The market closed at a new high on June 11 as states rolled back restrictions following a steady drop in daily coronavirus infections, raising hopes of a faster economic recovery. IT, metals, pharma and select auto stocks saw healthy buying interest.
The BSE Sensex rallied 174.29 points to close at 52,474.76. The Nifty50 climbed 61.60 points to ends 15,799.40 and formed a Doji candle on the daily charts, as the closing was near the opening levels. The index was up 0.8 percent during the week, forming a small bullish candle formation on the weekly scale.
"Normally, the formation of Doji after a reasonable decline or at the new highs signals caution for the bulls at the highs. A decline in the subsequent session could only be considered as a reversal pattern. On the other side, a sustainable move above the high of Doji (15,835) is likely to negate the negative implication and could bring the bulls back into action," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.
Though momentum on the upside has slowed down, the market breadth remains intact and there is no indication of profit-booking or reversal from the highs. “The next upside levels to be watched around 16,000 and immediate support is placed at 15,690," he said.
Broader markets also closed in the green as the Nifty midcap 100 index and smallcap index gained 0.22 percent and 0.54 percent, respectively.
We have collated 15 data points to help you spot profitable trades:
Note: The open interest (OI) and volume data of stocks is the aggregate of three-month data and not of this month alone.
Key support, resistance levels for Nifty
According to pivot charts, the key support for the Nifty are placed at 15,754.23 followed by 15,709.17. If the index moves up, the key resistance levels to watch out for are 15,839.93 and 15,880.57.
Nifty Bank
The Nifty Bank slipped 83.80 points to close at 35,047.40 on June 11. The important pivot level, which will act as crucial support for the index, is at 34,844.46 followed by 34,641.53. On the upside, key resistance levels are at 35,297.16 and 35,546.93.
Call option data
Maximum Call open interest of 24.64 lakh contracts was seen at 16,000 strike, which will act as a crucial resistance level in the June series.
This is followed by 16100 strike, which holds 14.11 lakh contracts, and 16500 strike, which has accumulated 14.02 lakh contracts.
Call writing was seen at 16,500 strike, which added 3 lakh contracts, followed by 15,800 strike which added 2.54 lakh contracts, and 16,100 strike that added 2.13 lakh contracts.
Call unwinding was seen at 15,600 strike, which shed 37,275 contracts, followed by 15,300 strike, which shed 27,600 contracts, and 1500 strike that shed 25,350 contracts.
Put option data
Maximum put open interest of 30.16 lakh contracts was seen at 15,000 strike, which will act as a crucial support level in the June series.
This is followed by 15500 strike, which holds 27.78 lakh contracts, and 15700 strike that has accumulated 16.51 lakh contracts.
Put writing was seen at 15,500 strike, which added 4.78 lakh contracts, followed by 15,800 strike, which added 4.49 lakh contracts, and 16,200 strike which added 2.89 lakh contracts.
Put unwinding was seen at 15000 strike that shed 14,175 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
37 stocks saw a long build-up
An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the top 10 stocks in which a long build-up was seen.
34 stocks saw long unwinding
A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.
52 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 the top 10 stocks in which a 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 the open interest future percentage, here are the top 10 stocks in which short-covering was seen.
Bulk deals
Globus Spirits: Templeton Strategic Emerging Markets Fund IV LDC sold 3.31 lakh equity shares in Globus Spirits at Rs 383.22 a share on the NSE. Rajasthan Global Securities was the buyer of 1,80,210 shares in the company at Rs 383.66 apiece, the bulk deals data showed
Indiabulls Housing Finance: Blackrock Emerging Markets Fund Inc acquired 25,50,957 shares in the mortgage lender at Rs 287.84 per share on the NSE, the bulk deals data showed.
Accelya Solutions India: Plutus Wealth Management LLP bought 7 lakh shares in Accelya Solutions at Rs 1,194.91 per share, whereas Setu Securities sold 2,50,335 at Rs 1,192.29 a share on the NSE, the bulk deals data showed.
(For more bulk deals, click here)
Results on June 14
Coal India, IDFC, Indian Overseas Bank, Aditya Consumer Marketing, Arihant Capital Markets, BF Investment, BFL Asset Finvest, BF Utilities, Gayatri Projects, Globus Spirits, Greenply Industries, Hemisphere Properties India, IFB Industries, JB Chemicals & Pharmaceuticals, Jaiprakash Power Ventures, Kajaria Ceramics, Kellton Tech Solutions, Mirc Electronics, Satin Creditcare Network, Singer India, Swelect Energy Systems and Uttam Sugar Mills will release quarterly earnings on June 14.
Stocks in News
DLF: The company reported consolidated profit at Rs 480.94 crore in Q4FY21 against a loss of Rs 1,857.76 crore in Q4FY20, revenue increased to Rs 1,712.57 crore from Rs 1,694.2 crore YoY.
BHEL: The company posted consolidated loss at Rs 1,034.8 crore in Q4FY21 against a loss of Rs 1,532.67 crore in Q4FY20, revenue jumped to Rs 7,170.5 crore from Rs 5,022.94 crore YoY.
Sun TV Network: The company reported a sharply higher profit at Rs 449.88 crore in Q4FY21 against Rs 250 crore in Q4FY20, revenue increased to Rs 782 crore from Rs 735.16 crore YoY.
Adani Enterprises: The company incorporated wholly-owned subsidiary Adani Cement Industries on June 11.
Anupam Rasayan India: The company reported a higher consolidated profit at Rs 22.14 crore in Q4FY21 against Rs 10.38 crore in Q4FY20, revenue jumped to Rs 271.66 crore from Rs 157 crore YoY.
Lumax Auto Technologies: The company reported a higher consolidated profit at Rs 24.88 crore in Q4FY21 against Rs 6.23 crore in Q4FY20, revenue increased to Rs 387.98 crore from Rs 272.74 crore YoY.
Fund flow
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 18.64 crore, while domestic institutional investors (DIIs) purchased shares worth Rs 666.36 crore in the Indian equity market on June 11, provisional data available on the NSE showed.
Stocks under F&O ban on NSE
Five stocks—BHEL, Canara Bank, Indiabulls Housing Finance, NALCO, and Sun TV Network—are under the F&O ban for June 14. 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.
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