Moneycontrol
Last Updated : Mar 14, 2019 09:54 PM IST | Source: Moneycontrol.com

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

Nagaraj Shetti of HDFC Securities said still there is no convincing indication of any downward reversal pattern at the highs.

Sunil Shankar Matkar

The market opened positive, but remained rangebound for the entire session and closed on a flat note on March 14 after rising for previous three straight sessions.

The BSE Sensex was up 2.72 points to close at 37,754.89 while the Nifty50 rose 1.60 points to 11,343.30 and formed bearish candle on the daily charts as closing price is higher than opening.

Failing to breakout critical resistance placed around 11,370 led to day long consolidation. The market is expected to remain in a consolidative phase for coming session also due to lack of trigger, experts said, adding the range could be around 11,300-11,400 levels.

"A small negative candle has been formed, with minor lower shadow at new swing high of 11,383 levels, which technically signals rangebound action in the market at the highs," Nagaraj Shetti - Technical Analyst, HDFC Securities told Moneycontrol.

He said still there is no convincing indication of any downward reversal pattern at the highs.

The near term trend of Nifty is positive, amidst a range movement, and immediate resistance to be watched is at 11,450 levels, he added.

Jaydeb Dey of Stewart & Mackertich Wealth Management said on the Nifty hourly chart; RSI retraced back from overbought zone, however, ADX is

trending higher above twenty, suggesting intraday retracement may again find buyers on dips around supports placed around 11,300 and 11,260.

We have collated top 10 data points to help you spot profitable trades:

Key support and resistance level for Nifty

The Nifty closed at 11,343.25 on March 14. According to Pivot charts, the key support level is placed at 11,310.17, followed by 11,277.13. If the index starts moving upward, key resistance levels to watch out are 11,379.87 and 11,416.53.

Nifty Bank

The Nifty Bank index closed at 28,923.10, up 38.80 points on March 14. The important Pivot level, which will act as crucial support for the index, is placed at 28,805.17, followed by 28,687.23. On the upside, key resistance levels are placed at 29,055.67, followed by 29,188.23.

Call Options Data

Maximum Call open interest (OI) of 26.46 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for the March series.

This was followed by the 11,400 strike price, which now holds 24.56 lakh contracts in open interest, and 11,300, which has accumulated 18.90 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 11,600, which added 2.49 lakh contracts, followed by 11,400 strike, which added 1.77 lakh contracts, and 11,500 strike, which added 1.43 lakh contracts.

Call unwinding was seen at the strike price of 11,000 that shed 0.97 lakh contracts, followed by 11,200 strike that shed 0.8 lakh contracts and 11,300 strike which shed 0.67 lakh contracts.

Image714032019

Put Options Data

Maximum Put open interest of 39.87 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for the March series.

This was followed by the 11,200 strike price, which now holds 27.86 lakh contracts in open interest, and the 10,800 strike price, which has now accumulated 24.61 lakh contracts in open interest.

Put writing was seen at the strike price of 11,300, which added 8.53 lakh contracts, followed by 11,200 strike that added 3.89 lakh contracts and 11,100 strike that added 2.11 lakh contracts.

There was hardly any Put unwinding seen.

Image814032019

FII & DII data

Foreign Institutional Investors (FIIs) bought shares worth Rs 1,482.99 crore while Domestic Institutional Investors sold Rs 817.77 crore worth of shares in the Indian equity market on March 14, as per provisional data available on the NSE.

Fund flow picture

Image914032019

Stocks with a high delivery percentage

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

Image1014032019

52 stocks saw a long buildup

Image1114032019

45 stocks saw short covering

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

Image1214032019

54 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.

Image1314032019

41 stocks saw long unwinding

Image1414032019

Bulk Deals on March 14

NSE

Jubilant Foodworks: Kotak Mahindra Mutual Fund purchased 8,00,000 shares of the company at Rs 1,312.4 per share and Prudential ICICI Asset Management Company 8,20,000 shares at same price while Jubilant Consumer Private Limited sold 39,59,071 shares at same price.

R M Drip & Sprink: Braja Gopal Pal bought 38,000 shares of the company at Rs 52.27 per share.

Ruchi Soya Industries: Soyumm Marketing Pvt Ltd sold 20,00,000 shares of the company at Rs 7.93 per share.

The Byke Hospitality: Grandeur Peak Emerging Markets Opportunities Fund sold 6,05,000 shares of the company at Rs 34.1 per share.

BSE

Laurus Labs: FIL Capital Management (Mauritius) Limited sold 61,18,806 shares of the company at Rs 351.15 per share while Amansa Holdings Private Limited bought 33,00,000 shares of the company at Rs 351 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

James Warren Tea: Board meeting is scheduled on March 22 to consider the proposal of buyback of equity shares.

Adani Transmission: Board meeting is scheduled on March 20 to consider buy-back of non convertible debentures (NCDs).

Mahindra Lifespace: Board meeting to be held on April 22 to consider the audited financial results of the company for the fourth quarter and financial year to be ended on March 2019.

Gujarat Pipavav Port: Company has investor/analyst meeting with Tata Mutual Fund on March 15.

Ugro Capital: Management of the company will be attending the Valorem Analyst Conference 2019, organized by Valorem Advisors to be held on March 15 in Mumbai.

Escorts: Company's officials will meet analysts/investors/AMC on March 15, 16, 18, 19, 20 and 26.

Eris Lifesciences: Company's officials will interact with Antique Stock Broking Limited and their invitees on March 15.

Igarashi Motors India: Company will be participating in a non-deal roadshow 5th Annual India Auto Conference 2019 being organised by Axis Capital on March 15.

Dr Lal PathLabs: Company's officials will meet Westbridge Capital on March 15 and RBC Investment Management Asia on March 18 in Gurugram.

CCL Products: Meetings with the institutional investors of the company as arranged by Antique Stock Broking are scheduled between March 15 to 19 in Hong Kong and Singapore.

OCL Iron and Steel: Board meeting is scheduled on March 19 to consider issue of equity and convertible/non convertible securities or other equity linked securities along with secured/unsecured loan.

Stocks in news

IDBI Bank: RBI categorized IDBI Bank as a private sector bank for regulatory purposes with effect from January 21, 2019 consequent upon Life Insurance Corporation of India acquiring 51 percent of the total paid up equity share capital of the bank.

Tide Water Oil (India): Board declared 2nd Interim Dividend of 1700 percent (Rs 85) per ordinary share for the year 2018-19.

Tech Mahindra: Board approved the proposal to acquire 100 percent shareholding in K-Vision Co through its wholly owned subsidiary Mahindra Engineering Services (Europe). Enterprise value ofthe deal is $1.5 million.

Emami: SAT passed an order accepting the appeal and quashing the order of the SEBI Adjudicating Officer imposing penalty of Rs 8 lakh on R S Agarwal, Chairman of company.

LGB Forge: R Ramakrishnan resigned as Chief Financial Officer of the company.

CMI: Company has been included as vendor with few prestigious companies (Power Grid projects, Airport Authority of India, Mazgaon Dock Shipbuilders, Jawahar Lal Nehru Port Trust) in the 3rd quarter ending December 2018.

Ranjeet Mechatronics: Company received is a project for supply, installation, testing and commission of various equipments and items for fire fighting and gas flooding & fire suppression system works for the Airport Authority of India (AAI). The project value is Rs 11.56 crore.

Kapashi Commercials: Board recommended bonus issue of equity shares in the ratio of three equity share of Rs 10 each for every two equity share of Rs 10 each held by the shareholders.

Essel Propack: Company redeemed commercial papers with maturity date of March 14, 2019 amounting to Rs 35 crore.

Coal India: Board approved payment of 2nd Interim Dividend for the financial year 2018-19 at Rs 5.85 per share of the face value of Rs 10.

Ujjivan Financial Services: Board declared an interim dividend of 85 paise per share of Rs 10 each.

Essel Propack: Board appointed Ramesh Gupta as Additional Director.

IDBI Bank: ICRA reaffirmed its rating of Upper Tier II and Perpetual bonds to BBB+; whereas the outlook on these instruments has been removed from 'Rating watch with developing implications' and assigned a 'negative' outlook.

Jubilant Foodworks: Delhi High Court stayed the National AntiProfiteering Authority order and the penalty proceedings subject to deposit of an amount of Rs 20 crore in the Central Consumer Welfare Fund within four weeks from the date of the order.

Strides Pharma Science: Bajaj Finance cuts stake in company by 3.49 percent to 1.74 percent - CNBC-TV18.

Jubilant Foodworks: Promoter Jubilant Consumer Private Limited sold pledged shares of 39.59 lakh (representing 3 percent of total paid-up equity).

Poly Medicure: Company completed the 100 percent acquisition by acquiring remaining 18 percent shares in Plan 1 Health s.r.l.

Trinity League India: Company approved to enter into Memorandum of Understanding with '2050.Digital' Limited Liability company, based in Russia, regarding availing of logistical support and technological solution for verification of insurance claim in agriculture sector.

Jindal Stainless: Abhyuday Jindal acquired 70,000 shares of the company.

Ujjivan Financial Services: Board declared an interim dividend of 85 paise per share of Rs 10 each.

HUL: Unilever announced elevation of Sanjiv Mehta, Chairman and Managing Director of the company, as President of Unilever, South Asia and a member of the Unilever Leadership Executive (ULE).

GTPL Hathway: Promoter created a pledge on 5.62 lakh shares.

Chalet Hotels: Promoter Capstan Trading LLP created a pledge on 29.95 lakh shares, Raghukool Estate Development LLP on 33.95 lakh shares, Touchstone Properties & Hotels Pvt Ltd on 1.44 crore shares.

Sun Pharma: Promoter Shanghvi Finance Pvt Ltd created a pledge on 41 lakh shares.

Ramkrishna Forgings: Promoter Riddhi Portfolio Pvt Ltd released a pledge on 30,000 shares.

Six stocks 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 March 15, Adani Enterprises, BEML, IDBI Bank, Jet Airways, Reliance Infrastructure and Reliance Power are present in this list.
First Published on Mar 14, 2019 08:53 pm
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