Traders Watchlist: Top 12 data points to know before the share market opening bell on Thursday

Indian market closed in the red for the second consecutive day in a row on Wednesday following selling pressure from foreign and domestic investors. The S&P BSE Sensex fell over 450 points while the Nifty50 failed to hold on to 18300 levels.

Sectorally, selling pressure was visible in metals, auto, FMCG, pharma, banking, and financial services indices: PTI

Indian market closed in the red for the second consecutive day in a row on Wednesday following selling pressure from foreign and domestic investors. The S&P BSE Sensex fell over 450 points while the Nifty50 failed to hold on to 18300 levels.

Sectorally, selling pressure was visible in metals, auto, FMCG, pharma, banking, and financial services indices while buying interest was seen in media and PSU bank stocks.

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“The Nifty had formed a bearish outside bar along with an Engulfing bear candle at the daily upper Bollinger Band on October 19. Follow-through of these bearish patterns was seen on the downside on October 20,” Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said.

He added, “In terms of the levels, 18600 acted as a stiff barrier from where the Nifty has come down to test its near term support of 18200. Near 18200 the selling pressure abated for the day.”

“However if 18200 is breached on the downside then the index can tumble towards the crucial 18000 mark. The level of 18000, which earlier acted as a resistance, will now pose as support as per the principle of role reversal. On the flip side, any minor degree bounce is likely to stumble near 18400-18450. Overall, the Nifty is expected to stay in a short-term consolidation,” Ratnaparkhi said.

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 0.83 percent lower at 18,266. Key Pivot points (Fibonacci) support for the index is placed at 18216, 18157, as well as 18062 while resistance is placed at 18406, 18465, and 18560.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 0.06 per cent lower at 39518. Key Pivot points (Fibonacci) support for the index is placed at 39344, 39230, as well as 39046 while resistance is placed at 39712, 39826, and 40010.

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 17500 followed by 18000 strike while maximum Call OI is at 18500 followed by 19000 strike. Call writing is seen at 18300 then 18400 strike while minor Put writing is seen at 18200 than 17500 strike.

“Option data suggests an immediate trading range in between 18100 to 18600 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

6 Stock seeing new Long Positions:

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

26 stock witnessing Long Cover:

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

34 stocks witnessing short positions:

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

10 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 1843.09 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 1680.73 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Sical Logistics Limited: Axis Bank Limited sold 9,48,888 equity shares in the company at the weighted average price Rs 17.73 per share on the NSE, the bulk deals data showed.

One Point One Sol Ltd: Chirag Narendra Modh sold 5,48,170 equity shares in the company at the weighted average price Rs 41.25 per share on the NSE, the bulk deals data showed.

Nakoda Group of Ind. Ltd: Saroj Gupta bought 80,000 equity shares in the company at the weighted average price Rs 93.5 per share on the NSE, the bulk deals data showed.

Ajooni Biotech Limited: Pritika Engineering Components Pvt Ltd sold 2,00,000 equity shares in the company at the weighted average price Rs 62 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Ten stocks – Amara Raja, Escorts, Idea, IRCTC, L&T Finance, NALCO, PNB, SAIL, Sun TV and Tata Power - are 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.

(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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