Skip to main content

Trade setup for Tuesday: Top Important Analysis to know before the opening bell 14-Feb-2023

On Monday (February 13, 2022), nifty opened as predicted by our PickMyStox algo. However, by 9:20am profit booking and fresh shorting ahead of inflation data release and that changed the sentiment.

Market Trend Analysis

Now let us look at the trends of NIFTY, BANKNIFTY, FINNIFTY & INDIA VIX for Tuesday (February 14, 2022) as predicted by our algo PickMyStox.

NIFTY Trend for Tuesday

  • Trend: sideways to negative.
  • Trend Confirmation: price stays below 17790.45.
  • Trade Condition: price fall below 17719.75.
  • Targets: 17690.98, 17660.24, 17629.50.
  • Pullback Condition: price rise above 17728.97.
  • Pullback Target: 17790.45.
  • Trend Failure Condition: price rise above 17790.45.
  • Failure Targets: 17880.70, 17889.92, 17920.66.
  • Resistances: 17851.93, 17889.92, 17951.40
  • Supports: 17728.97, 17690.98, 17629.50
  • Bears Zone: 17851.93-17880.70 (9.22X)
  • Pivot Zone: 17780.68-17800.23 (1.67X)
  • Bulls Zone: 17719.75-17728.97 (0.62X)
  • Rangebound Rank: 9 (212%).

BANKNIFTY Trend for Tuesday

  • Trend: sideways to negative.
  • Trend Confirmation: price stays below 41367.55.
  • Trade Condition: price fall below 41157.90.
  • Targets: 41055.68, 40959.29, 40862.90.
  • Pullback Condition: price rise above 41174.77.
  • Pullback Target: 41367.55.
  • Trend Failure Condition: price rise above 41367.55.
  • Failure Targets: 41662.55, 41679.42, 41775.81.
  • Resistances: 41560.33, 41679.42, 41872.20
  • Supports: 41174.77, 41055.68, 40862.90
  • Bears Zone: 41560.33-41662.55 (3.72X)
  • Pivot Zone: 41324.88-41410.23 (17.07X)
  • Bulls Zone: 41157.90-41174.77 (0.52X)
  • Sideways Rank: 0 (199%).

FINNIFTY Trend for Tuesday

  • Trend: sideways to negative.
  • Trend Confirmation: price stays below 18437.07.
  • Trade Condition: price fall below 18342.15.
  • Targets: 18314.73, 18276.93, 18239.12.
  • Pullback Condition: price rise above 18361.45.
  • Pullback Target: 18437.07.
  • Trend Failure Condition: price rise above 18437.07.
  • Failure Targets: 18540.10, 18559.40, 18597.21.
  • Resistances: 18512.68, 18559.40, 18635.02
  • Supports: 18361.45, 18314.73, 18239.12
  • Bears Zone: 18512.68-18540.10 (2.39X)
  • Pivot Zone: 18433.01-18441.13 (7.98X)
  • Bulls Zone: 18342.15-18361.45 (1.55X)
  • Sideways Rank: 0 (195%).

INDIA VIX Trend for Tuesday

  • Trend: sideways to positive.
  • Trend Confirmation: price stays above 13.20.
  • Trade Condition: price cross above 14.10.
  • Targets: 14.61, 15.04, 15.47.
  • Pullback Condition: price fall below 14.07.
  • Pullback Target: 13.20.
  • Trend Failure Condition: price fall below 13.20.
  • Failure Targets: 11.83, 11.80, 10.93.
  • Resistances: 14.07, 14.61, 15.47
  • Supports: 12.34, 11.80, 10.93
  • Bears Zone: 14.07-14.10 (0.23X)
  • Pivot Zone: 12.97-13.44 (143X)
  • Bulls Zone: 11.83-12.34 (4.06X)
  • Rangebound Rank: 9 (212%).

Future OI Analysis

Let us find out long buildup, short buildup, long unwinding and short covering stocks based on the future price movement, open interest and volume.

Long Buildup Stocks

Based on the OI percentage, a long build-up was witnessed in 9 stocks on February 13, 2023.

Short Buildup Stocks

Based on the OI percentage, a short build-up was witnessed in 66 stocks on February 13, 2023.

Short Covering Stocks

Based on the OI percentage, a short build-up was witnessed in 27 stocks on February 13, 2023.

Long Unwinding Stocks

Based on the OI percentage, a short build-up was witnessed in 91 stocks on February 13, 2023 


Options OI Analysis

We considered weekly options open interest for this analysis

NIFTY Options Open Interest Analysis

On a weekly basis, the maximum near by Call open interest (OI) was at 18,000 strike, with 10 million contracts, which can act as a resistance for the coming week of the February series.

And maximum near by Put open interest (OI) was at 17,500 strike, with 4.7 million contracts, which can act as a support for the coming week of the February series.


BANKNIFTY Options Open Interest Analysis

On a weekly basis, the maximum near by Call open interest (OI) was at 41,500 strike, with 5 million contracts, which can act as a resistance for the coming week of the February series.

And maximum near by Put open interest (OI) was at 41,000 strike, with 2.1 million contracts, which can act as a support for the coming week of the February series.


FII and DII data

Foreign institutional investors (FII) was on bullish side on stocks, Calls & futures and bearish side on Puts, whereas the domestic institutional investors (DII) was also on bullish side on stocks.


Disclaimer: These are only suggestive technical rules that have been found to work well over time in the market. These are not any trading or investing recommendations. We suggest you to take advice from certified experts for trading and investing. Neither PickMyStox nor any of its associates are responsible for any trading or investing loss.

Topics:

Comments

Post a Comment

Popular Tutorials

Reliance Q1 Result: What is Good, Bad and Ugly?

Reliance Industries' Q1 results were a mixed bag, with positive aspects in revenue growth countered by a decline in net profit. The Good  * Revenue grew 12% year-on-year, driven by higher realizations in the oil-to-chemical (O2C) business.  * Reliance Retail, the company's retail arm, saw strong growth in both revenue and profit, indicating continued momentum in the segment.  * Jio, Reliance's telecom arm, also reported a marginal increase in profit quarter-on-quarter. The Bad  * Net profit fell 5.4% year-on-year, primarily due to rising input costs. This decline disappointed some investors who had anticipated higher profits.  * Jio's profit growth fell short of some analysts' expectations. The Ugly  * EBITDA margin narrowed by 1.5 percentage points year-on-year, indicating pressure on profitability. Overall Reliance's Q1 results paint a mixed picture. While revenue growth is a positive sign, the decline in net profit and margin compression rais...
Post a Comment
Read more

How was Tata Consultancy Services (TCS) Q4 results for the Fiscal Year 2024-2025?

Tata Consultancy Services (TCS) announced its Q4 results for the fiscal year 2024-2025 today, April 10, 2025. Here are the key highlights:   Financial Performance: Revenue: ₹64,479 crore, up 5.29% year-on-year (YoY) from ₹61,237 crore in Q4 FY24. This represents a 0.79% increase compared to the previous quarter (Q3 FY25 revenue of ₹63,973 crore). Net Profit: ₹12,224 crore, a decrease of 1.69% YoY compared to ₹12,434 crore in Q4 FY24. However, this is a 1.2% increase from the net profit of ₹12,380 crore in Q3 FY25.   EBIT: ₹15,601 crore, a decrease of 0.36% YoY compared to ₹15,657 crore in Q4 FY24. Margin: 24.19%, down 27 basis points (bps) YoY from 24.47%.   Dividend: TCS declared a final dividend of ₹30 per equity share. Key Points and Context: The results are announced as the IT sector faces a trend of subdued growth. Analysts had anticipated flat revenue growth, stable deal wins, and a slight increase in net profit.   Focus will be on the manag...
Post a Comment
Read more

ICICI Bank's Q3 FY25 results: A Quick Analysis

ICICI Bank's Q3 FY25 results showed a positive picture with a 15% increase in net profit to Rs 11,792 crore. Positives : Strong Profit Growth: The significant increase in net profit demonstrates the bank's healthy financial performance. Increased Interest Income:  Higher interest income indicates strong loan growth and a favorable interest rate environment. Stable Asset Quality: The bank maintained stable asset quality with controlled non-performing assets (NPAs). Potential Concerns: Slight Decline in Net Interest Margin (NIM): While still strong, a slight decrease in NIM compared to previous quarters might be a minor concern. Competition: The banking sector remains competitive, which could pose challenges to maintaining market share and profitability. Overall: ICICI Bank's Q3 FY25 results were generally positive, reflecting strong financial performance and a stable operating environment. However, it's crucial to monitor key metrics like NIM and competition ...
Post a Comment
Read more