Pre-market Setup for Wednesday: Things to know before opening bell
Market Rebound: Following a day of correction due to geopolitical tensions between Israel and Palestine, the market rebounded strongly on October 10
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1. Market Rebound: Following a day of correction due to geopolitical tensions between Israel and Palestine, the market rebounded strongly on October 10. The Nifty50 closed above the previous week's high and formed a bullish candlestick pattern, indicating potential further upside.
2. BSE Sensex and Nifty50: BSE Sensex surged 567 points to 66,079, while Nifty50 gained 178 points to close at 19,690, recovering losses from the previous day.
3. Technical Analysis: Technical analysts suggest that a strong close above 19,700 could propel the Nifty towards the 20,000 mark, with immediate support at 19,600-19,500 levels.
4. Nifty Midcap 100 and Smallcap 100: Both indices remained strong, with the Nifty Midcap 100 rising 1.4 percent and the Smallcap 100 gaining 1.2 percent. Positive breadth was observed, with three shares advancing for every falling share on the NSE.
5. Support and Resistance Levels on Nifty: The Nifty is likely to find support at 19,600, 19,563, and 19,505, while resistance is expected at 19,716, 19,752, and 19,810.
6. Nifty Bank: The Bank Nifty recovered all previous day's losses and closed 474 points higher at 44,360, forming a bullish candlestick pattern. The index may face resistance at 44,500-45,000 levels.
7. Call Options Data: Maximum Call open interest (OI) is at 20,000 strike, followed by 19,800 and 19,900 strikes. Call writing was seen at 20,100 strike, while Call unwinding was observed at 19,600 and 19,800 strikes.
8. Put Options Data: Maximum Put OI is at 19,600 strike, followed by 19,000 and 19,500 strikes. Put writing was seen at 19,600, 19,700, and 19,000 strikes, while Put unwinding occurred at 18,800, 20,000, and 20,500 strikes.
9. Stocks with High Delivery Percentage: Stocks with high delivery percentages include Hindustan Unilever, Reliance Industries, Max Financial Services, Larsen & Toubro, and Asian Paints.
10. Long Build-up in Stocks: 83 stocks saw a long build-up, indicating an increase in open interest and price, including Birlasoft, Chambal Fertilizers, Hindalco Industries, Dalmia Bharat, and Escorts Kubota.
11. Long Unwinding in Stocks: 6 stocks witnessed long unwinding based on the OI percentage, including IndusInd Bank, Metropolis Healthcare, Max Financial Services, Mahanagar Gas, and Zydus Lifesciences.
12. Short Build-up in Stocks: Short build-up occurred in 16 stocks, including ICICI Prudential Life Insurance Company, Biocon, Container Corporation of India, Abbott India, and Jubilant Foodworks.
13. Short Covering in Stocks: 82 stocks were on the short-covering list, including City Union Bank, MCX India, L&T Finance Holdings, ABB India, and Kotak Mahindra Bank.
14. Bulk Deals: Bulk deals were reported in several stocks.
In addition to these points, various stocks, including Tata Consultancy Services, Delta Corp, Samhi Hotels, and others, will release their September quarter earnings on October 11. Furthermore, there are developments in Bank of Baroda, Titan Company, Union Bank of India, NCL Industries, Birla Corporation, and EIH Associated Hotels to be noted.
Please note that the information provided is based on market data and should be used for informational purposes only. It is advisable to consult with financial experts before making any investment decisions.
