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Last Updated : Nov 13, 2019 09:10 PM IST | Source: Moneycontrol.com

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

According to the pivot charts, key support level for Nifty is placed at 11,793.53, followed by 11,746.57.

Despite strong support from select heavyweights such as Reliance Industries and Tata Consultancy Services, the benchmark indices slipped on the back of weak global cues and selling pressure in the banking stocks.

Weak economic data, muted global cues, and fall in the currency were the major cues which led to a sharp fall in Indian markets, suggest experts. The rupee nosedived 62 paise to hit an over two-month low of 72.09 to the US dollar on November 13.

Driven by higher food prices, India's retail inflation surged to 4.62 percent in October, breaching Reserve Bank of India's target level of 4 percent, latest price data released by the Central Statistics Office (CSO) on November 13 showed.

Close

"On the technical front, Nifty decisively breached its ascending trendline, which was in progress from the lows of 10,690 registered on September 20. Hence, Nifty remains vulnerable to more downsides unless it closes above 11,950 levels," said Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory.

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

Key support and resistance level for Nifty

According to the pivot charts, key support level for Nifty is placed at 11,793.53, followed by 11,746.57. If the index starts moving up, key resistance levels to watch out for are 11,917.13 and 11,993.77.

Nifty Bank

Nifty Bank closed with a loss of 1.84 percent at 30,541.55. The important pivot level, which will act as crucial support for the index, is placed at 30,286.97, followed by 30,032.33. On the upside, key resistance levels are placed at 30,997.37 and 31,453.13.

Call options data

Maximum call open interest (OI) of 21.41 lakh contracts was seen at the 12,000 strike price. It will act as a crucial resistance level in November series.

This is followed by 11,800 strike price, which holds 15.12 lakh contracts in open interest, and 12,300, which has accumulated 13.99 lakh contracts in open interest.

Significant call writing was seen at the 11,900 strike price, which added 2.04 lakh contracts, followed by 12,000 strike price that added 1.49 lakh contracts and 12,200 strike which added 1.40 lakh contracts.

Minor call unwinding was witnessed at 11,500 strike price, which shed 24,075 contracts, followed by 11,400 which shed 5,775 contracts.

Image 1

Put options data

Maximum put open interest of 20.45 lakh contracts was seen at 11,600 strike price, which will act as crucial support in November series.

This is followed by 11,500 strike price, which holds 18.19 lakh contracts in open interest, and 11,800 strike price, which has accumulated 16.12 lakh contracts in open interest.

Put writing was seen at the 12,200 strike price, which added 1.20 lakh contracts, followed by 11,300 strike, which added 22,500 contracts.

Put unwinding was seen at 12,000 strike price, which shed 73,950 contracts, followed by 11,900 strike which shed 29,025 contracts.

Image 2

Stocks with a high delivery percentage

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

High delivery

12 stocks saw long buildup

Overall, 12 stocks witnessed a long buildup on November 13.

Long buildup

55 stocks saw long unwinding

Based on the lowest open interest (OI) future percentage point, here are the top 15 stocks in which long unwinding was seen.

Long unwinding

75 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 open interest (OI) future percentage, here are the top 15 stocks in which short build-up was seen.

Short buildup

9 stocks witnessed short-covering

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

Short covering

Bulk Deals

Bulk

(For more bulk deals, click here)

Upcoming analyst or board meetings/briefings

The respective boards of Apollo Micro Systems, Apollo Hospitals, APLAB, Bervin Investment & Leasing, Biofil Chemicals and Pharmaceuticals, Blue Coast Hotels and D B Realty will meet on November 14 to discuss and approve their quarterly results.

Stocks in news

Results on November 14: Bharti Airtel, ONGC, Vodafone Idea, SAIL, Grasim Industries, Union Bank of India, Glenmark Pharma, MEP Infrastructure, Balkrishna Industries, MTNL, GVK Power, Suzlon Energy, GMR Infra, Unitech, PFC, Reliance Power, Sadbhav Engineering, Dish TV, Page Industries, Prabhat Dairy, Godfrey Phillips, Dilip Buildcon, HCC, Apollo Hospitals Enterprise, Reliance Infrastructure, MOIL, IDFC, Future Retail, Suven Life, NBCC and CESC are among the companies that will announce their September quarter numbers on November 14.

Blue Star Q2: Consolidated net profit rose 94.1 percent at Rs 38 crore versus Rs 19.5 crore, revenue was up 21 percent at Rs 1,249.5 crore versus Rs 1,032.2 crore, YoY.

Coffee Day says there will be a delay in submission of Q1FY20, Q2FY20 & H1FY20 results.

ARSS Infrastructure Projects' JV ARSS-SCPL win work order of Rs 75.42 crore.

Adani Power Q2: Consolidated net profit at Rs 3.9 crore versus Rs 386.9 crore, revenue was down 16.7 percent at Rs 5,915.7 crore versus Rs 7,104.2 crore, YoY.

Bata India Q2: Consolidated net profit up 30.1 percent at Rs 71.3 crore versus Rs 54.9 crore, revenue up 7.3 percent at Rs 721.9 crore versus Rs 673 crore, YoY.

BHEL Q2: BHEL posted a 42 percent jump in consolidated net profit at Rs 120.95 crore in the second quarter ended September 30.

Cadila Healthcare Q2: Consolidated net profit down 74.3 percent at Rs 107 crore versus Rs 417.5 crore, revenue up 13.7 percent at Rs 3,366.6 crore versus Rs 2,961.2 crore, YoY.

ITC entered into share subscription agreement and shareholders' agreement to acquire up to 33.42% of the share capital of Delectable Technologies.

SpiceJet reported a widening of loss to Rs 462.6 crore in the three months ended September.

Cardinal Health partners with TCS to transform its IT operating model.

Pidilite Industries Q2: Net sales at Rs 1,797 crore grew by 3 percent YoY. PAT at Rs 325 crore grew by 41 percent YoY.

Indiabulls Housing Finance said it made timely payment of interest and principal in respect of the secured redeemable non- convertible debentures (NCDs) issued by it.

Greaves Cotton has acquired Ampere Vehicles Private Limited.

FII & DII data

Foreign institutional investors (FIIs) bought shares worth Rs 584.92 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 890.03 crore in the Indian equity market on November 13, as per provisional data available on the NSE.

Fund flow

Fund Flow

Stock under F&O ban on NSE

Just Dial is under F&O ban for November 14. 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: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd)

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First Published on Nov 13, 2019 08:46 pm
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