Zee Business Stock, Trading Guide: The Indian markets turned negative for 2022, as the benchmark indices – Sensex and Nifty50 – each fell around 2 per cent on Friday. The BSE-listed companies eroded market cap of nearly Rs 4 lakh crore on Friday.

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The BSE Sensex slipped 1020 points of 1.74 per cent to 58,098 and Nifty50 dipped 302 points or 1.72 per cent to 17,327 at the close. While Nifty Bank and Midcap each slipped over 2 per cent in a broad-based decline.

The fear of recession citing aggressive tightening by the US Fed combined with updates on fresh escalation between the Russia-Ukraine dented sentiment, Ajit Mishra, VP - Research, Religare Broking Ltd said in his comment.

“We expect volatility to remain high as we have important events like MPC’s monetary policy review meet and monthly derivatives expiry scheduled during the week. Besides, the prevailing pressure in the global indices would continue to weigh on the sentiment,” Mishra further added.

We’re eyeing the 16,900-17,100 zone to act as a support while the 17,550-17,750 zone would act as a strong hurdle in case of any rebound, the analyst said in quote.

According to Mishra, “Most sectors are expected to trade in tandem with the benchmark however the recent buying interest in the defensive pack viz. FMCG and selectively in pharma may continue. Participants should align their positions accordingly and maintain positions on both sides.”

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

Key support & resistance levels for Nifty50:

The Nifty50 closed 1.72 per cent lower at 17,327.35. Key Pivot points (Fibonacci) support for the index is placed at 17286, 17203, and 17069 while resistance is placed at 17554, 17637, and 17770.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 2.67 per cent lower at 39,546.25. Key Pivot points (Fibonacci) support for the index is placed at 39402, 39139 and 38713 while resistance is placed at 40255, 40518, and 40944.

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:

Spandana Sphoorty Board to consider fund raise via Non-Convertible Debentures (NCDs) on September 28, 2022.

Campus Activewear announces approval of the merger of its wholly owned subsidiary, Campus AI with the Company.

Suzlon Energy Board approves raising up to Rs 1,200 crore via rights issue.

Telecom Stocks: Prime Minister Narendra Modi to launch 5G services in India on October 1.

SBI raises Rs. 4,000 crore Basel III compliant unsecured, non-convertible Tier 2 Bonds at 7.57%.

Govt appoints Sanjai Kumar as CMD of RailTel Corp.

Govt's Financial Services Institutions Bureau has invited applications for the post of managing director and chief executive officer of Canara Bank.

Infibeam Avenues consolidates biz in 4 countries with its flagship brand CCAvenue.

Britannia Industries elevates Varun Berry to Executive Vice-Chairman and Managing Director. Appoints Rajneet Kohli as Executive Director & Chief Executive Officer

NCLT issues notice to SpiceJet on insolvency plea. NCLT Delhi is hearing a plea by an operational creditor Acres Buildwell claiming outstanding dues.

Unichem Labs liquidates 19.97% stake in Optimus Drugs for Rs 271 crore.

Coal Ministry says Coal India to sign MoU with 3 major PSUs for coal to chemical products.

FII Activity on Wednesday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 2899.68 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 299.1 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source - Stockedge

Bulk Deals:

Dev Info Technology Ltd: Niraj Rajnikant Shah bought 64,227equity shares in the company at the weighted average price Rs 217.34 per share on the NSE, the bulk deals data showed.

Salasar Exterior Cont Ltd: PMC Fincorp Limited bought 1,50,000 equity shares in the company at the weighted average price Rs 329.98 per share on the NSE, the bulk deals data showed.

Tourism Finance Corp: Rajasthan Global Securities Pvt Ltd bought 6,24,167 equity shares in the company at the weighted average price Rs 71.54 per share on the NSE, the bulk deals data showed.

Tapi Fruit Processing Ltd: Lakhani Jignesh Jasmatbhai (HUF) sold 30,000 equity shares in the company at the weighted average price Rs 56.89per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Delta Corp, Idea, Ambuja Cements, Can Fin Homes, ZEEL 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.