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Trade setup for Tuesday: Top 15 things you should know before Opening Bell

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The Nifty rallied from the word go and rose to a fresh record high of 11,171.55 on Monday, but pared some gains towards the close of the session. It formed a small bull candle on the daily candlestick charts which suggest that there was profit booking at higher levels.

Investors are advised to stay light as we approach the crucial Budget Day and avoid taking leverage in trading. There are no signs which suggest that the momentum is weakening; hence, investors should remain long with a stop below 11000.

The Nifty formed a small bullish candle after a Hanging Man kind of pattern which negated any bearish outlook formed in the previous trading session.

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The Nifty opened at 11,079 slipped marginally to hit its intraday low of 11,075.95. It rose to a record high of 11,171.55 before closing 60 points higher to close at 11,130.40.

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「The Nifty witnessed a small bullish candle but with a slightly longer upper shadow suggesting that market participants preferred to lock in their profits at higher levels as a major economic event in the form of budget is around the corner,」 Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

「More intraday weakness in the next trading session can be expected if the indices trade below 11075 levels for at least one hour whereas selling pressure should get enhanced if indices close below 11000 levels,」 he said.

Mohammad further added that it now appears that for expansion of the rally on the upside, Nifty need one more breakout above 11160 on lower time frame charts which should then take it towards 11400 levels. 「Traders need to place a tight stop below 11000 on a closing basis and prefer to lock in their profits if the stop gets triggered,」 he said.

India VIX moved up by 2.18% at 17.89. Rising volatility suggests volatile swing could continue in the market while the rising Put Call ratio is supporting the overall Bullish trend of the market.

We have collated the top fifteen data points to help you spot profitable trade:

Key Support & Resistance Level for Nifty:

The Nifty closed at 11,130.4 on Monday. According to Pivot charts, the key support level is placed at 11,080.43, followed by 11,030.47. If the index starts to move higher, key resistance levels to watch out are 11,175.93 and 11,221.47.

Nifty Bank:

The Nifty Bank closed at 27,498.4. Important Pivot level, which will act as crucial support for the index, is placed at 27,386.5, followed by 27,274.6. On the upside, key resistance levels are placed at 27,631.2, followed by 27,764.0.

Call Options Data:

Maximum call open interest (OI) of 25.33 lakh contracts stands at strike price 11,000, which will be a crucial base for the January series, followed by 11,500, which now holds 24.69 lakh contracts in open interest, and 11,200, which has accumulated 20.99 lakh contracts in OI.

Call writing was seen at the strike price of 11,000, which saw the addition of 3.61 lakh contracts along with 11,400, which added 3.16 lakh contracts, along with 11,600, which saw the addition of 2.99 lakh contracts.

Call unwinding was seen at strike price of 10,800, which shed 6.13 lakh contracts, followed by 10,900, which shed 1.1 lakh contracts.

Image1

Put Options Data:

Maximum put OI of 34 lakh contracts was seen at strike price 11,000, which will act as a crucial base for January series, followed by 10,800, which now holds 33.67 lakh contracts and 10,700 which has now accumulated 27.37 lakh contracts in open interest.

Maximum Put writing was seen at the strike price of 11,000, which saw the addition of 10.98 lakh contracts, followed by 10,800, which added 7.82 lakh contracts and 10,900, which added 5.82 lakh contracts.

There was hardly any Put unwinding seen.

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FII & DII Data:

Foreign institutional investors (FIIs) bought shares worth Rs 937.31 crore, while domestic institutional investors (DIIs) sold shares worth Rs 965.67 crore in the Indian equity market, as per provisional data available on the NSE.

Fund Flow Picture:

fund flow

Stocks with high delivery percentage:

High delivery percentage suggests that investors are accepting the delivery of the stock, which means that investors are bullish on the stock.

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49 stocks saw long build-up:

Image5

26 stocks saw short covering:

A decrease in open interest along with an increase in price mostly indicates short covering.

Image6

118 stocks saw short build-up:

An increase in open interest along with a decrease in price mostly indicates short positions being built up.

Image7

17 stocks saw long unwinding:

Long unwinding happens when there is a decrease in OI as well as in price.

Image8

Bulk Deals:

 

Bhushan Steel Limited: Earc Trust SC 283 sold 33,12,018 shares at Rs 59.74 per share.

Hindustan Oil Exploration: Poddar Pigments Limited sold 9,87,000 shares at Rs 137 per share

Newgen Software Tech Ltd: Malabar India Fund Limited bought 8,25,038 shares at Rs 252.98 per share

(For more bulk deals click here: https://goo.gl/qrXHCH)

Analyst or Board Meet/Briefings:

The Board of Advanced Enzymes will be meeting on February 6, 2018 to discuss financial results.

Andhra Bank’s board will be meeting on February 8, 2018 to discuss financial results.

Ashok Leyland has called for a conference call on February 2, 2018.

Aegis Logistics will be having a conference call on February 2, 2018 to discuss the financial results.

Stocks in news:

Abbott India: Ranjan Kumar, Independent Director, passed away on January 27, 2018.

Unitech: The company has finalised a deal to sell land worth Rs 400 crore

Tata Power: Anil Sardana Resigns As CEO & MD Of Co For 'Personal Reasons'

Ester Industries: Enters into long term agreement with Shaw Industries Group Inc, USA

Indian Metals & Ferro Alloys: Q3 net profit rises 16.9% At Rs 74.7 Cr Vs Rs 63.9 Cr (YoY)

Wockhardt: The company posted a Q3 loss of Rs 42.6 Cr Vs Rs 60.4 Cr (YoY)

Emami posts 10% rise in Q3 net profit at Rs 147.2 cr; op margin contracts

Tech Mahindra Q3 beats estimates, profit up 13% at Rs 943 cr; EBITDA margin expands 180 bps

1 stock under ban period on NSE

Security in ban period for the next trade date under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.

The security which is banned for trading is JP Associates.​

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