Benchmark indices Sensex and Nifty extended their winning streak into the fourth consecutive session on February 6 after the Reserve Bank of India announced measures that are being perceived as positive for bank, auto and real estate sectors.
"RBI announced various measures for real estate, auto and MSME sectors and tweaked maintenance of CRR norms which will improve the lending environment by easing the liquidity flow and reducing the banks’ cost of funding," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
Sensex ended the day at 41,306.03, up 163 points or 0.40 percent while Nifty closed with a gain of 49 points or 0.40 percent.
Experts said technical indicators are signalling at a pause in the recent uptrend.
"Today's formation of high wave-type candle pattern at the resistance could indicate an absence of sharp upside momentum at the highs. This pattern could be considered as an early signal of pause in the recent uptrend. Any weakness below the immediate support of 12,080 levels could trigger short term downward correction in the market. Intraday resistance is placed at 12,180," said Deepak Jasani, Head Retail Research, HDFC Securities.
We have collated 15 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 12,094.93, followed by 12,051.87. If the index continues moving up, key resistance levels to watch out for are 12,170.83 and 12,203.67.
Nifty Bank closed 0.97 percent up at 31,304.05. The important pivot level, which will act as crucial support for the index, is placed at 30,990.63, followed by 30,677.17. On the upside, key resistance levels are placed at 31,544.13 and 31,784.17.
Call options data
Maximum call open interest (OI) of 23.95 lakh contracts was seen at the 12,500 strike price. It will act as a crucial resistance level in the February series.
This is followed by 12,400 strike price, which holds 16.73 lakh contracts in open interest, and 12,200, which has accumulated 14.23 lakh contracts in open interest.
Significant call writing was seen at the 12,100 strike price, which added 3.51 lakh contracts, followed by 12,500 strike price that added 2.7 lakh contracts and 12,300 strike price, which added 1.95 lakh contracts.
Call unwinding was witnessed at 11,900 strike price, which shed 2.6 lakh contracts, followed by 12,000 which shed 1.62 lakh contracts.
Put options data
Maximum put open interest of 31.13 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the February series.
This is followed by 11,700 strike price, which holds 18.31 lakh contracts in open interest, and 11,800 strike price, which has accumulated 17.95 lakh contracts in open interest.
Put writing was seen at the 12,100 strike price, which added 5.42 lakh contracts, followed by 12,000 strike, which added 2.61 lakh contracts.
Put unwinding was seen at 11,900 strike price, which shed 65,400 contracts, followed by 11,800 strike price which shed 52,725 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
41 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.
19 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
37 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.
45 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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ACC, ADF Foods, Alkem Laboratories, Ashoka Buildcon, Britannia Industries, Corporation Bank, Daulat Securities, Emami, 3i Infotech, 63 Moons Technologies, Abbott India, NCC and NTPC are among the companies that will release their quarterly earnings on February 7.
Stocks in the news
Wipro: Company bagged multi-year strategic IT deal from Marelli.
Hero MotoCorp: Q3 profit rises 14.5 percent to Rs 880.4 cr, revenue drops 11 percent to Rs 6,996.7 cr YoY.
Aurobindo Pharma: Q3 profit dips 1 percent to Rs 705.3 cr, revenue rises 11.9 percent to Rs 5,895 cr YoY.
Bata: Q3 profit rises 13.6 percent to Rs 117.2 cr, revenue increases 6.5 percent to Rs 829.6 cr YoY.
Akzo Nobel: Q3 profit jumps 27.5 percent to Rs 77 cr, revenue dips 7.2 percent to Rs 727 cr YoY.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 560.36 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 304.01 crore in the Indian equity market on February 6, provisional data available on the NSE showed.
Stock under F&O ban on NSEYes Bank is under the F&O ban for February 7. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.