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

On October 19, the market saw a pullback after an initial gap down, closing higher and forming a bullish candlestick pattern with an upper shadow on the daily charts. If the levels of 19,600-19,500 hold in the coming days, further pullback towards 19,700-19,800 is likely. Should the support zone break, a correction towards the 19,300 mark may be observed.

BSE Sensex and Nifty50: BSE Sensex dropped 248 points to 65,629, while Nifty50 declined 46 points to 19,625, forming a bullish candlestick pattern with an upper shadow on the daily charts.

Nifty has support at 19,530–19,500 zones, which includes the 61.82 percent Fibonacci retracement level of the previous rise.

Nifty is expected to witness a pullback towards 19,730-19,800 if it holds above 19,512.

Broader markets: Nifty Midcap 100 index fell 0.1 percent, Smallcap 100 index rose 0.15 percent.

Nifty support levels: 19,542, 19,502, 19,437; resistance levels: 19,671, 19,711, 19,776.

Nifty Bank: Bank Nifty closed down 134 points at 43,755, forming a bullish candlestick pattern with a long upper shadow on the daily charts.

Bank Nifty currently faces resistance at the 44,000 level with support at 43,500.

The sentiment for Bank Nifty remains "sell on rise."

Strong resistance is observed at 44,500; a closing price above this level would indicate a resumption of the uptrend.

Bank Nifty support levels: 43,599, 43,481, 43,290; resistance levels: 43,982, 44,100, 44,291.

Options Data:

Nifty maximum Call open interest (OI) at 19,800 strike (72.6 lakh contracts).

Maximum Put OI at 19,500 strike (73.22 lakh contracts).

Meaningful Call writing at 19,600 strike (31.1 lakh contracts).

Meaningful Put writing at 19,600 strike (21.08 lakh contracts).

Stocks with High Delivery Percentage: InterGlobe Aviation, Infosys, Cholamandalam Investment & Finance, Container Corporation of India, and ICICI Prudential Life Insurance Company recorded the highest delivery among F&O stocks.

Stocks in Focus:

Hindustan Unilever reported 3.9 percent YoY profit growth for Q2 FY24.

Zomato: SoftBank is likely to sell a stake worth around Rs 1,000 crore in Zomato.

Natco Pharma: USFDA conducted an inspection with eight observations.

Indoco Remedies: USFDA issued four observations for its Goa facility.

Tata Motors to acquire a 26.79 percent stake in Freight Commerce Solutions (Freight Tiger).

Jindal Stainless reported a 74 percent YoY profit growth for Q2 FY24.

Bulk Deals:

Svf Growth (Singapore) Pte Ltd likely to sell a stake worth around Rs 1,000 crore in Zomato.

Tata Motors entered into a share purchase agreement to acquire a 26.79 percent stake in Freight Commerce Solutions (Freight Tiger) for Rs 150 crore.

Quarterly Earnings on October 20 and October 21:

Companies releasing results on October 20: JSW Steel, JSW Energy, One 97 Communications, L&T Finance Holdings, Poonawalla Fincorp, and more.

Companies releasing results on October 21: ICICI Bank, Kotak Mahindra Bank, RBL Bank, IDBI Bank, Yes Bank, and more.

Stocks in the News: HUL, Zomato, Natco Pharma, Indoco Remedies, Tata Motors, Jindal Stainless, Havells India.