Zee Business Stock, Trading Guide: 10 things to know before market opens on 29 December 2022

Zee Business Stock, Trading Guide: The Indian markets traded dull and ended almost flat on the back of mixed global cues.  After the initial downtick, the benchmark indices spent the entire day in a narrow band however the tone was on the positive side, thanks to buying select index majors.

The Nifty50 and BSE Sensex settled at 18,122.50 and 60,910.28 levels, respectively on Wednesday. Among the sectoral pack, auto, energy and select PSU banks were in the limelight while defensive viz. pharma and FMCG traded subdued.

Here is a list of things to watch out for on 29 December 2022

What should investors do?

Indications are pointing towards a range-bound trend to continue in Nifty50, and we expect stock-specific moves to keep the participants occupied, thanks to the scheduled expiry of December month derivatives contracts. Besides, the broader indices are also showing some stability so participants can selectively look for buying opportunities.

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

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.07 per cent higher at 18,122.50. Key Pivot points (Fibonacci) support for the index is placed at 18081.27, 18056.53, and 18016.5, while resistance is placed at 18161.33, 18186.06, and 18226.1.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.07 per cent higher at 42,827.70. Key Pivot points (Fibonacci) support for the index is placed at 42722.62, 42642.38, and 42512.5, while resistance is placed at 42982.38, 43062.62, and 43192.5.

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

JK Lakshmi Cement join hands with GreenLine to roll out LNG fueled heavy trucks in India.

Reliance Jio launches True5G services across 11 cities.

Tata Power Renewable Energy receives Letter of Award from Tata Power Delhi Distribution for setting up 255MW #hybrid project In Karnataka.

Ashoka Buildcon awarded projects worth Rs 754.57 cr from Madhya Pradesh Poorv Kshetra Vidyut Vitaran Company.

JSW Energy completes acquisition of Ind-Barath Energy (Utkal) by paying Rs 1,047.60 cr.

Mattress maker Sheela Foam in talks to acquire Kurlon.

Airtel plans Rs 27,000-28,000 cr capex for network, no premium pricing for 5G.

UCO Bank to raise up to Rs 1,000 cr by issuing bonds.

Business News

Govt extends duty-free import deadline infinitely for Refined Bleached Deodorised Palm (RBDP) and RBDP oil.

Govt extends duty-free import deadline for pulses Urad and Tur till 31st March 2024.

SEBI paper lays out new regulatory framework for index providers.

CBIC asks taxmen to verify invoice details in ITC mismatch cases during GST audit for FY18, FY19.

Coal ministry identifies 4 coking coal blocks for auction to private sector.

Sebi proposes regulatory framework for index providers.

FII Activity on Wednesday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 872.59 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 372.87 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source – Stockedge

Bulk Deals:

Hariom Pipe Industries: Societe Generale bought 1,50,000 equity shares in the company at the weighted average price Rs 375.48 per share on the NSE, the bulk deals data showed.

Bodhi Tree Multimedia Ltd: Prashant Narinderlal Chadha sold 1,08,000 equity shares in the company at the weighted average price Rs 106.29 per share on the NSE, the bulk deals data showed.

Arham Technologies Ltd: Mansi Shares & Stock Advisors sold 1,02,000 equity shares in the company at the weighted average price Rs 69.34 per share on the NSE, the bulk deals data showed.

Tembo Global Ind Ltd: Dinesh Kumar Jain bought 1,68,512 equity shares in the company at the weighted average price Rs 124.4 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Balrampur Chini, and Indiabulls Housing Finance 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.