Traders Watchlist for Wednesday: Top 12 data points to know before the share market opening bell
Indian market ended Tuesday’s session on a negative note, with Sensex declining over 400 points, while Nifty closed below 17750-level. The decline was mainly led by information and technology stocks along with Bharti Airtel.
Indian market ended Tuesday’s session on a negative note, with Sensex declining over 400 points, while Nifty closed below 17750-level. The decline was mainly led by information and technology stocks along with Bharti Airtel.
Sectorally, selling pressure was visible in IT, private banks, financials, realty, and media indices while buying interest was seen in metal, pharma, and PSU bank stocks.
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Rahul Sharma, Co-Founder of Equity99 says, “Nifty today showed us big swings within the day and in the second half of market session the dip was extended to 17714 levels which have taken support from the lower levels as recovery for the same was very much fast in pace.”
The red candle formed today on daily charts has closed at 17748 which is very much close to support levels, now going ahead 17700 will act as immediate support followed by 17625 -17550 levels & on the higher side 17825 – 17850- 17950 will act as hurdles for Nifty, Sharma added.
Bank Nifty which was outperforming the index was much stable on the selloff as the recovery from the lows of 37315 speedily took place, showing greater strength than Nifty altogether, the support for Nifty Bank is placed at 37650 followed by 37500 -37350 levels and on the Higher side the 38200 followed 38350 will act as hurdles, Equity99 Co-founder 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 0.6 percent lower at 17,748. Key Pivot points (Fibonacci) support for the index is placed at 17617, 17537, as well as 17409 while resistance is placed at 17874, 17953, and 18082.
Key support & resistance levels for Nifty Bank:
The NiftyBank closed 0.6 per cent lower at 37,945. Key Pivot points (Fibonacci) support for the index is placed at 37473, 37222, as well as 36817 while resistance is placed at 38284, 38535, and 38941.
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.
Options Data:
“On Option front, Maximum Put OI is at 17000 followed by 17500 strike while maximum Call OI is at 18000 followed by 18500 strike. Call writing is seen at 17800 then 17900 strike while Put writing is seen at 17500 then 17200 strike. Option data suggests a trading range in between 17600 to 18000 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
18 Stock seeing new Long Positions:
If price increases and open interest increases, then participants are having more of long positions.
16 stock witnessing Long Cover:
If the price decreases and open interest decreases, then participants are long covering their contracts.
21 stocks witnessing short positions:
If price decreases and open interest increases, then participants are having more of short positions.
17 stock witnessing short covering:
If the price increases and open interest decreases, then Participants are short covering their contracts.
FII Activity:
Foreign portfolio investors (FPIs) remained net sellers for Rs 1957.7 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 161.45 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Bulk Deals:
McLeod Russel: IndusInd Bank and Jaikarni Holdings sold 50 lakhs and 10 lakh equity shares respectively in the company at the weighted average price Rs 31.15 per share on the NSE, the bulk deals data showed.
Autoline Industries: Poddar Bhumi Holdings sold 2.65 lakh equity shares to its promoter Rohitashwa Poddar at the weighted average price Rs 55.55 per share on the NSE, the bulk deals data showed.
Industrial Inv Trust: Conlecta Capital Advisors sold 5.31 lakh shares to Systematix Shares and Stocks (India) Limited at the weighted average price Rs 68.2 per share on the NSE, the bulk deals data showed.
Debock Sale Marketing: Ramesh Bhandappa Munnoli sold 66,000 shares to Alexis Capital CEO Radhika Dubash at the weighted average price Rs 45.55 per share on the NSE, the bulk deals data showed.
Stocks under F&O ban on NSE:
Four stocks – Idea, SAIL, Sun Tv and Zee Entertainment Enterprises Limited (ZEEL) - 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.)
11:48 PM IST