Consolidation was seen in the market on March 11, but at the end of trading, for the fourth consecutive day, managed to close with a slight increase. Traders’ eyes were on the Russia-Ukraine war. The fighting is expected to intensify as Russia moves closer to Ukraine’s capital Kyiv. The Sensex closed at 55,550 with a gain of 86 points on the previous trading day. At the same time, Nifty closed at the level of 16,630 with a gain of 36 points. Nifty has formed a Bullish Engulfing Pattern on the Weekly Scale.
Mazhar Mohammad of Chartviewindia Says Nifty has touched 200-day EMA (16,693) in the last two trading sessions before entering the consolidation phase. In such a situation, it will be important for this index to stay above the bullish gap zone in the zone of 16,447 – 16,418. If Nifty manages to stay above this gap zone, then it will look to cross the hurdles located in the zone of 16,700 – 16,800 and make further efforts to move up.
Mazhar Mohammed According to this, once the Nifty succeeds in knowing above 16,800, then the break out of the upside will be confirmed. Which may also indicate that the bottom has been formed at 15671. In this situation we can see Nifty going towards 17025. On the other hand, if Nifty closes below 16400, then profit collection can increase in the market. So, if some of the positional traders are holding long positions, they should put a stop loss below 16400.
Here we are giving you some such data, on the basis of which it will be easy for you to catch profitable deals. Please note 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 16503 and after that the second support is located at 16375. If the index moves upwards then it may face resistance at 16726 then 16822.
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The first support for Nifty Bank is located at 34134 and after that the second support is located at 33,721. If the index turns upwards, then it may face resistance at 34,919 then 35,293.
call option data
The maximum call open interest of 22.46 lakh contracts has been seen at the 18000 strike, which will act as an important resistance level in the March series. After this, the highest call open interest of 20.07 lakh contracts is being seen at 17000. At the same time, there is a call open interest of 16.14 lakh contracts at the strike of 17,500.
Call writing was seen on the strike of 17600. 1.02 lakh contracts were added to this strike. After that 82450 contracts have been seen joining at 18000 also.
The maximum call unwinding was seen on the strike of 17500. This was followed by the highest call unwinding at 16000 and then 16300 strike.
put option data
The maximum put open interest of 41.96 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 39.59 lakh contracts is being seen at 16500. At the same time, there is a Put Open Interest of 31.35 lakh contracts at the 15500 strike.
Put writing was seen on the strike of 16000. 2.17 lakh contracts were added to this strike. After that 1.82 lakh contracts have been seen getting added even at 16500. Whereas 1.15 lakh contracts are attached at 15800.
The maximum put unwinding was seen at the 15500 strike. This was followed by the highest put unwinding at 17500 and then 16200 strike.
Stocks with High Delivery Percentage
These include the names of OFSS, GMR Infra, ICICIGI, Pfizer and Astrol. A high delivery percentage is an indication that investors are showing interest in those stocks.
FII and DII figures
On March 11, foreign institutional investors sold Rs 2,263.90 crore in the Indian markets. On the other hand, domestic institutional investors bought Rs 1,686.85 crore on this day.
Stocks coming under F&O ban on NSE
No stock is under F&O ban on NSE as on 14th 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.
Short covering seen in 76 stocks
A fall in open interest along with an increase in prices usually indicates short covering. On the basis of open interest futures percentage, the names of 76 stocks which saw the highest short covering in yesterday’s trade include AU Bank, MCX, GAIL, Naveen Fluorine, Trent and Polycab.
Mixed cues from global markets
Global markets are showing mixed signals on the first trading day of the week. Most of the Asian markets are trading strong. There is also a boom in DOW FUTUERS. Crude oil also remains soft, but slight weakness has been seen in SGX Nifty. US markets were down on Friday.
RBI gave big relief to HDFC Bank
RBI gave big relief to HDFC Bank. All the restrictions related to launch of new credit cards have been removed. The bank said that customers will be able to get all the services of Digital 2.0.
Shock from RBI to Paytm Payments Bank
Paytm got a big blow from RBI. RBI has taken strict action on Paytm Payments Bank. Adding new customers is prohibited. IT audit has also been ordered. The share has slipped 63% from the issue price.
CEO of JUBILANT FOOD resigns
Pratik Pota, the CEO of JUBILANT FOODWORKS has resigned. Will step down on June 15. The company was taken over in 2017.
Second phase of budget session from today
The second phase of the budget session of Parliament is starting from today. Finance Minister Nirmala Sitharaman will present the budget of Jammu and Kashmir.
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