Zee Business Stock, Trading Guide: 10 things to know before market opens on 30 November 2022

Zee Business, Stock Guide, Trading Guide, Bulk Deals, Stocks in news, Corporate action, market on November 25: The Indian markets extended gains for yet another session and rose nearly half a percent. After the flat start, the Nifty index gradually inched higher however profit taking in the latter half trimmed the gains. Finally, it ended at 18,618.05; up by 0.3 per cent.

Meanwhile, the sectoral indices traded mixed wherein FMCG and metal posted healthy gains. The broader indices underperformed the benchmark and shed over half a percent each.

“The markets have been maintaining a positive tone, thanks to rotational buying in index majors. However, mixed global cues and the existence of a hurdle around 18700 in Nifty may cap the upside and trigger some consolidation too,” Ajit Mishra, VP - Technical Research, Religare Broking Ltd said.

Apart from banking and IT, the market is seeing buying interest emerging in the defensive pack viz. FMCG and selectively in pharma, Mishra added. “Traders should align their positions accordingly.”

Here is a list of things to watch out for on 30 November 2022

Technical View

Nifty: The market is overbought on the derivative front, and it may consolidate or witness some correction before resuming its bullish momentum.

On an immediate basis, 18500 put writers are showing strong confluence; therefore, Nifty will try to trade above 18500, but if it slips below that level, we can expect some profit-taking where 18325–18245 is the next support zone. On the upside, 18800/18888/19000 will be the next resistance levels.

Banknifty is also consolidating in the range of 42700-43300 with intraday volatility. If it manages to cross the 43333 level, then we can see a move towards the 43700–44000 area. If it falls below 42700, we can expect some profit-taking towards the 42200–42000 range.

Santosh Meena, Head of Research, Swastika Investmart Ltd.

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.30 per cent higher at 18,618. Key Pivot points (Fibonacci) support for the index is placed at 18568.04, 18538.33 and 18490.23 while resistance is placed at 18664.23, 18693.94, and 18742.03.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.08 per cent higher at 43,053. Key Pivot points (Fibonacci) support for the index is placed at 42975.15, 42899.58, and 42777.26, while resistance is placed 43219.78, 43295.35, and 43417.67.

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:

IDFC says it got SEBI nod for change in control of IDFC Mutual Fund.

SEBI gives its approval for a consortium led by Bandhan Financial Holdings to take over IDFC Ltd's mutual fund operations.

Inox GFL Group ‘initiates strategic action’ to deleverage its Wind Business. Inox Green and Inox Wind make payments towards reducing their debt.

Biocon Biologics Completes Acquisition of Viatris’ Global Biosimilars Business.

Coal Minister: Owing to Rail-Coal synergy, Coal India registered 19 per cent growth in power rake loading.

Gland Pharma announced earlier today that it will acquire Cenexi. The company says it is looking at areas in the US & India for further acquisitions.

Krishna Institute of Medical Sciences acquires an additional stake of 7.79 per cent in subsidiary Arunodaya Hospitals.

Corporate Action

Chandra Prabhu International: Ex-date split from Rs 10 to Rs 2

Milkfood Ltd: Ex-date interim dividend 25% at Rs 2.5 per share

Rajnandini Metal Ltd: Ex-date split from Rs 10 to Rs 1

FII Activity on Tuesday:

Foreign portfolio investors (FPIs) remained net buyers for Rs 1241.57 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 744.42 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Vertoz Advertising Ltd: Niraj Rajnikant Shah bought 61,000 equity shares in the company at the weighted average price Rs 187.6 per share on the NSE, the bulk deals data showed.

Alkali Metals Limited: Neelam Jilesh Chheda bought 75,175 equity shares in the company at the weighted average price Rs 134.94 per share on the NSE, the bulk deals data showed.

Accuracy Shipping Limited: Antara India Evergreen Fund Ltd bought 2,50,000 equity shares in the company at the weighted average price Rs 192.07 per share on the NSE, the bulk deals data showed.

Fourth Dimension Sol L: Linkstar Trust sold 1,90,498 equity shares in the company at the weighted average price Rs 84.46 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

BHEL, Delta Corp, IndiaBulls Housing Finance and PNB are placed under the F&O ban for Thursday. 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.