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Last Updated : May 06, 2019 09:53 PM IST | Source: Moneycontrol.com

Trade setup for Tuesday: Top 15 things to know before opening bell

According to the Pivot charts, the key support level is placed at 11,568.83 and resistance at 11,630.03.

Moneycontrol News @moneycontrolcom

Benchmark indices recovered from the day's low but ended nearly a percent lower on May 6 due to fresh trade worries between the US and China.

The Sensex ended down 362.92 points at 38,600.34, while Nifty closed 114 points lower at 11,598.30.

Zee Entertainment, Titan Company, Yes Bank, Tata Motors and JSW Steel were among major losers on the indices, while BPCL, TCS, ITC, Bajaj Finserv and Bharti Airtel were top losers.

Except IT, all other sectoral indices ended in the red led by metal, infra, bank, auto, pharma and FMCG.  BSE Midcap index and BSE smallcap index also ended lower.

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

Key support and resistance level for Nifty

Nifty closed at 11,598.30 on May 6. According to the Pivot charts, the key support level is placed at 11,568.83, followed by 11,539.47. If the index starts moving upward, key resistance levels to watch out are 11,630.03 and 11,661.87.

Nifty Bank

The Nifty Bank closed at 29,618.45, down 335.7 points on May 6. The important Pivot level, which will act as crucial support for the index, is placed at 29,512.2, followed by 29,406. On the upside, key resistance levels are placed at 29,741.0, followed by 29,863.6.

Call options data

Maximum Call open interest (OI) of 15.06 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 7.96 lakh contracts in open interest, and 11,700, which has accumulated 7.10 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 12,000, which added 2.67 lakh contracts, followed by 11,700 strike that added 0.62 lakh contracts.

There was no Put unwinding seen.

call

Put options data

Maximum Put open interest of 19.58 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 14.24 lakh contracts in open interest and 11,800 strike price, which has now accumulated 11.03 lakh contracts in open interest.

Put writing was seen at the strike price of 11,600 that added 1.43 lakh contracts, followed by 11,500 strike price that added 1.33 lakh contracts.

There was hardly any Put unwinding seen.

put

Stocks with a high delivery percentage

High delivery percentage suggests investors are accepting the delivery of the stock, which could imply that investors are bullish on it.

highest rollover

30 stocks saw a long build-up

longbuildup

8 stocks saw short covering

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

short covering

132 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 build up

27 stocks saw long unwinding

long unwining

FII & DII data

Foreign Institutional Investors (FIIs) sold shares worth Rs 948.98 crore while Domestic Institutional Investors (DIIs) bought Rs 89.89 crore worth of shares in the Indian equity market on May 2, as per provisional data available on the NSE.

Fund Flow Picture

fiinew

Bulk Deals

BULKD

Analyst or Board Meet/Briefings

Edelweiss Financial Services: Board meeting is scheduled on May 14 to consider and approve the audited financial results for the period ended March 31, 2019

OBC: Board meeting is scheduled on May 13 to consider and approve the financial results for the period ended March 31, 2019, fundraising and other business matters

Petronet LNG: Board meeting is scheduled on May 15 to consider and approve the financial results for the period ended March 31, 2019, and dividend

Inspirisys Solutions: Board meeting is scheduled on May 9 to consider fundraising

Stocks in news

Marico Q4: Adjusted net profit was up 18.6 percent at Rs 217 crore versus Rs 183 crore, revenue was up 8.7 percent at Rs 1,609 crore versus Rs 1,480 crore, YoY

ICICI Bank Q4: Net profit was down 5 percent at Rs 969 crore versus Rs 1,020 crore, NII was up 26.5 percent at Rs 7,620 crore versus Rs 6,021.7 crore, YoY.

Gujarat Gas Q4: Net profit was down 15.6 percent at Rs 116.5 crore versus Rs 138 crore, revenue was down 9.9 percent at Rs 1,907.5 crore versus Rs 2,117.4 crore, QoQ

Wockhardt Q4: Net loss was at Rs 14.5 crore against loss of Rs 154.5 crore, revenue was down 3.8 percent at Rs 979 crore versus Rs 1,018 crore, YoY

L&T Technology Services appointed Abhishek Sinha as Chief Operating Officer with effect from May 6, 2019

One stock under ban period on NSE

For May 7, Jet Airways is in the list for stocks under a ban. Securities in 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 6, 2019 08:43 pm
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