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

Trade Setup for Monday: Top 15 things to know before Opening Bell
September 03
00:29 2018

The Nifty, after opening gap down traded in a large range of around 90 points throughout the Friday session, before and closing flat with a positive bias. The consolidation for last three consecutive sessions last week indicated that traders had turned cautious after a sharp run and ahead of Q1 GDP data due later that day.

The index made small bullish candle and formed ‘Long Legged Doji’ pattern on the daily charts. On the weekly charts, it formed ‘Shooting Star’ kind of pattern.

A typical long-legged Doji pattern is formed when the opening price is almost equal to the closing price but there was a lot of intraday movement on either side. A ‘Shooting Star’ pattern is formed when the index comes under selling pressure as traders start booking profits at higher levels.

This pattern is usually formed in an uptrend and is treated as a reversal pattern, but it would require confirmation before it can be concluded that the trend could reverse in the near future.

Friday’s battle between the bulls and bears comes after a few positive days earlier during the week.

“The Nifty50 appears to be chalking out a consolidation zone between 11,760–11,640 levels as it recoiled on Friday after testing critical supports placed on short term charts,” Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.

He said post Friday’s price action favours bulls and hence, if the Nifty sustains above 11,640 levels, there is a fair chance of testing 11,760 in the next couple of sessions.

Unless the index closes below 11,628, bears will not able snatch the game away from bulls, he said. According to him, in case if 11,760 is decisively cleared, next target would be close to 11,950 kind of levels.

Hence, traders should focus on stock-specific opportunities with a stop below 11,640 on a closing basis, Mazhar advised.

India VIX increased 2.17 percent to 12.68 levels.

Here are the top 15 data points to help you spot profitable trades:

Key support and resistance level for Nifty

The Nifty closed at 11,680.50 on Friday. According to Pivot charts, the key support level is placed at 11,637.83, followed by 11,595.17. If the index starts moving upwards, key resistance levels to watch out are 11,725.43 and 11,770.37.

Nifty Bank

The Nifty Bank index closed at 28,061.75, down 41.50 points on Friday. The important Pivot level, which will act as crucial support for the index, is placed at 27,949.37, followed by 27,836.93. On the upside, key resistance levels are placed at 28,165.77, followed by 28,269.73.

Call Options Data

Maximum call open interest (OI) of 27.43 lakh contracts was seen at the 11,800 strike price. This will act as a crucial resistance level for September series.

This was followed by the 12,000 strike price, which now holds 26.39 lakh contracts in open interest, and 11,700, which has accumulated 20.53 lakh contracts in open interest.

Call writing was seen at the strike price of 12,000, which added 5.02 lakh contracts, followed by 11,800 which added 4.91 lakh contracts and 11,700 which added 3.96 lakh contracts.

There was hardly any Call unwinding seen.

Image231082018

Put Options data

Maximum put open interest of 32.42 lakh contracts was seen at the 11,600 strike price. This will act as a crucial support level for September series.

This was followed by the 11,500 strike price, which now holds 31.76 lakh contracts in open interest, and the 11,400 strike price, which has now accumulated 29.87 lakh contracts in open interest.

Put writing was seen at the strike price of 11,600, which added 7.06 lakh contracts in open interest, followed by 11,500 which added 5.01 lakh contracts and 11,700 which added 3.62 lakh contracts.

There was hardly any Put unwinding seen.

Image331082018

FII & DII data

Foreign institutional investors (FIIs) sold shares worth Rs 212.81 crore while domestic institutional investors bought shares worth Rs 171.92 crore in the Indian equity market on Friday, as per provisional data available on the NSE.

Fund Flow Picture:

Image431082018

Stocks with high delivery percentage:

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

Image531082018

91 stocks saw long buildup

Image631082018

30 stocks saw short covering

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

Image731082018

67 stocks saw a short build-up

An increase in open interest along with a decrease in price mostly indicates a build-up of short positions.

Image831082018

21 stocks saw long unwinding

Image931082018

Bulk Deals

Cerebra Integrated Technologies: Societe Generale bought 10,00,000 shares of the company at Rs 41.5 per share.

Vakrangee: DB International Asia bought 68,31,186 shares of the company at Rs 38.52 per share and Integrated Core Strategies (Asia) Pte Ltd purchased 63,92,960 shares at Rs 39 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

TCS: Company’s officials are participating in 25th CLSA Investors’ Forum on September 10 & 11 in Hong Kong, J P Morgan India Investor Summit on September 19 in New Delhi, and meeting Wellington International Management on September 6 in Mumbai.

Tata Power Company: Company’s management represented by Praveer Sinha, CEO and Managing Director and Ramesh Subramanyam, CFO are scheduled to meet several investors in one-on-one meetings between September 3 to September 5, 2018.

Sun Pharma: Annual General Meeting of the company to be held on September 26.

Mindtree: Company has organised its Investor and Analyst Meet, 2018 at Mumbai on September 3.

Trident: Company’s officials are participating in Ashwamedh – Elara India Dialogue organised by Elara Capital on September 3.

KEC International: Company’s officials are meeting Elara Securities India on September 4.

JMC Projects: Company’s officials are participating in Ashwamedh – Elara India Dialogue organised by Elara Capital on September 3.

Lemon Tree Hotels: Company’s management is scheduled to meet investors in New York and Boston, USA on September 4-5 at the Kotak International Conference, India Corporate Day.

GMR Infrastructure: Annual General Meeting of the company to be held on September 21.

Reliance Home Finance: The meeting of the board of directors of the company will be held on September 10 to consider unaudited financial results for the quarter ended June 2018.

Tourism Finance Corporation of India: The meeting of the board of directors of the company will be held on September 12 to consider unaudited financial results for the quarter ended June 2018.

Equitas Holdings: Company’s officials are attending Invest India Conference during September 3-7 in London and New York.

Jyoti: Annual General Meeting of the company to be held on September 27.

TD Power Systems: Annual General Meeting of the company to be held on September 26.

Jubilant Life Sciences: Annual General Meeting of the company to be held on September 26.

Shalimar Paints: Annual General Meeting of the company to be held on September 26.

GTL Infrastructure: Annual General Meeting of the company to be held on September 27.

Atul Auto: Annual General Meeting of the company to be held on September 28.

Talwalkars Better Value Fitness: Annual General Meeting of the company to be held on September 27.

East India Securities: Annual General Meeting of the company to be held on September 28.

63 Moons Technologies: Annual General Meeting of the company to be held on September 27.

Duke Offshore: Annual General Meeting of the company to be held on September 27.

Jaihind Projects: Annual General Meeting of the company to be held on September 29.

Asian Granito: Annual General Meeting of the company to be held on September 18.

Nagarjuna Fertilizers and Chemicals: Annual General Meeting of the company to be held on September 29.

Southern Gas: Annual General Meeting of the company to be held on September 26.

Amrapali Fincap: Annual General Meeting of the company to be held on September 29.

Shakti Pumps (India): Annual General Meeting of the company to be held on September 27.

Just Dial: Annual General Meeting of the company to be held on September 28.

Dhanlaxmi Bank: Annual General Meeting of the company to be held on September 27.

Nagarjuna Oil Refinery: Annual General Meeting of the company to be held on September 29.

Share India Securities: Annual General Meeting of the company to be held on September 29.

Ajcon Global Services: Annual General Meeting of the company to be held on September 26.

SAIL: Annual General Meeting of the company to be held on September 20.

Parag Milk Foods: Annual General Meeting of the company to be held on September 19.

Triveni Engineering: Annual General Meeting of the company to be held on September 28.

Kalpataru Power Transmission: Company’s officials are meeting Tata Asset Management on September 3.

Polyplex Corporation: Annual General Meeting of the company to be held on September 29.

PBA Infrastructure: Annual General Meeting of the company to be held on September 28.

Rollatainers: Annual General Meeting of the company to be held on September 28.

Confidence Petroleum: Annual General Meeting of the company to be held on September 28.

Mangalam Drugs: Annual General Meeting of the company to be held on September 25.

Ramky Infrastructure: Annual General Meeting of the company to be held on September 25.

Birla Precision Technologies: Annual General Meeting of the company to be held on September 27.

Eros International Media: Annual General Meeting of the company to be held on September 27.

Sequent Scientific: Annual General Meeting of the company to be held on September 27.

Premier Explosives: Annual General Meeting of the company to be held on September 27.

OCL Iron and Steel: Annual General Meeting of the company to be held on September 24.

Nagarjuna Oil Refinery: Annual General Meeting of the company to be held on September 29.

Oswal Agro Mills: Annual General Meeting of the company to be held on September 27.

Gujarat State Petronet: Annual General Meeting of the company to be held on September 28.

Pritish Nandy Communications: Annual General Meeting of the company to be held on September 24.

Ajmera Realty & Infra: Annual General Meeting of the company to be held on September 21.

Sarda Energy & Minerals: Company’s officials are meeting several analysts and investors during August 31 and September 5.

Precision Camshafts: Company’s officials are meeting with institutional investors/analyst in a non-deal road show on September 3 and 4 in Mumbai.

JK Paper: Company’s officals are meeting several funds/investors on September 4.

Bajaj Electricals: Company will participate in the investor interaction/meet, organised by Emkay and Ambit, on September 4 in Mumbai.

NOCIL: Company’s officials will be participating in a Non-Deal Roadshow (NDR) organised by IDFC Securities to meet investors on September 3.

HEG: Senior Management of the company will be participating at Elara India Dialogue 2018, organised by Elara Capital in Mumbai on September 4.

Stocks in news

August Sales
TVS Motor Company: Total sales up 8 percent at 3.43 lakh units versus 3.17 lakh units (YoY)
Escorts: Total tractor sales up 4.9 percent at 4,812 units versus 4,587 units (YoY)
Eicher Motors: Total VECV sales up 32.8 percent at 6,069 units versus 4,571 units (YoY)
Eicher Motors: Total Royal Enfield sales up 2 percent at 69,377 units versus 67,977 units (YoY)
Tata Motors: Total sales up 27 percent at 58,262 units versus 45,906 units (YoY)
M&M: Total Auto sales up 14 percent at 48,324 units versus 42,207 units (YoY)
Ashok Leyland: Total sales up 27 percent at 17,386 units versus 13,637 units (YoY)
Maruti Suzuki: Total sales down 3.4 percent at 1.58 lakh units versus 1.63 lakh units (YoY)
Atul Auto: Total sales up 10.12 percent at 4,430 units versus 4,023 units (YoY)

SML Isuzu: Total sales of 744 vehicles in August 2018 against 541 vehicles in August 2017.

Larsen & Toubro Infotech: L&T to sell 59 lakh shares (representing 3.41 percent of total paid up equity) of the company through offer for sale on September 3 and 4, with an option to additionally sell 46,27,288 equity shares representing 2.67 percent of paid up equity. Floor price of the offer will be Rs 1,700 per share.

Vedanta: KK Kaura has resigned from the post of Interim Chief Executive Officer of company.

Britannia Industries: LIC increased its stake in the company by 0.014 percent to 5.009 percent.

BHEL: CRISIL has revised company’s outlook to Stable from Negative while affirmed the rating for bank facilities at AA+.

GIC Housing Finance: Q1 profit rises to Rs 49.45 crore versus Rs 46.18 crore; total income rises to Rs 292.9 crore versus Rs 274.6 crore (YoY).

Ramky Infrastructure: Company sold shareholding in NAM Expressway to Cube Highways Pte.Ltd., Singapore for Rs 140 crore. The sale proceeds will be used to reduce the debt of the company. Consequent to the sale, consolidated debt of the company will be reduced by about Rs 1,389 crore.

HCL Technologies: Sciencelogic and HCL Technologies partnered to bring Aiops to global enterprise customers.

Graphite India: Company’s wholly owned subsidiary in Netherlands has signed an investment agreement for acquisition of upto 46 percent stake in General Graphene Corporation, an unlisted US company involved in development of Graphene for commercial applications, for $ 18.595 million.

MOIL: Company increased prices of ferro grade ore by about 5 percent, retained prices of SMGR, Chemical Grade and Fines; cut prices by 10 percent of specific grade of material i.e. BGL523, DBL456 & DBL457. On sales of BGF534, existing discount of 5 percent during August, 2018 is increased to 10 percent for dispatches during September’2018.

JSW Steel: As per resolution plan submitted by the consortium of JSW Steel and AION Investments Private II Limited, company’s shareholding in Monnet Ispat and Energy stood at 23.1 percent. Consortium members holding stood at 74.3 percent.

Godrej Consumer Products: Company through its subsidiary has divested its entire stake in Godrej Consumer Products (UK) Ltd for 34 million pound. Buyer is US-based PE firm JZ International.

Idea Cellular: Company submitted shareholding Pattern for the period ended August 31, 2018.

Idea Cellular: Name of the company changed from Idea Cellular to Vodafone Idea.

Religare Enterprises: Company submitted shareholding Pattern for the period ended August 27, 2018.

Mahindra Logistics: Company appointed Yogesh Patel as Chief Financial Officer and Key Managerial Personnel.

Satin Creditcare Network: CRISIL assigned A1 to company’s proposed short term bank loan facility worth Rs 200 crore.

LT Foods: Company approved the proposed investment of up to Rs 140 crore by India Agri Business Fund II Limited in Nature Bio Foods Limited, a wholly owned subsidiary of the company, in one or more tranches.

Khadim India: Company has issued the Commercial Paper for an aggregate amount of Rs 30 crore.

Trident Texofab: Company has commenced commercial operation of embroidery and stitching unit at Surat from September 1.

Man Infraconstruction: Board has declared interim dividend of Rs 1.26 per share; record date fixed as September 14.

TVS Electronics: Company informed about resignation of Prakash Katama, Chief Executive Officer (Key Managerial Personnel) with effect from September 30, 2018.

Dharani Sugars: The company has submitted Resolution Plan to the Lenders on its proposal for restructuring its debts to match with the projected cash flows and the same is under discussion with the banks and institutions.

Orient Abrasives: After persistent efforts of the management, the issue with the workers/labourer have been settled and resolved amicably and that the operations of the company have resumed from August 31.

Essel Propack: Nikhil Dujari resigned as Chief Financial Officer. Company assigned function of CFO to Vinay Mokashi, Financial Controller

of the company for interim period.

Everest Industries: Company appointed Nikhil Dujari as Chief Financial Officer.

Advance Syntex: Board approves migration of the company from SME Platform to Main Board of BSE Limited.

Solara Active Pharma Sciences: Company completed acquisition of Strides Chemicals Private Limited from Strides Pharma Science and it becomes a wholly owned subsidiary of Solara Active Pharma Sciences.

Patel Integrated Logistics: India Ratings affirmed long term credit rating ‘BBB’ [outlook stable] for company’s fund based borrowings, finance lease and term loan and ‘A3+’ [outlook stable] rating for its non fund based borrowings from the banks.

Pioneer Embroideries: Nawal Sharma resigned from the post of Chief Financial Officer and Key Managerial Personnel of the company.

Umang Dairies: Sh. C. Venugopal resigned as Chief Financial Officer of the company.

No stocks under ban period on NSE

Securities in ban period for the next day’s trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

For September 3, not a single stock is present in this list.

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