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Last Updated : Mar 03, 2020 09:07 PM IST | Source: Moneycontrol.com

Trade Setup for Wednesday: Top 14 things to know before Opening Bell

Key support level for Nifty is placed at 11,189.8, followed by 11,076.3. If the index moves up, key resistance levels to watch out for are 11,379.5 and 11,455.7.

Benchmark indices snapped a seven-day losing streak on March 3 after various central banks hinted policy initiatives to counter the economic slowdown in their respective countries.

Sensex rose 480 points to end at 38,623.70 while Nifty jumped 171 points to close at 11,303.30.

The Reserve Bank of India (RBI) said it is "monitoring global and domestic developments closely and continuously".

Close

"The fall got arrested after RBI said that it is closely monitoring global as well as the domestic situation and is ready to take necessary action to ensure the orderly functioning of financial markets. Global markets also rallied on hopes of stimulus from policymakers to lessen the impact of coronavirus on their economies," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

We have collated 14 data points to help you spot profitable trades:

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

Key support and resistance level for Nifty

According to the pivot charts, the key support level for Nifty is placed at 11,189.8, followed by 11,076.3. If the index moves up, key resistance levels to watch out for are 11,379.5 and 11,455.7.

Nifty Bank

Nifty Bank closed 1.07 percent up at 29,177.05. The important pivot level, which will act as crucial support for the index, is placed at 28,856.03, followed by 28,534.96. On the upside, key resistance levels are placed at 29,391.73 and 29,606.37.

Call options data

Maximum call open interest (OI) of 16.63 lakh contracts was seen at the 11,800 strike price. It will act as a crucial resistance level in the March series.

This is followed by 11,700 strike price, which holds 15.64 lakh contracts in open interest, and 11,500, which has accumulated 15.12 lakh contracts in open interest.

Significant call writing was seen at the 11,300 strike price, which added 4.79 lakh contracts, followed by 11,400 strike price that added 3.9 lakh contracts and 11,700 strike price, which added 3.27 lakh contracts.

Minor call unwinding was witnessed at 10,900 strike price, which shed 825 contracts.

Image 1

Put options data

Maximum put open interest of 25.24 lakh contracts was seen at 11,000 strike price, which will act as crucial support in the March series.

This is followed by 11,300 strike price, which holds 18.9 lakh contracts in open interest, and 11,700 strike price, which has accumulated 18.4 lakh contracts in open interest.

Put writing was seen at the 11,200 strike price, which added 5.67 lakh contracts, followed by 11,000 strike, which added 3.45 lakh contracts.

Put unwinding was seen at 11,800 strike price, which shed 3.57 lakh contracts, followed by 11,500 strike price which shed 71,400 contracts.

Image 2

Stocks with a high delivery percentage

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

High delivery

75 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

3 stocks saw long unwinding

Long unwinding

3 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 buildup

63 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)

Board meetings

The respective boards of Hester Biosciences, Mahesh Developers and Transgene Biotek will meet on March 4 for general purposes.

The respective boards of Adani Ports, Amines & Plasticizers, Caplin Point Laboratories, Chambal Fertilisers, Cupid, Deepak Nitrite, Gini Silk Mills, Greenlam Industries, Kalpataru Power Transmission, Kirloskar Pneumatic Company and Resonance Specialities will meet on March 4 to consider and approve interim dividends.

Stocks in news

Infosys: The company got an order from K+S AG to set up hybrid cloud data centres.

Kolte Patil: NCLT approved scheme of the merger by absorption of Bellflower Properties with the company.

Max Financial: The company will issue 7.54 crore shares to Mitsui Sumitomo at Rs 565.11 per share.

HAL: The company got the International Court of Arbitration notice on request for arbitration from RUAG Aerospace.

NBCC: NCLT approved the company's bid for Jaypee Infratech.

Bharti Airtel: The company paid Rs 1,950 crore to government towards deferred spectrum dues, reported PTI.

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 2,415.8 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 3,135.24 crore in the Indian equity market on March 3, provisional data available on the NSE showed.

Fund flow

Fund Flow

 

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First Published on Mar 3, 2020 09:06 pm
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