The market traded rangebound with a positive bias on August 19, but extended gains for the third straight day. The Nifty closed above 11,400 for first time since February and the Sensex gained 86.47 points to close at 38,614.79, driven by banking and financial stocks.
The Nifty climbed to a new swing high of 11,460.35 in early trade and then remained rangebound for the entire session, before signing off with a 23-point gain at 11,408.40. It formed a bearish candle on the daily charts as the closing was lower than opening levels.
"One may expect further upside in the market in the short term, but the narrow range, with a positive bias, is expected to continue in coming sessions," Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol.
"There is a possibility of the Nifty touching 11,550-11,600 levels in the next few sessions, before showing another round of profit booking from the highs. Immediate support is placed at 11,375-11,350 levels," he said.
The broader markets stayed positive as the Nifty Midcap and Smallcap indices were up 0.6 percent and 1.24 percent, respectively.
Ajit Mishra, VP-Research at Religare Broking, sees rotational buying on the sectoral front with almost all sectors contributing to the move. "However, the decisiveness is still missing and thus we suggest traders to choose their bets wisely," he added.
We have collated 15 data points to help you spot profitable trades:
Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three-month data and not of the current month only.
This is followed by 12,000, which holds 17.52 lakh contracts, and 11,800 strikes, which has accumulated 15.71 lakh contracts.
Call writing was seen at 11,800, which added 3.99 lakh contracts, followed by 12,000, which added 2.72 lakh contracts, and 11,700 strikes, which added 2.31 lakh contracts.
Call unwinding was seen at 11,200, which shed 1.55 lakh contracts, followed by 11,300 strikes, which shed 1.47 lakh contracts.
Put option data
This is followed by 11,200, which holds 23.03 lakh contracts, and 11,100 strikes, which has accumulated 22.71 lakh contracts.
Put writing was seen at 10,700, which added 4.14 lakh contracts, followed by 11,400, which added 3.98 lakh contracts, 10,800, which added 2.47 lakh contracts, and 11,100 strikes, which added 2.1 lakh contracts.
Put unwinding was witnessed at 11,200, which shed 1.86 lakh contracts, followed by 11,000 strikes, which shed 81,900 contracts.
Stocks with a high delivery percentage
44 stocks saw long build-up
GSS Infotech: Rao Marepally Raghunadha Rao acquired 7.5 lakh shares in company at Rs 22.23 per share. Elara India Opportunities Fund sold 98,118 shares in company at Rs 21.04 per share, Ambika Kapur 6,47,334 shares at Rs 22.06 per share, Nomura Singapore 7 lakh shares at Rs 21.33 per share and Sumant Kapur 2,14,420 shares at Rs 22.02 per share.
Satin Creditcare RE: Trishashna Holdings & Investments acquired 2,98,793 Rights Entitlement shares in company at Rs 19.42 per share.
Dolat Investments: Chandresh Popatlal Shah sold 11,64,828 shares in company at Rs 57 per share.
Suumaya Lifestyle: Nitu Trading Company sold 1.84 lakh shares in company at Rs 31 per share.
(For more bulk deals, click here)Results on August 20
L&T Finance Holdings: Board approved raising up to Rs 200 crore via non-convertible debentures.
Sobha: Promoter group Ravi PNC Menon and persons acting in consort (PACs) raised stake in company to 3.28 percent from 3.27 percent earlier.
Ramky Infrastructure: Q1 loss at Rs 61.96 crore versus loss at Rs 5.77 crore, revenue at Rs 238 crore versus Rs 546.67 crore YoY.
Ruchi Soya Industries: Q1 profit at Rs 12.3 crore versus Rs 14.01 crore, revenue at Rs 3,043 crore versus Rs 3,112.3 crore YoY.
Sunflag Iron & Steel: Veena Ravi Bhushan Bhardwaj, part of promoter group, acquired 10,62,050 equity shares in the company, increasing stake to 1.99 percent.
PNB Housing Finance: Board approved raising up to Rs 1,800 crore equity capital.Fund Flow