According to the pivot charts, the key support level for the Nifty is placed at 11,853.27, followed by 11,798.33
The market ended near day's low on November 8 after Moody’s Investors Service cut India's credit rating outlook to negativeAt close, the Sensex was down 330.13 points or 0.81 percent at 40,323.61, while Nifty was down 103.80 points or 0.86 percent at 11,908.20.
"The overall structure indicates some rangebound trade from 11,780-12,050 in the coming truncated week. Now, any breakout from this range will provide further direction," said Nilesh Jain of AnandRathi.
"However, on the derivative front, continuous call writing at 12,000 strike in the weekly, as well as, monthly expiry is hinting that upside is capped and we expect tepid start on Monday with some rangebound trade," he added.
We have collated 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
According to the pivot charts, the key support level for the Nifty is placed at 11,853.27, followed by 11,798.33. If the index starts moving up, key resistance levels to watch out for are 11,998.67 and 12,089.13.
Nifty Bank rose 116.25 points at 30,749.40 on November 8. The important pivot level, which will act as crucial support for the index, is placed at 30,466.2, followed by 30,183. On the upside, key resistance levels are placed at 31,070.5and 31,391.6.
Call options data
Maximum call open interest (OI) of 19.13 lakh contracts was seen at 12,000 strike price. It will act as a crucial resistance level in the November series.
This is followed by 11,800 strike price, which holds 14.70 lakh contracts in open interest; and 12,500, which has accumulated 13.17 lakh contracts in open interest.
Call writing was seen at the 12,000 strike price, which added 1.19 lakh contracts, followed by 12,500 strike that added 1.09 contracts.
No major Call unwinding was seen.
Put options data
Maximum put open interest (OI) of 20.43 lakh contracts was seen at 11,600 strike price, which will act as crucial support in November series.
This is followed by 11,500 strike price, which holds 17.78 lakh contracts in OI; and 11,800 strike price, which has accumulated 15.45 lakh contracts in OI.
Put writing was seen at the 11,900 strike price, which added 1.56 lakh contracts, followed by 11,600 strike that added 1.01 lakh contracts and 11,700 strike that added 92,775 contracts.
Put unwinding was seen at the 11,500 strike price, which shed 1.29 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
17 stocks saw long buildup
14 stocks witnessed short-covering
As per available data, 14 stocks witnessed short-covering. A decrease in open interest, along with an increase in price, mostly indicates a short covering. Based on the lowest open interest (OI) future percentage point, here are the top 10 stocks in which short-covering was seen.
69 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.
51 stocks saw long unwinding
Based on the lowest open interest (OI) future percentage point, here are the top 10 stocks in which long unwinding was seen.
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Upcoming analyst or board meetings/briefings
Centrum Capital - board meeting on November 13 to consider and approve the proposal of raising of funds by way of issue of non-convertible debentures.
Reliance Power- board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019.
Suzlon Energy - board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019.
Sasken Technologies - board meeting on November 14 to consider dividend and other business matters.
Prabhat Dairy - board meeting on November 14 to consider and approve the unaudited financial results for the quarter and half year ended September 30, 2019.
Future Lifestyle Fashion - board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019.
Stocks in news
Results on November 11: Britannia Industries, Coal India, Hindalco Industries, Aban Offshore, Adani Ports, India Cements, Alkem Laboratories, Atul Auto, Balmer Lawrie, Balrampur Chini Mills, Dhampur Sugar Mills, Bombay Dyeing, Hindustan Aeronautics, Mahanagar Gas, Motherson Sumi Systems, NDTV, Omax Autos, Rolta, SJVN
Aditya Birla Capital Q2: Net profit up 37 percent at Rs 256 crore versus Rs 186 crore, revenue up 8 percent at Rs 4,299 crore versus Rs 3,978 crore, YoY.
Lupin receives USFDA approval for Zileuton Extended-release tablets.
IDBI Bank Q2: Net loss at Rs 3,458.8 crore versus loss of Rs 3,602.5, NII up 25.4 percent at Rs 1,631.4 crore versus Rs 1,301 crore, YoY.
Ashok Leyland Q2: Net profit down 92.6 percent at Rs 38.9 crore versus Rs 527.7 crore, revenue down 48.4 percent at Rs 3,929.5 crore versus Rs 7,621.1 crore, YoY.
Essel Propack appoints Parag Shah as the chief financial officer of the company w.e.f. November 25, 2019.
FII & DII data
Foreign institutional investors (FIIs) bought shares worth Rs 932.2 crore, while domestic institutional investors (DIIs) sold shares worth Rs 584.48 crore in the Indian equity market on November 8, as per provisional data available on the NSE.
No stock under ban period on NSE
For November 11, no stock is under F&O ban.In the F&O segment, companies in which the security has crossed 95 percent of the market-wide position limit are put under a ban for a certain period.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.