Moneycontrol
Last Updated : Nov 01, 2018 06:09 PM IST | Source: Moneycontrol.com

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

Maximum Call writing was seen at the strike price of 10,900, which added 3.67 lakh contracts, followed by 11,100 which added 1.97 lakh contracts and 10,800 which added 1.72 lakh contracts.

Sunil Shankar Matkar

After initial volatility, the Nifty50 staged a smart comeback in late morning deals and extended rally to move near 10,400 levels at closing on Wednesday. Strong global cues, and buying in technology, banking & financials and FMCG stocks boosted sentiment.

The index almost recovered all the losses made in the previous week and formed a bullish candle on daily scale.

The Nifty after opening marginally higher at 10,209.55 immediately dropped to hit an intraday low of 10,105.10, but managed to recover nearly 300 points from that low point and surpassed immediate hurdle of 10,280 zones to hit a day's high of 10,396. The index closed 188.20 points higher at 10,386.60.

"The Nifty, today, witnessed sharp swings in both the directions. The bears occupied the driving seat in the beginning; however the bulls took the control later on. Consequently the Nifty formed a large bullish bar at the end of the day," Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas told Moneycontrol.

He said the hourly chart shows that the index formed an inverted H&S pattern & broke out on the upside, and the benchmark index also achieved the conservative pattern target on the upside.

According to him, the larger picture shows that the volatility can continue going ahead & it can result into a wedge pattern formation. "The recent bounce back seems to be a part of the unfolding pattern. Hence the bounce is unlikely to develop into a larger structure on the upside."

On the higher side, he said 10,440 shall be the key hurdle where the bears can look to come back. Overall, the Nifty is expected to test the crucial support zone of 10,000-9,952 in the short term, he feels.

India VIX fell down by 2.81 percent to 19.92 levels.

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

Key support and resistance level for Nifty

The Nifty50 closed at 10,386.60 on Wednesday. According to Pivot charts, the key support level is placed at 10,195.8, followed by 10,005. If the index starts moving upwards, key resistance levels to watch out are 10,486.7 and then 10,586.8.

Nifty Bank

The Nifty Bank index closed at 25,153.25, up 345.50 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,720.56, followed by 24,287.93. On the upside, key resistance levels are placed at 25,393.56, followed by 25,633.93.

Call Options Data

Maximum Call open interest (OI) of 22.19 lakh contracts was seen at the 10,700 strike price. This will act as a crucial resistance level for the November series.

This was followed by the 11,000 strike price, which now holds 21.44 lakh contracts in open interest, and 10,800, which has accumulated 20.77 lakh contracts in open interest.

Maximum Call writing was seen at the strike price of 10,900, which added 3.67 lakh contracts, followed by 11,100 which added 1.97 lakh contracts and 10,800 which added 1.72 lakh contracts.

Maximum Call unwinding was seen at the strike price of 10,300, which shed 1.88 lakh contracts, followed by 10,200 which shed 1.69 lakh contracts and 10,400 which shed 1 lakh contracts.

Image431102018

Put Options data

Maximum Put open interest of 44.92 lakh contracts was seen at the 10,000 strike price. This will act as a crucial support level for the November series.

This was followed by the 10,200 strike price, which now holds 34.02 lakh contracts in open interest, and the 9,800 strike price, which has now accumulated 25.16 lakh contracts in open interest.

Put writing was seen at the strike price of 10,300, which added 3.1 lakh contracts in open interest, followed by 10,400 which added 2.82 lakh contracts and 10,200 which added 2.68 lakh contracts.

Maximum Put unwinding was seen at the strike price of 10,500, which shed 1.3 lakh contracts in open interest.

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FII & DII data

Foreign institutional investors (FIIs) sold shares worth Rs 193.65 crore while domestic institutional investors bought shares worth Rs 1,124.92 crore in the Indian equity market on Wednesday, as per provisional data available on the NSE.

Fund Flow Picture:

Image631102018

Stocks with high delivery percentage

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

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78 stocks saw a long buildup

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86 stocks saw short covering

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

Image931102018

22 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.

Image1031102018

18 stocks saw long unwinding

Image1131102018

Bulk Deals

Marine Electrical: Vora Pravin Pritesh sold 2,12,000 shares of the company at Rs 80.62 per share on the NSE.

Strides Pharma Science: MSD India Fund sold 8 lakh shares of the company at Rs 412.01 per share on the NSE.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Bhansali Engineering Polymers: Company's officials will be meeting Equipoise Investment Fund and 801 AXA Mutual Fund on November 1.

Majestic Research Services and Solutions: Board meeting is scheduled on November 14 to consider financial results of the company for the quarter and half year ended on September 2018.

Cerebra Integrated Technologies: Board meeting is scheduled on November 10 to consider financial results of the company for the quarter and half year ended on September 2018.

Kernex Microsystems: Board meeting is scheduled on November 10 to consider financial results of the company for the quarter and half year ended on September 2018.

Swelect Energy Systems: Board meeting is scheduled on November 12 to consider financial results of the company for the quarter and half year ended on September 2018.

Dredging Corporation: Board meeting is scheduled on November 12 to consider financial results of the company for the quarter and half year ended on September 2018.

Polyplex Corporation: Board meeting is scheduled on November 14 to consider financial results of the company for the quarter and half year ended on September 2018.

Hotel Leelaventure: Board meeting is scheduled on November 12 to consider financial results of the company for the quarter and half year ended on September 2018.

NESCO: Board meeting is scheduled on November 13 to consider financial results of the company for the quarter and half year ended on September 2018.

DHFL: Board meeting is scheduled on November 21 to consider financial results of the company for the quarter and half year ended on September 2018.

MRF: Board meeting is scheduled on November 8 to consider financial results of the company for the quarter and half year ended on September 2018.

Satin Creditcare Network: Board meeting is scheduled on November 14 to consider financial results of the company for the quarter and half year ended on September 2018; and issuance of non-convertible debenture for upto INR equivalent of $30 million through private placement.

Mahindra Holidays: Company's officials will be meeting DHFL Pramerica Mutual Fund on November 2.

TCS: Company's officials will be participating in Morgan Stanley Seventeen Annual Asia Pacific Summit in Singapore on November 28.

Tube Investments: Conference call for analysts and investors is scheduled on November 5.

Can Fin Homes: Analyst/institutional investors meeting is arranged by Investec Capital Services (India) with S K Hota, Managing Director and Atanu Bagchi, CFO of the company on November 1.

City Union Bank: Bank will be participating in a conference call organised by Ambit Capital on November 2.

Bosch: Board meeting is scheduled to be held on November 5 to consider unaudited financial results for the second quarter and half year ended September 2018, and also the proposal for buyback of the equity shares of the company.

Indowind Energy: Board meeting is scheduled to be held on November 8 to consider unaudited financial results for the second quarter and half year ended September 2018, and also the proposal for buyback of the equity shares of the company.

Stocks in news

Results on Thursday: HDFC, Marico, HPCL, DLF, eClerx Services, Johnson Controls, SH Kelkar, Oriental Carbon, MAS Financial Services, Mahindra Logistics, Dishman Carbogen Amcis, Intense Technologies, Advanced Enzyme Technologies, Garware Technical Fibres, Laurus Labs, Adlabs Entertainment, Fairchem Speciality, Reliance Home Finance, Apollo Micro Systems, KIOCL,

Results on Thursday: Marathon Nextgen Realty, Parag Milk Foods, MEP Infrastructure, Ganges Securities, Avadh Sugar, Dhunseri Petrochem, IIFL Holdings, Thomas Cook, Sarla Performance Fibers, Zenith Birla (India), Welspun Investments, Berger Paints, Alkyl Amines Chemicals, Aarti Industries, Maharashtra Seamless, Vimal Oil & Foods, Zuari Agro Chemicals, Zuari Global,

Results on Thursday: Shekhawati Poly-Yarn, Trent, Sundaram Finance, Somany Ceramics, Selan Exploration Technology, Zodiac JRD- MKJ, Cera Sanitaryware, Essel Propack, GlaxoSmithKline Consumer Healthcare, GeeCee Ventures, Hikal, Amrutanjan Health Care, Vesuvius India, Triveni Turbine, Welspun Corp, Next Mediaworks, Orient Green Power Company, Firstsource Solutions, India Glycols,

Results on Thursday: Greaves Cotton, Godrej Properties, Gujarat Narmada Valley Fertilizers, Clariant Chemicals, Elecon Engineering, Tata Communications, Grindwell Norton, Ador Welding, Dwarikesh Sugar, VST Industries, Voltamp Transformers, Morepen Laboratories, Paramount Communications, Huhtamaki PPL, Jindal Drilling, Gujarat Industries Power, Amber Enterprises India,

Results on Thursday: Arvind, Tanla Solutions, Hindustan Construction Company, Apar Industries, Taj GVK Hotels, Ramgopal Polytex, Gujarat Lease Financing, Apcotex Industries, SRF, Lyka Labs, ICRA, Bajaj Electricals, Hinduja Ventures, Century Enka.

L&T Q2: Consolidated profit climbs over 22 percent to Rs 2,230 crore versus Rs 1,820 crore; revenue jumps 21.3 percent to Rs 32,080 crore versus Rs 26,446.8 crore; EBITDA surges 27 percent to Rs 3,770.5 crore versus Rs 2,962.2 crore; margin expands to 11.8 percent versus 11.2 percent YoY.

L&T Guidance: Company expects 10-12 percent growth in order inflow, 12-15 percent in revenue in FY19.

Tata Motors Q2: Consolidated loss at Rs 1,048.8 crore versus profit at Rs 2,482.8 crore; revenue rises 2.5 percent to Rs 72,112 crore versus Rs 70,373.4 crore; EBITDA falls 28 percent to Rs 6,257.6 crore versus Rs 8,692.5 crore and margin contracts to 8.7 percent versus 12.4 percent YoY.

JLR Q2: Revenue down 11 percent to 5,635 million pound YoY, loss at 101 million pound. Cuts capex in FY19 & FY20 by 500 million pound to 4 billion pound.

Vedanta Q2: Consolidated profit plunges 39 percent to Rs 1,900 crore versus Rs 2,915 crore; revenue rises 5.2 percent to Rs 22,705 crore versus Rs 21,590 crore; EBITDA drops 8 percent to Rs 5,208 crore versus Rs 5,670 crore; margin contracts to 22.9 percent versus 26.3 percent YoY.

Canara Bank Q2: Profit rises to Rs 299.5 crore versus Rs 260.18 crore; net interest income increases to Rs 3,281.3 crore versus Rs 2,783.4 crore YoY; gross NPA improves to 10.56 percent against 11.05 percent and net NPA to 6.54 percent against 6.91 percent QoQ.

Adani Power Q2: Consolidated profit jumps 22 percent to Rs 387 crore versus Rs 317 crore; revenue rises 16.6 percent to Rs 7,181.5 crore versus Rs 6,159.1 crore; EBITDA increases 9.7 percent to Rs 2,330.3 crore versus Rs 2,124.8 crore; margin at 32.45 percent versus 34.5 percent YoY.

KEI Industries Q2: Profit rises to Rs 41.4 crore versus Rs 28.5 crore; revenue jumps to Rs 996.8 crore versus Rs 753.8 crore YoY.

Matrimony.com Q2: Consolidated profit falls to Rs 13.35 crore versus Rs 19.16 crore; revenue rises to Rs 87.6 crore versus Rs 83.6 crore YoY.

Narayana Hrudayalaya Q2: Consolidated profit declines to Rs 13.6 crore versus Rs 16.5 crore; revenue increases to Rs 711.3 crore versus Rs 559.2 crore YoY.

Indostar Capital Finance Q2: Consolidated profit slips to Rs 64 crore versus Rs 69.5 crore; revenue jumps to Rs 319.8 crore versus Rs 199.5 crore YoY.

Ganesha Ecosphere Q2: Profit jumps to Rs 13.50 crore versus Rs 7.3 crore; revenue surges to Rs 262.5 crore versus Rs 168.7 crore YoY.

Shreyas Shipping & Logistics Q2: Profit declines to Rs 5.14 crore versus Rs 19.70 crore; revenue rises to Rs 156.43 crore versus Rs 123.5 crore YoY.

Navneet Education Q2: Profit falls to Rs 29 crore versus Rs 126.3 crore; revenue declines to Rs 263.5 crore versus Rs 670 crore YoY.

Minda Corporation Q2: Consolidated profit rises to Rs 44.6 crore versus Rs 42 crore; revenue increases to Rs 773.3 crore versus Rs 655 crore YoY.

Gandhi Special Tubes Q2: Profit increases to Rs 10 crore versus Rs 8.7 crore; revenue rises to Rs 33.6 crore versus Rs 29.8 crore YoY.

United Spirits Q2: Profit jumps to Rs 258.7 crore versus Rs 153.1 crore; revenue spikes to Rs 7,128 crore versus Rs 6,214.6 crore YoY.

Future Lifestyle Fashions Q2: Profit rises to Rs 25.5 crore versus Rs 23.4 crore; revenue jumps to Rs 1,222.4 crore versus Rs 1,021.7 crore YoY.

Kalpataru Power Transmission Q2: Profit surges to Rs 91.4 crore versus Rs 71.5 crore; revenue rises to Rs 1,574 crore versus Rs 1,222.8 crore YoY.

Honeywell Automation Q2: Profit climbs to Rs 97.4 crore versus Rs 73.73 crore; revenue rises to Rs 782.3 crore versus Rs 673.2 crore YoY.

LG Balakrishnan Q2: Profit rises to Rs 28 crore versus Rs 23.66 crore; revenue increases to Rs 427 crore versus Rs 350.7 crore YoY.

Balaji Amines Q2: Profit soars to Rs 31 crore versus Rs 29.2 crore; revenue rises to Rs 216.5 crore versus Rs 201.2 crore YoY.

Schneider Electric Infrastructure Q2: Loss at Rs 27.2 crore versus loss at Rs 10.92 crore; revenue rises to Rs 319 crore versus Rs 269.7 crore YoY.

Castrol India Q2: Profit falls to Rs 150.4 crore versus Rs 178.2 crore; revenue rises to Rs 926.9 crore versus Rs 861.4 crore YoY.

Syndicate Bank Q2: Loss at Rs 1,542.5 crore versus profit of Rs 105.24 crore; net interest income falls to Rs 1,572.3 crore versus Rs 1,649.5 crore YoY; gross NPA at 12.98 percent versus 12.59 percent; net NPA at 6.83 percent versus 6.64 percent QoQ.

Adani Green Energy Q2: Loss at Rs 186.9 crore versus loss of Rs 26.87 crore; revenue jumps to Rs 448.6 crore versus Rs 167.68 crore YoY.

Jagran Prakashan Q2: Profit declines to Rs 44.9 crore versus Rs 72.2 crore; revenue slips to Rs 553.4 crore versus Rs 566.5 crore YoY.

Dhampur Sugar Mills Q2: Profit drops to Rs 28.4 crore versus Rs 36.15 crore; revenue declines to Rs 532.8 crore versus Rs 802 crore YoY.

Blue Dart Express Q2: Profit falls to Rs 21.3 crore versus Rs 41.4 crore; revenue rises to Rs 798 crore versus Rs 703 crore YoY.

Jayaswal Neco Q2: Loss at Rs 86.23 crore versus loss of Rs 70.37 crore; revenue rises to Rs 1,166.5 crore versus Rs 832.44 crore YoY.

HEG Q2: Profit jumps multi-fold to Rs 888.9 crore versus Rs 113.66 crore; revenue surges to Rs 1,794 crore versus Rs 409.5 crore YoY.

Emkay Global Q2: Profit declines to Rs 4.34 crore versus Rs 6.25 crore; revenue rises to Rs 38.3 crore versus Rs 36.15 crore YoY.

Tribhovandas Bhimji Zaveri Q2: Profit rises to Rs 1.7 crore versus Rs 0.8 crore; revenue increases to Rs 346 crore versus Rs 326 crore YoY.

Coal India OFS: Non-retail portion oversubscribed 106 percent; 3.96 crore shares to be available as part of OFS on November 1 for retail investors.

IL&FS Transportation Networks and IL&FS Engineering: IL&FS Group submitted report on progress & the way forward to NCLT. Resolutions can involve capital infusion, divestment & debt recast. Board expects to complete resolution process in stages over next 6-9 months.

Shriram EPC: Company bags an order worth Rs 236 crore from Drinking Water & Sanitation Department, Government of Jharkhand.

JSW Energy: CARE upgraded the ratings on the long term bank facilities of subsidiary Raj WestPower Limited to AA - / Stable from A+ / Stable.

United Bank of India: Board approved raising of equity capital, in one or more tranches, for an amount not exceeding Rs 3,000 crore by way of preferential allotment of equity shares.

Eros International Media: Company in association with Mythri Movie Makers will release the much awaited, mystical thriller 'Savyasachi'.

GHCL: India Ratings & Research assigned company a long term issuer rating of A1+ with outlook stable, for issuance of proposed Non-convertible debenture (NCO) of Rs 300 crore, which shall be utilized for the purpose of refinancing of the existing debt, meeting long term working capital requirements and funding other purpose in the normal course of business of the company.

Motherson Sumi Systems: CRISIL upgraded long term rating of the company to AA+/Stable from AA/Positive and reaffirmed short term rating to A1+.

Eicher Motors: Due to the strike, the loss of production for the month of September and October 2018, is 25,000 motorcycles.

Karnataka Bank: Bank revises its MCLR and reduces interest rates on its retail schemes.

No stock under ban period on NSE

Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

For November 1, not a single stock is present in this list.
First Published on Oct 31, 2018 08:31 pm
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