Indian market closed in the green at the record high for the second consecutive day in a row on Wednesday. The S&P BSE Sensex gained around 500 points while the Nifty50 breached 18100 levels for the first time.
Sectorally, selling pressure was visible in realty indices while buying interest was seen in FMCG, auto, bank, financial services, pharma, metal and media stocks.
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“Markets today made a great move after buying seen in all Tata group companies. Nifty Auto stocks were the top performer followed by Energy and Infra index, while banking index not showed a move in line with Nifty”, says Rahul Sharma, Co-Founder, Equity99 said in a note.
He added, “Markets seem to be in a strong position making new highs. But banks have been comparatively underperforming. We expect some good move from Banks and Automobiles going further. Also on Thursday, IT stocks will be in focus as 3 IT companies will be declaring their Q2 numbers today.”
Here is a list of 12 data points that will help you in making a profitable trade:
Key support & resistance levels for Nifty50:
The Nifty50 closed 0.94 percent lower at 18161. Key Pivot points (Fibonacci) support for the index is placed at 18080, 18045, as well as 17989 while resistance is placed at 18192, 18227, and 18283.
Key support & resistance levels for Nifty Bank:
The NiftyBank closed 0.3 per cent lower at 38635. Key Pivot points (Fibonacci) support for the index is placed at 38533, 38468, as well as 38362 while resistance is placed at 38744, 38810, and 38915.
Gross Open Interest:
Open Interest means the number of contracts open or outstanding in futures trading in NSE at any one time. One seller and one buyer together create one contract.
Here the gross values of Open Interest Positions taken by the four participants namely Client are Clients are the retail individual investors who invest in the derivatives instruments, DIIs are domestic individual investors, FIIs are foreign institutional investors and Pro are the proprietors and brokerage firms who trade on their own behalf.
On the Option front, Maximum Put OI is at 17500 followed by 17000 strike while maximum Call OI is at 18000 followed by 18500 strike. Minor call writing is seen 18200 then 18100 strike while Put writing is seen at 18000 strike.
“Option data suggests a broader trading range in between 17700 to 18500 zones while an immediate trading range in between 17850 to 18300 zones.,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
23 Stock seeing new Long Positions:
If price increases and open interest increases, then participants are having more of long positions.
04 stock witnessing Long Cover:
If the price decreases and open interest decreases, then participants are long covering their contracts.
10 stocks witnessing short positions:
If price decreases and open interest increases, then participants are having more of short positions.
23 stock witnessing short covering:
If the price increases and open interest decreases, then Participants are short covering their contracts.
Foreign portfolio investors (FPIs) remained net buyers for Rs 937.31 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 431.72 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Bajaj Hindustan Sugar Ltd: Ramlal Kanwarlal Jain sold 67,74,582 equity shares in the company at the weighted average price Rs 14.58 per share on the NSE, the bulk deals data showed.
Arvind Limited: Okoworld Growing Markets 2.0 bought 15,15,985 equity shares in the company at the weighted average price Rs 122.72 per share on the NSE, the bulk deals data showed.
Sical Logistics Limited: Axis Bank Limited sold 7,15,202 equity shares in the company at the weighted average price Rs 16.15 per share on the NSE, the bulk deals data showed.
Walchandnagar Ind. Ltd: Vistra ITCL India Limited bought 4,00,000 equity shares in the company at the weighted average price Rs 56.2 per share on the NSE, the bulk deals data showed.
Stocks under F&O ban on NSE
Eight stocks – Bank of Baroda, BHEL, Indiabulls Housing Finance, Idea, NALCO, PNB, SAIL & Sun TV – are under the F&O ban. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)