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Last Updated : Mar 12, 2019 09:17 PM IST | Source: Moneycontrol.com

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

Option band signifies a shift in higher trading range between 11,150 to 11,450 zones, experts said.

Sunil Shankar Matkar

Sensex continued its surge for the second consecutive session, ending 481.56 points higher at 37,535.66 on March 12.

The Nifty50 rallied 133.15 points to 11,301.20 and formed a strong bullish candle on the daily charts.

"The short term trend of Nifty is sharply up. We are witnessing a type of euphoric upmove post upside breakout of three months long range," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.

The next upside levels to be watched is 11,450, which could be achieved in the next few sessions, he said.

India VIX closed higher after the declines of last seven trading sessions. It was moved up by 1.33 percent to 15.09 levels.

Option band signifies a shift in higher trading range between 11,150 to 11,450 zones, experts said.

"As long as index is trading above bullish gap placed between 11,168-11,231 levels, we maintain buy on dip strategy, while a close below the strong support of 11,160 will change the current bullish sentiment," said Shabbir Kayyumi, Head of Technical Research at Narnolia Financial Advisors.

The BSE Midcap index gained 0.65 percent and Smallcap index rose 1.07 percent amid positive breadth.

We have collated top 10 data points to help you spot profitable trades:

Key support and resistance level for Nifty

The Nifty closed at 11,301.20 on March 12. According to Pivot charts, the key support level is placed at 11,245.33, followed by 11,189.47. If the index starts moving upward, key resistance levels to watch out are 11,338.73 and 11,376.27.

Nifty Bank

The Nifty Bank index closed at 28,443.70, up 477.05 points on March 12. The important Pivot level, which will act as crucial support for the index, is placed at 28,227.9, followed by 28,012.1. On the upside, key resistance levels are placed at 28,573.8, followed by 28,703.9.

Call Options Data

Maximum Call open interest (OI) of 22.58 lakh contracts was seen at the 11,400 strike price. This will act as a crucial resistance level for the March series.

This was followed by the 11,500 strike price, which now holds 21.27 lakh contracts in open interest, and 11,300, which has accumulated 19.82 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 11,600, which added 4.29 lakh contracts, followed by 11,700 strike, which added 1.34 lakh contracts, and 11,800 strike, which added 1.1 lakh contracts.

Call unwinding was seen at the strike price of 11,100 that shed 3.64 lakh contracts, followed by 11,000 strike that shed 1.81 lakh contracts and 11,200 strike which shed 1.5 lakh contracts.

Image412032019

Put Options Data

Maximum Put open interest of 39.32 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for the March series.

This was followed by the 10,800 strike price, which now holds 23.71 lakh contracts in open interest, and the 11,200 strike price, which has now accumulated 20.05 lakh contracts in open interest.

Put writing was seen at the strike price of 11,200, which added 8.82 lakh contracts, followed by 11,300 strike that added 6.37 lakh contracts and 11,100 strike that added 4.17 lakh contracts.

Put unwinding was seen at the strike price of 10,900 that shed 1.74 lakh contracts.

Image512032019

FII & DII data

Foreign Institutional Investors (FIIs) bought shares worth Rs 2,477.72 crore while Domestic Institutional Investors sold Rs 990.48 crore worth of shares in the Indian equity market on March 12, as per provisional data available on the NSE.

Fund flow picture

Image612032019

Stocks with a high delivery percentage

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

Image712032019

50 stocks saw a long buildup

Image812032019

72 stocks saw short covering

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

Image912032019

42 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.

Image1012032019

35 stocks saw long unwinding

Image1112032019

Bulk Deals on March 12

NSE

Keerti Know & Skill: Mandeep Tradelink Private Limited purchased 20,000 shares of the company at Rs 83 per share.

Reliance Communications: Rattanindia Finance Private Limited sold 1,51,00,000 shares of the company at Rs 5.25 per share.

BSE

A-1 Acid: Ansu Investment bought 1,52,000 shares of the company at Rs 57.34 per share.

Upsurge Investment Finance: Gagan Deep Multitrade Private Limited bought 1,91,225 shares of the company at Rs 14.83 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Procter & Gamble Hygiene and Health Care: Company's officials will meet SBI Mutual Fund and LIC on March 13.

Titan Company: Company's officials will meet Elo Mutual Pension Insurance Company, Finland and Genesis Investment Management, LLP in Bangalore on March 13.

Kiri Industries: Management of the company will be attending the Valorem Analyst Conference 2019, organised by Valorem Advisors to be held on March 13.

Mishra Dhatu Nigam: Board meeting is scheduled on March 16 to consider payment of 1st interim dividend for the FY2018-19.

Jindal Stainless: Company's officials will meet analysts/investors on March 13 and 14.

Shriram City Union Finance: Company's officials will meet JM Financial Institutional Securities Ltd on March 18.

Cipla: Company's officials will meet fund houses / investors on March 13, 15, 26 and 27.

Lakshmi Vilas Bank: Board meeting is scheduled on March 15 to consider the issue price of the equity shares to be allotted to QIBs in the QIP, including a discount if any.

Eicher Motors: Company's officials will meet IDFC Mutual Fund and Marshall Wace Global Opportunities on March 13, Columbia Threadneedle Investment on March 14, and Pari Washington Company Advisors on March 15.

HDFC Bank: Board meeting is scheduled on April 20 to consider the audited financial results for the quarter and year ending March 2019 and recommendation of dividend, if any.

Voltas: Company's officials will meet analysts/institutional investors on March 13.

Stocks in news

Majesco: USA subsidiary announces Norman Carroll as Managing Director of European operations

NMDC: Board of directors declared an interim dividend at the rate of Rs 5.52 per share of face value of Re 1 each for the financial year 2018-19.

Avenue Supermarts: Company has issued commercial paper of Rs 100 crore.

Raymond: Company terminated development management agreement with Colorplus Realty Limited for developing its realty project - 'Raymond Realty Phase I' and in order to gain better operational efficiencies and control on the project, it intends to undertake the development on its own.

CMI: Company executed its maiden export order from Mauritius for the supply of XLPE LV/HV underground power cables from the company's plant located at Baddi- Himachal Pradesh.

Axis Bank: Board approved the appointment of Rakesh Makhija, Independent Director as the Non-Executive (Part-time) Chairman of the bank, for a period of 3 years.

TVS Motor: Company has further invested a sum of Rs 30 crore in TVS Credit Services Limited, a subsidiary company. Company’s direct holding in TVS CS increased to 10.29 percent.

Kajaria Ceramics: Board approved re-appointment of Raj Kumar Bhargava and Debi Prasad Bagchi as the independent directors.

Kalpataru Power Transmission: Company has completed the acquisition of Shree Shubham Logistics shares.

V-Mart Retail: Company has opened three new stores in Himachal Pradesh, Jharkhand and Uttar Pradesh respectively. This takes the total number of stores to 207 stores in 165 cities across 17 states.

Hindustan Fluorocarbons: Board approved the valuation report and sale of the 66 acres 13 gunthas of vacant surplus land of company subject to the approval of the shareholders, Govt of India and Govt of Telangana/TSIIC.

Orient Tradelink: Company announces a new film which will be based on Para Cricketers of India.

Advanced Enzyme Technologies: Promoter Chandrakant Rathi Innovations and Projects Pvt Ltd sold another 2.20 percent stake in the company and reduced shareholding to 14.67 percent.

Keerthi Industries: Company successfully awarded the onshore contract area of KG/ONDSF/Gokarnapuram/2018 in KG basin under the Discovered Small Field Bid Round — II of offer contract areas.

Four 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 March 13, IDBI Bank, Reliance Infrastructure, Reliance Power and Jet Airways are present in this list.
First Published on Mar 12, 2019 08:59 pm
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