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

Trade Setup for Monday: Top 15 things to know before Opening Bell thumbnail
A steep sell-off swept Dalal Street, forcing equity indices to settle with deep cuts on March 6 after the Reserve Bank of India (RBI) placed Yes Bank under a moratorium.Weak global cues fanned by coronavirus fears persisted, making the situation worse. Most Asian and European markets suffered big losses as concerns over the economic fallout of the virus…

A steep sell-off swept Dalal Street, forcing equity indices to settle with deep cuts on March 6 after the Reserve Bank of India (RBI) placed Yes Bank under a moratorium.Weak global cues fanned by coronavirus fears persisted, making the situation worse. Most Asian and European markets suffered big losses as concerns over the economic fallout of the virus roiled sentiment.”We continue to maintain our cautious view on Indian markets and expect volatility to remain high in the near-term. The updates on coronavirus would be the single biggest factor dictating global markets going forward. On the domestic front, updates on the resolution plan for Yes Bank along with the spread of coronavirus cases would be actively tracked by traders and investors,” said Ajit Mishra, VP-Research, Religare Broking.For the week, the Sensex lost 721 points, or nearly 2 percent, while the Nifty retreated 212 points or nearly 2 percent.We have collated 15 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 NiftyAccording to the pivot charts, the key support level for Nifty is placed at 10,866.23, followed by 10,742.97. If the index moves up, key resistance levels to watch out for are 11,073.93 and 11,158.37.Nifty BankThe important pivot level, which will act as crucial support for the index, is placed at 27,293.4, followed by 26,785.4. On the upside, key resistance levels are placed at 28,178.3 and 28,555.2.Call options dataMaximum call open interest (OI) of 17.81 lakh contracts was seen at the 11,500 strike price. It will act as a crucial resistance level in the March series. This is followed by 11,700 strike price, which holds 16.40 lakh contracts in open interest, and 11,300, which has accumulated 15.52 lakh contracts in open interest.Significant call writing was seen at the 11,000 strike price, which added 4.86 lakh contracts, followed by 10,900 strike price that added 3.28 lakh contracts.Call unwinding was witnessed at 11,600 strike which shed 1.29 lakh contracts.Put options dataMaximum put open interest of 20.60 lakh contracts was seen at 10,500 strike price, which will act as crucial support in the March series. This is followed by 10,900 strike price, which holds 14.30 lakh contracts in open interest, and 10,800 strike price, which has accumulated 8.9 lakh contracts in open interest.Put writing was seen at the 10,300 strike price, which added 3.07 lakh contracts, followed by 10,200 strike, which added 2.46 lakh contracts.Put unwinding was seen at 11,200 strike price, which shed 3.97 lakh contracts, followed by 10,600 strike price which shed 1.45 lakh contracts.Stocks with a high delivery percentageA high delivery percentage suggests that investors are showing interest in these stocks.4 stocks saw long build-upBased on open interest (OI) future percentage, here are the stocks in which long build-up was seen.60 stocks saw long unwinding73 stocks saw short build-upAn increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions. Based on open interest (OI) future percentage, here are the top 10 stocks in which short build-up was seen.8 stocks witnessed short-coveringA decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on open interest (OI) future percentage.Bulk deals(For more bulk deals, click here)Key corporate actions taking place on March 9Stocks in newsYES Bank: The Enforcement Directorate (ED) arrested Yes Bank’s former MD & CEO Rana Kapoor. The ED questioned him for almost 30 hours before arresting him. Rana Kapoor was arrested by ED on charges of money laundering under PMLA Act.BPCL: The government on March 7 has invited bids for the sale of its entire 52.98 percent stake in Bharat Petroleum Corporation (BPCL). Expressions of Interest (EoI) for the strategic sale of BPCL were invited by May 2, as per the bid document from the Department of Investment and Public Asset Management (DIPAM). The last date for investor queries is April 4.Natco Pharma: US FDA issued single observation to its Hyderabad unitSadbhav Engineering: Promotor created pledge on 1.29 lakh shares on February 29FII and DII dataForeign institutional investors (FIIs) sold shares worth Rs 3,594.84 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 2,543.78 crore in the Indian equity market on March 6, provisional data available on the NSE showed.Fund flowStock under F&O ban on NSENo stock is under the F&O ban for March 9. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!
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