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Last Updated : Mar 20, 2019 09:14 AM IST | Source: Moneycontrol.com

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

Bulls continued to retain upper hand as Nifty50 registered a positive close for seventh session in a row before signing off the day with a 'Hanging Man' kind of indecisive formation," says Mazhar Mohammad of Chartviewindia.in.

Rakesh Patil

A bull run continued on Dalal Street with benchmark indices finishing higher for the seventh consecutive day and Nifty closing above 11,500 level.

The Sensex ended up 268.40 points at 38,363.47, while Nifty was up 70.20 points at 11,532.40.

"Nifty is trading higher on the 7th consecutive day and it has managed to close above the 11,500 psychological mark, which indicates bulls are having an upper hand, said Shabbir Kayyumi, Head of Technical Research, Narnolia Financial Advisors.

Although Nifty has closed near the highs, breaching of ascending trend line standing around 11,480 levels on lower time frame will be an early sign of a reversal of current bullish sentiment and a confirmation will come only below 11,430. Until then, the index can continue its rally towards 11,600 marks, he added.

A consistent rally has brought the market to overbought levels and so the upside from here looks limited, experts said, adding a correction or sideways trade could be possible in coming sessions.

"Bulls continued to retain upper hand as Nifty 50 registered a positive close for the seventh session in a row before signing off the day with a 'Hanging Man' kind of indecisive formation," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

He said despite weak price behaviour of the last couple of sessions trading remained positively biased as Nifty continued to make new swing highs on a daily basis.

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

Key support and resistance level for Nifty

The Nifty closed at 11,532.4 on March 19. According to the Pivot charts, the key support level is placed at 11,474.47, followed by 11,416.53. If the index starts moving upward, key resistance levels to watch out are 11,567.7 and 11,601.73.

Nifty Bank

The Nifty Bank index closed at 29,767.85, up 171.75 points on March 19. The important Pivot level, which will act as crucial support for the index, is placed at 29,610.4, followed by 29,453. On the upside, key resistance levels are placed at 29,862.5, followed by 29,957.2.

Call options data

Maximum Call open interest (OI) of 26.16 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for the March series.

This was followed by the 11,600 strike price, which now holds 17.39 lakh contracts in open interest, and 11,700, which has accumulated 16.11 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 11,800, which added 1.77 lakh contracts, followed by 11,000 strike, which added 1.53 lakh contracts.

Call unwinding was seen at the strike price of 11,600 that shed 2.79 lakh contracts, followed by 11,400 strike that shed 1.40 lakh contracts and 11,300 strike, which shed 80,100 contracts.

call option

Put options data

Maximum Put open interest of 38.16 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 11,300 strike price, which now holds 25.18 lakh contracts in open interest, and the 11,200 strike price, which has now accumulated 24.87 lakh contracts in open interest.

Put writing was seen at the strike price of 11,500, which added 10.17 lakh contracts, followed by 11,400 strike that added 5.52 lakh contracts and 11,200 strike that added 3.53 lakh contracts.

There were hardly any Put unwinding seen.

put option

FII & DII Data

Foreign Institutional Investors (FIIs) bought shares worth Rs 2,132.36 crore while Domestic Institutional Investors (DIIs) sold Rs 1,253.67 crore worth of shares in the Indian equity market on March 19, as per provisional data available on the NSE.

Fund Flow Picture

Image519032019

Stocks with a high delivery percentage

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

highdeliveyr%

127 stocks saw a long buildup

longbuildup

17 stocks saw short covering

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

shortcovering

43 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.

shortbuildup

11 stocks saw long unwinding

longunwinding

Bulk Deals on March 19

NSE

Agro Phos India: Ambe Securities Private Limited bought 1,45,000 shares of the company at Rs 72.78 per share.

CG Power & Industrial Solutions: Bharti SBM Holdings Private Limited purchased 56,64,181 shares of the company at Rs 46.11 per share.

Keerti Know & Skill: Mandeep Tradelink Private Limited sold 42,000 shares of the company at Rs 70.45 per share.

LEEL Electricals: Alpha Leon Enterprises LLP sold 2,40,000 shares of the company at Rs 21.31 per share.

M K Proteins: Bhavishya Investserve Private Limited purchased 24,000 shares of the company at Rs 77.09 per share.

Man Coat Metal: Palash Machineries Private sold 3,49,183 shares of the company at Rs 6 per share.

Noida Toll Bridge Company: Jaliyan Trading Private Limited bought 13,00,000 shares of the company at Rs 5.35 per share.

Ruchi Soya Industries: Disha Foundation sold 22,48,143 shares of the company at Rs 7.26 per share.

Shaival Reality: Wealth First Portfolio Managers Limited sold 1,08,000 shares of the company at Rs 26.7 per share.

BSE

Bharti Infratel: Promoter Bharti Airtel sold another 15 crore shares of the company to its subsidiary Nettle Infrastructure Investments Limited at Rs 332.25 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

OCL Iron and Steel: Board meeting is scheduled on March 22 to consider issue of equity and convertible/non convertible securities or other equity linked securities along with secured/unsecured loan.

KEI Industries: Company's officials will meet Motilal Oswal Financial Services on March 25.

NOCIL: Investor / Analysts will be visiting the company’s plant at Dahej on March 20.

Tata Steel: Company's officials will meet B&K Securities on March 20.

MT Educare: Company's officials will meet Khambatta Securities on March 20.

Coffee Day Enterprises: Board meeting is scheduled on March 22 to consider the issuance of unlisted, unrated, secured, redeemable, non-convertible debentures (NCDs) for an amount upto Rs 200 crore in one or more tranches. The issue of NCDs is for the purpose of re-financing the existing debt.

S Chand and Company: Company's officials will meet analysts/investors on March 25.

MIRC Electronics: Company's officials will meet analysts on March 20.

Mahindra Lifespace Developers: Company arranged conference call on April 23.

Atlanta Infrastructure and Finance: Board meeting is scheduled on March 27 to consider resignation of Managing Director & CFO Sailesh Mulraj Ved.

Colgate Palmolive (India): Board meeting will be held on March 29 to consider the declaration of dividend (if any).

Welspun Enterprises: Company will be attending Elara Morpheus Investor Conference on March 20.

Stocks in News

 

Muthoot Capital Services: Company completed a securitization transaction of Rs 236.36 crore.

Future Enterprises: Brickwork Ratings India has re-affirmed AA (SO) rating on NCDs with stable outlook.

Cox & Kings: Company owned Meininger opens hotel in Budapest, Hungary.

V-Mart Retail: Company opened a new store in the state of Assam.

Bodal Chemicals: Company starts production at Gujarat plant.

DLF: Company's joint venture with Hines to invest upto Rs 1,900 crore to develop 2.9 million square feet in Udyog Vihar, Gurugram, their second joint venture.

Jet Airways: An additional six aircraft (include one aircraft of Jet Lite (India) Limited) have been grounded due to non-payment of amounts outstanding to lessors under their respective lease agreements.

Himalaya Food International: Board meeting is scheduled on March 25 to discuss the status of OTS (one time settlement) proposal with consortium of Banks led by SBI.

Rallis India: Company announced suspension of operations at Ankleshwar unit due to flash fire during transfer operations.

IDBI Bank: Board approved rupee bond borrowing limit of Rs 4,000 crore to be borrowed in one or more tranches comprising of Basel III compliant Tier II Bonds and Senior Bonds (not more than Rs 1,000 crore) by way of private placement during FY 2019-20.

Viaan Industries: Company agreed to acquire equity stake in Avalance Technology Private Limited (a company proposed to be incorporated under the Companies Act, 2013) for a cash consideration. The said investment upon completion will translate into 50 percen equity stake in Avalance Technology Private Limited on a fully diluted basis.

Newgen Software: Company secured another patent for its invention- Integrated and Automatic Generation of Carbon Credits.

Datamatics Global Services: Company acquired additional 10 percent equity stake in Datamatics Digital Limited (earlier known as Techjini Solutions Private Limited), the subsidiary company.

Fortis Healthcare: Board approved the appointment of Dr Ashutosh Raghuvanshi as Managing Director designating him as MD & CEO of the company.

Adhunik Industries: Bikash Roy Chowdhury has resigned from the post of Chief Financial Officer (CFO) and key managerial personnel (KMP) due to some personal reasons.

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

Rushil Decor: Company intimated fire accident at factory located at Chikmagalur, Karnataka.

Eris Lifesciences: Himanshu Shah, Executive Director of the company has resigned from the membership of the board.

Centrum Capital: Company sold its entire equity holding in its wholly-owned subsidiary company, Centrum Capital Holding LLC alongwith its subsidiary i.e Centrum Securities LLC (step-down subsidiary of CCL).

Seven 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 20, Adani Enterprises, BEML, IDBI Bank, Jet Airways, Just Dial, Reliance Capital and Reliance Power are present in this list.
First Published on Mar 19, 2019 05:38 pm
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