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

Trade Setup for Friday: Top 15 things to know before Opening Bell thumbnail
With coronavirus wreaking havoc across global financial markets, D-Street on March 12 witnessed a historic crash as Sensex registered its biggest one-day fall in absolute terms.The US markets halted trading after falling 7 percent at open on March 12 and when it reopened after 15 minutes of halt, the Dow Jones cracked 8 percent at…

With coronavirus wreaking havoc across global financial markets, D-Street on March 12 witnessed a historic crash as Sensex registered its biggest one-day fall in absolute terms.The US markets halted trading after falling 7 percent at open on March 12 and when it reopened after 15 minutes of halt, the Dow Jones cracked 8 percent at 19:48 hours IST.The 30-share index settled 2,919.26 points or 8.18 percent lower at 32,778.14 while the broader Nifty slumped 868.25 points or 8.30 percent to close at 9,590.15.”Coronavirus has created uncertainty and panic across globe. Next meaningful support on the downside is placed between 8,900-9,100 levels. Till now, important support levels have been breached easily on gap downs. Investors should refrain from catching the falling knife,” Manav Chopra, CMT, Head Research – Equity at Indiabulls Securities, told Moneycontrol.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 9,385.17, followed by 9,180.18. If the index moves up, key resistance levels to watch out for are 9,917.97 and 10,245.78.Nifty BankThe Bank Nifty closed at 23,971.20, down 2,516.60 points or 9.50 percent. The important pivot level, which will act as crucial support for the index, is placed at 23,263.96, followed by 22,556.73. On the upside, key resistance levels are placed at 24,950.76 and 25,930.33.Call options dataMaximum Call open interest (OI) of 18.71 lakh contracts was seen at the 10,000 strike price. It will act as a crucial resistance level in the March series. This is followed by 10,300 strike price, which holds 3.47 lakh contracts in open interest, and 10,200, which has accumulated 3.22 lakh contracts in open interest.Significant call writing was seen at the 10,000 strike price, which added 5.92 lakh contracts, followed by 9,500 strike price that added 3.46 lakh contracts and 10,200 strike which added 2.78 lakh contracts.There was hardly any Call unwinding seen on March 12.Put options dataMaximum Put open interest of 25.45 lakh contracts was seen at 9,500 strike price, which will act as crucial support in the March series. This is followed by 9,000 strike price, which holds 24.84 lakh contracts in open interest, and 9,300 strike price, which has accumulated 5 lakh contracts in open interest.Put writing was seen at the 9,000 strike price, which added 10.91 lakh contracts, followed by 9,500 strike, which added 10.32 lakh contracts and 9,300 strike which added 4.95 lakh contracts.Put unwinding was seen at 10,000 strike price, which shed 7.84 lakh contracts, followed by 10,300 strike price which shed 3.14 lakh contracts and 10,200 strike which shed 1.25 lakh contracts.Stocks with a high delivery percentageA high delivery percentage suggests that investors are showing interest in these stocks.Not a single stock saw long build-upBased on open interest (OI) future percentage, not a single stock witnessed long build-up on March 12.114 stocks saw long unwinding31 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.1 stock 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, here is the stock which witnessed short covering.Bulk deals(For more bulk deals, click here)Analysts/Board MeetingsWockhardt: Meeting of capital raising committee of the board of directors to be held on March 30.NTPC: Board meeting is scheduled to be held at March 19 to consider interim dividend.Punj Lloyd: 13th meeting of committee of creditors is scheduled to be held on March 13.RBL Bank: Board meeting is scheduled on March 17 to consider declaration of interim dividend.Prince Pipes and Fittings: Company’s officials will meet ICICI Prudential Mutual Fund and Equentis Wealth Advisory Services on March 13, and JM Financial Services on March 16.Sun Pharma: Board to consider share buyback on March 17.Stocks in newsYes Bank: SBI said Executive Committee Of Central Board approves purchase of 725 crore shares in Yes bank at Rs 10 per share.Wipro: Company to co-develop solutions with SAP for retail and fashion industry.Escorts: India Ratings revised company’s outlook to stable from positive.Jyothy Labs: Company announced an interim dividend of Rs 3 per share and appointed MR Jyothy as the Managing Director.Cipla: Board approved payment of interim dividend of Rs 3 per share and one-time special dividend of Re 1 per share.NLC India: Company allotted commercial papers of Rs 500 crore to UTI Liquid Cash Plan and Reliance Capital Trustee Company – A/c Nippon India Liquid Fund.IIFL Finance: Company approved appointment of Sumit Bali as an Executive Director and Chief Executive Officer, Ralesh Raiak as Chief Financial officer.Ceat: Company declared an interim dividend of Rs 12 per share.Pearl Global Industries: Subsidiary at Bangladesh, Prudent Fashions is likely to commence commercial production from Q1 FY2020-21.PNC Infratech: CARE reaffirmed credit rating on the bank facilities of subsidiary, MP Highways Private Limited.Automotive Stampings & Assemblies: Company appointed Yogesh Jaju as Chief Financial Officer (CFO).CESC Ventures: Company executed a Share Subscription Agreement and Shareholders Agreement for acquiring a 8.49 percent shareholding in Peel-Works Private Limited.BPCL: Company declared an interim dividend of Rs 16.50 per share.Sterling Tools: Company approved investment in equity shares of Sterling Gtake E-mobility, the joint venture/subsidiary.City Union Bank: Bank has inaugurated six new Branches at Bhilai, Rameswaram, Managalagiri, Auto Nagar, Morbi and Tadepalligudem.Laurus Labs: Company announced interim dividend of Rs 1.50 per share.FII and DII dataForeign institutional investors (FIIs) sold shares worth Rs 3,475.29 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 3,918.24 crore in the Indian equity market on March 12, provisional data available on the NSE showed.Fund flowStock under F&O ban on NSENo stock is under the F&O ban for March 13. 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!
Read More