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

Equity benchmarks -- Sensex and Nifty -- resumed their upward march on July 23, supported by gains in select heavyweights, including Reliance Industries, ICICI Bank, Kotak Mahindra Bank, ITC and State Bank of India (SBI).

The Sensex ended the day 269 points, or 0.71 percent, higher at 38,140.47 and the Nifty closed 83 points, or 0.74 percent, up at 11,215.45.

"Markets are currently riding high on better-than-expected earnings and upbeat global markets. Considering the momentum, Nifty may test 11,350 soon. Traders should opt for hedged trades instead of outrights," Ajit Mishra, VP - Research, Religare Broking, said.

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

Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three- month data and not of the current month only.

Key support and resistance levels for the Nifty

According to pivot charts, the key support level for the Nifty is placed at 11,132.53, followed by 11,049.57. If the index moves up, the key resistance levels to watch out for are 11,269.13 and 11,322.77.

Nifty Bank

The Nifty Bank index ended 0.88 percent higher at 23,083.90 on July 23. The important pivot level, which will act as crucial support for the index, is placed at 22,838.43, followed by 22,592.97. On the upside, key resistance levels are placed at 23,225.83 and 23,367.77.

Call option data

Maximum call OI of 33.73 lakh contracts was seen at 11,500 strike, which will act as crucial resistance in the July series.

This is followed by 11,000, which holds 21.9 lakh contracts, and 11,200 strikes, which has accumulated 19.44 lakh contracts.

Significant call writing was seen at 11,400, which added 5.84 lakh contracts, followed by 11,200 strikes, which added 5.11 lakh contracts.

Call unwinding was seen at 11,100, which shed 46,050 contracts, followed by 11,000 strikes, which shed 34,875 contracts.

Put option data

Maximum put OI of 38.05 lakh contracts was seen at 11,000 strike, which will act as crucial support in the July series.

This is followed by 10,800, which holds nearly 20.26 lakh contracts, and 10,700 strikes, which has accumulated 18.71 lakh contracts.

Significant put writing was seen at 11,000, which added 9.56 lakh contracts, followed by 11,200 strikes, which added 9.41 lakh contracts.

No significant put unwinding was witnessed on July 23.

Stocks with a high delivery percentage

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

63 stocks saw long build-up

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

12 stocks saw long unwinding

26 stocks saw short build-up

An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions. Based on the OI future percentage, here are the top 10 stocks in which short build-up was seen.

38 stocks witnessed short-covering

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

Bulk deals

(For more bulk deals, click here)

Results on July 24

ITC, Asian Paints, Ambuja Cements, JSW Steel, Zee Entertainment Enterprises, Atul, Bharat Road Network, CCL Products, Chennai Petroleum Corporation, Confidence Petroleum India, Coromandel International, Crompton Greaves Consumer Electricals, GHCL, Jay Shree Tea, Sintex Plastics Technology, TCI Express, Texmo Pipes, Welspun India, etc.

Stocks in the news

Can Fin Homes: Board approves raising up to Rs 1,000 crore via equity and Rs 4,000 crore via debt instruments.

Axis Bank and Max Life will make some changes to value creation options with respect to deal.

Bank of Maharashtra: Q1 profit at Rs 101 crore versus Rs 81.1 crore, net interest income (NII) at Rs 1,087.9 crore versus Rs 996.8 crore YoY.

Lupin received tentative nod from the US Food & Drug Administration for Empagliflozin and Linagliptin tablets, which are used to improve glycemic control in adults with Type 2 diabetes.

AU Small Finance Bank: Q1 profit at Rs 201 crore versus Rs 190 crore, revenue at Rs 516 crore versus Rs 396 crore YoY.

Fund flow

FII and DII data

Foreign institutional investors (FIIs) bought shares worth Rs 1,740.5 crore, while domestic institutional investors (DIIs) sold shares worth Rs 931.91 crore in the Indian equity market on July 23, provisional data available on the NSE showed.

Stock under F&O ban on NSEEleven stocks - Adani Enterprises, Bharat Heavy Electricals (BHEL), Glenmark Pharmaceuticals, GMR Infrastructure, Vodafone Idea, Jindal Steel & Power, L&T Finance Holdings, Mahindra & Mahindra Financial Services, National Aluminium Company, Steel Authority of India (SAIL) and Sun TV - are under the F&O ban for July 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.​

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