Traders Watchlist: Top 12 data points to know before opening bell on December 17

Amid high volatility, the Indian markets closed on a higher note during Thursday’s session, as Sensex jumped 133 points, Nifty50 settled near 17250-level; IT stocks lead the surge.

Sectorally, selling was visible in almost all indices such as FMCG, Financial, Auto, Pharma: PTI

Amid high volatility, the Indian markets closed on a higher note during Thursday’s session, as Sensex jumped 133 points, Nifty50 settled near 17250-level; IT stocks lead the surge.

Sectorally, selling was visible in almost all indices such as FMCG, Financial, Auto, Pharma, Bank, and Realty, while buying was witnessed only in IT index.

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Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said, “Key benchmark indices eked out small gains in a volatile trading session as strength in global markets boosted sentiment here.”

He added, “On intraday charts, the Nifty has maintained a lower top formation as it once agains witnessed selling pressure near 17350, which is broadly negative for the market. However, in this week so far, the index corrected over 450 points and trading near key retracement support level.”

While the short term texture of the market is still weak, a quick pullback rally is not ruled out, if the Nifty succeeds to trade above 17350, the Kotak Securities market analyst said.

“However, if it trades below 17350, a correction wave could continue up to 17200-17150. For the bulls, 17350 would be the intraday breakout level and above the same, the reversal formation will persist up to 17400-17435,” Chouhan said in post market comment on Thursday.

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 0.16 per cent higher at 17,248. Key Pivot points (Fibonacci) support for the index is placed at 17196, 17150, 17076, and while resistance is placed at 17345, 17391, and 17465.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 0.65 per cent lower at 36,548. Key Pivot points (Fibonacci) support for the index is placed at 36402, 36219, 35924 while resistance is placed at 36993, 37175, and 37471.

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 17500 strike while Maximum Put OI is at 17000 then 16000 strike. Call writing is seen at 17500 then 17550 strike while Put writing is seen at 17200 then 16900 strike.

“Option data suggests a wider trading range in between 17000 to 17500 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

28 Stock seeing new Long Positions:

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

50 stock witnessing Long Cover:

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

66 stocks witnessing short positions, below are top 20:

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

45 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 1468.71 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1533.15 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Indiabulls Housing: Inuus Infrastructure Private Limited also sold 70,28,000 equity shares in the company at the weighted average price Rs 262.35 per share on the NSE, the bulk deals data showed.

Vedanta Limited: Vedanta Holdings Mauritius Ii Limited bought 17,01,16,200 equity shares in the company at the weighted average price Rs 352.7 per share on the NSE, the bulk deals data showed.

Kotyark Industries: Sejalkumar Pannalal Shah bought 1,02,000 equity shares in the company at the weighted average price Rs 92 per share on the NSE, the bulk deals data showed.

Websol Energy: India Max Investment Fund sold 3,45,835 equity shares in the company at the weighted average price Rs 97.89 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Two stocks: Escorts and Idea are placed under the F&O ban on Friday. 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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