Benchmark indices fell by more than 2 percent each on October 15 after rallying for 10-days.
The Sensex ended more than 1,000 points to end at 39,728 and the Nifty closed nearly 300 points lower at 11,680.
"On the daily chart, the Nifty has formed a bearish outside bar along with an engulfing bear candle. The index seems to have stepped into a consolidation phase that can last for the next few sessions," said Gaurav Ratnaparkhi, Senior Technical Analyst, Sharekhan by BNP Paribas.
"On the downside, 11,500 is likely to act as a lower boundary for the consolidation, whereas on the higher side, the psychological mark of 12,000 will act as resistance," he added.
We have collated 14 data points to help you spot profitable trades:
Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three- month data and not of the current month only.
Key support and resistance levels on the NiftyThis is followed by 12,200, which holds 15.68 lakh contracts, and 11,800 strikes, which has accumulated 14.64 lakh contracts.
Call writing was seen at 12,000, which added 6.51 lakh contracts, followed by 11,800 strikes, which added 3.63 lakh contracts.
Call unwinding was seen at 11,300, which shed 24,525 contracts, followed by 11,200 strikes, which shed 7,500 contracts.
This is followed by 11,300, which holds 18.27 lakh contracts, and 11,600 strikes, which has accumulated 17.15 lakh contracts.
Put writing was seen at 11,400, which added 3.07 lakh contracts, followed by 11,300 strikes, which added 2.65 lakh contracts.
Put unwinding was witnessed at 11,700, which shed 4.09 lakh contracts, followed by 11,500 strikes, which shed 1.57 lakh contracts.
Results on October 16: HCL Technologies, Bajaj Consumer Care, Federal Bank, Tata Communications, Tinplate Company, and Phillips Carbon Black.
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Fund flow