Experiencing bouts of volatility, the Indian benchmarks closed in the green on May 6, following gains in other Asian markets.
The Nifty, which failed to hold on to the crucial 9,300 level, bounced back after hitting an intraday low of 9,116 to end above 9,250. The Sensex also witnessed an intraday swing of more than 800 points.
The Sensex closed the day with a gain of 232 points, or 0.74 percent, at 31,685.75 and the Nifty settled 65 points, or 0.71 percent, higher at 9,270.90.
"We feel it is just a breather after the recent slide and the bias would remain on the negative side till Nifty trades below 9,700 zone. On the downside, we are eyeing 8,900-9,000 zone to be tested shortly. Traders should focus more on position management as we are seeing erratic swings across the board," said Ajit Mishra, VP - Research, Religare Broking.
We have collated 15 data points to help you spot profitable trades:
Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three months data and not of the current month only.Key support and resistance level for Nifty
According to pivot charts, the key support level for Nifty is placed at 9,142.63, followed by 9,014.37. If the index continues moving up, key resistance levels to watch out for are 9,373.03 and 9,475.17.Nifty Bank
The Nifty Bank closed 2.19 percent higher at 19,694.55. The important pivot level, which will act as crucial support for the index, is placed at 19,154.87, followed by 18,615.13. On the upside, key resistance levels are placed at 20,020.47 and 20,346.33.
Maximum call OI of 12.58 lakh contracts was seen at the 9,500 strike. It will act as crucial resistance in the May series.
This is followed by 9,000, which holds 5.35 lakh contracts, and 9,800 strikes, which has accumulated 3.67 lakh contracts.
Significant call writing was seen at the 9,300, which added 76,800 contracts, followed by 9,200 strikes that added 61,425 contracts.
Call unwinding was witnessed at 9,400 strike, which shed 5,550 contracts.
Put option data
Maximum put OI of 24.47 lakh contracts was seen at 9,000 strike, which will act as crucial support in the May series.
This is followed by 9,500, which holds 11.97 lakh contracts, and 9,200 strikes, which has accumulated 5.53 lakh contracts.
Significant put writing was seen at 9,100, which added 1.34 lakh contracts, followed by 9,200 strikes, which added 74,250 contracts.
Put unwinding was seen at 9,400, which shed 53,400 contracts, followed by 9,600 strikes that shed 16,500 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
76 stocks saw long build-up
Based on the OI future percentage, here are the top 10 stocks in which long build-up was seen.
7 stocks saw long unwinding
28 stocks saw short build-up
An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions. Based on OI future percentage, here are the top 10 stocks in which short build-up was seen.
34 stocks witnessed short-covering
A decrease in OI, along with an increase in price, mostly indicates a short-covering. Based on OI future percentage, here are the top 10 stocks in which short-covering was seen.
Supreme Petrochem: Company itself acquired 10,68,000 shares at Rs 163.8 per share.
JM Financial Q4: Profit rose to Rs 130.56 crore versus Rs 128.64 crore, revenue increased to Rs 835.9 crore versus Rs 783.9 crore YoY.
Eicher Motors: Company appointed Kaleeswaran Arunachalam as the Chief Financial Officer.
Maruti Suzuki India would re-start the production of vehicles at its Manesar plant from May 12.
Minda Industries: Commercial paper of Rs 30 crore with the maturity date of May 5 has been redeemed.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 493.68 crore, while domestic institutional investors (DIIs) bought shares worth Rs 322.47 crore in the Indian equity market on May 6, provisional data available on the NSE showed.Stock under F&O ban on NSENo security is under the F&O ban for May 7. 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.