Trade setup for Friday, 15th July 2022: Key things to know before stock market's Opening Bell today
Trade setup for Friday: Nifty is placed near the upward sloping trendline support, adjoining the lows of 20-June and 21-July 2022, say experts
PremiumTrade setup for Friday, 15th July 2022: On account of heavy selling in banking and IT stocks, Indian stock market ended in red zone on fourth successive session. Nifty 50 index ended 28 points lower at 15,938 whereas BSE Sensex shed 98 points and closed at 53,416 levels. Nifty Bank index lost 176 points and closed at 34,651 mark. However, buying in energy, pharma and consumption stocks brought some relief on the Dalal Street. Volatility index India VIX ended lower at 18.34, down by 1 per cent.
Here we list out important things that one should know before stock market's opening bell today:
Global market cues
After US inflation surging to record 41-year high, Wall Street continued to remain under pressure. Dow Jones lost 0.46 per cent on Thursday session whereas Nasdaq added 0.03 per cent. S&P 500 went off 0.30 per cent while Small Cap 2000 dipped 1.10 per cent on Thursday session.
Asian markets early morning trend
Asian stocks are trading tepid in early morning session today. The Japanese Nikkei is up 0.12 per cent, Hong Kong's Hang Seng is down 0.22 per cent whereas Chinese Shanghai is quoting 0.41 per cent lower from Thursday close.
SGX Nifty technical outlook
SGX Nifty today is down by 9 points at 15,924 levels in early morning deals on Friday.
Speaking on SGX Nifty outlook, Anuj Gupta, Vice President — Research at IIFL Securities said, “Overall outlook for SGX Nifty today is expected to remain range-bound with supports placed at 15,800 and 15,6540 levels. On upside, it is facing hurdle at 16,050 and 16,200 levels."
Nifty technical outlook
"Nifty has corrected gradually in the last few sessions from its swing high of 16,250 and has now reached its important support zone. A rising trendline support from the recent lows and the 38.2 per cent retracement of the upside move is placed in the range of 15,850 to 15,800 and the index has almost tested that support range. Our markets have held above its crucial supports inspite of negative news follows such as higher inflation, rising Dollar Index etc. This divergence could now lead to the next leg of upside move if the market resumes on Friday with positive momentum," said Ruchit Jain, Lead Research at 5paisa.com.
"Nifty is placed near the upward sloping trendline support, adjoining the lows of 20-June and 21-July 2022. After fall of almost 400 points, Nifty is now near the support of 15,800 to 15,900 range, where option writers have written Put options. Immediate resistance is placed around 16100 levels, followed by 16275 levels," said Devarsh Vakil, Deputy Head — Retail Research at HDFC Securities.
Bank Nifty technical outlook
"The important levels, which will act as crucial support for the Nifty Bank index, are placed at price zone of 34,200 to 34,300 levels. On the upside, key resistance levels are placed at 35000 and 35250," said Chinmay Barve, Head — Technical and Derivatives Research at Profitmart Securities.
Nifty Call Option data
"Maximum total Call open interest was seen at 16100, 16200 and 16300 strikes with total open interest of 58133, 42707 and 42149 contracts respectively. Maximum Call open interest addition was seen at 16000, 16100 and 16300 strikes which added 54903, 38871 and 25348 contracts respectively. No major Call unwinding was seen at strikes ranging from 15600 – 16300 levels," Chinmay Barve of Profitmart Securities said.
Nifty Put Option data
Chinmay Barve went on to add that maximum total Put open interest was seen at 16000, 15900 and 15800 strikes with total open interest of 41361, 38939 and 34971 contracts respectively. Maximum Put open interest addition was seen at 15800 and 15700 strike which added 22865 and 16687 contracts respectively. Put unwinding was seen at 16100 strike which shed 1851 contracts.
Bank Nifty Call Option data
As per data shown by nseindia.com at 3.30 pm on 14 July, maximum total Call open interest was seen at 34800, 35000 and 35500 strikes with total open interest of 20919, 43924 and 40909 contracts respectively. Maximum Call open interest addition was seen at 34800, 35000 and 35500 strikes which added 16933, 26377 and 24964 contracts respectively. No major Call unwinding was seen at strikes ranging from 34500 to 35500 strikes.
Bank Nifty Put Option data
As per data shown by nseindia.com at 3.30 pm on 14 July, maximum total Put open interest was seen at 34700, 34500 and 34200 strikes with total open interest of 15932, 22332 and 11103 contracts respectively. Maximum Put open interest addition was seen at 34700 and 34500 strikes which added 9140 and 11227 contracts respectively. Put unwinding was seen at 34800 and 34900 strikes which shed 1302 and 2473 contracts respectively.
FII DII data
Foreign institutional investors (FIIs) have net bought ₹309.06 crore worth of shares, whereas domestic institutional investors (DIIs) have net sold ₹556.40 crore worth of shares on July 13, as per provisional data available on the NSE.
US bond yield data
US 10-year bond yield is down 0.48 per cent at 2.945 whereas US 30-year bond yield is down0.13 per cent at 3.100 mark.
Board meetings on 15th July 2022
1] Aditya Birla Money Limited - Financial results;
2] Den Networks Limited - Financial results;
3] The Federal Bank Limited - Financial results;
4] Just Dial Limited - Financial results/Other business matters;
5] Kesoram Industries Limited - Financial results;
6] Jindal Steel & Power Limited - Financial results;
7] Oberoi Realty Limited - Financial results;
8] MMP Industries Limited - Financial results/Other business matters;
9] Opto Circuits (India) Limited - Financial results;
10] Mangalore Refinery and Petrochemicals Limited - Other business matters;
11] L&T Technology Services Limited - Financial results;
12] Repco Home Finance Limited - Fund raising; and
13] Shree Ram Proteins Limited - Financial results/Other business matters.
Corporate actions on 15th July 2022
1] Adroit Infotech Limited - Annual General Meeting;
2] Oswal Chemicals & Fertilizers Limited - Interim Dividend - ₹1.50 Per Share;
3] Chembond Chemicals Ltd - Annual General Meeting/Dividend - ₹5 Per Share;
4] EIH Associated Hotels Limited - Annual General Meeting;
5] UTI Asset Management Company Limited Dividend - ₹21 Per Share;
6] Indo Rama Synthetics (India) Limited - Annual General Meeting;
7] Orient Electric Limited - Annual General Meeting/Dividend - ₹1.25 Per Share;
8] Lakshmi Machine Works Limited - Annual General Meeting/Dividend - ₹40 Per Share;
9] Tejas Networks Limited - Annual General Meeting; and
10] Damodar Industries Limited - Annual General Meeting/Dividend - ₹0.50 Per Share.
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