According to the pivot charts, the key support level for Nifty is placed at 11,854.53, followed by 11,787.57. If the index moves up, key resistance levels to watch out for are 12,022.73 and 12,123.97.
The Indian market experienced a correction in the week gone by as the Nifty closed in the red in four of the five trading sessions for the week ended December 6.
Small and mid-cap stocks suffered more than the benchmarks. The S&P BSE Sensex fell 0.85 percent while Nifty was down by 1.1 percent compared to the 2.76 percent fall seen in the S&P BSE Mid-cap index, and the 1.6 percent drop in the S&P BSE Small-cap index for the week ended December 6.
Experts say, in the coming week, the US Fed meeting outcome and advancement in Trump's impeachment process will be the major international events while the listing of Ujjivan Small Finance Bank IPO and fundraising by Yes Bank will be some domestic factors traders can keep an eye on.
We have collated 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
Nifty settled with a loss of 0.81 percent at 11,921.50 on December 6. According to the pivot charts, the key support level for Nifty is placed at 11,854.53, followed by 11,787.57. If the index moves up, key resistance levels to watch out for are 12,022.73 and 12,123.97.
Nifty Bank closed 1.17 percent lower at 31,341.55. The important pivot level, which will act as crucial support for the index, is placed at 31,100.3, followed by 30,859. On the upside, key resistance levels are placed at 31,733.3 and 32,125.
Call options data
Maximum call open interest (OI) of 21.91 lakh contracts was seen at the 12,000 strike price. It will act as a crucial resistance level in the December series.
This is followed by 12,200 strike price, which holds 16.92 lakh contracts in open interest, and 12,100, which has accumulated 16.39 lakh contracts in open interest.
Significant call writing was seen at the 12,000 strike price, which added 3.7 lakh contracts, followed by 12,100 strike price that added 3.38 lakh contracts and 12,200 strike which added 3.12 lakh contracts.
Put options data
Maximum put open interest of 32.49 lakh contracts was seen at 12,000 strike price, which will act as a crucial support in the December series.
This is followed by 11,500 strike price, which holds 29.82 lakh contracts in open interest, and 11,800 strike price, which has accumulated 23.08 lakh contracts in open interest.
Put writing was seen at the 11,500 strike price, which added nearly 5.79 lakh contracts, followed by 11,800 strike, which added 1.38 lakh contracts.
Put unwinding was seen at 12,100 strike price, which shed 1.82 lakh contracts, followed by 11,900 strike which shed 41,025 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
9 stocks saw long buildup
73 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
56 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.
10 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short covering.
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Upcoming analyst or board meetings/briefings
The board of ECS Biztech will meet on December 9 to consider and approve the preferential issue of shares.
The board of Jagran Prakashan will meet on December 9 to consider and approve the buyback of shares.
The board of MIC Electronics will meet on December 9 for general purpose.
Stocks in the news
Dish TV India: CARE cut the company's short-term debt rating to D from A4+.
IRB Infrastructure: The board approved raising Rs 1,400 crore via NCDs.
Punjab & Sind Bank: Lender approved raising capital up to Rs 500 crore through QIPs.
KNR Constructions: The company signed a Concession Agreement for KNR Palani Infra Private Limited - HAM Project with NHAI.
Axis Bank: Jairam Sridharan resigned as Group Executive & Chief Financial Officer of the bank.
Escorts: CRISIL reaffirmed its long-term rating on the company at AA- with a stable outlook.
Zensar Technologies: The company partnered with Education Africa to support students of business management.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 867.66 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 210.72 crore in the Indian equity market on December 6, provisional data available on the NSE showed.
Stock under F&O ban on NSEYes Bank is under the F&O ban for December 9. 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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.