Trade setup for Wednesday: Top 10 things to know before Opening Bell

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

The market increased losses for the third consecutive session when the Nifty50 fell below 15,800 at the end of June 29, invested in banks and funds, car stocks and metals.

BSE Sensex dropped 185.93 points to close at 52,549.66, while Nifty50 declined 66.20 points to 15,748.50 and formed a bearish candlestick similar to the Spinning Top pattern on daily charts.

“Fifty fell below the initial 10-time EMA support of 15,760 on Tuesday and closed slightly. Weaknesses below this support could lead to some significant 20-day EMA support at approximately 15,670 levels. In the past ten times, 4 times -20 EMA has given Nifty support which has led to a major explosion, “he said.

“The absence of a sharp sales industry on new roads over the past few seasons could indicate the possibility of halting this decline and the emergence of a return in the next 1-2 days,” Shetty said.

Wide markets, too, closed the session down as the Nifty Midcap 100 index fell by half a percentage, while the Nifty Smallcap 100 dropped by 0.14 percent.

Key Support And Resistance Levels On The Nifty

According to pivot charts, the key support levels for the Nifty are placed at 15,703.03, followed by 15,657.57. If the index moves up, the key resistance levels to watch out for are 15,814.93 and 15,881.37.

Nifty Bank

The Nifty Bank fell 349.10 points to 1 percent to close at 35,010.30 on June 29. The important pivot level, which will act as crucial support for the index, is placed at 34,836.86, followed by 34,663.43. On the upside, key resistance levels are placed at 35,260.56 and 35,510.83 levels.

Call Option Data

Maximum Call open interest of 23.03 lakh contracts was seen at 16000 strike, which will act as a crucial resistance level in the July series.

This is followed by 16500 strike, which holds 17.99 lakh contracts, and 16400 strike, which has accumulated 15.15 lakh contracts.

Call writing was seen at 15800 strike, which added 2.69 lakh contracts, followed by 16000 strike which added 2.41 lakh contracts, and 16200 strike which added 87,950 contracts.

Call unwinding was seen at 15700 strike, which shed 23,200 contracts, followed by 15000 strike which shed 2,500 contracts.

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Put Option Data

Maximum Put open interest of 28.69 lakh contracts was seen at 15500 strike, which will act as a crucial support level in the July series.

This is followed by 15000 strike, which holds 25.77 lakh contracts, and 15200 strike, which has accumulated 17.63 lakh contracts.

Put writing was seen at 15500 strike, which added 1.38 lakh contracts, followed by 15800 strike which added 1.13 lakh contracts, and 15000 strike which added 91,400 contracts.Put unwinding was seen at 16000 strike, which shed 68,500 contracts, followed by 15200 strike which shed 55,550 contracts and 15900 strike which shed 55,100 contracts.

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Bulk Deals

Godrej Properties: Promoter Godrej Industries acquired 70,42,374 equity shares in the company at Rs 1,416 per share on the NSE, the bulk deals data showed.

Godrej Industries: TAD Family Trust acquired 25,20,068 equity shares in the company, HNG Family Trust bought 25,20,068 equity shares, SNG Family Trust 25,20,068 equity shares, PG Family Trust 25,20,069 equity shares, NG Family Trust bought 25,20,069 shares, and BNG Family Trust acquired 25,20,069 shares at Rs 575 per share. However, promoters Anamudi Real Estates LLP sold 66,33,552 equity shares, and Godrej Seeds and Genetics sold 84,86,859 shares in Godrej Industries at same price on the BSE, the bulk deals data showed.

Godrej Agrovet: Promoter Godrej Industries bought 31,26,102 equity shares in the company at Rs 621.51 per share on the BSE, the bulk deals data showed.

HDFC Life Insurance Company: Standard Life (Mauritius Holdings) 2006 Ltd sold 5,04,22,552 equity shares each at Rs 672.89 and Rs 672.46 per share on the BSE, the bulk deals data showed.

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Results On June 30

More than 900 companies will release their quarterly earnings on June 30 including SpiceJet, Vodafone Idea, Alankit, Anant Raj, Archies, BF Utilities, BGR Energy Systems, Binani Industries, Dish TV India, Emami Realty, Fiem Industries, GM Polyplast, Indowind Energy, IRCON International, IVRCL, Liberty Shoes, McNally Bharat Engineering, MEP Infrastructure Developers, Ortel Communications, Sadbhav Engineering, Sanwaria Consumer, Sequent Scientific, Simbhaoli Sugars, Simplex Infrastructures, SREI Infrastructure Finance, Ucal Fuel Systems, Vikas EcoTech, VIP Clothing, Zenith Exports, and Zodiac Clothing.

Analysts/Investors Meeting

Burger King India: To meet Aditya Birla Sun Life MF, Dymon Asia Capital (Singapore), Franklin Resources Inc, Manulife Investment Management (US) LLC, Nippon Life Insurance Company, and Valiant Capital Management, L.P. on June 30.

Macrotech Developers: To meet investors/analysts at CLSA’s India Real Estate Virtual Access Day on June 30.

Dixon Technologies (India): To meet GIC on June 30.

Hindalco Industries: To meet Kotak Mahindra Asset Management on June 30.

Indraprastha Gas: To meet analysts/institutional investors in an investor conference organized by UBS Securities India on June 30.

NBCC (India): To meet analysts/investors on June 30.

Punjab Chemicals & Crop Protection: To meet HDFC Securities, Anand Rathi, Alpha Invesco, Sharekhan, and UTI MF on June 30.

Sequent Scientific: To meet analysts/investors on July 1.

Mahindra Logistics: To meet Nikko Asset Management on July 1, and Ashmore Investments Management on July 2.

Mahindra Lifespace Developers: To meet investors/analysts at CLSA’s ‘India Real Estate Virtual Access Day’ on July 1.

Stocks In The News

Vindhya Telelinks: The company reported higher consolidated profit at Rs 116.04 crore in Q4FY21 against Rs 38.26 crore in Q4FY20, revenue jumped to Rs 556.56 crore from Rs 459.08 crore YoY.

Shriram EPC: The company reported consolidated loss at Rs 35.78 crore in Q4FY21 against loss Rs 91.08 crore in Q4FY20, revenue fell to Rs 177.51 crore from Rs 184 crore YoY.

Gujarat Sidhee Cement: The company reported higher consolidated profit at Rs 20.79 crore in Q4FY21 against Rs 16.27 crore in Q4FY20, revenue rose to Rs 194.41 crore from Rs 165.48 crore YoY.

HUDCO: The company reported higher consolidated profit at Rs 526.28 crore in Q4FY21 against Rs 440.91 crore in Q4FY20, revenue fell to Rs 1,759.38 crore from Rs 1,888.49 crore YoY.

Uflex: The company will double aspectic packaging capacity to 7 billion packs per annum by March 2022 and will invest Rs 120 crore for the proposed expansion.

Tata Coffee: ICRA has upgraded the long term rating to AA+/Stable from AA/Stable, and re-affirmed the short term rating at A1+.

FII And DII Data

Foreign institutional investors (FIIs) net bought shares worth Rs 116.63 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 1,810.05 crore in the Indian equity market on June 29, as per provisional data available on the NSE.

Stocks Under F&O Ban On NSE

One stock – NALCO – is under the F&O ban for June 30. 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.