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Last Updated : Apr 20, 2020 10:22 PM IST | Source: Moneycontrol.com

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

Key support level for Nifty is placed at 9,198.15, followed by 9,134.45. If the index starts moving up, key resistance levels to watch out for are 9,358.2 and 9,454.55


The Indian benchmark indices traded in a tight range and settled almost flat amid mixed cues on April 20.

The Sensex closed 59 points, or 0.19 percent up, at 31,648, and the Nifty finished five points lower, or down 0.05 percent, at 9,261.85.

"We have mixed signals from the local front as of now. The steps, which are taken by the government for lifting the lockdown partially, Reserve Bank of India’s measures to stabilise the financial system and projection of a normal monsoon have provided a sentimental boost," said Ajit Mishra, VP - Research, Religare Broking.

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However, he added that a sharp increase in coronavirus cases is still the major cause of concern.

"As the earnings season progresses, the stock-specific movement would remain high, hence we would advise participants to continue with a cautious approach and prefer hedged bets," Mishra said.

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

Note: The OI and volume data of stocks given in this story are the aggregates of three-months data and not of the current month only.

Key support and resistance level for the Nifty

According to pivot charts, the key support level for Nifty is placed at 9,198.15, followed by 9,134.45. If the index starts moving up, key resistance levels to watch out for are 9,358.2 and 9,454.55.

Nifty Bank

Nifty Bank closed 0.77 percent lower at 20,522.65. The important pivot level, which will act as crucial support for the index, is placed at 20,270.56, followed by 20,018.43. On the upside, key resistance levels are placed at 20,948.46 and 21,374.23.

Call options data

Maximum call open interest (OI) of 14.03 lakh contracts was seen at the 9,500 strike price. It will act as a crucial resistance level in the April series.

This is followed by the 9,000, which holds 13.69 lakh contracts, and 9,800 strikes, which has accumulated 3.78 lakh contracts.

Call writing was seen at the 9,400, which added 42,450 contracts, followed by 9,600 strikes that added 41,850 contracts.

Call unwinding was witnessed at 9,000 strike, which shed 1.16 lakh contracts.

Image 1

Put options data

Maximum put OI of 23.5 lakh contracts was seen at 9,000 strike, which will act as crucial support in the April series.

This is followed by 9,500, which holds 9.05 lakh contracts, and 8,800 strikes, which has accumulated 4.64 lakh contracts.

Put writing was seen at the 9,000, which added 2.65 lakh contracts, followed by 9,300 strikes, which added 90,000 contracts.

Put unwinding was seen at 8,900 strike, which shed 225 contracts.

Image 2

Stocks with a high delivery percentage

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

High delivery

27 stocks saw long build-up

Based on open interest (OI) future percentage, here are the top 10 stocks in which long build-up was seen.

Long buildup

35 stocks saw long unwinding

Based on OI future percentage, here are the top 10 stocks in which long unwinding was seen.

Long unwinding

59 stocks saw short build-up

An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions. Based on OI future percentage, here are the top 10 stocks in which short build-up was seen.

Short buildup

25 stocks witnessed short-covering

A decrease in OI, 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)

Earnings

ACC, CRISIL, Den Networks, GSS Infotech, Tejas Networks, ICICI Prudential Life Insurance Company and GTPL Hathway are the companies that will release their March quarter earnings on April 21.

Stocks in the news

Infosys: Profit fell 3.1 percent to Rs 4,321 crore in Q4, revenue rose 0.8 percent to Rs 23,267 crore.

TCS: Amway partners with TCS for strategic IT operations transformation.

NLC India: Company raised Rs 1,000 crore via issuance of commercial papers to SBI for standalone business operations.

Infibeam Avenues: Company signed a binding agreement for the acquisition of US-based IT firm AI Fintech.

Precision Wires: The company received permission to restart manufacturing operations at Silvassa plant.

HeidelbergCement India: Company resumed partial operations in some manufacturing units.

Excel Industries: Company's manufacturing operations have restarted and will be ramped up gradually.

Fund flow

Fund flow

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 265.89 crore and domestic institutional investors (DIIs) sold shares of worth Rs 788.87 crore in the Indian equity market on April 20, provisional data available on the NSE showed.

Stock under F&O ban on NSE

No security is under the F&O ban for April 21. 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 Apr 20, 2020 09:03 pm
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