Zee Business Stock, Trading Guide: Indian markets closed lower after a range session on Monday. The BSE Sensex rose 300 points or 0.5 percent to 59,141 and the Nifty50 gained 91 points or 0.5 percent to 17,622 levels today
The Nifty index witnessed a quick rally in the first hour after the initial fall and remained in range thereafter, said Ajit Mishra, Vice President, Research, Religare Broking, adding that the trend sectoral was mixed, as banking, consumer goods and car buying interests. while real estate, energy and metals declined.
Mishra expects the turmoil to continue amid weak global signals, so it is prudent to place positions on either side. Banks and financials are doing well on expected lines and selective buying is visible in auto and FMCG also in declines, he added. “Participants should align their positions accordingly.”
In technical terms, the Nifty entered a short-term correction mode in the last week and continuing with the bearish momentum of the last week, the index fell in early trade on September 19, Gaurav Ratnaparkhi, Chief of BNP Paribas Sharekhan technical research. he said in his comment.
“It dropped to test the 40 DEMA, which provided buying support. As a result, the Nifty bounced back towards the 20 DMA, which acted as a cap for the day,” Ratnaparkhi added.
Here is a list of things to consider on September 15, 2022
Technical view of Nifty, Nifty Bank
By Rupak De, Senior Technical Analyst at LKP Securities
Nifty has remained capped as investors await the FOMC outcome due this week. On the lower end, Nifty found support above 17400, while bears protected the 17700 mark. The trend is likely to remain sideways in the short term.
Support for Nifty50 is placed at 17350-17400, a fall below 17350 may trigger a correction towards 17000. At the upper end, 17700 may act as a crucial resistance. A decisive move above 17700 may induce a rally towards 17900/18100.
By Kunal Shah, Senior Technical Analyst at LKP Securities
The Bank Nifty index witnessed a consolidation in the 40,500-41,500 range and this is likely to continue ahead of the US FOMC meeting lined up this week.
On the derivatives front, the highest open interest on the call side builds at 41,500 and support is visible at 40,000 where the highest open interest builds on the sell side. Traders should be prepared for volatility in the coming days and should trade both sides.
Key support and resistance levels for Nifty50:
The Nifty50 closed 0.52 percent higher at 17,622.25. Key pivot point support (Fibonacci) for the index is placed at 17482, 17426 and 17335, while resistance is at 17663, 17719 and 17810.
Key support and resistance levels for Nifty Bank:
The Bank Nifty closed 0.31% lower at 40,904.40. Key pivot point support (Fibonacci) for the index is placed at 40608, 40449 and 40191, while resistance is at 41123, 41282 and 41540.
Gross open interest:
Open interest means the number of open or pending futures contracts on NSE at one time. A seller and a buyer together create a contract.
Here, the gross values of the open interest positions taken by the four participants, i.e. Clients are Clients are Retail Individual Investors who invest in Derivatives, DIIs are Domestic Individual Investors, FIIs are Institutional Investors foreigners and professionals are the owners and brokerage firms that trade. in own name
Image source – Stockedge
Actions in News
Kotak Mahindra Bank Listed as Payment Gateway on Income Tax Department’s Recently Launched TIN 2.0 Platform
SAT Industries to consider, decides to sell the company’s investment on September 23.
Adani Enterprises raises Rs 100 crore through NCDs.
Natco Pharma gets approval for CTPR launch from Delhi High Court. The company estimates that the current market size for CTPR-containing products in India is over Rs 2,000 crore.
Future Supply Chain Board cancels plan to sell/dispose of warehouse assets, to explore other opportunities for rehabilitation of business operations.
The CEAT board allots NCDs (non-convertible debentures) totaling Rs 150 cr, on a private placement basis.
Mishtann Foods to set up 1000 KLPD grain based ethanol manufacturing facility in Gujarat. The estimated cost of the project is Rs 2.25 billion.
Bombay Dyeing’s board will consider raising funds through the rights issue on September 22.
Ircon International bags order worth Rs 256 cr for Mahanadi Coalfields.
Crompton Greaves approves sale of 6% stake in subsidiary Butterfly Gandhimathi Appliances through Offer-For-Sale (OFS).
Hatsun Agro board approves raising up to Rs 400 cr through rights issue
FII activity on Monday:
Foreign portfolio investors (FPIs) remained net buyers for Rs 312.31 crore in Indian markets, while domestic institutional investors (DIIs) were net sellers for Rs 94.68 crore, provisional data from the NSE.
FII Index and F&O Securities:
Image source – Stockedge
Bulk Offers:
Kshitij Polyline Limited: Jaya Jalan sold 52,665 shares of the company at a weighted average price of Rs 106.15 per share on the NSE, bulk deals data showed.
Coastal Corp Limited-RE: Achanta Satyasree sold 25,558 shares of the company at a weighted average price of Rs 101.72 per share on the NSE, bulk offers data showed.
TRF Limited: Mansi Shares & Stock Advisors Pvt Ltd sold 57,546 equity shares of the company at a weighted average price of Rs 324.35 per share on the NSE, bulk deals data showed.
Ksolves India Limited: Deepali Verma sold 1,86,000 equity shares of the company at a weighted average price of Rs 400.08 per share on the NSE, bulk deals data showed.
Shares under F&O ban on NSE
Delta Corp, Escorts, RBL Bank, IndiaBulls Housing Finance, India Cement and PVR are under the F&O ban on Tuesday. F&O segment blackout period securities include companies where the value has exceeded 95 percent of the market-wide position limit.
