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Friday, January 27, 2023

Traders Guide: Here are the 10 things to know before the market opens on Monday, January 23

Traders Guide, NSE Nifty50, BSE Sensex: Indian markets consolidated in a tight range for the fourth week in a row and ended slightly higher on Friday. The tone was dovish to begin with, however buying of select heavyweights in the middle helped the index go a bit higher.

The bias shifted south again in the final sessions due to profit taking in global indices. Consequently, the reference indices, Nifty and Sensex, closed at levels of 18,027.65 and 60,621.77.

Meanwhile, continued buying in the IT package combined with a recovery in major energy and banking firms helped the index close in the green. The underperformance of the broader indices continued for another week as they lost in the range of 0.7 to 1.10 percent.

Here is a list of things to keep in mind on January 23, 2022

What should investors do on Monday?

Markets will react first to major performers like Reliance, ICICI Bank and Kotak Bank in early trading on Monday. Global signals are currently weighing on sentiment, so a positive surprise on the earnings front could take some of the pressure off.

In the meantime, we reiterate our view to continue with a stock-specific trading approach until we see an improvement in share and stability on the global front.

-Ajit Mishra, Vice President of Technical Research, Religare Broking Ltd.

Also Read: Market Next Week: Axis Bank, Maruti, Tata Motors Results, Derivatives Monthly Expiration, Global Signals Among Top Signals For Street

technical perspective

Technically, the Nifty is trading in a well-defined trading range of 17800-18250, but it is tightening so we can expect a breakout or breakout. The move is like what happened in 2022, when Nifty formed doji candlesticks in the second and third weeks of January before breaking out in the fourth week before the quote.

On the upside, if Nifty manages to break out the 50-DMA of 18250, then we can expect a rally towards the 18500 and 18650 levels. On the downside, a group of 20 and the 100-DMA of 18040–17940 is a zone. of immediate demand, while 17800 is a sacrosanct support level. If Nifty falls below the 17800 level, then 17625 and 17425 will be the next support levels.

Bank Nifty is also in a well defined trading band of 41725–42725; you need to get this band out for more direction. If it breaks above 42725, a move towards the 43500 and 44000 levels is likely. On the other hand, any major weakness will only be seen with a decisive move below the 41725 level.

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

Key support and resistance levels for Nifty50:

The Nifty50 closed down 0.44% at 18,027.65. Key pivot (Fibonacci) point support for the index is located at 18013.74, 17983.25 and 17933.9, while resistance is located at 18112.45, 18142.95 and 18192.3.

Key support and resistance levels for Nifty Bank:

The Nifty Bank closed 0.42 percent higher at 42,506.80. Key pivot (Fibonacci) point support for the index is located at 42396.3, 42315.33 and 42184.27, while resistance is located at 42658.43, 42739.4 and 42870.46.

Gross open interest:

Open Interest means the number of contracts open or pending in futures trading on NSE at any time. A seller and a buyer together create a contract.

Here the gross values ​​of the Open Interest Positions taken by the four participants, namely, Client are Clients are the retail individual investors investing in the derivative instruments, DII are national individual investors, FII are foreign institutional investors and Pro are the owners and brokerage firms that trade on their own behalf.

Image source – Stockedge

Stocks in Third Quarter Earnings and News

McLeod Russel India – Board approves execution of exclusivity agreement with Carbon Resources to discuss, negotiate and evaluate a mechanism for one-time payment of the company’s debt with its identified lenders

SBI has reached an agreement to buy a 40% stake in Commercial lndo Bank LLC (CIBL), Moscow, owned by Canara Bank.

63 Moons: Bombay High Court overturns Yes Bank administrator’s order in AT1 bond case against company.

Strides Pharma Science: WHO inspection completed at Puducherry facility. This facility serves the US and other regulated markets.

ICICI Bank reported a 34.5% increase in its net profit to Rs 8,792 crore in the December 2022 quarter on a consolidated basis, helped by healthy overall performance.

Reliance Industries Ltd reported a 15 per cent drop in its net profit to Rs 15,792 crore for the third quarter, according to a company’s stock exchange filing.

Also Read: Q3 2023 Results: IEX, Ramkrishna Forgings, JSW Energy Announce December Quarter Results – FEATURED

The retail arm of Reliance Industries reported a 6.24% rise in its net profit to Rs 2.4 billion for the December 2022 quarter.

Reliance Industries’ telecom arm Jio posted a 28.3% year-on-year rise in its net profit to Rs 4,638 crore for the December 2022 quarter amid a steady increase in subscriber base and realizations for the connectivity business.

Kotak Mahindra Bank reported a 31 per cent rise in its stand-alone profit to Rs 2,792 in the quarter ending December 2022, helped by an improvement in net interest income.

UltraTech Cement reported a 37.9% decline in its consolidated net profit to Rs 1,062.58 crore for the third quarter of fiscal year 2022-23.

SBI Life Insurance reported a more than 16 per cent decline in net profit to Rs 304 crore in the third quarter ending December 2022.

IDFC First Bank reported on Saturday that its net profit doubled to Rs 605 crore for the quarter ending December 2022, driven by growth in operating income.

Punjab & Sind Bank on Saturday reported a 24 per cent rise in profit to Rs 373 crore for the quarter ending December 2022, helped by healthy growth in interest income and declining bad loans.

Union Bank of India reported on Friday that it doubled in its December quarter net to Rs 2,245 crore, helped by a big jump in recoveries on previously canceled loans.

RBL Bank reported a 34% growth in its December quarter net profit of Rs 209 crore and the bank’s total revenue increased 11% yoy to Rs 1,767 crore and net interest income increased 14% to Rs 1,148 crore rupees for the quarter ended December 2022.

Indian Energy Exchange (IEX) on Friday reported a more than 4 per cent decline in its consolidated net profit to Rs 77.21 crore in the December quarter.

JSW Energy on Friday reported a 45 per cent decline in its consolidated net profit to Rs 180 crore for the December 2022 quarter.

Ramkrishna Forgings posted a 35% increase in its consolidated net profit for the December quarter to Rs 61.04 crore, mainly due to higher revenue.

LTIMindtree posted a consolidated net profit of Rs 1,000.7 crore in the December quarter, a 4.6% decrease from the same period a year earlier due to the one-time impact of merger-related integration cost.

FII activity on Friday:

Foreign Portfolio Investors (FPIs) remained net sellers to the tune of Rs 2002.25 crore in the Indian markets, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1509.95 crore, according to showed provisional data in the NSE.

Also Read: Overseas Portfolio Investors Pull Rs 15,236 Cr From Indian Stocks In January So Far Amid Recession Fears

FII Index and F&O Shares:

Image source – Stockedge

Bulk Deals:

Hi-Tech Pipes Limited: Kusum Aggarwal sold 66,000 equity shares in the company at the weighted average price of Rs 937.16 per share on the NSE, bulk trading data showed.

Chaman Metallics Limited – Hem Securities Limited PMS account bought 2,01,000 equity shares in the company at the weighted average price of Rs 55.71 per share on the NSE, bulk transaction data showed.

Generic Eng Cons Proj Ltd: Rasiklal P Sanghavi (Huf) bought 2,79,000 equity shares in the company at the weighted average price of Rs 67 per share on the NSE, bulk transaction data showed.

Agri-Tech (India) Limited: Manish Verma bought 34,280 equity shares in the company at the weighted average price of Rs 118.45 per share on the NSE, bulk trading data showed.

Shares under F&O ban on NSE

Delta Corp, L&T Finance and PVR are under the F&O ban for Monday. Stocks in the blackout period in the F&O segment include companies where the stock has exceeded 95 percent of the market-wide position limit.

With PTI Inputs

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