The fall in commodity prices in yesterday’s trade, good global cues and BJP’s victory in four out of five states have fueled the market and managed to close with gains for the third consecutive day. BSE Sensex closed 817 points higher at 55,464 level. At the same time, Nifty closed at 16,595 with a gain of 249 points. Nifty formed a Bearish Belt Hold candle yesterday on the Daily Chart.
Nagraj Shetty of HDFC Securities Says that in the last three trading sessions, the market has seen a strong pullback rally of about 1,000 points. The resistance for Nifty at 16,200 and then at 16,500 was broken recently. But the market did not manage to sustain at the upper levels. Now in any downside coming from here, support can be found for Nifty at 16,500 and 16,200. But any bullish coming from here is showing resistance for Nifty at 16,800-17,000.
In yesterday’s trade, along with the giants, small-medium stocks also showed their strength. Nifty Midcap had gained 0.91 and Smallcap had gained 1.4 per cent.
Here we are giving you some such data, on the basis of which it will be easy for you to catch profitable deals. It should be noted here that the Open Interest (OI) and Volume of Stocks figures in this story are the sum total of three months’ data, not just the current month.
Key support and resistance levels for Nifty
The first support for Nifty is located at 16,443 and after that the second support is located at 16,291. If the index turns upwards, then it may face resistance at 16,752 then 16,909.
The first support for Nifty Bank is located at 34,004 and after that the second support is located at 33,533. If the index turns upwards, then it may face resistance at 35,160 then 35,845.
call option data
The maximum call open interest of 21.64 lakh contracts has been seen at the strike of 18000, which will act as an important resistance level in the March series. After this, the highest call open interest of 20.32 lakh contracts is being seen at 17,000. At the same time, there is a call open interest of 17.01 lakh contracts at the strike of 17,500.
Call writing was seen on the strike of 16,700. 1.94 lakh contracts were added to this strike. After that 1.41 lakh contracts have been seen getting added at 16,800 as well.
The maximum call unwinding was seen at the strike of 16,600. This was followed by the highest call unwinding at 16,500 and then 16,900 strike.
put option data
The maximum put open interest of 39.78 lakh contracts has been seen at the strike of 16000, which will act as an important support level in the March series. After this, the highest put open interest of 37.77 lakh contracts is being seen at 16,500. At the same time, there is a Put Open Interest of 32.53 lakh contracts at a strike of 15,500.
Put writing was seen at the strike of 16,500. 6.55 lakh contracts were added to this strike. After that 1.97 lakh contracts have been seen adding even at 16,000. While 1.64 lakh contracts are attached at 16,700.
The maximum put unwinding was witnessed at the 15,500 strike. This was followed by the highest put unwinding at 16,200 and then 15,800 strike.
Stocks with High Delivery Percentage
These include the names of ICICI Pru, Coforge, ICICIGI, HUL. A high delivery percentage is an indication that investors are showing interest in those stocks.
FII and DII figures
Foreign institutional investors sold Rs 1,981.15 crore in Indian markets on March 10. At the same time, domestic institutional investors bought Rs 945.71 crore on this day.
Stocks coming under F&O ban on NSE
No stock is under F&O ban on NSE as on 11th March. It is to be noted that the stocks included in the F&O segment are put in the ban category if the positions of the securities exceed their market wide position limits.
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