Trade Setup for Wednesday: Top 15 things to know before Opening Bell

 

Fears of a coronavirus-induced global recession once again lopped off early gains as benchmark indices on March 17 logged in heavy losses for the fourth consecutive session.

Equity barometer Sensex failed to hold intraday gains and closed with losses due to fag-end selling.

The 30-share pack closed with a loss of 811 points, or 2.58 percent, at 30,579.09 while Nifty ended 230 points, or 2.50 percent, down at 8,967.05.

BSE Midcap and Smallcap indices closed 1.84 percent and 2.27 percent down, respectively.

“Markets across the globe are witnessing high volatility and the recent stimulus measures have failed to assuage the fears of investors. On the domestic front, the market will continue to follow the global cues and therefore further downside cannot be ruled out in the near-term. In these uncertain times, we suggest market participants avoid risky bets and start investing in a phased manner,” said Ajit Mishra, VP – Research, Religare Broking.

We have collated 15 data points to help you spot profitable trades:

Note: The OI and volume data of stocks given in this story are the aggregates of the three-months data and not of the current month only.

Key support and resistance level for Nifty

According to the pivot charts, the key support level for Nifty is placed at 8787.17, followed by 8607.28. If the index moves up, key resistance levels to watch out for are 9275.37 and 9583.68.

Nifty Bank

Nifty Bank closed with a massive loss of 4.10 percent at 22,155.15. The important pivot level, which will act as crucial support for the index, is placed at 21621.64, followed by 21088.07. On the upside, key resistance levels are placed at 23069.14 and 23983.07.

Call options data

Maximum call open interest (OI) of 7.73 lakh contracts was seen at the 9,500 strike price. It will act as a crucial resistance level in the March series.

This is followed by 9,000 strike price, which holds 6.20 lakh contracts in open interest, and 8,500, which has accumulated 2.83 lakh contracts in open interest.

Significant call writing was seen at the 9,000 strike price, which added 1.33 lakh contracts, followed by 9,200 strike price that added 1.13 lakh contracts.

Call unwinding was witnessed at 9,500 strike which shed 1.65 lakh contracts.

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Put options data

Maximum put open interest of 21.73 lakh contracts was seen at 8,500 strike price, which will act as crucial support in the March series.

This is followed by 9,000 strike price, which holds 20.77 lakh contracts in open interest, and 9,500 strike price, which has accumulated 14.85 lakh contracts in open interest.

Put writing was seen at the 8,500 strike price, which added 9.5 lakh contracts.

Put unwinding was seen at 9,500 strike price, which shed 6.59 lakh contracts, followed by 9,300 strike price which shed 1.2 lakh contracts.

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Stocks with a high delivery percentage

A high delivery percentage suggests that investors are showing interest in these stocks.

High delivery

12 stocks saw long build-up

Long buildup

60 stocks saw long unwinding

Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.

Long unwinding

41 stocks saw short build-up

An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions. Based on open interest (OI) future percentage, here are the top 10 stocks in which short build-up was seen.

Short buildup

32 stocks witnessed short-covering

A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on open interest (OI) future percentage, here are the top 10 stocks in which short-covering was seen.

Short covering

Bulk deals

Bulk Deals

(For more bulk deals, click here)

Board meetings

Larsen & Toubro: The board will meet on March 18 to consider and approve the interim dividend.

Supreme Infrastructure: The board will meet on March 18 to consider and approve quarterly results.

SMS Pharmaceuticals: The board will meet on March 18 to consider and approve the interim dividend.

S H Kelkar and Company: The board will meet on March 18 to consider and approve the interim dividend.

RPG Life Sciences: The board will meet on March 18 to consider and approve the interim dividend.

PPAP Automotive: The board will meet on March 18 to consider and approve the interim dividend.

Piramal Enterprises: The board will meet on March 18 to consider and approve the interim dividend.

HUDCO: The board will meet on March 18 to consider and approve the interim dividend.

Stocks in news

Take Solutions: CARE Rating reaffirmed issuer rating at AA- with a stable outlook.

Vakrangee: Company introduced vHealth by Aetna primary care services through its network of Vakrangee Kendras.

Avenue Supermarts: 1,000 secured rated unlisted redeemable non-convertible debentures of Rs 100 crore redeemed.

Cambridge Technology: Company to sell subsidiaries to Tumuluru Sreenivasa Sastry & Prashanth Kumar Mettu.

Wipro: Company implemented core banking solution for Canara Bank sponsored Regional Rural Bank (RRB).

FII and DII data

Foreign institutional investors (FIIs) sold shares worth Rs 4,044.69 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 3,422.12 crore in the Indian equity market on March 17, provisional data available on the NSE showed.

Fund flow

Fund flow

Stock under F&O ban on NSE

There is no stock under the F&O ban for March 18. 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.

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