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

The Nifty50 closed with moderate losses, forming a Doji or High Wave candlestick pattern, indicating indecisiveness among bulls and bears.

Support levels for Nifty are at 19,700 (coinciding with the 20-day EMA) and 19,600, while resistance is expected at 19,800-19,850.

The market is likely to remain in consolidation mode with the possibility of a trending move once support or resistance levels are breached.

The Federal Reserve Chair Jerome Powell's speech later in the week is anticipated, and the market may be reacting to that.

Nifty Bank:

The Bank Nifty also showed consolidation, forming a Doji candlestick pattern, with a short-term bearish outlook.

Key support for Bank Nifty is at 44,000, and resistance is expected at 44,700.

Options Data:

Call options data suggests that the maximum Call open interest (OI) is at 19,800, acting as a key resistance for the Nifty.

Put options indicate that the maximum OI is at 19,700, serving as immediate support for Nifty50.

Stocks with High Delivery Percentage:

Stocks with high delivery percentage include Power Grid Corporation of India, Max Financial Services, Atul, Dabur India, and Coromandel International, indicating investor interest.

Long Build-up:

Long build-up was observed in 50 stocks, including MCX India, GNFC, Dalmia Bharat, Lupin, and ONGC, signaling an increase in open interest and price.

Long Unwinding:

A total of 23 stocks, including Delta Corp, Grasim Industries, Tata Motors, Syngene International, and DLF, saw long unwinding, indicating a decline in open interest and price.

Short Build-up:

Short build-up was seen in 50 stocks, including Laurus Labs, Shree Cement, Federal Bank, Divis Laboratories, and UltraTech Cement, indicating increased open interest and falling prices.

Short Covering:

64 stocks were on the short-covering list, including Sun TV Network, Torrent Pharma, Balkrishna Industries, Bosch, and ABB India, suggesting a decrease in open interest and price increase.

Stocks in the News:

Notable companies such as HDFC Bank, ICICI Securities, Jio Financial Services, CEAT, Cyient DLM, KEC International, and Tata Power have reported their financial results and performance.

Fund Flow:

Foreign institutional investors (FII) sold shares worth Rs 593.66 crore, while domestic institutional investors (DII) bought Rs 1,184.24 crore worth of stocks on October 16, according to provisional data.

Stocks under F&O Ban:

GNFC and MCX India were added to the F&O ban list for October 17, while several other stocks remain on the list. Securities on this list are subject to trading restrictions.

Please note that the information provided is based on the data and analysis available as of October 16, 2023. Market conditions and sentiments may change, so it's essential to stay updated with the latest information and consult with financial experts before making any investment decisions.