The market registered gains for the second consecutive week ending on April 17, following positive global cues on expectations that infections may be peaking in Europe and that the US may ease lockdown of business as the number of reported cases is declining on daily basis.
The Nifty50 climbed 1.7 percent to 9,266.75, and the BSE Sensex rose 1.38 percent to 31,588.72 during the volatile week, taking total recovered gains to 22 percent from lows touched on March 23.
Experts expect the global mood to guide Indian equities in the coming weeks and do not see major directional move unless the lockdown is lifted in major economies. Stock-specific movement may be seen due to quarterly earnings which seem to have been priced in by the market.
We have collated 14 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 9,130.73, followed by 8,994.72. If the index continues moving up, key resistance levels to watch out for are 9,363.38 and 9,460.02.
The important pivot level, which will act as crucial support for the index, is placed at 19,984.93 followed by 19,288.47. On the upside, key resistance levels are placed at 21,122.23 and 21,563.06.
Call options data
Maximum call open interest (OI) of 16.16 lakh contracts was seen at the 10,000 strike price. It will act as a crucial resistance level in the April series.
This is followed by 9,000 strike price, which holds 14.84 lakh contracts in open interest, and 9,500, which has accumulated 13.62 lakh contracts in open interest.
Call writing was seen at the 9,500 strike price, which added 1.39 lakh contracts, followed by 9,800 strike price that added 1.27 lakh contracts.
A minor call unwinding was witnessed at 10,000 strike price, which shed 80,250 contracts followed by 9,100 strike price which shed 57,900 contracts.
Put options data
Maximum put open interest of 20.84 lakh contracts was seen at 9,000 strike price, which will act as crucial support in the April series.
This is followed by 8,500 strike price, which holds 18.86 lakh contracts in open interest, and 9,500 strike price, which has accumulated 8.75 lakh contracts in open interest.
Put writing was seen at the 9,000 strike price, which added 2.20 lakh contracts, followed by 9,200 strike, which added 1.31 lakh contracts.
Minor Put unwinding was seen at 8,500 strike price, which shed 17,775 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
65 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.
20 stocks saw long unwinding
14 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.
46 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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Stocks in the news
Prataap Snacks: Smaller Cap World Fund Inc sold 2,43,857 shares of the company at Rs 458.08 per share.
Apollo Tyres: Board approved the issue of NCDs on private placement basis aggregating to Rs 1,000 crore.
Welspun Specialty Solutions: Essential processes of integrated steel plant at Jhagadia was made operational.
TT Ltd: The company started partial manufacturing activities at factories in UP to produce face masks and allover bodysuits.
Manappuram Finance: S&P Global Ratings revised outlook on the company to negative and affirmed the BB-/B ratings.
Lakshmi Vilas Bank: JM Financial bought 2.78% stake in March quarter, SREI Infrastructure raised its stake to 3.34% from 1.92%.
Clariant Chemicals: Bajaj Allainz Life Insurance Company raised its stake to 3.34% in March quarter from 2.82% QoQ.
GIC Housing Finance: Commercial paper being due has been paid to concerned CP holders.
JK Cement: Production has become partially operational at manufacturing facilities in Karnataka.
Foods & Inns: The company received approval to start operations in divisions at Nasik, Valsad (Gujarat), Chittoor (Andhra Pradesh) and Gonde (Sinnar, Nasik).
ICICI Bank: S&P affirmed ratings on the bank at BBB-, but rating outlook revised from stable to negative.
Indian Hotels: The company approved raising of funds up to Rs 150 crore by way of private placement from Axis Bank.
Jubilant Life Sciences: The company issued commercial papers of Rs 100 crore.
Mangalam Organics: The company resumed operations at its factory.
Diana Tea: The company started operations at all its tea gardens in Jalpaiguri, West Bengal.
Kotak Mahindra Bank: S&P reaffirmed rating outlook on the bank at BBB-/ A-3 with a Stable outlook.
FII and DII dataForeign institutional investors (FIIs) sold shares worth Rs 1,391.98 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 534.24 crore in the Indian equity market on April 17, provisional data available on the NSE showed.