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

Benchmark indices declined sharply on the very first day of the week (June 15) as bears dominated. Indian equities fell in line with global peers due to rising coronavirus cases, which investors fear could delay an economic recovery.

The Sensex slipped 552.09 points, or 1.63 percent, to close at 33,228.80, dented by banking and financial stocks.

The Nifty dropped 159.20 points, or 1.60 percent, to 9,813.70 and formed bearish candle, which resembles an Inside Bar, on the daily charts.

"Going forward, 9,544 would act as a strong support for the index and we may see an upmove towards 10,000 and 10,200 levels. Traders are advised to look for buying opportunities on every dip," Arpit Beriwal, Assistant Manager | Analyst-Technical at Motilal Oswal Financial Services, told Moneycontrol.

Despite the fall in the benchmark index, the market breadth remained neutral as there was some buying interest in smallcap and midcap counters.

Considering the recent run up in benchmark indices, Ajit Mishra, VP - Research at Religare Broking, feels some consolidation cannot be ruled out in the near term as the market would await more data on how demand pans out post the gradual re-opening of the economy.

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

Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three-month 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 the Nifty is placed at 9,712.25, followed by 9,610.8. If the index moves up, the key resistance levels to watch out for are 9,929.25 and 10,044.8.

Nifty Bank

The Nifty Bank closed at 19,912.90, down 741.60 points or 3.59 percent. The important pivot level, which will act as crucial support for the index, is placed at 19,611.8, followed by 19,310.7. On the upside, key resistance levels are placed at 20,342.4 and 20,771.9.

Call Options data

Maximum call open interest of 20.91 lakh contracts was seen at 10,000 strike, which will act as crucial resistance in the June series.

This is followed by 10,500, which holds 22.07 lakh contracts, and 10,200 strikes, which has accumulated 13.52 lakh contracts.

Significant call writing was seen at 10,500, which added 2.64 lakh contracts, followed by 10,200 that added 2.41 lakh contracts and 9,800 strikes, which added 1.9 lakh contracts.

Call unwinding was witnessed at 9,600, which shed 45,525 contracts, followed by 9,100 strikes, which shed 26,250 contracts.

Put Options data

Maximum put open interest of 29.78 lakh contracts was seen at 9,500 strike, which will act as crucial support in the June series.

This is followed by 9,600, which holds 24.02 lakh contracts, and 9,900 strikes, which has accumulated 21.91 lakh contracts.

Significant put writing was seen at 9,400, which added 1.23 lakh contracts, followed by 9,700 strikes, which added 1.04 lakh contracts.

Put unwinding was seen at 9,900, which shed 1.69 lakh contracts, followed by 10,000, which shed 1.22 lakh contracts and 10,100 strikes, which shed 0.52 lakh contracts.

Stocks with a high delivery percentage

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

12 stocks saw long build-up

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

65 stocks saw long unwinding

61 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 the OI future percentage, here are the top 10 stocks in which short build-up was seen.

7 stocks witnessed short-covering
A decrease in OI, along with an increase in price, mostly indicates a short-covering. Based on the OI future percentage, here are the stocks in which short-covering was seen.

Bulk deals

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Results on June 16

HPCL, NMDC, Ashiana Housing, Bhansali Engineering Polymers, Bliss GVS Pharma, Globus Spirits, Ipca Laboratories, Bank of Maharashtra, Manali Petrochemical, Navin Fluorine International and Schneider Electric Infrastructure.

Stocks in the news

Tata Motors: Q4 loss at Rs 9,894.25 crore versus profit at Rs 1,117.5 crore, revenue at Rs 62,493 crore versus Rs 86,422 crore YoY.

HCL Infosystems: Q4 loss at Rs 70.94 crore versus loss Rs 43.90 crore, revenue at Rs 227.7 crore versus Rs 875.60 crore YoY.

Narayana Hrudayalaya: Q4 profit at Rs 11.96 crore versus Rs 37.15 crore, revenue at Rs 743 crore versus Rs 765 crore YoY.

Shilpa Medicare: Q4 profit at Rs 34.57 crore versus Rs 23.88 crore, revenue at Rs 220 crore versus Rs 199.51 crore YoY.

Gujarat Industries Power: Q4 profit at Rs 61.92 crore versus Rs 162.84 crore, revenue at Rs 342.50 crore versus Rs 364.2 crore YoY.

Shalby: Q4 loss at Rs 17.1 crore versus Rs 3.3 crore, revenue at Rs 108.88 crore versus Rs 113.5 crore YoY.

Ind-Swift Laboratories to launch API - Fexofenadine, an antihistamine drug in the US market.

Can Fin Homes: Q4 profit at Rs 90.91 crore versus Rs 66.14 crore, revenue at Rs 528.85 crore versus Rs 462.93 crore YoY.

Jump Networks: US-based technology investment group to infuse substantial equity funds in company.

Fund flow

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 2,960.33 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,076.38 crore in the Indian equity market on June 15, provisional data available on the NSE showed.

Stock under F&O ban on NSEFour stocks - Adani Enterprises, BHEL, Vodafone Idea and Just Dial - are under the F&O ban for June 16. 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.