The market fell sharply in the afternoon after volatile trade seen in the morning, and finally settled with a loss of half a percent on September 30, a day of expiry of September futures and options contracts, dragged by Banking and Financials, IT, Metals and select Auto stocks.
The BSE Sensex declined 286.91 points to 59,126.36, while the Nifty50 fell 93.10 points to 17,618.20 and formed a bearish candle on the daily charts as the closing was lower than opening levels.
"Investors booked profit on the expiry day due to a lack of fresh triggers and tepid global cues. Benchmark Nifty is hovering within the range of 17,600-17,780 and on intraday charts, it has formed a lower top formation which is largely negative," said Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities.
However, the medium-term structure is still positive, he feels. "The intraday trading setup suggests 17,700 could act as a strong resistance level, and below the same, the correction could continue up to 17,500-17,450 levels," he said.
On the flip side, beyond 17,700 the immediate hurdle would be the 17,750 level, and on the contrary, any revival could lift the index up to 17,800, he added.
The outperformance by Nifty Midcap 100 and Smallcap 100 indices continued, rising 0.36 percent and 0.75 percent respectively.
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 17,554.93, followed by 17,491.67. If the index moves up, the key resistance levels to watch out for are 17,711.83 and 17,805.46.
The Nifty Bank extended losses, falling 317.90 points to 37,425.10 on September 30. The important pivot level, which will act as crucial support for the index, is placed at 37,224.56, followed by 37,024.03. On the upside, key resistance levels are placed at 37,755.26 and 38,085.43 levels.
Call option data
Maximum Call open interest of 55.05 lakh contracts was seen at 18000 strike, which will act as a crucial resistance level in the October series.
This is followed by 17700 strike, which holds 53 lakh contracts, and 17900 strike, which has accumulated 35.85 lakh contracts.
Call writing was seen at 17700 strike, which added 13 lakh contracts, followed by 17600 strike, which added 4.93 lakh contracts.
Call unwinding was seen at 18000 strike, which shed 39.77 lakh contracts, followed by 17900 strike, which shed 32.81 lakh contracts, and 17800 strike which shed 26.48 lakh contracts.
Put option data
Maximum Put open interest of 43.85 lakh contracts was seen at 17000 strike, which will act as a crucial support level in the October series.
This is followed by 17600 strike, which holds 42.79 lakh contracts, and 17500 strike, which has accumulated 30.69 lakh contracts.
There was hardly any Put writing seen on expiry day.
Put unwinding was seen at 17700 strike, which shed 19.53 lakh contracts, followed by 17000 strike which shed 15.53 lakh contracts, and 17800 strike which shed 14.29 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
7 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 7 stocks in which a long build-up was seen.
115 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 top 10 stocks in which long unwinding was seen.
10 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 10 stocks in which a short build-up was seen.
43 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 top 10 stocks in which short-covering was seen.
Just Dial: Nalanda India Equity Fund sold additional 5,17,765 shares in the company at Rs 991.44 per share on the NSE, the bulk deals data showed.
Kesoram Industries (Rights Entitlement): Tusk Investment acquired 7.05 lakh shares in the company at Rs 8.42 per share, whereas State Bank of India sold 7,35,113 equity shares in the company at Rs 8.58 per share, and South Indian Bank sold 4 lakh shares at Rs 8.64 per share and another 4 lakh shares at Rs 8.71 per share on the NSE, the bulk deals data showed.
Asian Granito India (Rights Entitlement): Sundaram Mutual Fund bought 1,68,128 shares in the company at Rs 37.75 per share on the NSE, the bulk deals data showed.
(For more bulk deals, click here)
Shriram City Union Finance: The company's officials will meet Prayaas Capital on October 1.
Advanced Enzyme Technologies: The company's officials will meet several analysts and funds at Motilal Oswal Biotech and Medtech Day on October 1.
Tata Motors: The company's officials will meet Morgan Stanley on October 1.
Gulshan Polyols: The company's officials will meet White Oak on October 5.
Info Edge India: The company's officials will meet investors and analysts in Goldman Sachs India Internet Conference 2021 on October 8.
Tata Consultancy Services: The company's officials will meet analysts and investors in earnings conference call on October 8.
Stocks in News
Paras Defence and Space Technologies: The company will list its equity shares on the bourses on October 1. The final issue price has been fixed at Rs 175 per share.
Phillips Carbon Black: The company launched its Qualified Institutional Placement issue on September 30, and approved the floor price at Rs 255.85 per share.
Adani Green Energy: Subsidiary Adani Renewable Energy (MH) Energy has completed acquisition of 100 percent of the share capital and all the securities of Vento Energy Infra from Essel Green Energy.
Maruti Suzuki: Owing to a supply constraint of electronic components due to the semiconductor shortage situation, the company is expecting an adverse impact on vehicle production in October 2021 in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat in Gujarat. It is currently estimated that the total vehicle production volume across both locations could be around 60 percent of normal production.
Vikas Lifecare: The company signed an MOU with National Agricultural Cooperative Marketing Federation of India which will help the company to facilitate, coordinate and promote the marketing and trading activities of the cooperative institution, partners and associates in agricultural, other commodities, articles and goods.
Banswara Syntex: Kotak Mahindra (International) sold 3.19 percent stake in the company via open market transaction on September 28, reducing shareholding to 4.42 percent from 7.61 percent earlier.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 2,225.60 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 97.18 crore in the Indian equity market on September 30, as per provisional data available on the NSE.Disclaimer: The views and investment tips expressed by investment expert on Moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.