Trading Setup For Friday: 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 gained strength after the morning turmoil and continued to end with a record set on August 5. Metals, stocks of FMCG and IT led to market support.

BSE Sensex increased by 123.07 points to 54,492.84, while Nifty50 rose by 35.80 points to 16,294.60 and formed a Doji candle pattern as the closure was close to opening levels.

“A beautiful small candle with a shade above and below is being built. Technically, this pattern reflects the formation of a Doji (not ancient) type candle at very high altitudes. Technology of HDFC Securities.

“Sometimes, such a move results in a reversal or a low correction from high altitudes. , “he said.

“Such an expected decline could be an opportunity to buy dip in the market in terms of a change in polarity,” he added.

Key Support And Resistance Levels On The Nifty

According to pivot charts, the key support levels for the Nifty are placed at 16,220.1, followed by 16,145.6. If the index moves up, the key resistance levels to watch out for are 16,359.3 and 16,424.

Nifty Bank

The Nifty Bank fell 193.25 points to close at 35,834.80 on August 5. The important pivot level, which will act as crucial support for the index, is placed at 35,625.6, followed by 35,416.4. On the upside, key resistance levels are placed at 36,079.7 and 36,324.6 levels.

Call Option Data

Maximum Call open interest of 21.55 lakh contracts was seen at 16500 strike, which will act as a crucial resistance level in the August series.

This is followed by 16000 strike, which holds 15.87 lakh contracts, and 15800 strike, which has accumulated 15.76 lakh contracts.

Call writing was seen at 16700 strike, which added 1.7 lakh contracts, followed by 16400 strike, which added 76,150 contracts and 16800 strike which added 73,300 contracts.

Call unwinding was seen at 16000 strike, which shed 1.02 lakh contracts, followed by 15800 strike which shed 97,500 contracts, and 15900 strike which shed 97,050 contracts.

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Put Option Data

Maximum Put open interest of 29.07 lakh contracts was seen at 16000 strike, which will act as a crucial support level in the August series.

This is followed by 15800 strike, which holds 28.31 lakh contracts, and 15500 strike, which has accumulated 26.53 lakh contracts.

Put writing was seen at 16000 strike, which added 4.18 lakh contracts, followed by 16300 strike which added 4.01 lakh contracts, and 16100 strike which added 1.29 lakh contracts.

Put unwinding was seen at 15800 strike, which shed 3.57 lakh contracts, followed by 17000 strike which shed 9,250 contracts.

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Bulk Deals

Gokaldas Exports: Pramerica Mutual Fund acquired 2,96,323 equity shares in the company at Rs 218.62 per share on the NSE, the bulk deals data showed.

SBI Life Insurance Company: CA Emerald Investments sold 1.9 crore equity shares in the company at Rs 1,130 per share on the BSE, the bulk deals data showed.

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Results On August 6

Hindalco Industries, Mahindra & Mahindra, Aarti Industries, Abbott India, Alkem Laboratories, Anupam Rasayan India, APL Apollo Tubes, Asian Granito India, AU Small Finance Bank, Balkrishna Industries, BASF India, Bharat Electronics, BEML, Berger Paints India, Graphite India, Indigo Paints, JK Tyre & Industries, Metropolis Healthcare, MTAR Technologies, Muthoot Finance, NALCO, Piramal Enterprises, SAIL, Sandhar Technologies, Sona BLW Precision Forgings, Tata Power Company, Torrent Power, Ujjivan Small Finance Bank, Voltas, and Zee Entertainment Enterprises will release quarterly earnings on August 6.

Results On August 7

Divis Labs, Bank of Baroda, Advanced Enzyme Technologies, Affle (India), Amber Enterprises India, Atul Auto, DCB Bank, Dodla Dairy, Dollar Industries, Hindustan Copper, Indiabulls Real Estate, Jaiprakash Associates, Quick Heal Technologies, and VRL Logistics will release quarterly earnings on August 7.

Analysts/Investors Meeting

Strides Pharma Science: The company’s officials will meet analysts and investors on August 6 to discuss the un-audited financial results.

Zee Entertainment Enterprises: The company’s officials will meet analysts and investors on August 6 to discuss performance during Q1FY22.

Siemens: The company’s officials will meet analysts and investors in ‘Macquarie ESG Score’ group call on August 6.

Star Housing Finance: The company’s officials will meet analysts and investors on August 6 to discuss financial performance.

Dollar Industries: The company’s officials will meet analysts and investors on August 9 to discuss the financial results.

Gati: The company’s officials will meet analysts and investors on August 12 to discuss Q1FY22 earnings.

Stocks In The News

Adani Power: The company reported consolidated profit at Rs 278.22 crore in Q1FY22 against loss of Rs 682.46 crore in Q1FY21, revenue increased to Rs 6,568.86 crore from Rs 5,203.83 crore YoY.

Accelya Solutions India: The company reported higher consolidated profit at Rs 18.35 crore in Q1FY22 against Rs 3.55 crore in Q1FY21, revenue rose to Rs 85.72 crore from Rs 62.83 crore YoY.

Quess Corp: The company reported higher consolidated profit at Rs 44.63 crore in Q1FY22 against Rs 36.45 crore in Q1FY21, revenue increased to Rs 298.69 crore from Rs 240.94 crore YoY.

Cipla: The company reported higher consolidated profit at Rs 714.72 crore in Q1FY22 against Rs 577.91 crore in Q1FY21, revenue rose to Rs 5,504.35 crore from Rs 4,346.16 crore YoY.

Honeywell Automation India: The company reported lower profit at Rs 91.53 crore in Q1FY22 against Rs 98.08 crore in Q1FY21, revenue fell to Rs 683.20 crore from Rs 736.23 crore YoY.

Adani Transmission: The company reported higher consolidated profit at Rs 433.24 crore in Q1FY22 against Rs 355.40 crore in Q1FY21, revenue jumped to Rs 2,935.72 crore from Rs 2,542.84 crore YoY.

FII And DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 719.88 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 731.92 crore in the Indian equity market on August 5, as per provisional data available on the NSE.

Stocks Under F&O Ban On NSE

Four stocks – Canara Bank, Indiabulls Housing Finance, RBL Bank, and Sun TV Network – are under the F&O ban for August 6. 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.