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Last Updated : Jan 23, 2020 08:47 PM IST | Source: Moneycontrol.com

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

FIIs bought shares worth Rs 1,352.13 crore, while DIIs sold shares worth Rs 984.56 crore on January 23.

After three consecutive days of losses, the Indian market benchmark Sensex settled in the green on January 23, supported by select heavyweights such as Infosys, Larsen & Toubro and ICICI Bank.

Market experts attributed the rebound in the market to the modest fall in crude oil prices and positive Q3 earnings by some bluechip companies, including L&T and Axis Bank.

The BSE Sensex rose 271 points to 41,386 while Nifty 50 closed with gains of 73 points at 12,180.

Close

"Weekly index options expiry, modest fall in crude oil price and a sharp upsurge in Larsen & Toubro stock post the results helped bulls maintain positive sentiment in the market," said Shrikant Chouhan, Senior Vice-President - Equity Technical Research at Kotak Securities.

Chouhan said since Nifty has held the important level of 12,100 on the day of weekly expiry - which is broadly positive - a pullback rally towards 12,230 is expected. A further uptrend may also continue which could lift the index to 12,350 level, he said.

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 12,119.93, followed by 12,059.57. If the index continues moving up, key resistance levels to watch out for are 12,214.83 and 12,249.37.

Nifty Bank

Nifty Bank closed 0.99 percent up at 31,004.05. The important pivot level, which will act as crucial support for the index, is placed at 30,721.2, followed by 30,438.3. On the upside, key resistance levels are placed at 31,187.1 and 31,370.1.

Call options data

Maximum call open interest (OI) of 35.41 lakh contracts was seen at the 12,500 strike price. It will act as a crucial resistance level in the January series.

This is followed by 12,300 strike price, which holds 32.8 lakh contracts in open interest, and 12,200, which has accumulated 31.57 lakh contracts in open interest.

Significant call writing was seen at the 12,700 strike price, which added 3.98 lakh contracts, followed by 12,200 strike price that added 1.45 lakh contracts.

Call unwinding was witnessed at 12,300 strike price, which shed 95,700 contracts.

Image 1

Put options data

Maximum put open interest of 41.37 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 27.57 lakh contracts in open interest, and 12,100 strike price, which has accumulated 22.57 lakh contracts in open interest.

Put writing was seen at the 12,100 strike price, which added 8.17 lakh contracts, followed by 12,000 strike, which added 5.85 lakh contracts.

Put unwinding was seen at 12,500 strike price, which shed 49,125 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 a 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

18 stocks saw long unwinding

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

Long unwinding

13 stocks saw short build-up

An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions.

Short buildup

49 stocks witnessed short-covering

A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on open interest (OI) future percentage, here are the top 10 stocks in which short-covering was seen.

Short covering

Bulk deals

Bulk deals

(For more bulk deals, click here)

Upcoming analyst or board meetings/briefings

Allahabad Bank: The board of the bank will meet on January 24 to consider and approve the preferential issue of shares.

Birla Precision Tech: The board of the company will meet on January 24 to consider and approve the preferential issue of shares among others.

Apollo Micro Systems: The board of the company will meet on January 24 for general purposes.

South Indian Bank: The board of the bank will meet on January 24 for general purposes.

Stampede Capital: The board of the company will meet on January 24 for general purposes.

Wendt (India): The board will meet on January 24 to consider and approve quarterly results and interim dividend.

Stocks in news

Results on January 24: UltraTech Cement, AAVAS Financiers, Agri- Tech (India), Allsec Technologies, Atul, Bank of Baroda, Indian Bank, JSW Steel, Mangalam Drugs And Organics, Oriental Hotels, Prestige Estates Projects and Techindia Nirman are among the companies that will release their December quarter numbers on January 24.

Muthoot Finance: The company will consider & approve fundraising by way of public issue of redeemable NCDs.

GHCL: The company approved buyback of equity shares aggregating to Rs 60 crore.

Cholamandalam Investment: The company has approved the issue of equity shares on a preferential basis to the promoter not exceeding Rs 300 crore.

Nippon Life AMC: The company has sought SEBI's nod for the seventh tranche of CPSE ETF. The company's Q3 PAT jumped 36 percent.

Info Edge (India): The company informed it has set up an alternative investment fund named Info Edge Venture Fund. The objective of the fund is to invest in tech and tech-enabled entities that provide technology to create, market and distribute innovative products and services that benefit consumers at large, said the company.

ITI: The company said it intends to raise about Rs 1,400 crore of which Rs 607 crore shall be utilised for repaying loans.

FII and DII data

Foreign institutional investors (FIIs) bought shares worth Rs 1,352.13 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 984.56 crore in the Indian equity market on January 23, 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 24. 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.
First Published on Jan 23, 2020 08:39 pm
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