For the third consecutive day of trading on October 11, the market saw a rise. Nifty hit 18000 level for the first time in yesterday’s trade. The market got strong support from banking, financial, auto, FMCG and select pharma stocks in the trading of October 11. Along with the giants, there was strong buying in small-medium stocks yesterday. Yesterday Nifty Midcap gained 0.61 per cent and Smallcap gained 1.16 per cent.
The Sensex closed at 60,135.78 with a gain of 76.72 points on the last trading day. At the same time, Nifty closed at 17,946 with a gain of 50.80 points. Since the closing was higher than the opening, Nifty formed a bullish candle on the daily chart.
Rajesh Palviya of Axis Securities Says Daily Price Action has formed a Small Bullish candlestick pattern and a new High of 18,041 is formed which is indicating a positive trend in the market. The next important upper level of Nifty will be 18,050. If Nifty crosses this level then we can see it moving towards 18,100-18,200.
He further said that in case of any weakness, if Nifty slips below the intraday support of 17,850, it can go towards 17,700-17,600.
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 17,842.7 and after that the second support is located at 17,739.5. If the index turns upwards, then it may face resistance at 18,045.5 then 18,145.1.
The first support for Nifty Bank is located at 37,860.5 and after that the second support is located at 37,427.2. If the index moves upwards then it may face resistance at 38,611.2 then 38,928.6.
call option data
The maximum call open interest of 21.70 lakh contracts has been seen at the strike of 18000, which will act as a key resistance level in the October series. After this, the highest call open interest of 17.56 lakh contracts is being seen at the strike of 18500. At the same time, there is a call open interest of 15.58 lakh contracts at the strike of 17800.
Call writing was seen on the strike of 18000. 2.21 lakh contracts were added to this strike. After that 1.72 lakh contracts have been seen to be added even at 18500. At the same time, 1.51 lakh contracts were added even on 18400.
The highest call unwinding was seen on the strike of 17900. This was followed by the highest call unwinding at the strike of 17500 and then 17800.
put option data
The maximum put open interest of 31.84 lakh contracts has been seen at the strike of 17000, which will act as an important resistance level in the October series. After this, the highest put open interest of 30.90 lakh contracts is being seen at 17500. At the same time, there is a put open interest of 21.31 lakh contracts at the strike of 17800.
The maximum put unwinding was seen at the strike of 17700. This was followed by the highest put unwinding at the strike of 17100 and then 17600.
Stocks with High Delivery Percentage
These include HUL, HDFC, ICICIGI, Torrent Pharma and Godrej CP. High delivery percentages indicate that investors are showing interest in those stocks.
FII and DII figures
On October 11, foreign institutional investors sold Rs 1,303.22 crore in the Indian markets. On the other hand, domestic institutional investors sold Rs 373.28 crore on this day.
Stocks coming under F&O ban on NSE
Bank of Baroda, BHEL, Canara Bank, Indiabulls Housing Finance, IRCTC, NALCO, Punjab National Bank, SAIL and Sun TV Network are in the F&O ban on NSE on October 12. 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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