Equity benchmarks -- Sensex and Nifty -- resumed their upward march on July 23, supported by gains in select heavyweights, including Reliance Industries, ICICI Bank, Kotak Mahindra Bank, ITC and State Bank of India (SBI).
The Sensex ended the day 269 points, or 0.71 percent, higher at 38,140.47 and the Nifty closed 83 points, or 0.74 percent, up at 11,215.45.
"Markets are currently riding high on better-than-expected earnings and upbeat global markets. Considering the momentum, Nifty may test 11,350 soon. Traders should opt for hedged trades instead of outrights," Ajit Mishra, VP - Research, Religare Broking, 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 for the NiftyAccording to pivot charts, the key support level for the Nifty is placed at 11,132.53, followed by 11,049.57. If the index moves up, the key resistance levels to watch out for are 11,269.13 and 11,322.77.
Nifty BankThe Nifty Bank index ended 0.88 percent higher at 23,083.90 on July 23. The important pivot level, which will act as crucial support for the index, is placed at 22,838.43, followed by 22,592.97. On the upside, key resistance levels are placed at 23,225.83 and 23,367.77.
Call option dataMaximum call OI of 33.73 lakh contracts was seen at 11,500 strike, which will act as crucial resistance in the July series.
This is followed by 11,000, which holds 21.9 lakh contracts, and 11,200 strikes, which has accumulated 19.44 lakh contracts.
Significant call writing was seen at 11,400, which added 5.84 lakh contracts, followed by 11,200 strikes, which added 5.11 lakh contracts.
Call unwinding was seen at 11,100, which shed 46,050 contracts, followed by 11,000 strikes, which shed 34,875 contracts.
Maximum put OI of 38.05 lakh contracts was seen at 11,000 strike, which will act as crucial support in the July series.
This is followed by 10,800, which holds nearly 20.26 lakh contracts, and 10,700 strikes, which has accumulated 18.71 lakh contracts.
Significant put writing was seen at 11,000, which added 9.56 lakh contracts, followed by 11,200 strikes, which added 9.41 lakh contracts.
No significant put unwinding was witnessed on July 23.
A high delivery percentage suggests that investors are showing interest in these stocks.
Based on the OI future percentage, here are the top 10 stocks in which long build-up was seen.
An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions. Based on the OI future percentage, here are the top 10 stocks in which short build-up was seen.
A decrease in OI, along with an increase in price, mostly indicates a short-covering. Based on the OI future percentage, here are the top 10 stocks in which short-covering was seen.
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Fund flow