15 things to know before opening the bell

The market is expected to continue its upward journey given the formation of Bullish Hammer candlestick pattern (bullish reversal pattern formed on a downtrend) on the daily chart and strong intraday trend reversal in the previous session. Hence, Nifty 50 may face hurdles at higher levels at 22,200-22,300 and if the index manages to close decisively above 22,300 then it may move north towards 22,500-22,600 with support at 22,000-21,900 levels. Travel towards is possible, experts said.

On May 13, the benchmark indices extended their bullish trend for another session. BSE Sensex was up 112 points at 72,776, while Nifty closed 49 points higher at 22,104 after recovering 283 points from its 50-day low.

Vinay Rajani, CMT, Senior Technical/Derivatives Analyst, HDFC Securities, said, “At higher levels, the band 22,300-22,320 may act as a resistance, while the low of 21,821 registered on May 13 will act as support for the Nifty in the near term. shall remain.” Said.

According to Osho Krishnan, Senior Analyst – Technical and Derivatives Research at Angel One, the hammer candlestick formation on the daily chart after a series of sell-offs is indicating a reversal pattern, but it is too early to claim this, and a follow-up Up session required for confirmation.

On the level-specific front, he said a range of support could be seen around 22,000-21,900, followed by sacred support of 89 DEMA around the 21,800 area. At higher levels, “22,200-22,300 is likely to act as intermediate resistance, and a sustainable cross could only trigger a fresh round of longs in the system,” he said.

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Going forward, Osho will remain cautious amid increased volatility, which could be confusing and trap traders on both sides.

India VIX, the fear gauge, doubled from 10.2 on April 23 to 20.6 on May 13, indicating that the trend is still in favor of bears and bulls are now in an uncomfortable position.

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Here are 15 data points we collected to help you spot profitable trades

Key support and resistance levels on Nifty and Bank Nifty

Pivot point calculator indicates that Nifty 50 may find immediate support at 21,900 levels, followed by 21,827 and 21,708 points. At higher levels, the index is expected to face resistance at 22,138 levels, followed by 22,211 and 22,330 points.

Meanwhile, Bank Nifty closed in the green for the first time in the last nine consecutive sessions, rising 333 points to 47,754, and remained bullish with a long lower shadow on the daily chart after defending the 100-day EMA (Exponential Moving Average). Created candlestick patterns from. As a rising support trendline.

Technical Jatin Gedia said, “Banking index has managed to hold the rising support trendline and lower end of the rising channel at 47,300. We expect a relief rally in Bank Nifty towards 48,480 – 48,500 from a short term perspective.” said a research analyst at Sharekhan by BNP Paribas.

According to the pivot point calculator, the Bank Nifty index is likely to find support at 47,198, followed by 46,996 and 46,668. At higher levels, the index may see resistance at 47,854, followed by 48,057 and 48,385.

call option data

According to weekly options data, maximum call open interest stood at 23,000 strike with 62.81 lakh contracts. This level may act as a major resistance for Nifty in the short term. This was followed by a strike of 22,500, which had 52.41 lakh contracts, while a strike of 22,300 had 47.99 lakh contracts.

Meaningful call writing was seen at 22,600 strikes, which saw an increase of 11.33 lakh contracts. This was followed by 22,400 and 22,300 strikes, which added 9.57 lakh and 8.55 lakh contracts.

Maximum call unwinding was seen at 23,000 strike which saw 5.63 lakh contracts shorted, followed by 23,200 and 22,900 strikes which saw 4.2 lakh and 3.44 lakh contracts shorted respectively.

enter option data

On the Put side, there is maximum open interest near the 21,000 strike, which could act as a key support level for Nifty with 57.55 lakh contracts. This was followed by 21,500 strikes involving 44.78 lakh contracts and then 22,000 strikes involving 40.29 lakh contracts.

Maximum put writing was seen at 21,800 strike, adding 13.79 lakh contracts, followed by 21,500 and 21,900 strikes, adding 11.82 lakh and 10.59 lakh contracts respectively.

Put unwinding was seen at the 22,000 strike, with 5.3 lakh contracts liquidated. This was followed by 22,500 and 20,600 strikes with a shortfall of 2.64 lakh and 1.4 lakh contracts respectively.

Stocks with high delivery percentage

A high delivery percentage indicates investor interest in a stock. Ipca Laboratories, HCL Technologies, Dabur India, Infosys and SBI Life Insurance Company saw highest deliveries among F&O stocks.

Long build-up seen in 64 stocks

Long gains were seen in 64 stocks including Cipla, Astral, Siemens India, Aditya Birla Capital and Dr Lal PathLabs. Open interest (OI) and a rise in price indicate the creation of a long position.

Long buying is seen in 23 stocks

On OI percentage basis, 23 stocks witnessed prolonged decline, including Hindustan Copper, Hero MotoCorp, Maruti Suzuki India, State Bank of India and Punjab National Bank. Open interest and price decline indicate a long unwinding.

Short build-up was seen in 37 stocks

Short build-up was seen in 37 stocks including Piramal Enterprises, Tata Motors, Dixon Technologies, Bharat Electronics and Shriram Finance. An increase in OI along with a fall in price indicates the creation of short positions.

Short covering is being seen in 62 stocks

On OI percentage basis, short-covering was seen in 62 stocks, which included JK Cement, Gujarat Gas, Jindal Steel & Power, Bank of Baroda and ABB India. A decrease in OI along with a price increase is a sign of short-covering.

put-call ratio

The Nifty put-call ratio (PCR), which reflects market mood, hit 0.97 on May 13, up from 0.91 in the previous session.

A PCR increasing or exceeding 0.7 or greater than 1 means that traders are selling more put options than call options, which generally indicates strengthening bullish sentiment in the market. If the ratio falls below 0.7 or rises toward 0.5, it indicates that selling in calls exceeds selling in puts, indicating a bearish mood in the market.

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Results on 14th May

Bharti Airtel, Shree Cement, Siemens, Apollo Tyres, Bajaj Electricals, Colgate-Palmolive (India), Bharti Hexacom, PVR Inox, BLS International Services, Devyani International, IdeaForge Technology, Oberoi Realty, Patanjali Foods and V-Mart Retail will release. March quarter earnings on May 14.

stock in news

Shriram Finance:The company said its board members have approved the sale of its housing finance subsidiary Shriram Housing Finance (SHFL) to global investor Warburg Pincus for Rs 4,630 crore. Warburg Pincus will acquire the stake from all the sellers through its affiliate Mango Crest Investments.

DLF: The real estate major has reported a massive 61.5 per cent growth in consolidated net profit at Rs 920.7 crore for the quarter ended March FY24 on the back of strong topline and operating numbers. Revenue from operations increased 46.6 percent year-on-year to Rs 2,135 crore in the quarter.

Jindal Steel and Power: The company has reported a consolidated net profit of Rs 933.5 crore for the March quarter of FY24, an increase of 100.5 per cent compared to the same period last fiscal despite lower income, driven by increased operating margins from lower input costs. Received assistance from. Profit in Q4FY23 was hit by extraordinary loss of Rs 153.5 crore. Revenue from operations declined 1.5 percent year-on-year to Rs 13,487 crore in the quarter.

Cochin Shipyard:The company has received a large order (in the range of Rs 500-1,000 crore) from a European customer for the design and construction of a Hybrid Service Operation Vessel (Hybrid SOV) with an option for two more such vessels.

Rail Vikas Nigam: The company has received letter of acceptance from Southern Railway for provision of Automatic Block Signaling System from Jolarpettai Junction to Erode Junction of Salem Division in Southern Railway. The order worth Rs 239.1 crore is expected to be executed within 12 months.

Fund Flow (Rs. Crore)

FII and DII data

According to provisional NSE data, foreign institutional investors (FIIs) sold shares worth a net Rs 4,498.92 crore on May 13, while domestic institutional investors (DIIs) sold shares worth Rs 3,562.75 crore.

Stocks under F&O ban on NSE

NSE has added Piramal Enterprises to the F&O ban list for May 14, while retaining Balrampur Sugar Mills, Canara Bank, GMR Airports Infrastructure, Hindustan Copper, Vodafone Idea, Punjab National Bank, SAIL and Zee Entertainment Enterprises in the said list. .

Securities restricted under the F&O segment include those companies where derivative contracts exceed 95 per cent of the market-wide position limit.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.

Disclosure: MoneyControl is a part of Network18 Group. Network18 is controlled by the Independent Media Trust, of which Reliance Industries is the sole beneficiary.

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