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Last Updated : May 21, 2020 02:29 AM IST | Source: Moneycontrol.com

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

The key support level for Nifty is placed at 8,930, followed by 8,793.45. If the index moves up, key resistance levels to watch out for are 9,148.45 and 9,230.35.

Benchmark indices closed 2 percent higher each with Sensex ending the session with a gain of 622 points at 30,818.61 and Nifty settling 187 points higher at 9,066.55.

"Benchmark indices closed up by more than 2 percent, in spite of mixed global cues and unabated increase in the number of infections across India. The government cabinet approvals of some of the proposed measures and leaving the door open for further stimulus measures could have played a part in the positivity. Investors are advised to remain cautious," said Vinod Nair, Head of Research at Geojit Financial Services.

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


Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three-months data and not of the current month only.

Key support and resistance level for Nifty

According to pivot charts, the key support level for Nifty is placed at 8,930, followed by 8,793.45. If the index moves up, key resistance levels to watch out for are 9,148.45 and 9,230.35.

Nifty Bank

The Nifty Bank index closed 2.02 percent higher at 17,840.20. The important pivot level, which will act as crucial support for the index, is placed at 17,497.7, followed by 17,155.2. On the upside, key resistance levels are placed at 18,092.7 and 18,345.2.

Call option data

Maximum call OI of 18.06 lakh contracts was seen at 9,500 strike, which will act as crucial resistance in the May series.

This is followed by 9,300, which holds 16.24 lakh contracts, and 9,000 strikes, which has accumulated 13.07 lakh contracts.

Significant call writing was seen at the 9,200, which added 1.66 lakh contracts, followed by 9,300 strikes that added 1.29 lakh contracts.

Call unwinding was witnessed at 8,900, which shed 38,400 contracts.

Image 1

Put option data

Maximum put OI of 25.61 lakh contracts was seen at 9,000 strike, which will act as crucial support in the May series.

This is followed by 8,800, which holds 13.12 lakh contracts, and 8,700 strikes, which has accumulated 8.55 lakh contracts.

Significant Put writing was seen at 9,000, which added 3.6 lakh contracts, followed by 8,800 strikes, which added 2.08 lakh contracts.

Put unwinding was seen at 9,500, which shed 1.08 lakh contracts, followed by 9,200 strikes that shed 21,225 contracts.

Image 2

Stocks with a high delivery percentage

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

high delivery

98 stocks saw long build-up

Based on the OI future percentage, here are the top 10 stocks in which long build-up was seen.

Long buildup

8 stocks saw long unwinding

long unwinding

12 stocks saw short build-up

An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions.

short build up

28 stocks witnessed short-covering

A decrease in OI, along with an increase in price, mostly indicates a short-covering. Based on the OI future percentage, here are the top 10 stocks in which short-covering was seen.

short covering

Bulk deals

bulk deals

(For more bulk deals, click here)

Results on May 21

Bajaj Finserv, Bajaj Holdings & Investment, Colgate-Palmolive, Hindustan Zinc, Apcotex Industries, Aptech, Birla Corporation, Hawkins Cookers, Jubilant Industries, Quick Heal, Tata Metaliks, VST Industries

Stocks in the news

Bajaj Auto Q4: Profit at Rs 1,310 cr versus Rs 1,305.6 cr, revenue at Rs 6,816 cr versus Rs 7,420.5 cr YoY.

Jubilant Foodworks Q4: Profit at Rs 33.1 cr versus Rs 79 cr, revenue at Rs 909 cr versus Rs 873 cr YoY.

Supreme Petrochem Q4: Profit at Rs 23.5 cr versus Rs 39 cr, revenue at Rs 663 cr versus Rs 822 cr YoY.

Birlasoft Q4: Profit at Rs 69 cr versus Rs 66 cr, revenue at Rs 907 cr versus Rs 788 cr YoY.

Mahindra Logistics Q4: Profit at Rs 9.73 cr versus Rs 23.53 cr, revenue at Rs 812 cr versus Rs 1,015 cr YoY.

Shalimar Paints: Company has resumed operations.​

Fund flow

Fund flow

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 1,466.52 crore, while domestic institutional investors (DIIs) bought shares worth Rs 2,373.19 crore in the Indian equity market on May 20, provisional data available on the NSE showed.

Stock under F&O ban on NSEVodafone Idea is under the F&O ban for May 21. 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.
First Published on May 20, 2020 08:43 pm