Trade setup for today: Take a look at these figures before the market opens, it will be easy to catch profitable deals – Trade setup for today share market market outlook market today jun 16 intrady call trading strategy for today

Yesterday, the market had seen a decline for the fourth consecutive day. The market was seen trading in a range of volatility yesterday. Traders were eyeing the decisions of USFed’s policy meet. Technology FMCG, Power and index heavyweight Reliance Industries put pressure on the market. On the other hand, buying was seen in Bajaj Twins, Auto, select Banking and Financial and Metal stocks.

Sensex closed 152 points lower at 52541. At the same time, Nifty closed at 15692, down 40 points. Nifty Bank climbed 28 points to close at 33,339. While the midcap climbed 93 points to close at 26809. On the other hand, the rupee had weakened by 9 paise yesterday and closed at 78.08. However, there was light buying in midcap and smallcap stocks yesterday.

How can the market move today?

Vigyan Sawant of GEPL Capital Lets say that Nifty has formed an in side day candle pattern on the daily chart which is a sign of calmness before any major event. Since March 2022, Nifty is maintaining respect to the level of 15650. This time also it has remained above this level for the last three days. This is an indication that there is immediate support for Nifty on the downside at 15650. At the same time, on the upside, there is the first resistance for it at 15886 (current week’s high). While the second big resistance is visible at 16000. If Nifty breaks the level of 15650 on the downside, then in the coming days it can see the level of 15450.

Deepak Jasani of HDFC Securities It says that after the decision of the US Fed meeting, Nifty will either open a gap below 15500 or will open a gap above 15886. Any downside downside could indicate further weakness. On the other hand, in case of an upside breakout, pressure can be seen at the higher levels.

Kunal Shah of LKP Securities It is said that the market remained volatile before the decisions of the FOMC meeting. Support is seen on the downside for Nifty at 15500. Here we have got to see the new put writing. If Nifty fails to sustain above this level, we may see further selling. On the upside, resistance can be seen for Nifty at 16000 level. Here we are seeing the highest open interest (standing trades) on the call side.

In Bank Nifty, we have seen trading in a range. After the meeting of the FOMC, we can see a sharp movement on either side. Bank Nifty may see the first hurdle on the upside at 34,000. If Nifty crosses this, then we can see new short covering in it. On the downside, support is seen in the 33000-32500 zone for Nifty, which has previously acted as a demand zone for Nifty.

These 11 stocks slipped 40% from their highs, they also have upside potential from 13% to 64% from lower levels, know the names of the stocks

Here we are giving you some statistics on the basis of which it will be easy for you to catch profitable deals. It should be noted here that the Open Interest (OI) and Volume of Stocks figures in this story are the sum total of three months’ data, not just the current month.

Key support and resistance levels for Nifty

The first support for Nifty is located at 15653 and after that the second support is located at 15613. If the index moves upwards then it may face resistance at 15758 then 15823.

The first support for Nifty Bank is located at 33208 and after that the second support is located at 33076. If the index moves upwards then it may face resistance at 33513 then 33686.

call option data

The maximum call open interest of 25.91 lakh contracts has been seen at the strike of 17000, which will act as an important resistance level in the June series. After this, the highest call open interest of 22.55 lakh contracts is being seen at 16500. At the same time, there is a call open interest of 21.13 lakh contracts at the strike of 16000.

Call writing was seen on the strike of 15700. 6.41 lakh contracts were added to this strike. After that 2.45 lakh contracts have been seen getting added at 15800 as well.

The maximum call unwinding was seen on the strike of 16800. After this, the maximum call unwinding was on the strike of 16900 and then 17200.

put option data

The maximum put open interest of 5 million contracts has been seen at the 15500 strike, which will act as an important support level in the June series. After this, the highest put open interest of 31.75 lakh contracts is being seen at 15,000. At the same time, there is a Put Open Interest of 27.84 lakh contracts at a strike of 16,000.

Put writing was seen on the strike of 15700. 7.78 lakh contracts were added to this strike. After that 3.47 lakh contracts have been seen getting added even at 15500. Whereas 1.57 lakh contracts are attached at 15600.

The maximum put unwinding was seen at the strike of 16000. This was followed by the highest put unwinding at 16200 and then 14700 strike.

Stocks with High Delivery Percentage

These include the names of Crompton Greaves Consumer Electricals, Ambuja Cements, Gujarat State Petronet, SBI Life Insurance Company and Muthoot Finance. A high delivery percentage is an indication that investors are showing interest in those stocks.

FII and DII figures

On June 15, foreign institutional investors sold Rs 3531.15 crore in the Indian markets. At the same time, domestic institutional investors bought Rs 2588 crore on this day.

Stocks coming under F&O ban on NSE

On June 16, 3 stocks are under F&O ban on NSE. These include the names of Indiabulls Housing Finance, RBL Bank and Delta Corp. It is to be noted that the stocks included in the F&O segment are put in the ban category if the positions of the securities exceed their market wide position limits.

51 stocks showed long build-up

A rise in open interest as well as a rise in prices usually leads to the formation of a long position. Long build-up was seen in 51 stocks in yesterday’s trade on the basis of open interest futures percentage. These include the names of Voltas, Nifty Financial, Torrent Power, Mahanagar Gas and Honeywell Automation.

Long unwinding seen in 25 stocks

Long unwinding is usually predicted by a fall in open interest as well as a fall in prices. Federal Bank, Canara Bank, Dalmia Bharat, Eicher Motors and Bharat Electronics, among the 5 stocks that saw the most long long unwinding in yesterday’s trade on the basis of open interest futures percentage, are included.

45 stocks showed short build-up

A rise in open interest as well as a fall in prices usually indicates a short build-up. Apollo Tires, Sun TV Network, IndusInd Bank, Crompton Greaves Consumer Electricals and Zee Entertainment Enterprises are among the 10 stocks that saw the highest short build-up in yesterday’s trade on the basis of open interest futures percentage.

Short covering seen in 78 stocks

A fall in open interest along with an increase in prices usually indicates short covering. Deepak Nitrite, Syngene International, Polycab India, Ashok Leyland and Shriram Transport Finance are among the 10 stocks that saw the highest short covering in yesterday’s trade on the basis of open interest futures percentage.

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(Disclaimer: Network 18 Media & Investment Ltd. is owned by Independent Media Trust. Its beneficiary company is Reliance Industries.)



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