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Last Updated : Nov 25, 2019 10:01 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 for Nifty is placed at 11,967.57, followed by 11,861.33. If the index continues moving up, key resistance levels to watch out for are 12,132.27 and 12,190.73.

Bulls regained control of the Indian market after two consecutive days of defeat as the market barometer scaled a fresh high on November 25.

Positive global cues, MSCI rejig, consistent buying by foreign investors, as well as some bit of short coverings ahead of F&O expiry, are the factors, experts said, that kept the market in the higher territory.

After the consolidation phase of the last three weeks, Nifty managed to close above its immediate hurdle of 12,035. It is now eyeing to touch a new record high.

Close

"We observe a formation of a long bull candle at the new swing high of 12,083 levels. Technically, this pattern indicates an upside breakout attempt of the sideways range of the last eight to 10 sessions. Nifty is currently placed at the key resistance point of 12,050-12,100 and a sustainable move above this area could pull Nifty towards the new all-time high of 12,300 levels in the next one week," said Nagaraj Shetti, Technical Research Analyst at HDFC securities.

Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in, told Moneycontrol that it is critical for Nifty to sustain above 11,919 levels to retain bullish bias as the current positive momentum shall fade away below this.

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

Key support and resistance level for Nifty

According to the pivot charts, the key support level for Nifty is placed at 11,967.57, followed by 11,861.33. If the index continues moving up, key resistance levels to watch out for are 12,132.27 and 12,190.73.

Nifty Bank

Nifty Bank closed 1.43 percent up at 31,555.90. The important pivot level, which will act as crucial support for the index, is placed at 31,206.6, followed by 30,857.3. On the upside, key resistance levels are placed at 31,748.4 and 31,940.9.

Call options data

The maximum call open interest (OI) of 29.78 lakh contracts was seen at the 12,000 strike price. It will act as a crucial resistance level in November series.

This is followed by 12,100 strike price, which holds 25.85 lakh contracts in open interest and 12,200, which has accumulated 17.68 lakh contracts in open interest.

A significant call unwinding was witnessed at 12,000 strike price, which shed 18.94 lakh contracts, followed by 11,900 which shed 9.46 lakh contracts and 12,200 which shed 5.05 lakh contracts.

No call writing was seen on November 25.

Image 1

Put options data

The maximum put open interest of 50.48 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the November series.

This is followed by 11,900 strike price, which holds 40.72 lakh contracts in open interest and 11,800 strike price, which has accumulated 28.58 lakh contracts in open interest.

Put writing was seen at the 12,000 strike price, which added nearly 30.47 lakh contracts, followed by 11,900 strike, which added 12.55 lakh contracts and 12,100 strike, which added 7.75 lakh contracts.

Put unwinding was seen at 12,500 strike price, which shed 64,275 contracts, followed by 12,400 strike which shed 6,600 contracts.

Image 2

Stocks with a high delivery percentage

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

High delivery

90 stocks saw long buildup

Overall, 90 stocks witnessed long buildup on November 25. Based on the open interest (OI) future percentage, here are the top 10 stocks in which long buildup was seen.

Long build up

2 stocks saw long unwinding

Long unwinding

12 stocks saw 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

45 stocks witnessed short-covering

A decrease in open interest, along with an increase in price, mostly indicates a short covering. Based on open interest (OI) future percentage. Here are the top 10 stocks in which short-covering was seen.

Short covering

Bulk Deals

Bulk Deals

(For more bulk deals, click here)

Upcoming analyst or board meetings/briefings

The broad of Anupam Finserv will meet on November 26 to consider and approve the company's quarterly results.

The broad of Aditya Vision will meet on November 26 to consider and approve the buyback of shares.

The broad of Poojawestern Metaliks will meet on November 26 to consider a bonus issue and increase in authorised capital.

Stocks in news

Zee Entertainment: The company has appointed three new independent directors in lieu of two independent and one nominee director of Essel Group. Also, Subhash Chandra stepped aside as the chairman of the company.

Ashok Leyland/ICICI Bank: Ashok Leyland signed a Memorandum of Understanding (MoU) with lClCl Bank to enter into a strategic financing partnership for two years.

Goodyear India: The company will close its manufacturing operations of Ballabgarh plant, Haryana from November 25-30.

Aarti Industries: The company incorporated two wholly-owned subsidiaries namely Aarti Organics and Aarti Bharuch.

MOIL: Shares will turn ex-date on November 26 for the proposed buyback and the record date for share buyback issue is November 27.

Setco Automotive: CARE revised credit rating on the company's long-term bank facilities to B from BB with a negative outlook.

Thomas Cook (India): CRISIL reaffirmed long-term rating on company bank loan facilities at AA-/Stable.

Ujaas Energy: CRISIL downgraded the company's long-term rating to BB/Negative from BB+/Stable.

FII & DII data

Foreign institutional investors (FIIs) bought shares worth Rs 960.9 crore while domestic institutional investors (DIIs) sold shares of worth Rs 213.66 crore in the Indian equity market on November 25, provisional data available on the NSE showed.

Fund flow

fund flow

Stock under F&O ban on NSE

There is no stock under the F&O ban for November 26. 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.

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First Published on Nov 25, 2019 07:50 pm
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