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

Indian market closed in the red snapping a two-day gaining streak on Wednesday. The S&P BSE Sensex fell over 550 points while the Nifty50 failed to hold on to 17650 levels.

Sectorally, all Nifty indices witnessed selling pressure with metals, pharma, information, and technology declining most during today’s trading session.

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“The Nifty opened gap up on Wednesday and attempted to extend beyond 78.6 per cent retracement of the last week’s decline i.e. 17840. However, the index couldn’t sustain in the higher territory. It faced pressure on the higher side as it was nearing the upper end of the short term range i.e. 17950, Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said in a note.

Ratnaparkhi added, “Thereon the bears initiated a fresh round of selling resulting in a sharp decline in the second half of the session. Consequently, the Nifty formed a bearish outside bar along with an Engulfing bear candle on the daily chart.”

“Structurally, the index can take the form of a triangular pattern, which would also mean consolidation in the next few sessions. On the downside, the index is expected to test the support zone of 17500-17450. On the other hand, 17700-17750 will act as an immediate resistance zone,” he mentioned.

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 near 1 per cent lower at 17,646. Key Pivot points (Fibonacci) support for the index is placed at 17610, 17546, as well as 17443 while resistance is placed at 17818, 17882, and 17986.

Key support & resistance levels for Nifty Bank:

The NiftyBank closed 0.5 per cent lower at 37,521. Key Pivot points (Fibonacci) support for the index is placed at 37443, 37288, as well as 37038 while resistance is placed at 37943, 38098, and 38348.

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 data, Maximum Put OI is at 17000 followed by 17500 strike while maximum Call OI is at 18000 followed by 18500 strike. Minor call writing is seen 17800 then 17700 strike while Put writing is seen at 17800 then 17700 strike.

“Option data suggests a broader trading range in between 17200 to 18200 zones while an immediate trading range in between 17500 to 17900 zones.,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said

11 Stock seeing new Long Positions:

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

10 stock witnessing Long Cover:

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

24 stocks witnessing short positions:

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

10 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 802.81 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 998.69 cr, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Bharti Airtel Limited-RE: Blackrock India Equities Fund (Mauritius) Limited sold over 25.5 equity shares in the company at the weighted average price Rs 207.67 per share on the NSE, the bulk deals data showed.

Walchandnagar Ind. Ltd: Vistra ITCL India Limited sold 2 lakh equity shares in the company at the weighted average price Rs 56.79 per share on the NSE, the bulk deals data showed.

Mercator Limited: Chhattisgarh Investments Limited bought over 18 lakh equity shares in the company at the weighted average price Rs 1.72 per share on the NSE, the bulk deals data showed.

R.P.P. Infra Projects-RE: Rajasthan Global Securities also bought 1.1 lakh equity shares in the company at the weighted average price Rs 27.47 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE:

Five stocks – Canara Bank, Indiabulls Housing Finance, NALCO, PNB and SAIL - are 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.)