The market closed the volatile session with moderate gains, continuing uptrend for the fourth consecutive session on April 29, the expiry day for April futures and options contracts, after the Federal Reserve kept the rates at zero levels and continued with the bond-buying plan. However, the rising COVID-19 cases limited the upside.
The BSE Sensex rose 32.10 points to 49,765.94, while the Nifty50 failed to hold on to the 15,000 mark, climbing 30.40 points to close at 14,894.90 and formed a bearish candle on the daily charts.
"Small body of negative candle was formed with upper and lower shadow. Technically, this pattern indicates the formation of a high wave-type candle pattern which signals volatility in the market and confused state of mind among participants near the resistance. Such high wave-type formations after a reasonable rise or near the hurdles
sometimes signal profit booking/downward correction from the higher levels," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
"The overall chart pattern of Nifty remains strong on the upside and we expect any decline from the hurdle could be a buying opportunity. The crucial overhead resistance of 14,900-15,000 levels (previous swing highs and resistance as per change in polarity) could eventually be broken decisively on the upside after the consolidation or repeated attempt," he said.
We have collated 15 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 Nifty
According to pivot charts, the key support levels for the Nifty are placed at 14,791.5, followed by 14,688.1. If the index moves up, the key resistance levels to watch out for are 15,021.3 and 15,147.7.
The Nifty Bank index fell 8.30 points to close at 33,714.50 on April 29. The important pivot level, which will act as crucial support for the index, is placed at 33,250.4, followed by 32,786.3. On the upside, key resistance levels are placed at 34,232.8 and 34,751.1 levels.
Call option data
Maximum Call open interest of 55.65 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the May series.
This is followed by 14,900 strike, which holds 35.99 lakh contracts, and 15,100 strike, which has accumulated 32.59 lakh contracts.
Call writing was seen at 14,900 strike, which added 9.13 lakh contracts, followed by 15,400 strike which added 4.75 lakh contracts and 15,600 strike which added 14,625 contracts.
Call unwinding was seen at 14,800 strike, which shed 8.76 lakh contracts, followed by 14,700 strike which shed 7.55 lakh contracts and 15,000 strike which shed 6.05 lakh contracts.
Put option data
Maximum Put open interest of 53.85 lakh contracts was seen at 14,500 strike, which will act as a crucial support level in the May series.
This is followed by 14,800 strike, which holds 27.26 lakh contracts, and 14,600 strike, which has accumulated 26.24 lakh contracts.
Put writing was seen at 14,900 strike, which added 11.81 lakh contracts, followed by 14,800 strike which added 1.25 lakh contracts and 15,200 strike which added 49,575 contracts.
Put unwinding was seen at 14,400 strike which shed 15.19 lakh contracts, followed by 14,300 strike, which shed 14.09 lakh contracts, and 14,700 strike which shed 12.94 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
58 stocks saw long build-up
An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the top 10 stocks in which a long build-up was seen.
Six stocks saw long unwinding
A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the 6 stocks in which long unwinding was seen.
90 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 the open interest future percentage, here are the top 10 stocks in which a short build-up was seen.
Five stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on the open interest future percentage, here are the 5 stocks in which short-covering was seen.
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Results on April 30
Reliance Industries, IndusInd Bank, Marico, Yes Bank, Indian Hotels, Can Fin Homes, RPG Life Sciences, Accelya Solutions India, Ajanta Pharma, Alicon Castalloy, Astec Lifesciences, Atul, B2B Software Technologies, Betala Global Securities, Dugar Housing Developments, Indian Acrylics, Mahindra EPC Irrigation, Maral Overseas, Magellanic Cloud, MRC Exim, Progrex Ventures, Raghav Productivity Enhancers, Sacheta Metals, Shriram City Union Finance, SSPN Finance, Supreme Petrochem, Teesta Agro Industries, Trent, Walchand Peoplefirst will release quarterly earnings on April 30.
Stocks in News
Titan Company: The company reported sharply higher standalone profit at Rs 529 crore in Q4FY21 against Rs 357 crore in Q4FY20, revenue spiked to Rs 7,135 crore from Rs 4,429 crore YoY.
Persistent Systems: The company reported higher profit at Rs 137.7 crore in Q4FY21 against Rs 120.9 crore in Q3FY21, revenue rose to Rs 1,113.3 crore from Rs 1,075.4 crore QoQ.
Ambuja Cements: The company reported sharply higher standalone profit at Rs 664.6 crore in Q4FY21 against Rs 399 crore in Q4FY20, revenue jumped to Rs 3,621.4 crore from Rs 2,827,5 crore YoY.
AU Small Finance Bank: The bank reported a higher profit at Rs 168.97 crore in Q4FY21 against Rs 122.32 crore in Q4FY20, net interest income rose to Rs 655.83 crore from Rs 554.94 crore YoY.
Motilal Oswal Financial Services: The company reported consolidated profit at Rs 461.38 crore in Q4FY21 against a loss of Rs 237.04 crore in Q4FY20; revenue jumped to Rs 1,140.95 crore from Rs 611.21 crore YoY.
Equitas Small Finance Bank: The company reported a higher profit at Rs 112.87 crore in Q4FY21 against Rs 43.01 crore in Q4FY20, net interest income rose to Rs 448.57 crore from Rs 424 crore YoY.Fund flow
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 809.37 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 942.35 crore in the Indian equity market on April 29, as per provisional data available on the NSE.