Traders Guide: From stocks in news to Q3 earnings - 10 things to know before market opens on Monday, February 13

Traders Guide: The Indian markets traded in a narrow range and ended marginally lower amid mixed cues on Friday. Initially, weak global cues were weighing on sentiment however buying in select heavyweights capped the damage.

The NSE Nifty50 settled at 17856.5 and BSE Sensex closed at 60,682.70 levels – each down by 0.21 per cent. Meanwhile, most sectoral indices traded in sync with the trend and ended lower wherein metal and energy were among the top losers.

The recent move in the Nifty index shows indecisiveness among the participants thus we recommend focusing more on stock selection and trade management, Ajit Mishra, VP - Technical Research, Religare Broking said in his expectations on Monday.

“We’re seeing rotational buying in select index majors across sectors while others are still sitting on the sidelines. Traders should align their positions accordingly,” the analyst added.

Also Read: Sell-off continues: Foreign portfolio investors dump Rs 9,600 crore from Indian equities in February so far

Here is a list of things to watch out for on February 13, 2023

Technical Outlook

Technically, the Nifty is trapped between the low and high of the budget day. However, the base has shifted higher to 17650. On the upside, 17950–18000 is a crucial resistance zone, while the 50-DMA at 18120 is the next hurdle; above this, we can expect a rally in the market.

On the downside, 17777 and 17650 are immediate and important support levels, while 17350 is a critical base at any weakness.

Bank Nifty is struggling to cross its 20-DMA, currently placed at 41700, and if it manages to cross this hurdle then we can expect a short covering rally towards the 42500-42700 zone. On the downside, 41000 is an immediate support level, while 40600 and 40000 are the next major support levels.

- Santosh Meena, Head of Research, Swastika Investmart Ltd.

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.2 per cent lower at 17,856.5. Key Pivot points (Fibonacci) support for the index is placed at 17815.8, 17797.89, and 17768.9, while resistance is placed at 17873.79, 17891.71, and 17920.7.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.01 per cent higher at 41,559.40. Key Pivot points (Fibonacci) support for the index is placed at 41457.37, 41397.43, and 41300.4, while resistance is placed at 41651.43, 41711.37, and 41808.4.

Also Read: Domestic investors’ equity ownership touches all-time high of nearly 25% in December quarter

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

Q3 Earnings

Oil India Ltd (OIL) reported its highest ever quarterly net profit in the third quarter ended December 31 on the back of a rise in oil and natural gas prices. Net profit of Rs 1,746.10 crore in October-December compared with Rs 1,244.90 crore, in the same period a year back, as per regulatory filing.

Brigade Enterprises Ltd's sales bookings rose by 48 per cent to Rs 1,009.7 crore in the third quarter of this fiscal on higher volumes and price realisation amid strong housing demand. The company sold residential and commercial properties worth Rs 684.2 crore in the year-ago period.

Indiabulls Real Estate Ltd (IBREAL) has posted a consolidated net loss of Rs 236.77 crore for the third quarter of this fiscal year on a lower income. Its net loss stood at Rs 87.04 crore in the year-ago period, according to a regulatory filing.

VA Tech WABAG Ltd has reported consolidated profit after tax for the quarter ending December 31, 2022 at Rs 46.54 crore. The city-based firm had registered consolidated PAT at Rs 45.49 crore during corresponding quarter previous year.

Info Edge posted a consolidated loss of Rs 116.5 crore in the third quarter ended December 31, 2022 mainly on account of write-off investment in property tech start-up 4B Networks, dip in valuation of some investments and slowing down of the job market.

Glenmark Pharma reported a 21.3 per cent rise in consolidated profit after tax at Rs 290.8 crore for the third quarter ended December 31, 2022.

Fortis Healthcare reported a flat December quarter net profit at Rs 142 crore. The healthcare provider had posted a net profit of Rs 142 crore in the October-December quarter of the last fiscal.

JK Lakshmi Cement Ltd on Friday reported a 17.73 per cent rise in its consolidated net profit at Rs 77.42 crore for the December quarter on account of higher volume, improved efficiency parameters.

ABB India posted a 58 per cent jump in its net profit at Rs 306 crore in the December quarter, mainly on the back of higher revenues.

Stocks in News

Biocon: US FDA has issued a Complete Response Letter (CRL) for the Biologics License Application (BLA) for Bevacizumab filed by company's partner Viatris (Mylan)

Allsec Technologies board approves resignation of Ashish Johri as CEO of company with effective from February 15, 2023.

Adani Group pledges additional shares in favour of SBICAP Trustee. Promoter creates pledge in Adani Ports, Adani Transmission and Adani Green.

SEBI invites expression of interest for empanelment of forensic auditors to conduct forensic audit of mutual funds.

Adani Ports & Ambuja Cements excluded from ASM framework effective Feb 13.

Tata Motors completes BS6 Phase II transition, refreshes Passenger Vehicle portfolio with enhanced features. Increases Standard Warranty from 2 Years/ 75,000 kms to 3 Years/1 lakh kms.

Lemon Tree Hotels board approves re-appointment of Patanjali Govind Keswani as Chairman & MD for 3 years effective from April 1.

Canara Bank to hike lending rates by 5-15 bps across tenures effective from February 12.

Thermax bags an order worth Rs 251.7 cr from an Indian public sector power company.

M&M to sell its entire stake in Mahindra Consulting Engineers to Artelia Holding SAS for Rs 10.31 cr.

FII Activity on Friday:

Foreign portfolio investors (FPIs) remained net buyers for Rs 1458.02 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 291.34 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source – Stockedge

Bulk Deals:

One 97 Communications Ltd: Alibaba.Com Singapore E-Commerce Private Limited sold 214,31,822 equity shares in the company at the weighted average price Rs 642.74 per share on the NSE, the bulk deals data showed.

Mold-Tek Technologies Ltd: Rohan S Hegde bought 2,34,460 equity shares in the company at the weighted average price Rs 233.51 per share on the NSE, the bulk deals data showed.

Geekay Wires Limited: Sachin Verma bought 52,367 equity shares in the company at the weighted average price Rs 113.31 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Ambuja Cements and Indiabulls Housing Finance is placed under the F&O ban for Monday. 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.

With PTI Inputs