The Indian markets extended gain for the third straight session, as the Sensex closed around 400 points higher, and Nifty50 reclaimed a key sentimental level of 17000 on Thursday.

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Sectorally, buying was visible in almost all indices such as Bank, FMCG, Financial, Auto and Realty stocks, while selling was witnessed in Media and Metal indices.

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Prashanth Tapse, Vice President (Research), Mehta Equities Ltd said, “Nifty zooms higher as ‘Christmas Rally’ gains conviction while short sellers too are seen getting squeezed.”

A better market mood prevailed at Dalal Street due to a number of positive catalysts like a solid reading on US consumer confidence, reports from the US suggesting that the rapid increase of Omicron infections is only with relatively mild symptoms and lower hospitalization rates, and optimism over US stimulus, the market analyst said.

Technically, all aggressive bullish eyes will be on Nifty’s biggest inter-week hurdles at the 17169-17389 zone, Tapse said in his post-market comment.

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 0.69 per cent higher at 17,072. Key Pivot points (Fibonacci) support for the index is placed at 17029, 17005, 16965, and while resistance is placed at 17108, 17132, and 17172.

Key support & resistance levels for Nifty Bank: 

The NiftyBank closed 0.46 per cent higher at 35,191. Key Pivot points (Fibonacci) support for the index is placed at 35073, 34971, 34807 while resistance is placed at 35402, 35504, and 35669.

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 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 17000 strike while Maximum Put OI is at 16500 then 16000 strike. Call writing is seen at 18000 then 17500 strike while Put writing is seen at 17000 then 17100 strike.

“Option data suggests a wider trading range in between 16700 to 17300 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said. 

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

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

18 stock witnessing Long Cover: 

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

22 stocks witnessing short positions: 

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

71 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 271.59 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 1196.48 crore, provisional data showed on the NSE. 

FII Index and Stock F&O: 

Bulk Deals: 

Bright Solar Limited: Shethia Narendrakumar Velji (Huf) bought 1,80,000 equity shares in the company at the weighted average price Rs 5.99 per share on the NSE, the bulk deals data showed. 

Keerti Know & Skill Ltd: Navin Murli Maheshwari bought 53,035 equity shares in the company at the weighted average price Rs 18.85 per share on the NSE, the bulk deals data showed. 

Ansal Housing and Construction: Algoquant Financials LLP bought 4,75,000 equity shares in the company at the weighted average price Rs 10.28 per share on the NSE, the bulk deals data showed. 

Ackruti City Limited: Ashika Credit Capital Limited sold 4,58,403 equity shares in the company at the weighted average price Rs 55.8 per share on the NSE, the bulk deals data showed. 

Stocks under F&O ban on NSE 

Four stocks: Indiabulls Housing, Escorts, Idea and ZEEL are placed under the F&O ban on Friday. 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.)