Trading Setup For Wednesday: 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 stayed strong throughout the session and settled with three-digit gains on July 13, as there was buying interest in banking & financials, select metals, pharma, and auto stocks.

The BSE Sensex rallied 397.04 points to 52,769.73, while the Nifty50 jumped 119.80 points to 15,812.40 and formed Doji kind of pattern on the daily charts as the closing was near its opening levels.

“A small body of positive candle was formed on Tuesday with long lower shadow and with unfilled opening upside gap. The negative implication of sell on intraday rise of Monday was nullified and Nifty closed higher on Tuesday,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities.

He said the crucial intraday resistance of 15,800 has been broken on the upside and the Nifty closed just above it, as per day’s close. This is positive indication and signal more upside in the short term, he feels.

According to him, the Nifty is expected to revisit key overhead resistance of 15,900-15,915 levels of larger high low range in the next 1-2 sessions. Immediate support is placed at 15,710 levels, he said.

The broader markets also closed in the green. The Nifty Midcap 100 index gained 0.21 percent and Smallcap 100 index rose 1.03 percent.

Key Support And Resistance Levels On The Nifty

According to pivot charts, the key support levels for the Nifty are placed at 15,764.33, followed by 15,716.37. If the index moves up, the key resistance levels to watch out for are 15,840.53 and 15,868.77.

Nifty Bank

The Nifty Bank outperformed Nifty50, rising 474.50 points or 1.35 percent to close at 35,673.40 on July 13. The important pivot level, which will act as crucial support for the index, is placed at 35,433.43, followed by 35,193.46. On the upside, key resistance levels are placed at 35,820.63 and 35,967.86 levels.

Call Option Data

Maximum Call open interest of 27.64 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 17.75 lakh contracts, and 16,200 strike, which has accumulated 15.74 lakh contracts.

Call writing was seen at 16,200 strike, which added 1.19 lakh contracts.

Call unwinding was seen at 15,700 strike, which shed 3.39 lakh contracts, followed by 15,800 strike which shed 2.06 lakh contracts.

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Put Option Data

Maximum Put open interest of 32.23 lakh contracts was seen at 15,500 strike, which will act as a crucial support level in the July series.

This is followed by 15,200 strike, which holds 22.79 lakh contracts, and 15,800 strike, which has accumulated 15.47 lakh contracts.

Put writing was seen at 15,800 strike, which added 2.13 lakh contracts, followed by 16,200 strike which added 1.99 lakh contracts, and 15,900 strike which added 64,150 contracts.

Put unwinding was seen at 15,300 strike, which shed 1.5 lakh contracts, followed by 15,200 strike which shed 1.03 lakh contracts.

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Bulk Deals

CMI: HSBC Small Cap Equity Fund sold 2,29,700 equity shares in CMI at Rs 52.01 per equity share on the NSE, the bulk deal data showed.

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Results On July 14

Results on July 14: Infosys, 5paisa Capital, Alliance Integrated Metaliks, Bhakti Gems and Jewellery, Craftsman Automation, Dodla Dairy, Essar Securities, Hatsun Agro Product, L&T Technology Services, Mishtann Foods, Tasty Dairy Specialities, Tinplate Company of India, and Vikas EcoTech will release their quarterly earnings on July 14.

Analysts/Investors Meeting

Stylam Industries: The company’s officials will meet Systematix Institutional Equities on July 16.

HDFC Life Insurance Company: The company’s officials will meet analysts and investors on July 19 to discuss Q1FY22 financial results.

DCM Shriram: The company’s officials will meet analysts and investors on July 23.

Aegis Logistics: The company’s officials will meet analysts and investors on July 14 to discuss the developments on the major JV with Royal Vopak for LPG & Chemicals terminals in India.

Vedanta: The company’s officials will meet analysts and investors on July 26.

Stocks In The News

Mindtree: The company reported profit of Rs 343.4 crore for Q1FY22 against Rs 317.3 crore reported in Q4FY21; revenue rose to Rs 2,291.7 crore from Rs 2,109.3 crore registered in the previous quarter.

Adani Enterprises: Subsidiary Adani Airport Holdings has taken over the management control of Mumbai International Airport (MIAL) from the GVK Group. This follows approvals received from the Government of India, the City and Industrial Development Corporation (CIDCO) of Maharashtra, and the Government of Maharashtra.

Bodal Chemicals: Samyaktva Construction LLP acquired 0.37% equity stake in the company, increasing shareholding to 5.27% from 4.9% earlier.

Barbeque-Nation Hospitality: ICRA has upgraded credit rating for the bank facilities of Barbeque-Nation Hospitality.

Bank of Maharashtra: The company opened its qualified institutional placement on July 13 and the floor price has been fixed at Rs 24.89 per share for the issue.

Tata Metaliks: The company reported profit of Rs 94.72 crore for Q1FY22 against loss of Rs 12.36 crore in Q1FY21, revenue jumped to Rs 602.97 crore from Rs 209.94 crore in the year-ago period.

FII And DII Data

Foreign institutional investors (FIIs) net bought shares worth Rs 113.83 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 344.19 crore in the Indian equity market on July 13, as per provisional data available on the NSE.

Stocks Under F&O Ban On NSE

Seven stocks – Granules India, Vodafone Idea, NALCO, NMDC, Punjab National Bank, SAIL, and Sun TV Network – are under the F&O ban for July 14. 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.