Traders Watchlist for Friday: Top 12 data points to know before the share market opening bell

Indian market closed in the red for the third consecutive day in a row on Thursday following weak global cues. The S&P BSE Sensex fell near 300 points while the Nifty50 fell below 17650 levels.

Sectorally, selling pressure was visible in bank, FMCG, Auto, financial, IT, Metal and media indices while buying interest was seen in pharma, PSU bank and realty stocks.

See Zee Business Live TV Streaming Below:

“The Nifty has recently entered consolidation mode from the daily upper Bollinger Band. On the way down, it has breached lower end of a rising channel on the daily chart. The daily momentum indicator is in line with the bearish price structure,” Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas.

“This shows that the bears are having upper hand. The hourly chart shows that a minor degree bounce got over near the key hourly moving averages from where the bears kicked off the next leg down. The index is about to break the swing low of 17576, below which it is expected to test 17400 on the downside,” Ratnaparkhi said.

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 0.53 percent lower at 17,618. Key Pivot points (Fibonacci) support for the index is placed at 17588, 17551, as well as 17491 while resistance is placed at 17708, 17745, and 17805.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 0.84 per cent lower at 37,425. Key Pivot points (Fibonacci) support for the index is placed at 37352, 37226, as well as 37024 while resistance is placed at                37757, 37882, and 38085.

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:

“Since it is the beginning of the new series and Option data is scattered at various far strikes. Maximum Put OI is at 17000 followed by 17500 strike while maximum Call OI is at 18000 followed by 18500 strike. Option data suggests a broader trading range in between 17000 to 18200 zones while an immediate trading range in between 17350 to 17850 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

15 Stock seeing new Long Positions:

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

13 stock witnessing Long Cover:

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

20 stocks witnessing short positions:

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

15 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 2225.6 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 97.18 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Just Dial: Nalanda India Equity Fund Limited 5.17 lakh equity shares in the company at the weighted average price Rs 991.44 per share on the NSE, the bulk deals data showed.

Kesoram Industries: State Bank of India sold 7.35 lakh equity shares in the company at the weighted average price Rs 8.58 per share on the NSE, the bulk deals data showed.

Banswara Syntex Limited: Kotak Mahindra (International) Limited sold 6.8 lakh equity shares in the company at the weighted average price Rs 153.2 per share on the NSE, the bulk deals data showed.

McLeod Russel: Investor Niraj Shah off loaded 12.5 lakh equity shares in the company at the weighted average price Rs 34.86 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

No stock was placed under the F&O ban. 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.)