According to the pivot charts, the key support level for Nifty is placed at 11,484.3, followed by 11,382.3.
Benchmark indices ended the day near the day's high with Sensex above 39,000 and Nifty near 11,600. News that the European Union and the United Kingdom have agreed on a Brexit deal helped lift sentiment toward the end of the day's trade.
The Sensex was up 453.07 points at 39,052.06, while Nifty was up 122.40 points at 11,586.40.
Except IT, all other indices ended in the green led by auto, bank, FMCG, metal, infra and pharma. The BSE Smallcap index gained nearly 1 percent, while BSE Midcap index rose 1.7 percent.
Nifty formed a Bullish Candle followed by Doji implying that follow up buying was seen at lower levels. It has surpassed its falling supply trend line on daily scale and started to form higher highs- higher lows from past four sessions, said Siddharth Khemka, Head - Retail Research, Motilal Oswal Financial Services Private.
The Index could extend its momentum towards 11,650-11,700 zones with downside support at 11,500 and then at 11,420 levels, he added.
We have collated 14 data points to help you spot profitable trades:
Key support and resistance level for Nifty
According to the pivot charts, the key support level for Nifty is placed at 11,484.3, followed by 11,382.3. If the index starts moving up, key resistance levels to watch out for are 11,643.7 and 11,701.1.
Nifty Bank closed with gain of 450.65 percent at 28,989.45. The important pivot level, which will act as crucial support for the index, is placed at 28,635.17, followed by 28,280.93. On the upside, key resistance levels are placed at 29,196.37 and 29,403.33.
Call options data
Maximum call open interest (OI) of 22.56 lakh contracts was seen at 12,000 strike price. It will act as a crucial resistance level in the October series.
This is followed by 11,500 strike price, which holds 19.20 lakh contracts in open interest; and 11,700, which has accumulated 18.66 lakh contracts in open interest.
Minor call writing was seen at the 11,600 strike price, which added 2.59 lakh contracts, followed by 11,800 strike that added 1.13 lakh contracts.
Call unwinding was seen at the 11,500 strike price, which shed 1.67 lakh contracts, followed by 11,400 strike which shed 97,200 contracts and 11,700 which shed 80,850 contracts.
Put options data
Maximum put OI of 22.44 lakh contracts was seen at 11,400 strike price, which will act as crucial support in October series.
This is followed by 11,300 strike price, which holds 18.34 lakh contracts in open interest; and 11,200 strike price, which has accumulated 17.27 lakh contracts in OI.
Put writing was seen at the 11,400 strike price, which added 4.96 lakh contracts, followed by 11,500 strike price, which added 4.58 lakh contracts and 11,600 which added 2.85 lakh contracts.
No major Put unwinding was seen.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
53 stocks saw long buildup
69 stocks witnessed short-covering
As per available data, 50 stocks witnessed short-covering. A decrease in open interest, along with an increase in price, mostly indicates a short covering. Based on the lowest open interest (OI) future percentage point, here are the top 10 stocks in which short-covering was seen.
18 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.
12 stocks saw long unwinding
Based on the lowest open interest (OI) future percentage point, here are the top 10 stocks in which long unwinding was seen.
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Upcoming analyst or board meetings/briefings
Bajaj Finance - board meeting on October 22 to consider revision in the $750 million approved for ECBs by way of loan and/or issuance of secured/unsecured notes, bonds, debenture, etc
Tata Steel - board meeting on October 24 to consider and approve the financial results for the period ended September 30, 2019
NIIT - board meeting on October 24 to consider and approve the financial results for the period ended September 30, 2019
Yes Bank - board meeting on November 1 to consider and approve the financial results for the period ended September 30, 2019
Stocks in news
Results on October 18: Reliance Industries, Ambuja Cements, ICICI Lombard, L&T Finance Holdings, L&T Technology Services, Visa Steel, Sasken Technologies
Automotive Stampings appoints Jitendraa Dikkshit as chief executive officer of the company w.e.f. October 17, 2019
NOCIL starts trial runs at its Dahej, Gujarat plant
Alicon Castalloy signs multi-year Contracts aggregating Rs 810 crore with leading Global OEMs
Cyient Q2: Consolidated net profit up 8.5% at Rs 97.5 crore versus Rs 89.9 crore, revenue up 6.4% at Rs 1,158.9 crore versus Rs 1,089 crore, QoQ
FII & DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,158.63 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 511.76 crore in the Indian equity market on October 17, as per provisional data available on the NSE.
No stock under ban period on NSE
For October 18, no stock is under F&O ban.In the F&O segment, companies in which the security has crossed 95 percent of the market-wide position limit are put under a ban for a certain period.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.