Trade setup : Profit booking was seen a day after the sharp rise in the market. Nifty fell by 32 points on September 13. However, this week it recovered all its losses of the previous week and closed at a new weekly closing level of 25357 with a gain of 2 percent. Market experts believe that the market trend will remain bullish. If Nifty manages to close strongly above 25400, then it can see the level of 25800. Until this happens, consolidation can be seen with immediate support at 25200. After that the next big support will be at the level of 25000.
Here we are giving you some such figures on the basis of which it will be easy for you to catch profitable deals.
Key support and resistance levels for Nifty
Support based on Pivot Points: 25,307, 25,274 and 25,222
Resistance based on Pivot Points: 25,413, 25,445 and 25,498
Bank Nifty
Resistance based on Pivot Points: 51,993, 52,075 and 52,209
Support based on Pivot Points: 51,725, 51,642 and 51,509
Resistance based on Fibonacci retracement: 52,563, 53,360
Support based on Fibonacci retracement: 50,579, 49,717
Nifty Call Option Data
On weekly basis, maximum call open interest of 66.07 lakh contracts was witnessed at 26,000 strike, which will act as an important resistance level in the upcoming trading sessions.
Nifty Put Option Data
Maximum Put open interest of 52.2 lakh contracts was witnessed at 25,000 strike, which will act as an important support level in the coming trading sessions.
Bank Nifty Call Option Data
Bank Nifty witnessed maximum call open interest of 22.86 lakh contracts at 52,000 strike on monthly basis, which will act as an important resistance level in the upcoming trading sessions.
Bank Nifty Put Option Data
On monthly basis, maximum Put open interest of 20.61 lakh contracts was witnessed at 51,000 strike, which will act as an important resistance level in the upcoming trading sessions.
FII and DII fund flows
The volatility further declined on the previous trading day and fell below the 13 level. It remained below all the major moving averages, giving relief to the bulls. The fear index India VIX fell 4.8 percent to 12.55 from Friday’s level of 13.18. On a weekly basis, it closed 17.53 percent down.
High Delivery Trade
Here are the stocks that saw the largest share of delivery trades. A large share of deliveries indicates investor (as opposed to trading) interest in a stock.
Stock Market Live Updates: Gift Nifty is giving indication, Indian market may start strong
Long build-up seen in 59 stocks
An increase in open interest as well as a rise in prices usually leads to the creation of long positions. On the basis of open interest future percentage, 59 stocks saw a long build-up on the last trading day.
Long unwinding seen in 31 stocks
Long unwinding is usually predicted by a fall in open interest as well as a fall in prices. On the basis of open interest future percentage, 31 stocks witnessed the highest long unwinding on the last trading day.
Short build-up seen in 48 stocks
An increase in open interest as well as a fall in prices usually indicates a short build-up. Based on the open interest future percentage, 48 stocks witnessed the highest short build-up on the last trading day.
Short covering seen in 46 stocks
A fall in open interest as well as a rise in prices usually leads to short covering. Based on the open interest future percentage, 46 stocks witnessed the highest short covering on the last trading day.
Put Call Ratio
The Nifty put-call ratio, which reflects the market mood, fell to 1.33 on September 13, while in the previous session it was at 1.44. It is worth noting that PCR going above 0.7 or crossing 1 is generally considered a sign of bullish sentiment. Whereas the ratio falling below 0.7 or towards 0.5 is a sign of bearish sentiment.
Stocks under F&O ban
Restricted securities under the F&O segment include companies whose derivative contracts exceed 95 per cent of the market wide position limit.
Stocks newly included in the F&O ban: Zero
Stocks already included in the F&O ban: Aarti Industries, Balrampur Sugar Mills, Bandhan Bank, Chambal Fertilizers & Chemicals, Granules India, Hindustan Copper, RBL Bank
Stocks removed from F&O ban: Aditya Birla Fashion & Retail
Disclaimer: The views expressed on Moneycontrol.com are the personal views of the experts. The website or management is not responsible for it. Moneycontrol advises users to seek advice from certified experts before taking any investment decision.