Moneycontrol
Last Updated : Nov 01, 2018 08:21 PM IST | Source: Moneycontrol.com

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

Maximum Call unwinding was seen at the strike price of 10,900, which shed 2.17 lakh contracts, followed by 11,100 which shed 1.42 lakh contracts and 10,200 which shed 1.41 lakh contracts.

Sunil Shankar Matkar

Benchmark indices started off November month on a flat note on Thursday after losing around 5 percent in previous month. It was a roller coaster ride for the market amid mixed quarterly earnings and October sales. The broader markets outperformed frontliners with Nifty Midcap index gaining 0.87 percent.

The Nifty index after opening sharply higher at 10,441.70, which was also the intraday high, traded in a tight range of 70 points throughout the session. It touched a day's low of 10,341.90, before closing 6.10 points lower at 10,380.50.

The index made small bearish candle on daily charts, which resembles a 'Bearish Belt Hold' kind of pattern.

A 'Bearish Belt Hold' pattern is formed when the opening price becomes the highest point of the trading day (intraday high) and the index declines throughout the trading day making up for the large body. The candle will either have a small or no upper shadow and small lower shadow.

Experts expect the consolidation to continue in coming sessions till the Nifty decisively breaks on either side.

"As advance decline ratio remained almost 2 to 1 this mild weakness can still be read as a consolidation move post bigger rally witnessed in Wednesday’s session," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

He said unless it closes above 10,450 levels momentum on the upside shall not pick-up further. According to him, if this rally really has strength and more upsides then on the downside buying should emerge in the zone of 10,277–10,233 levels.

For time being, he advised traders to adopt a neutral stance and look to buy on a fresh breakout above 10,450 levels or on reaching stability after correction.

India VIX fell by 2.90 percent to 19.22 levels.

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

Key support and resistance level for Nifty

The Nifty50 closed at 10,380.50 on Thursday. According to Pivot charts, the key support level is placed at 10,334.3, followed by 10,288.1. If the index starts moving upwards, key resistance levels to watch out are 10,434.3 and then 10,488.1.

Nifty Bank

The Nifty Bank index closed at 25,323.65, up 170.40 points on Thursday. The important Pivot level, which will act as crucial support for the index, is placed at 25,168.2, followed by 25,012.7. On the upside, key resistance levels are placed at 25,440.4, followed by 25,557.1.

Call Options Data

Maximum Call open interest (OI) of 24.67 lakh contracts was seen at the 10,700 strike price. This will act as a crucial resistance level for the November series.

This was followed by the 10,800 strike price, which now holds 22.43 lakh contracts in open interest, and 10,500, which has accumulated 22.01 lakh contracts in open interest.

Maximum Call writing was seen at the strike price of 10,400, which added 8 lakh contracts, followed by 10,700 which added 2.47 lakh contracts and 10,500 which added 2.22 lakh contracts.

Maximum Call unwinding was seen at the strike price of 10,900, which shed 2.17 lakh contracts, followed by 11,100 which shed 1.42 lakh contracts and 10,200 which shed 1.41 lakh contracts.

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Put Options data

Maximum Put open interest of 50.82 lakh contracts was seen at the 10,000 strike price. This will act as a crucial support level for the November series.

This was followed by the 10,200 strike price, which now holds 35.97 lakh contracts in open interest, and the 9,800 strike price, which has now accumulated 24.97 lakh contracts in open interest.

Put writing was seen at the strike price of 10,000, which added 5.9 lakh contracts in open interest, followed by 10,400 which added 5.04 lakh contracts and 10,200 which added 1.95 lakh contracts.

Maximum Put unwinding was seen at the strike price of 10,100, which shed 2.13 lakh contracts in open interest.

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FII & DII data

Foreign institutional investors (FIIs) bought shares worth Rs 348.75 crore while domestic institutional investors sold shares worth Rs 509.17 crore in the Indian equity market on Thursday, as per provisional data available on the NSE.

Fund Flow Picture:

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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.

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68 stocks saw a long buildup

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75 stocks saw short covering

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

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32 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.

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30 stocks saw long unwinding

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Bulk Deals

8K Miles Software Services: IFCI sold 11,05,980 shares of the company at Rs 67.89 per share on the NSE and 3,01,567 shares at Rs 67.22 per share on the BSE.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Dalmia Bharat Sugar: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Lovable Lingerie: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Mercator: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Galaxy Surfactants: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Max Ventures: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

IRCON International: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Bombay Burmah Trading: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Mirc Electronics: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Marksans Pharma: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

NMDC: Board meeting is scheduled on November 12 to consider unaudited financial results for the quarter and half year ended September 2018.

Hathway Cable & Datacom: Board meeting is scheduled on November 12 to consider unaudited financial results for the quarter and half year ended September 2018.

Eicher Motors: Board meeting is scheduled on November 12 to consider unaudited financial results for the quarter and half year ended September 2018.

Universal Cables: Board meeting is scheduled on November 12 to consider unaudited financial results for the quarter and half year ended September 2018.

Dollar Industries: Board meeting is scheduled on November 10 to consider unaudited financial results for the quarter and half year ended September 2018.

Rama Steel Tubes: Board meeting is scheduled on November 10 to consider unaudited financial results for the quarter and half year ended September 2018.

Pokarna: Board meeting is scheduled on November 10 to consider unaudited financial results for the quarter and half year ended September 2018.

Panacea Biotec: Board meeting is scheduled on November 14 to consider unaudited financial results for the quarter and half year ended September 2018.

Vivimed Labs: Board meeting is scheduled on November 14 to consider unaudited financial results for the quarter and half year ended September 2018.

Mcnally Bharat Engineering Company: Board meeting is scheduled on November 14 to consider unaudited financial results for the quarter and half year ended September 2018.

Astral Poly Technik: Board meeting is scheduled on November 14 to consider unaudited financial results for the quarter and half year ended September 2018.

Rollatainers: Board meeting is scheduled on November 14 to consider unaudited financial results for the quarter and half year ended September 2018.

PNC Infratech: Board meeting is scheduled on November 14 to consider unaudited financial results for the quarter and half year ended September 2018.

SREI Infrastructure: Board meeting is scheduled on November 15 to consider unaudited financial results for the quarter and half year ended September 2018.

Jindal Stainless (Hisar): Conference call with investors and analysts is scheduled on November 5.

PG Electroplast: Board meeting is scheduled on November 13 to consider unaudited financial results for the quarter and half year ended September 2018.

Shriram Transport Finance: Company's officials will be meeting Skale Investment on November 2.

Bajaj Corp: Company's officials will be meeting investors/analysts on November 12, 14 and 16, and December 4.

Stocks in news

Results on FridayImage901112018

HPCL Q2: Profit falls 36.5 percent to Rs 1,092 crore versus Rs 1,719.2 crore; revenue rises 0.3 percent to Rs 67,517.9 crore versus Rs 67,311.5 crore; EBITDA drops 26.7 percent to Rs 2,121.8 crore versus Rs 2,893.2 crore; EBITDA margin at 3.14 percent versus 4.30 percent QoQ.

Greaves Cotton Q2: Profit rises 0.3 percent to Rs 49.3 crore versus Rs 49.19 crore; revenue increases 9.4 percent to Rs 495 crore versus Rs 452.4 crore; EBITDA grows 8 percent to Rs 73.2 crore versus Rs 67.8 crore; EBITDA margin contracts to 14.8 percent versus 15 percent YoY.

GSK Consumer Healthcare Q2: Profit jumps 43.1 percent to Rs 275.4 crore versus Rs 192.4 crore; revenue rises 14.4 percent to Rs 1,272 crore versus Rs 1,111.7 crore; EBITDA spikes 36.6 percent to Rs 353.7 crore versus Rs 258.8 crore; EBITDA Margin expands to 27.8 percent versus 23.2 percent YoY.

IIFL Holdings Q2: Consolidated profit rises to Rs 304 crore versus Rs 234.15 crore; revenue increases to Rs 1,832.2 crore versus Rs 1,607.6 crore YoY.

Berger Paints Q2: Consolidated profit climbs to Rs 117.3 crore versus Rs 111.3 crore; revenue jumps to Rs 1,490 crore versus Rs 1,282 crore YoY.

Ador Welding Q2: Profit rises to Rs 6.74 crore versus Rs 5.49 crore; revenue increases to Rs 125.34 crore versus Rs 121.67 crore YoY.

India Glycols Q2: Profit jumps to Rs 43.66 crore versus Rs 14.69 crore; revenue increases to Rs 1,360 crore versus Rs 1,163 crore YoY.

SRF Q2: Consolidated profit climbs to Rs 151.20 crore versus Rs 103 crore; revenue surges to Rs 1,915.4 crore versus Rs 1,286.4 crore YoY.

Gujarat Narmada Valley Fertilizers & Chemicals Q2: Profit spikes to Rs 296.3 crore versus Rs 166.1 crore; revenue increases to Rs 1,641.2 crore versus Rs 1,506.8 crore YoY.

MEP Infrastructure Developers Q2: Consolidated profit falls to Rs 0.65 crore versus Rs 6.55 crore; revenue rises to Rs 575.23 crore versus Rs 409.08 crore YoY.

Adlabs Entertainment Q2: Loss at Rs 55.5 crore versus loss at Rs 56.86 crore; revenue falls to Rs 35.63 crore versus Rs 35.86 crore YoY.

ICRA Q2: Consolidated profit rises to Rs 26.60 crore versus Rs 24.42 crore; revenue increases to Rs 81.07 crore versus Rs 73.77 crore YoY.

Paramount Communications Q2: Profit at Rs 7.4 crore versus loss at Rs 6.4 crore; revenue jumps to Rs 149.4 crore versus Rs 81.11 crore YoY.

Trent Q2: Profit rises to Rs 32.90 crore versus Rs 29 crore; revenue increases to Rs 616 crore versus Rs 522 crore YoY.

HCC Q2: Loss at Rs 1,525 crore versus profit at Rs 11.6 crore; revenue rises to Rs 984 crore versus Rs 971 crore YoY.

Laurus Labs Q2: Consolidated profit falls to Rs 16.21 crore versus Rs 48.75 crore; revenue increases to Rs 588.3 crore versus Rs 538.6 crore YoY.

Advanced Enzyme Technologies Q2: Consolidated profit rises to Rs 24.73 crore versus Rs 21.84 crore; revenue grows to Rs 103.15 crore versus Rs 98.58 crore YoY.

Reliance Home Finance Q2: Profit rises to Rs 75 crore versus Rs 57 crore; revenue increases to Rs 459 crore versus Rs 408 crore YoY.

Aarti Industries Q2: Profit spikes to Rs 122.92 crore versus Rs 78.51 crore; revenue jumps to Rs 1,299.5 crore versus Rs 887.9 crore YoY.

Johnson Controls-Hitachi Air Conditioning India Q2: Profit at Rs 0.49 crore versus loss of Rs 0.17 crore; revenue rises to Rs 346.9 crore versus Rs 317.45 crore YoY.

Amrutanjan Health Care Q2: Profit declines to Rs 6.5 crore versus Rs 9.34 crore; revenue rises to Rs 62 crore versus Rs 55.8 crore YoY.

Parag Milk Foods Q2: Consolidated profit rises to Rs 30.43 crore versus Rs 24.9 crore; revenue increases to Rs 573.5 crore versus Rs 504.5 crore YoY.

Amber Enterprises Q2: Loss at Rs 1.75 crore versus profit at Rs 2.35 crore; revenue falls to Rs 226.3 crore versus Rs 265 crore YoY.

Jindal Drilling Q2: Profit jumps to Rs 11.66 crore versus Rs 2.26 crore; revenue rises to Rs 51.01 crore versus Rs 39.5 crore YoY.

Essel Propack Q2: Consolidated profit increases to Rs 53.4 crore versus Rs 52.5 crore; revenue rises to Rs 683.5 crore versus Rs 639.7 crore YoY.

Morepen Laboratories Q2: Consolidated profit falls to Rs 6.97 crore versus Rs 11.07 crore; revenue rises to Rs 174 crore versus Rs 149.7 crore YoY.

Apar Industries Q2: Consolidated profit rises to Rs 28.63 crore versus Rs 26.2 crore; revenue jumps to Rs 1,884.65 crore versus Rs 1,247.80 crore YoY.

Voltamp Transformers Q2: Profit increases to Rs 15.40 crore versus Rs 15.3 crore; revenue spikes to Rs 189 crore versus Rs 128.9 crore YoY.

Apcotex Industries Q2: Profit rises to Rs 10.10 crore versus Rs 8.35 crore; revenue increases to Rs 160 crore versus Rs 129 crore YoY.

Tanla Solutions Q2: Consolidated profit increases to Rs 8.43 crore versus Rs 7.3 crore; revenue rises to Rs 218.4 crore versus Rs 198.15 crore YoY.

Oriental Carbon & Chemicals Q2: Profit jumps to Rs 17.65 crore versus Rs 12.42 crore; revenue surges to Rs 98.5 crore versus Rs 74.72 crore YoY.

Thomas Cook Q2: Consolidated loss at Rs 8.5 crore versus profit of Rs 15.86 crore; revenue falls to Rs 1,600 crore versus Rs 2,797.3 crore YoY.

Tata Communications Q2: Profit at Rs 2.2 crore versus loss of Rs 58 crore; revenue rises to Rs 4,068.2 crore versus Rs 3,943.8 crore QoQ.

Eicher Motors October auto sales: Royal Enfield sales up 1 percent at 70,451 units versus 69,492 units; exports fall 72 percent to 407 units versus 1,478 units YoY.

HeroMotoCorp October auto sales: Total sales rise to 7.3 lakh units versus 6.3 lakh units YoY.

TCS: Company acquired W12 Studios, an award-winning digital design studio based in London.

Coal India: DIPAM Secretary said offer for sale issue of 3 percent equity yielded Rs 5,266 crore to government.

Inox Leisure: Board approved the issuance of maximum of 64 lakh equity shares to its promoter, Gujarat Fluorochemicals on a preferential issue basis at a price not less than the floor price i.e. Rs 241.71.

DHFL: CARE reaffirmed its rating for company's non-convertible debentures worth Rs 17,655 crore, subordinated debt Rs 2,205 crore and perpetual debt Rs 1,300 crore.

Aarti Industries: Board approved raising of funds of Rs 750 crore by way of issue of equity shares or any other instruments or security.

Essel Propack: Vinay Mokashi has been appointed as Chief Financial Officer and key managerial personnel of the company.

SH Kelkar: Board approved appointment Shrikant Mate as the Group CFO.

Triveni Turbine: Board approved the proposal for buyback of 66,66,666 fully paid equity shares at a price of Rs 150 per share, for an aggregate amount not exceeding Rs 100 crore.

ITD Cementation: Company received complaint regarding alleged irregularities in disposal of scrap. Based on findings some employees found engaged in unauthorised practices. Unauthorised practice of employees resulted loss for company of about Rs 3.6 crore. Company said will take action, including termination of these employees.

Network 18: NCLT approved the scheme of merger by absorption 13 wholly owned subsidiaries with the company.

TV18 Broadcast: NCLT approved the scheme of merger by absorption 4 wholly owned subsidiaries with the company.

Gallantt Ispat: Power purchase agreement between Uttar Pradesh Power Corporation Limited and the company has been executed. Supply of power is scheduled to commence from the first week of November.

Mahindra Logistics: Board approved further investment in Lords Freight (India), subsidiary company by way of purchase of 1,19,610 equity shares of Lords (representing 5.063 percent of equity share capital of Lords) from an existing shareholder of Lords. Company's shareholding in Lords would increase to 83.874 percent.

No stock under ban period on NSE

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

For November 2, not a single stock is present in this list.

Disclaimer: Network 18, which publishes Moneycontrol, is a part of Reliance Industries and owns TV18 Broadcast.
First Published on Nov 1, 2018 08:20 pm
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