Traders Watchlist: Top 12 data points to know before stock market opening bell on Wednesday

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The Indian market ended in the green after opening negative on Tuesday, with Sensex and Nifty50 each gaining around half a per cent at the close, led by metal and pharma stocks.  

Sectorally, all indices were in the green with metal, pharma, media, PSU banks leading the surge in the market, while FMCG, financial services, auto and banking indices also closed higher.

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd said, “Buying in late trades helped the market to recover from the intraday volatile sessions. Nifty found support near 17200 and reversed sharply.”

“The short-term formation is still on the weaker side, but due to the extremely oversold situation, the market registered a technical bounce back. It has also formed a bullish candle, indicating further upside from current level,” the analyst said.

“For day traders, 17400 would be the key level to watch out for. Above the same, a pullback rally can continue up to 17600-17650 levels. On the flip side, below 17400, there is a strong possibility of one more leg of correction till 17330-17280,” Chouhan added.

Here is a list of 12 data points that will help you in making a profitable trade

Key support & resistance levels for Nifty50:

The Nifty50 closed 0.5 percent higher at 17,503. Key Pivot points (Fibonacci) support for the index is placed at 17295, 17215, 17086, and while resistance is placed at 17553, 17633, and 17761.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 0.39 per cent lower at 37,272. Key Pivot points (Fibonacci) support for the index is placed at 36817, 36627, 36321 while resistance is placed at 37429, 37618, and 37924.

Gross Open Interest:

Open Interest means the number of contracts open or outstanding in futures trading in NSE at any one time. One seller and one buyer together create one contract.

Here the gross values of Open Interest Positions taken by the four participants namely Client are Clients are the retail individual investors who invest in the derivatives instruments, DIIs are domestic individual investors, FIIs are foreign institutional investors and Pro are the proprietors and brokerage firms who trade on their own behalf.

Options Data:

On Option front, Maximum Call OI is at 18000 then 17800 strike while Maximum Put OI is at 17000 then 17300 strike. Call writing is seen at 17500 then 17700 strike while Put writing is seen at 17500 then 17200 strike.

“Option data suggests a shift in lower trading range in between 17200 to 17700 zones.,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

As many as 79 stocks seeing new Long Positions, below are the top 20:

If price increases and open interest increases, then participants are having more of long positions.

07 stock witnessing Long Cover:

If the price decreases and open interest decreases, then participants are long covering their contracts.

24 stocks witnessing short positions:

If price decreases and open interest increases, then participants are having more of short positions.

20 stock witnessing short covering:

If the price increases and open interest decreases, then Participants are short covering their contracts.

FII Activity:

Foreign portfolio investors (FPIs) remained net sellers for Rs 4477.06 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1412.05 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Vedanta Limited: Twin Star Holdings Limited bought 8,78,72,748 equity shares in the company at the weighted average price Rs 23.55 per share on the NSE, the bulk deals data showed.

ASL Industries: ASL Enterprises Limited sold 3,88,000 equity shares in the company at the weighted average price Rs 23.52 per share on the NSE, the bulk deals data showed.

Bal Pharma Limited: Kumat Vipul sold 1,26,296 equity shares in the company at the weighted average price Rs 92.57 per share on the NSE, the bulk deals data showed.

Silgo Retail Ltd: Anuradha Suri bought almost 55000 equity shares in the company at the weighted average price Rs 45.25 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Two stocks: Escorts, Idea have been placed under the F&O ban on Tuesday. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.

(Disclaimer: The views/suggestions/advices expressed here in this article is solely by investment experts. Zee Business suggests its readers to consult with their investment advisers before making any financial decision.)