Traders Watchlist: Top 12 data points to know before market opening bell on December 8

The Indian market snapped two day losing streak and witnessed a strong pullback to end in the green on Tuesday. Sensex jumped over 850 points and Nifty50 closed above 17150-level.

Sectorally, massive buying was witnessed in all indices such as bank, financials, metal, auto, IT, FMCG, media, and realty.

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Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said, “In the case of the Nifty, the bulls made a comeback after getting beaten down in the previous two sessions. As a result, the Nifty witnessed a steep bounce today post a sharp decline in the last couple of sessions.”

“Structurally, the swings in both the directions over the last few sessions are part of a base formation process. In terms of the price pattern, the index has a potential to form a base triangle, Ratnaparkhi added in post market comment on Tuesday.

“This means that the sideways action can continue further before the index prepares for a larger up move. On the higher side, 17500 will continue to act as a key barrier whereas 17000-16900 will be the lower end of the potential base triangle,” the market analyst further 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 1.56 per cent higher at 16,912. Key Pivot points (Fibonacci) support for the index is placed at 17037, 16975, 16874, and while resistance is placed at 17239, 17301, and 17402.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 2.47 per cent higher at 35,735. Key Pivot points (Fibonacci) support for the index is placed at 36176, 35985, 35677 while resistance is placed at 36792, 36982, and 37291.

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 17500 strike while Maximum Put OI is at 17000 then 16000 strike. Call writing is seen at 17300 then 17500 strike while Put writing is seen at 17200 then 17000 strike.

“Option data suggests a wider trading range in between 16750 to 17500 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

72 Stock seeing new Long Positions, below are top 20:

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

01 stock witnessing Long Cover:

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

18 stocks witnessing short positions:

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

97 stock witnessing short covering, below are top 20:

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 2584.97 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 2605.81 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

LG Balakrishnan& Bros: Rajvirdhan V sold 265,000 equity shares in the company at the weighted average price Rs 496.63 per share on the NSE, the bulk deals data showed.

Nandan Denim: CNM Finvest Private Limited sold 500,000 equity shares in the company at the weighted average price Rs 110.57 per share on the NSE, the bulk deals data showed.

Chartered Logistics: Manharlal Chimanla Parikh HUF Mahimtura sold 655,000 equity shares in the company at the weighted average price Rs 10.01 per share on the NSE, the bulk deals data showed.

Cressanda Solutions: Tango Commosales LLP sold 1,600,449 equity shares in the company at the weighted average price Rs 4.93 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

One stock: Indiabulls Housing Finance 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.)