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Last Updated : Aug 15, 2019 07:00 PM IST | Source: Moneycontrol.com

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

According to Sahaj Agrawal of Kotak Securities, Nifty could consolidate in the range of 10,800-11,200 for the remaining August series

Sunil Shankar Matkar

Bulls were back in action on August 14 after a day of steep fall. The benchmark indices recouped more than half of the losses and gained a percent on delayed US tariffs on some Chinese goods, and hopes of government measures to revive the economy.

While the BSE Sensex rallied 353.37 points to 37,311.53, the Nifty50 climbed 103.50 points to 11,029.40 and formed a small bullish candle, which resembles a Bearish Harami kind of formation of daily scale.

"The absence of follow-through weakness on Wednesday could be a relief factor for bulls to make another attempt of upside bounce towards the overhead resistance of 11,120-11,150 levels in the short term," Nagaraj Shetti, Technical Research Analyst, HDFC Securities told Moneycontrol.

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He said a decisive or sustainable move above 11,150 level is expected to bring further strength in the upside momentum of the market.

Immediate support of 10,950 is going to be crucial to maintain positive bias for the short term, he added.

According to Sahaj Agrawal, Head of Derivatives at Kotak Securities, Nifty could consolidate in the range of 10,800-11,200 for the remaining August series.

The broader markets also gained momentum with the Nifty Midcap index rising 1 percent and Smallcap index climbing 0.7 percent. All sectoral indices closed in green except pharma.

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

Key support and resistance level for Nifty

The Nifty closed at 11,029.40 on August 14. According to the pivot charts, key support level is placed at 10,950.6, followed by 10,871.8. If the index starts moving upward, key resistance levels to watch out for are 11,093.2 and 11,157.

Nifty Bank

Nifty Bank closed at 28,019.20, up 290.10 points on August 14. The important pivot level, which will act as crucial support for the index, is placed at 27,794.9, followed by 27,570.6. On the upside, key resistance levels are placed at 28,175.3 and 28,331.4.

Call options data

Maximum Call Open Interest (OI) of 24.92 lakh contracts was seen at the 11,500 strike price. It will act as a crucial resistance level in the August series.

This is followed by 11,000 strike price, which now holds 24.49 lakh contracts in open interest, and 11,200, which has accumulated 17.67 lakh contracts in open interest.

Significant Call Writing was seen at the 11,400 strike price, which added 1.07 lakh contracts, followed by 11,300 strike price, which added 0.22 lakh contracts.

Call Unwinding was seen at 11,000 strike price, which shed 1.17 lakh contracts, followed by 11,200 strike which shed 0.7 lakh contracts and 11,800 strike which shed 0.64 lakh contracts.

Put options data

Maximum Put Open Interest of 36.91 lakh contracts was seen at 11,000 strike price, which will act as crucial support in August series.

This is followed by 10,700 strike price, which now holds 23.44 lakh contracts in Open Interest, and 10,800 strike price, which has now accumulated 21.90 lakh contracts in open interest.

Put Writing was seen at the 11,000 strike price, which added 3.06 lakh contracts, followed by 10,900 strike, which added 2.43 lakh contracts and 10,400 strike, which added 2.04 lakh contracts.

Put Unwinding was seen at the 11,200 strike price, which shed 0.76 lakh contracts, followed by 10,300 strike that shed 0.67 lakh contracts and 11,400 strike price which shed 0.34 lakh contracts.

Stocks with a high delivery percentage

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

53 stocks saw a long buildup

84 stocks that saw short-covering

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

18 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.

8 stocks saw long unwinding

Analyst or Board Meetings/Briefings

Zee Learn: The management will be participating in a conference call post its Q1 FY20 earnings, which is scheduled on August 16.

IIFL Finance: The company will host an earnings conference call on August 19.

Jain Irrigation Systems: The earnings call for Q1 FY2020 results will be held on August 16.

Sunil Healthcare: Annual General Meeting (AGM) to be held on September 27.

Lemon Tree Hotels: Management is scheduled to meet institutional investors on August 19 at the 15th Annual Global Investor Conference of Motilal Oswal.

GMR Infrastructure: The management would be having a conference call on August 16, with investors/analysts to discuss the Q1 FY2020 results.

Repco Home Finance: A conference call with the analysts and investors is scheduled for August 16.

GPT Infraprojects: A conference call is scheduled on August 16 to discuss the financial performance of the company for the quarter ended June 2019.

Stocks in the news

Results on August 16: Talwalkars Better Value Fitness, Ortel Communications

HEG Q1: Consolidated profit falls 68.6 percent to Rs 243.5 crore versus Rs 775.7 crore, revenue dips 48.6 percent to Rs 816.5 crore versus Rs 1,587.4 crore YoY.

IDBI Bank Q1: Loss at Rs 3,800.84 crore against loss at Rs 2,409.89 crore, net interest income falls to Rs 1,457.73 crore versus Rs 1,638.62 crore YoY. Gross NPA rises to 29.12 percent against 27.47 percent and net NPA falls to 8.02 percent versus 10.11 percent QoQ.

Indraprastha Gas Q1: Profit falls 3.2 percent to Rs 218.4 crore versus Rs 225.5 crore, revenue rises 2.5 percent to Rs 1,576.1 crore versus Rs 1,542.7 crore QoQ.

MTNL Q1: Loss at Rs 1,054.6 crore against loss Rs 759.3 crore, revenue falls 15.4 percent to Rs 433.8 crore versus Rs 512.5 crore YoY.

Gayatri Projects Q1: Profit climbs 16.5 percent to Rs 48.1 crore versus Rs 41.3 crore, revenue rises 19.6 percent to Rs 984.1 crore versus Rs 822.8 crore YoY.

Omaxe Q1: Consolidated profit jumps 72.3 percent to Rs 14.9 crore versus Rs 8.65 crore, revenue spikes to Rs 353 crore versus Rs 173.5 crore YoY.

Jay Shree Tea Q1: Loss at Rs 6 crore versus profit of Rs 2.1 crore, revenue rises 7.1 percent to Rs 117.9 crore versus Rs 110.1 crore YoY.

Johnson Controls - Hitachi Air Conditioning India Q1: Profit rises 25.4 percent to Rs 64 crore versus Rs 50.7 crore, revenue climbs 19.9 percent to Rs 951.9 crore versus Rs 794 crore YoY.

Mcleod Russel Q1: Loss at Rs 11.64 crore against loss at Rs 3.88 crore, revenue rises to Rs 232.90 crore versus Rs 260.25 crore YoY.

RPP Infra Projects Q1: Consolidated profit falls to Rs 1.47 crore versus Rs 6.41 crore, revenue increases to Rs 124.82 crore versus Rs 100.35 crore YoY.

McNally Bharat Engineering Q1: Consolidated loss at Rs 32.38 crore versus Rs 116.7 crore, revenue falls to Rs 222 crore versus Rs 511.5 crore YoY.

Titagarh Wagons Q1: Consolidated loss at Rs 40.96 crore versus Rs 15.17 crore, revenue jumps to Rs 483.75 crore versus Rs 281.48 crore YoY.

Reliance Capital Q1: Consolidated profit at Rs 1,233 crore versus Rs 272 crore, revenue rises to Rs 6,069 crore versus Rs 4,619 crore YoY.

Zee Learn Q1: Consolidated profit rises to Rs 24.73 crore versus Rs 21.65 crore, revenue jumps to Rs 154.75 crore versus Rs 113.13 crore YoY.

IIFL Securities Q1: Profit jumps to Rs 125.37 crore versus Rs 51.96 crore (on exceptional gain, higher other income), revenue falls to Rs 164.12 crore versus Rs 205.91 crore YoY.

Sintex Plastics Technology Q1: Loss at Rs 642.79 crore against profit at Rs 37.57 crore, revenue falls to Rs 817.24 crore against Rs 1,325.21 crore YoY.

Grasim Q1: Standalone profit plunges 68.6 percent to Rs 201.7 crore versus Rs 642.5 crore, revenue rises 4.4 percent to Rs 5,000.6 crore versus Rs 4,789.2 crore YoY. One-time loss of Rs 290 crore on impairment in value of investment in Payment Bank

Galaxy Surfactants Q1: Profit rises to Rs 52.55 crore versus Rs 45.71 crore, revenue falls to Rs 665 crore versus Rs 716 crore YoY.

Jain Irrigation Systems Q1: Consolidated profit falls to Rs 22.08 crore versus Rs 81.75 crore, revenue dips to Rs 1,891.32 crore versus Rs 2,061.07 crore YoY.

Indiabulls Housing Finance: Moody's downgrades ratings to Ba2 from Ba1, changed the outlook to negative.

Yes Bank: Lender sets issue price at Rs 83.55 per share for QIP

Uniply Industries: Srinivasan Sethuraman resigned from the position of Managing Director and BVM Sarma resigned from the position of Joint Managing Director of the company.

IDFC: Company and IDFC Financial Holding entered into an understanding with Dharmesh Mehta & Others. Acquirers will purchase 100 percent equity stake of IDFC Securities from IDFC Financial Holding.

Central Bank Of India: Lender cut MCLR by 20 bps across tenures effective August 15.

Titagarh Wagons: Consortium formed by the company with its wholly owned subsidiary -- Titagarh Firema SpA (TFA) -- has emerged as the lowest bidder for Pune Metro Rail Project work. The order valued at approximately Rs 1,125 crore is likely to be issued in the next few days.

Tata Motors: Crisil downgraded long term rating to AA-/Negative from AA/Negative, citing weakening of outlook on the business risk profile of JLR.

Bulk deals

(For more bulk deals, click here)

FII & DII data

Foreign Institutional Investors (FIIs) net bought shares worth Rs 1,614.63 crore and Domestic Institutional Investors (DIIs) purchased Rs 1,619.82 crore worth of shares in the Indian equity market on August 14, as per provisional data available on the NSE.

Fund Flow Picture

One stock under F&O ban period on NSE

On August 16, DHFL is under F&O ban.

Securities under the ban period in the F&O segment include companies in whose security has crossed 95 percent of the market-wide position limit.

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First Published on Aug 15, 2019 07:00 pm
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