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Trade Setup: Top 14 things to know before market opens on June 22, 2022

Sensex rose 934.23 points or 1.81% to 52,532.07 and the Nifty was up by 288.65 points or 1.88% to 15,638.80
Nifty or India VIX, fell 5.67% to 21.14 on Tuesday
Asian markets ended mostly higher on Tuesday

Indian equity benchmarks were positive for second consecutive day and ended Tuesday’s session with gains of around two percent, led by a strong rebound across all sectors amid positive cues from the global markets.

The Nifty50 has formed a long bull candle on the daily chart in a positive sign, confirming a short term bottom reversal, according to Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

The 50-scrip index faces crucial resistance around 15,700-15,800 levels, where weakness may emerge, he said.

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Indian Indices

Sensex rose 934.23 points or 1.81% to 52,532.07 and the Nifty was up by 288.65 points or 1.88% to 15,638.80 in the previous session. Sensex touched high and low of 52,799.40 and 51,808.76, respectively. There were 29 stocks advancing against 1 stock declining on the index. Nifty traded in a range of 15,707.25 and 15,419.85. There were 48 stocks advancing against 2 stocks declining on the index.

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Broader Indices

The broader indices ended in green; the BSE Mid cap index rose 2.42%, while Small cap index was up by 2.99%. On the sectoral front, Oil & Gas was up by 5.96%, Energy was up by 4.95%, Consumer Durables was up by 3.93%, Metal was up by 3.90% and Realty was up by 3.79%, 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 5.67% to 21.14 on Tuesday.

Support and Resistance levels

The key support level for the Nifty is placed at 15,470, followed by 15,301. If the index moves up, the key resistance levels to watch out for are 15,757 and 15,876, according to pivot charts.

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US Markets

The S&P 500 rose 89.95 points, or 2.45%, to 3,764.79.

The Dow Jones Industrial Average fell 641.47 points, or 2.15%, to 30,530.25.

The Nasdaq rose 270.95 points, or 2.51%, to 11,069.30.

The Russell 2000 index of smaller companies rose 28.34 points, or 1.70%, to 1,694.03.

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Asian Markets

Asian markets ended mostly higher on Tuesday. The Nikkei 225 rose 1.84%, the Hang Seng rose 1.87% while the Shanghai Composite fell 0.26%.

European Markets

European markets ended higher on Tuesday, Germany’s DAX was up by 0.20%, France's CAC 40 was up by 0.75% and London's FTSE 100 was up by 0.42%.

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Major News Headlines

Adani Enterprises among 11 bidders in race for coal import tenders of Coal India

Adani Enterprises, Chettinad Logistics, and Mohit Minerals are among the 11 coal importers to have shown interest in the bidding for the first-ever tended issued by national miner Coal India (CIL). Recently, state-owned NTPC awarded 6.25 million tonnes (mt) of imported coal tender worth Rs 8,300 crore to Adani Enterprises. CIL issued a tender for purchasing imported coal for power-generating companies (gencos) after the Centre directed it to meet the shortfall in the domestic coal supply chain. CIL has called for bids to supply 2.4 mt of coal to be delivered for the July to September 2022 period. The estimated value of the contract is Rs 3,100 crore, CIL said in the tender document.

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Jain Irrigation to merge international irrigation business with Temasek’s Rivulis

In a move to cut consolidated debt, Jain Irrigation Systems Ltd (JISL) will merge its International Irrigation Business (IIB) with Temasek-owned Rivulis Pte Ltd. The cash proceeds will be used to pay off Rs 2,700 crore of overseas debt. IIB’s enterprise value is fixed at Rs 4,200 crore. After the transaction, Jain irrigation will hold 22% (valued at Rs 1,300 crore) in Rivulis. Around Rs 2,700 crore will be used to pay off overseas debt and Rs 200 crore will be used to settle receivables, said Anil Jain, Managing Director of Jain Irrigation.

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Hindustan Motors to sell Contessa brand to SG Corporate Mobility

CK Birla Group firm, Hindustan Motors Ltd said it has agreed to sell its ‘Contessa’ brand to SG Corporate Mobility Pvt Ltd for an undisclosed amount. The company has executed a brand transfer agreement with SG Corporate Mobility on June 16, 2022, for the transfer of the Contessa brand, including the trademarks having application numbers and certain related rights of the brand, the company said in a regulatory filing.

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Hero MotoCorp launches Euro-5 compliant variants in Turkiye

The two-wheeler manufacturer launched Euro-5 compliant variants of its three globally popular products (Xpulse 200 4V motorcycle and Dash 110 & Dash 125 scooters), in Turkiye. Hero MotoCorp has been operating in Turkiye since 2014 and caters to its customers through a network of more than 100 touchpoints, which provide sales, service, and spares.

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Bulk Deal data

HOUSING DEVELOPMENT FINANCE COPORATION LIMITED sold 4,35,796 shares in Ansal Housing and Construction at Rs 7.04 per share on the NSE.

SAPAN ANIL SHAH sold 1,86,000 shares in Rachna Infra Limited at Rs 160.70 per share on the NSE.

LUHARUKA MEDIA & INFRA LIMITED sold 5,51,627 shares in Vivimed Labs Limited at Rs 7.66 per share as per NSE.

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DII and FII data

Foreign institutional investors (FIIs) sold shares worth a net Rs 2,701.21 crore, while domestic institutional investors (DIIs) bought shares worth a net Rs 3,066.41 crore in the Indian equity market on June 21, as per provisional data available on the NSE.

NSE F&O Ban

Indiabulls Housing Finance and RBL Bank remained under the F&O ban for June 22. 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.

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Trade Setup: Top 14 things to know before market opens on June 22, 2022

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