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Last Updated : Sep 26, 2019 09:08 PM IST | Source: Moneycontrol.com

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

According to the pivot charts, key support level for Nifty is placed at 11,488.07, followed by 11,404.93. If the index starts moving up, key resistance levels to watch out for are 11,632.57 and 11,693.93.


Positive global cues, rupee's 16 paise rise against the US dollar and a drop in global crude oil prices gave a leg-up to investor sentiment, pushing equity benchmarks Sensex and Nifty over a percent higher on September 26.

Nifty ended September series with a gain of nearly 6 percent, forming a bullish candle after forming red candles in the last three consecutive expiries, which indicates that bulls are trying to take charge from the lower end.

Investor sentiment was boosted by positive comments from China on a trade deal with the United States. As per Reuters, the Chinese commerce ministry said Beijing is in close communication with Washington and is preparing to make progress at trade talks in October.

Close

The Sensex index closed 396 points, or 1.03 percent, higher at 38,989.74, with 23 stocks in the green and 7 in the red.

The Nifty index logged a gain of 131 points, or 1.15 percent, settling at 11,571.20, with 41 stocks up and 9 down.

Analysts are positive on the market and suggest to use the dips to make fresh bets.

"We reiterate our bullish view on the Nifty and advice continuing with 'buy on dips' approach. Nifty has the potential to test 11,700-11,800 in the near future, so any intermediate dip should be considered as a buying opportunity. We still see limited participation so suggest caution while choosing stocks," said Ajit Mishra, Vice President- Research at Religare Broking.

Nifty formed a bullish candle after forming red candles in the last three consecutive expiries, which indicates that bulls are trying to take charge from the lower end.

"For the coming expiry, highest open interest (OI) concentration is placed at 11,000 PE, followed by 11,500 PE. On the higher side, the highest OI is placed at 12,000 CE, followed by 11,700 CE. The immediate range for coming series is 11,500-11,700 zone and overall range for October series is 11,000- 12,000 zone as per derivative data," said Rohit Singre, Senior Technical

Analyst at LKP Securities.

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

Key support and resistance level for Nifty

According to the pivot charts, key support level for Nifty is placed at 11,488.07, followed by 11,404.93. If the index starts moving up, key resistance levels to watch out for are 11,632.57 and 11,693.93.

Nifty Bank

Nifty Bank closed with a gain of 1.41 percent at 30,002.60. The important pivot level, which will act as crucial support for the index, is placed at 29513.63, followed by 29024.67. On the upside, key resistance levels are placed at 30604.93 and 31207.27.

Call options data

Maximum call open interest (OI) of 30.98 lakh contracts was seen at the 11,600 strike price. It will act as a crucial resistance level during the October series.

This is followed by 11,700 strike price, which now holds 28.60 lakh contracts in open interest, and 11,800, which has accumulated 21.51 lakh contracts in open interest.

Call writing was seen at the 11,700 strike price, which added 2.83 lakh contracts, followed by 11,800 strike price that added 2.66 lakh contracts and 11,600 strike which added 1.92 lakh contracts.

Call unwinding was witnessed at 11,500 strike price, which shed 19.02 lakh contracts, followed by 11,400 which shed 9.15 lakh contracts.

Image 1

Put options data

Maximum put open interest of 32 lakh contracts was seen at 11,500 strike price, which will act as crucial support in September series.

This is followed by 11,400 strike price, which holds 20 lakh contracts in open interest, and 11,300 strike price, which has accumulated 17.24 lakh contracts in open interest.

Put writing was seen at the 11,500 strike price, which added 10.77 lakh contracts.

Significant put unwinding was seen at 11,400 strike price, which shed 6.64 lakh contracts, followed by 11,100 strike which shed 2.10 lakh contracts and 11,300 strike which shed 1.58 lakh contracts.

Image 2

Stocks with a high delivery percentage

A high delivery percentage suggests that investors are showing interest in these stocks.

High delivery

10 Stocks Saw Long Buildup

Overall, 10 stocks witnessed long buildup on September 26. Based on open interest (OI) future percentage, here are the top 10 stocks in which short buildup was seen.

Image32692019

90 Stocks Witnessed Short-Covering

As per available data, 90 stocks witnessed short-covering. A decrease in open interest, along with an increase in price, mostly indicates a short covering. Here are the top 10 among them, based on lowest OI future percentage.

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6 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 open interest (OI) future percentage, here are the 6 stocks in which short build-up was seen.

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45 Stocks Saw Long Unwinding

Based on lowest OI future percentage, here are the top 10 among them.

Image62692019

Rollovers

Here are the top 10 stocks that saw highest rollover.

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Bulk Deals

Bulk

(For more bulk deals, click here)

Upcoming analyst or board meetings/briefings:

Glittek Granites: The board of will meet on September 27 for general purpose.

GOCL Corporation: The board will meet on September 27 to consider a special dividend.

Gujarat Alkalies and Chemicals: The board will meet on September 27 to consider stock split.

Jump Networks: The board will meet on September 27 to consider issuance of preferential shares.

Scooters India: The board will meet on September 27 for general purpose.

Stocks in news:

DHFL: Sources told CNBC TV18 that the company has presented a proposal which involves lenders taking over 60 percent stake in the company.

ITI: The public sector undertaking launched its cloud services and solutions platform for central and state government entities, banks, public sector undertakings, small and medium enterprises and startups in India.

Ruchira Papers: The company has declared a dividend of Rs 2.25 per share for FY19.

Unitech: The company has got a show-cause notice from Noida Authority.

GE T&D India: Company appointed Sushil Kumar as Chief Financial Officer.

Adani Enterprises: Company incorporated Adani Ahmedabad International Airport Limited for operating, maintaining, developing, designing, constructing, upgrading, modernizing and managing the existing Sardar Vallabhbhai Patel International Airport located at Ahmedabad, Gujarat.

Quess Corp: Company allotted 7,54,437 equity shares by way of private placement on a preferential issue basis to Amazon.com NV Investment Holdings LLC, at Rs 676 per share and received Rs 51 crore.

Stocks that move out of F&O from September 27: Arvind, Birlasoft, Engineers India, Hindustan Zinc, IDBI Bank, Kajaria Ceramics, MCX India, Oracle Financial and Raymond.

Fund flow

Fund flow

FII & DII data

Foreign institutional investors (FIIs) bought shares worth Rs 737.17 crore, while domestic institutional investors (DIIs) also bought shares of worth Rs 339.28 crore in the Indian equity market on September 26, as per provisional data available on the NSE.

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First Published on Sep 26, 2019 08:58 pm
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