Benchmark indices ended in the green on April 16 with the Sensex closing 223 points higher at 30,602.61 and Nifty finishing 68 points up at 8,992.80.
Mid-caps and small-caps outperformed the benchmarks as their sectoral indices on BSE closed 1.42 percent and 1.71 percent higher.
Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services said the market would continue to remain volatile as it would track the trend in coronavirus cases and government relief measures to combat the economic crisis due to it.
Earnings season has kicked started, and thus investors would be focusing on the management commentary with regards to the impact of COVID-19 on their respective businesses, he said.
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 8,858.55, followed by 8,724.3. If the index continues moving up, key resistance levels to watch out for are 9,090.4 and 9,188.
Nifty Bank closed 1.80 percent up at 19,400. The important pivot level, which will act as crucial support for the index, is placed at 18895.5, followed by 18,391. On the upside, key resistance levels are placed at 19,712.4 and 20,024.8.
Call options data
Maximum call open interest (OI) of 15.43 lakh contracts was seen at the 9,000 strike price. It will act as a crucial resistance level in the April series.
This is followed by 9,500 strike price, which holds 12.23 lakh contracts in open interest, and 8,500, which has accumulated 6.95 lakh contracts in open interest.
Call writing was seen at the 9,300 strike price, which added 33,450 contracts, followed by 9,200 strike price that added 32,475 contracts.
A minor call unwinding was witnessed at 9,500 strike price, which shed 3,225 contracts.
Put options data
Maximum put open interest of 19.04 lakh contracts was seen at 8,500 strike price, which will act as crucial support in the April series.
This is followed by 9,000 strike price, which holds 18.64 lakh contracts in open interest, and 9,500 strike price, which has accumulated 8.24 lakh contracts in open interest.
Put writing was seen at the 8,500 strike price, which added 77,025 contracts, followed by 8,900 strike, which added 51,675 contracts.
Put unwinding was seen at 9,000 strike price, which shed 66,900 contracts, followed by 9,500 strike price which shed 63,600 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
94 stocks saw long build-up
Based on open interest (OI) future percentage, here are the top 10 stocks in which long build-up was seen.
5 stocks saw long unwinding
22 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.
25 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on open interest (OI) future percentage, here are the top 10 stocks in which short-covering was seen.
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The respective boards of Apollo Tyres, RT Exports, Transwarranty Finance and Veeram Securities will meet on April 17 for general purposes.
Stocks in the news
TCS: Reported a consolidated profit at Rs 8,049 crore, registering a 0.85 percent decline compared to the previous quarter.
Sudarshan Chemical Industries: Company received permissions to restart production at the manufacturing facility in Mahad.
Deepak Fertilisers: ICRA reaffirmed rating on the term loan and cash credit at A+ with a stable outlook.
M&M: Subsidiary Mahindra Renewables sold 1,20,80,000 equity shares in Divine Solren to CLP India for Rs 124.47 crore.
JK Lakshmi Cement: Grinding units at Kalol and Surat in Gujarat are partially operational.
Oberoi Realty: Company through subsidiary Incline Realty prepaid NCDs of Rs 125 crore and its interest payment.
Grindwell Norton: Few of the company's plants are partially operational.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 2,920.36 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 1,321.44 crore in the Indian equity market on April 16, provisional data available on the NSE showed.