Zee Business Stock, Trading Guide: Things to Know Before Market Opens on 15th September 2022

Zee Business Stock, Trading Guide: The Indian markets on Wednesday snapped a 4-day gaining streak to end marginally lower, however, it staged a sharp recovery from morning lows, led by bank and financials as Nifty Bank ended at a record closing high; except Axis Bank, all constituents were up.

The S&P BSE Sensex fell 224 points to end at the 60,347 level, while the Nifty50 fell 66 points to close at the 18,004 level. Massive buying in banking, financial services, and metal stocks led to a recovery of 950 points in Sensex from the lower level.

As per Ajit Mishra, VP - Research, Religare Broking Ltd, “After the gap down start, the Nifty index gradually inched higher as the session progressed and retested Tuesday’s high however profit taking in the last hour pushed the index lower.”

Markets are in strong hands and such a strong recovery amid the global mayhem has further strengthened our belief, the market analyst Mishra said, reiterating a view to maintain a positive bias however pick the sectors wisely.

“The IT pack is most vulnerable to the global decline while banking is just inches away from its record high. In short, use dips to buy strength and avoid weak pockets,” The analyst said.

Here is a list of things to watch out for on 15 September 2022

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.37 per cent higher at 18,003.75. Key Pivot points (Fibonacci) support for the index is placed at 17833, 17757, and 17635 while resistance is placed at 18077, 18153, and 18275.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 1.3 per cent lower at 41,405. Key Pivot points (Fibonacci) support for the index is placed at 40595, 40280 and 39769 while resistance is placed at 41618, 41933, and 42445.

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

Tata Steel board approves raising up to Rs 2,000 crore via NCDs.

KPI Green bags order for 4.2 MW wind-solar hybrid power project.

G R Infraprojects offer for sale (OFS) of 57 lakh shares, 5.9% of equity on September 15-16, 2022, at floor price at Rs 1,260 per share.

HFCL bags advance purchase orders worth Rs 447.8 crore from BSNL & RailTel.

FII Activity on Wednesday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 1397.51 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 187.58 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Brand Concepts Limited: IFF Overseas Private Ltd sold 1,71,886 equity shares in the company at the weighted average price Rs 185.78 per share on the NSE, the bulk deals data showed.

Bodhi Tree Multimedia Ltd: Chanakya Finvest Private Limited bought 24,000 equity shares in the company at the weighted average price Rs 283.21 per share on the NSE, the bulk deals data showed.

Gujarat Apollo Equip Ltd: Apollo Techno Equipments Ltd sold 1,24,539 equity shares in the company at the weighted average price Rs 246.43 per share on the NSE, the bulk deals data showed.

Satia Industries Limited: Negen Capital Services Private Limited bought 5,15,000 equity shares in the company at the weighted average price Rs 128.99 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

RBL Bank, IndiaBulls Housing Finance and Delta Corp are placed under the F&O ban on 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.