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Traders Watchlist: Top 12 data points to know before market opening bell on December 7
Sensex plunged over 1000 points from day’s level and Nifty50 gave up key level of 17000-mark, led by IT, FMCG and auto stocks.
The Indian market for the second straight session witnessed massive selling amid weak global cues and Omicron scare. Sensex plunged over 1000 points from day’s level and Nifty50 gave up key level of 17000-mark, led by IT, FMCG and auto stocks.
Sectorally, massive selling was visible in all indices such as IT, FMCG, bank, auto, financial, metal, pharma, media and realty.
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Sachin Gupta AVP, Research Choice Broking said, “The index has formed a bearish Marubozu candle, which points out a weakness for the next trading session on the technical front. Moreover, the index has also settled below 100 DMA, which indicates further bearishness.”
He added, “In addition, the index has moved below the rising trendline, which is again a bearish confirmation. At present, the Index has support at 16700 levels while resistance comes at 17300 levels. On the other hand, Banknifty has support at 35300 levels while resistance at 37000 levels.”
Similarly, Vinod Nair, Head of Research at Geojit Financial Services mentioned, “Ambiguity surrounding Omicron continued to dent the morale of domestic investors ahead of the important RBI policy announcement on Wednesday.”
According to Nair, “The domestic market is expected to be volatile as the near-term will be dominated by developments on new variant and, RBI and FED policy decisions. Market expects RBI to hold-on to the accommodative policy considering short-term uncertainties.”
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 1.65 per cent lower at 16,912. Key Pivot points (Fibonacci) support for the index is placed at 16882, 16805, 16681, and while resistance is placed at 17131, 17207, and 17332.
Key support & resistance levels for Nifty Bank:
The NiftyBank closed 1.27 per cent lower at 35,735. Key Pivot points (Fibonacci) support for the index is placed at 35678, 35525, 35277 while resistance is placed at 36173, 36326, and 36573.
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 Option front, Maximum Call OI is at 18000 then 17500 strike while Maximum Put OI is at 17000 then 16000 strike. Call writing is seen at 17300 then 17500 strike while Put writing is seen at 16800 then 16000 strike.
“Option data suggests a wider trading range in between 16600 to 17400 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
03 Stock seeing new Long Positions:
If price increases and open interest increases, then participants are having more of long positions.
92 stock witnessing Long Cover, below are top 20:
If the price decreases and open interest decreases, then participants are long covering their contracts.
86 stocks witnessing short positions, below are top 20:
If price decreases and open interest increases, then participants are having more of short positions.
07 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 sellers for Rs 3361.28 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1701.56 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Silgo Retail Limited: Anuradha Suri bought 94,593 equity shares in the company at the weighted average price Rs 31.25 per share on the NSE, the bulk deals data showed.
MT Educare Ltd: Axis Bank Limited sold 9,18,033 equity shares in the company at the weighted average price Rs 7.77 per share on the NSE, the bulk deals data showed.
Libas Consu Products Ltd: Mahimtura Nishant Mitrasen sold 7,00,000 equity shares in the company at the weighted average price Rs 29.41 per share on the NSE, the bulk deals data showed.
Jump Networks Limited: Diksha Mahesh Kothari sold 5,47,704 equity shares in the company at the weighted average price Rs 7.69 per share on the NSE, the bulk deals data showed.
Stocks under F&O ban on NSE
One stock: Indiabulls Housing Finance placed under the F&O ban on Tuesday. 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.)
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