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SGX Nifty tepid, Nifty technical view, stocks under F&O ban, Q4 results; key things to watch out on Monday

BSE Sensex and Nifty 50 were staring at a tepid start on Monday, as suggested by trends on SGX Nifty in early trade.

NSE Nifty 50, stock market
ive stocks – BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, and Punjab National Bank – are under the F&O ban for 23 May 2022. Image: Pixabay

BSE Sensex and Nifty 50 were staring at a tepid start on Monday, as suggested by trends on SGX Nifty in early trade. Nifty futures were ruling just 10 points up at 16,242.50 on Singaporean Exchange. In the previous session, the BSE Sensex ended 1,534.16 points or 2.91% up at 54,326.39, and the NSE Nifty 50 shut shop at 16,266.20, up 456.80 points or 2.89%. Technical analysts said that the Nifty 50 index has been witnessing wild swings within the 15,700-16,400 range and currently trading closer to the upper band.

Global market set up: Asian stock markets were trading mixed in early trade on Monday on global concerns. Japan’s Nikkei 225 rose 0.44%, while the Topix climbed 0.57%. In overnight trade on Wall Street on Friday, the S&P 500 closed broadly unchanged, reversing a sharp intraday decline that had briefly put it into bear market territory. The Dow Jones Industrial Average rose 8.77 points to 31,261.90 after reversing losses of more than 600 points. The Nasdaq Composite fell 0.3% on Friday.

Call, Put OI: Nifty Put options OI distribution shows that 16000 has highest OI concentration followed by 15900 and 16200 which may act as support for current expiry. Nifty Call strike 16300 followed by 16500 witnessed significant OI concentration and may act as resistance for current expiry, Rajesh Palviya, VP – Research (Head Technical & Derivative) at Axis Securities, told FinancialExpress.com.

Q4 results today: BSE-listed companies such as Zomato, TRF, SAIL, Bharat Electronics, Nelcast, Pricol, The Ramco Cement, TTK Healthcare, Patel Engineering, Igarashi Motors, Graphite India, Divis Laboratories were set to announce their quarterly earning today.

FII and DII acticity: On Friday, foreign institutional investors (FIIs) have sold shares worth Rs 1,265.41 crore, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 2,148.95 crore worth of shares on a net basis in Indian equity market.

Stocks under F&O ban: Five stocks – BHEL, Delta Corp, GNFC, Indiabulls Housing Finance, and Punjab National Bank – are under the F&O ban for 23 May 2022. 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.

Nifty technical view: “While we remain open to further pullback rallies in the very near-term, we must remember that the intermediate trend remains down. The bears would gain more control once the recent intermediate low of 15735 is broken. Till then enjoy the rally till it lasts,” Subash Gangadharan, Senior Technical and Derivative Analyst, HDFC Securities, said.

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