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The Indian market on Friday witnessed a selling spree amid Omicron scare as Sensex dipped by over 765 points and Nifty50 gave up key level of 17200-mark, led by bank, metal and auto stocks.

Sectorally, selling was visible almost in all indices such as bank, auto, financial, FMCG, IT, metal, pharma and realty, while the buying interest was seen only in media on the NSE.

Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said, “The Nifty posted a positive weekly close after a steep decline in the last couple of weeks. The index witnessed profit booking on December 03, post a brief recovery.”

“On the higher side, the level of 17500 acted as a key barrier, which induced the selling activity. Nevertheless, the selling pressure reduced near a rising trendline on the hourly chart. Going ahead, 17100 – 17000 is a key support zone which can attract fresh buying support,” he added.

“The low point of the week i.e. 16782 has become a crucial support. Till the time the low holds the index can witness a base formation, which can subsequently lead to further recovery in the short to medium term, Ratnaparkhi also said in a comment.

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 1.18 per cent lower at 17,196. Key Pivot points (Fibonacci) support for the index is placed at 17171, 17098, 16980, and while resistance is placed at 17407, 17480, and 17598.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 0.85 per cent lower at 36,197. Key Pivot points (Fibonacci) support for the index is placed at 36069, 35885, 35586 while resistance is placed at 36666, 36850, and 37149.

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 Call OI is at 18000 then 19000 strike while Maximum Put OI is at 17000 then 16000 strike. Call writing is seen at 17300 then 18000 strike while Put writing is seen at 17300 then 17000 strike.

“Option data suggests a wider trading range in between 16800 to 17700 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

29 Stock seeing new Long Positions:

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

57 stock witnessing Long Cover:

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

59 stocks witnessing short positions:

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

44 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 3356.17 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1648.79 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Silgo Retail Limited: Gautam Kumar Chordia dumped 3,44,001 equity shares in the company at the weighted average price Rs 34.98 per share on the NSE, the bulk deals data showed.

Kirloskar Oil Eng Ltd: Nalanda India Equity Fund Ltd sold 20,21,814 equity shares in the company at the weighted average price Rs 184.88 per share on the NSE, the bulk deals data showed.

National Highway Infra Trust: ICICI Bank Ltd. (Trading) sold 84,00,000 equity shares in the company at the weighted average price Rs 101.61 per share on the NSE, the bulk deals data showed.

Nakoda Group of Industries: Panjwani Pradeep Omprakash sold 69,611 equity shares in the company at the weighted average price Rs 136.15 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Two stocks: Indiabulls Housing Finance and Idea placed under the F&O ban on Monday. 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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