On March 30, 2022, before the expiry of March derivatives contracts, the market saw an increase for the third consecutive day. In yesterday’s trade, Sensex-Nifty managed to close with a gain of about 1 percent. Banking, Financials, Auto and IT stocks gave strong support to the market in yesterday’s trade. Some positive signs have emerged in the ongoing peace talks between Russia and Ukraine. This has raised hopes of some reduction in geopolitical tensions in Eastern Europe. This has also supported the market sentiment.
The BSE Sensex closed at 58684 with a gain of 740 points yesterday. At the same time, the Nifty50 index closed at the level of 17498 with a gain of 173 points. Nifty broke its last week’s consolidation zone yesterday and formed a small bullish candle on the daily chart.
Rajesh Palviya of Axis Securities Says that the index has made a higher top higher bottom formation on the daily chart which is a positive trend. This consolidation is also supported by the 200-Day SMA (17,060), which continues to be an important support zone for the Nifty. Hence, short term traders are advised to remain long on closing basis with a stop loss of 17300. The short term trend of Nifty remains bullish. In this, we may soon see the level of 17,600-17,700. The Daily Strength Indicator RSI (relative strength index) continues to be bullish which is indicating a durable bullish trend.
In yesterday’s trade, along with the giants, there was a rise in the small-medium stocks. The Nifty Midcap index had gained 0.85 percent and the Smallcap index had gained 0.97 percent.
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 17416 and after that the second support is located at 17334. If the index moves upwards then it may face resistance at 17551 then 17605.
The first support for Nifty Bank is located at 36130 and after that the second support is located at 35925. If the index moves upwards then it may face resistance at 36480 then 36625.
call option data
The strike of 18000 has seen the maximum call open interest of 1.01 crore contracts which will act as a key resistance level in the March series. After this, the highest call open interest of 56.25 lakh contracts is being seen at 17500. At the same time, there is a call open interest of 55.51 lakh contracts at the strike of 17800.
Call writing was seen on the strike of 17600. 10.14 lakh contracts were added to this strike. After that 9.31 lakh contracts have been seen on 18000 also.
The maximum call unwinding was seen on the strike of 17300. This was followed by the highest call unwinding at the strike of 17400 and then 17500.
put option data
The maximum put open interest of 65.20 lakh contracts has been seen at the strike of 17000, which will act as an important support level in the March series. After this, the highest put open interest of 60.52 lakh contracts is being seen at 16500. At the same time, there is a Put Open Interest of 57.78 lakh contracts at the strike of 17200.
Put writing was seen on the strike of 17500. 38.16 lakh contracts were added to this strike. After that 33.49 lakh contracts have been seen on 17400 also. Whereas 9.47 lakh contracts are attached at 16900.
Maximum put unwinding was seen at 16600 strike. This was followed by the highest put unwinding at 16400 and then 16500 strike.
Stocks with High Delivery Percentage
These include the names of United Breweries, Infosys, Max Financial Services, HDFC Bank and HCL Technologies. A high delivery percentage is an indication that investors are showing interest in those stocks.
FII and DII figures
On March 30, foreign institutional investors bought Rs 1357.47 crore in the Indian markets. On the other hand, domestic institutional investors bought Rs 1,216 crore on this day.
Stocks coming under F&O ban on NSE
On March 31, only 1 stock Vodafone Idea is under F&O ban on NSE. 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.
Mixed signals from global market
There are mixed signals from the global market on the last trading day of FY22. MIXED trend is visible in Asia. SGX NIFTY has gone above 17 thousand 525 with a slight increase. There is a strength of about 100 marks in DOW FUTURES. However, after 4 days of gains yesterday, the US markets closed on the downside.
Crude softens, OPEC+ meeting today
Crude oil has softened ahead of OPEC+ meeting today. Brent has come near $108. But here the prices of petrol and diesel have increased for the 9th time in 10 days. Petrol and diesel have become costlier by 80 paise.
AXIS BANK and CITI DEAL
Axis Bank will buy Citi’s consumer business for Rs 12,325 crore. Citi’s 3600 employees will be transferred to Axis Bank, the deal may be completed by June 2023.
Block deal possible today in MAX HEALTHCARE
Big block deal can happen in MAX HEALTHCARE today. KKR PVT EQUITY FUND may sell shares worth Rs 2800 crore. The price band has been fixed between Rs.340 to Rs.361 at around 5% discount.
Government will buy helicopters from HAL
The government has approved the proposal to buy 15 Light Combat Helicopters. Helicopters worth Rs 3890 crore will be purchased from Hindustan Aeronautics.
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