Indian equities continued to be swept by the selloff wave on March 18 with the benchmark indices closing at a fresh 3-year low.
The Sensex plunged 1,710 points to clsoe at 28,869.51 while Nifty fell 498 points to end at 8,468.80.
"Technically, Nifty has broken 8,555 level, which is the previous lowest support level. Closing below the same has now opened the levels of 8,200, 8,150 and 7,890 for the index. The level of 7,890 has special importance. After the episode of demonetisation of the Indian currency, the market found a final breather at 7,894. We feel it could act as a major support for the market,” said Shrikant Chouhan, Senior Vice-President, Equity Technical Research, Kotak Securities.
We have collated 15 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 for Nifty is placed at 8208.05, followed by 7947.3. If the index moves up, key resistance levels to watch out for are 8928.55 and 9388.3.
Nifty Bank closed 7.11 percent down at 20,580.20. The important pivot level, which will act as crucial support for the index, is placed at 19717.37, followed by 18854.53. On the upside, key resistance levels are placed at 21993.56 and 23406.93.
Call options data
Maximum call open interest (OI) of 8.10 lakh contracts was seen at the 9,000 strike price. It will act as a crucial resistance level in the March series.
This is followed by 8,500 strike price, which holds 5.72 lakh contracts in open interest, and 8,000, which has accumulated 1.72 lakh contracts in open interest.
Significant call writing was seen at the 8,500 strike price, which added 2.9 lakh contracts, followed by 9,000 strike price that added 1.9 lakh contracts.
Call unwinding was witnessed at 8,100 strike which shed 24,900 contracts, followed by 8,300 strike which shed 12,300 contracts.
Put options data
Maximum put open interest of 20.22 lakh contracts was seen at 8,500 strike price, which will act as crucial support in the March series.
This is followed by 9,000 strike price, which holds 18.85 lakh contracts in open interest, and 8,100 strike price, which has accumulated 18.5 lakh contracts in open interest.
Put writing was seen at the 8,000 strike price, which added 2 lakh contracts.
Put unwinding was seen at 9,000 strike price, which shed 1.93 lakh contracts, followed by 8,500 strike price which shed 1.51 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
10 stocks saw long build-up
79 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
45 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.
10 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering.
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AGI Infra: The board will meet on March 19 to consider and approve the interim dividend.
Amber Enterprises India: The board will meet on March 19 to consider and approve quarterly results.
City Union Bank: The board will meet on March 19 to consider and approve the interim dividend.
Emami: The board will meet on March 19 to consider and approve the interim dividend and buyback of shares.
NTPC: The board will meet on March 19 to consider and approve the interim dividend.
Sobha: The board will meet on March 19 for general purposes.
Manappuram Finance: The board will meet on March 19 for general purposes.
Stocks in news
VST Tillers Tractors: February power tillers sales dropped to 1,361 units from 1,495 units YoY, tractors sales fell to 564 units from 581 units.
Karur Vysya Bank: Lender enters into precious metals business.
Alphageo (India): Company received Rs 76.67 crore contract from Oil India for 2D and 3D seismic data acquisition and processing services in Oil's OALP areas of Mahanadi Basin, Odisha.
Navneet Education: Company issued commercial paper of Rs 50 crore to Mahindra Liquid Fund and Mahindra Ultra Short Term Yojana.
NLC India: Board approved the issuance of commercial paper up to Rs 6,000 crore in tranches and issuance of bonds in the nature of debentures up to Rs 5,000 crore in tranches.
Wipro: Company launched Microsoft business unit for digital transformation solutions.
Srikalahasthi Pipes: Commercial operations of 2nd furnace of 9 MVA to produce Ferro Silicon has commenced.
Vakrangee: RBI renews the authorization issued to Vakrangee for white label ATMs till March 31, 2021.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 5,085.35 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 3,636.44 crore in the Indian equity market on March 18, provisional data available on the NSE showed.
Stock under F&O ban on NSEThere is no stock under the F&O ban for March 19. 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.