The market ended higher after a volatile session on November 6 with Sensex hitting a fresh record high and Nifty reclaiming the 12,000 level intraday for the first time since June 11. The indices failed to hold those levels though.
At close, the Sensex was up 221.55 points at 40,469.78, while Nifty was up 48.80 points at 11,966.
Among sectors, some selling was seen in the PSU bank, infra and energy stocks, while buying was seen in the pharma, metal and IT stocks.
"We continue to maintain our cautious stance on the Indian markets in the absence of any positive domestic as well as global triggers. With indices trading at record highs, some profit-taking cannot be ruled out in the near term," said Ajit Mishra Vice President, Research, Religare Broking.
"Market participants would keep a close watch on the on-going corporate earnings, global developments and movement in crude and currency, as it would induce some volatility in the markets," he added.
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 the Nifty is placed at 11,876.5, followed by 11,787. If the index starts moving up, key resistance levels to watch out for are 12,029.2 and 12,092.4.
Nifty Bank gained 389.75 points at 30,609.60 on November 6. The important pivot level, which will act as crucial support for the index, is placed at 30,182.53, followed by 29,755.46. On the upside, key resistance levels are placed at 30,867.83 and 31,126.07.
Call options data
Maximum call open interest (OI) of 17.96 lakh contracts was seen at 12,000 strike price. It will act as a crucial resistance level in the November series.
This is followed by 11,800 strike price, which holds 15.52 lakh contracts in open interest; and 12,500, which has accumulated 11.45 lakh contracts in open interest.
Call writing was seen at the 12,400 strike price, which added 1.98 lakh contracts, followed by 12,500 strike that added 1.23 contracts.
No major Call unwinding was seen.
Put options data
Maximum put open interest (OI) of 19.05 lakh contracts was seen at 11,600 strike price, which will act as crucial support in November series.
This is followed by 11,500 strike price, which holds 17.34 lakh contracts in OI; and 11,800 strike price, which has accumulated 14.25 lakh contracts in OI.
Put writing was seen at the 12,000 strike price, which added 1.56 lakh contracts, followed by 11,500 strike that added 1.02 lakh contracts and 11,800 strike that added 97,575 contracts.
No major Put unwinding was seen.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
50 stocks saw long buildup
45 stocks witnessed short-covering
As per available data, 45 stocks witnessed short-covering. A decrease in open interest, along with an increase in price, mostly indicates a short covering. Based on the lowest open interest (OI) future percentage point, here are the top 10 stocks in which short-covering was seen.
35 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.
19 stocks saw long unwinding
Based on the lowest open interest (OI) future percentage point, here are the top 10 stocks in which long unwinding was seen.
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Upcoming analyst or board meetings/briefings
PC Jeweller - board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019
Mawana Sugars - board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019
Reliance Communications - board meeting on November 12 to consider and approve the financial results for the period ended September 30, 2019
Dish TV- board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019
Sharon Bio-Medicine - board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019
Seamec - board meeting on November 13 to consider and approve the financial results for the period ended September 30, 2019
Stocks in news
Results on November 7: Sun Pharma, BPCL, DLF, HPCL, IGL, Aditya Birla Capital, Adani Transmission, Ajmera Realty, Andhra Bank, Gujarat Alkalies, Indowind Energy, Ipca Laboratories, Max India, Power Grid, United Breweries, UCO Bank, UPL, Wockhardt
Emami Q2: Consolidated net profit up 16.4% at Rs 96 crore versus Rs 82.4 crore, revenue was up 5.1% at Rs 660.1 crore against Rs 628.2 crore, YoY
Schneider Electric Q2: Net loss at Rs 23.9 crore versus loss of Rs 27.2 crore, revenue down 1.6% at Rs 314 crore versus Rs 319 crore, YoY
JB Chemical board to consider share buyback on November 12
Canara Bank revised the marginal cost of funds based lending rate (MCLR) of with effect from 07.11.2019
Prakash Industries emerges as the highest bidder for Bhaskarpara coal mine
Max Financial Services Q2: Consolidated net profit down 49% at Rs 42.2 crore versus Rs 82.7 crore, revenue up 8.6% at Rs 4,686 crore versus Rs 4,315 crore, YoY
Yes Bank: Moody's placed bank's ratings under review for downgrade.
Tata Steel: Q2 consolidated profit rises 6 percent to Rs 3,302.3 crore versus Rs 3,116 crore, revenue dips 15.4 percent to Rs 34,579.2 crore versus Rs 40,897 crore YoY.
Zee Entertainment: Singapore-based GIC acquired additional 0.34 percent equity via open market on November 4.
PNB Gilts: Board approves raising up to Rs 500 crore via commercial papers.
Voltas: Q2 consolidated profit rises 0.3 percent to Rs 107.3 crore versus Rs 107 crore, revenue increases to Rs 1,421.9 crore versus Rs 1,421.4 crore YoY.
Max Financial Services: Company and Mitsui have mutually agreed to terminate the proposed share transaction.
Somany Ceramics: Q2 profit increases 41.7 percent to Rs 6.5 crore versus Rs 4.6 crore, revenue up 7.9 percent at Rs 422.2 crore versus Rs 391.4 crore YoY.
Indiabulls Housing Finance: Q2 consolidated profit dips 11.5 percent to Rs 709.5 crore versus Rs 801.5 crore, revenue drops 12 percent to Rs 3,419.5 crore versus Rs 3,885 crore QoQ.
Indiabulls Housing Finance: Board approved fund raising of up to $1 billion via equity issuance.
Prakash Industries: Q2 profit dips 72.5 percent to Rs 33.1 crore versus Rs 120.2 crore, revenue declines 12.1 percent to Rs 762.3 crore versus Rs 867.6 crore YoY.
Manappuram Finance: Board approved raising up to $750 million.
Max Financial Services: Company and Mitsui have mutually agreed to terminate the proposed share transactionm, but both will continue their existing JV arrangements on Max Life Insurance.
V-Guard: Q2 consolidated profit jumps 54.6 percent to Rs 58.7 crore versus Rs 38 crore, revenue rises 3.1 percent to Rs 623.3 crore versus Rs 604.5 crore YoY.FM Sitharaman:
SBI Cap will manage the real estate AIF initially through an escrow account.
Projects can be NPAs/incomplete to be eligible, but not marked for liquidation by NCLT
Projects must be net worth positive to avail funds, percentage of completion not a criteria
RBI to soon issue clarificatory note on realty fund
FII & DII data
Foreign institutional investors (FIIs) bought shares worth Rs 1,011.49 crore, while domestic institutional investors (DIIs) sold shares worth Rs 1117.25 crore in the Indian equity market on November 6, as per provisional data available on the NSE.
No stock under ban period on NSE
For November 7, no stock is under F&O ban.
In the F&O segment, companies in which the security has crossed 95 percent of the market-wide position limit are put under a ban for a certain period.