The market extended gains into the second consecutive session on May 24 supported by banking and financial heavyweights such as HDFC twins, SBI, ICICI Bank and Axis Bank.
Sensex closed 111 points, or 0.22 percent, up at 50,651.90 while the Nifty settled with a gain of 22 points, or 0.15 percent, at 15,197.70.
"Nifty formed a small-bodied candle on the daily scale while it has been forming higher high, higher lows for the last two sessions. Now, it has to hold above 15,150 to witness an up move towards 15,300 then the lifetime high of 15,431 while on the downside, support exists at 15,000 and 14,900," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
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 15,143.4, followed by 15,089.1. If the index moves up, the key resistance levels to watch out for are 15,254.1 and 15,310.5.
Nifty Bank
The Nifty Bank outpaced benchmark indices, surging 337 points or 0.97 percent to 34,943.60 on May 24. The important pivot level, which will act as crucial support for the index, is placed at 34,575.91, followed by 34,208.2. On the upside, key resistance levels are placed at 35,263.71 and 35,583.8 levels.
Call option data
Maximum Call open interest of 47.99 lakh contracts was seen at 15,500 strike, which will act as a crucial resistance level in the May series.
This is followed by 15,300 strike, which holds 36.64 lakh contracts, and 15,400 strike, which has accumulated 31.43 lakh contracts.
Call writing was seen at 15,300 strike, which added 13.57 lakh contracts, followed by 15,400 strike which added 6.6 lakh contracts and 15,600 strike which added 4 lakh contracts.
Call unwinding was seen at 15,700 strike, which shed 6.72 lakh contracts, followed by 15,000 strike which shed 5.05 lakh contracts, and 15,100 strike which shed 2.8 lakh contracts.
Put option data
Maximum Put open interest of 47.43 lakh contracts was seen at 15,000 strike, which will act as a crucial support level in the May series.
This is followed by 14,800 strike, which holds 32.09 lakh contracts, and 14,700 strike, which has accumulated 27.93 lakh contracts.
Put writing was seen at 15,200 strike, which added 8.72 lakh contracts, followed by 14,700 strike which added 4.11 lakh contracts and 15,300 strike which added 2.09 lakh contracts.
Put unwinding was seen at 14,900 strike which shed 3.2 lakh contracts, followed by 15,500 strike, which shed 15,825 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
50 stocks saw long build-up
An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the top 10 stocks in which a long build-up was seen.
34 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.
36 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.
39 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 top 10 stocks in which short-covering was seen.
Bulk deals
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Results on May 25
Ajmera Realty & Infra India, Alkem Laboratories, AstraZeneca Pharma India, Bajaj Electricals, Bayer Crop Science, Emami, GATI, Indoco Remedies, Newgen Software Technologies, Thermax and VIP Industries are
among the companies that will announce their March quarter results on May 25.
Stocks in news
Grasim Industries: The company has posted a 35.7 percent jump in its Q4 net profit at Rs 480.2 crore versus Rs 353.8 crore and revenue was up 18.4 percent at Rs 4,394.2 crore versus Rs 3,712.1 crore, YoY, reported CNBC-TV18.
Kanpur Plastipack: Board of directors approved the payment of special interim dividend at 10 percent i.e Re 1 per equity share.
Bal Pharma: The company launched Favipiravir formulation into the Indian market, under the brand name BALflu.
Lakshmi Machine Works: The company recommended a dividend of Rs 10 per equity share for the financial year ended March 31, 2021.
Punjab National Bank: Ashutosh Choudhury, General Manager (empanelled as Chief General Manager) has assumed the office of Group Chief Risk Officer (GCRO) of the bank w.e.f. 24.05.2021.
GMM Pfaudler: The company has commenced manufacturing operations at its facility at Vatva near Ahmedabad on May 24, 2021.
Bannari Amman Sugars: The company's board of directors recommended final dividend of Rs 10 per equity share (100 percent).
JK Paper: The company's board of directors recommended a final dividend of Rs 4 per equity share (40 percent).
Fund flow
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 585.36 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 707.69 crore in the Indian equity market on May 24, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Three stocks - BHEL, Canara Bank and Punjab National Bank - are under the F&O ban for May 25. 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.
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