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Last Updated : May 22, 2019 04:18 PM IST | Source: Moneycontrol.com

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

Among the sectors, metal index slipped 2 percent followed by auto, infra, pharma, FMCG and bank.

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Benchmark indices ended lower on May 15 in volatile trade. Nifty wiped out all gains made on Tuesday finishing just above 11,150 levels led by a fall in metal stocks.

At close, the Sensex was down 203.65 points at 37,114.88, while Nifty was down 65 points at 11,157. About 982 shares advanced, 1,544 shares declined, and 176 shares were unchanged.

We expect volatility to continue in the backdrop of the US-China trade tension as well as weak domestic cues owing to nervousness surrounding elections. Oil prices and rupee-dollar movement will also be on investors’ radar, said Jayant Manglik, President - Retail Distribution, Religare Broking.

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Yes Bank, Tata Motors, Zee Entertainment, JSW Steel and Gail were the top losers on the Nifty, while gainers were Bajaj Finance, Eicher Motors, UPL, IOC and Indiabulls Housing.

Among the sectors, the metal index slipped 2 percent followed by auto, infra, pharma, FMCG and bank.

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

Key support and resistance level for Nifty

Nifty closed at 11,157 on May 15. According to the Pivot charts, the key support level is placed at 11,100.4, followed by 11,043.8. If the index starts moving upward, key resistance levels to watch out are 11,250.2 and 11,343.4.

Nifty Bank

The Nifty Bank index closed at 28,616.45, down 212.75 points on May 15. The important Pivot level, which will act as crucial support for the index, is placed at 28,453.33, followed by 28,290.27. On the upside, key resistance levels are placed at 28,881.33, followed by 29,146.27.

Call options data

Maximum Call open interest (OI) of 13.44 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for the May series.

This was followed by 11,300 strike price, which now holds 7.80 lakh contracts in open interest, and 11,600, which has accumulated 6.28 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 11,300, which added 1.64 lakh contracts, followed by 11,500 strike price that added 1.37 lakh contracts and 11,200 strike price that added 0.65 lakh contracts.

There was no Call unwinding seen.

call

Put options data

Maximum Put open interest of 28.82 lakh contracts was seen at 11,000 strike price. This will act as a crucial support level for the May series.

This was followed by 11,500 strike price, which now holds 16.67 lakh contracts in open interest and 11,300 strike price, which has now accumulated 10.30 lakh contracts in open interest.

Put writing was seen at the strike price of 11,000 which added 2.53 lakh contracts, followed by 11,300 strike price that added 0.63 lakh contracts.

There was no Put unwinding seen.

put

Bulk Deals

bulk15

FII & DII data

Foreign Institutional Investors (FIIs) sold shares worth Rs 1,142.44 crore while Domestic Institutional Investors (DIIs) bought Rs 671.77 crore worth of shares in the Indian equity market on May 15, as per provisional data available on the NSE.

Fund Flow Picture

fii15

Stocks with a high delivery percentage

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

high rollover

29 stocks saw a long buildup

long buildup

6 stocks saw short covering

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

short covering

131 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.

short buildup

30 stocks saw long unwinding

long unwinding

Stocks in news:

Ramgopal Polytex approved the proposal of voluntary delisting of equity shares of the company from National Stock Exchange of India

SKF India informed the exchange that Board of Directors at its meeting held on May 15, 2019, recommended Final Dividend of 12 per equity share.

Tata Chemicals' announced the merger of its consumer products business with Tata Global Beverages

Analyst or Board Meet/Briefings

Atul Auto: Board meeting is scheduled on May 25 to consider and approve the financial results for the period ended March 31, 2019, and dividend

Noida Toll Bridge: Board meeting will be held on May 24 to consider and approve the financial results for the period ended March 31, 2019

Sintex Industries: Board meeting is scheduled on May 22 to consider and approve the financial results for the period ended March 31, 2019, and dividend

Bank of Baroda: Board meeting will be held on May 22 to consider and approve the financial results for the period ended March 31, 2019, and Fund Raising

No stock under ban period on NSE

For May 15, there is no security under a ban. Securities in ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

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First Published on May 15, 2019 07:58 pm
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