The Nifty trimmed its gains amid volatility and closed the last session of the week higher on February 1 after the government maintained its fiscal discipline, and provided stimulus to farmers and taxpayers through several schemes in its last Budget ahead of the general election 2019.
The index formed bullish candle on the daily charts, which resembles a 'shooting star' kind of pattern. For the weekly chart also, it formed a bullish candle.
A shooting star pattern is formed when the index comes under selling pressure as traders start booking profits at higher levels.
Considering the loss of 90 points from day's high, traders looked a bit cautious after the Interim Budget 2019 and ahead of Monetary Policy Committee meeting next week, experts said, adding 10,812 could be crucial level to watch out for.
We have collated top 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
The Nifty closed at 10,893.7 on February 1. According to Pivot charts, the key support level is placed at 10,810.3, followed by 10,726.9. If the index starts moving upward, key resistance levels to watch are 10,980.3 and then 11,066.9.
Nifty Bank
The Nifty Bank index closed at 27,085.9 on February 1. The important Pivot level, which will act as crucial support for the index, is placed at 26,833.17, followed by 26,580.43. On the upside, key resistance levels are placed at 27,435.87, followed by 27,785.83.
Call options data
Maximum Call open interest (OI) of 31.56 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance for February series.
This was followed by the 11,200 strike price, which now holds 21.98 lakh contracts in open interest, and 10,900, which has accumulated 17.11 lakh contracts in open interest.
Call writing was seen at the strike price of 11,200, which added 6.9 lakh contracts, followed by 11,100, which added 5.22 lakh contracts and 11,300, which added 4.65 lakh contracts.
Call unwinding was seen at 10,800 strike, which shed 2.77 lakh contracts, followed by 10,700 strike which shed 1.74 lakh contracts.
Put options data
Maximum Put open interest of 29.69 lakh contracts was seen at the 10,700 strike price. This will act as a crucial support level for February series.
This was followed by the 10,400 strike price, which now holds 28.92 lakh contracts in open interest, and the 10,500 strike price, which has now accumulated 27.21 lakh contracts in open interest.
Put writing was seen at the strike price of 10,800, which added 8.08 lakh contracts, followed by 10,900, which added 7.69 lakh contracts and 10,500, which added 3.6 lakh contracts.
There was hardly any Put unwinding seen.
FII & DII data
Foreign Institutional Investors (FIIs) bought shares worth Rs 1,315.89 crore and Domestic Institutional Investors sold Rs 5.07 crore worth of shares in the Indian equity market on February 1, as per provisional data available on the NSE.
Fund Flow Picture
Stocks with a high delivery percentage
High delivery percentage suggests that investors are accepting delivery of the stock, which means that investors are bullish on it.
72 stocks saw a long buildup
49 stocks saw short covering
A decrease in open interest along with an increase in price mostly indicates short covering.
62 stocks saw a short build-up
An increase in open interest along with a decrease in price mostly indicates a build-up of short positions.
18 stocks saw long unwinding
Bulk Deals on February 1
Den Networks: Norges Bank sold 11.47 lakh shares of the firm at Rs 71.57 apiece.
Dewan Housing Finance: Crossland Trading traded 40.73 lakh shares at Rs 115.78-115.87 apiece.
Jet Airways: Crossland Trading traded 14.5 lakh shares at Rs 261.18-261.41 per share.
(For more bulk deals, click here)
Analyst or Board Meet/Briefings
Capacite Infraprojects: The company has called for a conference call on February 5, 2019 to discuss earnings.
Banco Products' board meeting is on February 12 to consider unaudited financial results for the quarter and period ended on 31.12.2018.
Religare Enterprises' board meeting is on February 12 to consider unaudited financial results for the quarter and period ended on December 31, 2018.
Rashtriya Chemicals and Fertilizers' board meeting is on February 12 to consider unaudited financial results for the quarter and period ended on December 31, 2018.
Time Technoplast's board meeting is on February 14 to approve un-audited financial results for the quarter and nine months ended December 31, 2018
Mercator's board meeting is on Feb 13 to consider un-audited financial results for the quarter ended December 31, 2018.
CMI's board meeting is on Feb 14 to consider un-audited financial results for the quarter ended December 31, 2018.
DQ Entertainment's (International) board meeting is scheduled on February 12 to consider and approve un-audited financial results.
Tata Steel's board meeting is on February 8 to consider unaudited consolidated financial results for the quarter ended December 31, 2018.
Ins-Swift Laboratories' board meeting is on February 11 to consider third quarter results.
Shakti Pumps' board meeting is scheduled on February 12 to consider and approve un-audited financial results for the quarter ended December 31, 2018.
Spice Mobility - Spice VAS (Africa) Pte. executed a share subscription agreement whereby co agreed to issue and allot 4,16,50,212 shares of its wholly owned subsidiary, Spice Digital (South Africa) Pty. to Karma Trust Group at a consideration of $1 million.
Centum Electronics' board will consider the proposal for declaration of interim dividend on February 6.
EID Parry India's board declared an interim dividend of Rs 2 (200 percent) for the financial year ending March 31, 2019.
Stocks in news
Akzo Nobel appointed Lakshay Kataria as a whole-time director and chief financial officer of the company.
Berger Paints appointed Anoop Hoon and Sonu Bhasin as additional, non-executive and independent directors.
Titan Q3
Net profit up 35 percent at Rs 416 crore, revenue up 34.4 percent at Rs 5,672.2 crore.
HG Infra Engineering Q3
Net profit rose to Rs 35.25 crore vs Rs 18.95 crore, revenue up at Rs 550.59 crore vs Rs 321.61 crore, YoY.
Artson Engineering Q3
Net loss at Rs 1.06 crore vs profit of Rs 40.86 crore, revenue at Rs 29.79 crore vs Rs 23.04 crore, YoY.
Equitas Holdings Q3
Net profit at Rs 62.5 crore as compared to a loss of Rs 30 crore in Q3FY18.
Voltamp Transformers Q3
Net profit down at Rs 22.22 crore as compared to Rs 23.60 crore in Q3FY18.
Cyient approves buyback of shares worth Rs 200 crore, buyback at not more than Rs 700 per share.
Tata Motors January auto sales:
Total domestic sales are down 8 percent at 54,915 units vs 59,441 units and
CV domestic sales are down 6 percent at 37,089 units vs 39,386 units, YoY.
Wipro launches Next-Gen ATSC 3.0 Digital TV receiver solution.
National Fertilizers declared payment of interim dividend of Rs 1.09 (10.90 percent) per equity share for the financial year 2018-19.
DHFL approved to disinvest BCP Topco VII Pte. 23,01,090 (9.15 percent) equity shares in Aadhar Housing Finance
Stocks under ban period on NSE
Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
For February 4, IDBI is present in this list.
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