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

Rajesh Palviya of Axis Securities feels any sustainable move above 14,700 may lift the index towards 14,800-14,900 and this should be used as an exit opportunity for short-term traders.

April 19, 2021 / 08:19 AM IST

The market remained volatile during the entire trading session on April 16 and closed with moderate gains, backed by positive global cues. Auto, FMCG, IT, Metals and Pharma stocks supported the market, whereas banks were under pressure.

The BSE Sensex rose 28.35 points to 48,832.03, while the Nifty50 climbed 36.40 points to 14,617.90 and formed Doji kind of pattern on the daily charts. The index shed 1.5 percent for the week and witnessed Doji kind of pattern formation on the weekly scale as well.

"The Nifty50 failed to surpass the 'Bearish Gap' area in the range of 14,785-14,652, which remains a crucial resistance zone in the near term. In the past couple of sessions, Nifty bounced back from its 100-day SMA (14,282) which remains a crucial support zone to watch for," Rajesh Palviya, Head - Technical and Derivative Research at Axis Securities told Moneycontrol.

"Any sustainable move above 14,700 may cause rally towards 14,800-14,900 and this should be used as an exit opportunity for short-term traders. On the downside, any violation of an intraday support zone of 14,550 levels may signal weakness towards 14,400-14,300 levels," Palviya said.

The broader markets outperformed frontliners as the Nifty Midcap 100 index was up 0.98 percent, and Smallcap 100 index gained 1.13 percent.

Close

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 on the Nifty

According to pivot charts, the key support levels for the Nifty are placed at 14,551.97, followed by 14,486.13. If the index moves up, the key resistance levels to watch out for are 14,690.67 and 14,763.53.

Nifty Bank

The Nifty Bank index fell 135.35 points to close at 31,977.45 on April 16. The important pivot level, which will act as crucial support for the index, is placed at 31,817.8, followed by 31,658.2. On the upside, key resistance levels are placed at 32,231.1 and 32,484.8 levels.

Call option data

Maximum Call open interest of 25.17 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 16.22 lakh contracts, and 14,500 strike, which has accumulated 14.06 lakh contracts.

Call writing was seen at 14,600 strike, which added 2.39 lakh contracts, followed by 15,100 strike which added 2.23 lakh contracts and 15,300 strike which added 1.94 lakh contracts.

Call unwinding was seen at 14,900 strike, which shed 1.3 lakh contracts, followed by 14,500 strike which shed 1.26 lakh contracts and 15,500 strike which shed 1.01 lakh contracts.

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Put option data

Maximum Put open interest of 36.97 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 29.50 lakh contracts, and 14,200 strike, which has accumulated 16.71 lakh contracts.

Put writing was seen at 14,600 strike, which added 4.09 lakh contracts, followed by 14,100 strike which added 1.52 lakh contracts and 13,800 strike which added 1.09 lakh contracts.

Put unwinding was seen at 14,800 strike, which shed 1.74 lakh contracts, followed by 14,000 strike which shed 77,325 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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61 stocks saw long build-up

An increase in open interest, along with a rise 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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16 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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28 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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50 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 19

ACC, ICICI Prudential Life Insurance Company, Bajaj Consumer Care, CRISIL, Agio Paper & Industries, Pratik Panels, Response Informatics, and Sri Chakra Cement will release quarterly numbers on April 19.

Stocks in News

Mindtree: The company reported a 2.8 percent decline in Q4FY21 profit at Rs 317.3 crore against Rs 326.5 crore in Q3FY21. Revenue rose to Rs 2,109.3 crore against Rs 2,023.7 crore in the previous quarter.

Den Networks: The company reported consolidated profit of Rs 36.98 crore in Q4FY21 against Rs 24.65 crore in Q4FY20 while revenue declined to Rs 326.23 crore against Rs 327.8 crore in the year-ago period.

Agro Tech Foods: Rekha Rakesh Jhunjhunwala increased stake in Agro Tech Foods to 3.49% (8,49,559 equity shares) in March quarter 2021, from 3.28% stake (7,99,559 equity shares) in December quarter 2020.

Bharti Airtel: The Government of Ghana will acquire 100% shares of AirtelTigo along with all customers, assets and liabilities. The Government of Ghana, Bharti Airtel and Millicom International Cellular S.A. have executed the definitive agreement for the transfer of AirtelTigo to the Government of Ghana on a going concern basis.

Kolte-Patil Developers: The company announced sales volume of 0.85 million square feet (msf) in Q4FY21 against 0.67 msf in Q4FY20. Realisation per square feet increased sharply to Rs 5,988 from Rs 5,333 in same period.

Fund flow

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FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 437.51 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 657.55 crore in the Indian equity market on April 16, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

Two stocks - SAIL and Sun TV Network - are under the F&O ban for April 19. 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 18, 2021 07:30 pm
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