The Indian market on Monday continues its gaining streak to close in the green on Monday, as both the benchmark indices hit a new record level intraday today, while Sensex registered at record closing high and Nifty failed to hold the 18000-mark.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Sectorally, selling pressure was visible in information and technology indices while buying interest was seen in auto, banking, financial service, metal, media realty among other stocks.

See Zee Business Live TV Streaming Below:

“The Nifty opened on a negative note on October 11 however received support near the key hourly moving averages. Thereon the index had a leap on the upside and crossed the all-time high of 17947 as well as the psychological mark of 18000 on an intraday basis,” Gaurav Ratnaparkhi, Head of Technical Research, Sharekhan by BNP Paribas said in a note.

He added, “However the index couldn’t sustain there on a closing basis. So the index is currently trading near a make or break level. If it manages to cross the level of 18000 on a closing basis then the consolidation will be considered to have broken on the upside & the Nifty will then be set for a significant upside.”

“However, failure to cross 18000 on a closing basis would keep the index in the short-term consolidation phase. The key hourly moving averages, which are currently near 17900 – 17850 will continue to act as an immediate cushion on the downside, Ratnaparkhi 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 0.28 percent higher at 17,945. Key Pivot points (Fibonacci) support for the index is placed at 17864, 17816 as well as 17739 while resistance is placed at 18019, 18067, and 18145.

Key support & resistance levels for Nifty Bank:

The Nifty Bank closed 1.37 per cent higher at 38,293. Key Pivot points (Fibonacci) support for the index is placed at 37891.14, 37713, as well as 37427 while resistance is placed at 38464, 38641, and 38928.

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 18000 then 18500 strike while Put writing is seen at 18000 then 17800 strike.

“Option data suggests a broader trading range in between 17400 to 18200 zones while an immediate trading range in between 17700 to 18200 zones,” Chandan Taparia, Vice President | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.

At least 74 stocks from the A category hit a new 52-week high today, below are the top 15:

Stocks in focus: Companies that reported Q2 earnings post-market

Delta Corp: Net loss narrows to Rs 23 crore versus Rs 55 crore year-on-year basis

Tata Metaliks: Profit after tax at Rs 55 crore versus Rs 82 crore year-on-year basis

HFCL: Profit after tax at Rs 82 crore versus Rs 51 crore year-on-year basis

Krsnaa Diagnostics: Profit after tax at Rs 12.54 crore versus Rs 22.62 crore year-on-year basis

 

Q2 results scheduled on Tuesday

Rupee Watch

The rupee tumbled by 37 paise close at a 15-month low of 75.36 against the U.S. dollar on Monday as rising crude oil prices and a stronger American currency in the overseas market weighed on investor sentiment.

The Indian currency for the first time this year settled below the 75 level. The unit had closed at 74.99 on Friday.

At the interbank foreign exchange market, the local currency opened lower at 75.11 and witnessed an intra-day high of 75.06 and a low of 75.39 against the U.S. dollar in day trade.

FII Activity:

Foreign portfolio investors (FPIs) remained net sellers for Rs 1303.22 crore in the Indian markets while Domestic Institutional Investors (DIIs) were net sellers to the tune of Rs 373.28 crore, provisional data showed on the NSE.

FII Index and Stock F&O:

Bulk Deals:

Jaiprakash Power: Clearwater Capital Partners Singapore Fund IV Private LTD-FCCB sold 7,52,60,786 equity shares in the company at the weighted average price Rs 5.59 per share on the NSE, the bulk deals data showed.

Visesh Infotecnics: Globe Fincap Ltd sold 2,00,00,000 equity shares in the company at the weighted average price Rs 0.2 per share on the NSE, the bulk deals data showed.

Rollatainers Limited: Nishith Atulbhai Shah bought 20,00,000 equity shares in the company at the weighted average price Rs 2.74 per share on the NSE, the bulk deals data showed.

Walchandnagar India: Vistra ITCL India Limited sold 2,70,000 equity shares in the company at the weighted average price Rs 54.04 per share on the NSE, the bulk deals data showed.

Stocks under F&O ban on NSE

Nine stocks – Bank of Baroda, Canara Bank, BHEL, Indiabulls Housing Finance, IRCTC, NALCO, PNB, SAIL & Sun TV - 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.)