According to the pivot charts, the key support level for the Nifty is placed at 11,555.13, followed by 11,506.17.
The market recovered from its lows and ended with moderate gains on October 23 as buying in select PSU banks, IT and auto stocks helped Nifty finish above 11,600 and Sensex above 39,000 level.
BSE midcap and smallcap indices ended with little change.
At close, the Sensex was up 94.99 points at 39,058.83, while Nifty was up 15.70 points at 11,604.10.
"We expect markets to remain rangebound in the near term. Further, investors’ focus is on Q2FY20 earnings season, which would induce stock-specific volatility," said Ajit Mishra Vice President, Research, Religare Broking.
"We would advise investors to stay focused on selective blue chip companies. On the global front, market participants would keep a close watch on US-China trade talks and progress on Brexit deal," 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 11,555.13, followed by 11,506.17. If the index starts moving up, key resistance levels to watch out for are 11,652.33 and 11,700.57.
Nifty Bank closed with a gain of 48.45 points at 29,459.60 on October 23. The important pivot level, which will act as crucial support for the index, is placed at 29,234.53, followed by 29,009.46. On the upside, key resistance levels are placed at 29,664.23 and 29,868.87.
Call options data
Maximum call open interest (OI) of 26.24 lakh contracts was seen at 12,000 strike price. It will act as a crucial resistance level in the October series.
This is followed by 11,700 strike price, which holds 25.04 lakh contracts in open interest; and 11,800, which has accumulated 18.27 lakh contracts in open interest.
Call writing was seen at the 12,000 strike price, which added 1.99 lakh contracts, followed by 11,700 strike that added 1.35 lakh contracts.
Call unwinding was seen at the 11,300 strike price, which shed 60,000 contracts, followed by 11,400 strike which shed 30,600 contracts.
Put options data
Maximum put OI of 27.27 lakh contracts was seen at 11,000 strike price, which will act as crucial support in October series.
This is followed by 11,500 strike price, which holds 20.65 lakh contracts in open interest; and 11,400 strike price, which has accumulated 17.67 lakh contracts in OI.
Put writing was seen at the 11,500 strike price, which added 1.92 lakh contracts, followed by 11,600 strike price, which added 1.65 lakh contracts and 11,700 which added 64,725 contracts.
Put unwinding was seen at 12,000 strike price, which shed 61,125 contracts, followed by 11,300 strike that shed 39,750 contracts and 11,200 that shed 33,900 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
43 stocks saw long buildup
34 stocks witnessed short-covering
As per available data, 34 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.
48 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.
26 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
JSW Energy - board meeting on November 1 to consider and approve the financial results for the period ended September 30, 2019, and other business matters
BEML - board meeting will be held on November 02, 2019, to consider and approve the financial results for the period ended September 30, 2019
Lupin - board meeting on November 6 to consider and take on record unaudited financial results for the quarter ended September 30, 2019, and other business matters.
Indian Oversea Bank - board meeting on October 25 to consider fundraising
Wockhardt - board meeting on November 7 to consider and approve the financial results for the period ended September 30, 2019
Piramal Enterprises - board meeting on October 25 to consider fundraising
Stocks in news
Results on October 24: ITC, Maruti Suzuki, Colgate Palmolive, Raymond, PNB Housing Finance, IDFC First, Cummins, Bandhan Bank, Shriram Transport
Hexaware Q3: Consolidated net profit up 21.4% at Rs 183.7 crore versus Rs 151.3 crore, rupee revenue up 13.2% at Rs 1,481.3 crore versus Rs 1,308.3 crore, QoQ
HCL Tech Q2: Net profit up 19.4% at Rs 2,651 crore against Rs 2,220 crore, rupee revenue up 6.7% at Rs 17,528 crore versus Rs 16,425 crore, QoQ
L&T Q2: Net profit up 13.3% at Rs 2,527 crore versus Rs 2,230.5 crore, revenue at Rs 35,328.4 crore against Rs 30,678.13 crore, YoY.
Hero MotoCorp Q2: Net profit down 10.4% at Rs 874.8 crore versus Rs 976.3 crore, revenue down 16.7% at Rs 7,570.7 crore versus Rs 9,090.9 crore, YoY.
FII & DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 213.23 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 137.38 crore in the Indian equity market on October 23, as per provisional data available on the NSE.
No stock under ban period on NSE
For October 24, 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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.