The market witnessed a strong rally for the second consecutive day in the business of March 9 i.e. yesterday. Market closed with gains of over two per cent in yesterday’s trade on the back of positive European cues and buying in all sectors except metal. Sensex closed at the level of 54647 with a gain of 1223 points. At the same time, Nifty closed at the level of 16345 with a gain of 332 points. Daily Chart Nifty formed a Bullish candle yesterday. Malay Thakkar of GEPL Capital says that this chart formation is indicating heavy buying at lower levels.
Malay Thakkar says that the market’s yesterday’s rally also got strong support due to the rise in small-medium stocks. This upmove should be viewed as a short term pull back. This pull back can take Nifty towards 16480 and 16780. He also said that despite this, the mid-term trend of the index will remain weak as long as it remains below 16,850-16,950. This level is a cluster of 20 and 200 day moving averages for Nifty and it is also a gap resistance.
In yesterday’s trade, along with the giants, buying was seen in small and medium stocks. Nifty Midcap and Smallcap indices closed with gains of over 2 per cent in yesterday’s trade.
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 16,084 and after that the second support is located at 15,823. If the index turns upwards, then it may face resistance at 16,512 then 16,679.
The first support for Nifty Bank is located at 33,186 and after that the second support is located at 32,557. If the index turns upwards, then it may face resistance at 34,207 then 34,598.
call option data
The maximum call open interest of 21.36 lakh contracts has been seen at the strike of 17000, which will act as an important resistance level in the March series. After this, the highest call open interest of 17.23 lakh contracts is being seen at 16,500. At the same time, there is a call open interest of 16.70 lakh contracts at the strike of 17,500.
Call writing was seen on the strike of 16,600. 1.86 lakh contracts were added to this strike. After that 1.56 lakh contracts have been seen adding even at 17,000.
The maximum call unwinding was seen at the strike of 15,800. This was followed by the highest call unwinding at the strike of 16,000 and then 16,100.
put option data
The maximum put open interest of 37.81 lakh contracts has been seen at the strike of 16,000, which will act as an important support level in the March series. After this, the highest put open interest of 34.79 lakh contracts is being seen at 15500. At the same time, there is a Put Open Interest of 31.22 lakh contracts at the 16500 strike.
Put writing was seen at the strike of 16,200. 2.27 lakh contracts were added to this strike. After that 1.8 lakh contracts have been seen getting added even at 16,600. Whereas 1.17 lakh contracts are attached at 15,500.
The maximum put unwinding was witnessed at the 15,800 strike. This was followed by the maximum unwinding of put at 16,500 and then 15,700 strike.
Stocks with High Delivery Percentage
These include the names of Marico, Fiber, ABB and Colgate. A high delivery percentage is an indication that investors are showing interest in those stocks.
FII and DII figures
On March 9, foreign institutional investors sold Rs 4,818.71 crore in the Indian markets. On the other hand, domestic institutional investors bought Rs 3,275.94 crore on this day.
Stocks coming under F&O ban on NSE
No stock is under F&O ban on NSE as on 10th 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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