Moneycontrol
Last Updated : Jul 20, 2018 07:37 AM IST | Source: Moneycontrol.com

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

Maximum call open interest (OI) of 41.79 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for July series.

Sunil Shankar Matkar
 
 
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After a positive start, the Nifty50 traded in a range of 70 points throughout the session and closed mildly lower Thursday, forming a bearish candle on the daily charts.

The index remained below its psychological 11,000-mark and registered a bearish candle for the second consecutive session today. Not only frontline but also Nifty Midcap index ended lower for the second day in a row, losing 0.7 percent. In fact, all sectoral indices closed in the red except FMCG.

The current rangebound trade indicated the market eagerly awaits more corporate earnings data to get direction on either side by breaking the range of 10,925-11,080 levels, experts said.

The 50-share NSE Nifty opened higher at 10,999.50 and hit an intraday high of 11,006.50, but immediately wiped out those gains to trade in a tight range of 70 points. The index touched day's low of 10,935.45, before closing 23.40 points lower at 10,957.10.

"As suspected Nifty50 created a range between 11,080–10,925 levels as it registered a Bearish Candle in today's session with an intraday low of 10,935 and bounced back as a mark of respect to the lower boundary of consolidation zone," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

Hence market may continue to remain choppy and rangebound for a couple of days inside this 150 point zone before registering a fresh breakout in either of the directions, he said.

According to him, breach of the lower end i.e a close below 10,900 may drag down the indices by around 150 points below this range which shall result in the test of its 50-day moving average whose value is placed around 10,750 kinds of levels.

Contrary to this, up move will emerge on a close above 11,080, he said. "Hence, traders for time being are advised to remain neutral and initiate positions in the direction of the breakout once it occurs."

India VIX moved down by 0.95 percent at 13.55 levels.

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

Key support and resistance level for Nifty

The Nifty closed at 10,957.10 on Thursday. According to Pivot charts, the key support level is placed at 10,926.23, followed by 10,895.37. If the index starts moving upwards, key resistance levels to watch out are 10,997.23 and 11,037.37.

Nifty Bank

The Nifty Bank index closed at 26,789.65, down 91.25 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 26,671.4, followed by 26,553.1. On the upside, key resistance levels are placed at 26,966.7, followed by 27,143.7.

Call Options Data

Maximum call open interest (OI) of 41.79 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the July series.

This was followed by the 11,100 strike price, which now holds 37.66 lakh contracts in open interest, and 11,200, which has accumulated 34.46 lakh contracts in open interest.

Call writing was seen at the strike price of 11,000, which added 8.49 lakh contracts, followed by 11,300, which added 5.9 lakh contracts.

Call unwinding was seen at the strike price of 10,700, which shed 0.94 lakh contracts, followed by 10,800, which shed 0.3 lakh contracts and 10,500 which shed 0.18 lakh contracts.

Image119072018

Put Options data

Maximum put open interest of 46.22 lakh contracts was seen at the 10,800 strike price. This will act as a crucial support level for the July series.

This was followed by the 11,000 strike price, which now holds 43.04 lakh contracts in open interest, and the 10,600 strike price, which has now accumulated 39.87 lakh contracts in open interest.

The highest Put writing was seen at the strike price of 10,900, which added 6.27 lakh contracts, followed by 11,000 which added 5.87 lakh contracts and 10,500 which added 2.96 lakh contracts.

Put Unwinding was seen at 10,700, which shed over 0.59 lakh contracts, followed by 11,100, which shed 0.18 lakh contracts.

Image219072018

FII & DII data

Foreign institutional investors (FIIs) sold shares worth Rs 315.69 crore while domestic institutional investors bought shares worth Rs 470.02 crore in the Indian equity market on Thursday, as per provisional data available on the NSE.

Fund Flow Picture:

Image819072018

Stocks with high delivery percentage:

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

Image319072018

35 stocks saw a long buildup

Image419072018

49 stocks saw short covering

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

Image519072018

68 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.

Image619072018

54 stocks saw long unwinding

Image719072018

Bulk Deals

Sumeet Industries: Somani Overseas Private Limited bought 5,25,000 equity shares of the company at Rs 11.34 per share.

Raw Edge Industrial Solutions: Display Commercial bought 1,63,200 equity shares of the company at Rs 72.14 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Lumax Auto Technologies: Board meeting to approve unaudited financial results for the April-June quarter is scheduled to be held on July 28.

Cigniti Technologies: Board meeting to approve unaudited financial results for April-June quarter is scheduled to be held on July 31.

Phillips Carbon Black: Board meeting to approve unaudited financial results for April-June quarter is scheduled to be held on July 27.

Supreme Infrastructure: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 24.

Bajaj Finserv: Board meeting to approve financial results for April-June quarter is scheduled to be held on July 25.

Aban Offshore: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 30.

Orient Cement: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 1.

Grasim Industries: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 14.

Texmaco Infrastructure: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 30.

Elecon Engineering: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 1.

Texmaco Rail & Engineering: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 30.

Essel Propack: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 26.

Jubilant Industries: Board meeting to approve financial results for April-June quarter is scheduled to be held on July 26.

DCM Shriram: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 31.

Wanbury: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 9.

Uniphos Enterprises: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 31.

SML Isuzu: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 9.

Schneider Electric Infrastructure: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 27.

JSW Energy: Board meeting to approve financial results for April-June quarter and Conference Call is scheduled to be held on July 27.

Hindustan Bio Sciences: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 8.

IRB Infrastructure Developers: Board meeting to approve financial results for the April-June quarter is scheduled to be held on July 25.

Simplex Papers: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 1.

Simplex Mills Company: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 1.

Chennai Petroleum Corporation: Board meeting to approve financial results for April-June quarter is scheduled to be held on July 30.

CG Power and Industrial Solutions: Board meeting to approve financial results for the April-June quarter is scheduled to be held on August 3.

VST Tillers Tractors: 50th Annual General Meeting of the company is scheduled to be held on August 11.

Sonata Software: 23rd Annual General Meeting of the company is scheduled to be held on August 13.

Timken India: 31st Annual General Meeting of the company is scheduled to be held on August 10.

Mahindra Lifespace Developers: Analyst(s) / institutional investor(s) meeting is scheduled to be held on July 20.

Welspun Corp: Q1FY19 Earnings Conference Call is scheduled to be held on July 23.

Ushdev International: The meeting of the committee of creditors is scheduled to be held on July 20.

Stocks in news

Results on Friday: Wipro, Bajaj Auto, HDFC Standard Life insurance, L&T Finance Holdings, Bajaj Holding, Bata India, Ceat, Havells India, Just Dial, Kansai Nerolac, Hathway Cable, Atul, MCX, Nelco, Sanwaria Consumer, Zee Media Corporation.

Results on Saturday: HDFC Bank, Reliance Power, South Indian Bank.

Bajaj Finserv: Q1 consolidated profit rises 41 percent to Rs 825 crore versus Rs 585 crore; revenue increases 39 percent at Rs 3,943.6 crore versus Rs 2,839 crore (YoY).

Hatsun Agro Product: Q1 profit rises to Rs 37.85 crore versus Rs 35.18 crore; revenue increases to Rs 1,235.67 crore versus Rs 1,168.73 crore (YoY).

Hatsun Agro Product: Company proposes to set up a dairy manufacturing plant in Maharashtra and has identified the location for construction of the Plant. The installation of the dairy plant is expected to be commissioned before the end of December 2019.

Aditya Birla Money: Q1 profit rises to Rs 2.02 crore versus Rs 1.27 crore; revenue increases Rs 42.14 crore versus Rs 35.90 crore (YoY).

JSW Steel: National Company Law Tribunal (NCLT) approves JSW Steel-AION's resolution plan for Monnet Ispat with some modifications.

ABB India: Q2 profit rises 35.8 percent at Rs 102.1 crore versus Rs 75.1 crore; revenue increases 21.5 percent at Rs 2,713 crore versus Rs 2,233 crore (YoY).

Hindalco: No proposal to acquire Aleris has been considered by the board

2 stocks under ban period on NSE

Securities in ban period for the next day's trade under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.

For July 20, Adani Enterprises and Adani Power are present in this list.
First Published on Jul 20, 2018 07:28 am
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