Key support level is placed at 7,896.15, followed by 7,474.45. If the index moves upward, key resistance levels to watch out for are 8,558.15 and 8,798.45.
Powered by short-covering, benchmark indices on March 25 surged nearly 7 percent.
Sensex jumped 2,116 points while Nifty topped 8,376 in intraday trade.
Eventually, Sensex closed 1,862 points, or 6.98 percent up at 28,535.78 and Nifty rose 517 points, or 6.62 percent, to settle at 8,317.85.
BSE Midcap and Smallcap indices underperformed the benchmarks, ending 3.53 percent and 2.84 percent higher, respectively, at that time.
Among the sectoral indices, the BSE Energy index surged over 10 percent while the Bankex and Finance indices jumped 9 percent. All sectoral indices ended in the green."It seems Nifty has stabilised above the level of 8,000 ahead of the F&O expiry. Although FIIs are selling in the cash segment, they took buying positions in derivatives on March 24 and that helped the market to close higher on March 25. The market may stay between 8,000 and 8,600 levels,” said Shrikant Chouhan, Executive Vice President, Equity Technical
Research at Kotak Securities.
We have collated 14 data points to help you spot profitable trades:
Note: The OI and volume data of stocks given in this story are the aggregates of the three-months data and not of the current month only.
Key support and resistance level for Nifty
According to the pivot charts, the key support level is placed at 7,896.15, followed by 7,474.45. If the index moves upward, key resistance levels to watch out for are 8,558.15 and 8,798.45.
The Nifty Bank index closed at 18,481.05, up 8.03 percent. The important pivot level, which will act as crucial support for the index, is placed at 17,164.33, followed by 15,847.57. On the upside, key resistance levels are placed at 19,269.03 and 20,056.96.
Call options data
Maximum Call Open Interest (OI) of 13.72 lakh contracts was seen at the 8,500 strike price. It will act as a crucial resistance level for the March series.
This is followed by 8,000 strike price, which now holds 6.31 lakh contracts in open interest, and 8,800, which has accumulated 5.9 lakh contracts in open interest.
Call writing was seen at the 8,800 strike price, which added 3.32 lakh contracts, followed by 8,600 strike price, which added 2.10 lakh contracts.
Call Unwinding was seen at 8,000 strike price, which shed nearly 5 lakh contracts, followed by 8,100 strike, which shed 1.03 lakh contracts.
Put options data
Maximum Put Open Interest of 13.57 lakh contracts was seen at 8,000 strike price, which will act as crucial support in the March series.
This is followed by 8,100 strike price, which now holds 11.51 lakh contracts in Open Interest, and 8,500 strike price, which has accumulated 9.55 lakh contracts in open interest.
Put writing was seen at the 8,000 strike price, which added 4.3 lakh contracts, followed by 8,200 strike, which added 3.45 lakh contracts.
A minor put unwinding was seen at the 8,700 strike price, which shed 15,225 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are accepting delivery of the stock, which means they are bullish on it.
37 stocks saw a long build-up
Based on open interest (OI) future percentage, here are the top 10 stocks in which long build-up was seen.
20 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
12 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.
76 stocks saw 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.
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Gokul Agro Resources: The board will meet on March 26 to consider and approve the preferential issue of shares.
NACL Industries: The board will meet on March 26 to consider and approve the interim dividend.
The respective boards of Yes Bank, Transcorp International, Terrascope Ventures, Teesta Agro Industries, Proaim Enterprises, Prismx Global Ventures and Goenka Diamond & Jewels will meet on March 26 for general purposes.
Stocks in news
Kolte-Patil Developers: Company announced the shutdown of offices and project sites due to coronavirus outbreak.
Cummins India: Company announced the temporary suspension of offices and plants across India due to COVID-19.
Triveni Engg: Company announced the suspension of manufacturing operations due to COVID-19.
Mangalam Organics: Company terminated its alliance with France-based Les Dérivés Résiniques et Terpéniques.
Balkrishna Industries: Company closed offices and manufacturing plans due to COVID-19.
NTPC: Company added 2nd unit of 660 MW of Khargone Super Thermal Power Project to installed capacity.
LT Foods: CRISIL reaffirmed long term rating at A- and revised outlook on long term loans to stable.
Endurance Tech: Company temporarily closed operations in India and Italy due to the COVID-19 outbreak.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 1,893.36 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 737.98 crore in the Indian equity market on March 25, provisional data available on the NSE showed.
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