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

• The Nifty50 is expected to find support around 19,600, coinciding with the 50-day EMA, which is crucial to prevent a major correction.

• The range of 19,800-19,850 is critical for a potential march upwards toward 19,900-20,000 levels.

Recent Market Performance:

• On October 13, the Nifty50 managed to recover from its losses, closing above 19,750 and taking intraday support at 19,600.

• The BSE Sensex fell 126 points to close at 66,283, while the Nifty50 dropped 43 points to end at 19,751, forming a bullish candlestick pattern on the daily charts.

Expert Analysis:

• A strong open interest (OI) build-up at the 19,600 strike price by Put writers suggests support at that level.

• As long as the index remains above 19,600, a buy-on-dips strategy is favored.

• Resistance is visible at 19,850, and a move above this level may lead to a push towards 20,000.

Key Support and Resistance Levels:

• Nifty support levels are at 19,666, 19,625, and 19,561.

• Resistance levels are at 19,796, 19,836, and 19,901.

Nifty Bank:

• The Bank Nifty witnessed a deeper correction but is expected to see buying interest in the support zone of 44,000-43,800.

• A short-term recovery toward 45,050-45,350 is expected as long as the crucial support zone holds.

Options Data:

• Maximum Call open interest (OI) is at the 19,800 strike, followed by the 19,900 and 20,000 strikes.

• Call writing was observed at the 19,700 strike.

• Maximum Put OI is at the 19,700 strike, which can act as immediate support.

Stock Movements:

• High delivery percentages were seen in stocks like Piramal Enterprises, Samvardhana Motherson International, Britannia Industries, PI Industries, and Coromandel International.

• Long build-up in stocks like InterGlobe Aviation, Petronet LNG, Metropolis Healthcare, Tata Motors, and Maruti Suzuki India.

• Long unwinding in stocks like Sun TV Network, Birlasoft, BHEL, ITC, and Escorts Kubota.

• Short build-up in stocks like Infosys, Syngene International, State Bank of India, Axis Bank, and Bajaj Auto.

• Short-covering in stocks like HDFC AMC, HCL Technologies, Tata Consultancy Services, Mahanagar Gas, and L&T Technology Services.

Upcoming Results on October 16:

• Earnings reports for HDFC Bank, Jio Financial Services, Federal Bank, CEAT, ICICI Securities, and other companies will be in focus on October 16.

Stocks in the News:

• Tata Motors is selling a 9.9% stake in its subsidiary Tata Technologies to TPG Rise Climate SF Pte Ltd and the Ratan Tata Endowment Foundation.

• Avenue Supermarts, the owner of D-Mart stores, reported a 9.2% YoY decline in consolidated profit.

• Adani Enterprises' subsidiaries MIAL and NMIAL are under investigation by the Ministry of Corporate Affairs.

• Bajaj Electricals secured a supply of services contract worth Rs 564.2 crore from Power Grid Corporation of India.

• Tata Steel Long Products' net loss for the quarter narrowed, aided by lower input costs.

• Dalmia Bharat recorded a consolidated profit for the quarter, with increased cement volumes.

• Delta Corp's subsidiary received an intimation for payment of shortfall tax.

Fund Flow Data:

• Foreign institutional investors (FII) bought shares worth Rs 317.01 crore, while domestic institutional investors (DII) sold stocks worth Rs 102.88 crore on October 13.

Stocks Under F&O Ban on NSE:

• SAIL was added to the F&O ban list for October 16. Other stocks on the ban list include Balrampur Chini Mills, BHEL, Delta Corp, Hindustan Copper, and more.

Please note that this information is for reference and should be used alongside your own research and analysis before making any investment decisions.