Moneycontrol
Get App
Last Updated : Jan 16, 2020 09:07 PM IST | Source: Moneycontrol.com

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

Experts are of the view that the December quarter earnings and Budget are the main triggers that will steer the mood of the market in the near-term.

The Indian market benchmarks settled almost flat after oscillating in a range on January 16.

The BSE Sensex closed 60 points, or 0.14 percent, up at 41,932.56, while the Nifty50 settled 12 points, or 0.1 percent, up at 12,355.50. The BSE Midcap and Smallcap indices logged healthy gains of 0.77 percent and 0.78 percent, respectively.

"The main indices are seeing a mild pause after the solid performance in the last one-month. It may wait and analyse the upcoming key companies’ Q3 results. Globally, the completion of the US-China deal and sudden jump in consumer inflation and NPAs in India are impacting the main indices. But the broader market is still very solid on expectations of re-rate in valuation supported by revamping in earnings growth," said Vinod Nair, Head of Research, Geojit Financial Services.

Close

Experts are of the view that the December quarter earnings and Budget are the main triggers that will steer the mood of the market in the near-term.

"We are seeing rotational buying on the sectoral front which is helping the index to inch gradually higher. However, the actual gains are in the broader markets where we have seen a noticeable recovery in the last two months or so. We believe domestic factors such as earnings and expectations from Budget will continue to dictate the market trend in the near future," said Ajit Mishra, VP - Research, Religare Broking.

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

Key support and resistance level for Nifty

According to the pivot charts, the key support level for Nifty is placed at 12,317.87, followed by 12,280.23. If the index moves up, key resistance levels to watch out for are 12,391.07 and 12,426.63.

Nifty Bank

Nifty Bank closed 0.09 percent up at 31,853.90. The important pivot level, which will act as crucial support for the index, is placed at 31,701.24, followed by 31,548.57. On the upside, key resistance levels are placed at 31,997.74 and 32,141.57.

Call options data

Maximum call open interest (OI) of 30.46 lakh contracts was seen at 12,500 strike price. It will act as a crucial resistance level in the January series.

This is followed by 12,400 strike price, which holds 19.56 lakh contracts in open interest, and 12,300, which has accumulated 15.69 lakh contracts in open interest.

Significant call writing was seen at the 12,500 strike price, which added 2.73 lakh contracts, followed by 12,400 strike price that added 1.03 lakh contracts.

Call unwinding was witnessed at 12,600 strike price, which shed 56,475 contracts, followed by 12,100 which shed 23,250 contracts.

Image 1

Put options data

Maximum put open interest of 42.04 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the January series.

This is followed by 12,200 strike price, which holds 26.38 lakh contracts in open interest, and 11,800 strike price, which has accumulated 19.38 lakh contracts in open interest.

Put writing was seen at the 12,400 strike price, which added 2.13 lakh contracts. Put unwinding was seen at 12,100 strike price, which shed 2.69 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

67 stocks saw long build-up

Based on open interest (OI) future percentage, here are the top 10 stocks in which long build-up was seen.

Long buildup

3 stocks saw long unwinding

Long unwinding

71 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 top 10 stocks in which short build-up was seen.

Short buildup

4 stocks witnessed short-covering

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

Short covering

Bulk deals

Bulk deals

(For more bulk deals, click here)

Upcoming analyst or board meetings/briefings

Nilkanth Engineering: The board of the company will meet on January 17 for general purposes.

Radhe Developers: The board will meet on January 17 to consider and approve quarterly results.

Investment & Precision Castings: The board will meet on January 17 to consider and approve quarterly results.

Stocks in news

Results: Reliance Industries, Tata Consultancy Services, Blue Dart Express, HCL Technologies, ICICI Lombard General Insurance Company, L&T Finance Holdings, L&T Technology Services, Aarnav Fashions, AMAL, Avantel, Banaras Beads, Investment & Precision Castings, QGO Finance, Radhe Developers and Trinity League India are among the companies that will release their December quarter earnings on January 17.

Bharti Airtel, Vodafone Idea: Supreme Court dismissed AGR review petitions filed by telecom firms.

South Indian Bank: Q3 profit grew 8 percent to Rs 90.5 crore, NII rose 15.8 percent to Rs 601.8 crore YoY; gross NPA up 4bps QoQ.

Hathway Cable: Q3 profit at Rs 68.2 cr versus a loss of Rs 55.8 crore, revenue rose 12.3 percent to Rs 450.8 crore YoY.

Cyient: Q3 profit jumped 10.4 percent to Rs 107.6 crore, revenue fell 4.6 percent to Rs 1,105.9 crore QoQ.

Wipro: Wipro Ventures announced $150 million Fund-II to invest in emerging digital enterprise software leaders.

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 395.24 crore, while domestic institutional investors (DIIs) also sold shares of worth Rs 184.65 crore in the Indian equity market on January 16, provisional data available on the NSE showed.

Fund flow

Fund Flow

Stock under F&O ban on NSE

Yes Bank is under the F&O ban for January 17. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jan 16, 2020 08:09 pm
Sections
Follow us on
Available On