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Trade setup for Monday: Top 15 things to know before Opening Bell

Rajesh Palviya of Axis Securities feels the next higher levels on the Nifty to be watched is around 15,000-15,100.

April 12, 2021 / 04:44 AM IST

After opening on a flat note, the market remained rangebound with a negative bias for major part of the session and settled with slight losses on April 9, dragged by banks. However, buying in IT, FMCG and Pharma stocks limited downside.

The BSE Sensex was down 154.89 points to close at 49,591.32, while the Nifty50 fell 38.90 points to 14,834.90 and formed a small bearish candle on the daily charts. For the week, the index declined 0.2 percent and witnessed Long Legged Doji kind of pattern on the weekly scale.

"The Nifty index is broadly moving between 14,600 - 15,000, indicating sideways consolidation. Nifty is backing and filling around the 20 DMA (14,762) after recapturing it, indicating that confidence within the bulls should be building up soon," Rajesh Palviya, Head - Technical and Derivative Research at Axis Securities told Moneycontrol.

The next higher levels to be watched is around 15,000-15,100, and any pullback towards 14,700-14,600 should be used as a buying opportunity, he said.

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

Close

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 on the Nifty

According to pivot charts, the key support levels for the Nifty are placed at 14,774.17, followed by 14,713.53. If the index moves up, the key resistance levels to watch out for are 14,906.97 and 14,979.13.

Nifty Bank

The Nifty Bank index declined 334.75 points or 1 percent to close at 32,448.05 on April 9. The important pivot level, which will act as crucial support for the index, is placed at 32,194.63, followed by 31,941.17. On the upside, key resistance levels are placed at 32,836.83 and 33,225.57 levels.

Call option data

Maximum Call open interest of 21.23 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the April series.

This is followed by 15,500 strike, which holds 15.59 lakh contracts, and 14,500 strike, which has accumulated 8.73 lakh contracts.

Call writing was seen at 15,200 strike, which added 1.16 lakh contracts, followed by 14,900 strike which added 1.12 lakh contracts and 15,500 strike which added 90,600 contracts.

Call unwinding was seen at 15,000 strike, which shed 64,275 contracts, followed by 14,700 strike which shed 20,325 contracts and 14,500 strike which shed 9,450 contracts.

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Put option data

Maximum Put open interest of 36.33 lakh contracts was seen at 14,000 strike, which will act as a crucial support level in the April series.

This is followed by 14,500 strike, which holds 31.48 lakh contracts, and 14,800 strike, which has accumulated 14.44 lakh contracts.

Put writing was seen at 14,800 strike, which added 80,025 contracts, followed by 14,300 strike which added 58,725 contracts and 14,900 strike which added 39,375 contracts.

Put unwinding was seen at 14,700 strike, which shed 2.11 lakh contracts, followed by 14,000 strike which shed 80,550 contracts.

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Stocks with a high delivery percentage

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

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51 stocks saw long build-up

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

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31 stocks saw long unwinding

A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.

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53 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 the open interest future percentage, here are the top 10 stocks in which a short build-up was seen.

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22 stocks witnessed short-covering

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

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Bulk deals

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(For more bulk deals, click here)

Results on April 12

Tata Consultancy Services, HDIL, California Software, Cupid Trades & Finance and Lloyds Metals and Energy will announce their quarterly earnings on April 12.

Stocks in News

Infosys: The IT services major will consider the proposal for the buyback of equity shares of the company on April 14, the firm announced in its BSE filing on April 11.

Solara Active Pharma Sciences: The board of directors of the company approved the amalgamation of Aurore Life Science, Empyrean Lifesciences and Hydra Active Pharma Sciences with itself. "The combination creates a pure play API company of scale with strong presence in regulated markets, emerging markets, a broad product portfolio, robust operations infrastructure, excellent R&D capabilities and clear synergies to further accelerate growth for the combined entity," Solara said in its BSE filing.

Barbeque Nation Hospitality: UTI Mutual Fund acquired 1.7752% equity stake in casual dining restaurant chain operator Barbeque Nation via open market operations on April 8, taking its total shareholding in the company to 5.0188%.

Castrol India: Castrol and Ki Mobility Solutions have entered into an exclusive supply arrangement in India wherein Castrol shall supply lubricant products to Ki Mobility's multi-brand workshops.

Balrampur Chini Mills: The company informed exchanges that rating agency ICRA has re-affirmed the credit ratings for both long-term and short-term as 'AA' and 'A1+', respectively. However, the outlook on the long-term rating has been revised from Stable to Positive, it said.

JSW Steel: State-owned Life Insurance Corporation of India held 4.80% equity stake (11,60,57,427 equity shares) in JSW Steel as of March 2021, increasing from 4.02% shareholding held by LIC itself in the name of LIC New Endowment Plus-Growth Fund at the end of December 2020.

Fund flow

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FII and DII data

Foreign institutional investors (FIIs) net sold shares worth Rs 653.51 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 271.26 crore in the Indian equity market on April 9, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

One stock - SAIL - is under the F&O ban for April 12. 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.
Sunil Shankar Matkar
first published: Apr 11, 2021 11:12 pm
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