Traders Watchlist for Thursday: Top 12 data points to know before the opening bell
The Nifty50 failed to hold on to 17600 levels but took support above 17500 levels.
Bears took control of D-Street on Wednesday and pushed the S&P BSE Sensex below 59000 weighed down by losses in banks, finance, as well as utilities stocks.
The Nifty50 failed to hold on to 17600 levels but took support above 17500 levels. It closed marginally in the red towards the close weighed down by HDFC, Nestle India, Kotak Mahindra Bank, and ICICI Bank.
Sectorally, the fall was seen in sectors like banks, finance, and utilities, and FMCG while rally was visible in realty, consumer discretionary, and metal stocks.
On Wednesday, post muted opening, the Nifty hovered in the range of 17525-17610 levels. It made a couple of attempts to clear the resistance of 17600 but failed to clear the hurdle due to tepid global cues and lack of follow-through buying activity.
“The intraday trading setup suggests 17600-17625 levels would act as a key resistance level for the day traders and below the same, a quick intraday correction till 17500-17450 is not ruled out,” Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd, said.
“On the flip side, 17625 could be the range breakout level for the day traders and above the same, the breakout continuation formation is likely to continue up to 17665-17700-17725 levels,” he said.
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 0.09 percent lower at 17,546. Key Pivot points (Fibonacci) support for the index is placed at 17527, 17506, and 17473 while resistance is placed at 17,593, 17613, and 17646.
Key support & resistance levels for Nifty Bank:
The NiftyBank closed 0.78 per cent lower at 36,944. Key Pivot points (Fibonacci) support for the index is placed at 36883, 36779, and 36609 while resistance is placed at 37222, 37326, and 37495.
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 options front, the maximum Put OI is placed at 17000 followed by 17500 strikes while maximum Call OI is at 17500 followed by 18000 strikes.
Marginal Call writing is seen at 17600, and then towards 17500 strikes while minor Put writing is seen at 17300 then 17250 strikes.
“Option data suggests a broader trading range in between 17000 to 17800 zones while an immediate trading range in between 17300 to 17700 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
24 stock saw new Long Positions:
If price increases and open interest increases, then participants are having more of long positions.
9 stocks witnessing short positions:
If price decreases and open interest increases, then participants are having more of short positions.
10 stock witnessing short covering:
If the price increases and open interest decreases, then Participants are short covering their contracts.
High Delivery Quantity:
FII & DII Data:
Foreign portfolio investors (FPIs) remained net sellers for Rs 1943 cr in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1850 cr, provisional data showed on the NSE.
FII Index and Stock F&O
Ahluwalia Contracts: Aditya Birla Sun Life Mutual Fund bought 8,15,000 equity shares in the company at the weighted average price Rs 369.50 per share on the NSE, the bulk deals data showed.
Alankit Ltd: Alankit Assignments Limited sell 10,00,000 equity shares in the company at the weighted average price Rs 15.45 per share on the NSE, the bulk deals data showed.
Neogen Chemicals Limited: Kagashin Global Network Pvt Ltd sold 1,50,000 equity shares in the company at the weighted average price Rs 1258.17 per share on the NSE, the bulk deals data showed.
Stocks under F&O ban on NSE
Six stocks – Escorts, Indiabulls Housing Finance, Idea, IRCTC, PNB, and 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/advice expressed here in this article are solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)
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