Zee Business Stock and Trading Guide: The Indian markets managed to end with modest gains in a range-bound session, in continuation to the prevailing trend on Monday. The nifty index oscillated in a range and finally settled at 18,202.8 levels after the initial uptick.

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Most sectors traded in line with the benchmark and ended higher wherein metal, auto, energy and banking were among the top gainers. The broader indices too ended higher and gained over half a percent each during Monday’s trading session.

Here is a list of things to watch out for on 07 November 2022

What should investors do?

“The domestic markets are gradually inching higher, tracking favourable global cues and supportive domestic factors. However, the lack of momentum indicates a bit of caution around the record high. Keeping all in mind, we feel participants should focus more on stock selection for now but avoid contrarian trades.”

Ajit Mishra, VP - Research, Religare Broking Ltd

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.47 per cent higher at 18,202.8. Key Pivot points (Fibonacci) support for the index is placed at 18101.52, 18056.52 and 17983.67, while resistance is placed at 18247.21, 18292.22, and 18365.07.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 1.04 per cent higher at 41,686.7. Key Pivot points (Fibonacci) support for the index is placed at 41432.11, 41327.73, and 41158.77, while resistance is placed 41770.02, 41874.41, and 42043.36.

Gross Open Interest:

Open Interest means the number of contracts open or outstanding in futures trading in NSE at any one time. One seller and one buyer together create one contract.

Here the gross values of Open Interest Positions taken by the four participants namely Client are Clients are the retail individual investors who invest in the derivatives instruments, DIIs are domestic individual investors, FIIs are foreign institutional investors and Pro are the proprietors and brokerage firms who trade on their own behalf.

Image Source – Stockedge

Stocks in News:

Piramal Ent to issue NCDs up to Rs 50 cr with the option to retain oversubscription of up to Rs 600 cr

Coal India: Coal Ministry says with 12% rise, 25.6 MT coal stock with power plants records 18% increase in domestic coal production

HAL: CB Ananthakrishnan, Director (Finance) to hold additional charge of Chairman & MD, till Nov 30, 2022.

Bharat Electronics Ltd (BEL) says it has signed an MoU with Motorola Solutions India for co-operation in the field of broadband, push-to-talk service.

Q2 Earnings

Coal India reported a 106 per cent jump in its consolidated profit at Rs 6,043.99 crore in the September quarter of FY23 on higher revenue from operations.

Paytm reported widening of consolidated loss to Rs 593.9 crore in the second quarter ended September 30, 2022 against Rs 481 crore YoY, while consolidated revenue from operations increased by about 76 per cent to Rs 1,914 crore during the reported quarter.

Jubilant FoodWorks reported a 9.76 per cent increase in its consolidated net profit at Rs 131.52 crore for the second quarter ended on September 30, 2022. Its revenue from operations during the quarter under review was at Rs 1,301.48 crore, up 16.6 per cent, as against Rs 1,116.18 crore YoY.

MRF’s consolidated net profit declined by 32 per cent to Rs 130 crore for the Q2FY23 against Rs 190 crore YoY. Revenue from operations rose to Rs 5,826 crore in Q2 as compared to Rs 4,908 crore YoY.

Gulf Oil reported an 11 per cent decline in profit after tax (PAT) to Rs 52.14 crore in Q2FY23 against Rs 58.70 crore in Q2FY22. The net revenue rose 34.86 per cent to Rs 719.50 crore compared to Rs 533.52 crore in a year ago quarter.

Dr Lal Path’s consolidated profit after tax declined 24.8 per cent to Rs 72.4 crore in the second quarter ended September against Rs 96.3 crore in the year-ago period. Its revenue grew 7.1 per cent to Rs 533.8 crore during the period under review, from Rs 498.4 crore year-on-year.

Bosch reported a flat consolidated net profit of Rs 372.4 crore for the second quarter ended September 30 against Rs 372 crore in the July-September quarter of FY22. Its revenue rose to Rs 3,662 crore for the period under review compared to Rs 2,918 crore in the same period last fiscal.

FII Activity on Monday:

Foreign portfolio investors (FPIs) remained net buyers for Rs 1,948.51 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 844.20 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Goa Carbon Ltd: Agrawal Gaurav bought 60,000 equity shares in the company at the weighted average price Rs 569 per share on the NSE, the bulk deals data showed.

Mangalam Organics Limited: Krishnamurthy Narayanan Iyer bought 43,728 equity shares in the company at the weighted average price Rs 613.99 per share on the NSE, the bulk deals data showed.

Suumaya Industries Ltd: Abhay Narain Gupta sold 2,48,974 equity shares in the company at the weighted average price Rs 47.42 per share on the NSE, the bulk deals data showed.

Dhanlaxmi Bank Limited: Jagrutiben Jayantilal Vyas sold 17,78,000 equity shares in the company at the weighted average price Rs 15.39 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

No stock was placed under the F&O ban for Wednesday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.