Indian equity benchmarks closed with modest gains on March 5 as fears over coronavirus cases and its economic fallout continued to weigh in on sentiments.
Sensex traded in the green zone for the most part of the day; at one point in the day, the 30-share index was 478 points up.
However, it failed to hold altitude and pared most of the gains. Signs of improvement in the global cues offered little relief and the equity barometer Sensex eventually ended with a modest gain of 61 points, or 0.16 percent, at 38,470.61, while Nifty settled 18 points, or 0.16 percent, up at 11,269.
Vinod Nair, Head of Research at Geojit Financial Services, said that the funds allocated by IMF and easing monetary measures are marginally supporting global markets but India is underperforming due to coronavirus cases.
While the Nifty has bounced back from the lows, the short-term trend remains down. The Nifty will have to convincingly cross the recent highs of 11,433 to reverse the downtrend, said Deepak Jasani, Head Retail Research, HDFC Securities.
We have collated 15 data points to help you spot profitable trades:
Note: The OI and volume data of stocks given in this story are the aggregates of the three-months data and not of the current month only.
Key support and resistance level for Nifty
According to the pivot charts, the key support level for Nifty is placed at 11,212.57, followed by 11,156.13. If the index moves up, key resistance levels to watch out for are 11,357.47 and 11,445.93.
Nifty Bank closed 0.56 percent up at 28,815.35. The important pivot level, which will act as crucial support for the index, is placed at 28,522.5, followed by 28,229.7. On the upside, key resistance levels are placed at 29,121.2 and 29,427.1.
Call options data
Maximum call open interest (OI) of 17.51 lakh contracts was seen at the 11,800 strike price. It will act as a crucial resistance level in the March series.
This is followed by 11,500 strike price, which holds 16.18 lakh contracts in open interest, and 11,300, which has accumulated 15.06 lakh contracts in open interest.
Significant call writing was seen at the 11,800 strike price, which added 76,275 contracts, followed by 11,500 strike price that added 38,700 contracts.
Call unwinding was witnessed at 11,700 strike which shed 1.43 lakh contracts. This was followed by 11,400 strike which shed 1.05 lakh contracts.
Put options data
Maximum put open interest of 31.86 lakh contracts was seen at 11,000 strike price, which will act as crucial support in the March series.
This is followed by 11,300 strike price, which holds 19.17 lakh contracts in open interest, and 11,700 strike price, which has accumulated 18.74 lakh contracts in open interest.
Put writing was seen at the 11,000 strike price, which added 2.91 lakh contracts, followed by 11,400 strike, which added 1.81 lakh contracts.
Put unwinding was seen at 11,200 strike price, which shed 60,600 contracts, followed by 11,500 strike price which shed 45,750 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.
18 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
49 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.
36 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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The respective boards of Alembic Pharmaceuticals, Marico, Power Grid, A.k. Capital Services, Alphageo (India), Elgi Equipments, Great Eastern Shipping Company, Havells India, Jenburkt Pharmaceuticals, Kirloskar Oil Engines and Nocil will meet on March 6 to consider and approve interim dividends.
The respective boards of Shree Metalloys, Shailja Commercial Trade Frenzy, STL Global, Sanghvi Brands, Nilachal Refractories, Maximaa Systems, Firstobject Technologies, Daulat Securities, Bombay Potteries & Tiles, Asia Capital and Akme Star Housing Finance will meet on March 6 for general purposes.
Stocks in news
M&M: February production down 56 percent to 25,643 units, sales down 43 percent to 30,083 units YoY.
JSW Steel: Moody's has changed the outlook on company's ratings to stable from positive; affirmed Ba2 ratings.
Yes Bank: SBI, LIC likely to pick up 24.5 percent stake each in the bank - CNBC-TV18 sources.
Pidilite: Company incorporates JV to carry on construction business using C-Techos Wall Tech.
Lupin: Company launched generic Vimovo tablets in the USA.
Syndicate Bank: Board approved share swap ratio for the merger with Canara Bank.
Union Bank: Board approved share exchange ratio for the merger with Andhra Bank & Corporation Bank. Approved share swap ratio at 325 shares of Union Bank for every 1,000 shares of Andhra Bank and at 330 shares of Union Bank for every 1,000 shares of Corporation Bank.
PNB: Board approved share exchange ratio for the merger with OBC and United Bank.
JSW Steel: ICRA revised the long-term credit rating of the company to AA-.
JSW Energy: Promoters created a pledge on 1.25 crore shares (0.75 percent equity) from February 27 to March 3.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 2,476.75 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 2,510.89 crore in the Indian equity market on March 5, provisional data available on the NSE showed.
Stock under F&O ban on NSEYes Bank is under the F&O ban for March 6. 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.