Trade Setup: Top 13 things to know before market opens on June 21, 2022
- Sensex rose 237.42 points or 0.46% to 51,597.87 and the Nifty was up by 56.65 points or 0.37% to 15,350.15
- Nifty or India VIX, fell 1.52% to 22.41 on Monday
- Asian markets ended mostly lower on Monday
Breaking a six-day losing streak, Indian equity benchmarks ended in green after a highly volatile session on Monday, helped by emergence of value buying in shares like HDFC, Hindustan Unilever and Ultratech Cement amid positive cues from European markets. Key indices made a cautious start and fluctuated between gains and losses throughout the day, amid recession fears coupled with aggravated foreign outflows from Indian equities.
The Nifty50 has formed a small positive candle on the daily chart with minor upper and long lower shadows, highlighting the chances of a bounce ahead, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
However, a lack of strength around 15,500 could possibly bring the bears back into action, he warned.
Sensex rose 237.42 points or 0.46% to 51,597.87 and the Nifty was up by 56.65 points or 0.37% to 15,350.15 in the previous session. Sensex touched high and low of 51,714.61 and 51,062.93, respectively. There were 17 stocks advancing against 13 stocks declining on the index. Nifty traded in a range of 15,382.50 and 15,191.10. There were 27 stocks advancing against 23 stocks declining on the index.
Also Read | New WhatsApp update: All you need to know
The broader indices ended in red with the BSE Mid cap index down by 1.39%, while Small cap index fell 2.95%. On the sectoral front, FMCG was up by 1.21%, TECK up by 0.58%, IT up by 0.42%, Consumer Durables up by 0.41% and Finance up by 0.32%, while Metal down by 4.46%, Oil & Gas down by 3.48%, Energy down by 3.26%, PSU down by 2.81% and Basic Materials down by 2.30% were the top losing indices on BSE.
India VIX Index
Nifty or India VIX, a gauge of the market's expectation of volatility over the near term, fell 1.52% to 22.41 on Monday.
Support and Resistance levels
The key support level for the Nifty is placed at 15,233, followed by 15,117. If the index moves up, the key resistance levels to watch out for are 15,425 and 15,499, according to pivot charts.
The S&P 500 rose 8.07 points, or 0.22%, to 3,674.84.
The Dow Jones Industrial Average fell 38.29 points, or 0.13%, to 29,888.78.
The Nasdaq rose 152.25 points, or 1.43%, to 10,798.35.
The Russell 2000 index of smaller companies rose 15.86 points, or 0.96%, to 1,665.69.
Asian markets ended mostly lower on Monday. The Nikkei 225 fell 0.74%, the KOSPI Composite fell 2.04%, the Shanghai Composite fell 0.04% while the Hang Seng rose 0.42%.
European markets ended higher on Monday, Germany’s DAX was up by 1.06%, France's CAC 40 was up by 0.64% and London's FTSE 100 was up by 1.50%.
Major News Headlines
Voda-Idea to raise Rs 500 crore from Vodafone Group
Vodafone Idea said its British shareholder Vodafone Group will invest Rs 500 crore in the company through equity or convertible warrants, following a previous cash injection by its promoters in March. The additional investment comes at a time when India’s largest telecom company is looking to raise Rs 20,000 crore from external investors in debt and equity.
SEBI imposes Rs 30 lakh fine on RIL and two of its compliance officers
Securities Exchange Board of India imposed a penalty of Rs 30 lakh on Reliance Industries and its two compliance officers for not making prompt clarification to the stock exchange pertaining to the Jio-Facebook deal, which was disclosed through the newspaper.The other two officers penalised by SEBI are Savithri Parekh and K Sethuraman. The fine needs to be joint and severally by them within 45 days, according to a SEBI order. The matter is related to alleged lack of fair disclosures of unpublished price sensitive information (UPSI), in the case of Facebook’s 9.99% investment in Reliance subsidiary Jio Platforms in April 2020. The deal was worth Rs 43,574 crores.
Oil ministry extends Alka Mittal’s additional charge as ONGC chairman
Ministry of Petroleum and Natural Gas has approved the extension of additional charge of the post of Chairman and Managing Director (CMD) to Alka Mittal, Director (HR), for two months from July 1 to August 31, 2022, or till the appointment of a regular incumbent to the post, or until further orders, whichever is the earliest.
TCG FUNDS FUND 1 sold 1,58,870 shares in Ajooni Biotech Limited at Rs 43.98 per share on the NSE.
UBS IQ MSCI ASIA APEX 50 ETHICAL ETF bought 2,12,859 shares in Apar Industries Limited at Rs 997.04 per share on the NSE.
SAHASRAR CAPITAL PRIVATE LIMITED sold 2,00,000 shares in Lyka Labs Limited at Rs 114.51 per share as per NSE.
VICCO PRODUCTS BOMBAY PRIVATE LIMITED bought 69,985 shares in Priti International Limited at Rs 116.65 per share as per NSE.
SKY WANDERERS LLP sold 4,05,000 shares in Rachna Infra Ltd at Rs 153.05 per share as per NSE.
Foreign institutional investors (FIIs) sold shares worth a net Rs 1,217.12 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 2,093.39 crore in the Indian equity market on June 20, as per provisional data available on the NSE.
Indiabulls Housing Finance and RBL Bank are under the F&O ban for June 21. 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.