Zee Business Stock, Trading Guide: 10 things to know before market opens on 30 December 2022

The first half was dull as the Nifty index hovered in a narrow band however a sharp surge in the index majors in the latter half completely changed the tone.

The broader indices underperformed the benchmark and ended marginally in the green: PTI

Zee Business Stock, Trading Guide: The Indian markets traded volatile on the monthly expiry day and ended marginally higher amid mixed signals. After the gap-down start, the first half was dull as the Nifty index hovered in a narrow band however a sharp surge in the index majors in the latter half completely changed the tone. Consequently, it settled near the day’s high to close at 18,191 levels.

Meanwhile, the sectoral indices witnessed a mixed trend wherein the metal and banking pack posted decent gains. The broader indices underperformed the benchmark and ended marginally in the green.

Here is a list of things to watch out for on 30 December 2022

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What should investors do?

Domestic markets may attempt to extend the rebound on the last trading day of the calendar year however mixed global cues could cap the upside.

Besides, the existence of a hurdle around 18,350 in Nifty is added negative. We thus reiterate our view to continue with stock-specific trading approach and maintain positions on both sides until we get clarity over the directional move in the index.

- By Ajit Mishra, VP - Technical Research, Religare Broking Ltd.

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.38 per cent higher at 18,191. Key Pivot points (Fibonacci) support for the index is placed at 18047.34, 17991.43, and 17900.94, while resistance is placed at 18228.33, 18284.24, and 18374.73.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.99 per cent higher at 43,252.35. Key Pivot points (Fibonacci) support for the index is placed at 42694.93, 42456.97, and 42071.8, while resistance is placed at 43465.27, 43703.23, and 44088.4.

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

Cipla EU to Invest EUR 15 million in Ethris, initiating a strategic collaboration.

Reliance Retail Ventures subsidiary Reliance Consumer Products to acquire 51% controlling stake in Lotus Chocolate Co.

Craftsman Automation signs definitive agreement to acquire 76% equity stake of DR Axion India for Rs 375 crore.

SBI Card launches co-brand credit card with Punjab & Sind Bank.

Tata Power says raised Rs 1000 cr via NCDS.

Reliance Jio launches #5G services in Indore & Bhopal.

Eicher Motors to buy 10.35% stake in Stark Future for €50 million.

NCLT approves plan to acquire Reliance Naval and Engineering: Swan Energy.

Business News

India's Q2 Current Account Deficit hits a record high of $36.4 bn

Food Ministry gives nod to 34 more ethanol projects under the new window of Ethanol Interest Subvention Schemes

India's external debt declines by USD 2.3 billion in Q2 FY23.

Govt allows implementing agencies to extend commissioning date of solar PV, hybrid power projects.

Food processing industry invests Rs 4,900 cr under PLI scheme so far: Govt.

First jewellery consignment under Ind-Aus ECTA flagged off from Mumbai, Surat, Chennai.

Frontloaded monetary policy actions to bring inflation further under control: RBI report.

Costlier home loans, properties hit home buying affordability marginally in 2022: Report.

NSE has asked investors not to put their money in any scheme promising assured returns from investments in the stock market.

Expect to sign at least 2 more FTAs in 2023, says Goyal.

FII Activity on Thursday:

Foreign portfolio investors (FPIs) remained net sellers for Rs 572.78 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 515.83 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Image Source – Stockedge

Bulk Deals:

Arihant Academy Limited: Biren P Gandhi bought 99,200 equity shares in the company at the weighted average price Rs 120.18 per share on the NSE, the bulk deals data showed.

Annapurna Swadisht Ltd: MSP Sponge Iron Limited bought 1,40,000 equity shares in the company at the weighted average price Rs 135 per share on the NSE, the bulk deals data showed.

Kfin Technologies Limited: Morgan Stanley Asia (Singapore) PTE sold 10,00,000 equity shares in the company at the weighted average price Rs 365.04 per share on the NSE, the bulk deals data showed.

New Delhi Television: LTS Investment Fund Ltd sold 9,09,500 equity shares in the company at the weighted average price Rs 339.03 per share on the NSE, the bulk deals data showed.

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