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Last Updated : Apr 29, 2019 09:20 PM IST | Source: Moneycontrol.com

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

Jayant Manglik, President - Retail Distribution, Religare Broking, reiterated his cautious view on market and suggested focusing on trade management.

Moneycontrol News @moneycontrolcom

On April 26, the market ended at day's high but for the week it was a flat close. The BSE Sensex gained 336.47 points to end at 39,067.33, while Nifty was up 112.90 points at 11,754.70.

Jayant Manglik, President - Retail Distribution, Religare Broking, reiterated his cautious view on market and suggested focusing on trade management.

Among the sectoral indices, pharma and IT pack look strong while metal and media counters may continue to underperform. Traders should align their trades accordingly, he added.

Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in said lack of follow through on downside post April 25 fall suggested that market is in a consolidation range of 11,850–11,550 and a breakout from this range is required for a directional move to emerge in either of the directions.

Broader market underperformed frontliners with the Nifty Midcap index shed 0.44 percent and Smallcap index ended with marginal loss.

Among sectors, Nifty Bank, Energy and metal gained more than a percent, while auto index remained under pressure.

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

Key support and resistance level for Nifty

Nifty closed at 11,754.7 on April 26. According to the Pivot charts, the key support level is placed at 11,690.03, followed by 11,625.37. If the index starts moving upward, key resistance levels to watch out are 11,791.13 and 11,827.57.

Nifty Bank

The Nifty Bank closed at 30,013.5, up 452.15 points, on April 26. The important Pivot level, which will act as crucial support for the index, is placed at 29,701.73, followed by 29,389.97. On the upside, key resistance levels are placed at 30,186.73, followed by 30,359.97.

Call options data

Maximum Call open interest (OI) of 12.67 lakh contracts was seen at the 12,000 strike price. This will act as a crucial resistance level for the May series.

This was followed by 11,800 strike price, which now holds 6.87 lakh contracts in open interest, and 12,100, which has accumulated 5.65 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 12,000, which added 2.17 lakh contracts, followed by 11,800 strike that added 1.47 lakh contracts.

Call unwinding was seen at the strike price of 11,900 that shed 0.59 lakh contracts.

call

Put options data

Maximum Put open interest of 16.57 lakh contracts was seen at 11,500 strike price. This will act as a crucial support level for the May series.

This was followed by 11,700 strike price, which now holds 12.33 lakh contracts in open interest and 11,800 strike price, which has now accumulated 6.61 lakh contracts in open interest.

Put writing was seen at the strike price of 11,800 that added 2.03 lakh contracts, followed by 11,700 strike price that added 0.77 lakh contracts.

There was hardly any Put unwinding seen.

put

FII & DII data

Foreign Institutional Investors (FIIs) sold shares worth Rs 70.73 crore while Domestic Institutional Investors (DIIs) bought Rs 920.88 crore worth of shares in the Indian equity market on April 25, as per provisional data available on the NSE.

Fund Flow Picture

FII

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 delevery

63 stocks saw a long buildup

long buildup

38 stocks saw short covering

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

short covering

66 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

28 stocks saw long unwinding

long unwining

Bulk Deals on April 26

bulk Deal

Analyst or Board Meet/Briefings

EID Parry board meeting on May 8 to consider and approve the financial results for the period ended March 31, 2019

Jayant Agro board meeting on May 11 to consider and approve the financial results for the period ended March 31, 2019 and dividend

Automobile Corporation to consider and approve Audited Financial Results for the Quarter /Year ended March 31, 2019 on May 10

Baba Arts board meeting on May 09 to consider and approve the Audited Financial Results of the Company for the Quarter and Year ended 31st March, 2019.

Stocks in news:

Cholamandalam Investment and Finance Company approved subdivision of equity shares

Precision Camshafts approved to initiate liquidation of a wholly owned subsidiary company PCL (Shanghai) Co

Acuite Rating & Research assigned Acuite BBB- and Acuite A3 rating for long term and short term bank facilities of Mukand

Cipla's wholly owned subsidiary Cipla Medpro South Africa (Pty) completed closing of transaction and acquired 30% stake in Brandmed (Pty)

GMM Pfaudler completed the acquisition of the IMSD of Sudarshan Chemical Industries

Zero 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 April 30, not a single stock present in this list.
First Published on Apr 29, 2019 07:56 pm
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