Relentless selling once again dragged benchmarks indices into the negative zone on March 19 as the risk appetite of investors remained weak.
Sensex dropped 581 points to settle at 28,288 while Nifty plunged 205 points to close at 8,263.
"There is no sign of reversal and we may see Nifty continue to fall towards 7,900 and then 7,500 levels. On the higher side, resistance is shifting lower to 8,600 and then 9,200 zone. Till the time Nifty doesn't close above 8,600 levels, bears will have an upper hand and bounces shall be used as shorting opportunity," said Siddhartha Khemka, Head - Retail Research,
Motilal Oswal Financial Services.
We have collated 14 data points to help you spot profitable trades:
Note: The OI and volume data of stocks given in this story are the aggregates of the three-months data and not of the current month only.
Key support and resistance level for Nifty
According to the pivot charts, the key support level for Nifty is placed at 7,872.18, followed by 7,480.92. If the index moves up, key resistance levels to watch out for are 8,615.08 and 8,966.72.
Nifty Bank closed 2.41 percent down at 20,083.50. The important pivot level, which will act as crucial support for the index, is placed at 18827.76, followed by 17572.03. On the upside, key resistance levels are placed at 21187.16 and 22290.83.
Call options data
Maximum call open interest (OI) of 10.41 lakh contracts was seen at the 8,500 strike price. It will act as a crucial resistance level in the March series.
This is followed by 8,000 strike price, which holds 5.45 lakh contracts in open interest, and 8,800, which has accumulated 2.2 lakh contracts in open interest.
Significant call writing was seen at the 8,500 strike price, which added 4.7 lakh contracts, followed by an 8,000 strike price that added 3.7 lakh contracts.
No call unwinding was witnessed on March 19.
Put options data
Maximum put open interest of 16.41 lakh contracts was seen at 8,500 strike price, which will act as crucial support in the March series.
This is followed by 8,100 strike price, which holds 15.04 lakh contracts in open interest, and 8,000 strike price, which has accumulated 10.17 lakh contracts in open interest.
Put writing was seen at the 8,000 strike price, which added 4 lakh contracts, followed by a 7,800 strike which added 2.9 lakh contracts.
Put unwinding was seen at 8,500 strike price, which shed 3.82 lakh contracts, followed by 8,100 strike price which shed 3.42 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
8 stocks saw long build-up
77 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
41 stocks saw short build-up
An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions. Based on open interest (OI) future percentage, here are the top 10 stocks in which short build-up was seen.
18 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering.
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The board will meet on March 20 to consider and approve a proposal for issue and allotment of equity shares by way of a preferential allotment and a corresponding reduction of an equivalent number of shares held by Escorts Benefit
and Welfare Trust.
Aditri Industries: The board will meet on March 20 for general purposes.
Envair Electrodyne: The board will meet on March 20 for general purposes.
L&T Finance Holdings: The board will meet on March 20 to consider and approve the interim dividend.
Prima Plastics: The board will meet on March 20 to consider and approve the interim dividend.
Stocks in news
Aviation stocks: SpiceJet, IndiGo may see some action as the government may be looking at providing relief measures on taxes - CNBC-TV18.
Lakshmi Vilas Bank: Sanjay Khemani resigned as Independent Director.
Balrampur Chini: Company has made timely payment with respect to commercial paper(s), redemption value Rs 200 cr.
RITES: The company decided to close JV agreement with BNV Gujarat Rail, subject to further approval if any.
Alankit: Company proposed to acquire 14 lakh equity shares of Alankit Imaginations for Rs 47.30 per share.
CreditAccess Grameen: Company completed the acquisition of 75.64 percent of the equity share capital of Madura Micro Finance.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 4,622.93 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 4,367.43 crore in the Indian equity market on March 19, provisional data available on the NSE showed.