The market after initial hours of volatility gained strength and traded higher for rest of the session to hit a fresh record high intraday on August 27, the first day of September series. All sectoral indices closed in green with IT, Metal and Pharma being the leader.
The benchmark indices ended at record closing high. The BSE Sensex rose 175.62 points to 56,124.72, while the Nifty50 climbed 68.30 points to 16,705.20 and formed bullish candle on the daily charts. The index gained 1.55 percent for the week and witnessed bullish candle formation on the weekly scale.
"Technically, post the short-term correction Nifty has maintained higher high and higher low series formation and after a strong pullback rally, the index is currently trading near the breakout level. The texture of the chart suggests that the 10 days SMA or 16,550 would be the sacrosanct level for the breakout," said Shrikant Chouhan, Executive Vice President, Equity Technical Research at Kotak Securities.
According to him, if the index crosses the level, the uptrend could continue up to 16,825-16,950 levels. On the flip side, "dismissal of 16,550 may trigger temporary weakness till 16,375-16,300 levels," he said.
The broader markets outperformed frontliners with the Nifty Midcap 100 index rising 1.06 percent and Smallcap 100 index climbing 0.77 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 are placed at 16,606.5, followed by 16,507.8. If the index moves up, the key resistance levels to watch out for are 16,763 and 16,820.8.
Nifty Bank
The Nifty Bank underperformed benchmark indices, rising 10.20 points to 35,627.80 on August 27. The important pivot level, which will act as crucial support for the index, is placed at 35,415.36, followed by 35,202.93. On the upside, key resistance levels are placed at 35,784.06 and 35,940.33 levels.
Call option data
Maximum Call open interest of 19.07 lakh contracts was seen at 16500 strike. This is followed by 17000 strike, which holds 18.11 lakh contracts, and 16700 strike, which has accumulated 16.75 lakh contracts.
Call writing was seen at 16700 strike, which added 1.36 lakh contracts, followed by 16900 strike, which added 1.28 lakh contracts and 17500 strike which added 1.23 lakh contracts.
Call unwinding was seen at 16600 strike, which shed 1.13 lakh contracts.
Put option data
Maximum Put open interest of 28.24 lakh contracts was seen at 16000 strike, which will act as a crucial support level in the September series.
This is followed by 16500 strike, which holds 25.53 lakh contracts, and 16700 strike, which has accumulated 14.98 lakh contracts.
Put writing was seen at 16500 strike, which added 4.5 lakh contracts, followed by 16700 strike which added 3.81 lakh contracts, and 16600 strike which added 2.63 lakh contracts.
There was hardly any Put unwinding seen on Friday.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
101 stocks saw 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.
6 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 6 stocks in which long unwinding was seen.
13 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.
44 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
Bal Pharma: Promoter Micro Labs acquired entire stake in the company from investor Jitendra Tejraj Lunia. Promoter bought 3,00,900 equity shares at Rs 92.74 per share. Jitendra Tejraj Lunia exited the company by selling entire shareholding at Rs 92.73 per share on the NSE, the bulk deals data showed.
Gayatri Projects: Munish Financial bought 14 lakh equity shares in the company at Rs 47.88 per share on the NSE, the bulk deals data showed.
Manaksia Steels: Investor Ekta Halwasiya added additional 3,34,626 equity shares in the company at Rs 38.63 per share on the NSE, the bulk deals data showed.
Tarmat: Investors Sunita Babulal Surana and Sunita Sanjay Surana sold 70,000 equity shares in the company at Rs 60.88 and 1,05,000 equity shares in the company at Rs 59.51 per share respectively on the NSE, the bulk deals data showed.
(For more bulk deals, click here)
Analysts/Investors Meeting
Steel Strips Wheels: The company's officials will meet Edelweiss Securities on August 30.
Hinduja Global Solutions: The company's officials will meet Fidelity International on August 30.
Finolex Industries: The company's officials will meet analysts and fund managers on August 30.
The Ramco Cements: The company's officials will meet Goldman Sachs Asset Management on August 30.
Tube Investments of India: The company's officials will meet analysts and institutional investors on August 30.
Blue Star: The company's officials will meet BOB Capital Markets on August 30, and meet investors in Ambit Investor Connect on September 3.
Indian Railway Catering and Tourism Corporation: The company's officials will meet Motilal Oswal Mutual Fund, Tata AMC, Sundaram MF, Birla MF, Birla Insurance, WhiteOak Capital, and Kotak AMC on August 31.
Adani Transmission: The company's officials will meet investors and analysts in Systematix Power Utilities Conference on August 31, Elara Conference on September 7, and Jefferies Asia Forum on September 8-9.
Crompton Greaves Consumer Electricals: The company's officials will meet First Sentier Investors on September 1, and HDFC Life Insurance on September 6.
RACL Geartech: The company's officials will meet investors on September 3.
Stocks in News
Tinplate Company of India: The company approved an expansion plan, investing in putting up an additional capacity of 3,00,000 tonne per annum at Jamshedpur. The project is expected to be completed in about 3 years.
Dalmia Bharat: Subsidiary Dalmia Cement (Bharat) signed three Memorandum of Understandings with the Government of Jharkhand to invest Rs 758 crore in the state.
GOCL Corporation: The company has entered into an agreement with Squarespace Infra City for sale of 44.25 acres land at Kukatpally, Hyderabad, for Rs 451.79 crore. The transaction is expected to be completed in 3-6 months. The remaining land of about 32.09 acres will continue under the Joint Development Agreement with Hinduja Estates (HEPL) for development based on approvals.
SRF: Gujarat Pollution Control Board (GPCB) has issued a revocation order under Air (Prevention and Control of Pollution) Act, 1981 for resumption of operations in P2 and the two other allied plants with immediate effect.
Nazara Technologies: The company to make strategic investment for the proposed acquisition of 100% stake in OpenPlay Technologies from its existing shareholders i.e. Sreeram Reddy Vanga and Unnati Management Consultants LLP, for Rs 186.41 crore, in one or more tranches.
Mahindra & Mahindra: The Ministry of Defence (MoD) has awarded a major contract to Mahindra Defence Systems worth Rs 1,349.95 crore for the manufacturing of Integrated Anti-Submarine Warfare Defence Suite (IADS) for modern warships of Indian Navy.
Fund flow
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 778.75 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 1,646.19 crore in the Indian equity market on August 27, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Not a single stock is under the F&O ban for August 30. 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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