Zee Business Stock, Trading Guide: 10 things to know before market opens on 23 November 2022

Zee Business, Stock Guide, Trading Guide, Share Market, Nifty, Nifty Bank, Bulk deals, stocks in news: The Indian markets consolidated in a narrow range and ended in the green snapping the three-day declining trend. The benchmark indices – Nifty and Sensex – rebounded after retesting the previous session’s low and remained range bound.

On Tuesday, the 30-share BSE Sensex climbed 274.12 points or 0.45 per cent to settle at 61,418.96. Similarly, the broader NSE Nifty gained 84.25 points or 0.46 per cent to 18,244.20.

Most sectoral indices traded in line with the benchmark and closed marginally higher. IndusInd Bank topped the Sensex gainers' chart, followed by NTPC, UltraTech Cement, and Titan. While only five counters closed with losses on Sensex among them Nestle India, Bharti Airtel, PowerGrid, and HDFC Bank among others.

Here is a list of things to watch out for on 23 November 2022

What should investors do?

In absence of any major event, the performance of the global indices, especially the US markets, will dictate the market trend. Besides, the upcoming expiry of November month derivatives contracts would keep the participants busy.

Meanwhile, we suggest continuing with a stock-specific trading approach and focusing on sectors that are showing resilience in the recent dip.

- Ajit Mishra, VP - Research, Religare Broking Ltd

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.46 per cent higher at 18,244. Key Pivot points (Fibonacci) support for the index is placed at 18167.16, 18137.87, and 18090.46, while resistance is placed at 18261.97, 18291.26, and 18338.67.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.26 per cent higher at 42,457. Key Pivot points (Fibonacci) support for the index is placed at 42375.9, 42337.74, and 42275.97, while resistance is placed at 42499.44, 42537.6, and 42599.37.

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:

Adani Ent to consider raising capital on Friday, Nov 25 via public offering, preferential allotment (including QIP), or a combination of methods.

Nykaa CFO Arvind Agarwal resigns.

Wipro launches cybersecurity consulting offerings in Europe.

Vedanta approves a dividend of Rs 17.50 per share.

Corporate Action

Hindustan Zinc: Ex-date interim dividend 775% at Rs 15.5 per share

Indian Toners: Ex-date interim dividend 35% at Rs 3.5 per share

Panama Petrochem: Ex-date interim dividend 150% at Rs 3 per share

Maharashtra Seamless: Ex-date bonus issue 1:1

FII Activity on Tuesday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 697.83 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 636.39 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Wipro Ltd: BNP Paribas Arbitrage sold 48,00,000 equity shares in the company at the weighted average price Rs 387 per share on the BSE, the bulk deals data showed.

FSN E-Commerce Ventures: Lighthouse India Fund III sold 1.84 crore equity shares in the company at the weighted average price Rs 182 per share on the NSE, the bulk deals data showed.

Kaynes Technology Ind Ltd: Goldman Sachs Funds - Goldman Sachs India Equity Portfolio bought 4,66,038 equity shares in the company at the weighted average price Rs 705.28 per share on the NSE, the bulk deals data showed.

Max Fin Serv Ltd: Catalyst Trusteeship Limited sold 54,00,000 equity shares in the company at the weighted average price Rs 637.21 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

No stock is 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.