On 7 March also, there was heavy selling in the market. Along with Sensex-Nifty, mid and small cap indices were also seen breaking more than 2 percent in yesterday’s trade. In yesterday’s business, concerns about rising inflation affecting growth dominated. If we look at the commodity market, the rising prices of Tol kept everyone worried. Due to the fear of sanctions from the US and its allies on Russia’s crude oil and gas, the price of crude showed a 13-year high.
In yesterday’s trade, Sensex closed down 1,491 points or 2.74 per cent at 52,843. At the same time, Nifty fell 382 points, or 2.35 percent, to close at 15,863. Nifty formed a doji candle on the daily chart yesterday.
Nagraj Shetty of HDFC Securities This type of doji formation usually indicates a possible reversal pattern after an upmove or down move. In such a situation, there is a possibility of a bounce in the market in the short term. But he also said that the short term trend of Nifty looks weak. The recovery in the market in the last trading hours on Monday creates the possibility of a pullback rally in the short term. A durable upside bounce could be seen from here or lower levels of 15,700-15,500 in the next few trading sessions.
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 15,735 and after that the second support is located at 15,607. If the index turns upwards, then it may face resistance at 15,968 then 16,073.
The first support for Nifty Bank is located at 32,317 and after that the second support is located at 31,763. If the index turns upwards, then it may face resistance at 33,484 then 34,097.
call option data
The strike of 17,000 saw the maximum call open interest of 19.65 lakh contracts, which would act as a key resistance level in the March series. After this, the highest call open interest of 16.72 lakh contracts is being seen at 16,500. At the same time, there is a call open interest of 13.32 lakh contracts at the strike of 16,000.
Call writing was seen on the strike of 16000. 7.66 lakh contracts were added to this strike. After that 7.14 lakh contracts have been seen getting added even at 15,800.
The maximum call unwinding was seen at the strike of 16,300. This was followed by the highest call unwinding at the strike of 17,000 and then 16,700.
put option data
The maximum put open interest of 37.48 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 35.13 lakh contracts is being seen at 16500. At the same time, there is a Put Open Interest of 31.26 lakh contracts at a strike of 15,500.
Put writing was seen at the strike of 15,200. 3.94 lakh contracts were added to this strike. After that 3.61 lakh contracts have been seen getting added even at 15,800. Whereas 2.58 lakh contracts are attached for 15,000.
The maximum put unwinding was witnessed at 16,500 strike. This was followed by the highest unwinding of puts at the strike of 16,000 and then 15,500.
Stocks with High Delivery Percentage
These include the names of OFSS, Nestle, Sun TV, Page End, Berger Paint and HDFC. A high delivery percentage is an indication that investors are showing interest in those stocks.
FII and DII figures
On 7 March, Foreign Institutional Investors sold Rs 7482.08 crore in the Indian markets. At the same time, domestic institutional investors bought Rs 5331.03 crore on this day.
Stocks coming under F&O ban on NSE
No stock is under F&O ban on NSE as on 8th 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.
Today’s trading stocks in which there can be strong earnings in intraday
Intraday call by Sumit Bagadia of Choice Broking
UPL: Buy at current price, target – Rs 750 -760, stop loss – Rs -715
Dwarikesh Sugar: Buy at current price, Target – Rs 103-108, Stop Loss – Rs 90
IIFL’s Anuj Gupta’s intraday call
GAIL: Buy Target – Rs 190, Stop Loss – Rs-144
Hindustan Copper: Buy, target – Rs 136, stop loss Rs -112
Intraday Call by Avinash Gorakshakar of Profitmart Securities
Coal India: Buy at current price, Target – Rs 200, Stop Loss Rs-183
ONGC: Buy at current price, target Rs -198, stop loss Rs-182
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