Headline indices Sensex and Nifty resumed their downward march on April 8, tracking weak global cues amid rising uncertainty and worries over the coronavirus pandemic.
The Indian market remained on the volatile track and gave up all gains of the morning session, following a negative opening in the European markets.
Sensex ended 173 points, or 0.58 percent, lower at 29,893.96 while Nifty settled 43 points, or 0.49 percent, down at 8,748.75.
BSE Midcap and Smallcap indices outperformed the benchmark Sensex, closing with strong gains of 1.90 percent and 1.86 percent, respectively.
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 8,557.87, followed by 8,366.98. If the index starts moving up, key resistance levels to watch out for are 9,035.67 and 9,322.58.
Nifty Bank closed 0.61 percent down at 18,946.45. The important pivot level, which will act as crucial support for the index, is placed at 18,178.17, followed by 17,409.93. On the upside, key resistance levels are placed at 20,019.37 and 21,092.33.
Call options data
Maximum call open interest (OI) of 15.42 lakh contracts was seen at the 9,000 strike price. It will act as a crucial resistance level in the April series.
This is followed by 8,500 strike price, which holds 8.7 lakh contracts in open interest, and 9,200, which has accumulated 2.14 lakh contracts in open interest.
Call writing was seen at the 9,100 strike price, which added 41,775 contracts, followed by 9,000 strike price that added 30,975 contracts.
A minor call unwinding was witnessed at 8,400 strike price, which shed 48,075 contracts, followed by 8,700 strike price which shed 44,400 contracts.
Put options data
Maximum put open interest of 14.23 lakh contracts was seen at 9,000 strike price, which will act as crucial support in the April series.
This is followed by 8,500 strike price, which holds 14.20 lakh contracts in open interest, and 8,700 strike price, which has accumulated 2.6 lakh contracts in open interest.
Put writing was seen at the 9,000 strike price, which added 98,850 contracts, followed by 8,800 strike, which added 86,100 contracts.
Put unwinding was seen at 8,200 strike price, which shed 10,200 contracts, followed by 8,400 strike price which shed 8,250 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
26 stocks saw long build-up
Based on open interest (OI) future percentage, here are the top 10 stocks in which long build-up was seen.
36 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
33 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.
49 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on open interest (OI) future percentage, here are the top 10 stocks in which short-covering was seen.
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Polyplex Corp: The board will meet on April 9 to consider buyback of shares.
OnMobile Global: The board will meet on April 9 to consider buyback of shares.
Gulf Oil Lubricants India: The board will meet on April 9 to consider and approve interim dividend.
Larsen & Toubro: The board will meet on April 9 for general purposes.
Jump Networks: The board will meet on April 9 for general purposes.
Stocks in the news
SBI Life Insurance: Board appoints Mahesh Kumar Sharma as Deputy Chief Executive Officer.
IDBI Bank: Board approved in principle proposal to sell stake in IDBI Federal Life Insurance Company to extent of 23-27 percent.
Manali Petrochemicals: Company recommenced production of Propylene Oxide, feedstock for Propylene Glycol which is a pharmaceutical input, on April 7 at Plant 1.
NLC India: Company resumed mining operations of Neyveli Mines.
Music Broadcast: Qualified institutional buyer bought 4.42 percent stake during Q4FY20.
GRM Overseas: Company restarted its plant operation on April 8.
FII and DII data
Foreign institutional investors (FIIs) bought shares worth Rs 1,943.41 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 1,757.79 crore in the Indian equity market on April 8, provisional data available on the NSE showed.
Stock under F&O ban on NSE
No security is under the F&O ban for April 9. 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.