According to Pivot charts, the Nifty's key support level is placed at 10,805, followed by 10,751.8. If the index starts moving upwards, key resistance levels to watch out are 10,950.2 and 11,042.2.
The market fell sharply on Wednesday as traders turned cautious ahead of Monetary Policy Committee's rate decision due on Friday after rupee hitting record lows and crude touching multi-year highs.
The Nifty50 after gap down opening extended losses as the day progressed and broke the 10,900 levels in last hour of trade.
The index closed 150 points lower at 10,858.30 and formed strong bearish candle on the daily charts.
If it doesn't stabilise around its 200-day EMA of 10,785 levels then more selling pressure is likely, experts said.
"Bears appear to have gained upper hand as they sabotaged the good work done by the bulls in the Monday's session before signing off the day with a strong bearish candle which forced the indices to close below 10,900 levels which bulls were defending till now on closing basis," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.
According to him, in forthcoming sessions if Nifty50 doesn't stabilise around its 200-Day EMA of 10,785 levels then traders should prepare themselves to see the index heading towards 10,557 levels.
He said on the upsides bulls will able to revive their chances of coming back provided they manages a close above psychologically important 11,000 levels. "Till then stakes shall remain in favour of bears with chances of Nifty heading towards 10,555 levels."
India VIX moved up by 8.16 percent at 18.21 levels. Volatility is not cooling down which is not giving the relief and suggests a tight bear grip in the market.
We have collated the top 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
The Nifty closed at 10,858.25 on Wednesday. According to Pivot charts, the key support level is placed at 10,805, followed by 10,751.8. If the index starts moving upwards, key resistance levels to watch out are 10,950.2 and 11,042.2.
The Nifty Bank index closed at 25,069.90, down 297.10 points on Wednesday. The important Pivot level, which will act as crucial support for the index, is placed at 24,907.43, followed by 24,744.97. On the upside, key resistance levels are placed at 25,351.23, followed by 25,632.56.
Call Options Data
Maximum Call open interest (OI) of 30.64 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for the October series.
This was followed by the 11,200 strike price, which now holds 28.30 lakh contracts in open interest, and 11,000, which has accumulated 25.96 lakh contracts in open interest.
Call writing was seen at 11,200 strike, which added 5.77 lakh contracts, followed by 11,100 which added 5.17 lakh contracts and 11,000 which added 5.15 lakh contracts.
Highest Call unwinding was seen at the strike price of 11,400 which shed 0.76 lakh contracts.
Put Options data
Maximum Put open interest of 37.62 lakh contracts was seen at the 10,500 strike price. This will act as a crucial support level for the October series.
This was followed by the 10,700 strike price, which now holds 35.20 lakh contracts in open interest, and the 11,000 strike price, which has now accumulated 28.51 lakh contracts in open interest.
Put writing was seen at the strike price of 10,700, which added 9.16 lakh contracts in open interest, followed by 10,500 which added 7.26 lakh contracts and 10,900 strike which added 1.6 lakh contracts.
Put unwinding was seen at the strike price of 10,800, which shed 4.10 lakh contracts in open interest, followed by 11,000 which shed 1.46 lakh contracts and 11,500 which shed 0.66 lakh contracts.
FII & DII data
Foreign institutional investors (FIIs) sold shares worth Rs 1,550.04 crore while domestic institutional investors bought shares worth Rs 1,402.47 crore in the Indian equity market on Wednesday, as per provisional data available on the NSE.
Fund Flow Picture:
Stocks with high delivery percentage
High delivery percentage suggests that investors are accepting delivery of the stock, which means that investors are bullish on it.
25 stocks saw a long buildup
39 stocks saw short covering
A decrease in open interest along with an increase in price mostly indicates short covering.
102 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.
42 stocks saw long unwinding
A2z Infra Engineering: Globe Fincap sold 18,04,448 shares of the company at Rs 9.23 per share.
Infibeam Avenues: The Ezrah Charitable Trust bought 38,82,694 equity shares of the company at Rs 73.99 per share.
(For more bulk deals, click here)
Analyst or Board Meet/Briefings
Lumax Auto Technologies: Officials of the Company will be meeting investors and analysts on October 3rd & 4th, 2018.
Talwalkars Lifestyles: Company will be participating in the Valorem One Conference 2018, organised by Valorem Advisors to be held on October 4.
Commercial Syn Bags: Company will be participating in the Valorem One Conference 2018, organised by Valorem Advisors to be held on October 4.
Shemaroo Entertainment: Company will be participating in the Valorem One Conference 2018, organised by Valorem Advisors to be held on October 4.
Cyient: Board on October 17 to consider unaudited financial results for the quarter and half year ended September 2018 and an interim dividend for the financial year 2018-19, if any.
Mindtree: Board on October 17 to consider unaudited financial results for the quarter and half year ended September 2018 and an interim dividend for the financial year 2018-19, if any.
Dr Reddy's Laboratories: Company to release Q2 FY19 results on October 26 and earnings call is scheduled on same date.
NGL Fine-Chem: Company to release Q2 FY19 results on November 2.
Trident: Company to release Q2 FY19 results on October 15.
Ponni Sugars (Erode): Company to release Q2 FY19 results on October 26.
UltraTech Cement: Company to release Q2 FY19 results on October 19.
Thyrocare Technologies: Krishnakumar, CIO of Sundaram Mutual Fund would be having a concall with company's Chairman & Managing Director, A Velumani on October 5.
Berger Paints India: Company to release Q2 FY19 results on November 1.
Tata Coffee: Company to release Q2 FY19 results on October 25.
India Grid Trust: Company to release Q2 FY19 results on October 18.
Stocks in news
PTC India Financial Services: Board approved appointment of Dr Pawan Singh as Managing Director & CEO of the company and Sanjay Rustagi (Vice- President) as the Chief Financial Officer.
AU Small Finance Bank: CRISIL has upgraded rating of the company to AA-/Stable from A+/Positive.
KDDL: ICRA upgraded long term rating for line of credit to BBB+ from BBB and short term rating for line of credit to A2 from A3+.
IL&FS Transportation Networks: Interest due and payable on October 1, 2018 on the NCDs were not paid to the debenture holders due to insufficient funds.
SRG Housing Finance: Nabsamruddhi Finance sanctioned credit facilities of Rs 12 crore.
KP Energy Q2FY19 Results: Profit jumps to Rs 7.06 crore versus Rs 1.01 crore; revenue rises to Rs 51.25 crore versus Rs 36.71 crore (YoY).
SRF: Company said it had announced capitalisation and commission of the first phase of the project for setting up of Bi-axially Oriented Polypropylene (BOPP) film line in December 2017 and in addition to that capital expenditure on metallizer, infrastructure and certain other items has since been capitalized & commissioned as on September 30, 2018.
GE T&D India: GE has completed the acquisition of Alstom's minority ownership of the three joint ventures (JVs) that were established at closing of the acquisition of Alstom's Power and Grid assets in November 2015. As a result of the transfers, GE paid to Alstom an aggregate amount 2.594 billion euro (around $3.0 billion). These transfers will not have any impact on the day-to-day operations of the businesses.
NLC India: Board meeting will be held on October 9 to consider the matters relating to buy back of fully paid up equity shares of the company.
Indian Hume Pipe: CARE Ratings reaffirmed rating on company's long term bank facilities worth Rs 625 crore to A+/Stable and short term bank facilities worth Rs 215 crore to A1+.
VST Tillers Tractors: Power tillers sales in September 2018 at 1,152 units versus 1,855 units and tractors sales at 801 units versus 1,341 units (YoY).
TVS Motor Company: TVS Apache RTR 160 4V crosses 1 lakh sales milestone in a record span of six months since launch.
Coal India: S Sarkar, GM (Finance) I/C, CIL appointed as CFO of the company.
Amara Raja Batteries: Company and Johnson Controls to bring a new wave of battery technology to India.
Action Construction Equipment: ICRA assigned the rating A1+ to commercial papers worth value of Rs 25 crore.
RattanIndia Infrastructure: Arbutus Consultancy LLP, a promoter group entity of the company will open offer for sale of 11,16,89,400 equity shares on October 4-5. The floor price will be Rs 3.80 per share of the company and a discount of 5 percent on the same is being offered to retail investors.
Tata Power: Tata Power Solar launches an extensive residential rooftop solution in Ajmer, Rajasthan.
Infosys: Moody''s Investor Service assigned A3 rating with stable outlook. Infosys Foundation to build center for handling cybercrime investigation.
Bharti Airtel: Company announced an acquihire deal with AuthMe ID Services, a Bengaluru based start-up focused on Artificial Intelligence based solutions, to add to its initiatives to serve customers with innovative digital products.
GHCL: CARE Ratings reviewed credit ratings of the company for bank facilities and upgraded the same.
Reliance Communications: Telecom Disputes Settlement & Appellate Tribunal (TDSAT) granted relief to the company. Spectrum trading to be completed without bank guarantee of Rs 2,900 crore and company to receive Rs 975 crore from sale of spectrum. Company to pay Ericsson Rs 550 crore and RITL minority investors Rs 230 crore from spectrum trading.
Aditya Birla Capital: International Finance Corporation, a member of the World Bank Group, has extended a 7—year long—term loan of Rs 1,000 crore to Aditya Birla Finance, wholly owned subsidiary of the company.
Orient Tradelink: Company started publicising and selling Merchandising and Spiritual Mantras and have a deal for 10-years with AUM Sportainment Pvt Ltd.
BSE Limited: Company entered into licensing pact with London Metal Exchange.
Oil Marketing Companies (HPCL, BPCL, IOC): RBI liberalises rules for public sector OMCs to borrow overseas - CNBC-TV18.
Minimum support price: Cabinet approves proposal to increase MSP for winter-sown crops.
HDFC: Company earned Rs 787 crore from HDFC AMC IPO in July-September; July-September loans sold at Rs 6,059 crore versus Rs 3,531 crore and dividend income at Rs 6 crore versus Rs 540 crore (YoY) - CNBC-TV18.
Federal Bank: RBI imposes monetary penalty of Rs 5 crore on the bank for multiple violations.
No stock under ban period on NSE
Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.For October 4, not a single stock is present in this list.