Trade setup for Thursday: Top 15 things to understand prior to Opening Bell

The market removed all its opening gains to trade lower for huge part of the session in the middle of volatility on June 23, ahead of expiry of June futures & & choices contracts.

The BSE Sensex fell 282.63 points to close at 52,306.08, due to selling pressure in metals, IT, choose banking & & financials, FMCG and pharma stocks. The Nifty50 dropped 85.80 indicate 15,687 and formed bearish candle on the daily charts as closing was lower than opening levels.

“A long negative candle was formed, which engulfed the previous small unfavorable candle of Tuesday. This signal weak point with rangebound action. Wednesday’s pattern seems to have actually validated the double top formation based on intraday (60 min) timeframe chart. The unfavorable implication of this intraday double top appears to have priced in partly and some more weak point might be in store,” stated Nagaraj Shetti, Technical Research Expert at HDFC Securities.

Shetty said the brief term pattern of Nifty is weak with rangebound action. “The general market breadth and broad market indices are revealing resilience compared to benchmark Nifty. Today weakness is expected to be over in the next 1-2 sessions and the market could recuperate again from the lows. Immediate assistance is positioned at 15,600 levels,” he said.

The broader markets also fixed with the Nifty Midcap 100 and Smallcap 100 indices falling 0.2 percent and 0.52 percent, respectively.

We have collected 15 information points to assist you find successful trades:

Note: The open interest (OI) and volume data of stocks provided in this story are the aggregates of three-month data and not of the existing month just.

Secret assistance and resistance levels on the Nifty

According to pivot charts, the key assistance levels for the Nifty are positioned at 15,619.67, followed by 15,552.33. If the index moves up, the crucial resistance levels to look out for are 15,808.67 and 15,930.33.

Nifty Bank

The Nifty Bank decreased 171 points to close at 34,574 on June 23. The essential pivot level, which will serve as crucial support for the index, is positioned at 34,420.4, followed by 34,266.8. On the benefit, crucial resistance levels are put at 34,832.6 and 35,091.2 levels.

Call choice data

Optimum Call open interest of 82.05 lakh agreements was seen at 15,800 strike, which will serve as an essential resistance level in the June series.

This is followed by 15,900 strike, which holds 65.40 lakh contracts, and 16,000 strike, which has collected 57.19 lakh agreements.

Call writing was seen at 15,800 strike, which added 30.37 lakh agreements, followed by 15,700 strike which included 16.98 lakh contracts, and 15,900 strike which included 7.7 lakh agreements.

Call relaxing was seen at 16,000 strike, which shed 10.75 lakh agreements, followed by 16,400 strike which shed 1.47 lakh contracts, and 15,500 strike which shed 1.03 lakh contracts.

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Put alternative data Maximum Put open interest of 53.60 lakh contracts was seen at 15,500 strike, which will act as an important assistance level in the June

series. This is followed by 15,600 strike, which holds 47.15 lakh agreements, and 15,000 strike, which has actually built up 32.6 lakh contracts.

Put writing was seen at 15,600 strike, which added 14.39 lakh contracts, followed by 15,500 strike which added 12.05 lakh contracts, and 15,300 strike which included 3.11 lakh contracts.

Put relaxing was seen at 15,800 strike which shed 8.17 lakh agreements, followed by 15,000 strike which shed 6.48 lakh contracts and 14,900 strike which shed 4.7 lakh agreements.

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Stocks with a high delivery portion A high delivery percentage suggests that investors are revealing interest in these stocks.

18 stocks saw long accumulation

A boost in open interest, along with an increase in price, primarily shows an accumulation of long positions. Based upon the open interest future portion, here are the top 10 stocks in which a long accumulation was seen.

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82 stocks saw long unwinding A decrease in open interest, along with a decrease in rate, mainly indicates a long relaxing. Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen. 27 stocks saw brief

accumulation An increase in open interest, along with

a decline in cost, mostly shows an accumulation of short positions. Based on the open interest future portion, here are the leading 10 stocks in which a short accumulation was seen.< img class= "aligncenter wp-image-7078791 size-full

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/ > 32 stocks saw short-covering A decrease in open interest, together with a boost in rate, mainly shows a short-covering. Based upon the open interest future portion, here are the top 10 stocks in which short-covering was seen.

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Bulk deals One Point One Solutions: Jyotika Deepak Shenoy acquired extra 1.39 lakh equity shares in the business at Rs 24.65 per share on the NSE, the bulk deals data revealed.

UFO Moviez India: P5 Asia Holding Investments (Mauritius) offered 21,34,452 equity shares in UFO at Rs 92.55 per share on the NSE, and 5.4 lakh shares at Rs 92.4 per share on the BSE. Visa Capital Partners acquired 2.5 lakh shares at Rs 95.7 per share on the NSE, the bulk offers data showed.

Nureca: Hornbill Orchid India Fund bought 1,95,766 equity shares in Nureca at Rs 1,549.97 per share on the BSE, the bulk deals information revealed.

Starlog Enterprises: Subrata Kumar Sao got 2,07,000 equity shares in the business at Rs 11.82, whereas Eastspring Investments India Infrastructure Equity Open sold 3,17,431 equity shares at Rs 11.43 per share on the BSE, the bulk offers information showed.

United Breweries: Heineken International B V got 3,96,44,346 equity shares in UBL at Rs 1,471.25 per share. Nevertheless, Recovery Officer I DRT II was the seller in a deal on the BSE, the bulk offers information revealed.

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(For more bulk offers, click here)Results on June 24

, and Analysts/Investors Fulfilling Outcomes on June 24: Oil and Gas Corporation, Ashok Leyland, Allied Computers International, Bodal Chemicals, CL Educate, Deep Industries, Everest Kanto Cylinder, Essar Shipping, Future Supply Chain Solutions, Mishra Dhatu Nigam, Mudra Financial Providers, PTC India, South India Paper Mills, Sundaram Multi Pap, Take Solutions, Thangamayil Jewellery, and West Coast Paper Mills will release their quarterly profits on June 24.

Gokaldas Exports: The company’s officials will satisfy Abakkus Invest, Canara HSBC Life, and PGIM on June 24.

Matrimony.com: The business’s authorities will satisfy analysts/investors at Motilal Oswal Ideation Conference on June 24.

Sastasundar Ventures: The company’s officials will satisfy analysts/investors at Motilal Oswal Ideation Conference on June 24.

Blue Star: The company’s officials will meet analysts/investors at Centrum Securities Roadshow Virtual Meeting on June 24.

Hindalco Industries: The company’s authorities will fulfill Franklin Templeton Possession Management on June 24.

Rajratan International Wire: The company’s officials will meet Kotak Mutual Fund on June 24.

PNC Infratech: The company’s authorities will fulfill Dolat Analysis & & Research Study Themes (DART) on June 28.

Stocks in News

Sharda Motor Industries: The company reported consolidated revenue of Rs 25.91 crore for Q4FY21 versus Rs 6.19 crore in Q4FY20, revenue leapt to Rs 604.16 crore from Rs 237.07 crore YoY. The company authorized the joint endeavor in between Sharda Motor Industries, and Kinetic Green Energy and Power Solutions.

Andrew Yule & & Business: The business reported combined loss at Rs 16.56 crore in Q4FY21 against loss of Rs 30.34 crore in Q4FY20, earnings leapt to Rs 57.99 crore from Rs 41.92 crore YoY.

Allcargo Logistics: The company reported lower combined revenue at Rs 5.91 crore in Q4FY21 against Rs 54.06 crore in Q4FY20, income jumped to Rs 3,349.31 crore against Rs 1,870.96 crore YoY.

Speciality Dining establishments: The business reported consolidated earnings of Rs 8.43 crore in Q4FY21 against loss of Rs 37.11 crore in Q4FY20, profits was up to Rs 65.42 crore from Rs 75.41 crore YoY.

Godawari Power and Ispat: Federal government of India, Ministry of Environment & & Forests & Climate Change, Impact Assessment Division has accorded its environment clearance for enhancement of iron ore production capacity from 1.405 MTPA to 2.35 MTPA in Ari Dongri Iron Ore Mines at Chhattisgarh, and for establishing of beneficiation plant of 0.6 MTPA capability.

Orchid Pharma: Promoter Dhanuka Laboratories proposed to offer 32,80,115 equity shares, representing 8.04% of total paid-up equity via market, on June 24 and June 25.

Fund flow

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FII and DII information Foreign institutional financiers (FIIs) net purchased shares worth Rs 3,156.53 crore, while domestic institutional investors (DIIs) net acquired shares worth Rs 1,317.20 crore in the Indian equity market on June 23, based on provisional information readily available on the NSE.

Stocks under F&O ban on NSE

2 stocks – Vodafone Concept, and Sun TELEVISION Network – are under the F&O restriction for June 24. Securities in the ban period under the F&O sector consist of business in which the security has actually crossed 95 percent of the market-wide position limit.Published at Wed,
23 Jun 2021 16:42:34 +0000