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Traders Watchlist: Top 12 data points to know before stock market opening bell on December 2
The Indian markets ended Wednesday’s session on a positive note amid, as Sensex closed over 600 points higher and Nifty closed above 17150-level, led by metal, auto and bank stocks at the close.
The Indian markets ended Wednesday’s session on a positive note amid, as Sensex closed over 600 points higher and Nifty closed above 17150-level, led by metal, auto, and bank stocks at the close.
Sectorally, selling interest was visible only in pharma, while buying was seen in metal, auto, banking, media, realty stocks.
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Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said, “The Nifty continues to witness oscillations within the dynamic falling channel & formed an Inside bar on the daily chart on December 01, 2021.”
“A recent dip on Tuesday had taken support near the hourly lower Bollinger Band. Thereon the index took a leap towards the junction of the 40-hour exponential moving average & the hourly upper Bollinger Band. Also, the Nifty has reached the upper end of the dynamic falling channel,” he added.
Ratnaparkhi further said, “All these parameters are in the range of 17230-17250. Beyond this barrier, the bulls will be set to stretch their arms. Also, the positive momentum is expected to pick up further once the swing high of 17324 gets taken out.”
The analyst advises, “Traders need to closely monitor these levels going ahead. On the other hand, 17060-17000 will be the near term support zone, which can provide cushion in the case of any minor degree dip.”
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 1.08 per cent higher at 17,167. Key Pivot points (Fibonacci) support for the index is placed at 17091, 17056, 16999, and while resistance is placed at 17204, 17240, and 17296.
Key support & resistance levels for Nifty Bank:
The NiftyBank closed 1.88 per cent higher at 36,364. Key Pivot points (Fibonacci) support for the index is placed at 35960, 35809, 35564 while resistance is placed at 36449, 36600, and 36845.
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 19000 strike while Maximum Put OI is at 17000 then 16000 strike. Call writing is seen at 17200 then 17100 strike while Put writing is seen at 17200 then 17000 strike.
“Option data suggests a wider trading range in between 16750 to 17350/17500 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
64 Stock seeing new Long Positions, below are top 20:
If price increases and open interest increases, then participants are having more of long positions.
20 stock witnessing Long Cover:
If the price decreases and open interest decreases, then participants are long covering their contracts.
44 stocks witnessing short positions:
If price decreases and open interest increases, then participants are having more of short positions.
81 stock witnessing short covering, below are top 20:
If the price increases and open interest decreases, then Participants are short covering their contracts.
Foreign portfolio investors (FPIs) remained net sellers for Rs 2765.84 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 3467.02 crore, provisional data showed on the NSE.
FII Index and Stock F&O:
Nakoda Group Industries: Panjwani Pradeep Omprakash sold 1,00,000 equity shares in the company at the weighted average price Rs 123.56 per share on the NSE, the bulk deals data showed.
Shrem Invit: Adhunik Residency Private Limited picked up 40,00,000 equity shares in the company at the weighted average price Rs 101 per share on the NSE, the bulk deals data showed.
Spectrum Electric: Bharti Deepak Chaudhari bought 76,000 equity shares in the company at the weighted average price Rs 51.6 per share on the NSE, the bulk deals data showed.
GSS Infotech Limited: Kailash Kumar Agrawal bought 1,00,000 equity shares in the company at the weighted average price Rs 109.36 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 Wednesday. 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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