Market benchmarks ended in the red on November 29. However, the week augured well for both Sensex and Nifty as they hit fresh record highs and closed the week over 1 percent higher. The big returns, however, came from the small and mid-cap space.
The Sensex rose 1.08 percent while the Nifty gained 1.19 percent in the week ended November 29, compared to 0.78 percent rise in the S&P BSE small-cap index, and 2.3 percent rally in the mid-cap index in the same period.
As many as 23 stocks in the BSE 500 index, including companies from both the small and mid-cap space, rose 10-40 percent in just five trading sessions.
A weak macroeconomic environment still looms as a threat to the market.
In line with expectations, economic expansion slowed further in Q2 FY2020, with the Gross Domestic Product (GDP) and Gross Value Added (GVA) growth declining to 4.5 percent and 4.3 percent, respectively, in that quarter, from 5 percent and 4.9 percent, respectively, in Q1 FY2020.
Nifty formed a bearish belt hold pattern on daily charts. On the weekly scale, it formed a bullish candle as the index gained more than a percent for the week.
In the next couple of sessions, if the index manages a close below 11,990 level then correction shall get accelerated further. In that scenario, an ideal target on downsides can be initially around 11,800 levels, experts said.
We have collated 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
Nifty ended 0.78 percent lower at 12,056.05 in the previous session. According to the pivot charts, key support level for Nifty is placed at 11,999.8, followed by 11,943.6. If the index moves up, key resistance levels to watch out for are 12,129.8 and 12,203.6.
Nifty Bank
Nifty Bank closed 0.55 percent down at 31,946.10. The important pivot level, which will act as crucial support for the index, is placed at 31,782.3, followed by 31,618.5. On the upside, key resistance levels are placed at 32,098.4 and 32,250.7.
Call options data
Maximum call open interest (OI) of 18.16 lakh contracts was seen at the 12,500 strike price. It will act as a crucial resistance level in the December series.
This is followed by 12,000 strike price, which holds 15.42 lakh contracts in open interest, and 12,600, which has accumulated 12.04 lakh contracts in open interest.
Significant call writing was seen at the 12,100 strike price, which added 3.71 lakh contracts, followed by 12,300 strike price that added 3.08 lakh contracts and 12,200 strike which added 3 lakh contracts.
Call unwinding was witnessed at 12,000 strike price, which shed 90,000 contracts, followed by 11,700 which shed 8,175 contracts.
Put options data
Maximum put open interest of 28.85 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the December series.
This is followed by 11,800 strike price, which holds 12.70 lakh contracts in open interest, and 12,100 strike price, which has accumulated 10.96 lakh contracts in open interest.
Put writing was seen at the 11,800 strike price, which added nearly 1.47 lakh contracts, followed by 11,600 strike, which added 82,350 contracts.
Put unwinding was seen at 11,900 strike price, which shed 90,075 contracts, followed by 12,000 strike which shed 66,675 contracts and 12,200 which shed 54,000 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks:
22 stocks saw long buildup
Based on open interest (OI) future percentage, here are the top 10 stocks in which long buildup was seen:
51 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen:
62 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 open interest (OI) future percentage, here are the top 10 stocks in which short build-up was seen:
15 stocks witnessed short-covering
As per available data, 15 stocks witnessed short-covering. A decrease in open interest, along with an increase in price, mostly indicates a short covering. Based on open interest (OI) future percentage, here are the top 10 stocks in which short-covering was seen:
Bulk deals
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Upcoming analyst or board meetings/briefings
Asian Petroproducts & Exports' board will meet on December 2 to consider and approve an increase in authorised capital.
Websol Energy Systems' board will meet on December 2 to consider and approve preferential issuance of shares.
Stocks in the news
Jagran Prakashan: The board will mull share buyback on December 9.
DHFL: RBI filed a plea to start the insolvency process against the company.
Bharti Airtel: The company will consider raising funds via debt, equity on December 4.
5paisa Capital: Subsidiary company 5Paisa P2P received a certificate of registration to act as NBFC-P2P from RBI.
Infosys: The company signed an agreement with the Australian Federal Government's Services Australia to transform the entitlement calculation engine for the nation's welfare system.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 1,892.29 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 953.62 crore in the Indian equity market on November 29, provisional data available on the NSE showed.
Fund flow
Stock under F&O ban on NSE
There is no stock under the F&O ban for December 2. 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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