Trade Setup: Top 13 things to know before market opens on September 1, 2022

Indian equity benchmarks had a fantastic trading
day on Tuesday, with frontline gauges posting gains of over 2.5% as buying
interest was seen across all sectors. After the gap-up start, the benchmarks
moved from strength to strength till the end and settled around the day’s high.

The Nifty50 has formed a long bull candle on the
daily chart, suggesting another round of uptrend in the near term, according to
Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

The 50-scrip index appears to be preparing for a
decisive breakout above important resistance at around 17,850-17,900 levels, he
said.

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Indian Indices

The Sensex 1564.45 points or 2.70% to 59,537.07
while the Nifty was up by 446.40 points or 2.58% to 17,759.30 at the close of
trading on Tuesday. The Sensex moved in a high and low band of 59,599.78 and
58,245.49. All 30 stocks were advancing on the index. The Nifty traded in a
range of 17,777.65 and 17,401.50. All 50 stocks were advancing on the index.

Broader Indices

The broader indices ended in green with the BSE
mid-cap index up by 1.97% and the small-cap index up by 1.40%. The top gaining
sectoral indices on the BSE were Realty up by 3.51%, Bankex up by 3.33%,
Utilities up by 2.82%, Power up by 2.82% and Oil & Gas up by 2.65%, while
there were no losing sectoral indices on the BSE.

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India VIX Index

Nifty or India VIX, a gauge of the market’s
expectation of volatility over the near term, fell 5.66% to 18.70 on Tuesday.

SGX Nifty

The trends on SGX Nifty indicate a negative opening
for the index in India with a 44.5 point loss. The Nifty futures were trading at
17,465.50 on the Singaporean Exchange at around 06:47 hours IST.

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Support and Resistance levels

The key support for the Nifty is placed at 17,515
followed by 17,270. If the index moves up, the key resistance levels to watch
out for are 17,891 and 18,022, according to pivot charts.

US Markets

The S&P 500 fell 31.16 points, or 0.78%, to 3,955.00.

The Dow Jones Industrial Average fell 280.44
points, or 0.88%, to 31,510.43.

The Nasdaq composite fell 66.93 points, or 0.56%,
to 11,816.20.

The Russell 2000 index of smaller companies fell 11.48
points, or 0.62%, to 1,844.12.

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Asian Markets

Asian markets ended mostly lower on Wednesday. The
Nikkie 225 fell 1.42%, the KOSPI Composite fell 1.84% and the Shanghai
Composite fell 0.78% and the Hang Seng rose 0.027%.

European Markets

European markets ended mostly lower on Wednesday.
Germany’s DAX was down by 0.97%, France’s CAC 40 was down by 1.37% and London’s
FTSE 100 was down by 1.05%.

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Major News Headlines

India GDP grows 13.5% in first
quarter of 2022-23 fiscal

India’s economy grew at a sharp 13.5% in the April
to June quarter, sharply higher than the 4.1% growth rate the preceding
quarter, according to data released by National Statistical Office on
Wednesday. The GDP had expanded by 20.1% in the corresponding quarter of the
previous financial year 2021-22.

“Nominal GDP or GDP at Current Prices in Q1
2022-23 is estimated at Rs 64.95 trillion, as against Rs 51.27 trillion in Q1
2021-22, showing a growth of 26.7% as compared to 32.4% in Q1 2021-22,”
said Ministry of Statistics and Programme Implementation in a statement.

Real GDP or Gross Domestic Product at constant
(2011-12) prices in April-June quarter is estimated to attain a level of Rs
36.85 lakh crore, as against Rs 32.46 crore in corresponding quarter of
previous fiscal, showing a growth of 13.5% as compared to 20.1% in Q1 of
financial year 2021-22.

Gross Value Added (GVA) for the April-June quarter
of fiscal 2023 has come in at 12.7%.

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Reliance Retail buys soft drink
brands Campa, Sosyo from Pure Drinks Group

Reliance Retail has acquired soft drink brands
Campa and Sosyo from New Delhi-based Pure Drinks Group. Campa’s acquisition
could put the company in direct competition with Pepsi and Coca-Cola. Reliance
acquired Campa for around Rs 22 crore, according to a report by The Economic
Times.

The brand is expected to be relaunched in October
this year with its iconic cola, lemon, and orange flavors. The products will be
available for purchase in Reliance Retail stores, Jio Mart, and local kirana
stores.

The news of the acquisition comes after Isha
Ambani, director of Reliance Retail Ventures Limited, announced on August 29
that the retail arm of the company is set to enter into the FMCG segment.

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Bulk Deal data

Savita Chandrakant Rathi sold 1,56,500 shares in
AKG Exim Limited at Rs 47.00 per share on the Nse.

Yuga Stocks And Commodities Private Limited bought
1,30,000 shares in Agni Green Power Limited at Rs 31.61 per share on the Nse.

Ashit Mahendra Mehta sold 4,16,000 shares in B.C.
Power Controls Limited at Rs 5.60 per share on the Nse.

Sidhivinayak Chemtech Private Limited sold 5,18,000
shares in Best Agrolife Limited at Rs 971.21 per share on the Nse.

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SKSE Securities Limited bought 4,52,501 shares in
Debock Industries Limited at Rs 46.77 per share on the Nse.

Multiplier Share & Stock Advisors Private
Limited bought 20,00,000 shares in Integra Essentia Limited at Rs 6.95 per
share on the Nse.

Gayi Adi Holdings Private Limited sold 4,49,273
shares in Stampede Capital Limited at Rs 10.30 per share on the Nse.

Gaurav Chordia sold 73,000 shares in Silgo Retail
Limited at Rs 25.18 per share on the Nse.

Jay Chloro Chem Private Limited bought 32,000
shares in Veekayem Fashion & Apparels Limited at Rs 44.18 per share on the
Nse.

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DII and FII data

Foreign institutional investors (FIIs) have sold
shares worth a net Rs 4,165.86 crore, whereas domestic institutional investors
(DIIs) sold shares worth a net Rs 656.42 crore on August 30, as per provisional
data available on the NSE.

NSE F&O Ban

There is not a single stock/security that has been
placed under the F&O ban for September 1. 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.