15 things to know before opening the bell

The market recorded a strong rebound from its 50-day EMA (Exponential Moving Average) which stood at around 19,550 and formed a bullish candlestick pattern with a long lower shadow, which is in a downtrend on the daily time frame on September 27. Looks like the formation of a bullish engulfing pattern. Indicating a reversal. Hence, Nifty 50 may face hurdles at 19,800-20,000 levels with support at 19,600-19,500 in the coming sessions.

Ahead of the monthly F&O expiry on September 28, after strengthening in the last two sessions, BSE Sensex rose 173 points to 66,119, while Nifty 50 was up 52 points at 19,716.

“Technically, Wednesday’s market activity is indicating the formation of a bullish engulfing pattern. Typically such patterns are followed by a proper decline or near the support underlying post confirmation bullishness,” said Nagaraj Shetty, technical research analyst at HDFC Securities. indicate the possibility of.”

After limited volatility over the past few sessions, the market showed a false negative breakout of the range before witnessing a sharp intraday upside bounce early on Wednesday. Therefore, according to Shetty, there is more possibility of a breakout above the narrow range at 19,750 levels.

He said a follow-through upmove could confirm a short-term higher bottom reversal pattern. “Immediate support is placed around 19,600-19,550 levels and a decisive move above the 19,750 level hurdle may pull Nifty towards 19,950-20,000 levels.”

Broader markets also traded higher, although breadth was not strong enough. Nifty Midcap 100 index jumped 0.75 percent and Smallcap 100 index jumped nearly 1 percent.

We’ve collected 15 data points to help you spot profitable trades:

Note: The open interest (OI) and volume data of the stock is an aggregate of three months’ data and not just the current month.

Key support and resistance levels on Nifty

Pivot point calculator indicates that Nifty may find support at 19,600, followed by 19,558 and 19,490. At higher levels, 19,735 could be immediate resistance, followed by 19,776 and 19,844.

nifty bank

On September 27, Bank Nifty also recovered losses of over 400 points from the day’s low and closed with a marginal loss of 36 points at 44,588 before monthly futures and options expiry, creating a trend with a long lower shadow. A bullish candlestick pattern was formed. The slight upper shadow on the daily scale indicates buying at lower levels.

Bank Nifty bulls displayed resilience by defending the key support level of 44,200, which coincides with the rising trendline support. However, the index is currently trading below its 20-day moving average (20DMA) at 45,000. “A decisive break above this level could trigger significant short-covering,” said Kunal Shah, senior technical and derivatives analyst at LKP Securities.

At present Bank Nifty is trading in the range of 44,200 to 45,000. He believes that trending moves are likely to be triggered by clear breaks on either side of this range.

Still, within this range, the overall sentiment remains bullish, which suggests a “buy on dips” approach may be favorable, Kunal advised.

According to the pivot point calculator, the banking index is expected to find support at 44,294, followed by 44,180 and 43,994. On the positive side, initial resistance lies at 44,665, then at 44,780 and 44,965.

call option data

Options data suggested that maximum weekly call open interest (OI) was seen at 19,800 strike with 1.5 crore contracts, which could act as a key resistance for Nifty. After this, 19,900 strikes had 1.13 crore contracts, while 20,000 strikes had 1.1 crore contracts.

Meaningful call writing was seen at 19,900 strike, which added 22.02 lakh contracts, followed by 19,800 and 19,500 strikes, which added 17.13 lakh and 5.34 lakh contracts.

Maximum call unwinding was at 20,100 strike, in which 19.86 lakh contracts were shorted, followed by 20,500 strike and 20,200 strike, in which 13.71 lakh contracts were shorted and 9.69 lakh contracts were liquidated.

enter option data

On the put side, maximum open interest stood at 19,600 strike with 1.31 crore contracts. This can be an important support for Nifty in the coming sessions.

This was followed by 19,500 strikes involving 1.24 crore contracts, and 19,700 strikes involving 1.06 crore contracts.

Meaningful put writing was at 19,600 strike, which added 43.66 lakh contracts, followed by 19,700 strike and 19,500 strike, which added 38.88 lakh and 38.41 lakh contracts.

Put unwinding was at 19,800 strike in which 6.17 lakh contracts were shorted, followed by 19,900 strike and 20,000 strike in which 4.34 lakh and 2.47 lakh contracts were shorted.

Stocks with high delivery percentage

High delivery percentage shows that investors are showing interest in the stock. Max Financial Services, UltraTech Cement, InterGlobe Aviation, Bharti Airtel and Mahindra & Mahindra have seen highest deliveries among F&O stocks.

Long rise is being seen in 55 stocks

Long gains were seen in 55 stocks including Escorts, Max Financial Services, REC, Balkrishna Industries and BHEL. Open interest (OI) and a rise in price indicate the creation of a long position.

Long buying is seen in 28 stocks

On OI percentage basis, a total of 28 stocks including Ramco Cements, Titan Company, Eicher Motors, India Cements and Trent witnessed prolonged decline. Open interest and price decline indicate a long unwinding.

Short build-up seen in 23 stocks

Minor gains were seen in 23 stocks including Gujarat Gas, Colgate Palmolive, Vedanta, Hindustan Aeronautics and ICICI Lombard General Insurance Company. An increase in OI along with a fall in price indicates creation of short positions.

Short covering is being seen in 82 stocks

On an OI percentage basis, 82 stocks were on the short-covering list. These include Hindustan Copper, Naveen Fluorine International, Balrampur Chini Mills, Delta Corp and Apollo Tyres. A decrease in OI with price increase is a sign of short-covering.

wholesale deals

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Investors meeting on 28th September

stock in news

travel online:The corporate travel services company will list its equity shares on BSE and NSE on September 28. The issue price has been fixed at Rs 142 per share. The date for allotment of IPO shares was set for September 25.

Aurobindo Pharma: Subsidiary Auro Vaccines has entered into a license agreement with Hillman Laboratories Singapore Pte Ltd for the development, manufacturing and commercialization of a pentavalent vaccine candidate to be used in the vaccination of children. Auro Vaccines will make milestone payments to Hillman upon achieving certain development and clinical study results, while Hillman will also be paid royalties upon commercialization of the vaccine candidate.

Dixon Technologies:Subsidiary Padgett Electronics has entered into an agreement with Xiaomi Technology India to manufacture smartphones and other related products for Xiaomi. The said manufacturing will take place from Padgate’s manufacturing facility in Noida, Uttar Pradesh.

Tata Power Company:Subsidiary Tata Power Renewable Energy (TPREL) will set up a 41 MW captive solar plant at Thoothukudi, Tamil Nadu, to complement TP Solar’s new greenfield 4.3 GW solar cell and module manufacturing facility at Tirunelveli, Tamil Nadu.

Reliance Industries: According to data published by TRAI, subsidiary Reliance Jio has added a net 39.07 lakh wireless customers in the month of July 2023, significantly higher than 22.7 lakh customers in the previous month. With this, the company had 38.60 percent market share of wireless subscribers by July 2023.

Bharti Airtel: The telecom operator has added a net of 15.17 lakh customers in the month of July, which was 14.1 lakh customers in the previous month. The company has 32.74 percent market share in the wireless subscriber segment by July 2023.

NBCC India:The government-owned construction company has announced the sale of commercial built-up space at the World Trade Centre, New Delhi, through e-auction. It started sales on September 27 and the e-auction will be held on October 23 this year. The area proposed for sale is 14.75 lakh square feet and the value of the proposed area is Rs 5,716.43 crore.

Fund Flow (Rs. Crore)

FII and DII data

According to provisional data from the National Stock Exchange (NSE), foreign institutional investors (FIIs) sold shares worth Rs 354.35 crore on September 27, while domestic institutional investors (DIIs) bought shares worth Rs 386.28 crore.

Stocks under F&O ban on NSE

NSE has retained Delta Corp and India Cements in its F&O ban list for September 28. Balrampur Sugar Mills, Canara Bank, Hindustan Copper and Indiabulls Housing Finance have been removed from 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.

Disclaimer: 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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