Moneycontrol
Last Updated : Jan 16, 2019 11:59 PM IST | Source: Moneycontrol.com

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

Sameet Chavan of Angel Broking said Nifty is likely to head towards the next junction of 10,970 first and then to test 11,150.

Sunil Shankar Matkar

The market closed a rangebound session on a flat note on January 16 amid lack of domestic and global cues. Investors are closely monitoring December quarter earnings.

Benchmark indices failed to extend previous day's sharp rally with the 30-share BSE Sensex gaining only 2.96 points to close at 36,321.29 while the Nifty 50 rose 3.50 points to 10,890.30 and formed 'Doji' kind of pattern on the daily scale.

"We can term it as a breather after the confirmation of 'Bullish diamond' pattern. We reiterate that the Nifty is likely to head towards the next junction of 10,970 first and then to test 11,150," Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking told Moneycontrol.

On the flipside, 10,820 followed by 10,777 remain to be strong supports, he said.

"Till the time we see Nifty picking up the momentum again, one can remain focused on individual stocks in order to get better trading opportunities," he advised.

A 'Doji' is formed when the index opens and then closes approximately around the same level. However, it remains volatile throughout the trading day which is indicated by its long shadow on either side. The candle appears like a cross or a plus sign.

"The market direction in the coming days would depend to a large extent on the earnings season that is coming up and also the developments around US government shutdown, Brexit and further monetary actions from China," Joseph Thomas, Head Research at Emkay Wealth Management said.

The broader markets also closed flat while the sectoral trend was mixed. Nifty Bank, IT and Pharma indices gained 0.3 percent while Auto, FMCG and Metal fell 0.2-0.7 percent.

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

Key support and resistance level for Nifty

The Nifty closed at 10,890.30 on January 16. According to Pivot charts, the key support level is placed at 10,868.74, followed by 10,847.17. If the index starts moving upward, key resistance levels to watch out are 10,920.04 and then 10,949.77.

Nifty Bank

The Nifty Bank index closed at 27,483.7, up 82.95 points on January 16. The important Pivot level, which will act as crucial support for the index, is placed at 27,406.26, followed by 27,328.83. On the upside, key resistance levels are placed at 27,557.96, followed by 27,632.23.

Call Options Data

Maximum Call open interest (OI) of 36.44 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the January series.

This was followed by the 11,200 strike price, which now holds 33.62 lakh contracts in open interest, and 11,100, which has accumulated 29.73 lakh contracts in open interest.

Meaningful Call writing was seen at 11,200, which added 1.67 lakh contracts.

Call unwinding was seen at 11,000 strike, which shed 4.1 lakh contracts, followed by 10,900 strike which shed 4.1 lakh contracts, 11,100 strike which shed 2.8 lakh contracts, and 10,800 strike which shed 2.6 lakh contracts.

Image716012019

Put Options data

Maximum Put open interest of 35.89 lakh contracts was seen at the 10,700 strike price. This will act as a crucial support level for the January series.

This was followed by the 10,800 strike price, which now holds 34.93 lakh contracts in open interest, and the 10,600 strike price, which has now accumulated 28.2 lakh contracts in open interest.

Significant Put writing was seen at the strike price of 10,900, which added 2.1 lakh contracts, followed by 10,800 strike which added 0.09 lakh contracts and 11,100 strike which added 0.19 lakh contracts.

Put unwinding was seen at the strike price of 10,700, which shed 4.5 lakh contracts, followed by 10,600 strike which shed 2 lakh contracts and 11,000 strike which shed 0.52 lakh contracts.

Image816012019

FII & DII data

Foreign Institutional Investors (FIIs) sold shares worth Rs 90.1 crore and Domestic Institutional Investors bought Rs 304.27 crore worth of shares in the Indian equity market on January 16, as per provisional data available on the NSE.

Fund Flow Picture

Image916012019

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.

Image216012019

52 stocks saw a long buildup

Image316012019

44 stocks saw short covering

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

Image416012019

63 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.

Image516012019

43 stocks saw long unwinding

Image616012019

Bulk Deals on January 16

TGB Banquets and Hotels: Abhishek Agarwal HUF sold 3,58,000 shares of the company at Rs 20.52 per share on the NSE and 2,40,000 shares at Rs 20.62 per share on the BSE.

LEEL Electricals: IndusInd Bank Client A/C sold 4,30,000 shares of the company at Rs 51.27 per share on the NSE.

Share India Securities: Nainesh Gunvantlal Jain bought 1,80,000 shares of the company at Rs 82.05 per share on the BSE.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Khadim India: Board meeting is scheduled on February 7 to consider the unaudited financial results of the company for the quarter and nine months ended December 2018.

South Indian Bank: A conference call for Investors and Analysts to be held on January 21 in respect of financial results for the quarter ended December 2018.

Honeywell Automation India: Board meeting is scheduled on February 4 to consider the unaudited financial results along with limited review report for the quarter ended December 2018.

Kennametal India: Board meeting is scheduled on January 31 to consider the un-audited financial results of the company for the quarter and half year ended December 2018.

JSW Energy: Board meeting is scheduled on January 30 to consider the unaudited standalone and consolidated financial results of the company for the quarter and nine months ended December 2018.

Cera Sanitaryware: Board meeting is scheduled on January 29 to consider the unaudited financial results for the quarter and nine months ended 31.12.2018.

Mangalore Chemicals & Fertilizers: Board meeting is scheduled on February 6 to consider the unaudited financial results for the quarter and nine months ended December 2018.

Newgen Software Technologies: Company will be conducting earnings conference call on January 24.

Vedanta: Board meeting is scheduled on January 31 to consider the un-audited financial results of the company for the third quarter and nine months ended December 2018.

Kalpataru Power Transmission: Board meeting is scheduled on February 1 to consider the standalone unaudited financial results of the company for the quarter and nine months ended December 2018.

D-Link (India): Board meeting is scheduled on February 12 to consider the un audited financial results for the quarter & nine months ended December 2018.

InterGlobe Aviation: Board meeting is scheduled on January 23 to consider the unaudited standalone financial results of the company for the quarter and nine months ended December 2018.

MCX: Company's officials will be meeting Unifi Capital on January 17.

Coffee Day Enterprises: Board meeting is scheduled on February 7 to consider the standalone & consolidated un-audited financial results of the company for the quarter/nine months ended December 2018 and the consolidated results of its subsidiary, Coffee Day Global Limited.

NHPC: Board meeting is scheduled on January 21 to consider the proposal for raising of Rs 2,000 crore through issuance of debentures/bonds in one or more series/tranches on private placement basis from domestic market and/or to raise term loans from domestic financial institutions/Banks/Inter Corporate Loans in suitable tranches.

Unichem Laboratories: Board meeting is scheduled on February 1 to consider the unaudited financial results for the quarter and nine months ended December 2018.

Subros: Board meeting is scheduled on February 6 to consider the unaudited financial results for the quarter ended December 2018.

Shalby: Board meeting is scheduled on January 28 to consider the unaudited financial results for quarter and nine months ended December 2018.

Tide Water Oil (India): Board meeting is scheduled on February 11 to consider the financial results for the quarter and nine months period ended December 2018 and other business matters.

NIIT: Board meeting is scheduled on January 24 to consider both consolidated and standalone unaudited financial results of the company for the quarter and nine months ended December 2018.

Stocks in news

Results on Thursday: Reliance Industries, Hindustan Unilever, Indo Thai Securities, Cyient (also for share buyback), Rallis India, Federal Bank, Aditya Birla Money, Geojit Financial Services, L&T Technology Services, AU Small Finance Bank, Burnpur Cement, Mastek

Board meeting on Thursday: UCO Bank (for fund raising)

Motilal Oswal Financial Services Q3: Profit at Rs 40.05 crore versus Rs 248.32 crore; revenue at Rs 647.6 crore versus Rs 810.16 crore YoY.

Motilal Oswal Financial Services: Company declared an interim dividend for the FY 2018-19 at the rate of Rs 4 per share.

Jet Airways: Company has been working on various cost cutting measures, debt reduction and funding options including infusion of capital, monetisation of assets including the company’s stake in its loyalty program, in consultation with various key stakeholders. Company, SBI in consultation with the other members of the consortium and the other stakeholders has been working on resolution plan which contemplates various options on the debt-equity mix, proportion of equity infusion by the various stakeholders and the consequent change in the composition of the company’s board of directors.

Mindtree Q3: Profit falls to Rs 191.2 crore versus Rs 206.3 crore; revenue rises to Rs 1,787.2 crore versus Rs 1,755.4 crore QoQ.

Fortis Healthcare: Company completes the acquisition of the entire portfolio of Indian assets of RHT Health Trust (RHT).

IIFL Holdings: India Infoline Finance Limited (IIFL), a material NBFC subsidiary of the company has filed Shelf Prospectus and Tranche I Prospectus for the proposed public issue of non-convertible debentures with the Registrar of Companies, Mumbai.

5paisa Capital Q3: Consolidated loss at Rs 12.67 crore versus loss at Rs 25.3 corre; revenue 21.85 crore versus Rs 19.65 crore YoY.

Astral Poly Technik: CARE assigned AA/Stable rating for long term bank facilities and A1+ for short term bank facilities.

RITES: Company has received a rating of IVR A1+ on short term non fund bank facilities upto an amount of Rs 850 crore from Infomerics Valuation and Rating Pvt. Ltd.

Edelweiss Financial Services: Subsidiary Edelweiss Alternative Asset Advisors Limited (EAAA) closed EISAF II an India dedicated Alternative Investment Strategy Fund, by raising Rs 9,200 crore ($1.3 billion).

Williamson Magor & Company: 50 lakh equity shares of McNally Bharat Engineering Company Limited held by the company have been initiated for release from pledge on 11.01.2019. 43,00,000 equity shares of McNally Bharat Engineering Company Limited pledged by the company on 10.01.2019.

Sagar Cements: Board meeting is scheduled on January 24 to allot 31 lakh convertible warrants on a preferential basis.

2 stocks 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 January 17, Adani Power and Jet Airways is present in this list.
First Published on Jan 16, 2019 08:43 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant