Trade Setup: Top 11 things to know before market opens on October 6, 2022

Indian equity benchmarks bounced
back on Tuesday with frontline gauges surpassing their crucial 58,000 (Sensex)
and (17,250) Nifty levels on sustained buying by fund and retail investors. Key
indexes made gap-up opening and showed strength throughout the day amid
positive trends in global equity markets. 

The Nifty50 has formed a long
bull candle on the daily chart with a gap-up opening, reflecting an upside
breakout of a larger consolidation movement around 16,800-17,200 levels,
according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

This has filled
the opening gap of September 26 at 17,290 in a positive sign, and one can
expect a sharp move beyond 17,300 up ahead, he said.

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Indian Indices

The Sensex rose 1276.66
points or 2.25% to 58,065.47 while the Nifty was up by 386.95 points or 2.29%
to 17,274.30 at the close of trading on Tuesday. The Sensex moved in a high and
low band of 58,099.94 and 57,506.65. There were 27 stocks advancing against 3
stocks declining on the index. The Nifty traded in a range of 17,287.30 and
17,117.30. There were 48 stocks advancing against 2 stocks declining on the
index.

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Broader Indices

The broader
indices ended in green with the BSE mid-cap index up by 2.42% and the Small cap
index up by 1.49%. The top gaining sectoral indices on the BSE were Metal up by
3.43%, Financial Services up by 2.82%, Bankex up by 2.74%, IT up by 2.68% and
TECK up by 2.47%, while there were no losing sectoral indices on the BSE.

India VIX Index

Nifty or India
VIX, a gauge of the market’s expectation of volatility over the near term, fell
8.40% to 19.57 on Tuesday.

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SGX Nifty

The trends on
SGX Nifty indicate a positive opening for the index in India with a 88.54 point
gain. The Nifty futures were trading at 16,427.5 on the Singaporean Exchange at
around 6.57 hours IST.

Support and
Resistance levels

The key support
level for the Nifty is placed at 17,165, followed by 17,056. If the index moves
up, the key resistance levels to watch out for are 17,335 and 17,396, according
to pivot charts.

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US Markets

The S&P 500
fell 7.65 points, or 0.20%, to 3,783.28 on Wednesday.

The Dow Jones
Industrial Average fell 42.45 points, or 0.14%, to 30,273.87.

The Nasdaq
composite fell 27.77 points, or 0.25%, to 11,148.64.

The Russell 2000
index of smaller companies fell 13.07 points, or 0.74%, to 1,762.69.

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Asian Markets

Asian markets
ended mostly higher on Wednesday. The KOSPI Composite rose 0.26%, the Nikkei
225 rose 0.70% and the Straits Times rose 0.39%.

European Markets

European markets
ended mostly in green on Friday. Germany’s DAX was down by 1.21%, France’s CAC
40 was down by 0.90% and London’s FTSE was down by 0.48%.

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Bulk Deal data

Manish Verma bought
3,72,989 shares in Ansal Housing and Construction Limited at Rs 5.84 per share
on the Nse.

Laxmi Kant sold 5,00,000
shares in JTL Infra Limited at Rs 252.66 per share on the Nse.

Singla Ashok
sold 2,95,000 shares in JTL Infra Limited at Rs 252.15 per share on the Nse.

Jausukhbhai
Thathagar sold 1,80,000 shares in Sabar Flex India Limited at Rs 16.60 per
share on the Nse.

Multiplier Share
& Stock Advisors Private Limited sold 1,70,000 shares in Sabar Flex India
Limited at Rs 16.51 per share on the Nse.

Capgenius
Advisory Private Limited sold 4,58,854 shares in Suumaya Industries Limited at
Rs 45.02 per share on the Nse.

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DII and FII data

Foreign
institutional investors (FIIs) have bought shares worth a net Rs 1,344.63
crore, whereas domestic institutional investors (DIIs) purchased shares worth a
net Rs 945.92 crore on October 4, as per provisional data available on the NSE.

NSE F&O Ban

No/Stocks have
been placed under the F&O ban for October 6. Securities in the ban period
under the F&O segment include companies in which the security has crossed
95% of the market-wide position limit.