Trade Setup For Tuesday: 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 was heavily traded throughout the session and closed the day before August 2, driven by auto, IT, select banks and FMCG shares. It started well the week after the reunion seen last week.

The BSE Sensex scored 363.79 points to close at 52,950.63, while the Nifty50 rose by 122.20 points to 15,885.20 and formed a bullish candle resembling a Hanging Man pattern on daily charts.

“A beautiful small candle with a long shadow at the bottom and a gap opening has been created. This pattern indicates the emergence of market forces to stabilize high levels, after the erratic movement of the past few times. Analyst for HDFC Securities.

He continued, “The bulls seem to be coming back, after a series of negative episodes of the last few sessions. Sustainable movement above the first barrier of 15,880 levels is expected to draw the Nifty to a significant level of 15,960-16,000 or more in the short term.” Immediate support was placed at 15,830 levels, added Shetti.

Wide markets advanced, with the Nifty Midcap 100 index rising 1.56 percent and the Smallcap 100 rising 0.91 percent.

Key Support And Resistance Levels On The Nifty

According to pivot charts, the key support levels for the Nifty are placed at 15,848.97, followed by 15,812.73. If the index moves up, the key resistance levels to watch out for are 15,907.17 and 15,929.13.

Nifty Bank

The Nifty Bank climbed 125.70 points to 34,710 on August 2. The important pivot level, which will act as crucial support for the index, is placed at 34,578.2, followed by 34,446.4. On the upside, key resistance levels are placed at 34,851.8 and 34,993.6 levels.

Call Option Data

Maximum Call open interest of 22.21 lakh contracts was seen at 15,800 strike, which will act as a crucial resistance level in the August series.

This is followed by 16,000 strike, which holds 22.08 lakh contracts, and 16,500 strike, which has accumulated 15.97 lakh contracts.

Call writing was seen at 15,900 strike, which added 3.3 lakh contracts, followed by 16,000 strike, which added 2.25 lakh contracts and 16,200 strike which added 1.86 lakh contracts.

Call unwinding was seen at 15,700 strike, which shed 93,700 contracts, followed by 15,600 strike which shed 49,150 contracts, and 16,500 strike which shed 27,950 contracts.

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Put Option Data

Maximum Put open interest of 28.06 lakh contracts was seen at 15,800 strike, which will act as a crucial support level in the August series.

This is followed by 15,500 strike, which holds 24.83 lakh contracts, and 15,300 strike, which has accumulated 14.74 lakh contracts.

Put writing was seen at 15,900 strike, which added 5.89 lakh contracts, followed by 15,400 strike which added 4.35 lakh contracts, and 15,300 strike which added 3.86 lakh contracts.

Put unwinding was seen at 15,600 strike, which shed 1 lakh contracts.

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Bulk Deals

Tejas Networks: Tata Sons’ subsidiary Panatone Finvest acquired additional 75 lakh equity shares in the company at Rs 258 per share on the NSE. Public shareholder Samena Spectrum was the seller in this deal, offloading same number of shares at the same price, the bulk deal data showed.

Ujjivan Financial Services: TT Emerging Markets Unconstrained Fund acquired 8,82,786 equity shares in the company at Rs 240 per share, whereas Alena Private Limited sold 40 lakh equity shares at the same price on the NSE, the bulk deal data showed.

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Results on August 03

Bharti Airtel, Adani Enterprises, Adani Ports and Special Economic Zone, Bajaj Healthcare, Bank of India, Barbeque-Nation Hospitality, CARE Ratings, Dabur India, Dhampur Sugar Mills, Prataap Snacks, ELGI Equipments, Everest Industries, Godrej Properties, IIFL Wealth Management, Inox Leisure, Indian Overseas Bank, Kajaria Ceramics, Kalpataru Power Transmission, Munjal Showa, Neuland Laboratories, NOCIL, Shipping Corporation of India, Simplex Realty, Tata Consumer Products, Transport Corporation of India, and TRF will release their quarterly earnings on August 3.

Analysts/Investors Meeting

Welspun India: The company’s officials will meet JM Financial Institutional Securities on August 3.

Dr Reddy’s Laboratories: The company’s officials will meet Investec Capital Services on August 3.

Carborundum Universal: The company’s officials will meet analysts and investors on August 3 to discuss financial results.

Axis Bank: The company’s officials will meet analysts and investors in a group meeting arranged by Goldman Sachs Symposium, on August 4.

Mindtree: The company’s officials will meet analysts and investors in a group meeting arranged by Goldman Sachs Indian Banks + Fintech Symposium, on August 4.

Godrej Consumer Products: The company’s officials will meet analysts and investors on August 4 to discuss financial results.

Oriental Carbon & Chemicals: The company’s officials will meet investors and analysts on August 6 to discuss the financial and operational performance.

OnMobile Global: The company’s officials will meet analysts and investors on August 9 to discuss financial results.

Balrampur Chini Mills: The company’s officials will meet analysts and investors on August 10, to discuss financial results.

Havells India: The company’s officials will meet analysts and investors in group conference meetings arranged by Emkay Global Financial Services on August 10, and Edelweiss Securities on August 17.

Stocks In The News

Mangalore Chemicals & Fertilizers: The company reported profit at Rs 24.32 crore in Q1FY22 against Rs 11.01 crore in Q1FY21, revenue jumped to Rs 687.19 crore from Rs 529.8 crore YoY.

Adani Enterprises: Adani Wilmar, a 50:50 joint venture company between the Adani group and the Wilmar group, filed its draft red herring prospectus with the Sebi to raise Rs 4,500 crore via IPO.

RBL Bank: The bank reported standalone loss of Rs 459.47 crore in Q1FY22 against profit of Rs 141.22 crore in Q1FY21, net interest income fell to Rs 969.50 crore from Rs 1,041.30 crore YoY.

Punjab National Bank: The bank reported higher standalone profit at Rs 1,023.46 crore in Q1FY22 against Rs 308.45 crore in Q1FY21, net interest income increased to Rs 7,226.58 crore from Rs 6,781.55 crore YoY.

Balaji Amines: The company reported consolidated profit at Rs 97.39 crore in Q1FY22 against Rs 31.58 crore in Q1FY21, revenue jumped to Rs 450.68 crore from Rs 222.91 crore YoY.

Tata Motors: The company will increase prices of its passenger vehicles, on an average of 0.8 percent, depending on the variant and model, with effect from August 3.

FII And DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 1,539.88 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,505.82 crore in the Indian equity market on August 2, as per provisional data available on the NSE.

Stocks Under F&O Ban On NSE

One stock – Sun TV Network – is under the F&O ban for August 3. 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.