The market fell nearly 3 percent intraday on April 19 despite rally in Asian peers, as traders looked more worried about the steep surge in COVID-19 infections in the country. Banking and financials, Auto, Metals, FMCG and Realty stocks were hit the most, whereas only Pharma index closed in the green.
Finally, the benchmark indices settled with 1.8 percent losses. The BSE Sensex was down 882.61 points at 47,949.42, while the Nifty50 declined 258.40 points to 14,359.50 and formed a Hammer kind of pattern on the daily charts.
"The Nifty50 continues to trend lower forming a lower Top and lower Bottom formation indicating short term down trend. The next higher levels to be watched are around 14,400 levels. Any sustainable move above 14,400 may cause pullback towards 14,500-14,600 levels. This pullback should be used as an exit opportunity for short term traders," Rajesh Palviya, Head - Technical and Derivative Research at Axis Securities told Moneycontrol.
On the downside, any violation of an intraday support zone of 14,300 levels may signal weakness towards 14,200-14,000 levels, according to him.
The broader markets also witnessed sharp selling pressure as the Nifty Midcap 100 index was down 2.12 percent and Smallcap 100 index fell 2.4 percent.
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-month data and not of the current month only.
Key support and resistance levels on the Nifty
According to pivot charts, the key support levels for the Nifty are placed at 14,239.83, followed by 14,120.17. If the index moves up, the key resistance levels to watch out for are 14,430.73 and 14,501.97.
The Nifty Bank index plunged 769.10 points or 2.41 percent to 31,208.40 on April 19. The important pivot level, which will act as crucial support for the index, is placed at 30,641.3, followed by 30,074.2. On the upside, key resistance levels are placed at 31,539.9 and 31,871.4 levels.
Call option data
Maximum Call open interest of 26.99 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the April series.
This is followed by 14,500 strike, which holds 16.53 lakh contracts, and 14,800 strike, which has accumulated 13.12 lakh contracts.
Call writing was seen at 14,300 strike, which added 4.69 lakh contracts, followed by 14,500 strike which added 2.46 lakh contracts and 14,600 strike which added 2.15 lakh contracts.
Call unwinding was seen at 15,200 strike, which shed 3.57 lakh contracts, followed by 14,900 strike which shed 2.79 lakh contracts and 15,100 strike which shed 1.10 lakh contracts.
Put option data
Maximum Put open interest of 36.56 lakh contracts was seen at 14,000 strike, which will act as a crucial support level in the April series.
This is followed by 14,500 strike, which holds 24.84 lakh contracts, and 13,500 strike, which has accumulated 21.39 lakh contracts.
Put writing was seen at 14,200 strike, which added 2.37 lakh contracts, followed by 14,300 strike which added 1.61 lakh contracts and 13,500 strike which added 92,100 contracts.
Put unwinding was seen at 14,500 strike, which shed 4.66 lakh contracts, followed by 14,700 strike which shed 2.26 lakh contracts and 14,600 strike which shed 1.63 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
Nine stocks saw long build-up
An increase in open interest, along with a increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the nine stocks in which a long build-up was seen.
61 stocks saw long unwinding
A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.
81 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 the open interest future percentage, here are the top 10 stocks in which a short build-up was seen.
Seven stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on the open interest future percentage, here are the 7 stocks in which short-covering was seen.
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Results on April 20
Nestle India, Swaraj Engines, Network18 Media & Investments, Tata Steel Long Products, TV18 Broadcast, Welspun Investments and Commercials, Narendra Investments (Delhi), and Chandrima Mercantiles will release their quarterly earnings on April 20.
Stocks in News
ACC: The company reported 74 percent higher consolidated profit at Rs 563 crore in Q1CY21 against Rs 323 crore in Q1CY20; consolidated revenue rose to Rs 4,213 crore from Rs 3,433 crore YoY.
ICICI Prudential Life Insurance Company: The company reported lower consolidated profit at Rs 62.51 crore in Q4FY21 against Rs 178.73 crore in Q4FY20; net premium income rose to Rs 11,879.28 crore from Rs 10,475.12 crore YoY.
Caplin Point Laboratories: Ace investor Ashish Kacholia increased stake in Caplin Point from 1.08 percent percent (8,17,279 equity shares) as of December 2020, to 1.16 percent (8,80,279 equity shares) as of March 2021.
Snowman Logistics: CRISIL has affirmed Snowman Logistics' long term rating at 'A/Stable'.
Amarjothi Spinning Mills: The company has approved sale of the land admeasuring 3 acres and 88.50 cents to AFCM Wind Farms for Rs 16 lakh. The company is planning to dispose of some of its unutilised properties so as to liquidate the assets.
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,633.70 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 2,355.56 crore in the Indian equity market on April 19, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Two stocks - SAIL and Sun TV Network - are under the F&O ban for April 20. 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.