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

Indian market closed in the green for the second consecutive day in a row on Tuesday following a strong buying from domestic investors. The S&P BSE Sensex gained over 450 points while the Nifty50 ended above 17800 levels.

Sectorally, selling pressure was visible in metals, FMCG, Pharma, PSU Bank and realty indices while buying interest was seen in auto, IT, media, banking, and financial stocks.

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“The Nifty opened on a negative note on October 5; however, there was no follow through selling. The key hourly moving averages provided a cushion on the downside. The Nifty formed a base there in the first half of the session & took a leap thereon in the second half, Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said.

“On the way up, the index crossed 61.8 per cent retracement of the last week’s decline & reached near the 78.6% retracement mark i.e. 17840. So that is an immediate resistance to watch out for.”

“Overall structure shows that the Nifty is still in a short-term consolidation phase & is heading towards the upper end of the range i.e. 17950 where it is likely to witness selling pressure. On the downside, 17700-17640 will act as a near term support zone,” Ratnaparkhi 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 0.74 percent higher at 17,822. Key Pivot points (Fibonacci) support for the index is placed at 17692, 17646, as well as 17573 while resistance is placed at 17839, 17884, and 17958.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 0.43 per cent higher at 37,741. Key Pivot points (Fibonacci) support for the index is placed at 37058, 36885, as well as 36604 while resistance is placed at 37619, 37792, and 39073.

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 the Option front, Maximum Put OI is at 16500 followed by 16000 strike while maximum Call OI is at 16600 followed by 16500 strike. Call writing is seen at 16600 then 16700 strike while Put writing is seen at 16500 then 16200 strike.

“Option data suggests a broader trading range in between 16200 to 16700 zones while an immediate trading range in between 16300 to 16600 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

23 Stocks seeing new Long Positions:

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

03 stock witnessing Long Cover:

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

11 stocks witnessing short positions:

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

08 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 1915.08 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1868.23 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Bharti Airtel Limited – RE: Reliance Mutual Fund bought 20 lakh equity shares in the company at the weighted average price Rs 204.95 per share on the NSE, the bulk deals data showed.

Hinduja Global Solutions: Hinduja Realty Ventures bought 3 lakh equity shares in the company at the weighted average price Rs 2850 per share on the NSE, the bulk deals data showed.

Salasar Exterior & Contours: Thakurji International bought 45000 equity shares in the company at the weighted average price Rs 20 per share on the NSE, the bulk deals data showed.

California Soft: individual investor Rahul Agarwal bought 1.52 lakh equity shares in the company at the weighted average price Rs 29.52 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

One stock – National Aluminium 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.)