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

The market closed higher on February 20, the first positive close in nine consecutive sessions, with the Nifty holding 10,700 levels on positive global cues and relief rally in beaten-down sectors.

The 30-share BSE Sensex rallied 403.65 points or 1.14 percent to 35,756.26 while the 50-share NSE Nifty gained 131.10 points or 1.24 percent to close at 10,735.50 and formed bullish candle on the daily charts after nine bearish candles.

"Yesterday, Nifty took support from the previous swing low and lower Bollinger band placed around 10,580 levels whereas today's bounce back snapped the 8-day losing streak, forming a trend reversal morning star pattern; however, a confirmation is still pending," Shabbir Kayyumi, Head - Technical & Derivative Research at Narnolia Financial Advisors told Moneycontrol.

He said sustained trade above today's high (10,753) will resume the up move taking the index higher towards immediate resistance zone of 200 DMA placed around 10,859 levels.

A close below the strong support (10,640) will push prices lower towards 10,580 levels, he said.

The broader markets also traded in line with benchmarks. The Nifty Midcap and Smallcap indices gained 1 percent each with positive market breadth.

Sahaj Agrawal of Kotak Securities said investors can gradually accumulate select stocks for an expected breakout on the higher side.

All sectoral indices also closed in the green. Nifty Bank, Metal and IT indices were prominent gainers.

We have collated top 15 data points to help you spot profitable trades:

Key support and resistance level for Nifty

Nifty closed at 10,735.45 on February 20. According to Pivot charts, the key support level is placed at 10,670.37, followed by 10,605.23. If the index starts moving upward, key resistance levels to watch out are 10,776.67 and then 10,817.83.

Nifty Bank

The Nifty Bank index closed at 26,955.50, up 270.65 points on February 20. The important Pivot level, which will act as crucial support for the index, is placed at 26,796.97, followed by 26,638.43. On the upside, key resistance levels are placed at 27,049.77, followed by 27,144.04.

Call options data

Maximum Call open interest (OI) of 39.85 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the February series.

This was followed by the 10,800 strike price, which now holds 27.21 lakh contracts in open interest, and 10,900, which has accumulated 26.65 lakh contracts in open interest.

There was hardly any Call writing seen.

Call unwinding was seen at the strike price of 10,800 that shed 3.52 lakh contracts, followed by 10,700 strike that shed 2.52 lakh contracts and 10,900 strike which shed 2.04 lakh contracts.

Put Options data

Maximum Put open interest of 31.70 lakh contracts was seen at the 10,400 strike price. This will act as a crucial support level for the February series.

This was followed by the 10,700 strike price, which now holds 27.84 lakh contracts in open interest, and the 10,600 strike price, which has now accumulated 27.05 lakh contracts in open interest.

Put writing was seen at the strike price of 10,600 which added 5.9 lakh contracts, followed by 10,500 strike that added 3.17 lakh contracts and 10,700 strike which added 3.1 lakh contracts.

Put unwinding was seen at the strike price of 11,000 which shed 1.85 lakh contracts, followed by 10,900 strike which shed 0.96 lakh contracts.

FII & DII data

Foreign Institutional Investors (FIIs) bought shares worth Rs 713.47 crore and Domestic Institutional Investors purchased Rs 113.27 crore worth of shares in the Indian equity market on February 20, as per provisional data available on the NSE.

Fund Flow Picture

Stocks with a high delivery percentage

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

102 stocks saw a long buildup

75 stocks saw short covering

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

18 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.

5 stocks saw long unwinding

Bulk Deals on February 20

Gretex Industries: Meghkumar Mahendrakumar Shah sold 24,000 shares of the company at Rs 9 per share on the NSE.

Gujarat Raffia-Roll: Sanjaykumar Sevantilal Shah sold 27,010 shares of the company at Rs 13.25 per share.

Punj Lloyd: JM Global Equities Private Limited sold 24,00,000 shares of the company at Rs 1.8 per share.

Tara Jewels: Punjab National Bank sold 1,47,458 shares of the company at 50 paise per share.

Tarapur Transformers: Rita Rajkumar Singh sold 1,25,605 shares of the company at Rs 2.85 per share.

Viji Finance: Vijay Kothari sold 4,87,657 shares of the company at 86 paise per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

Metalyst Forgings: Board meeting is scheduled on February 27 to consider the un-audited financial results for the quarter and nine months ended December 2018.

Corporation Bank: Board meeting is scheduled to be held on February 25 to consider raising of capital by way of preferential allotment of equity shares to Government of India to the tune of Rs 9,086 crore.

Rollatainers: Board meeting is scheduled on February 25 to consider the un-audited financial results of the company for the quarter and nine months ended December 2018.

India Home Loan: Extraordinary General Meeting to be held on March 16.

Magma Fincorp: Company's officials will be attending Kotak Institutional Equities — Chasing Growth 2019 conference on February 21 at Mumbai.

Gujarat Gas: Company's officials will be attending Kotak Institutional Equities — Chasing Growth 2019 conference on February 21 at Mumbai.

JMT Auto: Board meeting is scheduled on February 25 to consider the results for the quarter ended December 2018.

United Bank of India: Board meeting is scheduled on February 25 to consider prior intimation for seeking approvals relating to preferential allotment to government.

Rallis India: Company's officials will meet analysts/investors on February 21 and 22.

Thyrocare Technologies: Company's officials will meet representative(s) of Consortium Securities Private Limited on February 22 and Pragya Equities Private Limited on February 27.

Ambuja Cements: Company's officials will meet analysts/investors on February 21.

Zensar Technologies: Company's officials will be attending Kotak Institutional Equities — Chasing Growth 2019 conference on February 21 at Mumbai.

S Chand and Company: Company proposes to meet Indus Capital Partners from Hong Kong on February 21 in New Delhi.

Vakrangee: Analyst/Investor meeting for the company has been scheduled from February 25 to 28 in UK & Europe.

Tamil Nadu Newsprint and Papers: Company's officials will meet HDFC Asset Management Company on February 21.

NIIT: Sapnesh Kumar Lalla, Chief Executive Officer and Kapil Saurabh, Associate Vice-President would be meeting investors in a Non-Deal Roadshow on February 22 in Mumbai.

Great Eastern Shipping: Company's officials will meet Nalanda Capital on February 27.

SRF: Ashish Bharat Ram, Managing Director of the company is meeting certain select investors in the UBS Road Show in London on February 21.

Stocks in news

Results on February 21: Anik Industries, Gopal Iron & Steels

PSU Banks: Government to infuse Rs 48,239 crore in 12 PSU banks - Rs 6,896 crore in Allahabad Bank, Rs 9,086 crore in Corporation Bank, Rs 4,638 crore in Bank Of India, Rs 205 crore in Bank of Maharashtra, Rs 5,908 crore in PNB, Rs 4,112 crore in Union Bank, Rs 3,256 crore in Andhra Bank, Rs 1,603 crore in Syndicate Bank, Rs 2,560 crore in Central Bank Of India, Rs 2,839 crore in United Bank, Rs 3,330 crore in UCO Bank and Rs 3,806 crore in Indian Overseas Bank

IL&FS Financial Services: Company is unable to service obligation on interest payment of NCDs worth Rs 4.2 crore.

Steel: Government extends exemption on some imported grades of steel until April 17, 2019.

JSW Steel: Moody's changes company's outlook to positive; affirms all ratings.

Yes Bank: Moody's affirms bank's ratings; outlook changed to stable from negative.

Innovative Ideals & Services India: Company has bagged a new order for FTTH & Video Door Phones for supplying & executing for EPSILON Tower, SD CORP, Shapoorji Pallonji group. The value of the order is Rs 1 crore which is expected to be completed by the end of this year.

Diligent Media Corporation: With a view to optimise cost and cut-down losses, the management has decided to suspend publication & distribution of Jaipur Edition of DNA.

Dynamatic Technologies: Company has signed a Memorandum of Understanding with Joint-Stock Company (JSC) Russian Helicopters on Ka-226T Helicopter with an intent to build.

Zuari Agro Chemicals: Board approved raising of funds by way of issue of compulsory convertible debentures to the existing shareholders of the company on a rights basis up to Rs 500 crore.

Sharon Bio-Medicine: Company has received recovery notice under the Maharashtra Value Added Tax Act amounting to Rs 11.17 crore for the period April 1, 2015 to November 3, 2015 and Rs 2.47 crore for the period April 1, 2011 to March 31, 2012. The liability of the said tax would be addressed in line with the Resolution Plan approved by NCLT and later by NCLAT.

Shipping Corporation of India: Company has given physical delivery of its 1 bulk carrier M V Tamilnadu to its buyer.

Bank of Baroda: Board of directors fixed March 11, 2019 as record date for issuing and allotting equity shares of the bank to the shareholders of Vijaya Bank and Dena Bank.

Jubilant Life Sciences: Company issued commercial papers of Rs 75 crore.

Grasim Industries: Company completed acquisition of the chlor-alkali business of KPR Industries.

Tata Steel: Moody’s Investors Service has upgraded company's corporate family rating (CFR) by one notch to Ba2 from Ba3.

BPCL: Company is planning to raise up to Rs 2,000 crore during the current financial year through private placement of unsecured non-convertible debentures subject to market conditions.

Sayaji Hotels: Tourism Finance Corporation of India has withdrawn the name of Sanjay Ahuja, Nominee Director from the board of the company.

REC: Company announced a consent solicitation exercise in relation to certain Senior USD Notes.

Eight 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.