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

Based on the open interest future percentage, here are the 147 stocks including Sun TV Network, Coromandel International, Vodafone Idea, ONGC, and Mahindra & Mahindra, in which long unwinding was seen.

July 01, 2022 / 09:11 AM IST

The market closed its rangebound session on a negative note, extending losses for the second straight day on June 30, a monthly expiry day for June futures & options contracts. The correction in global counterparts also weighed on the sentiment.

The BSE Sensex dropped eight points to 53,019, while the Nifty50 declined 19 points to 15,780 and formed Doji kind of pattern on the daily charts, which indicates indecisiveness among bulls and bears.

"Normally a formation of Doji after a downtrend and uptrend signal impending trend reversal. But, the present Doji formation within a range movement suggests less predictive value," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

He further said that after the formation of false upside breakout at 15,800 levels on June 27, the absence of any sharp weakness from near the hurdle in the last three sessions could be in favour of bulls to make a comeback from the lows. But, any decisive move below 15,600 levels is likely to negate the bullish bet and could result in sharp weakness down to 15,200 levels, the market expert added.

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Close

The broader space underperformed frontliners with the Nifty Midcap 100 falling 0.8 percent and Smallcap declining half a percent on weak market breadth. About two shares declined for every rising share on the NSE.

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

Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three-month data and not of the current month only.

Key support and resistance levels on the Nifty

As per the pivot charts, the key support level for the Nifty is placed at 15,709, followed by 15,638. If the index moves up, the key resistance levels to watch out for are 15,871 and 15,961.

Nifty Bank

Nifty Bank climbed 155 points to close at 33,425 on Thursday, outperforming broader space. The important pivot level, which will act as crucial support for the index, is placed at 33,183, followed by 32,942. On the upside, key resistance levels are placed at 33,663 and 33,901 levels.

Call option data

Maximum Call open interest of 98.88 lakh contracts was seen at 16,000 strike, which will act as a crucial resistance level in the July series.

This is followed by 15,800 strike, which holds 89.03 lakh contracts, and 16,100 strike, which has accumulated 74.61 lakh contracts.

Call writing was seen at 15,800 strike, which added 26.83 lakh contracts, followed by 15,900 strike which added 4.39 lakh contracts and 16,100 strike which added 51,100 contracts.

Call unwinding was seen at 16,200 strike, which shed 24.08 lakh contracts, followed by 16,500 strike which shed 23.36 lakh contracts and 16,000 strike which shed 17.49 lakh contracts.

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Put option data

Maximum Put open interest of 73.42 lakh contracts was seen at 15,400 strike, which will act as a crucial support level in the July series.

This was followed by 15,500 strike, which holds 71.44 lakh contracts, and 15,700 strike, which has accumulated 69.72 lakh contracts.

Put writing was seen at 15,400 strike, which added 23.69 lakh contracts, followed by 15,600 strike, which added 49,350 contracts and 15,300 strike which added 31,050 contracts.

Put unwinding was seen at 15,000 strike, which shed 23.25 lakh contracts, followed by 15,500 strike which shed 15.77 lakh contracts, and 15,200 strike which shed 14.5 lakh contracts.

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Stocks with a high delivery percentage

A high delivery percentage suggests that investors are showing interest in these stocks. The highest delivery was seen in Bharat Forge, Page Industries, Ambuja Cements, Voltas, and Atul, among others.

Rollovers

Here are the top 10 stocks, which saw highest rollovers on expiry day including Nifty Financial and Indian Oil Corporation which witnessed 100 percent rollovers, followed by PI Industries, Adani Ports, Page Industries and United Spirits.

3 stocks saw long build-up

An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the three stocks - MCX India, Ramco Cements and Honeywell Automation, in which a long build-up was seen.

147 stocks saw long unwinding

A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the top 10 stocks including Sun TV Network, Coromandel International, Vodafone Idea, ONGC, and Mahindra & Mahindra, in which long unwinding was seen.

10 stocks saw short build-up

An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions. Based on the open interest future percentage, here are the 10 stocks including Indian Oil Corporation, Delta Corp, Deepak Nitrite, Indiabulls Housing Finance, and Oberoi Realty, in which a short build-up was seen.

39 stocks witnessed short-covering

A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on the open interest future percentage, here are the top 10 stocks including ABB India, NTPC, REC, Max Financial Services, and United Breweries, in which short-covering was seen.

Bulk deals

(For more bulk deals, click here)

Investors Meetings on July 1

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Bajaj Finance: Officials of the company will interact with a group of institutional investors and funds at San Francisco.

Snowman Logistics: Officials of the company will meet Oldbridge Capital.

Tata Motors: Officials of the company will meet ICICI Prudential Life.

Meghmani Finechem: Officials of the company will meet Jefferies India.

Rajratan Global Wire: Officials of the company will meet B & K Securities.

CreditAccess Grameen: Officials of the company will meet Girik Capital.

Advanced Enzyme Technologies: Officials of the company will meet White Oak Capital.

Aegis Logistics: Officials of the company will meet analysts and investors.

Shaily Engineering Plastics: Officials of the company will meet analysts and investors.

Stocks in News

The Phoenix Mills: The company, RZPL and each of PML subsidiaries (viz. Offbeat Developers-ODPL, Graceworks Realty and Leisure-GRLPL and Vamona Developers-VDPL) have executed an additional subscription agreement. After this, Reco Zinnia (RZPL), owned by GIC (Realty), has completed its second tranche of investment of Rs 400 crore across ODPL, VDPL and GRLPL on private placement basis by subscribing to the equity shares of each of the PML subsidiaries. As a result, Phoenix Mills (PML) and RZPL hold 67.10 percent and 32.90 percent respectively, stakes in each of the PML subsidiaries.

Globus Spirits: GSL will be providing various services starting from engineering to ongoing operations, maintenance, and marketing services for distillery assets owned by Tilaknagar Industries. It has entered into an arrangement for strategic, technical, manufacturing and marketing tie-up with the aim to offer an integrated service to operate the plant at the envisaged rated capacity of 140 KLPD distillery asset owned by TIL located at Ahmednagar, Maharashtra. The company will get service fee as a share of EBIDTA generated by the distillery assets.

UPL: The company has acquired 100 percent holding in Nature Bliss Agro (NBAL) and accordingly, NBAL becomes a wholly-owned subsidiary of the company. NBAL proposes to carry out the business of manufacture and sale of crop protection and allied products, which has synergy with the existing business activities of UPL.

Lupin: The pharma company has received approval from US FDA for its Abbreviated New Drug Application (ANDA) - Paliperidone extended-release tablets. The drug is a generic equivalent of Invega extended-release tablets of Janssen Research and Development, LLC. The product will be manufactured at Lupin's facility in Goa. The drug had estimated annual sales of $152 million in the US as per IQVIA MAT March 2022 data. The drug is used in the treatment of schizophrenia, a mental disorder.

Hindustan Unilever: HUL in its BSE filing said its CEO and Managing Director, Sanjiv Mehta will be appointed as the President Commissioner (Non-Executive Chairman) of PT Unilever Indonesia Tbk (Unilever Indonesia), a public company and member of the Unilever group. He will continue to be Chief Executive Officer and Managing Director of HUL, and President, Unilever South Asia.

Blue Star: CARE has reaffirmed its long term, and short term rating on credit facilities and non-convertible debentures at AA+, but revised the outlook from 'Negative' to 'Stable' based on healthy recovery and demand for air-conditioning and refrigeration products post the ebbing of the second wave of the pandemic and consequent improvement in the operating and financial performance for FY22.

Kridhan Infra: Rajeshree Indradev has resigned as Chief Financial Officer of the company on June 30. The company is in the process of identifying or hiring new person for the vacant position.

Fund Flow

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FII and DII data

Foreign institutional investors (FIIs) have net sold Rs 1,138.05 crore worth of shares, whereas domestic institutional investors (DIIs) remained net buyers, to the tune of Rs 1,378.20 crore worth of shares on June 30, as per provisional data available on the NSE.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Sunil Shankar Matkar
first published: Jun 30, 2022 09:44 pm
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