Zee Business Stock and Trading Guide: The Indian markets rebounded strongly and gained nearly 2 per cent, tracking firm global cues. A sharp surge in the US markets triggered a gap-up start in the Nifty however selective participation from the index majors capped the momentum on Friday.

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The benchmark finally settled closer to the day’s high at 18349.7 levels. The IT pack led the surge among the sectoral closely followed by metal and financials. While the underperformance continued the broader front wherein both midcap and smallcap ended flat to marginally higher on Friday.

Here is a list of things to watch out for on 14 November 2022

What should investors do?

Domestic markets have been maintaining a positive trend and recovery in the US markets is fuelling momentum at regular intervals. Since Nifty has reclaimed the 18,350-mark, the market is now eyeing a record high in the index.

Similarly, the analyst observes selective participation so stock selection holds importance. Besides, the underperformance of the broader market is also hurting the sentiment. Participants should align their positions accordingly and prefer stocks that are trading in tandem with the benchmark.

Ajit Mishra, VP - Research, Religare Broking Ltd

Key support & resistance levels for Nifty50:

The Nifty50 closed 1.78 per cent higher at 18,350. Key Pivot points (Fibonacci) support for the index is placed at 18284.42, 18260.11 and 18220.77, while resistance is placed at 18363.11, 18387.42, and 18426.77.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 1.28 per cent higher at 42,137. Key Pivot points (Fibonacci) support for the index is placed at 41692.66, 41626.34, and 41519.0, while resistance is placed 41907.34, 41973.66, and 42081.

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:

Sugar stocks in focus: Food Ministry has issued guidelines for ethanol production from sugar & grain-based feedstocks.

Godrej Properties declared the highest bidder for two adjacent land parcels in Noida for a total bid value of Rs 377 cr. The land will have an estimated developable potential of approximately 3.2 msf.

Edible Oil companies in focus: Food Ministry says global prices of different #edibleoils fell by $200-$300 per tonne in the last 2 months.

Q2 Earnings

LIC Q2FY23: Strong premium collection but weak internals; net premium rises 27 per cent at Rs 1.32 lakh crore.

Aurobindo Pharma Q2: Net Profit down 16.8 per cent at Rs 478.3 crore in Q2 as compared to Rs 574.8 crore year-on-year (YoY) and net revenue down 3.4 per cent to Rs 5,739.3 crore against Rs 5,941.9 crore YoY

Manappuram Fin Q2: Net profit surges 10.7 per cent at Rs 409.5 crore as compared to Rs 369.7 crore YoY and revenue up 10.7% at Rs 1,696.3 crore against Rs 1,531.9 crore YoY

JK Cement Q2 Standalone: Net profit down 26.07 per cent at Rs 124.8 crore as against Rs 168.8 crore YoY and revenue up 16.7 per cent at Rs 2,141.8 crore compared to Rs 1,835.5 crore YoY.

Patanjali Foods Q2 Standalone: Net profit down 31.6 per cent at Rs 112.3 crore against Rs 164.3 crore YoY and revenue up 42 per cent at Rs 8,514 crore compared to Rs 5,995 crore YoY.

Info Edge reports Q2 earnings: profit down 42.4 per cent at Rs 103 crore versus Rs 178.9 crore QoQ and revenue up 10.4 per cent at Rs 604.1 crore against Rs 547.3 crore QoQ.

Sun TV Q2 Cons: net profit up 3 per cent at Rs 407.4 crore against Rs 395.6 crore YoY and revenue down 2.7 per cent at Rs 825.7 crore compared to Rs 848.7 crore YoY.

BHEL reports Q2: Standalone net profit at Rs 10.3 crore against versus loss Of Rs 67.5 crore YoY.

Mahanagar Gas reports Q2 earnings: Net profit down 11.5 per cent at Rs 164 crore against Rs 185.2 core (QoQ) and revenue up 7.4 per cent at Rs 1,562.7 crore compared to Rs 1,454.8 crore (QoQ).

Godfrey Phillips Q2: Net profit up 92.3 per cent at Rs 201.8 crore compared to Rs 104.9 crore (YoY) and revenue up 54.2 per cent at Rs 1,191.6 crore against Rs 772.7 crore (YoY).

FII Activity on Friday:

Foreign portfolio investors (FPIs) remained net buyers for Rs 3958.23 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 615.54 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

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Bulk Deals:

Rama Steel Tubes Limited: NOMURA SINGAPORE LIMITED bought 5,00,000 equity shares in the company at the weighted average price Rs 164.15 per share on the NSE, the bulk deals data showed.

PB Fintech Limited: Tiger Global Eight Holdings sold 32,84,422 equity shares in the company at the weighted average price Rs 388.34 per share on the NSE, the bulk deals data showed.

Nandani Creation Limited: Mansi Shares & Stock Advisors Pvt Ltd bought 1,27,812 equity shares in the company at the weighted average price Rs 109.47 per share on the NSE, the bulk deals data showed.

Autoline Industries Limited: Rathod Saajan S sold 2,00,000 equity shares in the company at the weighted average price Rs 106.37 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

GNFC and PNB are 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.