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

Rajesh Palviya of Axis Securities expects Nifty to trade in the range of 11,250-10,900 with a positive bias in coming week

August 18, 2019 / 06:58 PM IST
 
 
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The recovery in the afternoon helped the market close moderately higher on August 16 as traders waited for any governmental action to revive the sluggish economy. The sectoral trend was mixed with Nifty Bank and Auto indices gaining 0.7 percent and 1.15 percent, respectively, while pharma, IT and metal closed in the red.

Sensex gained 38.80 points to close at 37,350.33 while the Nifty rose 18.40 points to 11,047.80 and formed Doji pattern on daily charts as opening and closing values were almost equal.

For the week, the index lost 0.56 percent and saw the formation of Hammer candle on the weekly scale, which is bullish reversal candle by nature so there could be some upside in coming sessions.

"The chart pattern suggests that if Nifty crosses and sustains above 11,100, it would witness buying that would lead the index towards 11,200-11,260. However, if index breaks below 10,900, it would witness selling that would take the index towards 10,800-10,750," Rajesh Palviya, Head Technical & Derivative Research at Axis Securities told Moneycontrol.

He said Nifty is trading below 20, 50, 100 and 200-day SMAs indicating negative bias in the short term. He expects the index to trade in the range of 11,250-10,900 with a positive bias in the next week.

Close

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

Key support and resistance level for Nifty

Nifty closed at 11,047.80 on August 16. According to the pivot charts, key support level is placed at 10,958.5, followed by 10,869.2. If the index starts moving upward, key resistance levels to watch out for are 11,102.9 and 11,158.

Nifty Bank

Nifty Bank closed at 28,217.00, up 0.71 percent on August 16. The important pivot level, which will act as crucial support for the index, is placed at 27,874.9, followed by 27,532.8. On the upside, key resistance levels are placed at 28,405.1 and 28,593.2.

Call options data

Maximum Call Open Interest (OI) of 24.85 lakh contracts was seen at the 11,000 strike price. It will act as a crucial resistance level in the August series.

This is followed by 11,500 strike price, which now holds 24.72 lakh contracts in open interest, and 11,200, which has accumulated 19.38 lakh contracts in open interest.

Significant Call writing was seen at the 11,200 strike price, which added 1.7 lakh contracts, followed by 11,400 strike price, which added 0.64 lakh contracts.

Call Unwinding was seen at 11,600 strike price, which shed 0.34 lakh contracts, followed by 11,800 strike, which shed 0.21 lakh contracts and 11,500 strike, which shed 0.19 lakh contracts.

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Put options data

Maximum Put Open Interest of 38.81 lakh contracts was seen at 11,000 strike price, which will act as crucial support in August series.

This is followed by 10,700 strike price, which now holds 25.12 lakh contracts in Open Interest, and 10,800 strike price, which has now accumulated 23.43 lakh contracts in open interest.

Put writing was seen at the 10,500 strike price, which added 2.12 lakh contracts, followed by 11,000 strike, which added 1.9 lakh contracts and 10,700 strike, which added 1.67 lakh contracts.

Put Unwinding was seen at the 11,300 strike price, which shed 0.35 lakh contracts, followed by 10,400 strike that shed 0.28 lakh contracts and 11,400 strike price which shed 0.22 lakh contracts.

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Stocks with a high delivery percentage

A high delivery percentage suggests that investors are accepting delivery of the stock, which means investors are bullish on it.

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58 stocks saw a long buildup

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35 stocks that saw short-covering

A decrease in open interest, along with an increase in price, mostly indicates a short covering.

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44 stocks saw a short build-up

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

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23 stocks saw long unwinding

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Analyst or Board Meetings/Briefings

Swan Energy: AGM to be held on September 11.

Dabur India: Company will participate in the 15th Annual Global Investor Conference on August 19 in Mumbai.

TVS Motor Company: Company will have a conference call with Pramod Amthe, Head of Equity Research of CGS-CIMB Securities (India) on August 19.

Electrosteel Castings: Board meeting is scheduled on August 21 to consider the proposal for raising of funds by issuance of equity shares of the company on a preferential basis.

Tube Investments of India: Company will be meeting with an analyst on August 19.

INEOS Styrolution India: Board meeting is scheduled on August 23 to consider the proposal for voluntarily delisting of the equity shares of the company from the stock exchanges.

Endurance Technologies: Various meetings have been scheduled with institutional investors on August 19, which are organised by Motilal Oswal Financial Services at Mumbai.

Zensar Technologies: Company's officials will attend Motilal Oswal Conference 2019 on August 19 at Mumbai.

Tamil Nadu Newsprint & Papers: Company's officials will be meeting B&K Securities and IDBI Capital Markets & Securities on August 19, and Valcore Capital Advisors, Jet Age Securities and JHP Securities on August 20 through concall.

Spencer Retail: Company intends to attend the ICICI Securities - Bengaluru Investor Conference to be held on August 19 at Bengaluru.

Bajaj Finserv: Company's officials will be meeting with certain institutional investors at the 15th Annual Global Investor Conference organized by Motilal Oswal Financial Services Limited on August 19 at Mumbai.

Advik Laboratories: Board meeting is scheduled to be held on August 23 to consider the sale of manufacturing unit of the company in Gurgaon Haryana.

Emami: Senior Management of the company will be participating in the Motilal Oswal 15th Annual Global Investor Conference in Mumbai to be held on August 20 and 21.

Infosys: Company's officials will attend Bengaluru Investor Conference hosted by ICICI Securities on August 19 and 15th Annual Global Investor Conference hosted by Motilal Oswal on August 20.

Hinduja Ventures: Board meeting is scheduled on August 23 to consider reorganization of media and communications undertaking of IMCL a material subsidiary of HVL into HVL. On completion of the reorganization, HVL will transit from a holding company to an operating media company.

Tata Communications: Company's officials will attend Motilal Oswal conference on August 20.

Supreme Industries: Company's officials will meet analyst/institutional invesrors on August 19.

Indostar Capital Finance: Company's officials will attend Motilal Oswal Investor Conference on August 21.

Stocks in the news

Results on August 19: CG Power and Industrial Solutions, Kwality, Opto Circuits, Dhruv Wellness, Glance Finance, Industrial Investment Trust, IITL Projects, Real Growth Commercial, Trident Tools

Coffee Day Enterprises: Coffee Day Group issued a clarification on debt position, saying debt as on July 31 stood at Rs 4,970 crore excluding Sical Logistics & Magnasoft's at Rs 3,472 crore. Post sale of Global Village Tech Park, Group debt to reduce by Rs 2,400 crore. Group had approved the sale of Global Village Tech Park to Blackstone.

DHFL: Company is not in a position to submit its Q1 financial statements within the stipulated time and will ensure that it will submit Q1 results by September 14.

Kotak Mahindra Bank: Lender cuts 3-month to 3-year MCLR by 10 bps.

Sundaram Clayton: Company announced the shutting down of Chennai unit on August 16-17 due to slowdown across the sector.

Kridhan Infra: Associate company Vijay Nirman Company (VNC) wins orders worth Rs 145 crore for construction in GOA International Airport and Hyderabad International Airport.

NACL Industries: A new facility is being built at the Srikakulam site to meet the expected growth in demand for technicals as well as intermediates. This is also to mitigate input supply risk from China.

Ujjivan Financial Services: Ujjivan Small Finance Bank proposes an initial public offering comprising a fresh issue of around Rs 1,200 crore.

Talwalkars Better Value Fitness Q1: Consolidated loss at Rs 15.6 crore against profit at Rs 1.46 crore, revenue falls to Rs 3.2 crore from Rs 11.98 crore YoY.

Walchandnagar Industries: CARE revised its long term credit rating for the company's bank facilities to BB/Stable from BB+/Stable.

Info Edge: Company has entered into an agreement to invest, through its wholly-owned subsidiary, about Rs 47 crore in Shop Kirana E Trading Private Ltd.

DCM: CRISIL downgraded long term rating to D from BB+/Watch Negative due to delay in repaying the interest and principal obligation on the term loan.

TVS Motor Company: Subsidiary TVS Motor (Singapore) Pte signed definitive agreements to invest $3.2 million in Predictronics Corporation.

Titan Company: Company bought 2.8 percent stake in subsidiary Carat Lane at Rs 328 per share.

Sun Pharma: Company and China Medical System Holdings enter into a licensing agreement in China to develop & commercialise seven generic products.

Himatsingka Seide clarifies: Company is in compliance with norms on wages, bonuses & other statutory requirements and has not received a formal complaint.

NBCC: Baidev Kaur Sokhey assumes the post of Director (Finance).

Mahindra and Mahindra: Company inaugurated its first local automotive assembly plant in Sri Lanka.

Reliance Capital: Reliance Underwater Systems Private Limited has become a subsidiary of the company.

Simplex Infrastructures: CARE revised long term credit rating on bank facilities to BBB/Negative from A-/Negative.

Bosch: VK Viswanathan resigned as Chairman & Non-Executive Director of the company.

Omax Autos: Ghan Shyam Dass resigned as Chief Financial Officer of the company.

MBL Infrastructures: National Company Law Appellate Tribunal (NCLAT) upholds the resolution plan of the company.

Lactose (India): Company entered into an agreement for availing term loan/line of credit facility of Rs 39.5 crore from Aditya Birla Finance Limited.

Danube Industries: Company appointed Sunil H Rajdev as the chief financial officer.

Cupid: Company has received an order worth Rs 14.1 crore from UNFPA to supply Male Condoms to Uganda.

Bulk deals

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(For more bulk deals, click here)

FII & DII data

Foreign Institutional Investors (FIIs) sold shares worth net Rs 1,339.27 crore, while Domestic Institutional Investors (DIIs) purchased net Rs 1,058.28 crore worth of shares in the Indian equity market on August 16, as per provisional data available on the NSE.

Fund Flow Picture

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One stock under F&O ban period on NSE

On August 19, DHFL is under F&O ban.

Securities under the ban period in the F&O segment include companies in whose security has crossed 95 percent of the market-wide position limit.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Sunil Shankar Matkar
first published: Aug 18, 2019 06:58 pm

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