Webinar :Register now for webinar on 'Trade BankNifty in just 15 minutes a day' - By Asmita Patel

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

Key support level for the Nifty is placed at 10,337.4, followed by 10,244.8. If the index moves up, the key resistance levels to watch out for are 10,484.8 and 10,539.6
Jul 1, 2020 / 09:02 PM IST

Indian equity benchmarks ended at a one week high on July 1, led by banking and financials.

Nifty surged 128 points, or 1.24 percent, to end at 10,430 and the Sensex ended 499 points, or 1.43 percent, higher at 35,414.

"Global sentiments were somewhat positive as improving economic data across countries was partially offset by worries about surging coronavirus cases. In domestic cues, better Goods & Service Tax collections in June and strong PMI data boosted market sentiment," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

"It is the buoyancy of the global markets which aided the surge amid rising cases in India. Though we are seeing a demand revival in select areas, it is still way lower compared to pre-COVID levels. Amid the mixed signals, we feel the upside could remain capped and traders should continue with their positive yet cautious stance. We reiterate that the performance of the banking pack would play a critical role in the next directional move as other sectors, by and large, have done their part," Ajit Mishra, VP - Research,

Religare Broking, said.

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 levels for the Nifty

According to pivot charts, the key support level for the Nifty is placed at 10,337.4, followed by 10,244.8. If the index moves up, the key resistance levels to watch out for are 10,484.8 and 10,539.6.

Nifty Bank

The Nifty Bank index ended 2.84 percent higher at 21,977.60 on July 1. The important pivot level, which will act as crucial support for the index, is placed at 21,485.73, followed by 20,993.87. On the upside, key resistance levels are placed at 22,265.53 and 22,553.46.

Call option data

Maximum call OI of 16.45 lakh contracts was seen at 10,500 strike, which will act as crucial resistance in the July series.

This is followed by 10,000, which holds 9.37 lakh contracts, and 10,400 strikes, which has accumulated 6.11 lakh contracts.

Significant call writing was seen at 10,800, which added 84,525 contracts, followed by 10,700 strikes, which added 67,875 contracts.

Call unwinding was witnessed at 10,400, which shed 1.34 lakh contracts, followed by 10,300, which shed 47,400 contracts.

Image 1

Put option data

Maximum put OI of 27.34 lakh contracts was seen at 10,000 strike, which will act as crucial support in the July series.

This is followed by 10,300, which holds 9.61 lakh contracts, and 10,500 strikes, which has accumulated 9.32 lakh contracts.

Significant put writing was seen at 10,000, which added 2.88 lakh contracts, followed by 10,400 strikes, which added 1.24 lakh contracts.

Put unwinding was seen at 9,900 strike, which shed 1.38 lakh contracts, followed by 10,100 strike, which shed 91,125 contracts.

Image 2

Stocks with a high delivery percentage

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

High delivery

56 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

22 stocks saw long unwinding

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

Long unwinding

21 stocks saw short build-up

An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions. Based on the OI future percentage, here are the top 10 stocks in which short build-up was seen.

Short buildup

43 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)

Board meetings

The board of Axis Bank will meet on July 2 for general purposes.

The board of Tata Power will meet on July 2 to consider and approve the preferential issue of shares.

The respective boards of WPIL and Maharashtra Seamless will meet on July 2 to consider and approve their quarterly earnings.

Stocks in the news

Anup Engineering: HDFC Mutual Fund bought 83,513 equity shares in the company at Rs 380.1 per share.

Somany Ceramics: Birla Sun Life Insurance Company sold 2,27,000 shares in the company at Rs 117.8 per share.

Ashok Leyland: Sales in June stood at 2,394 vehicles against 12,810 vehicles in June 2019.

Jindal Steel & Power: Mauritius subsidiary accepted a binding offer from Templar Investments and will divest its entire stake by way of sale of shares in step-down material subsidiary Jindal Shadeed Iron and Steel, Oman.

Eveready Industries: Q4 profit at Rs 63.06 crore versus Rs 4.54 crore, revenue at Rs 224 crore versus Rs 331.64 crore YoY.

Tata Motors: Sales in Q1FY21 at 25,047 vehicles as against 1,37,545 vehicles during Q1FY20.

Urja Global signed a MoU with Ogata Motors India for the manufacture of electric vehicles in Delhi.

JSW Energy: CARE Ratings revised its outlook to Stable on the long/short term bank facilities and debt instruments.

NMDC: Production in June remained unchanged at 5.04 MT, sales at 4.96 MT versus 5.32 MT YoY.

Fund flow

Fund flow

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 1,696.45 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,377.13 crore in the Indian equity market on July 1, provisional data available on the NSE showed.

Stock under F&O ban on NSEGlenmark Pharmaceuticals and Vodafone Idea are under the F&O ban for July 2. 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.
Nishant Kumar
first published: Jul 1, 2020 09:02 pm
Sections