The market continued its upward journey for the seventh consecutive session on November 4 on the back of positive global cues. The Nifty 50 ended above 11,900 and Sensex touched a fresh all-time high of 40,483.21.
Buying was seen in metal, IT, infra and PSU banks, while auto and FMCG stocks remained under pressure.
At close, the Sensex was up 136.93 points at 40,301.96, while Nifty was up 50.70 points at 11,941.30.
"Technically, Nifty failed to surpass the psychological 12,000-mark and witnessed some consolidation with a bullish bias. It has been forming higher highs – higher lows on weekly scale and supports are gradually shifting higher," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
"Now, it has to continue to hold above 11,880 levels to witness an up move towards 12,000 then 12,103 zones while on the downside major support is seen at 11,780 zones," he added.
We have collated 14 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 11,901.33, followed by 11,861.37. If the index starts moving up, key resistance levels to watch out for are 11,985.23 and 12,029.17.
Nifty Bank ended flat 30,333.1 on November 4. The important pivot level, which will act as crucial support for the index, is placed at 30,171.17, followed by 30,009.23. On the upside, key resistance levels are placed at 30,551.07 and 30,769.03.
Call options data
Maximum call open interest (OI) of 18.31 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 16.49 lakh contracts in open interest; and 12,500, which has accumulated 9.68 lakh contracts in open interest.
Call writing was seen at the 12,400 strike price, which added 1.05 lakh contracts, followed by 12,300 strike that added 1.03 lakh contracts and 12,000 strike that added 1.02 lakh contracts.
No Call unwinding was seen.
Put options data
Maximum put open interest (OI) of 19.13 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 16.44 lakh contracts in OI; and 11,700 strike price, which has accumulated 12.36 lakh contracts in OI.
Put writing was seen at the 11,900 strike price, which added 2.38 lakh contracts, followed by 11,800 strike price, which added 2.35 lakh contracts and 12,000 strike price, which added 1.39 lakh 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.
44 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.
43 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.
29 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
DB Realty - board meeting on November 14 to consider and approve the financial results for the period ended September 30, 2019
Bajaj Hindusthan Sugar - board meeting on November 13 to consider and approve the financial results for the period ended September 30, 2019
MMTC - board meeting on November 13 to consider and approve the unaudited financial results for the period ended September 30, 2019(both standalone & consolidated)
Alembic - board meeting on November 11 to consider and approve Unaudited Financial Results of the Company for the quarter and half year ended September 30, 2019.
Natco Pharma - board meeting on November 12 to consider and approve the financial results for the period ended September 30, 2019
Lakshmi Vilas Bank- board meeting on November 9 to consider and approve the financial results for the period ended September 30, 2019
Stocks in news
Results on November 5: PNB, Dabur India, Titan Company, REC, Ajanta Pharma, Apollo Tyres, Berger Paints, Birla Corporation, Cholamandalam Investment, Divis Laboratories, Gati, Gillette India, Godrej Properties, GTL Infrastructure, Gujarat Gas, JSPL, NCC, Redington, Tech Mahindra, VST Tillers Tractors
NOCIL Q2: Consolidated net profit up 3.9% at Rs 54.9 crore versus Rs 52.9 crore, revenue down 22.9% at Rs 209.7 crore versus Rs 272 crore, YoY
Persistent Systems Q2: Consolidated net profit up 4.4% at Rs 86.1 crore versus Rs 82.5 crore, rupee revenue at up 6.3% at Rs 884.6 crore versus Rs 832.1 crore, QoQ
Intellect Design Q2: Consolidated net loss at Rs 17.1 crore against profit of Rs 3.4 crore, revenue down 4.7% at Rs 326.6 crore versus Rs 342.8 crore, QoQ
Orient Refractories Q2: Consolidated net profit up 16.7% at Rs 26.1 crore against Rs 22.4 crore, revenue down 3.5% at Rs 180.1 crore versus Rs 186.7 crore, YoY
FII & DII data
Foreign institutional investors (FIIs) sold shares worth Rs 138.53 crore, while domestic institutional investors (DIIs) sold shares worth Rs 500.24 crore in the Indian equity market on November 4, as per provisional data available on the NSE.
No stock under ban period on NSE
For November 5, 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.