Moneycontrol
Last Updated : Aug 08, 2018 07:44 AM IST | Source: Moneycontrol.com

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

Maximum call open interest (OI) of 38.53 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for August series.

Sunil Shankar Matkar

After opening higher Tuesday, the Nifty 50 ended flat but not before hitting a fresh intraday record high. It also made a fresh closing high.

The index formed a bearish candle on the daily charts as the closing price is lower than the opening price.

The Sensex, however, ended 26.09 points lower at 37,665.80 and even the broader markets closed in the red with the Nifty Midcap index falling 0.3 percent. The sectoral trend was mixed.

The Nifty50 after opening above 10,400 levels hit a fresh record high of 11,428.95 on intraday basis but erased gains in late morning deals to touch a day's low of 11,359.70. Overall the index remained rangebound for major part of the session and managed to close in the green with 2.40-point gain at 11,389.50.

"It appears to be another day of consolidation on the bourses as Nift50 remained rangebound inside 70-point boundary before signing off the session with a bearish candle on intraday basis but interestingly remained mildly positive for last two trading sessions on closing price basis. This is clearly suggesting that traders are clueless at higher levels about the direction of the market," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

Hence only a decisive breakout above 11,500 levels shall instill more confidence among them owing to which they can march ahead for bigger targets, he said. "Till then bulls are advised to remain cautiously optimistic and to shift their focus on stock specific opportunities."

On the down sides if indices trade below 11,359 in next session for atleast one hour then correction shall get extended initially towards 11,280, he feels.

India VIX fell by 0.13 percent at 12.54. Overall lower volatility suggests that bulls are likely to hold the market on declines.

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

Key support and resistance level for Nifty

The Nifty closed at 11,389.50 on Tuesday. According to Pivot charts, the key support level is placed at 11,356.47, followed by 11,323.43. If the index starts moving upwards, key resistance levels to watch out are 11,425.77 and 11,462.03.

Nifty Bank

The Nifty Bank index closed at 27,875.90, down 22.60 points on Tuesday. The important Pivot level, which will act as crucial support for the index, is placed at 27,806.07, followed by 27,736.23. On the upside, key resistance levels are placed at 27,966.96, followed by 28,058.03.

Call Options Data

Maximum call open interest (OI) of 38.53 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for August series.

This was followed by the 11,400 strike price, which now holds 28.45 lakh contracts in open interest, and 11,600, which has accumulated 24.75 lakh contracts in open interest.

Call writing was seen at the strike price of 11,500, which added 3.95 lakh contracts, followed by 11,600 which added 3.23 lakh contracts and 11,400 which added 1.99 lakh contracts.

Call unwinding was seen at the strike price of 11,000, which shed 0.61 lakh contracts, followed by 11,300, which shed 0.45 lakh contracts.

Image807082018

Put Options data

Maximum put open interest of 51.17 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for August series.

This was followed by the 11,200 strike price, which now holds 42.28 lakh contracts in open interest, and the 11,300 strike price, which has now accumulated 32.95 lakh contracts in open interest.

Put writing was seen at the strike price of 11,400 which added 2.61 lakh contracts, followed by 11,200 which added 2.10 lakh contracts and 11,300 which added 1.34 lakh contracts.

Put unwinding was seen at the strike price of 11,100 which shed 1.43 lakh contracts.

Image907082018

FII & DII data

Foreign institutional investors (FIIs) bought shares worth Rs 314.83 crore while domestic institutional investors sold shares worth Rs 319.9 crore in the Indian equity market on Tuesday, as per provisional data available on the NSE.

Fund Flow Picture:

Image1507082018

Stocks with high delivery percentage:

High delivery percentage suggests that investors are accepting delivery of the stock, which means that investors are bullish on it.

Image1007082018

40 stocks saw long buildup

Image1107082018

33 stocks saw short covering

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

Image1207082018

71 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.

Image1307082018

61 stocks saw long unwinding

Image1407082018

Bulk Deals

Techno Electric & Engineering Company: ECAP Equities bought 20,00,000 shares of the company at Rs 279.11 per share and 15,00,000 shares at Rs 277.47 per share while JP Financial Services sold 19,99,900 shares at Rs 279.11 per share and 14,99,900 shares at Rs 277.47 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Vista Pharmaceuticals: The meeting of the board of directors of the company is scheduled on August 13 to approve June quarter results.

Birla Precision Technologies: The meeting of the board of directors of the company is scheduled on August 14 to approve June quarter results.

Petron Engineering Construction: The meeting of the board of directors of the company is scheduled on August 14 to approve June quarter results.

Karuturi Global: The meeting of the board of directors of the company is scheduled on August 14 to approve June quarter results.

Zicom Electronic Security Systems: The meeting of the board of directors of the company is scheduled on August 14 to approve June quarter results.

Man Infraconstruction: The meeting of the board of directors of the company is scheduled on August 14 to approve June quarter results.

Filatex Fashions: The meeting of the board of directors of the company is scheduled on August 14 to approve June quarter results.

Wanbury: The meeting of the board of directors of the company is scheduled on August 10 to approve June quarter results.

Star Cement: Company is participating in investor meetings on August 8 and 9, 2018.

Puravankara: Conference call is scheduled to be held on August 10 to discuss the financial results of the company.

Motherson Sumi Systems: The management of company will be attending Conference(s) on August 9 and August 10, 2018.

Majesco: Conference call with Emkay Global Financial Services is scheduled to be held on August 10.

Crompton Greaves Consumer Electricals: Conference call with Blackrock AM, HK is scheduled to be held on August 8.

Skipper: Company proposes to hold a conference call with interested shareholders/investors/analyst on August 10.

APL Apollo Tubes: Conference call with investors and analyst to be held on August 10.

Larsen & Toubro Infotech: Conference/Investor Meetings to be held on August 9, August 23-24 and August 29.

Mahindra Logistics: Meetings/conference with analysts/institutional investors are scheduled to be held on August 8, August 9, August 13 and August 14.

Pennar Engineered Building Systems: Investor/analyst conference call to be held on August 16.

ACC: Company is meeting Northern Cross, USA for investor meeting August 8.

Thyrocare Technologies: 18th Annual General Meeting of the company is postponed to September 1.

Stocks in news

Results on Wednesday: BPCL, Cipla, HPCL, Lupin, Siemens India, NMDC, Indian Bank, NALCO, BEML, Strides Shasun, Hindustan Construction Company, City Union Bank, Natco Pharma, Thermax, Blue Star, Punjab & Sind Bank, Balrampur Chini, Aditya Birla Capital, PNB Housing Finance, Trent, Bombay Burmah Trading Corporation, Minda Industries, Phoenix Mills, Future Consumer, Sundaram Clayton, APL Apollo Tubes, EID Parry India, Rashtriya Chemicals and Fertilisers, Ratnamani Metals, Nesco, Forbes & Company, Minda Corporation, Jamna Auto, Goodyear, Greenply Industries, Shree Renuka Sugars, Igarashi Motors India, Meghmani Organics, Gabriel India, Quick Heal, BLS International, Hikal, Shriram EPC Indian Hume, INEOS Styrolution, S Chand and Company, UFO Moviez, Kokuyo Camlin, Siti Network, 8K Miles, Sadbhav Infra, Gujarat Borosil, Manali Petrochemicals, Pricol, Man Industries, Indian Terrain Fashions, Stylam Industries, Centum Electronic, TD Power Systems, AksharChem (India), Gokaldas Exports, Selan Exploration Technology, Swelect Energy Systems, Asahi Songwon Colors, Kanoria Chemical, GeeCee Ventures, Hitech Corporation, Kopran, NDTV, Kirloskar Electric, 20 Microns, Apollo Pipes, Ganesh Benzoplast, Kirloskar Pneumatic, Yuken India.

Kalpataru Power Transmission: Q1 profit rises to Rs 81.04 crore versus Rs 70.45 crore; revenue jumps to Rs 1,324.93 crore versus Rs 1169.59 crore (YoY).

Mphasis: Q1 consolidated net profit increases 8.7 percent to Rs 258.3 crore versus Rs 237.6 crore; revenue rises 4.3 percent to Rs 1,820.2 crore versus Rs 1,744.5 crore (QoQ).

Dhampur Sugar Mills: Q1 profit falls to Rs 31.66 crore versus Rs 62.63 crore; revenue slips to Rs 734.40 crore versus Rs 850.32 crore (YoY).

Inox Wind: Q1 profit at Rs 10.37 crore versus loss of Rs 39.02 crore; revenue jumps to Rs 430.45 crore versus Rs 105.99 crore (YoY).

Lovable Lingerie: Q1 profit drops to Rs 4.05 crore versus Rs 6.21 crore; revenue declines to Rs 54.89 crore versus Rs 60.53 crore (YoY).

Accel Frontline: Q1 profit jumps to Rs 3.24 crore versus Rs 0.10 crore; revenue rises to Rs 161.87 crore versus Rs 142.81 crore (YoY).

Gulf Oil Lubricants India: Q1 profit rises to Rs 40.13 crore versus Rs 34.28 crore; revenue jumps to Rs 390.36 crore versus Rs 280.05 crore (YoY).

Nectar Lifesciences: Q1 profit increases to Rs 13.20 crore versus Rs 10.39 crore; revenue spikes to Rs 532.73 crore versus Rs 317.81 crore (YoY).

Prataap Snacks: Q1 profit rises to Rs 10.39 crore versus Rs 9.76 crore; revenue jumps to Rs 268.61 crore versus Rs 225.35 crore (YoY).

SRF: Q1 profit increases to Rs 1.34 crore versus Rs 1.04 crore; revenue rises to Rs 17.41 crore versus Rs 12.93 crore (YoY).

Shriram Asset Management Company: Q1 profit rises to Rs 41.10 lakh versus Rs 23.42 lakh; total income rises to Rs 1.48 crore versus Rs 0.91 crore (YoY).

GAIL India: The High Court Gujarat dismissed the petitions filed by the Gujarat Sales Tax Department which has raised a demand of Rs 3,449.18 crore and interest thereon Rs 1,513. 04 crore in respect ofH azira unit in Gujarat, treating the transfer of natural gas from the State of Gujarat to other states, as inter-state sales, during the periodfrom April 1994 to March 2001.

Patel Engineering: The civil construction company has bagged two hydro projects worth Rs 1793.5 crore and a tunnel project worth Rs 618.21 crore.

GOCL Corporation: Company received order from Singareni Collieries Company Limited, a PSU of Telangana state, worth Rs 203.09 crore for supply of explosives and accessories over a period of 2 years.

Butterfly Gandhimathi Appliances: Board of directors accepted resignation of Prakash Iyer as Chief Executive Officer of the company. Board also decided to immediately start the process for selection of new CEO.

Beekay Niryat: Board recommended issue of bonus equity shares in the proportion of 1:1.

4 stocks under ban period on NSE

Securities in ban period for the next day's trade under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.

For August 8, Adani Enterprises, Adani Power, Jet Airways and Punjab National Bank are present in this list.

Track Chhattisgarh Assembly Elections Results Live Updates here
Track Madhya Pradesh Assembly Elections Results Live Updates here
Track Mizoram Assembly Elections Results Live Updates here
Track Rajasthan Assembly Elections Results Live Updates here
Track Telangana Assembly Elections Results Live Updates here
First Published on Aug 8, 2018 07:36 am
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant