The 7-day rally of the market was halted due to the sell-off in the last trading hours in the trading of yesterday i.e. 19 October. FMCG, Metals, Pharma and select bank stocks played an important role in reining in the market rally. However, in yesterday’s trade, the benchmark indices hit record highs after opening with a bullish momentum. But later profit collection seemed to dominate.
The BSE Sensex had also crossed the 62,000 level in intraday before closing down 49.54 points at 61,716.05 in trading on October 19. At the same time, Nifty was also seen crossing the level of 18,600. However, at the end of trading, it closed at 18,418.80, down 58.20 percent. Nifty formed a Bearish Engulfing Pattern on the Daily Chart yesterday.
Shrikant Chauhan of Kotak Securities It is said that finally there was profit recovery in the market. But before that the major indices hit record highs. After the recent uptrend, the market can now see a period of recovery of profits. Nifty has formed a bearish candle formation on the daily chart which is a negative sign.
He further said that Nifty has formed a lower top formation on the intraday chart. This is also a sign of intraday weakness. For day traders, the level of 18,550-18,600 will act as an immediate hurdle. Know below this, but the downside in Nifty can be seen at the level of 18,350-18,300. On the other hand, if Nifty goes above 18,600, then we can see the level of 18,650-18,675 in this. Contra traders can take long positions around the support level of 18,300 with a stop loss of 18,250.
In yesterday’s trade, there was more fall in the small-medium stocks than the giants. Nifty Midcap was broken at 2.17 fees yesterday. At the same time, Smallcap had fallen 1.69 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 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 18,329.53 and after that the second support is located at 18,240.27. If the index turns upwards, then it may face resistance at 18,556.23 then 18,693.67.
Nifty Bank
The first support for Nifty Bank is located at 39,286.09 and after that the second support is located at 39,031.7. If the index turns upwards, then 39,903 but it may face 40,265.5 resistance.
call option data
The maximum call open interest of 21.24 lakh contracts has been seen on the 18500 strike, which will act as a key resistance level in the October series. After this, the highest call open interest of 18.19 lakh contracts is being seen at 19000. At the same time, there is a call open interest of 13.01 lakh contracts at the strike of 18600.
Call writing was seen on the strike of 18600. 3.25 lakh contracts were added to this strike. After that 3.03 lakh contracts have been seen to be added even at 18400.
The maximum call unwinding was seen at the strike of 18000. This was followed by the highest call unwinding at the strike of 18200 and then 17900.
put option data
The maximum put open interest of 28.29 lakh contracts has been seen at the strike of 18500, which will act as an important resistance level in the October series. After this, the highest put open interest of 26.18 lakh contracts is being seen at 18000. At the same time, there is a put open interest of 24.29 lakh contracts at the strike of 17500.
Put writing was seen on the strike of 18400. 8.86 lakh contracts were added to this strike. After that 7.46 lakh contracts have been seen to be added even at 18300. Whereas 4.34 lakh contracts are linked on 18500.
The maximum put unwinding was seen at the strike of 17500. This was followed by the highest put unwinding at the strike of 17600 and then 17700.
Stocks with High Delivery Percentage
These include the names of HDFC, MFSL, Dr Reddy’s, ICICIGI, Titan and Power Grid. A high delivery percentage indicates that investors are showing interest in those stocks.
FII and DII figures
On October 19, FIIs sold Rs 505.79 crore in the Indian markets. On the other hand, domestic institutional investors sold Rs 2,578.22 crore on this day.
Stocks coming under F&O ban on NSE
On October 20, 9 stocks are under F&O ban on NSE. These include Amara Raja Batteries, BHEL, Escorts, Vodafone Idea, IRCTC, NALCO, Punjab National Bank, SAIL, and Sun TV Network. 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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