Trading Setup For Monday: Top 10 Things To Know Before Market Opening

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

The Indian stock market remained in good shape for the week ending July 16, with Sensex and Nifty brands rising more than one percent.

Indian markets mark Sensex and Nifty to reach their new records of 53,290.81 and 15,962.25, respectively, in the domestic trade on July 16.

Next week is a summary of the holidays and global indicators and salary announcements are expected to control the trend. In addition, COVID-related updates and rainfall progress will also remain the focus.

“The indicators are in favor of sustained violence and we expect Nifty to sell within the range of 15,750-16,150. We reiterate our view that banking operations will play a key role in Nifty’s recovery and further growth,” said Ajit Mishra, VP Research. Religious Smoking.

“As all sectors participate in this initiative, traders should continue to focus on stock options and continue with the ‘buy on dips’ approach,” Mishra said.

Key Support And Resistance Levels On The Nifty

According to pivot charts, the key support levels for the Nifty are placed at 15,883.27, followed by 15,843.13. If the index moves up, the key resistance levels to watch out for are 15,962.87 and 16,002.33.

Nifty Bank

The Nifty Bank fell 156 points, or 0.43 percent, to 35,751.80 on July 16. The important pivot level, which will act as crucial support for the index, is placed at 35,625.1, followed by 35,498.4. On the upside, key resistance levels are placed at 35,928.2 and 36,104.6 levels.

Call Option Data

Maximum Call open interest of 29.73 lakh contracts was seen at 16,000 strike, which will act as a crucial resistance level in the July series.

This is followed by 16,300 strike, which holds 17.81 lakh contracts, and 16,200 strike, which has accumulated 17.11 lakh contracts.

Call writing was seen at 16,300 strike, which added 4.86 lakh contracts, followed by 16,400 strike which added 4.33 lakh contracts and 16,000 strike which added 2.64 lakh contracts.

Call unwinding was seen at 15,700 strike, which shed 54,650 contracts, followed by 15,800 strike which shed 46,700 contracts, and 15,600 strike which shed 23,800 contracts.

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Put Option Data

Maximum Put open interest of 29.20 lakh contracts was seen at 15,500 strike, which will act as a crucial support level in the July series.

This is followed by 15,800 strike, which holds 20.49 lakh contracts, and 15,700 strike, which has accumulated 15.95 lakh contracts.

Put writing was seen at 15,400 strike, which added 3.19 lakh contracts, followed by 15,500 strike which added 1.89 lakh contracts, and 15,900 strike which added 1.74 lakh contracts.

Put unwinding was seen at 15,700 strike, which shed 1.15 lakh contracts, followed by 15,400 strike which shed 2,200 contracts.

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Bulk Deals

Bulk deals

Results On July 19

HCL Technologies, HDFC Life Insurance Company, ACC, Indian Bank, Mastek, Allsec Technologies, Alok Industries, Astron Paper & Board Mill, GTPL Hathway, Nippon Life India Asset Management, Plastiblends India, Ponni Sugars (Erode), PSP Projects, Supreme Petrochem, and Swaraj Engines will release quarterly earnings on July 19.

Analysts/Investors Meeting

Indian Bank: To meet analysts and investors on July 19.

Eicher Motors: To meet AIA International on July 19.

Bajaj Auto: To meet analysts and institutional investors on July 22 to discuss Q1 FY22 results.

ICICI Prudential Life Insurance Company: To meet investors and analysts on July 20 to discuss the financial performance.

Persistent Systems: To meet investors and analysts on July 23.

SBI Cards and Payment Services: To meet investors and analysts on July 23.

Multi Commodity Exchange of India: To meet investors and analysts on July 26, to discuss financial results.

United Spirits: To meet analysts and investors on July 26, to discuss unaudited financial results.

Mahindra & Mahindra Financial Services: To meet analysts and investors on July 27, to comment on the financial results.

Torrent Pharmaceuticals: To meet investors and analysts on July 27 to discuss the financial performance.

Sun Pharmaceutical Industries: To meet investors and analysts on July 30 to discuss the financial performance.

Sonata Software: To meet analysts and investors on August 5.​

Stocks In The News

HDFC Bank: The bank reported a higher standalone profit at Rs 7,729.64 crore in Q1FY22 against Rs 6,658.62 crore in Q1FY21, net interest income rose to Rs 17,009 crore from Rs 15,665.42 crore YoY.

United Spirits: Recovery Officer I DRT II (Debt Recovery Tribunal) sold 1,13,50,722 equity shares in the company at Rs 630.93 per share on the BSE, the bulk deals data showed. The deal was worth Rs 716 crore.

Jindal Stainless (Hisar): India Ratings has upgraded the credit rating of the company’s long-term bank facilities from ‘A’ to ‘A+’ and short-term facilities from ‘A1’ to ‘A1+’.

Anjani Portland Cement: The company has purchased another 33,23,423 (2.38 percent) equity shares of Bhavya Cements from its existing shareholders at a price of Rs 52.59 per share. This has resulted in an increase in the company’s shareholding in Bhavya Cements to 91.52 percent.

Spandana Sphoorty Financial: The company approved the issuance of secured non-convertible debentures up to Rs 290 crore on a private placement basis.

Just Dial: Reliance Retail Ventures, the subsidiary of Reliance Industries, will take a controlling stake in Just Dial for Rs 3,497 crore.

Nel Holdings South: The company has signed a Business Transfer Agreement with Ramky Estates and Farms (REFL) for the exit of the Melbourne Park project held with NHDPL South, the wholly-owned subsidiary of the company.

L&T Finance Holdings: The company reported profit at Rs 177.85 crore in Q1FY22 against Rs 148.31 crore in Q1FY21, revenue fell to Rs 3,140.12 crore from Rs 3,387.06 crore YoY.

Den Networks: The company reported lower consolidated profit at Rs 41.14 crore in Q1FY22 against Rs 58.65 crore in Q1FY21, revenue rose to Rs 302.97 crore from Rs 301.3 crore YoY.

Bajaj Hindusthan Sugar: Punjab National Bank sold a 2 percent stake in the company via open market transaction, reducing shareholding to 9.23 percent from 11.23 percent earlier.

Tata Power Company: The company joined hands with HPCL to set up electric vehicle charging stations at its petrol pumps across the country.​

FII And DII Data

Foreign institutional investors (FIIs) net sold shares worth Rs 466.3 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 666.07 crore in the Indian equity market on July 16, as per provisional data available on the NSE.

Stocks Under F&O Ban On NSE

Six stocks – Indiabulls Housing Finance, Vodafone Idea, NMDC, Punjab National Bank, SAIL, and Sun TV Network – are under the F&O ban for July 19. 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.