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

The market opened positive, but remained rangebound for the entire session and closed on a flat note on March 14 after rising for previous three straight sessions.

The BSE Sensex was up 2.72 points to close at 37,754.89 while the Nifty50 rose 1.60 points to 11,343.30 and formed bearish candle on the daily charts as closing price is higher than opening.

Failing to breakout critical resistance placed around 11,370 led to day long consolidation. The market is expected to remain in a consolidative phase for coming session also due to lack of trigger, experts said, adding the range could be around 11,300-11,400 levels.

"A small negative candle has been formed, with minor lower shadow at new swing high of 11,383 levels, which technically signals rangebound action in the market at the highs," Nagaraj Shetti - Technical Analyst, HDFC Securities told Moneycontrol.

He said still there is no convincing indication of any downward reversal pattern at the highs.

The near term trend of Nifty is positive, amidst a range movement, and immediate resistance to be watched is at 11,450 levels, he added.

trending higher above twenty, suggesting intraday retracement may again find buyers on dips around supports placed around 11,300 and 11,260.

We have collated top 10 data points to help you spot profitable trades:

Key support and resistance level for Nifty

The Nifty closed at 11,343.25 on March 14. According to Pivot charts, the key support level is placed at 11,310.17, followed by 11,277.13. If the index starts moving upward, key resistance levels to watch out are 11,379.87 and 11,416.53.

Nifty Bank

The Nifty Bank index closed at 28,923.10, up 38.80 points on March 14. The important Pivot level, which will act as crucial support for the index, is placed at 28,805.17, followed by 28,687.23. On the upside, key resistance levels are placed at 29,055.67, followed by 29,188.23.

Call Options Data

Maximum Call open interest (OI) of 26.46 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for the March series.

This was followed by the 11,400 strike price, which now holds 24.56 lakh contracts in open interest, and 11,300, which has accumulated 18.90 lakh contracts in open interest.

Significant Call writing was seen at the strike price of 11,600, which added 2.49 lakh contracts, followed by 11,400 strike, which added 1.77 lakh contracts, and 11,500 strike, which added 1.43 lakh contracts.

Call unwinding was seen at the strike price of 11,000 that shed 0.97 lakh contracts, followed by 11,200 strike that shed 0.8 lakh contracts and 11,300 strike which shed 0.67 lakh contracts.

Put Options Data

Maximum Put open interest of 39.87 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for the March series.

This was followed by the 11,200 strike price, which now holds 27.86 lakh contracts in open interest, and the 10,800 strike price, which has now accumulated 24.61 lakh contracts in open interest.

Put writing was seen at the strike price of 11,300, which added 8.53 lakh contracts, followed by 11,200 strike that added 3.89 lakh contracts and 11,100 strike that added 2.11 lakh contracts.

There was hardly any Put unwinding seen.

FII & DII data

Foreign Institutional Investors (FIIs) bought shares worth Rs 1,482.99 crore while Domestic Institutional Investors sold Rs 817.77 crore worth of shares in the Indian equity market on March 14, 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.

52 stocks saw a long buildup

45 stocks saw short covering

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

54 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.

41 stocks saw long unwinding

Bulk Deals on March 14

NSE

Jubilant Foodworks: Kotak Mahindra Mutual Fund purchased 8,00,000 shares of the company at Rs 1,312.4 per share and Prudential ICICI Asset Management Company 8,20,000 shares at same price while Jubilant Consumer Private Limited sold 39,59,071 shares at same price.

R M Drip & Sprink: Braja Gopal Pal bought 38,000 shares of the company at Rs 52.27 per share.

Ruchi Soya Industries: Soyumm Marketing Pvt Ltd sold 20,00,000 shares of the company at Rs 7.93 per share.

The Byke Hospitality: Grandeur Peak Emerging Markets Opportunities Fund sold 6,05,000 shares of the company at Rs 34.1 per share.

BSE

Laurus Labs: FIL Capital Management (Mauritius) Limited sold 61,18,806 shares of the company at Rs 351.15 per share while Amansa Holdings Private Limited bought 33,00,000 shares of the company at Rs 351 per share.

(For more bulk deals, click here)

Analyst or Board Meet/Briefings

James Warren Tea: Board meeting is scheduled on March 22 to consider the proposal of buyback of equity shares.

Adani Transmission: Board meeting is scheduled on March 20 to consider buy-back of non convertible debentures (NCDs).

Mahindra Lifespace: Board meeting to be held on April 22 to consider the audited financial results of the company for the fourth quarter and financial year to be ended on March 2019.

Stocks in news

IDBI Bank: RBI categorized IDBI Bank as a private sector bank for regulatory purposes with effect from January 21, 2019 consequent upon Life Insurance Corporation of India acquiring 51 percent of the total paid up equity share capital of the bank.

Tide Water Oil (India): Board declared 2nd Interim Dividend of 1700 percent (Rs 85) per ordinary share for the year 2018-19.

Tech Mahindra: Board approved the proposal to acquire 100 percent shareholding in K-Vision Co through its wholly owned subsidiary Mahindra Engineering Services (Europe). Enterprise value ofthe deal is $1.5 million.

Emami: SAT passed an order accepting the appeal and quashing the order of the SEBI Adjudicating Officer imposing penalty of Rs 8 lakh on R S Agarwal, Chairman of company.

LGB Forge: R Ramakrishnan resigned as Chief Financial Officer of the company.

CMI: Company has been included as vendor with few prestigious companies (Power Grid projects, Airport Authority of India, Mazgaon Dock Shipbuilders, Jawahar Lal Nehru Port Trust) in the 3rd quarter ending December 2018.

Ranjeet Mechatronics: Company received is a project for supply, installation, testing and commission of various equipments and items for fire fighting and gas flooding & fire suppression system works for the Airport Authority of India (AAI). The project value is Rs 11.56 crore.

Kapashi Commercials: Board recommended bonus issue of equity shares in the ratio of three equity share of Rs 10 each for every two equity share of Rs 10 each held by the shareholders.

Essel Propack: Company redeemed commercial papers with maturity date of March 14, 2019 amounting to Rs 35 crore.

Coal India: Board approved payment of 2nd Interim Dividend for the financial year 2018-19 at Rs 5.85 per share of the face value of Rs 10.

Ujjivan Financial Services: Board declared an interim dividend of 85 paise per share of Rs 10 each.

Six 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.