The market climbed sharply after two days of consolidation and closed more than 1.5 percent higher amid unlock 5.0 guidelines and US stimulus hope on Thursday.
The BSE Sensex surged 629.12 points or 1.65 percent to 38,697.05 amid buying across sectors, while the Nifty50 jumped 169.50 points or 1.51 percent to 11,417 and formed a bullish candle on the daily charts. For the week, the index gained 3.3 percent forming a Bullish Harami pattern on the weekly scale.
"We observe back to back unfilled opening upside gaps on September 28 and October 1, which is indicating positive bias for the market ahead. If Thursday's gap remains unfilled at 11,260 in the next 1-2 sessions, then the present upside bounce could continue for some more period," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.
"Nifty is now moving towards the next overhead resistance around 11,500-11,550 (down sloping trend line, connected from the lower highs). This could be the last resort for bears to check the bulls in a negative pattern. A sustainable move above 11,620 could negate the bearish implication and that could pull the market towards 11,800 and higher in the near term," he said.
The broader markets underperformed benchmark indices, with the Nifty Midcap index rising 0.84 percent and Smallcap index up 0.66 percent.
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 is placed at 11,366.47, followed by 11,315.93. If the index moves up, the key resistance levels to watch out for are 11,448.07 and 11,479.13.
The Bank Nifty spiked 794.20 points or 3.70 percent to 22,246 on October 1. The important pivot level, which will act as crucial support for the index, is placed at 21,842.2, followed by 21,438.4. On the upside, key resistance levels are placed at 22,471.8 and 22,697.6.
Call option data
Maximum Call open interest of 17.43 lakh contracts was seen at 12,000 strike, which will act as crucial resistance in the October series.
This is followed by 11,500 strike, which holds 16.57 lakh contracts, and 11,800 strike, which has accumulated 10.36 lakh contracts.
Call writing was seen at 11,400 strike, which added 2.3 lakh contracts, followed by 11,800, which added 1.55 lakh contracts, and 11,700 strike, which added 1.43 lakh contracts.
Call unwinding was seen at 11,300 strike, which shed 1.55 lakh contracts, followed by 11,500 strike, which shed 1.46 lakh contracts and 11,200 strike which shed 1.36 lakh contracts.
Put option data
Maximum Put open interest of 36.28 lakh contracts was seen at 10,500 strike, which will act as crucial support in the October series.
This is followed by 11,000 strike, which holds 22.96 lakh contracts, and 10,800 strike, which has accumulated 16.67 lakh contracts.
Put writing was seen at 11,400 strike, which added 2.97 lakh contracts, followed by 11,000 strike, which added 2.26 lakh contracts and 11,300 strike which added 1.53 lakh contracts.
Put unwinding was witnessed at 10,500 strike, which shed 1.59 lakh contracts, followed by 10,400 strike which shed 99,300 contracts and 10,800 strike which shed 91,875 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 the open interest future percentage, here are the top 10 stocks in which long build-up was seen.
14 stocks saw long unwinding
Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.
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 the open interest future percentage, here are top 10 stocks in which short build-up was seen.
67 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 top 10 stocks in which short-covering was seen.
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Mahindra & Mahindra: Company's officials will interact with Mirae Asset Global Investments on October 5 and GIC of Singapore on October 7 via conference call.
Tata Chemicals: Company's officials will interact with FSSA Investment Managers (First State Stewart) on October 6 via conference call.
Tata Motors: Company's officials will meet Credit Suisse via video conference on October 6.
Mahindra EPC Irrigation: Company to consider September quarter earnings on October 23.
Sundaram-Clayton: Company to consider September quarter earnings on October 30.
Amara Raja Batteries: Company to consider September quarter earnings on October 27.
HFCL: Company to consider September quarter earnings on October 10.
Wipro: Company to consider September quarter earnings on October 13.
CARE Ratings: Company to consider September quarter earnings and dividend on November 3.
L&T Technology Services: Company to consider September quarter earnings and dividend on October 19.
Vivid Mercantile: Company on October 12 to consider allotment of bonus shares.
SM Gold: Company on October 12 to consider allotment of bonus shares.
Stocks in the news
Angel Broking: Company to list shares on October 5. Issue price is fixed at Rs 306 per share.
Reliance Industries: Mubadala Investment Company, GIC and TPG will invest Rs 13,597.5 crore into RIL's subsidiary Reliance Retail Ventures.
Tata Motors: Company sold 44,444 vehicles in September 2020 against 32,376 vehicles sold in September 2019, sales in Q2 increased 13% to 1,06,888 vehicles.
Route Mobile: Company completed the acquisition of primarily intellectual property (software) and associated identified customer contracts (business) of TeleDNA Communications, on a slump sale basis.
AGC Networks: Subsidiary Black Box Holdings has completed the acquisition of Fujisoft Technology LLC (Dubai) and Fujisoft Security Solutions LLC (Dubai).
ITI: Company signed contract with Ministry of Defense to implement Rs 7,796 crore ASCON Phase-IV project.
VST Tillers and Tractors: Company sold 2,246 power tillers in September 2020 against 1,292 tillers in September 2019. In same period, it sold 1,004 tractors against 669 tractors YoY.
Hero MotoCorp: Company sold 7,15,718 units in September 2020, up 16.9% compared to 6,12,204 units YoY.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,632.25 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 259.46 crore in the Indian equity market on October 1, as per provisional data available on the NSE.
Stock under F&O ban on NSE
One stock - Vedanta - is under the F&O ban for October 5. 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.Disclaimer: "Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd which publishes Moneycontrol."