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

Bears took control of D-Street on Tuesday pushing benchmark indices below crucial support levels. The Nifty50 failed to close above 18000 levels.

Sectorally, buying was seen in auto, consumer discretionary, capital goods, and IT while selling was seen in energy, oil & gas, and banking stocks.

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The daily chart shows that the index couldn’t sustain above the key daily moving averages & has fallen back into the band of 20 DMA & 40 DEMA. Crucial support is placed at 17900-17800 while resistance is seen at 18000-18200 levels.

“On the downside, the Nifty can test the near-term support zone of 17900 – 17800, where it is expected to attract fresh buying support,” Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas, said.

“Thus, buy on dips near 17900-17800 will be the strategy for the short-term traders with reversal below 17600. On the higher side, 18200-18225 will continue to be the key area to watch out for,” he said.

India VIX fell by 1.71 per cent from 15.46 to 15.20 levels. Volatility hovers near 15 zones but needs to further cool down and sustain at lower levels for a smooth market ride.

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 0.6 per cent lower at 17,999. Key Pivot points (Fibonacci) support for the index is placed at 17963, 17922, and 17856 while resistance is placed at 18096, 18137, and 18204.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 1.02 per cent lower at 38,307. Key Pivot points (Fibonacci) support for the index is placed at 38218, 38096, 37900 while resistance is placed at 38610, 38731, and 38927.

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 options front, the maximum Call OI is seen at 18500 then 19000 strike while Maximum Put OI is at 17500 then 18000 strike.

“Call writing is seen at 18000 then 18200 strikes while Put writing is seen at 17400 then 17500 strikes. Option data suggests a trading range in between 17850 to 18150 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

16 Stock seeing new Long Positions:

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

12 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.

13 stock witnessing short covering:

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

FII & DII Data: 

Foreign portfolio investors (FPIs) remained net sellers for Rs 560 crore in the cash segment of the Indian equity markets, while Domestic Institutional Investors (DIIs) were net buyers to the tune of Rs 577 crore, provisional data showed on the NSE.

Bulk Deals:

Tanla Platforms: Banyan Investments Limited sold 20,58,943 equity shares in the company at the weighted average price Rs 1200.04 per share on the NSE, the bulk deals data showed.

Walchandnagar: Vistra ITCL India Limited sold 2,75,000 equity shares in the company at the weighted average price Rs 47.41 per share on the NSE, the bulk deals data showed.

Sonata Software: Hemendra Mathradas Kothari sold 5,38,290 equity shares in the company at the weighted average price Rs 866.65 per share on the NSE, the bulk deals data showed.

Poonawalla Fincorp Ltd: Rising Sun Holdings Pvt Ltd bought 124,00,000 equity shares in the company at the weighted average price Rs 201.50 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE   

Seven stocks: Punjab National Bank, Sun TV, BHEL, Indiabulls Housing Finance, SAIL, IRCTC and National Aluminium have been placed under the F&O ban on Monday. 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.)