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

One may expect consolidation movement or minor downward correction in the next session, said Nagaraj Shetti of HDFC Securities.

July 26, 2021 / 01:45 PM IST

The market traded higher after recovery in late morning deals amid volatility and finally settled with moderate gains on July 23, supported by banking & financials, FMCG and IT stocks.

The BSE Sensex rose 138.59 points to 52,975.80, while the Nifty50 gained 32 points to close at 15,856 and formed Doji Cross kind of pattern on the daily charts as the closing was near its opening levels. During the week, the index fell 0.4 percent but formed bullish candle on the weekly scale as the closing was higher than opening levels.

"This daily charts pattern indicate confusion state of mind among participants and one may expect consolidation movement or minor downward correction in the next session," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.

He said the crucial resistance area of previous opening downside gap of July 19 has been filled completely, but the upper gap area of 15,900 has acted as a hurdle and has resulted in minor intraday weakness from the highs. "A sustainable move above 15,900 could only open further upside for the short term," he added.

He feels the short term uptrend of Nifty remains intact.

Close

"There is a possibility of further consolidation or minor downward correction from the highs in early next week. Any weakness could find support at 15,750 levels," he said.

The broader markets ended mixed as the Nifty Midcap 100 index was up 0.17 percent and Smallcap 100 index fell 0.46 percent.

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 15,783, followed by 15,710. If the index moves up, the key resistance levels to watch out for are 15,914.4 and 15,972.8.

Nifty Bank

The Nifty Bank rallied 357.10 points or 1.03 percent to close at 35,034.40 on July 23. The important pivot level, which will act as crucial support for the index, is placed at 34,596.8, followed by 34,159.2. On the upside, key resistance levels are placed at 35,280 and 35,525.6 levels.

Call option data

Maximum Call open interest of 61.20 lakh contracts was seen at 16000 strike, which will act as a crucial resistance level in the July series.

This is followed by 15900 strike, which holds 42 lakh contracts, and 15800 strike, which has accumulated 34.16 lakh contracts.

Call writing was seen at 16000 strike, which added 17.60 lakh contracts, followed by 15900 strike which added 15.27 lakh contracts and 16100 strike which added 11.63 lakh contracts.

Call unwinding was seen at 15700 strike, which shed 2.69 lakh contracts, followed by 15600 strike which shed 1.66 lakh contracts, and 15500 strike which shed 8,800 contracts.

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Put option data

Maximum Put open interest of 58.06 lakh contracts was seen at 15000 strike, which will act as a crucial support level in the July series.

This is followed by 15800 strike, which holds 44.39 lakh contracts, and 15500 strike, which has accumulated 36.65 lakh contracts.

Put writing was seen at 15800 strike, which added 18.84 lakh contracts, followed by 15000 strike which added 14.94 lakh contracts, and 15900 strike which added 8.83 lakh contracts.

Put unwinding was seen at 15400 strike, which shed 28,400 contracts, followed by 16500 strike which shed 11,100 contracts, and 16300 strike which shed 6,200 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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40 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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44 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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42 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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36 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

Apollo Pipes: Ace investor Ashish Rameshchandra Kacholia sold 2,73,723 equity shares in the company at Rs 1,001.89 per share on the NSE, whereas SDM Enterprises acquired 1.6 lakh equity shares in the company at Rs 1,001.1 per share, the bulk deals data showed.

Infibeam Avenues: Investor Ravi Omprakash Agrawal sold 71,76,818 equity shares in the company at Rs 45.96 per share on the NSE, the bulk deals data showed.

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(For more bulk deals, click here)

Results on July 26, and Analysts/Investors Meeting

Results on July 26: Axis Bank, Kotak Mahindra Bank, Larsen & Toubro, Tata Motors, SBI Life Insurance Company, Vedanta, Alembic Pharmaceuticals, Apollo Pipes, Coromandel International, DLF, Glaxosmithkline Pharmaceuticals, Garden Reach Shipbuilders & Engineers, Jindal Stainless, KPIT Technologies, M&M Financial Services, Navin Fluorine International, Phillips Carbon Black, Ramkrishna Forgings, Sun Pharma Advanced Research Company, Vakrangee, and Zensar Technologies will release quarterly earnings on July 26.

SBI Life Insurance Company: The company's officials will meet analysts and investors on July 26 to update financial results.

Ramco Cements: The company's officials will meet analysts and investors on July 27 to discuss financial performance.

The Anup Engineering: The company's officials will meet analysts and investors on July 27 to discuss financial results.

KPIT Technologies: The company's officials will meet analysts and investors on July 27 to discuss financial results.

Welspun India: The company's officials will meet analysts and investors on July 28.

Filatex India: The company's officials will meet analysts and investors on July 28 to discuss Q1FY22 results.

TCI Express: The company's officials will meet analysts and investors on July 28 to discuss un-audited financial results.

KPR Mill: The company's officials will meet analysts and investors on July 29 to discuss Q1FY22 results.

Firstsource Solutions: The company's officials will meet analysts and investors on July 30 to discuss financial performance.

Equitas Small Finance Bank: The company's officials will meet investors and analysts on July 31 to discuss financial performance.

Blue Star: The company's officials will meet analysts and investors on August 5 to discuss financial results.

Stocks in News

ITC: The company reported sharply higher profit at Rs 3,013.5 crore in Q1FY22 against Rs 2,342.7 crore in Q1FY21, revenue jumped to Rs 12,959.2 crore from Rs 9,502 crore YoY.

ICICI Bank: The bank reported sharply higher profit at Rs 4,616 crore in Q1FY22 against Rs 2,599.2 crore in Q1FY21, net interest income rose to Rs 10,935.7 crore from Rs 9,279.8 crore YoY.

GNA Axles: The company reported higher profit at Rs 29.5 crore in Q1FY22 against Rs 27.6 crore in Q1FY21, revenue rose to Rs 329 crore from Rs 310.2 crore YoY.

Reliance Industries: The company reported consolidated profit at Rs 12,273 crore in Q1FY22 against Rs 13,227 crore in Q4FY21, revenue at Rs 1,44,372 crore against Rs 1,54,896 crore QoQ.

Ambuja Cements: The company reported sharply higher standalone profit at Rs 723.08 crore in Q2CY21 against Rs 453.4 crore in Q2CY20, revenue jumped to Rs 3,371.2 crore from Rs 2,176.8 crore YoY.

United Spirits: The company reported profit at Rs 69.1 crore in Q1FY22 against loss of Rs 215.3 crore in Q1FY21, revenue jumped to Rs 1,615.1 crore from Rs 1,030.2 crore YoY.

Fund flow

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FII and DII data

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Stocks under F&O ban on NSE

Five stocks - Cadila Healthcare, Canara Bank, Vodafone Idea, NALCO, and Sun TV Network - are under the F&O ban for July 26. 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.

Disclaimer: MoneyControl is a part of the Network18 group. Network18 is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Sunil Shankar Matkar
first published: Jul 25, 2021 06:36 pm
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