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Last Updated : Jun 20, 2019 09:47 PM IST | Source: Moneycontrol.com

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

"Nifty should hold above 11,800 for further upmove," said Jayant Manglik of Religare Broking.

Sunil Shankar Matkar

Driven by buying in banking, auto, metals and pharma stocks, Sensex on June 20 closed 489 points higher to end at 39,602 while Nifty too ended 140.30 points higher at 11,831.80.

"Technically, this pattern signals a sharp comeback of bulls from the lows. The crucial overhead resistance of 11,780-11,800 (as per the concept of change in polarity-previous broken support) has been broken on the upside and Nifty closed above it," Nagaraj Shetti, Technical Research Analyst, HDFC Securities, told Moneycontrol.

He said the short term trend seems to have reversed and a follow-through upmove from here could change the near term sentiment towards positive.

Close

Jayant Manglik, President - Retail Distribution, Religare Broking, said movement on stock specific front is expected to keep traders busy. "Nifty should hold above 11,800 for further upmove. Traders are advised to maintain positive yet cautious approach."

The broader markets also participated in the run with Nifty Midcap and Smallcap indices rising over 1.5 percent each.

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

Key support and resistance level for Nifty

Nifty closed at 11,831.75 on June 20. According to the Pivot charts, the key support level is placed at 11,696.7, followed by 11,561.6. If the index starts moving upward, key resistance levels to watch out are 11905.2 and 11,978.6.

Nifty Bank

Nifty Bank closed at 30,781.10, up 419 points on June 20. The important Pivot level, which will act as crucial support for the index, is placed at 30,393, followed by 30,004.9. On the upside, key resistance levels are placed at 30,996.9, followed by 31,212.7.

Call options data

Maximum Call open interest (OI) of 27.91 lakh contracts was seen at the 12,000 strike price. This will act as a crucial resistance level for the June series.

This is followed by 12,200 strike price, which now holds 19.48 lakh contracts in open interest, and 11,800, which has accumulated 18.68 lakh contracts in open interest.

Significant Call writing was seen at 12,200 strike price that added 8.7 lakh contracts, followed by 12,100 strike price that added 3.97 lakh contracts and 12,000 strike price, which added 2.02 lakh contracts.

Call unwinding was seen at the strike price of 11,700, which shed 3.8 lakh contracts, followed by 11,900 strike that shed 1.06 lakh contracts and 11,600 strike that shed 0.5 lakh contracts.

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Put options data

Maximum Put open interest of 35.81 lakh contracts was seen at 11,700 strike price. This will act as a crucial support level for the June series.

This was followed by 11,500 strike price, which now holds 31.66 lakh contracts in open interest and 11,800 strike price, which has now accumulated 24.88 lakh contracts in open interest.

Put writing was seen at the 11,800 strike price, which added 11.62 lakh contracts, followed by 11,700 strike price that added 10.58 lakh contracts and 11,600 strike that added 5.12 lakh contracts.

Put unwinding was seen at the strike price of 12,100, which shed 0.19 lakh contracts, followed by 12,500 strike price that shed 0.10 lakh contracts.

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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.

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88 stocks saw a long buildup

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96 stocks that saw short covering

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

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12 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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2 stocks saw long unwinding

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Analyst or Board Meet/Briefings

Spectrum Foods: Board meeting is scheduled on June 26 to consider allotment of 10,00,000 equity shares of on preferential basis to promoter and non-promoter of the company.

Meera Industries: Board meeting is scheduled on June 24 to consider allotment of equity shares.

Blue Star: Company's officials will meet Alliance Bernstein on June 21 in Mumbai.

Shakti Pumps: Company is going to participate in investors meet on June 21 at Mumbai.

Hindustan Aeronautics: Board meeting is scheduled on June 28 to consider final dividend for the financial year 2018-19.

Andhra Bank: Board meeting is scheduled on June 25 to consider capital raising plan for FY20.

Stocks in news

NTPC: Company wins 160 MW solar capacities in Solar Energy Corporation Of India's (SECI) Rajasthan Tranche-II, 750MW tender.

APL Apollo Tubes: Crisil reaffirmed its rating on company's long term fund based limits at AA-/Stable and short term at A1+.

Vadilal Industries: Jignesh Shah & Malay Mahadevia Independent Directors of the company tendered their resignation.

AU Small Finance Bank: Board approved to augment the capital by issue of Basel II compliant, Rated, Unlisted,Tier II, unsecured non-convertible redeemable debentures, being classified as subordinated debt in one or more tranches upto Rs 500 crore.

Bombay Dyeing & Manufacturing: Vishnu Sundararajan Peruvemba, Chief Financial Officer, has given a notice of resignation from the services of the company.

Wipro: Company launched Pivotal Software Center of Excellence in Dallas, Texas.

GAIL India: Company has fixed July 10 as record date for the purpose of ascertaining the eligibility of shareholders for issuance of bonus shares in the ratio of 1:1.

Surana Telecom: Sandeep Jain resigned as Independent Director on the company.

Eveready Industries: Lenders invoked 1.9 percent promoter pledged stake June 11.

Tata Motors: Moody's cuts senior unsecured instruments rating to Ba3 from Ba2 with outlook negative. Moody’s downgrades JLR’s ratings to B- with outlook negative.

Mindtree: Mindtree appoints L&T's MD & CEO as Non-executive Director; JD Patil, Shankar Raman as Non-executive Directors, and MR Prasanna as Independent Director.

Kewal Kiran: Company declared a first interim dividend of Rs 11 per share on 1,23,25,037 equity shares of Rs 10 each for FY20.

FII & DII data

Foreign Institutional Investors (FIIs) sold shares worth net Rs 438.41 crore but Domestic Institutional Investors (DIIs) bought Rs 1,241.23 crore worth of shares in the Indian equity market on June 20, as per provisional data available on the NSE.

Bulk deals

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(For more bulk deals, Click Here)

Fund flow picture

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Four stocks under F&O ban period on NSE

For June 21, IDBI Bank, Jain Irrigation Systems, Reliance Capital and Reliance Infrastructure are under the F&O ban period.

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.

Out of F&O Ban: DHFL, Jet Airways and PC Jeweller

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First Published on Jun 20, 2019 08:29 pm
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