Zee Business Stock, Trading Guide: 10 things to know before market opens on 16 December 2022

Zee Business Stock, Trading Guide: The Indian markets plunged sharply lower and lost nearly one and a half percent, tracking feeble global cues. The tone was negative from the beginning however a sharp decline in the final hour pushed the bulls on the back foot.

Consequently, the Nifty and Sensex ended around the day’s low to close at 18414.90 and 61,799.03 levels. The selling pressure was widespread wherein IT, metal and banking shed over a percent each. The broader indices too witnessed a fall and loss in the range of 0.6-1 per cent.

Here is a list of things to watch out for on 16 December 2022

What should investors do?

Nifty has almost engulfed the gains of the last 3 sessions and is likely to retest the major support zone around 18,300. Its breakdown can further dent the recovery and push the index to 18,000. Traders should closely monitor global markets, especially the US, for cues.

Besides, we feel the performance of the banking index would play a critical role in setting the tone ahead while others are showing a mixed trend. Meanwhile, participants should restrict leveraged positions and maintain a few shorts also.

- Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

Key support & resistance levels for Nifty50:

The Nifty50 closed 1.32 per cent higher at 18,415. Key Pivot points (Fibonacci) support for the index is placed at 18383.86, 18321.27, and 18219.96, while resistance is placed at 18586.47, 18649.06 and 18750.37.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 1.25 per cent higher at 43,498. Key Pivot points (Fibonacci) support for the index is placed at 43382.72, 43207.72, and 42924.47, while resistance is placed at 43949.22, 44124.22, and 44407.47.

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

Business News

Bank of England hikes interest rates by 50 bps to 3.5%

European Central Bank hikes interest rates by 50 bps to 2.5%

Aramco and TotalEnergies to build $11 bln Saudi petrochemicals plant

Shares listed from tomorrow will be added directly to T+1

Govt's share sale in IRCTC over-subscribed, investors put in bids worth Rs 3,800 cr 

Countries with thriving online gaming industry levy GST on gross gaming revenue: Report

ECB rises main refinancing rate by 50bps to 2.50%, EST 2.50% 

MoU between Cotton Corporation of India and Texprocil. 

Zoho Corp records 57% rise in CAGR from Zoho Desk

Bank of England raises rates to 3.5%, expects more rises to come. 

WhatsApp Pay India head Vinay Choletti quits

Stocks in News

Infosys to announce Q3 results on January 12

KPI Green signs long-term Power Purchase Agreement (PPA) for sale of 7.50 MW solar power with Tata Motors

Shriram Transport board to consider interim dividend, fund raising on December 24

Hindustan Petroleum board approves raising up to Rs 10,000 cr via NCDs on a private placement basis

Gammon India board approves extension of tenure of Ajit Balubhai Desai as CEO w.e.f. December 17

Nitco Tiles board re-appoints Vivek Talwar as Chairman & Managing Director for 3 years effective from April 1, 2023

Indian Renewable Energy Development Agency to lend Rs 4,444 crore to SJVN Green Energy.

Deepak Fertilisers announced the demerger of its mining chemicals and fertiliser businesses.

Wipro gets multi-million dollar managed service contract from Mazda Europe. 

BLS International Services market cap crosses USD 1 billion, becomes unicorn

Kesoram raises Rs 90 cr from promoter shareholder.

IRCTC- OFS for Retail Investors will open from tomorrow

FII Activity on Wednesday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 710.74 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 260.92 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Vaishali Pharma Limited: Amaysha Textiles Private Limited sold 2,00,000 equity shares in the company at the weighted average price Rs 157.25 per share on the NSE, the bulk deals data showed.

Arham Technologies Ltd: Spring Ventures bought 60,000 equity shares in the company at the weighted average price Rs 62.99 per share on the NSE, the bulk deals data showed.

Max India Limited: Porinju Veliyath bought 2,30,000 equity shares in the company at the weighted average price Rs 100.31 per share on the NSE, the bulk deals data showed.

Baheti Recycling Ind Ltd: Gaurav Jain bought 81,000 equity shares in the company at the weighted average price Rs 104.74 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

BHEL, Delta Corp, Indiabulls Housing Finance, IRCTC, PNB and GNFC 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.