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Last Updated : May 27, 2019 10:01 PM IST | Source: Moneycontrol.com

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

The broader markets outperformed frontliners as the Nifty Midcap and Smallcap indices gained 1.6 percent each.

Sunil Matkar @moneycontrolcom

The market continued its positive momentum for the second consecutive session and ended at fresh record closing high on May 27. Banking & financials and metals led uptrend.

The broader market outperformed the frontlines as the Nifty Midcap and Smallcap indices gained 1.6 percent each.

The BSE Sensex rallied 248.57 points to 39,683.29 while the Nifty50 rose 80.70 points to 11,924.80, forming a bullish candle on the daily charts indicating a bullish trend. Rangebound trade in the second half of the day's session, however, made traders a bit cautious, experts said.

Close

"The short term trend of the market continues to be positive. Nifty could now encounter minor resistance at 12,050 levels in the next few sessions," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.

He said any downward correction from near the hurdle is unlikely to damage the near term uptrend status of the market.

"In terms of the Fibonacci retracement, the bounce back has turned out to be a deep one. It reached 78.6 percent retracement mark today & formed a small distribution over there. Hence, the upside looks quite limited from the current level," Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas said.

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

Key support and resistance level for Nifty

Nifty closed at 11,924.75 on May 27. According to the Pivot charts, the key support level is placed at 11,839.07, followed by 11,753.33. If the index starts moving upward, key resistance levels to watch out are 11,983.87 and 12,042.93.

Nifty Bank

The Nifty Bank index closed at 31,647.65, up 435.10 points on May 27. The important Pivot level, which will act as crucial support for the index, is placed at 31,293.2, followed by 30,938.7. On the upside, key resistance levels are placed at 31,851.5, followed by 32,055.3.

Call options data

Maximum Call open interest (OI) of 44.04 lakh contracts was seen at the 12,500 strike price. This will act as a crucial resistance level for the May series.

This was followed by 12,000 strike price, which now holds 37.12 lakh contracts in open interest, and 12,200, which has accumulated 23.19 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 12,300, which added 3.73 lakh contracts, followed by 12,400 strike which added 1.24 lakh contracts.

Call unwinding was seen at the strike price of 11,800, which shed 4.3 lakh contracts, followed by 12,500 strike which shed 3.11 lakh contracts and 11,700 strike which shed 1.86 lakh contracts.

Image427052019'

Put options data

Maximum Put open interest of 29.91 lakh contracts was seen at 11,700 strike price. This will act as a crucial support level for the May series.

This was followed by 11,500 strike price, which now holds 26.22 lakh contracts in open interest and 11,800 strike price, which has now accumulated 24.40 lakh contracts in open interest.

Put writing was seen at the strike price of 11,900, which added 9.07 lakh contracts, followed by 11,800 strike price that added 8.64 lakh contracts and 11,700 strike price that added 3.47 lakh contracts.

Put unwinding was seen at the strike price of 11,400, which shed 4.19 lakh contracts, followed by 11,300 strike which shed 2.28 lakh contracts and 11,200 strike which shed 2.11 lakh contracts.

Image527052019

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.

Image627052019

91 stocks saw a long buildup

Image727052019

40 stocks that saw short covering

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

Image827052019

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.

Image927052019

24 stocks saw long unwinding

Image1027052019

FII & DII data

Foreign Institutional Investors (FIIs) net bought shares worth Rs 1,215.36 crore while Domestic Institutional Investors (DIIs) sold Rs 327.86 crore worth of shares in the Indian equity market on May 27, as per provisional data available on the NSE.

Fund Flow Picture

Image1127052019

Stocks in news

Results on May 28: More than 380 companies will release their March quarter earnings report on Tuesday.

Image1227052019

Oil India Q4: Reported a loss of Rs 208.5 crore versus profit of Rs 1,233.4 crore; revenue was down 12.2 percent at Rs 3,086.9 crore versus Rs 3,514 crore (QoQ).

Adani Ports Q4: Profit grew 38.7 percent at Rs 1,285.4 crore versus Rs 926.8 crore; revenue was down 3.2 percent at Rs 3,082.5 crore versus Rs 3,182.9 crore (YoY).

NHPC Q4: Profit jumped to Rs 492.3 crore versus Rs 199.8 crore; revenue was up 71.5 percent at Rs 1,950.3 crore versus Rs 1,137.3 crore (YoY).

Zee Entertainment Q4: Profit jumped 26.8 percent at Rs 292.5 crore versus Rs 230.6 crore; revenue was up 17 percent at Rs 2,019 crore versus Rs 1,725.3 crore (YoY).

InterGlobe Aviation Q4: Profit jumped to Rs 589.6 crore versus Rs 117.6 crore; revenue was up 35.9 percent at Rs 7,883.3 crore versus Rs 5,799.1 crore (YoY).

Natco Pharma Q4: Consolidated profit fell 59.8 percent at Rs 120.4 crore versus Rs 299.7 crore; consolidated revenue was down 40.6 percent at Rs 455.7 crore versus Rs 767.8 crore (YoY).

HAL Q4: Profit rose 13.1 percent at Rs 1,177 crore versus Rs 1,041 crore; revenue was up 8.5 percent at Rs 10,044.6 crore versus Rs 9,254 crore (YoY).

Emami Q4: Profit declined 6.8 percent at Rs 56.2 crore versus Rs 60.2 crore; revenue grew 3.7 percent at Rs 639.6 crore versus Rs 617 crore (YoY).

Adani Ports: Company will announce a dividend, share buyback by June 4.

Reliance Capital: Company divested entire stake in Big 92.7 FM radio business to Music Broadcast.

Bulk Deals

Upsurge Investment Finance: Gagan Deep Multitrade bought 2,10,000 shares of the company at Rs 13.30 per share on the BSE.

(For more bulk deals, Click Here)

Analyst or Board Meet/Briefings

Navkar Corporation: Earnings call will be held on May 29 to discuss the financial performance for Q4FY19.

Benara Bearings: Company will declare its March quarter earnings on May 30.

Securities under a ban

For May 28, three stocks -- Adani Power, IDBI Bank and PC Jeweller -- are under a ban period on NSE.

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.

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First Published on May 27, 2019 09:59 pm
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