On October 5, another strong trading session was witnessed in the market. Benchmark indices were seen making up for the losses of the previous trading sessions. IT, select banks, financial and auto stocks supported the market. BSE Sensex closed at 59,744.88 with a gain of 445.56 points yesterday. At the same time, Nifty50 closed 131 points higher at 17,822.30 and formed a bullish candle on the daily chart for the second consecutive day.
Shrikant Chauhan of Kotak Securities says that despite the poor global cues, there is enthusiasm and hope in the market before the results season. Based on the previous reversal formation, the index has formed an Uptrend Continuation Formation on the Daily Chart. At the same time, promising higher high and higher low series formation has been made on the intraday chart, which is a sign of further bullishness.
He further said that for the traders following the trend, support is visible at 17,750. If Nifty manages to stay above it, then this rally can go up to 17,880-17,900. On the other hand, if the Nifty slips below 17,750, the level of 17,710 can be seen. The broader market also continued to rally during the period. Yesterday the Nifty Mid and Smallcap 100 indices closed with a gain of 0.4 per cent.
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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 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 17,697.67 and after that the second support is located at 17,573.03. If the index moves upwards, then it may face resistance at 17,890.17 then 17,958.03.
The first support for Nifty Bank is located at 37,475 and after that the second support is located at 37,209. If the index turns upwards, then it may face resistance at 37,896.8 then 8,052.6.
call option data
The maximum call open interest of 22.59 contracts has been seen at the 18000 strike, which will act as an important resistance level in the October series. After this, the highest call open interest of 14.70 lakh contracts is being seen at 18,500. At the same time, there is a call open interest of 4.93 lakh contracts at the strike of 17,800.
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Call writing was seen at the strike of 17,800. 1.43 lakh contracts were added to this strike. After that 1.1 lakh contracts have been seen getting added even at 18,300. While 72,350 contracts were seen adding up at 18,000 strike.
The maximum call unwinding was seen at the strike of 17,700. This was followed by the highest call unwinding at the strike of 17,600 and then 17,500.
put option data
The maximum put open interest of 32.32 lakh contracts has been seen at the strike of 17000, which will act as a key resistance level in the October series. After this, the highest put open interest of 26.80 lakh contracts is being seen at 17,500. At the same time, there is a Put Open Interest of 14.26 lakh contracts at a strike of 17,200.
Put writing was seen at the strike of 17,800. 1.61 lakh contracts were added to this strike. After that 1.29 lakh contracts have been seen getting added even at 17,500. While 49,350 contracts were seen adding up on the 17,900 strike. At the same time, maximum put unwinding was seen on the strike of 17700.
Stocks with High Delivery Percentage
These include the names of Grasim, ICICIGI, Kotak Bank, HDFC AMC, Dabur and Balkrishna Industries. A high delivery percentage indicates that investors are showing interest in those stocks.
FII and DII figures
Foreign institutional investors sold Rs 1,915.08 crore in Indian markets on October 5. On the other hand, domestic institutional investors bought Rs 1,868.23 crore on this day.
Stocks coming under F&O ban on NSE
Only one stock on NSE on 4th October NALCO F&O is under ban. 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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