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

Benchmark indices have nosedived for the seventh consecutive week ended April 3 amid fears over novel coronavirus, or COVID-19, pandemic and rating downgrades of banks and financials on concerns over higher NPAs due to the lockdown. Subdued auto sales data for March and rally in oil prices also affected sentiment.

The Sensex tanked 2,224.64 points, or 7.46 percent, to 27,590.95 and the Nifty fell 576.45 points, or 6.66 percent, to 8,083.80 last week, taking the total seven-week loss to 33 percent each.

Market breadth has been in favour of the bulls for last three straight sessions. Experts attributed this to supressed valuations in quality stocks, which attracted buying interest at lower levels, hoping that the worst may have been discounted by the market.

"The market would continue to be highly volatile and would track global markets along with the trend in coronavirus cases globally and locally," Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services told Moneycontrol.

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

Note: The OI and volume data of stocks given in this story are the aggregates of three-months data and not of the current month only.

According to the pivot charts, the key support level for the Nifty is placed at 7,974.22, followed by 7,864.63. If the index moves up, key resistance levels to watch out for are 8,274.97 and 8,466.13.

The important pivot level, which will act as crucial support for the index, is placed at 16,819.63, followed by 16,389.96. On the upside, key resistance levels are placed at 18,002.53 and 18,755.77.

Maximum call open interest (OI) of 9.25 lakh contracts was seen at the 8,500 strike price. It will act as a crucial resistance level in the March series.

This is followed by 8,000 strike price, which holds 7.83 lakh contracts in open interest, and 7,500, which has accumulated 3.22 lakh contracts in open interest.

Significant call writing was seen at the 8,000 strike price, which added 1.28 lakh contracts, followed by 8,500 that added 1.11 lakh contracts.

Minor call unwinding was witnessed at 7,500 strike, which shed 16,275 contracts.

Maximum put open interest of 22.27 lakh contracts was seen at 8,000 strike price, which will act as crucial support in the March series.

This is followed by 7,500 strike, which holds 20.97 lakh contracts in open interest, and 8,500 strike price, which has accumulated 11.65 lakh contracts in open interest.

Put writing was seen at 7,500 strike, which added 1.26 lakh contracts followed by 8,000, which added 79,050 shares.

Put unwinding was seen at 8,500 strike, which shed 78,225 contracts, followed by 8,800, which shed 40,575 contracts.

A high delivery percentage suggests that investors are showing interest in these stocks.

Stocks which saw long build-up. Below are the top 10 stocks

Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.

An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions. Based on open interest (OI) future percentage, here are the top 10 stocks in which short build-up was seen.

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

Bulk deals

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Board meetings

Stocks in news

Manali Petrochemical: Production of Propylene Glycol has restarted at both plants.

Omaxe: CARE revised long term bank facilities to BB+/Stable from BBB-/Negative.

Dhampur Sugar Mills: Company started production of hand sanitizers at Asmoli unit, Sambhal.

Raymond: FPIs shareholding increased to 10.83 percent in March quarter, from 10.67 percent in December quarter.

HCL Infosystems: India Ratings revised its long-term issuer rating from A- to BBB-/Negative.

IDBI Bank: Board members to meet on April 8 to consider proposal of rupee bond borrowings limit of Rs 7,500 crore for FY21.

HCC: Company appointed UV Phani Kumar as CEO-HCC (E&C).​

IndusInd Bank: India Ratings affirmed long-term issuer rating at AA+ with revised outlook from Stable to Negative.

IndusInd Bank: Moody's placed domestic and foreign currency issuer ratings of Baa3/P-3 under review for downgrade.

PTC India: Standalone credit rating for various long term borrowings are remain same as A+ (Stable) from CRISIL, ICRA and CARE.

Future Supply Chain Solutions: PV Sheshadri resigned as CEO.

Force Motors: Sales in March dropped considerably to 877 vehicles against 2,117 in February. Production fell to 1,198 against 1,864 MoM.

Uttam Sugar: CARE revised rating on long term bank facilities to BB+/Stable from BB-/Positive.

PNB Housing Finance: ICRA downgraded rating of NCDs and Tier II bonds to AA (Negative) from AA+ (Negative).

Vedanta: CRISIL reaffirmed rating at AA but revised outlook to Negative from Stable.

Ashiana Housing: CARE re-affirmed issuer rating at A (Is) (Stable).

IDBI Bank: Moody's affirmed deposit rating at Ba2, baseline credit assessment and adjusted BCA at b2, but revised outlook to Stable from Positive.

Trident: CARE reaffirmed rating on long term bank facilities at AA-/Stable.

DCB Bank: CARE reaffirmed credit rating at A1+ for short term bank facilities of Rs 300 crore.

Sunteck Realty: CARE reaffirmed long term rating at AA- and short-term rating at A1+.

Shalby: Company incorporated a new wholly-owned subsidiary company Mars Medical Devices.

Shemaroo Entertainment: CARE assigned A-/Stable rating for long term bank facilities.

Axis Bank: Moody's revised the outlook for the bank from stable to negative; downgraded the counterparty risk assessments to Baa3(cr)/P-3(cr) from Baa2(cr)/P-2(cr), and the local currency counterparty risk rating to Baa3/P-3 from Baa2/P-2.

Future Retail: Fitch revised rating on USD denominated Notes to B-(EXP) from BB-(EXP) and placed ratings on Rating Watch Negative, citing operational uncertainties due to COVID-19 containment measures.

Future Enterprises: Acuite placed its rating on NCDs (A+) under watch with negative implications due to COVID-19 crisis.

ICICI Bank: Moody's affirmed the deposit ratings at Baa3, also affirmed baseline credit assessment and adjusted BCA at ba1, but lowered counterparty risk assessment from Baa2(cr)/P-2(cr) to Baa3(cr)/P-3(cr). The outlook was revised from stable to negative.​

Foreign institutional investors (FIIs) sold shares worth Rs 1,960.97 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 226.55 crore in the Indian equity market on April 3, provisional data available on the NSE showed.

Fund flow

Stock under F&O ban on NSE