Stock benchmarks suffered their worst single-day crash on March 23 on growing fears of the coronavirus outbreak. The Sensex plunged a huge 3,935 points to close at 25,981.24 and the Nifty fell 1,135 points to end at 7,610.
BSE Midcap and Smallcap indices plunged 12.83 percent and 12.27 percent, respectively.
Investors lose over Rs 14 lakh crore in terms of market capitalisation. The average market capitalisation of the BSE-listed companies fell from Rs 116.09 lakh crore recorded on 20 March to Rs 101.9 lakh crore as on March 23.
"With Nifty correcting further, the bears are in full control. The index could now be headed lower once the next major supports of 7,516 are broken. Any pullback rallies could find resistance at 7,830," said Deepak Jasani, Head Retail Research, HDFC Securities.
We have collated 14 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 7,409.48, followed by 7,208.72. If the index moves up, key resistance levels to watch out for are 7,985.13 and 8,360.02.
Nifty Bank closed 16.73 percent down at 16,917.65. The important pivot level, which will act as crucial support for the index, is placed at 16,173.96, followed by 15,430.23. On the upside, key resistance levels are placed at 18,278.56 and 19,639.43.
Call options data
Maximum call open interest (OI) of 12.4 lakh contracts was seen at the 8,000 strike price. It will act as a crucial resistance level in the March series.
This is followed by 8,100 strike price, which holds 5.63 lakh contracts in open interest, and 7,500, which has accumulated 4.45 lakh contracts in open interest.
Significant call writing was seen at the 8,000 strike price, which added 6.9 lakh contracts, followed by an 8,100 strike price that added 4.43 lakh contracts.
No call unwinding was witnessed on March 23.
Put options data
Maximum put open interest of 13.14 lakh contracts was seen at 8,100 strike price, which will act as crucial support in the March series.
This is followed by 7,500 strike price, which holds 10.12 lakh contracts in open interest, and 8,000 strike price, which has accumulated 7.82 lakh contracts in open interest.
No put writing was seen on March 23.
Put unwinding was seen at 8,000 strike price, which shed 11.37 lakh contracts, followed by 7,500 strike price which shed 6 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
No stock saw long build-up
There was not a single stock that witnessed long build-up on March 23.
133 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
12 stocks saw short build-up
An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions.
On stock witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering.
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Sterlite Technologies: The board will meet on March 24 to consider and approve share buyback.
The respective boards of Vishal Bearings, Unjha Formulations, Misquita Engineering and Kavit Industries will meet on March 24 for general purposes.
Stocks in news
Century Enka: The company has temporarily shut down its plant operation at Pune.
Omax Autos: The company has decided to temporarily shut down its manufacturing units in UP, Haryana and Karnataka.
State Bank Of India: The bank said it has made payment of yearly interest to the bondholders of Basel III compliant AT1 bonds.
Dr Reddy's Labs: The board will meet on March 27 to consider raising of funds through the issuance of commercial papers.
Finolex Industries: Manufacturing plants and offices in Maharashtra will be closed till March 31.
Usha Martin: Company announced the temporary shut down of plant operations in Punjab due to COVID-19.
Amber Enterprises: Company announced the temporary closure of manufacturing operations across India till March 31.
GNFC: TDI-II plant at Dahej resumed its normal production after the completion of scheduled maintenance.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 2,989.29 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 1,082.24 crore in the Indian equity market on March 23, provisional data available on the NSE showed.