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Last Updated : Jan 23, 2019 09:55 PM IST | Source: Moneycontrol.com

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

Options setup continues to remain positive and buying on dips is advisable with support of 10,775 on closing basis, said Sahaj Agrawal of Kotak Securities.

Sunil Shankar Matkar

Dragged by index heavyweights, the market closed sharply lower on January 23. ITC was the leading contributor to the fall, losing more than 4 percent after its Q3 results missed analysts expectations.

The 30-share BSE Sensex was down 336.17 points at 36,108.47 while the Nifty50 fell 91.30 points to 10,831.50 and formed big bearish candle on the daily scale.

"The short term trend of Nifty is dicey. The overall chart pattern is now showing an indication of downside range breakout in Nifty," Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol.

Close

He said follow-through weakness from here could lead Nifty to test next support of 10,700-10,690 levels in the next few sessions.

Options setup continues to remain positive and buying on dips is advisable with support of 10,775 on closing basis, said Sahaj Agrawal of Kotak Securities.

All sectoral indices, barring metal and pharma, closed in the red. Nifty Bank, Auto, FMCG and IT indices were down 0.5-1.7 percent.

The broader markets outperformed frontliners as the Nifty Midcap and Smallcap indices were down only 0.11 percent and 0.28 percent respectively.

"Investors are taking a cautious approach given their focus on global headwinds and upcoming Lok Sabha polls," said Vinod Nair, Head of Research at Geojit Financial Services.

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

Key support and resistance level for Nifty

The Nifty closed at 10,831.5 on January 23. According to Pivot charts, the key support level is placed at 10,780.73, followed by 10,729.97. If the index starts moving upward, key resistance levels to watch out are 10,913.53 and then 10,995.57.

Nifty Bank

The Nifty Bank index closed at 27,250.8, down 231.50 points on January 23. The important Pivot level, which will act as crucial support for the index, is placed at 27,105.36, followed by 26,959.93. On the upside, key resistance levels are placed at 27,480.46, followed by 27,710.13.

Call Options Data

Maximum Call open interest (OI) of 43.11 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 10,900 strike price, which now holds 35.69 lakh contracts in open interest, and 11,200, which has accumulated 31.1 lakh contracts in open interest.

Meaningful Call writing was seen at 10,900, which added 9.76 lakh contracts, followed by 11,000 strike which added 9.36 lakh contracts and 11,100 strike which added 3.08 lakh contracts.

Call unwinding was seen at 11,300 strike, which shed 0.45 lakh contracts, followed by 10,500 strike which shed 0.32 lakh contracts.

Image223012019

Put Options data

Maximum Put open interest of 30.47 lakh contracts was seen at the 10,800 strike price. This will act as a crucial support level for the January series.

This was followed by the 10,500 strike price, which now holds 31.09 lakh contracts in open interest, and the 10,700 strike price, which has now accumulated 30.47 lakh contracts in open interest.

There was hardly any Put writing seen.

Put unwinding was seen at the strike price of 10,700, which shed 2.94 lakh contracts, followed by 10,900 strike which shed 2.49 lakh contracts and 10,500 strike which shed 2.39 lakh contracts.

Image323012019

FII & DII data

Foreign Institutional Investors (FIIs) sold shares worth Rs 775.82 crore while Domestic Institutional Investors bought Rs 583.77 crore worth of shares in the Indian equity market on January 23, as per provisional data available on the NSE.

Fund Flow Picture

Image923012019

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.

Image423012019

25 stocks saw a long buildup

Image523012019

51 stocks saw short covering

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

Image623012019

74 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.

Image723012019

48 stocks saw long unwinding

Image823012019

Bulk Deals on January 23

NSE

Bhagwati Banquets: Arpit Agarwal HUF sold 1,50,000 shares of the company at Rs 17.85 per share.

Pitti Engineering: Amit Kumar Agarwal bought 1,50,000 shares of the company at Rs 56.16 per share.

Punj Lloyd: IFCI continued to offload shares of the company, selling another 18,13,012 shares at Rs 3.5 per share.

Vivimed Labs: Competent Finlease Private Limited sold 5,00,000 shares of the company at Rs 25.01 per share.

BSE

Aryaman Capital Markets: Sajankumar Rameshwarlal Bajaj sold 1,35,000 shares of the company at Rs 37.15 per share.

Hathway Cable and Datacom: Rajasthan Global Securities Private Limited bought 75,00,000 shares of the company at Rs 31.64 per share and 65,83,185 shares at Rs 31.65 per share while Norges Bank on Account of the Government Pension Fund Global sold 1,25,51,000 shares at Rs 31.65 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Everest Industries: Extra-ordinary General Meeting of the company will be held on February 26.

MAS Financial Services: Board meeting is scheduled on January 30 to consider the unaudited standalone financial results for the quarter and nine months ended on December 2018.

TeamLease Services: Company has arranged a conference call for Q3FY19 results on January 29.

Equitas Holdings: Board meeting is scheduled on February 1 to consider the unaudited standalone financial results for the quarter and nine months ended December 2018. Earnings call of the company with investors and analysts is scheduled to be held on February 4 to discuss the company''s financial performance for Q3FY19.

Nucleus Software Exports: Company will announce its financial results for the third quarter and nine months ended December 2018 on January 28. Management team including the Managing Director, Vishnu R Dusad and Chief Executive Officer, Ravi Pratap Singh will participate in a conference call for investors and analysts.

Eicher Motors: Company's officials will be meeting Nalanda Securities and analysts/investors in a Non-Deal Road Show in London on January 24.

Indiabulls Integrated Services: Board meeting is scheduled on January 29 to consider the unaudited financial results of the company for the quarter and nine months ended December 2018.

Wonderla Holidays: Investors/Analysts conference call to be held on January 28.

Aurobindo Pharma: Board meeting will be held on February 7 to consider the unaudited financial results of the company for the third quarter and nine months period ended December 2018 and the proposal of payment of second interim dividend, if any.

Sarda Energy & Minerals: Board meeting is scheduled on February 2 to consider the un-audited financial and segment wise results - standalone and consolidated - for the 3rd quarter 2018-19.

NIIT Limited: Company would be hosting an analyst and investor call on January 24.

Precision Wires India: Board meeting is scheduled on February 6 to consider the un-audited financial results of the company for the third quarter & nine months ended December 2018.

Aegis Logistics: Board meeting is scheduled on January 31 to consider the unaudited financial results (standalone & consolidated) for the quarter and nine months ended December 2018.

Persistent Systems: Board meeting is scheduled to be held on January 28 to consider a proposal for buyback of the fully paid-up equity shares of the company.

JK Paper: Board meeting is scheduled on February 12 to consider the unaudited financial results of the company for the third quarter ended December 2018.

Whirlpool of India: Board meeting is scheduled to be held on February 4 to consider the unaudited financial results for the quarter and nine months ended on December 2018.

SEL Manufacturing Company: Board meeting is scheduled on February 5 to consider the unaudited financial results for the quarter and nine months period ended December 2018.

Aster DM Healthcare: Board meeting is scheduled on February 13 to consider the unaudited financial results of the company for the quarter ended December 2018.

Laurus Labs: Board meeting is scheduled on January 31 to consider the unaudited financial results of the company for the quarter and nine months period ended December 2018.

Navneet Education: Board meeting is scheduled on February 4 to consider the un-audited financial results of the company for the quarter and nine months ended December 2018.

Selan Exploration Technology: Board meeting is scheduled on January 31 to consider the unaudited financial results of the company for the quarter ended December 2018.

Essar Shipping: Board meeting is scheduled on January 31 to consider the unaudited standalone financial results of the company for the quarter ended December 2018.

Dena Bank: Board meeting is scheduled on January 31 to consider the unaudited (reviewed) financial results of the bank for the quarter / nine month ended on December 2018.

Stocks in news

Results on Thursday: Yes Bank, UltraTech Cement, Biocon, Hatsun Agro Product, Reliance Power, Edelweiss Financial Services, Sharda Cropchem, PNB Housing Finance, Sintex Industries, Colgate Palmolive (India), Bharat Bijlee, ICRA, Punjab Chemicals & Crop Protection, Zee Media Corporation, Sunteck Realty, Pudumjee Paper Products, Quess Corp, PVR, Jyothy Laboratories, Poddar Pigments, Amj Land Holdings, Onward Technologies, VST Industries, Pfizer, MphasiS, Newgen Software Technologies, Sterlite Technologies, NIIT, Kokuyo Camlin, NELCO, Mold-Tek Technologies, Sunflag Iron, Century Enka, KRBL, Jindal Saw, Tijaria Polypipes, Orient Green Power Company, Hexa Tradex, Supreme Industries, Kamdhenu

Bharti Infratel Q3: Profit rises to Rs 648.4 crore versus Rs 599.8 crore; revenue dips to Rs 3,640.2 crore versus Rs 3,668.3 crore QoQ.

MEP Infrastructure: NHAI has given January 21 as appointed date for the project of Construction of Eight Laning of existing Four Lane Vadape to Thane in Maharashtra to subsidiary MEP Longjian VTR Private Limited.

Tejas Networks Q3: Profit rises to Rs 32.84 crore versus Rs 30.14 crore; revenue falls to Rs 184.33 crore versus Rs 229.87 crore YoY.

Apollo Micro Systems: Company has bagged a supply order from Bharat Dynamics worth Rs 12.99 crore.

Reliance Communications Q3: Consolidated loss at Rs 238 crore versus profit Rs 1,141 crore; revenue rises to Rs 1,070 crore versus Rs 977 crore QoQ.

Pidilite Industries Q3: Consolidated profit falls to Rs 219.5 crore versus Rs 239 crore; revenue jumps to Rs 1,848.3 crore versus Rs 1,542.9 crore YoY.

United Spirits Q3: Profit jumps to Rs 192.4 crore versus Rs 134.7 crore; revenue rises to Rs 7,763.6 crore versus Rs 7,137.3 crore YoY.

IDBI Bank: After significant capital infusion by LIC in IDBI Bank, Moody's upgraded ratings in the various instruments of the bank.

Hathway Cable and Datacom Q3: Profit falls to Rs 6.44 crore versus Rs 23.87 crore; revenue declines to Rs 134.85 crore versus Rs 138.65 crore YoY.

Everest Industries: Aditya Vikram Somani has resigned from the position of Chairman of company.

InterGlobe Aviation Q3: Profit dips to Rs 190.9 crore versus Rs 762 crore; revenue increases 28.1 percent to Rs 7,916.2 crore YoY.

Vodafone Idea: Board approved fund raising up to Rs 25,000 crore by way of a rights issue to existing eligible equity shareholders; promoter shareholders (Vodafone Group and Aditya Birla Group) intend to contribute up to Rs 11,000 crore and up to Rs 7,250 crore respectively as part of such rights issue.

Infosys: Company partners with HPE to accelerate enterprise digital transformation

Ujjivan Financial Services Q3: Profit rises to Rs 45.2 crore versus Rs 29.3 crore; net interest income jumps 30.2 percent to Rs 255 crore YoY.

Tanla Solutions Q3: Profit increases to Rs 9.97 crore versus Rs 8.4 crore; revenue rises to Rs 281.77 crore versus Rs 218.4 crore QoQ.

Navin Fluorine International Q3: Profit falls to Rs 38.78 crore versus Rs 47.7 crore; revenue rises to Rs 226 crore versus Rs 221.5 crore YoY.

Dil: Company's subsidiary Fermenta Biotech signed a Lease Deed with Gujarat Industrial Development Corporation (GIDC) for plot T-33 + T-34 in Sayakha Industrial Estate, Gujarat for the purpose of business operations.

Parsvnath Developers: CRISIL has withdrawn its long term rating D for bank loan facilities of Rs 175.44 crore; and reaffirmed long term rating at D for bank loan facilities of Rs 74.56 crore.

Bharat Financial Inclusion: Company assigned a pool of receivables of an aggregate value of Rs 832.3 crore to one of the largest public sector banks on a direct assignment basis. With this transaction, the company has completed direct assignment transactions worth Rs 4,697.21 crore in FY19.

Shree Digvijay Cement Company Q3: Loss at Rs 0.36 crore versus profit Rs 3.55 crore; revenue rises to Rs 112 crore versus Rs 99.4 crore YoY.

Everest Industries Q3: Profit rises to Rs 11.45 crore versus Rs 9.43 crore; revenue increases to Rs 307.3 crore versus Rs 291.21 crore YoY.

Blue Dart Express: Board appointed Balfour Manuel, Head - B2B as Chief Executive Officer (CEO) and Key Managerial Personnel of the company.

Sintex Plastics Technology Q3: Profit falls to Rs 26.12 crore versus Rs 51.84 crore; revenue declines to Rs 1,110.35 crore versus Rs 1,332.7 crore YoY.

JM Financial Q3: Profit increases to Rs 221.09 crore versus Rs 219.3 crore; revenue rises to Rs 898.3 crore versus Rs 789.5 crore YoY.

3 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 24, Jain Irrigation Systems, Reliance Capital and Jet Airways are present in this list.

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First Published on Jan 23, 2019 08:42 pm
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