Pre-market Setup for Friday: Things to know before opening bell

On October 12, 2023, Indian equity benchmark indices witnessed consolidation after a two-day rally. The Nifty50 closed just below the 19,800 mark, showing moderate losses. Throughout the session, the Nifty remained in a range of 19,750-19,850, reflecting indecisiveness among market participants. The BSE Sensex fell by 65 points to 66,408, while the Nifty50 dropped 17 points to 19,794, forming a bearish candlestick pattern.

Experts noted that the market was likely to continue trading in this range until a decisive breakout occurred either above 19,850 or below 19,750. If the Nifty can break out above 19,850, it may propel the index toward the 20,000 level.

Meanwhile, the Nifty Midcap 100 and Smallcap 100 indices outperformed the benchmark indices, with gains of 0.2 percent and 0.65 percent, respectively.

India VIX, a measure of expected volatility in the Nifty50 for the next 30 days, dropped for the third consecutive session, indicating some stability in the equity markets.

Here are some key data points to consider:

Support and resistance levels on Nifty: Support levels are at 19,776, 19,760, and 19,733, while resistance levels are at 19,830, 19,847, and 19,874.

Nifty Bank: The Bank Nifty also consolidated and traded within the previous day's range. The index gained 82 points, settling at 44,599. The hourly Bollinger bands are contracting, indicating consolidation is not complete yet, and buying opportunities may emerge on dips toward the 44,400 – 44,300 zone.

Call options data: The maximum Call open interest (OI) was at the 18,000 strike, followed by the 19,900 strike, indicating potential resistance levels for the Nifty.

Put option data: The maximum open interest for Put options was at the 19,800 strike, followed by the 19,700 strike, indicating key support levels.

Stocks with high delivery percentage: Stocks with high delivery percentages included Container Corporation of India, ICICI Lombard General Insurance Company, Shriram Finance, Alkem Laboratories, and ICICI Prudential Life Insurance Company.

63 stocks with a long build-up: A long build-up was observed in 63 stocks, including Bosch, Maruti Suzuki India, Sun TV Network, National Aluminium Company, and InterGlobe Aviation.

23 stocks with long unwinding: Based on open interest percentage, 23 stocks saw long unwinding, including MCX India, Godrej Properties, India Cements, Bajaj Finserv, and Persistent Systems.

50 stocks with a short build-up: A short build-up was seen in 50 stocks, including Delta Corp, TCS, Infosys, Zydus Lifesciences, and BHEL.

50 stocks with short-covering: Short-covering was observed in 50 stocks, including Birlasoft, Metropolis Healthcare, Jubilant Foodworks, NMDC, and ABB India.

Bulk deals: Bulk deals in various stocks took place.

Results on October 13: Several companies, including HDFC Life Insurance Company, Aditya Birla Money, Tata Steel Long Products, Den Networks, and others, are expected to announce their quarterly earnings.

Stocks in the news: Infosys, HCL Technologies, Dr. Reddy's Laboratories, Maruti Suzuki India, and others made headlines with their financial results and developments.

FII and DII data: Foreign institutional investors (FIIs) sold shares worth Rs 1,862.57 crore, while domestic institutional investors (DIIs) bought shares worth Rs 1,532.08 crore on October 12.

Stocks under F&O ban on NSE: BHEL, Delta Corp, and Sun TV Network were added to the F&O ban list for October 13, while several other stocks remained on the list.

Please note that this is not financial advice, and it's important to conduct your own research or consult with a financial expert before making any investment decisions.