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

FIIs sold shares worth Rs 438.85 crore, while DIIs bought shares of worth Rs 10.51 crore in the Indian equity market on January 27, provisional data available on the NSE showed.

January 27, 2020 / 10:09 PM IST
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Indian equity market started the week on a negative note on the back of weak global cues.

Market sentiments took a hit by rising concerns over fast-spreading coronavirus, as it might lead to a slowdown in the global economy, said experts. Investors were also cautious ahead of the Union Budget which is scheduled for later this week.

Sensex witnessed the second biggest fall in January, dropping to its lowest level in a month. The index closed 458 points, or 1.10 percent, down at 41,155.12. Nifty finished with a loss of 129 points, or 1.06 percent, at 12,119.

Nifty formed a bearish candle on the daily scale as supply pressure was visible at higher levels and is hovering near its 5O-DEMA which has been acting as support for the last few sessions. "Going forward, if Nifty fails to surpass 12,150-12,200 zone, it could drift towards the next major support of 12,050-12,000 zone, while on the upside, the hurdle is seen at 12,200
then 12,250," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

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

Key support and resistance level for Nifty

According to the pivot charts, the key support level for Nifty is placed at 12,078.47, followed by 12,037.93. If the index moves up, key resistance levels to watch out for are 12,188.07 and 12,257.13.

Nifty Bank

Nifty Bank closed 1.29 percent down at 30,837.40. The important pivot level, which will act as crucial support for the index, is placed at 30,688.3, followed by 30,539.2. On the upside, key resistance levels are placed at 31,106.8 and 31,376.2.

Call options data

Maximum call open interest (OI) of 55.74 lakh contracts was seen at the 12,200 strike price. It will act as a crucial resistance level in the January series.

This is followed by 12,300 strike price, which holds 42.05 lakh contracts in open interest, and 12,500, which has accumulated 40.77 lakh contracts in open interest.

Significant call writing was seen at the 12,200 strike price, which added 30.64 lakh contracts, followed by 12,300 strike price that added 11.4 lakh contracts.

Call unwinding was witnessed at 11,700 strike price, which shed 29,175 contracts.

Image 1

Put options data

Maximum put open interest of 43.72 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the January series.

This is followed by 12,200 strike price, which holds 28.78 lakh contracts in open interest, and 12,100 strike price, which has accumulated 24.25 lakh contracts in open interest.

Put writing was seen at the 11,900 strike price, which added 4.84 lakh contracts, followed by 12,100 strike, which added 1.8 lakh contracts.

Put unwinding was seen at 12,200 strike price, which shed 9.4 lakh contracts, followed by 11,800 strike that shed 1.43 lakh contracts.

Image 2

Stocks with a high delivery percentage

A high delivery percentage suggests that investors are showing interest in these stocks.

High delivery

36 stocks saw long build-up

Based on open interest (OI) future percentage, here are the top 10 stocks in which long build-up was seen.

Long Buildup

6 stocks saw long unwinding

Long unwinding

105 stocks saw short build-up

An 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.

short buildup

No stock witnessed short-covering

There was no stock which witnessed short-covering on January 27. A decrease in open interest, along with an increase in price, mostly indicates a short-covering.

Bulk deals

Bulk Deals

(For more bulk deals, click here)

Quarterly results

Maruti Suzuki, CG Power and Industrial Solutions, Century Textile and Industries, Central Bank of India, Cummins India, Chemo Pharma Laboratories, Infibeam Avenues, JK Lakshmi Cement, Mahindra & Mahindra Financial Services, Manappuram Finance, Mastek and Ramco Systems are among the companies that will release their December quarter numbers on January 28.

Stocks in the news:

HDFC: Q3 profit surged to Rs 8,372.5 cr versus Rs 2,113.8 cr, NII grew 9.8 percent to Rs 3,296.7 cr YoY.

InterGlobe: Q3 consolidated profit jumped to Rs 496 cr versus Rs 185 cr, revenue grew 25.5 percent to Rs 9,932 cr YoY.

Torrent Pharma: Q3 profit rose 2 percent to Rs 251 cr, revenue fell 4.1 percent to Rs 1,966 cr YoY.

United Spirits: Q3 profit jumped 15.2 percent to Rs 232 cr, revenue increased 2.9 percent to Rs 2,587.6 cr YoY.

JK Paper: Q3 profit rose 18.3 percent to Rs 131.8 cr, revenue dipped 5.6 percent to Rs 820.6 cr YoY.

Music Broadcast: Q3 profit dipped 37.8 percent to Rs 10 cr, revenue declined 20 percent to Rs 69.6 cr YoY.

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 438.85 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 10.51 crore in the Indian equity market on January 27, provisional data available on the NSE showed.

Fund flow

Fund Flow

Stock under F&O ban on NSE

Yes Bank is under the F&O ban for January 28. 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.

Nishant Kumar
first published: Jan 27, 2020 08:14 pm

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