The key support level for Nifty is placed at 8,779.2, followed by 8,633.1. If the index starts moving up, key resistance levels to watch out for are 9,166.3 and 9,407.3.
Benchmark indices failed to hold on to gains and closed in the red on April 15.
Sensex closed 310 points, or 1.01 percent, down at 30,379.81 while Nifty finished 69 points, or 0.76 percent, lower at 8,925.30.
The broader markets outperformed as BSE Midcap and Smallcap indices ended higher by 1.3 percent and 1.2 percent, respectively.
The sectoral indices witnessed a mixed trend wherein FMCG, Realty, Capital Goods and Metals ended with gains whereas other indices like Auto, Banking, Finance and Consumer Durables ended with losses.
"We reiterate our cautious view on Indian markets and suggest not to go overboard during this recovery move. Domestic factors such as a sharp surge in the coronavirus cases and extension of the lockdown will continue to weigh on investors’ sentiment ahead," said Ajit Mishra, VP - Research, Religare Broking.
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 8,779.2, followed by 8,633.1. If the index starts moving up, key resistance levels to watch out for are 9,166.3 and 9,407.3.
Nifty Bank closed 2.21 percent down at 19,057.05. The important pivot level, which will act as crucial support for the index, is placed at 18,494.57, followed by 17,932.04. On the upside, key resistance levels are placed at 19,901.87 and 20,746.63.
Call options data
Maximum call open interest (OI) of 15.29 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 6.93 lakh contracts in open interest, and 9,200, which has accumulated 3.05 lakh contracts in open interest.
Significant call writing was seen at the 9,200 strike price, which added 88,950 contracts, followed by 9,300 strike price that added 30,225 contracts.
Call unwinding was witnessed at 9,000 strike price, which shed 90,450 contracts.
Put options data
Maximum put open interest of 19.31 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 18.27 lakh contracts in open interest, and 8,800 strike price, which has accumulated 4.24 lakh contracts in open interest.
Put writing was seen at the 9,000 strike price, which added 2.07 lakh contracts, followed by 8,500 strike, which added 64,200 contracts.
No put unwinding was seen on April 15.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
35 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.
30 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
37 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.
41 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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Motherson Sumi Systems: The board will meet on April 16 for general purposes.
TCNS Clothing: The board will meet on April 16 for general purposes.
Stocks in the news
Wipro: Software services provider, Wipro, has reported a 6.3 percent year-on-year (YoY) fall in its consolidated profit at Rs 2,326.1 crore for the quarter ended March 2020.
TCS: The IT major will release its March quarter scorecard on April 16. Industry experts and brokerages expect the IT major to release a subdued set of numbers. The estimates of Kotak Institutional Equities show TCS' CC (constant currency) revenue growth of 0.6 percent QoQ and 4.9 percent YoY.
Bajaj Auto: The company has proposed a 10 percent pay cut for factory employees if production does no resume on April 21.
India Cements: CARE has revised ratings on the company's long-term bank facilities and non-convertible debentures as 'CARE A-' from 'CARE A'. The outlook remained 'stable'. On the short-term bank facilities, the revised rating is 'CARE A2+' from 'CARE A1' earlier.
Essel Propack: The company has appointed Sudhanshu Vats as Managing Director & CEO of the company w.e.f. April 16, 2020.
JSW Energy: Brickwork Ratings India has reaffirmed its ratings of 'BWR A1+' on commercial papers of the company.
Seshasayee Paper: The collector of Namakkal District has given permission to the company to recommence its operations at Erode unit.
FII and DII data
Foreign institutional investors (FIIs) bought shares worth Rs 1,358.66 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 1,097.86 crore in the Indian equity market on April 15, provisional data available on the NSE showed.
Stock under F&O ban on NSE
No security is under the F&O ban for April 16. 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.