The government's latest infra push failed to propel benchmark indices Sensex and Nifty as they logged minor gains on the first trading session of 2020.
Sensex rose 52.28 points to end at 41,306.02 while Nifty closed 14 points up at 12,182.50, forming a 'Spinning Top' formation on the daily charts.
"The short term trend of Nifty is rangebound with weak bias. The overall chart pattern indicates similar market action for the next sessions. Lack of sharp follow-through weakness could prompt bulls to make a comeback from the lower supports. Important cluster support is placed at 12,100 levels," Nagaraj Shetti – Technical & Derivative Analyst, HDFC Securities, told Moneycontrol.
The broader markets continued to outperform frontliners for the fifth consecutive session. About three shares advanced for every two shares declining on the NSE.
The Nifty Midcap index gained 0.24 percent and Smallcap index rose 0.71 percent.
"Going ahead, markets are likely to remain in a narrow range due to mixed cues. While global markets will resume from their year-end holidays, Indian markets would be looking ahead for the December quarterly results and any significant developments from the government before the Union Budget," said Siddhartha Khemka, Head - Retail Research at Motilal Oswal Financial Services.
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 Nifty is placed at 12,157.8, followed by 12,133.1. If the index continues moving up, key resistance levels to watch out for are 12,214.7 and 12,246.9.
Nifty Bank
Nifty Bank fell 0.18 percent to close at 32,102.90. The important pivot level, which will act as crucial support for the index, is placed at 31,990.73, followed by 31,878.57. On the upside, key resistance levels are placed at 32,281.54 and 32,460.17.
Call options data
Maximum Call open interest (OI) of 23.20 lakh contracts was seen at the 12,500 strike price. It will act as a crucial resistance level in the January series.
This is followed by 12,200 strike price, which holds 16.39 lakh contracts in open interest, and 12,300, which has accumulated 15.80 lakh contracts in open interest.
Significant call writing was seen at the 12,600 strike, which added 1.8 lakh contracts, followed by 12,300 strike price that added 1.33 lakh contracts and 12,500 strike which added 1.26 lakh contracts.
Call unwinding was witnessed at 12,700 strike price, which shed 0.59 lakh contracts, followed by 12,800 strike which shed 0.41 lakh contracts.
Put options data
Maximum Put open interest of 35.41 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the January series.
This is followed by 11,500 strike price, which holds 23.66 lakh contracts in open interest, and 12,200 strike price, which has accumulated 17.95 lakh contracts in open interest.
Put writing was seen at the 12,100 strike price, which added 2.37 lakh contracts, followed by 12,200 strike, which added 1.19 lakh contracts and 12,000, which added 0.88 lakh contracts.
Maximum Put unwinding was seen at the 11,500 strike, which shed 0.16 lakh contracts, followed by 12,400 strike, which shed 0.02 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
30 stocks saw Long Buildup
Based on open interest (OI) future percentage, here are the top 10 stocks in which long buildup was seen.
39 stocks saw Long Unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
41 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.
34 stocks witnessed short-covering
As per available data, 10 stocks witnessed short-covering on December 31. A decrease in open interest, along with an increase in price, mostly indicates a short covering.
Bulk deals
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Upcoming analyst or board meetings/briefings
Can Fin Homes: Board meeting is scheduled on January 20 to consider October-December quarter earnings.
Stocks in the news
Tata Motors: December sales dropped 13.8 percent to 46,903 vehicles against 54,439 units during December 2018.
Eicher Motors: VECV December sales dipped 19.1 percent to 5,042 units against 6,236 units during December 2018.
JBM Auto: The merger of JBM Auto System and JBM MA Automotive with the company is effective on January 1.
Dhanlaxmi Bank: CARE reaffirmed ratings of the unsecured, non-convertible, redeemable bonds issued by the bank.
Prakash Industries: Company secured allocation of long-term coal linkages of 1.69 lakh MT per annum for the next 5 years for its 5th sponge iron kiln.
Abans Enterprises: Company completed the acquisition of 100 percent equity stake in LifeSurge BioSciences for consideration in cash.
Bajaj Steel Industries: CRISIL reaffirmed long-term rating on company's bank loan facilities at BBB, but revised outlook to positive from stable.
Muthoot Capital Services: Company completed a securitization transaction of Rs 145.37 crore on December 31.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 58.87 crore, whereas domestic institutional investors (DIIs) bought shares of worth Rs 208.47 crore in the Indian equity market on January 1, provisional data available on the NSE showed.
Fund flow
One stock under F&O ban on NSE
Yes Bank is under the F&O ban for January 2, 2020. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.
