Zee Business Stock Trading Guide: 10 Things to Know Before Market Opens November 25, 2022

Zee Business, Stock Guide, Trading Guide, Volume Offers, Stocks in News, Company Actions, Market Nov 25: Indian markets rallied sharply on the monthly expiry, rising over per cent. After the beginning of the range, the benchmark indices rose gradually and gained a noticeable momentum in the last half hour.

As a result, the Sensex hit a new high and the Nifty also moved closer to that mark, closing at 18,484 points. All sectors contributed to the migration with IT outperforming others. Broader indices also rose slightly, but participation was limited.

Markets have regained buoyancy and we expect the tone to continue but participants should not get ahead of themselves and continue with selective buying, said Ajit Mishra, VP – Research, Religare Broking Ltd. “The banking and IT package looks good for us, while others see a mixed trend.”

Mishra reiterates the choice of major indices and quality midpoints and suggests focusing more on overnight risk management.

Here is a list of things to watch out for on November 25, 2022

Technical inspection

Nifty: Technically, 16611 and 16888 are the next target levels for Nifty, while 18400 and 18250 will act as immediate and strong support levels. There are no signs of weakness and the Nifty respects its moving averages nicely. Nifty IT is also showing signs of strength and it may start doing well once it manages to take out the 30500 mark decisively.

Banknifty continues its performance and is likely to head towards the 44000 mark; however, 43333 is an immediate barrier. Conversely, 42600 has become an immediate support level.

Santosh Meena, Head of Research, Swastika Investmart Ltd.

Key support and resistance levels for Nifty50:

The Nifty50 rose 0.13 percent to 18,267. Key pivot support (Fibonacci) for the index is set at 18346.04, 18290.46 and 18200.5 while resistance is set at 18525.96, 18581.54 and 18671.5.

Key support and resistance levels for Nifty Bank:

Nifty Bank rose 0.64 percent to 42,729. Key pivot support (Fibonacci) for the index is set at 42852.37, 42759.43 and 42609.0, while resistance is set at 43153.23, 43246.17 and 43396.6.

Open gross interest:

Open interest means the number of contracts open or outstanding in futures trading in NSE at any given time. One seller and one buyer create one contract.

Here are the gross values โ€‹โ€‹of the open interest positions taken by the four participants, ie. Client is Clients are the retail investors who invest in the derivatives, DIIs are domestic individual investors, FIIs are foreign institutional investors and Pro are owners and brokerage firms trading on their own behalf.

Image Source โ€“ Stockedge

Stocks in the news:

Future Consumer: The board decides to cancel the merger of Integrated Food Park Limited and company

PNB gets government approval to divest UTI AMC stake

Laurus Labs buys 26 percent stake in Ethan Energy at Rs 52.70/share; using 100 percent output from Ethan Energy’s 10 MW solar power plant

G Rengarajan steps down as Chief Financial Officer (CFO) of BAL Pharma

PVR opens 12 screen superlex in Thiruvananthapuram, Kerala

Biocon Biologics allots shares to Biocon for Rs 2,205.63 ($270 million). Earlier this month, there was a proposed acquisition of Viatris’ biosimilar assets by Biocon Biologics

Corporate Actions

Nile Ltd: Ex interim dividend 20% at Rs 2 per share

Manaksia Ltd: Ex interim dividend 30% at Rs 3 per share

Roni Households: Rights issue of 1 share for every 5 shares offered at Rs 70 per share

Ajooni Biotech: Rights issue of 29 shares for every 30 shares offered at Rs 6 per share

Dev Information Tech: Switch from Rs 10 to Rs 5

International Education: Ex interim dividend 30% at Rs 1.5 per share

FII activity on Thursday:

Foreign portfolio investors (FPIs) remained net buyers to the tune of Rs 1231.98 crore in Indian markets while domestic institutional investors (DIIs) were net sellers to the tune of Rs 235.66 crore, preliminary data showed on the NSE.

FII Index and Stock F&O:

Image source – Stockedge

Bulk offer:

Keystone Realtors Limited: Plutus Wealth Management LLP bought 17,10,000 shares of the company at a weighted average price of Rs 555.03 per share on the NSE, mass trading data showed.

Fino Payments Bank Ltd: WF Asian Smaller Companies Fund Limited bought 34,21,845 equity shares in the company at a weighted average price of Rs 228.77 per share on the NSE, total trade figures showed.

Venus Pipes & Tubes Ltd: Hemant Rajnikant Shah sold 1,05,000 shares of the company at a weighted average price of Rs 649.46 per share on the NSE, total trade figures showed.

Vivo Collab Solutions Ltd: Desai Jagruti R bought 16,000 shares of the company at a weighted average price of Rs 100.7 per share on the NSE, total trade figures showed.

Shares under F&O ban on NSE

No stocks were placed under F&O ban before Friday. Securities in the blackout period under the F&O section include companies where the security has crossed 95 percent of the market benchmark.

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