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SGX Nifty in red, Nifty technical view, Q3 results, stocks under F&O ban; things to watch out on Wednesday

Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a muted opening on Wednesday, as suggested by trends on SGX Nifty.

BSE Sensex, Nifty 50
In the early trade, Nifty futures were trading 23.50 points or 0.13 per cent down at 18,115 on Singaporean Exchange. Image: Reuters

Domestic equity market benchmarks BSE Sensex and Nifty 50 were staring at a muted opening on Wednesday, as suggested by trends on SGX Nifty. In the early trade, Nifty futures were trading 23.50 points or 0.13 per cent down at 18,115 on Singaporean Exchange. In the previous session, bears took over Dalal Street in the afternoon, forcing benchmark indices along with broader markets to close deep in red. S&P BSE Sensex ended 554 points or 0.90% lower at 60,754 while the Nifty 50 index closed 195 points or 1.07% at 18,113.

Nifty technical view: Analysts say that the consistent upmove of the last 3-4 weeks seems to have ended on Tuesday with the sharp reversal from the highs. “The placement of key overhead resistance, formation of negative candle pattern and the downside breakout of immediate supports are all pointing towards more weakness in the short term. Any upside from here could find resistance around 18225 levels and that could be a sell on rise opportunity. Next lower levels to be watched at 17800 levels,” Nagaraj Shetti, Technical Research Analyst, HDFC Securities, said.

Nifty Call, PUT OI: Maximum Call open interest was seen at 18300 strike, which will be followed by 18500 strike, and 19000 strike. Call writing was seen at 18300 strike, followed by 18200 strike. Maximum Put open interest was seen at 18000 strike, followed by 17500 strike.

Q3 results FY22 today: BSE-listed companies such as Bajaj Auto, L&T Info, ICICI Lombard General Insurance Company, JSW Energy, Tata Communications, Oracle Financial Services, Syngene International, Sterlite Technologies, Saregama India and Mastek are among the companies that will announce their December quarter results today.

First IPO of CY22 opens today: AGS Transact Technologies Rs 680-crore IPO will open for subscription on Wednesday. The public issue will be the first to open in 2022. Ahead of the IPO AGS Transact Technologies has raised Rs 204 crore from 17 anchor investors at the upper price band of Rs 175 per equity share.

Global markets: Asian stock markets were trading mixed in early trade following an overnight sell-off on Wall Street. Japan’s Nikkei 225 tanked 1.49% while the Topix index was down 1.54%. Hong Kong’s Hang Seng index rose 0.41%. In overnight trade on Wall Street, the Dow Jones Industrial Average lost more than 540 points or 01.51 per cent. The S&P 500 plunged nearly 2 per cent while the tech-heavy Nasdaq Composite declined 2.6 per cent.

FII and DII data: On Tuesday, foreign institutional investors (FIIs) offloaded shares worth Rs 1,254.95 crore, while domestic institutional investors (DIIs) sold shares worth Rs 220.20 crore in the Indian equity market.

Stocks under F&O ban: Six stocks – BHEL, Escorts, Granules India, Indiabulls Housing Finance, Vodafone Idea, and SAIL – are under the F&O ban for January 19. If the open interest of any stock crosses 95% of the MWPL (market-wide positions limits), all F&O contracts of that stock enter a ban period.

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