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The Indian market ended Wednesday’s trading session on a negative note for second consecutive session, Sensex slipped over 250 points and Nifty50 closed above the 17700-mark. The fall was led by banking and financial stock along with auto and FMCG counters.

Sectorally, selling pressure was visible in bank, auto, financial services and FMCG indices while buying interest was seen in metal, IT, media, pharma, realty stocks.

“The Nifty is currently in a short term consolidation mode post a brief distribution near the daily upper Bollinger Band in the last few sessions. On September 29, the index opened gap down, which was followed by a gradual recovery.” Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.

However, the index faced selling pressure again as it entered the positive territory & turned negative towards the end of the session, Ratnaparkhi added.

He further said, “The hourly chart shows that the Nifty is facing resistance near the key hourly moving averages & is expected to form the next leg down from current level. Thus the index can test 17500-17400 on the downside. Overall, the Nifty is expected to witness short term consolidation in the range of 17400-17900.”

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 1.07 percent lower at 17,396. Key Pivot points (Fibonacci) support for the index is placed at 17634, 17593, as well as 17526 while resistance is placed at 17766, 17807, and 17874.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 1.7 per cent lower at 37,145. Key Pivot points (Fibonacci) support for the index is placed at 37468, 37337, as well as 37126 while resistance is placed at 37890, 38020, and 38231.

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 17900 strike.

Call writing is seen at 18000 then 17800 strike while Put writing is seen at 17600 then 17650 strike.

“Option data suggests a trading range in between 17600 to 17900 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.

14 stock witnessing Long Cover:

If the price decreases and open interest decreases, then participants are long covering their contracts.

17 stocks witnessing short positions:

If price decreases and open interest increases, then participants are having more of short positions.

31 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 cr 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.

At least 141 stocks witnessed higher delivery quantity, below are the top 15 counters:

 

Bulk Deals:

Just Dail: Nalanda India Equity Fund sold over 10 lakh shares in the company at the weighted average price Rs 990 per share on the NSE, the bulk deals data showed.

Max Healthcare Institute: HDFC MF and SBI MF bought 57 lakh and 4.28 crore shares, respectively in the company at the weighted average price Rs 350 per share on the NSE, the bulk deals data showed.

Kesoram Industries: IndusInd Bank sold 5.61 lakh equity shares in the company at the weighted average price Rs 10.62 per share on the NSE, the bulk deals data showed.

Sunteck Realty: Tata Mutual Fund- Money Market Fund bought 11 lakh equity shares in the company at the weighted average price Rs 465.12 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Only one stock – Sun TV is 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.



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