Shabbir Kayyumi of Narnolia Financial Advisors said Nifty index trading above 10,900 will accelerate the upmove
The late selling pulled market lower for the third consecutive session on the Nifty 50 despite positive global cues and appreciation in the rupee on Tuesday.
The 30-share BSE Sensex fell 241.41 points to close at 36,153.62, dragged by banking & financials, IT and FMCG stocks.
The Nifty 50 shed 57.40 points to 10,831.40 and formed bearish candle on the daily charts.
But the index managed to hold its strong support of lower trend line of a broader rising wedge pattern and 50 DMA placed around 10,817 which suggests there could be pullback rally in coming sessions, experts said.
"Although Nifty is trading in a negative note continuously on the third day, the majority of the momentum oscillators are in the oversold zone, the possibility of a bounce back cannot be ruled out," Shabbir Kayyumi, Head of Technical Research at Narnolia Financial Advisors told Moneycontrol.
Moreover, index trading above Tuesday's high (10,900) will accelerate an up move taking it higher towards 10,985 levels, he said. However, a close below the strong support of 50 DMA (10,817) will push prices lower towards 10,740 levels, he added.
The broader markets outperformed frontliners as the Nifty Midcap index was up 0.05 points and Smallcap index fell 0.33 points.
Among sectors, Nifty Bank, Auto, FMCG and IT indices were down 0.5 to 1 percent while Metal (up 1.57 percent) and Pharma (up 0.76 percent) bucked the trend.
We have collated top 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
The Nifty closed at 10,831.40 on February 12. According to Pivot charts, the key support level is placed at 10,799.83, followed by 10,768.27. If the index starts moving upward, key resistance levels to watch out are 10,886.93 and then 10,942.47.
The Nifty Bank index closed at 27,010.75, down 217.05 points on February 12. The important Pivot level, which will act as crucial support for the index, is placed at 26,904.24, followed by 26,797.67. On the upside, key resistance levels are placed at 27,202.04, followed by 27,393.27.
Call Options Data
Maximum Call open interest (OI) of 39.32 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the February series.
This was followed by the 11,200 strike price, which now holds 28.97 lakh contracts in open interest, and 11,100, which has accumulated 23.98 lakh contracts in open interest.
Meaningful Call writing was seen at the strike of 10,900 which added 4.03 lakh contracts, followed by 11,000 strike which added 3.71 lakh contracts and 11,200 strike which added 1.03 lakh contracts.
Call unwinding was seen at the strike price of 11,300 which shed 3.89 lakh contracts.
Put Options data
Maximum Put open interest of 31.21 lakh contracts was seen at the 10,400 strike price. This will act as a crucial support level for the February series.
This was followed by the 10,700 strike price, which now holds 28.52 lakh contracts in open interest, and the 10,500 strike price, which has now accumulated 24.93 lakh contracts in open interest.
Put writing was seen at the strike price of 10,400, which added 0.63 lakh contracts, followed by 10,500 which added 0.19 lakh contracts and 10,900 which added 0.18 lakh contracts.
Put unwinding was seen at the strike price of 10,600 which shed 2.13 lakh contracts, followed by 11,000 strike which shed 1.78 lakh contracts and 10,700 strike which shed 1.36 lakh contracts.
FII & DII data
Foreign Institutional Investors (FIIs) sold shares worth Rs 466.78 crore and Domestic Institutional Investors sold Rs 122.64 crore worth of shares in the Indian equity market on February 12, as per provisional data available on the NSE.
Fund Flow Picture
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.
54 stocks saw a long buildup
40 stocks saw short covering
A decrease in open interest along with an increase in price mostly indicates short covering.
54 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.
49 stocks saw long unwinding
Bulk Deals on February 12
Mahamaya Steel Industries: Minimax Commerce Private Limited bought 1,00,000 shares of the company at Rs 129.97 per share on the NSE.
Sagardeep Alloys: Siddhi Sureshkumar Shah sold 1,45,000 shares of the company at Rs 99.76 per share on the NSE.
(For more bulk deals, click here)
Analyst or Board Meet/Briefings
Sudarshan Chemical Industries: An interaction with analysts / institutional investors is scheduled on February 14 with IIFL Enterprising India Xth Global Investor Conference at Mumbai.
InterGlobe Aviation: Company has scheduled meetings with institutional investors from February 13 to February 15 in Mumbai.
Indian Energy Exchange: Company's officials will be attending IIFL (Enterprises India Xth Global Investor Conference) on February 13 and meeting Macquarie Capital Securities (India) Private Limited on February 18.
Speciality Restaurants: Company's officials will be meeting Lucky Investment Managers Pvt Ltd on February 14.
SKF India: Company's officials will be meeting Edelweiss India Conference 2019 on February 13.
Majesco: Company's officials will be meeting Edelweiss India Conference 2019 on February 13.
Dr Reddy's Labs: Company's officials will be attending Edelweiss India Conference, 2019 in Mumbai.
Manappuram Finance: Company's officials will be meeting analysts/investors on February 13, 14 and 15.
Just Dial: Representative of the company will attend investors meeting - Edelweiss India Conference 2019 on February 13 at Mumbai.
Astral Poly Technik: Management of the company will participate in the IIFL's 10th Global Investors' Conference on February 13 at Mumbai.
Stocks in news
Results on February 13: Bharat Forge, Reliance Capital, Bosch, Godrej Industries, Sandesh, Shah Alloys, Zenith Exports, Aster DM Healthcare, Kiri Industries, Gufic Biosciences, HPL Electric & Power, Gujarat Raffia Industries, Barak Valley Cements, Fortis Healthcare, GSS Infotech, Aries Agro, Ruchira Papers, Hindustan Composites, Country Club Hospitality & Holidays, Murudeshwar Ceramics, RSWM, Dhunseri Ventures, Rohit Ferro-Tech,
Golden Tobacco, Hubtown, Jindal Worldwide, Harrisons Malayalam, Aarvee Denims & Exports, Modi Rubber, Technocraft Industries (India), Binani Industries, Orchid Pharma, Arcotech, Zenith Birla (India), Commercial Engineers & Body Builders Co, KDDL, Manaksia Coated Metals & Industries, Manaksia Aluminium Company, Electrotherm (India), The Ruby Mills, Garware Technical Fibres,
Gulf Oil Lubricants India, Siti Networks, Compuage Infocom, Spacenet Enterprises India, Oracle Financial Services Software, Gillanders Arbuthnot & Company, Transformers And Rectifiers (India), SP Apparels, Girdharilal Sugar and Allied Industries, Zodiac Clothing Company, Adhunik Industries, NBCC (India), Patspin India, Niraj Ispat Industries, Goldiam International,
Ansal Properties & Infrastructure, Sicagen India, Arcotech, Raj Rayon Industries, Talwalkars Better Value Fitness, Soma Textiles & Industries, Zenith Birla (India), Vardhman Holdings, Take Solutions, A2Z Infra Engineering, Bigbloc Construction, Amit Spinning Industries, Adani Gas, The Grob Tea Company, Gujarat Apollo Industries, HOV Services, Mayur Uniquoters, Igarashi Motors India
Biofil Chemicals & Pharmaceuticals, Adani Transmission, Raj Television Network, Sharda Motor Industries, Veto Switchgears And Cables, Beardsell, Ansal Housing, Bal Pharma, Dharani Sugars & Chemicals, Shree Rama Multi-Tech, Kesar Enterprises, Arcotech, Radaan Mediaworks India, Jagsonpal Pharmaceuticals, Stampede Capital, Cosmo Films, XL Energy, Vascon Engineers, Sangam (India),
Gayatri Highways, Kirloskar Electric Company, Asian Hotels (East), Sree Rayalaseema Hi-Strength Hypo, Viceroy Hotels, The Byke Hospitality, Mcnally Bharat Engineering Company, IVP, Ruchi Soya Industries, Ramky Infrastructure, Mandhana Retail Ventures, SPL Industries, Tamilnadu Telecommunication, Sastasundar Ventures, Greenlam Industries, Prakash Constrowell, Cinevista, Cineline India,
Quick Heal Technologies, Salona Cotspin, Prozone Intu Properties, Vardhman Polytex, MIC Electronics, Schneider Electric Infrastructure, Onelife Capital Advisors, Talwalkars Better Value Fitness, Tantia Constructions, GPT Infraprojects, Career Point, Gujarat Fluorochemicals, Sree Rayalaseema Hi-Strength Hypo, Mukta Arts, Spentex Industries, Indo Rama Synthetics (India),
Xchanging Solutions, Schaeffler India, Lemon Tree Hotels, ARSS Infrastructure Projects, Triveni Engineering & Industries, Alchemist, Gulshan Polyols, Proseed India, Capital Trust, Gujarat Mineral Development Corporation, Kanoria Chemicals & Industries, PNC Infratech, GTN Textiles, Polyplex Corporation, Tamil Nadu Newsprint & Papers, 8K Miles Software Services, Nitesh Estates,
Hindusthan National Glass & Industries, Mercator, Saksoft, Indo-National, Repco Home Finance, Khaitan Electricals, KCP, GSS Infotech, Man Infraconstruction, Kothari Sugars And Chemicals, Gyscoal Alloys, Sanco Industries, Kirloskar Electric Company, Viji Finance
Sun Pharma Q3: Consolidated profit jumps to Rs 1,241.8 crore versus Rs 321.6 crore; revenue rises 16.3 percent to Rs 7,740.2 crore versus Rs 6,653.2 crore YoY.
ADF Foods Q3: Profit increases to Rs 5 crore versus Rs 0.3 crore; revenue rises 15.4 percent to Rs 60.8 crore versus Rs 52.7 crore YoY.
Indian Hotels Q3: Profit rises 51 percent to Rs 170 crore versus Rs 112.6 crore; revenue jumps 10.5 percent to Rs 1,323.4 crore versus Rs 1,197.3 crore YoY.
Lux Industries Q3: Profit surges 31.4 percent to Rs 24.3 crore versus Rs 18.5 crore; revenue rises 1 percent to Rs 283.5 crore versus Rs 280.8 crore YoY.
Bata India Q3: Profit spikes 51.4 percent to Rs 103.2 crore versus Rs 68.1 crore; revenue rises 5.5 percent to Rs 778.7 crore versus Rs 674 crore YoY.
Oil India Q3: Profit jumps 43.1 percent to Rs 1,233.4 crore versus Rs 862 crore; revenue falls 6.1 percent to Rs 3,514 crore versus Rs 3,743.6 crore QoQ.
Asian Granito Q3: Profit falls to Rs 5 crore versus Rs 12.9 crore; revenue rises to Rs 296.2 crore versus Rs 263.8 crore YoY.
RCF Q3: Profit jumps to Rs 49.9 crore versus Rs 17.9 crore; revenue up 19.5 percent at Rs 2,353.5 crore versus Rs 1,969 crore YoY.
Natco Pharma Q3: Consolidated profit dips 25.4 percent to Rs 162 crore versus Rs 217.3 crore; revenue falls 1.6 percent to Rs 531.9 crore versus Rs 540.3 crore YoY.
TCI Q3: Profit increases 7.2 percent to Rs 29.9 crore versus Rs 27.9 crore; revenue rises 19.3 percent to Rs 662.4 crore versus Rs 555.3 crore QoQ.
Lovable Lingerie Q3: Profit falls to Rs 2.07 crore versus Rs 2.27 crore; revenue rises to Rs 50.7 crore versus Rs 39.8 crore YoY.
Alembic Pharmaceuticals: Company gets USFDA approval for Fenofibrate tablets.
Religare Enterprises Q3: Loss at Rs 10.32 crore versus loss Rs 45.09 crore; revenue falls to Rs 0.77 crore versus Rs 2.25 crore YoY.
Prestige Estates Projects Q3: Profit dips to Rs 58.1 crore versus Rs 89.4 crore; revenue declines to Rs 1,077.6 crore versus Rs 1,272.3 crore YoY.
Bharat Road Network Q3: Profit falls to Rs 4.95 crore versus Rs 10.88 crore; revenue dips to Rs 2.88 crore versus Rs 3 crore YoY.
DHFL: Vijaya Sampath expressed her desire to resign from the position of an Independent Director due to personal reasons.
Jain Irrigation Systems Q3: Consolidated profit jumps to Rs 82.42 crore versus Rs 66.98 crore; revenue rises to Rs 2,038 crore versus Rs 1,865.64 crore YoY.
Pennar Industries Q3: Consolidated profit rises to Rs 13.70 crore versus Rs 13.25 crore; revenue jumps to Rs 567.63 crore versus Rs 415 crore YoY.
Zenith Birla India: Company entered in to one time settlement with Invent Assets Securitisation & Reconstruction Pvt. Ltd (loan assigned by State Bank of India) against the credit facilities availed by the company.
NLC India Q3: Profit rises to Rs 329.5 crore versus Rs 313.80 crore; revenue increases to Rs 1,873.82 crore versus Rs 1,706.5 crore YoY.
Sadbhav Infrastructure Project Q3: Loss at Rs 28 crore versus Rs 39.8 crore; revenue rises to Rs 955 crore versus Rs 548.6 crore YoY.
Southern Gas: Board appointed Rajeev Nagarsenkar, currently holding the position of accounts manager as the Chief Financial Officer (CFO).
Manpasand Beverages Q3: Profit falls to Rs 9.83 crore versus Rs 12 crore; revenue rises to Rs 163.5 crore versus Rs 143 crore YoY.
Patel Engineering Q3: Profit rises to Rs 28.74 crore versus Rs 6.87 crore; revenue falls to Rs 484.1 crore versus Rs 635.7 crore YoY.
Matrimony.com Q3: Profit falls to Rs 6.8 crore versus Rs 23 crore; revenue rises to Rs 85.3 crore versus Rs 83.7 crore YoY.
Container Corporation of India Q3: Profit dips to Rs 275 crore versus Rs 277 crore; revenue rises to Rs 1,657 crore versus Rs 1,605 crore YoY.
Tata Power Solar: Company launches an extensive residential rooftop solution at Chandigarh.
Kesoram Industries Q3: Loss at Rs 115.35 crore versus loss Rs 43.17 crore; revenue rises to Rs 984 crore versus Rs 883 crore YoY.
3M India Q3: Consolidated profit rises to Rs 110 crore versus Rs 94 crore; revenue increases to Rs 791 crore versus Rs 683 crore YoY.
GTPL Hathway Q3: Consolidated profit dips to Rs 18.55 crore versus Rs 19.5 crore; revenue rises to Rs 314.5 crore versus Rs 278.4 crore YoY.
C & C Constructions Q3: Consolidated loss at Rs 8.4 crore versus profit Rs 10.2 crore; revenue falls to Rs 239.8 crore versus Rs 275.2 crore YoY.
Shakti Pumps (India) Q3: Consolidated profit falls to Rs 12.6 crore versus Rs 16.67 crore; revenue rises Rs 152 crore versus Rs 148 crore YoY.
L&T Technology Services: A client of company, in the telecom & hitech reporting segment, has decided to assume ownership of engineering for their core product. Other engagements with this client continue and LTTS is in discussions to partner with the client in multiple adjacent areas, as they look to invest and expand their business. Company reaffirms its FY19 revenue guidance and its expectation of mid-teens revenue growth in FY20 in USD terms.
DQ Entertainment (International) Q3: Consolidated loss at Rs 29 crore versus loss Rs 17.74 crore; revenue rises to Rs 69.72 crore versus Rs 23.95 crore YoY.
Transport Corporation of India Q3: Profit rises to Rs 30 crore versus Rs 28 crore; revenue increases to Rs 662.5 crore versus Rs 555.3 crore YoY.
Six stocks under ban period on NSE
Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.For February 13, Adani Enterprises, Jet Airways, Reliance Capital, Reliance Power, DHFL and IDBI Bank stocks are present in this list.The Great Diwali Discount!
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