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

The market continued to end at record closing high on August 4, as bulls retained their charge on Dalal Street, aided by banking & financials. The upbeat global cues also supported the market.

The BSE Sensex rallied 546.41 points or 1.02 percent to close at 54,369.77, while the Nifty50 rose 128 points to 16,258.80 and formed bullish candle on the daily charts.

"The daily price action has formed a sizable bullish candle and registered a new high at 16,290 levels. The next higher levels to be watched are around 16,300 levels. Any sustainable move above 16,300 levels may cause momentum towards 16,400-16,450 levels," said Rajesh Palviya, VP - Technical and Derivative Research at Axis Securities.

On the downside, "any violation of an intraday support zone of 16,200 levels may cause profit booking towards 16,100-16,000 levels," he added.

However, there was selling pressure in broader markets, which experts feel is a negative sign for trend going ahead. The Nifty Midcap 100 index fell 1.19 percent and Smallcap 100 index declined 1.01 percent.

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

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

Key support and resistance levels on the Nifty

According to pivot charts, the key support levels for the Nifty are placed at 16,193.27, followed by 16,127.73. If the index moves up, the key resistance levels to watch out for are 16,307.27 and 16,355.73.

Nifty Bank

The Nifty Bank rallied 820.65 points or 2.33 percent to 36,028.10 on August 4. The important pivot level, which will act as crucial support for the index, is placed at 35,487.46, followed by 34,946.83. On the upside, key resistance levels are placed at 36,394.27 and 36,760.43 levels.

Call option data

Maximum Call open interest of 21.60 lakh contracts was seen at 16,500 strike, which will act as a crucial resistance level in the August series.

This is followed by 16,000 strike, which holds 16.89 lakh contracts, and 15,800 strike, which has accumulated 16.73 lakh contracts.

Call writing was seen at 16,500 strike, which added 3.54 lakh contracts, followed by 16,600 strike, which added 2.4 lakh contracts and 16,800 strike which added 1.63 lakh contracts.

Call unwinding was seen at 16,000 strike, which shed 5.27 lakh contracts, followed by 15,800 strike which shed 2.6 lakh contracts, and 16,300 strike which shed 1.55 lakh contracts.

Put option data

Maximum Put open interest of 31.89 lakh contracts was seen at 15,800 strike, which will act as a crucial support level in the August series.

This is followed by 15,500 strike, which holds 26.44 lakh contracts, and 16,000 strike, which has accumulated 24.88 lakh contracts.

Put writing was seen at 16,200 strike, which added 10.67 lakh contracts, followed by 16,300 strike which added 3.72 lakh contracts, and 16,100 strike which added 3.7 lakh contracts.

Put unwinding was seen at 15,800 strike, which shed 1.33 lakh contracts, followed by 15,700 strike which shed 69,050 contracts.

Stocks with a high delivery percentage

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

25 stocks saw long build-up

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

48 stocks saw long unwinding

A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.

73 stocks saw short build-up

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

18 stocks witnessed short-covering

A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on the open interest future percentage, here are the top 10 stocks in which short-covering was seen.

Bulk deals

Coforge: Nomura India Investment Fund Mother Fund acquired 3.5 lakh equity shares in the company at Rs 4,710 per share. However, promoter Hulst B V sold 33.5 lakh equity shares in the company at Rs 4,738.67 per share on the NSE, the bulk deals data showed.

Indiabulls Housing Finance: BNP Paribas Arbitrage sold 31,74,056 equity shares in the company at Rs 280.44 per share on the NSE, the bulk deal data showed.

Lyka Labs: Cobra India (Mauritius) sold 3,11,595 equity shares in the company at Rs 86.47 per share on the NSE, the bulk deal data showed.

(For more bulk deals, click here)

Results on August 5, and Analysts/Investors Meeting

Results on August 5: GAIL India, Cipla, Adani Power, Aditya Birla Capital, Indiabulls Housing Finance, Accelya Solutions India, Ador Welding, Andhra Petrochemicals, Arvind, Bajaj Consumer Care, Birla Corporation, Brigade Enterprises, Cera Sanitaryware, Edelweiss Financial Services, Escorts, Gujarat Gas, Hikal, Honeywell Automation India, Ipca Laboratories, Jubilant Industries, NCC, Narayana Hrudayalaya, PTC India Financial Services, Prince Pipes and Fittings, Quess Corp, REC, Thermax, and TTK Healthcare will release their quarterly earnings on August 5.

ABB Power Products and Systems India: The company's officials will meet analysts and institutional investors on August 5.

Tasty Bite Eatables: The company's officials will meet investors post AGM, on August 5.

Hindustan Petroleum Corporation: The company's officials will meet analysts and investors on August 5, to discuss financial results.

Cholamandalam Financial Holdings: The company's officials will meet analysts and investors on August 6, to discuss financial results.

Thermax: The company's officials will meet analysts and investors on August 9, to discuss financial results.

Stocks in News

Vodafone Idea: Kumar Mangalam Birla will step down as non-executive director and non-executive chairman of the board with effect from August 4. Himanshu Kapania is appointed as non-executive chairman of board, and Sushil Agarwal, a nominee of Aditya Birla Group, is appointed as additional director.

Reliance Industries: The company is doubling its PET recycling capacity by setting up a recycled polyester staple fiber (PSF) manufacturing facility in Andhra Pradesh. The move is part of RIL's commitment to lead the industry on circular economy, enhance its sustainability quotient and bolster the entire polyester and polymer value chain.

HPCL: The company reported lower profit at Rs 1,795 crore in Q1FY22 against Rs 3,018 crore in Q4FY21, revenue fell to Rs 72,443.4 crore from Rs 74,843.4 crore QoQ.

Apollo Tyres: The company reported profit at Rs 127.7 crore in Q1FY22 against loss of Rs 134.5 crore in Q1FY21, revenue jumped to Rs 4,584.4 crore from Rs 2,881.7 crore YoY.

Titan Company: The company reported profit at Rs 61 crore in Q1FY22 against loss of Rs 270 crore in Q1FY21, revenue surged to Rs 3,249 crore from Rs 1,862 crore YoY.

Shipping Corporation of India: The company approved scheme of arrangement for demerger of 'non-core assets'.

Fund flow

FII and DII data

Foreign institutional investors (FIIs) net bought shares worth Rs 2,828.57 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 411.36 crore in the Indian equity market on August 4, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

Three stocks - Canara Bank, Indiabulls Housing Finance, and Sun TV Network - are under the F&O ban for August 5. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.