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

Key support level for the Nifty is placed at 10,521.5, followed by 10,424.8. If the index moves up, key resistance levels to watch out for are 10,771.2 and 10,924.2.
Jul 15, 2020 / 09:18 PM IST

The Indian equity market opened gap up, following positive global cues, but shed most of the day’s gains to end flat, led by a selloff in Reliance Industries (RIL) in the last hour of trade.

The Sensex closed 19 points higher at 36,051.81 and the Nifty settled 11 points up at 10,618.20.

"The market should consolidate in the near term given the persistent rise in coronavirus cases and implementation of fresh lockdowns in certain parts of the country. The ongoing earnings season would also keep the markets volatile," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

He advises traders and investors to stay cautious and be more defensive in their portfolio approach, respectively. "Technically, the Nifty has broken its rising support trend line and could continue to decline towards 10,500-10,450 levels."

We have collated 15 data points to help you spot profitable trades in the next session:

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 10,521.5, followed by 10,424.8. If the index moves up, key resistance levels to watch out for are 10,771.2 and 10,924.2.

Nifty Bank

The Bank Nifty fell 0.24 percent to close at 21,340.75 on July 15. The important pivot level, which will act as crucial support, is placed at 21,069.1, followed by 20,797.4. On the upside, key resistance levels are placed at 21,774 and 22,207.2.

Call option data

Maximum call OI of 25.47 lakh contracts was seen at 11,000 strike, which will act as crucial resistance in the July series.

This is followed by 10,800, which holds 10.89 lakh contracts, and 10,500 strikes, which has accumulated 9.07 lakh contracts.

Significant call writing was seen at 11,000, which added nearly 89,175 contracts.

Call unwinding was witnessed at 10,700, which shed 1.47 lakh contracts, followed by 10,600 strikes, which shed 81,300 contracts.

Call July 15

Put option data

Maximum put OI of 18.6 lakh contracts was seen at 10,500 strike, which will act as crucial support in the July series.

This is followed by 10,200, which holds 13.06 lakh contracts, and 10,400 strikes, which has accumulated 12.88 lakh contracts.

Put writing was seen at 10,400, which added 1.13 lakh contracts, followed by 10,100 strikes, which added 86,325 contracts.

Put unwinding was witnessed at 10,700 strikes, which shed 1.2 lakh contracts, followed by 10,600 strikes, which shed 45,000 contracts.

Put July 15

Stocks with a high delivery percentage

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

High delivery July 15

14 stocks saw long build-up

long build july 15

53 stocks saw long unwinding

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

Long unwinding july 15

43 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 build

32 stocks witnessed short-covering

A decrease in OI, along with an increase in price, mostly indicates a short-covering.

Short covering july 15

Bulk deals

Bulk July 15(For more bulk deals, click here)

Results on July 16

L&T Finance Holdings, L&T Technology Services, Bajaj Consumer Care, Bharat Wire Ropes, Aditya Birla Money, Cyient, etc.

Stocks in the news

Infosys: Q1 profit at Rs 4,233 crore versus Rs 4,321 crore, revenue at Rs 23,665 crore versus Rs 23,267 crore QoQ

State Bank of India: Board approved raising up to Rs 25,000 crore via bonds in FY21

Carborundum Universal: SBI Mutual Fund acquired 1,82,767 shares in the company on July 14, increasing its stake to 7.15 percent

Centrum Capital: Promoter BG Advisory Services released a pledge on 12 lakh shares

GE T&D India: SB Mutual Fund acquired over 60.1 lakh shares in the company on July 14, increasing its stake to 7.06 percent​

Fund flow

Fund July 15

FII and DII data

Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) sold shares worth Rs 221.7 crore and Rs 899.37 crore, respectively, in the Indian equity market on July 15, provisional data available on the NSE showed.

Stock under F&O ban on NSETen stocks - Canara Bank, Century Textiles & Industries, Equitas Holdings, Escorts, Vodafone Idea, L&T Finance Holdings, Mindtree, Punjab National Bank, Steel Authority of India (SAIL) and Sun TV - are under the F&O ban for July 16. 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 15, 2020 09:18 pm
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