Moneycontrol
Last Updated : Nov 19, 2018 08:26 PM IST | Source: Moneycontrol.com

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

Experts said the index needs to break the next critical resistance of 10,840 levels to surpass psychological 11,000 levels which could be possible before state elections results.

Sunil Shankar Matkar

Bulls kept tight control on Dalal Street for the third consecutive session on November 19 as the Nifty 50 decisively closed above the 200-DMA, which is placed around 10,700 levels, forming bullish candle on the daily charts.

The 50-share NSE Nifty gained 81.20 points to close at 10,763.40 while the 30-share BSE Sensex climbed 317.72 points to 35,774.88. Appreciation in the rupee, fall in crude oil prices and positive Asian cues helped the market rally.

Experts said the index needs to break the next critical resistance of 10,840 levels to surpass psychological 11,000 levels which could be possible before state elections results.

"For the last couple of sessions the index is witnessing follow through of a bullish breakout of an Inside bar pattern formed on the daily chart," Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas told Moneycontrol.

He said also the daily Bollinger Bands are now in expansion mode after a contraction phase, which is creating room for the price action on the upside. Thus the Nifty has resumed the higher top higher bottom formation after a brief pause, he added.

He believes the Nifty looks poised to head towards 11,000-11,140 in the short term. On the other hand, 10,630-10,600 shall now act as a key support zone.

India VIX moved up by 3.56 percent to 19.00 levels. Volatility moved up even after the upmove in the Nifty index and now it has to cool down below 17-16 zones to get the next leg of smooth upside rally in the market.

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

Key support and resistance level for Nifty

The Nifty closed at 10,763.40 on Monday. According to Pivot charts, the key support level is placed at 10,709.90, followed by 10,656.4. If the index starts moving upwards, key resistance levels to watch out are 10,795.80 and then 10,828.20.

Nifty Bank

The Nifty Bank index closed at 26,300.70, up 55.15 points on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 26,210.29, followed by 26,119.9. On the upside, key resistance levels are placed at 26,385.09, followed by 26,469.50.

Call Options Data

Maximum Call open interest (OI) of 34.19 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the November series.

This was followed by the 10,800 strike price, which now holds 34.05 lakh contracts in open interest, and 10,700, which has accumulated 27.32 lakh contracts in open interest.

Maximum Call writing was seen at the strike price of 11,000, which added 3.00 lakh contracts, followed by 10,900, which saw the addition of 0.67 lakh contracts.

Maximum Call unwinding was seen at the strike price of 10,600, which shed 2.36 lakh contracts, followed by 10,700 which shed 1.35 lakh contracts and 10,500 which shed 1.06 lakh contracts.

Image319112018

Put Options data

Maximum Put open interest of 33.32 lakh contracts was seen at the 10,500 strike price. This will act as a crucial support level for the November series.

This was followed by the 10,600 strike price, which now holds 26.69 lakh contracts in open interest, and the 10,400 strike price, which has now accumulated 26.67 lakh contracts in open interest.

Put writing was seen at the strike price of 10,700, which added 10.97 lakh contracts, followed by 10,500 and 10,600 which both added 5.26 lakh contracts each.

There was hardly any Put unwinding seen.

Image419112018

FII & DII data

Foreign institutional investors (FIIs) bought shares worth Rs 1,103.36 crore while domestic institutional investors sold Rs 310.26 crore worth of shares in the Indian equity market on Monday, as per provisional data available on the NSE.

Fund Flow Picture

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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.

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72 stocks saw a long buildup

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69 stocks saw short covering

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

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42 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.

Image919112018

21 stocks saw long unwinding

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Bulk Deals

Bohra Industries: Aditi Speciality Packaging Private Limited sold 1 lakh equity shares of the company at Rs 24.14 per share on the NSE.

Talwalkar Fitness: Birla Mutual Fund sold 3,90,845 shares of the company at Rs 45.22 per share on the NSE.

Venus Remedies: P Eswaramoorthy sold 83,000 equity shares of the company at Rs 57.69 per share on the NSE.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Shriram City Union Finance: Company's officials will be meeting Dolat Capital Market Private Limited on November 20 and E&R Advisors on November 22.

Aarey Drugs & Pharmaceuticals: Board meeting is to be held on November 30 to consider and recommend payment of interim dividend.

Skipper: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 20 at Mumbai.

Welspun Enterprises: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 20 at Mumbai.

Astral Poly Technik: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 20 at Mumbai.

Reliance Capital: Board meeting is scheduled to be held on November 27 to announce unaudited financial results for the quarter and half-year ended September 2018.

HEG: Board meeting is scheduled to be held on November 26 to consider the proposal for buyback of the equity shares of the company.

Cholamandalam Investment and Finance Company: Company's officials will be meeting The Hongkong and Shanghai Banking Corporation Limited on November 21 and Axis Bank on November 22.

Welspun Corp: Company will be attending a conference organised by Kotak Securities on November 21 at Mumbai.

Future Supply Chain Solutions: Company's officials will be meeting analysts/investors on November 20.

Blue Star: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 20 at Mumbai, will also meet Dalal & Broacha Stock Broking and Angel Broking on November 21.

Bodal Chemicals: Company's Executive Director, Ankit S Patel and Chief Financial Officer, Mayur B Padhya will be attending IDFC Annual Investor Conference under the event theme 'The Stock Called India' organized by IDFC Securities on November 21.

Som Distilleries & Breweries: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 21 at Mumbai, and also analysts/investors on November 20 at their office.

GHCL: Sunil Gupta, General Manager (Finance) and Abhishek Chaturvedi, Manager (Finance) of the company will participate in the Annual Investors'' conference 2018 hosted by Kotak Securities to be held in Mumbai on November 21.

Motherson Sumi Systems: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 21 at Mumbai.

Kridhan Infra: Company's officials will be meeting analysts/investors on November 20.

NHPC: Company will hold a conference call on November 20 to discuss company's results for the 2nd quarter of FY 2018-19 and interact with analysts & investors.

Pfizer: Company's officials will be meeting Pari Washington Company Advisors Private Limited on November 20 at Mumbai.

Maharashtra Seamless: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 20 and November 21 at Mumbai.

Tamil Nadu Newsprint & Papers: Company's officials will be meeting analysts/investors on November 20, 21, 22 and 23.

MIC Electronics: Prabhakar Nandiraju, Resolution Professional (RP), on November 29, will consider the audited financial results of the company for the 2nd quarter and half year ended September 2018.

Vanta Bioscience: Board meeting is scheduled on November 28 to consider the allotment of equity shares to promoters and non promoters on preferential basis.

Vikas EcoTech: Company will be meeting a group of analysts on November 20.

KPR Mill: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' during November 19-21 at Mumbai.

Graphite India: Management of the company is scheduled to meet investors on November 20 and 21 organised by Bank of America Merrill Lynch in Tokyo, Japan.

Everest Industries: Company's executives are scheduled to attend Annual Investor Conference organised by IDFC Securities, namely 'The Stock Called India' on November 20 at Mumbai.

Stocks in news

Fortis Malar Hospitals: Vijayasarathy Desikan, Chief Financial Officer, has resigned from his position.

Escorts: CRISIL assigned the A1+ in respect of commercial paper programme of Rs 100 crore of the company.

Electrosteel Casting: CARE has reaffirmed rating for long term bank facilities of the company at BBB+; Stable.

Future Enterprises: Company acquired 100 percent equity share capital of Ritvika Trading Private Limited (RTPL).

Mandhana Retail Ventures: Hemant Gupta has resigned from the post of Chief Financial Officer and Chief Operating Officer.

BLS International Services: Company commenced operation of premium services in United Kingdom's new UK Visa and Citizenship Application Services (UKVCAS) centre for applicants applying to extend their residence in the UK.

Kridhan Infra: Kridhan Infra's Singapore Subsidiary Swee Hong Limited (SHL) has successfully won an order for construction of Link Sewers for the DTSS Phase 2 project from the Public Utilities Board, Singapore worth Rs 195 crore.

PSP Projects: Company has bagged new institutional & industrial projects worth Rs 372.47 crore from various clients including two projects of Rs 208.49 crore in which the company has been ranked the L1 bidder (Lowest Bidder) by regulatory authority.

Oil India: Board approves issue of debt securities for aggregate principal amount up to Rs 4,000 crore or equivalent amount in foreign currency, to meet on December 3 regarding share buyback.

Yes Bank: R Chandrasekhar likely to have resigned from the board of the bank. He would be the third member to resign from the board - CNBC-TV18 Sources.

Jumbo Finance: Board approves increase in borrowing limits of company up to Rs 30 crore.

NMDC: Production at Donimalai mine suspended. Suspension of production at the mine is temporary - CNBC-TV18.

IL&FS: The company was unable to service obligations w.r.t. principal & interest to Mudra on November 17 - CNBC-TV18

Usha Martin: Company clarified saying not aware of talks on Basant-Prashant Jhawar to sell majority stake.

South Indian Bank: Bank raises 1 year MCLR to 9.45 percent from 9.35 percent with effect from November 20.

ONGC: Venezuela pays $35 million dividend dues to ONGC Videsh which has 2 projects in Venezuela - CNBC-TV18.

Kamdhenu: CARE assigned A-/Stable for company's long term bank facilities worth Rs 130 crore and A2+ for short term bank facilities worth Rs 20 crore.

Sumeru Industries: Company is proposed to enter into LLP agreement in the capacity of 25 percent of investment and profit sharing ratio. The proposed "Aalps Infraspace LLP" will operate in the field of construction and redevelopment.

4 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 November 20, 2018, Adani Enterprises, Adani Power, Jet Airways and PC Jeweller are present in this list.
First Published on Nov 19, 2018 08:22 pm
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