10 Things You Should Know Before Making an Opening Trade on November 22nd

The Indian market ended the day’s session with a negative note on Thursday, with S & P BSE Senssex and Nifty declining about 0.7% each, driven by metal and car stocks.

On the weekly maturity day, the index started with a negative note, traded with a negative bias throughout the session and closed the session at the 1776.480 level with a loss of 133 points. While the bank was wise, he closed the session at the 37976.25 level with a loss of 65.30 points.

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On the sector side, everything closed in the red while Nifty Auto and Metal were the top losers. Stocks such as SBI, Power Grid, IOC, HDFC Bank and Reliance were the top winners, with Tata Motors, Tech Mahindra, M & M, L & T and HCL Tech being the biggest lags.

Technically, the index shows a breakdown of the uptrend line, ending below 50 DMA. This suggests the weakness of the next trading session.

“From the last four trading sessions, the index has been trading at low highs and lows. This indicates a modification of the next trading session. However, the index has gained support from Bollinger’s lower bands. And the following breaches could be even more negative, “Palak Kothari, Research Associate at Choice Broking, said in a post-market note on Thursday.

“In addition, the index closed below 21 DMA and the Stochastic and MACD indicators are trading a negative crossover, which indicates the weakness of the counter in the next trading session. , The index support level is 17650, but the resistance is 18000 level.

Keep an eye on to find out what could affect today’s transactions. We have collated a list of the top 10 news points that can impact the market, company, or economy.

Global market:

The Wall Street index closed on Friday as the Dow Jones and S & P 500 closed negative, while the Nasdaq Composite rose 0.4%. The Dow Jones fell 269 points to 35,601, the Nasdaq rose 64 points to 16,057, and the S & P500 fell 7 points to 4,697.

Asian market:

The Asian market traded primarily negative or flat around 7:15 am. Japan’s Nikkei Stock Average fell 0.32% (93.71) to 29,652, the Hong Kong Stock Exchange’s Hang Seng Index fell 19 points to 25,040, and the Shanghai Composite Index fell 13 points to 3573.

SGX Nifty:

SGX Nifty Futures traded at 17,741.00, 37 points higher at around 7:25 pm on the IST, suggesting a positive start for the Indian market.

Oil hovering above 6-week lows

Oil prices fell to six-week lows on Thursday as investors wondered how much oil major economies would release strategic stockpiles and how much it would ease pressure on global oil demand. After that, it rose slightly.

Prices fell to six-week lows early in the session as China said it would move to tap reserves. On Wednesday, Reuters reported that the United States is calling on large consumers to consider releasing stockpiles to lower prices.

Soaring gasoline prices and other inflationary pressures have caused political backlash, and Washington has called on China to join China for the first time to cool the market.

Government sells MTNL and BSNL assets

According to a document uploaded to the DIPAM website, the government is selling real estate assets of state-owned carriers MTNL and BSNL at a minimum price of about 970 rupees.

BSNL properties in Hyderabad, Chandigarh, Bhavnagar and Kolkata are for sale at a booking price of approximately 660 rupees.

The Investment and Public Asset Management (DIPAM) website offers MTNL assets in Basari Hill, Goregaon, Mumbai, for sale at a minimum price of around Rupee 310.

So far, FPI has pushed up 19,712 rupees in the November market

Foreign Portfolio Investors (FPI) have been net buyers in the Indian market so far in November at Rs 19,712.

According to depository data, between November 1st and 18th, Rs 14,051 was invested in equities and Rs 5,661 was invested in the debt segment.

This is equivalent to a total net investment of 19,712 rupees for the period. In October, FPI continued to be a net seller of Rs 12,437.

EPFO allows FIAC to call for investment in new products

Saturday’s Retirement Fund Manager EPFO ​​has decided to empower its advisory body, the Financial Investment Audit Board (FIAC), to call for investment in new asset classes such as InvIT.

Currently, the Government of India (NHAI) and Power Grid Corporation (PGCIL) have launched a public sector infrastructure investment trust (InvIT). EPFO also goes to public sector bonds.

This decision was made at the 229th meeting of the Central Board of Directors (CBT), led by Trade Union Minister of Labor Bupender Yadaf, the highest decision-making body of the Employee Provident Fund organization.

The Federal Reserve is calling for a faster tapering as inflation surges.

Federal Reserve President Christopher Waller has urged the central bank to accelerate the pace of declining asset purchases in response to the surge in inflation.

“To me, inflation data is starting to look like heavy snow that stays on the ground for some time, and its development is affecting my expectations of the level of monetary easing needed in the future,” Waller said. .. In a speech at the Financial Stability Center in New York.

“The timing of policy action is the decision of the FOMC (Federal Open Market Committee), but in my part, due to the rapid improvement in the labor market and the deterioration of inflation data, I prefer a faster pace of tapering and a faster pace. We removed the accommodation in 2022, “he said, referring to the Fed’s policy-making committee.

Waller pushed back the argument that monetary policy does not have to respond to temporary price pressures associated with supply constraints.

Government exceeds tax collection target for 2010

The government’s tax collection Kitty is likely to raise the average monthly GST this year to around 115 million rupees, as the net direct tax collection amount by October will approach 600 million rupees, so the budget estimate for this year is That’s what the Revenue Director Tarumbajaji said.

In an interview with PTI, Mr. Bajaji said that the reduction of gasoline and diesel excise and cooking oil tariffs will result in about 80,000 chlore customs this year, and the tax office will begin calculating tax mop-up positions. rice field. For this year’s budget estimate after the number of prepaid taxes in December.

“Even after the refund, I reached about 6 rupees in direct tax until October … it looks good. Hopefully it should be exceeded.

FII and DII data:

As the interim data showed to the NSE, Foreign Portfolio Investors (FPI) were net sellers of Rs 393.062 in the Indian market and Domestic Institutional Investors (DII) were net buyers of Rs 1885.66.

NSE F & O Banned Stocks

On Monday, six stocks, BHEL, Escorts, Idea, Sun TV, SAIL and National Aluminum, were banned from F & O. Securities during the F & O segment ban include companies whose securities exceed 95% of the overall market position limit.

(Information provided by PTI, Reuters and other organizations)

(Disclaimer: The views / suggestions / advice presented here in this article are by investment experts only. ZeeBusiness advises readers to consult an investment adviser before making financial decisions. It is recommended.)

10 Things You Should Know Before Making an Opening Trade on November 22nd

Source link 10 Things You Should Know Before Making an Opening Trade on November 22nd

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