The market hit a fresh record high amid volatility after the RBI left repo rate unchanged at 4 percent and maintained accommodative stance while revising growth forecast and assuring liquidity support, on December 4.
The benchmark indices ended at record closing high backed by buying across sectors. The BSE Sensex rose 446.90 points or 1 percent to 45,079.55, while the Nifty50 jumped 124.60 points or 0.95 percent to 13,258.50 and formed bullish candle on the daily as well as weekly charts. The index gained 2.23 percent for the week.
"The formation of long positive candle of Friday has surpassed the high of previous negative candle pattern of Bearish Engulfing (November 25) and closed higher. This is positive indication and the negation of this pattern could mean more upside for the market in the near term," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.
The upside levels to be watched for the next week is at 13,500 mark and the immediate support is placed at 13,150, he said.
The broader markets underperformed frontliners, as the Nifty Midcap and Smallcap indices gaining 0.35 percent each.
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 13,180.87, followed by 13,103.23. If the index moves up, the key resistance levels to watch out for are 13,308.07 and 13,357.63.
The Bank Nifty climbed 603.60 points or 2.05 percent to close at 30,052.40 on December 4. The important pivot level, which will act as crucial support for the index, is placed at 29,629.84, followed by 29,207.27. On the upside, key resistance levels are placed at 30,318.64 and 30,584.87.
Call option data
Maximum Call open interest of 27.11 lakh contracts was seen at 13,000 strike, which will act as crucial level in the December series.
This is followed by 13,500 strike, which holds 18.84 lakh contracts, and 14,000 strike, which has accumulated 17.27 lakh contracts.
Call writing was seen at 14,200 strike, which added 3.23 lakh contracts, followed by 13,600 strike which added 2.1 lakh contracts and 13,800 strike which added 1.02 lakh contracts.Call unwinding was seen at 13,100 strike, which shed 92,400 contracts, followed by 13,500 strike which shed 52,500 contracts and 12,500 strike which shed 34,425 contracts.
Put option data
Maximum Put open interest of 30.86 lakh contracts was seen at 13,000 strike, which will act as a crucial support in the December series.
This is followed by 12,500 strike, which holds 23.37 lakh contracts, and 12,800 strike, which has accumulated 20.22 lakh contracts.
Put writing was seen at 13,200 strike, which added 4.74 lakh contracts, followed by 12,900 strike, which added 2.18 lakh contracts and 13,000 strike which added 1.96 lakh contracts.
There was hardly any Put unwinding seen on Friday.
Stocks with a high delivery percentageA 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 10 stocks in which long build-up was seen.
16 stocks saw long unwinding
Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.
25 stocks saw short build-upAn 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 the top 10 stocks in which short build-up was seen.
53 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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Analysts Meets/Board Meetings
Mahindra & Mahindra: Company's officials will attend JP Morgan Virtual Global Auto week and meet Banyan Tree Advisors on December 7, will also attend Goldman Sachs Virtual CIO Tour on December 8.
Computer Age Management Services: Company's officials will meet Siddhartha Asset Management, Singapore on December 7 and Invesco Canada on December 8.
VIP Industries: Company's officials will interact with analysts/investors on December 9.
EIH: Kallol Kundu, CFO would be joining Ambit's Travel Ecosystem Conference being organised by Ambit Capital on December 8.
Bajaj Electricals: Company will have three one on one Investor calls, as organised by PhillipCapital (India) on December 8.
Sterlite Technologies: Company has scheduled a virtual discussion with its industry experts 'STLescope Tech Talk' on December 11.
Godrej Consumer Products: Company will organize a conference call for investors and analysts on December 18 to discuss India business performance and strategy.
Stocks in the news
ONGC: Subsidiary ONGC Videsh made 'significant' oil strike in Colombia.
KPI Global Infrastructure: Company has signed new long term power purchase agreement with Alliance Fibres, Surat for sale of 1.30 MW solar power for a period of 20 years under Independent Power Producer (IPP) business vertical.
ITD Cementation India: ICRA reaffirmed the long-term rating for the Line of Credit (LOC) at A. The Outlook on the long-term rating has been revised to negative from stable.
Zodiac Clothing: Pari Washington India Master Fund cut stake in company to 7.01% from 7.33% earlier.
Smartlink Holdings: Board approved the proposal to buy back up to 33.25 lakh equity shares at a price of Rs 95 per share, for up to Rs 31.58 crore.
Tata Power: Company received Letters of Intents from The Odisha Electricity Regulatory Commission (OERC) to own the licences for the distribution and retail supply of electricity in WESCO Utility & SOUTHCO Utility license area.
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 2,969.59 crore, whereas domestic institutional investors (DIIs) net sold shares worth Rs 1,971.6 crore in the Indian equity market on December 4, as per provisional data available on the NSE.
Stocks under F&O ban on NSEOne stock - Canara Bank - is under the F&O ban for December 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.