Trade Setup For Thursday: Top 10 Things To Know Before Market Opening

Trading Setup For Today
Trading Setup For Today | Top Thing To Know Before Market Opening

The market is constantly on the lookout for volatility all the time before it closes on August 25, before the end of contracts from August. Select banks, auto and pharma stocks fixed, and select FMCG, IT and stock markets that support the market.

BSE Sensex was down 14.77 points at 55,944.21, while Nifty50 was up 10.10 points to 16,634.70 and formed a small bearish candlestick on the daily charts as the closing was lower than opening levels.

“The daily price action creates a small bearish candlestick with a long shadow above indicating profit bookings at higher levels. The next high levels will be observed around 16 700 levels. Any sustainable movement above 16 700 levels could create momentum at 16,800 levels – 16,900, “said Rajesh Palviya, VP – Technical and Derivative Research at Axis Securities.

Worse, any violation of the support area within 16,600 levels could result in a profit booking of 16,500-16,400 levels, you feel.

Wide markets advanced ahead as the Nifty Midcap 100 index gained 0.32 percent while the Smallcap 100 index rose 0.79 percent.

Key Support And Resistance Levels On The Nifty

According to pivot charts, the key support levels for the Nifty are placed at 16,597.33, followed by 16,559.96. If the index moves up, the key resistance levels to watch out for are 16,692.23 and 16,749.77.

Nifty Bank

The Nifty Bank fell 125.80 points to close at 35,586.30 on August 25. The important pivot level, which will act as crucial support for the index, is placed at 35,420.44, followed by 35,254.67. On the upside, key resistance levels are placed at 35,831.14 and 36,076.07 levels.

Call Option Data

Maximum Call open interest of 67.55 lakh contracts was seen at 16700 strike, which will act as a crucial resistance level in the August series.

This is followed by 16800 strike, which holds 55.6 lakh contracts, and 17000 strike, which has accumulated 51.02 lakh contracts.

Call writing was seen at 16700 strike, which added 20.90 lakh contracts, followed by 16800 strike, which added 8.19 lakh contracts and 16900 strike which added 5.92 lakh contracts.

Call unwinding was seen at 16600 strike, which shed 8.73 lakh contracts, followed by 16500 strike which shed 7.91 lakh contracts, and 16400 strike which shed 2.13 lakh contracts.

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Put Option Data

Maximum Put open interest of 68.8 lakh contracts was seen at 16500 strike, which will act as a crucial support level in the August series.

This is followed by 16600 strike, which holds 50.4 lakh contracts, and 16000 strike, which has accumulated 45.75 lakh contracts.

Put writing was seen at 16600 strike, which added 14.79 lakh contracts, followed by 16700 strike which added 6.19 lakh contracts, and 16000 strike which added 69,100 contracts.

Put unwinding was seen at 15900 strike, which shed 8.3 lakh contracts, followed by 16300 strike which shed 4.28 lakh contracts and 16100 strike which shed 3.77 lakh contracts.

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Bulk Deals

Capacite Infraprojects: Think India Opportunities Master Fund LP sold 6,16,553 equity shares (0.9%) in the company at Rs 144.61 per share on the NSE, the bulk deals data showed.

GSS Infotech: Investor Alin Ajaykumar Shah sold 1,95,964 equity shares (1.15%) in the company at Rs 63.32 per share on the NSE, the bulk deals data showed.

Hind Rectifiers: Cassini Partners L P bought 98,612 equity shares in the company (0.59%) in the company at Rs 181.9 per share on the NSE, the bulk deals data showed.

Jubilant Pharmova: Rakesh Radheyshyam Jhunjhunwala and his wife Rekha Rakesh Jhunjhunwala net bought 4.75 lakh equity shares in the company at Rs 594.35 per share on the NSE, the bulk deals data showed. Rekha Rakesh Jhunjhunwala acquired 20 lakh equity shares and Rakesh Radheyshyam Jhunjhunwala bought 25 lakh shares in the company, but his firm Rare Enterprises sold 40.25 lakh equity shares at same price.

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Analysts/Investors Meeting

Ambuja Cements: The company’s officials will meet Kotak on August 26.

UltraTech Cement: The company’s officials will meet SBI Mutual Fund, Kotak Mutual Fund, UNPRI, Martin Currie Investment Management, Sumitomo Mitsui, and Axiom International on August 26.

Graphite India: The company’s officials will meet Pinpoint Asset Management, and DSP Investment Managers on August 26.

Allcargo Logistics: The company’s officials will meet Theleme Partners on August 26, and Ventura Securities on August 27.

Dodla Dairy: The company’s officials will meet investors on August 26, in Axis Capital 2021 Rising Stars Conference.

Birlasoft: The company’s officials will meet Investors Group on August 27.

Antony Waste Handling Cell: The company’s officials will meet analysts and investors on August 26 and 27.

Manappuram Finance: The company’s officials will meet Enam AMC on August 26, and analysts & investors at DART India Virtual Conference on August 27.

PI Industries: The company’s officials will meet Ambit Capital on August 26, and ICICI Prudential AMC on September 6.

CESC: The company’s officials will meet investors in Systematix Indian Power Utilities conference on August 31, and in Elara India Dialogue 2021 conference on September 7.

Stocks In The News

Kaveri Seed Company: The company approved the buyback of equity shares up to Rs 120 crore at a price up to Rs 850 per share.

Procter & Gamble Hygiene & Health Care: The company reported profit at Rs 48.98 crore in Q4FY21 against Rs 69.21 crore in Q4FY20, revenue rose to Rs 786.6 crore from Rs 634.53 crore YoY. The company has recommended a final dividend of Rs 80 per equity share (nominal value of Rs 10 each), for the financial year ended June 30, 2021.

BKM Industries: The company has sold 13,83,103 equity shares in BKM Industries via open market transaction, reducing shareholding to 5.29% from 7.4% earlier.

Chemplast Sanmar: SBI Fund Management acquired 53.07 lakh equity shares in the company via open market transaction, increasing shareholding to 8.25% from 4.89% earlier. Mirae Asset Investment Managers (India) bought 29.56 lakh equity shares in the company via open market transaction, raising stake to 6.84% from 4.97% earlier.

Max Healthcare Institute: The company approved an additional investment of Rs 50 crore by way of subscription towards Rights Issue of equity shares of Alps Hospitals.

Olectra Greentech: Promoter entity Trinity Infraventures sold 10.8 lakh equity shares in the company via open market transaction, reducing shareholding to 0.22% from 1.53% earlier.

FII And DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,071.83 crore, while domestic institutional investors (DIIs) net offloaded shares worth Rs 151.39 crore in the Indian equity market on August 25, as per provisional data available on the NSE.

Stocks Under F&O Ban On NSE

Four stocks – Vodafone Idea, NALCO, NMDC, and SAIL – are under the F&O ban for August 26. 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.

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