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 increased the losses for the third consecutive session and the Nifty50 fell below 15,700 levels on July 20. Banks and currencies, cars, metals and pharma shares saw pressure to sell.

BSE Sensex was down 354.89 points at 52,198.51, while Nifty50 was down 120.30 points to 15,632.10 and formed a bearish candlestick on the daily charts as the closing was lower than opening levels.

“With the current closure, the index is approaching four to six weeks in a repetitive range of 15,600 key levels that need to be considered,” said Rajesh Palviya, VP – Technical and Derivative Research at Axis Securities.

He further added that any violation of the support area within 15,580 levels could result in a profit booking of up to 15,500-15,400 levels.

“The next high levels to be considered are at an estimated 15,700 levels. Any sustainable movement in excess of 15,700 levels could create momentum at 15,800-15,850 levels,” he added.

Broad markets have fallen sharply, with poor performance indicators. The Nifty Midcap 100 and Smallcap 100 indicators are down 1.4 percent each.

Key Support And Resistance Levels On The Nifty

According to pivot charts, the key support levels for the Nifty are placed at 15,564.23, followed by 15,496.37. If the index moves up, the key resistance levels to watch out for are 15,714.23 and 15,796.37.

Nifty Bank

The Nifty Bank plunged 663.75 points or 1.89 percent to 34,415.45 on July 20. The important pivot level, which will act as crucial support for the index, is placed at 34,217.16, followed by 34,018.93. On the upside, key resistance levels are placed at 34,753.87 and 35,092.34 levels.

Call Option Data

Maximum Call open interest of 30.16 lakh contracts was seen at 16,000 strike, which will act as a crucial resistance level in the July series.

This is followed by 15,800 strike, which holds 28.17 lakh contracts, and 15,700 strike, which has accumulated 24.10 lakh contracts.

Call writing was seen at 15,700 strike, which added 13.67 lakh contracts, followed by 15,600 strike which added 8.17 lakh contracts and 15,800 strike which added 6.19 lakh contracts.

Call unwinding was seen at 16,200 strike, which shed 2.45 lakh contracts, followed by 16,400 strike which shed 2.30 lakh contracts, and 16,300 strike which shed 2.05 lakh contracts.

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Put Option Data

Maximum Put open interest of 34.57 lakh contracts was seen at 15,000 strike, which will act as a crucial support level in the July series.

This is followed by 15,500 strike, which holds 29.86 lakh contracts, and 15,300 strike, which has accumulated 18.89 lakh contracts.

Put writing was seen at 15,600 strike, which added 3.27 lakh contracts, followed by 15,200 strike which added 2.33 lakh contracts, and 15,300 strike which added 1.92 lakh contracts.

Put unwinding was seen at 15,800 strike, which shed 5.48 lakh contracts, followed by 15,900 strike which shed 2.55 lakh contracts, and 15,000 strike which shed 2.51 lakh contracts.

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Bulk Deals

Jump Networks: Sirius Advisors acquired 5 lakh equity shares in the company at Rs 11.59 per share on the BSE, the bulk deal data showed.

Just Dial: Reliance Retail Ventures bought 1,30,61,163 equity shares in the company at Rs 1,020 per share, whereas Venkatachalam Sthnu Subra Mani sold 1,30,61,163 equity shares in the company at same price on the BSE, the bulk deal data showed.

Stylam Industries: Sixth Sense India Opportunities III acquired 7 lakh equity shares in the company at Rs 861.42 per share, whereas Lighthouse Emerging India Investors sold 7.6 lakh equity shares in the company at Rs 861.23 per share on the BSE, the bulk deal data showed.

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Results on July 22

Hindustan Unilever, UltraTech Cement, Bajaj Auto, Agro Tech Foods, Bajaj Holdings & Investment, Biocon, Can Fin Homes, Chennai Petroleum Corporation, CSB Bank, Heidelbergcement India, Hindustan Zinc, ICICI Lombard General Insurance Company, Indian Energy Exchange, IIFL Securities, IndiaMART InterMESH, India Pesticides, Lloyds Steels Industries, Bank of Maharashtra, Mahindra EPC Irrigation, Mphasis, Persistent Systems, Music Broadcast, Shiva Cement, South Indian Bank, Sterlite Technologies, and Wockhardt will release their quarterly earnings on July 22.

Analysts/Investors Meeting

South Indian Bank: The company’s officials will meet analysts and investors on July 23 in respect of unaudited financial results.

GE T&D India: The company’s officials will meet analysts and investors on July 23.

HeidelbergCement India: The company’s officials will meet analysts and institutional investors on July 23 to discuss unaudited financial results.

Motilal Oswal Financial Services: The company’s officials will meet investors and analysts on July 30 to discuss financial performance.

Godrej Properties: The company’s officials will meet investors and analysts on August 3.

Stocks In The News

Network18 Media & Investments: The company reported sharp increase  in consolidated operating revenue at Rs 1,214 crore for Q1FY22 against Rs 807 crore in Q1FY21. Operating EBITDA jumped to Rs 188 crore from Rs 27 crore YoY

TV18 Broadcast: The company’s consolidated operating revenue for Q1FY22 came in at Rs 1,155 crore against Rs 776 crore in Q1FY21, operating EBITDA jumped to Rs 188 crore from Rs 44 crore YoY.

Jubilant Ingrevia: East Bridge Capital Master Fund sold 2.4% stake in the company via open market transaction on July 19, reducing shareholding to 5.61% from 8% earlier.

IDFC First Bank: The RBI said IDFC can exit as promoter of IDFC FIRST Bank after the expiry of lock-in period of 5 years. IDFC holds 36.56% in IDFC First Bank.

Havells India: The company reported consolidated profit of Rs 235.78 crore in Q1FY22 against Rs 63.98 crore in Q1FY21, revenue rose to Rs 2,609.97 crore from Rs 1,483.40 crore YoY.

Gland Pharma: The company reported higher consolidated profit at Rs 350.65 crore in Q1FY22 against Rs 313.59 crore in Q1FY21, revenue rose to Rs 1,153.9 crore from Rs 884.2 crore YoY.

FII And DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 2,834.96 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 873.14 crore in the Indian equity market on July 20, as per provisional data available on the NSE.

Stocks Under F&O Ban On NSE

Six stocks – Cadila Healthcare, Canara Bank, Indiabulls Housing Finance, NALCO, NMDC, and Sun TV Network – are under the F&O ban for July 22. 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.