Zee Business Stock, Trading Guide: 10 things to know before market opens on 27 December 2022

Zee Business Stock, Trading Guide: The Indian markets started the week on a strong note and gained over a percent, taking a breather after the recent slide. Nifty50 and Sensex gradually inched higher as the day progressed to eventually settled at 18,014 and 60,566 levels- each up over 1 per cent.

Most of the sectoral indices participated in the recovery wherein realty, banking, metal and energy packs posted decent gains. The broader indices too rebounded swiftly and gained in the range of 2.5-4 per cent at the close today.

Participants shouldn’t read much into a single day rebound and wait for the sustainability of the move, Ajit Mishra, VP - Technical Research, Religare Broking said. “We have the next hurdle around the 18,150-18,200 zone in Nifty so we recommend utilising further recovery to reduce positions.”

Here is a list of things to watch out for on 26 December 2022

Technical Outlook: Nifty50

The Nifty has reclaimed its 100-day moving average (DMA), but 18088, 18133, and 18200 are multiple hurdles on an immediate basis. Nifty must cross its 50-DMA of 18200 to gain any meaningful strength, while 17850 will act as an immediate hurdle.

As per option data, there is a tussle between bulls and bears around the 18000 mark; therefore, it will be important to see tomorrow's price action, and if Nifty manages to trade above 18000, then there is a good chance of a move towards the 18200 level.

- By Parth Nyati, Founder at Tradingo

Key support & resistance levels for Nifty50:

The Nifty50 closed 1.17 per cent higher at 18,014.60. Key Pivot points (Fibonacci) support for the index is placed at 17839.25, 17766.11, and 17647.73, while resistance is placed at 18076.01, 18149.15, and 18267.53.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 2.3 per cent higher at 42,630.15. Key Pivot points (Fibonacci) support for the index is placed at 41860.83, 41559.53, and 41071.83, while resistance is placed at 42836.24, 43137.54, and 43625.24.

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

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DPIIT considering quality control norms for lighters, sports goods

FII Activity on Monday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 497.65 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1285.74 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source – Stockedge

Bulk Deals:

Abans Holdings Limited: Maven India Fund bought 2,79,581 equity shares in the company at the weighted average price Rs 202.14 per share on the NSE, the bulk deals data showed.

Giriraj Civil Devp Ltd: Komal Kirit Surani sold 25,200 equity shares in the company at the weighted average price Rs 217.86 per share on the NSE, the bulk deals data showed.

Tembo Global Ind Ltd: Premji Bhuralal Gala HUF sold 1,05,000 equity shares in the company at the weighted average price Rs 108.55 per share on the NSE, the bulk deals data showed.

Atal Realtech Limited: Bhavesh Kirti Mathuria bought 1,05,600 equity shares in the company at the weighted average price Rs 74.03 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

PNB is placed under the F&O ban for Tuesday. 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.