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Last Updated : May 02, 2019 08:54 PM IST | Source: Moneycontrol.com

Trade Setup for Friday: Top 15 things to know before Opening Bell

On May 2 the Sensex ended 35.78 points lower at 39031.55, while Nifty was down 6.50 points at 11748.20.

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Benchmark indices failed to hold 11,750 level and ended marginally lower in lacklustre trade on May 2. The Sensex ended 35.78 points down at 39,031.55, while Nifty closed 6.50 points lower at 11,748.20.

Yes Bank, Bharti Infratel, Power Grid Corp, HDFC Bank, and Hero Motocorp were the top gainers on the Nifty, while Britannia Industries, Zee Entertainment, Tata Motors, ICICI Bank and IndusInd Bank were among losers.

Among sectors, all indices except infra ended in the red led by IT, pharma, FMCG, auto and bank. BSE Midcap index fell 0.61 percent, while BSE smallcap ended 0.21 percent lower.

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We have collated 15 data points to help you spot profitable trades:

Key support and resistance level for Nifty

Nifty closed at 11,724.8 on May 2. According to the Pivot charts, the key support level is placed at 11,686.43, followed by 11,648.07. If the index starts moving upward, key resistance levels to watch out are 11,776.23 and 11,827.67.

Nifty Bank

The Nifty Bank closed at 29,708.6, down 56.2 points, on May 2. The important Pivot level, which will act as crucial support for the index, is placed at 29,591.84, followed by 29,475.07. On the upside, key resistance levels are placed at 29,872.34, followed by 30,036.07.

Call options data

Maximum Call open interest (OI) of 11.99 lakh contracts was seen at the 12,000 strike price. This will act as a crucial resistance level for the May series.

This was followed by 11,800 strike price, which now holds 7.68 lakh contracts in open interest, and 11,700, which has accumulated 7.06 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 11,700, which added 1.73 lakh contracts, followed by 12,200 strike that added 0.49 lakh contracts.

There was no Put unwinding seen.

call

Put options data

Maximum Put open interest of 17.64 lakh contracts was seen at 11,500 strike price. This will act as a crucial support level for the May series.

This was followed by 11,700 strike price, which now holds 13.98 lakh contracts in open interest and 11,800 strike price, which has now accumulated 10.18 lakh contracts in open interest.

Put writing was seen at the strike price of 11,800 that added 1.48 lakh contracts, followed by 11,700 strike price that added 1.36 lakh contracts.

There was hardly any Put unwinding seen.

put

Stocks with a high delivery percentage

High delivery percentage suggests investors are accepting the delivery of the stock, which means that investors are bullish on it.

high

35 stocks saw a long build-up

long

42 stocks saw short covering

A decrease in open interest along with an increase in price mostly indicates short covering.

shiort

79 stocks saw a short build-up

An increase in open interest along with a decrease in price mostly indicates a build-up of short positions.

short bulid

42 stocks saw long unwinding

long unwining

FII & DII data

Foreign Institutional Investors (FIIs) bought shares worth Rs 597.54 crore while Domestic Institutional Investors (DIIs) sold Rs 791.69  crore worth of shares in the Indian equity market on May 2, as per provisional data available on the NSE.

Fund Flow Picture

fii

Bulk Deals on May 2

bulk

Analyst or Board Meet/Briefings

Vardhman Textiles will hold a board meeting on May 9 to consider financial results for the period ended March 31, 2019, and recommend dividend, if any, for the FY19.

PNB Housing Finance will consider and approve the financial results for the period ended March 31, 2019, dividend and fundraising on May 9

Dilip Buildcon will consider and approve the financial results for the period ended March 31, 2019, and dividend on May 10

Apollo Tyres' board meeting is scheduled on May 9 to consider and approve the financial results for the period ended March 31, 2019, dividend and fundraising

Stocks in news:

Godrej Properties announced it will raise funds of up to Rs 2,500 crore

Standard Life will sell 1.78 percent stake in HDFC Life Insurance on May 3 & May 5

Tata Motors total domestic sales for April 2019 declined by 20 percent YoY to 42,577 units against 53,511 units

Orient Paper Q4 net profit jumped 105 percent to Rs 32.4 crore versus Rs 15.8 crore YoY

Blue Star Q4 net profit was at Rs 79.8 crore versus Rs 31.7 crore, revenue grew 18.5 percent YoY to Rs 1,595.8 crore from Rs 1,346.3 crore

One stock under ban period on NSE

For May 3, Jet Airways is in the list for stocks under a ban. Securities in ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

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First Published on May 2, 2019 07:00 pm
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