Nifty closed at 11,691.45 on June 19. According to the Pivot charts, the key support level is placed at 11,610.23, followed by 11,528.97.
Benchmark indices on June 19 ended almost flat on the back of selective buying and selling in equities.
The BSE Sensex gained 66.40 points at 39,112.74 while the Nifty50 ended flat at 11,691.50 and formed bearish candle or 'High Wave' kind of pattern on daily charts.
"There was a bout of volatility near the resistance of 11,800 mark and Nifty failing to sustain above the key overhead resistance of 11,780-11,800 levels today could open up chances of further weakness in the market ahead," Nagaraj Shetti, Technical Research Analyst, HDFC Securities, told Moneycontrol.
He said further decisive decline below the immediate support of 11,650 could result in Nifty filling the previous opening upside gap of May 20 around 11,425 levels, in the near-term.
Shabbir Kayyumi, Head of Technical Research at Narnolia Financial Advisors, said RSI divergence while formation of double bottom indicates short term bottom placed on lower time frame; however confirmation will come only above 11,790 levels.
The Nifty Midcap index was down a percent and Smallcap index fell 1.8 percent as breadth was in favour of bears. About five shares declined for every two shares rising on the NSE.
The sectoral trend was mixed with Nifty Auto index falling a percent and Pharma 1.6 percent while Bank index was flat.
We have collated 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
Nifty closed at 11,691.45 on June 19. According to the Pivot charts, the key support level is placed at 11,610.23, followed by 11,528.97. If the index starts moving upward, key resistance levels to watch out are 11,787.63 and 11,883.77.
Nifty Bank closed at 30,362.10, up 11.10 points on June 19. The important Pivot level, which will act as crucial support for the index, is placed at 30,169.66, followed by 29,977.23. On the upside, key resistance levels are placed at 30,626.86, followed by 30,891.63.
Call options data
Maximum Call open interest (OI) of 25.88 lakh contracts was seen at the 12,000 strike price. This will act as a crucial resistance level for the June series.
This is followed by 11,900 strike price, which now holds 19.59 lakh contracts in open interest, and 11,800, which has accumulated 18.86 lakh contracts in open interest.
Significant Call writing was seen at 11,700 strike price that added 2.76 lakh contracts, followed by 11,800 strike price that added 2.59 lakh contracts and 12,000 strike price, which added 0.98 lakh contracts.
Call unwinding was seen at the strike price of 12,200, which shed 1.82 lakh contracts, followed by 12,400 strike that shed 1.35 lakh contracts and 12,100 strike that shed 1.27 lakh contracts.
Put options data
Maximum Put open interest of 27.32 lakh contracts was seen at 11,500 strike price. This will act as a crucial support level for the June series.
This was followed by 11,700 strike price, which now holds 25.22 lakh contracts in open interest and 11,600 strike price, which has now accumulated 19.24 lakh contracts in open interest.
Put writing was seen at the 11,700 strike price, which added 3.06 lakh contracts, followed by 11,200 strike price that added 1.46 lakh contracts and 11,400 strike that added 0.99 lakh contracts.
Put unwinding was seen at the strike price of 11,500, which shed 1.09 lakh contracts, followed by 11,600 strike price that shed 0.54 lakh contracts.
Stocks with a high delivery percentage
High delivery percentage suggests investors are accepting the delivery of the stock, which means that investors are bullish on it.
29 stocks saw a long buildup
30 stocks that saw short covering
A decrease in open interest, along with an increase in price, mostly indicates short covering.
77 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.
60 stocks saw long unwinding
Analyst or Board Meet/Briefings
Pidilite Industries: Annual General Meeting to be held on August 6.
Bombay Cycle & Motor Agency: Board meeting will be held on June 22 to consider declaration of bonus shares.
Manappuram Finance: Company's officials will attend Equirus BFSI Conference on June 20.
Greaves Cotton: Company's officials will interact with analysts/insitutional investors on June 20 and 21.
TVS Motor Company: Company's official will meet Hillhouse Capital on June 24.
Pitti Engineering: Board meeting is scheduled on June 24 to consider and approve allotment of equity shares on conversion of share warrants.
HeidelbergCement India: Company's representative Anil Kumar Sharma, Chief Financial Officer and Amit Angra, Senior General Manager - Finance will be meeting the representatives of C Worldwide Asset Management Fund on June 20 at Gurugram.
Stocks in news
HDFC: Corporation to acquire up to 51.2 percent stake in Apollo Munich Health Insurance Company Limited and then is proposed to be merged with subsidiary HDFC ERGO General Insurance Company.
Bharat Financial Inclusion: IndusInd Bank announced July 4 as the effective date, as well as record date following the effectiveness of the scheme, for determining the shareholders of company who will be entitled to receive shares of the bank.
Bengal & Assam Company: Company alloted equity shares to the shareholders of Florence Investech Limited and J K Fenner (India) Ltd. pursuant to the scheme of arrangement.
Parsvnath Developers: Brickwork Ratings India re-affirmed rating 'B' with change in outlook to 'Credit Watch with Developing Implications', assigned to Rs 360 crore secured non-convertible debentures (Series A) and Rs 244.39 crore Secured Non-Convertible Debentures (Series B) of Parsvnath Rail Land Project Private Limited, a subsidiary company.
Adani Green Energy: Subsidiary Adani Renewable Energy Park (Gujarat) Limited received letters of award for 600 MW wind-solar hybrid power projects from Solar Energy Corporation of India.
Reliance Power: Company gets CERC nod to meet new environment norms at Madhya Pradesh’s Sasan UMPP.
ONGC: ONGC Videsh Ltd, partners agree to invest $20 billion in Mozambique LNG project.
Fund flow picture
FII & DII data
Foreign Institutional Investors (FIIs) sold shares worth net Rs 97.05 crore and Domestic Institutional Investors (DIIs) Rs 104.91 crore worth of shares in the Indian equity market on June 19, as per provisional data available on the NSE.
Five stocks under F&O ban period on NSE
For June 20, DHFL, IDBI Bank, Jet Airways, PC Jeweller and Reliance Infrastructure are under the F&O ban period.
Securities in ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
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