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

Benchmark indices started the week on a positive note with the Nifty50 reclaiming 11,700 levels, driven by banks, auto, metals and select technology stocks.

BSE Sensex rose 138.73 points to close at 38,905.84 while the Nifty50 gained 46.90 points at 11,690.40 and formed bullish candle on daily charts.

"A small body positive candle was formed today with gap up opening. Technically, this pattern indicates a positive bias with range movement (this could be due to market holiday's in this week)," Nagaraj Shetti – Senior Technical & Derivative Analyst, HDFC Securities, told Moneycontrol.

He said the underlying short term trend of Nifty continues to be positive with lacklustre movement.

Shabbir Kayyumi, Head of Technical Research, Narnolia Financial Advisors, said a sustained trade above today's high of 11,710 will accelerate upmove taking the index higher towards life high placed around 11,760 levels.

Nifty is trading in a tight range of 11,700-11,550 for the past 8 days and a decisive close below 5 DMA placed around 11,637 will push it lower towards the line of parity standing at 11,540 levels, he added.

The broader markets also participated in today's run with the Nifty Midcap gaining 0.47 percent. Nifty Auto (up 1.5 percent), IT (up 1.3 percent) and Metals (2.27 percent) were prominent gainers among sectors.

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

Key support and resistance level for Nifty

Nifty closed at 11,690.35 on April 15. According to the Pivot charts, the key support level is placed at 11,657.47, followed by 11,624.63. If the index starts moving upward, key resistance levels to watch out are 11,713.87 and 11,737.43.

Nifty Bank

The Nifty Bank index closed at 30,104.25, up 165.70 points on April 15. The important Pivot level, which will act as crucial support for the index, is placed at 29,961.17, followed by 29,818.13. On the upside, key resistance levels are placed at 30,205.17, followed by 30,306.13.

Call options data

Maximum Call open interest (OI) of 26.29 lakh contracts was seen at the 12,000 strike price. This will act as a crucial resistance level for the April series.

This was followed by 11,800 strike price, which now holds 21.02 lakh contracts in open interest, and 11,700, which has accumulated 16.38 lakh contracts in open interest.

Significant Call writing was seen at the 11,700 strike price, which added 0.77 lakh contracts.

Call unwinding was seen at the strike price of 12,000 that shed 3.22 lakh contracts, followed by 11,800 strike that shed 1.63 lakh contracts and 11,500 strike which shed 0.92 lakh contracts.

Put options data

Maximum Put open interest of 27.44 lakh contracts was seen at 11,500 strike price. This will act as a crucial support level for the April series.

This was followed by 11,600 strike price, which now holds 21.25 lakh contracts in open interest and 11,400 strike price, which has now accumulated 17.26 lakh contracts in open interest.

Put writing was seen at the strike price of 11,700 which added 3.63 lakh contracts, followed by 11,600 strike which added 2.86 lakh contracts and 11,800 strike which added 1.3 lakh contracts.

Put unwinding was seen at the strike price of 11,500 strike, which shed 1.55 lakh contracts, followed by 11,200 strike that shed 1.24 lakh contracts and 11,300 strike that shed 1.21 lakh contracts.

FII & DII data

Foreign Institutional Investors (FIIs) bought shares worth Rs 897.45 crore and Domestic Institutional Investors (DIIs) purchased Rs 581.36 crore worth of shares in the Indian equity market on April 15, as per provisional data available on the NSE.

Fund Flow Picture

Stocks with a high delivery percentage

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

57 Stocks saw a long buildup

56 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.

29 stocks saw long unwinding

Bulk Deals on April 15

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Analyst or Board Meet/Briefings

Indian Energy Exchange: Company will announce its March quarter earnings on April 26.

Ramco System: Investor meet is scheduled on April 16, 2019 at Mumbai arranged by Emkay Global Financial Services Ltd. with HDFC MF, Goldman Sach AMC, Reliance AMC, IDFC MF, UTI MF, Lucky Sec, ICICI Pru MF, MK Ventures, Edelweiss, Suyash, BNP MF, Ashmore.

Nestle India: Board will consider declaration of interim dividend for the year 2019, if any, on April 25.

Deepak Fertilisers: Board meeting is scheduled on April 22 to consider issue of foreign currency convertible bonds by the company & issue of compulsory convertible debentures by company's wholly owned subsidiary Smartchem Technologies Ltd.

M&M: Company's officials will meet Theleme Partners on April 16 and Elo Mutual Pension Insurance Company on April 17.

Stocks in news:

Results on April 16: Wipro, Mastek, 5paisa Capital, Den Networks, Asutosh Enterprises, Northern Projects

Listing: Polycab India

Hathway Cable Q4: Standalone net loss at Rs 55 crore versus profit at Rs 12.6 crore; revenue down 9.1 percent to Rs 132.4 crore versus Rs 145.7 crore YoY.

TCS: Zions Bancorporation unifies lending operations with TCS BaNCS.

Jet Airways: Lenders are unlikely to extend any interim funding for company as of now and will weigh seriousness of bids received before firming up plans on funding.

Prestige Estates: Company buys balance 51 percent share in Babji Realtors Private Limited through subsidiary company for Rs 364 crore.

Syndicate Bank: Bank cuts MCLR rate by 5 bps across all tenures.

Lakshmi Vilas Bank: Board to meet on April 22 to decide price of shares issuance. Bank is proposing to make preferential allotment to Indiabulls Housing Finance to extent of 4.99 percent and is expected that the relevant date could be by the end of April 2019.

Deepak Fertilisers: Company commences commercial production of nitric acid plant at Dahej, Gujarat. Facility to cost approximately Rs 550 crore.

Cipla: Company''s wholly owned subsidiary in USA i.e. Cipla Technologies LLC has signed the definitive agreement with Pulmatrix Inc for the development and commercialisation of Pulmazole, – an inhaled iSPERSE formulation of the antifungal drug itraconazole for the treatment of allergic bronchopulmonary aspergillosis (ABPA) in patients with asthma.

Suven Life Sciences: Board approved the enhancement of investment limits in subsidiary in USA Suven Neurosciences, Inc. from $25 million upto $50 million to undertake clinical trials on the molecules in the pipeline.

Cyient: Company rolled out a portfolio of services and solutions that help communication service providers (CSPs) expedite 5G network rollouts globally.

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.