Zee Business Stock, Trading Guide: 10 things to know before the market opens on November 07, 2022

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Guide to Zee Business Actions and Transactions: Indian markets extended the consolidation for another session and gained nearly half a percent. Indian indices traded lackluster for most of the session, but buying in the final hour helped the Nifty close around the day’s high at 18,117.15.

Nifty continues to trade green and closed above the 18100 levels on the weekly timeframe with a gain of 1.86%. On the daily chart and Nifty maintained its cycle of higher highs – higher lows, interpreting as having a bullish setup, Apurva Sheth, Head of Market Outlook, Samco Securities.

Here is a list of things to watch on November 07, 2022

What should investors do?

Markets maintained a positive tone despite the consolidation bias, clearly showing buying interest among participants. While all sectors are contributing to the movement, we reiterate our view to stick to sectors/stocks that are part of the movement rather than laggards. As a reminder, the performance of global indices and earnings will remain in focus.

Ajit Mishra, Vice President – Research, Religare Broking Ltd

Key support and resistance levels for Nifty50:

The Nifty50 closed up 0.36% at 18,117.15. Key pivot points (Fibonacci) support for the index is placed at 18044.79, 18016.97 and 17971.93, while resistance is placed at 18134.87, 18162.69 and 18207.73.

Key support and resistance levels for Nifty Bank:

Nifty Bank closed down 0.1% at 41,258.5. Key pivot points (Fibonacci) support for the index is placed at 40810.13, 40987.8 and 41097.56, while resistance is placed at 41452.9, 41562.66 and 41740.33.

Gross open interest:

Open Interest means the number of open or open contracts in NSE Futures at any given time. A seller and a buyer together create a contract.

Here, the gross values ​​of open interest positions taken by the four participants, i.e. Clients are Clients are individual retail investors who invest in derivatives, DIIs are domestic individual investors, FIIs are retail investors foreign institutional and Pro are the owners and brokerage firms that trade. in their own name.

Image source – Stockedge

Actions in the news:

Jyothy Labs: The Income Tax Department conducted a survey at its manufacturing offices/plants. The company says the investigation had no impact on the company’s business operations.

Triveni Engineering approves Rs 800 crore buyback program

Britannia’s ‘mid-digit’ volume growth is in line with street expectations of 4-5% growth.

Adani Ports Operational Update: April-October cargo volume of around 203 MMT, up 10% year-on-year and the company handled around 25 MMT of cargo in October.

IDFC First Bank obtains board approval to raise Rs 4,000 crore.

Birlasoft appoints Angan Guha as CEO and Managing Director, effective December 1, 2022.

Q2 benefits

Bank of Baroda reported a 59% increase in net profit year-on-year (YoY) to Rs 3,313 crore for the September quarter, boosted by improving asset quality and expanding margins.

SBI posted the highest quarterly profit on record at Rs 13,265 crore, up 74% year on year, for the September quarter of FY23, supported by robust loan sales, interest income higher and lower provisions.

Power Grid Corporation recorded an increase of more than 8% in its consolidated net profit to Rs 3,650.16 crore in the September quarter of FY23, mainly due to higher revenues.

Triveni Engineering & Industries announced a multiple increase in its consolidated profit to Rs 1,387.76 crore in the second quarter.

Britannia Industries announced a 28.47% increase in its consolidated net profit to Rs 490.58 crore for the second quarter ended September 30, 2022, helped by volume growth.

Marico Ltd recorded a 2.84% decline in its consolidated net profit to Rs 307 crore for the second quarter, mainly due to losses on translation of foreign currency receivables and a higher effective tax rate.

TVS Motor Company said its consolidated net profit rose 59% to Rs 373 crore for the second quarter ended September 2022, driven by strong sales in all markets.

FII activity on Friday:

Foreign portfolio investors (REITs) remained net sellers at Rs 548.59 crore in Indian markets while domestic institutional investors (DIIs) were net buyers at Rs 1,436.25 crore, according to preliminary data. on the NSE.

FII Index and F&O Stock:

Image source – Stockedge

Bundles:

TRF Limited: Mansi Shares &; Stock Advisors Pvt Ltd sold 70,000 shares of the company at a weighted average price of 161.97 rupees per share on the NSE, according to wholesale trading data.

Vaishali Pharma Limited: Amaysha Textiles Private Limited has sold 65,000 shares of the company at a weighted average price of Rs 103.75 per share on the NSE, according to wholesale trading data.

Accuracy Shipping Limited: GKPR Tradex Private Limited bought 77,630 shares of the company at a weighted average price of 219.99 rupees per share on the NSE, according to wholesale trading data.

Ameya Precision Eng Ltd: Jagrutiben Jayantilal Vyas has sold 64,000 shares in the company at a weighted average price of Rs 61.65 per share on the NSE, according to wholesale trading data.

Stocks under F&O ban on NSE

LIC Housing Finance is placed under the F&O ban for Monday. Blackout securities in the F&O segment include companies in which the security has exceeded 95% of the market-wide position limit.

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