The market extended gains for seventh consecutive session, climbing 1 percent to end at record closing high on May 31. Reliance Industries continued to be a leader in the rally, followed by private banks & financials and FMCG stocks.
The BSE Sensex rallied 514.56 points or 1 percent to close at 51,937.44, while the Nifty50 climbed 147.10 points or 0.95 percent to 15,582.80 and gained 6.5 percent during the month, forming bullish candle on the daily as well as monthly charts.
"The daily price action has formed a sizable bullish candle and closed above the previous swing high of 15,432 on a closing basis which remains a positive sign. On the daily chart, Nifty continues to form a series of higher Tops and higher Bottom formation indicating sustained strength," Rajesh Palviya, VP - Technical and Derivative Research at Axis Securities told Moneycontrol.
"Any sustainable move above 15,600 levels may cause momentum towards 15,700-15,750 levels. On the downside, any violation of an intraday support zone of 15,500 levels may cause profit booking towards 15,350-15,300 levels," he said.
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 15,435.77, followed by 15,288.73. If the index moves up, the key resistance levels to watch out for are 15,668.07 and 15,753.33.
Nifty Bank
The Nifty Bank rallied 385.30 points or 1.1 percent to close at 35,526.70 on May 31. The important pivot level, which will act as crucial support for the index, is placed at 35,109.71, followed by 34,692.8. On the upside, key resistance levels are placed at 35,763.91 and 36,001.2 levels.
Call option data
Maximum Call open interest of 24.28 lakh contracts was seen at 16,000 strike, which will act as a crucial resistance level in the June series.
This is followed by 15,500 strike, which holds 15.32 lakh contracts, and 15,800 strike, which has accumulated 10.20 lakh contracts.
Call writing was seen at 16,200 strike, which added 4.88 lakh contracts, followed by 16,300 strike which added 1.77 lakh contracts, and 16,100 strike which added 75,075 contracts.
Call unwinding was seen at 15,200 strike, which shed 1.24 lakh contracts, followed by 15,300 strike which shed 1.13 lakh contracts, and 15,400 strike which shed 1.1 lakh contracts.
Put option data
Maximum Put open interest of 28.27 lakh contracts was seen at 15,000 strike, which will act as a crucial support level in the June series.
This is followed by 14,700 strike, which holds 11.89 lakh contracts, and 14,800 strike, which has accumulated 11.17 lakh contracts.
Put writing was seen at 15,000 strike, which added 5.99 lakh contracts, followed by 14,800 strike which added 3.79 lakh contracts, and 15,200 strike which added 2.65 lakh contracts.
Put unwinding was seen at 14,700 strike which shed 91,650 contracts, followed by 15,300 strike, which shed 31,650 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
49 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.
17 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.
35 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.
57 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
IRB Infrastructure Developers: HDFC Mutual Fund acquired 24.81 lakh equity shares in IRB Infrastructure at Rs 111 per share. Zenith Multi Trading DMCC sold 25 lakh euqity shares at same price on the NSE, the bulk deals data showed.
Patel Integrated Logistics: Promoter Asgar Patel sold another 3,67,300 equity shares in the company at Rs 23.62 per share on the NSE, the bulk deals data showed.
(For more bulk deals, click here)
Results on June 1
ITC, Balrampur Chini Mills, Gujarat Gas, Radico Khaitan, Aris International, Divyashakti Granites, SAB Events & Governance Now Media, KJMC Financial Services, Kumaka Industries, NGL Fine-Chem, Salasar Techno Engineering, Sungold Media and Entertainment, Solitaire Machine Tools, TV Vision Ltd, and V R Woodart will release quarterly earnings on June 1.
Stocks in News
Allied Digital Services: The company reported higher consolidated profit at Rs 3.9 crore in Q4FY21 against Rs 2.85 crore in Q4FY20, revenue rose to Rs 95.76 crore from Rs 90.13 crore YoY.
Honeywell Automation India: The company reported lower profit at Rs 104.02 crore in Q4FY21 against Rs 111.14 crore in Q4FY20, revenue fell to Rs 672.7 crore from Rs 704.26 crore YoY.
Narayana Hrudayalaya: The company reported higher consolidated profit at Rs 68.05 crore in Q4FY21 against Rs 11.99 crore in Q4FY20, revenue jumped to Rs 837.76 crore from Rs 742.95 crore YoY.
Asian Granito India: The company reported higher consolidated profit at Rs 20.31 crore in Q4FY21 against Rs 6.88 crore in Q4FY20, revenue jumped to Rs 434.14 crore from Rs 257.73 crore YoY.
Nahar Industrial Enterprises: The company reported consolidated profit at Rs 40.27 crore in Q4FY21 against loss of Rs 2.49 crore in Q4FY20, revenue rose to Rs 463.62 crore from Rs 406.85 crore YoY.
Rupa & Company: The company reported consolidated profit at Rs 65.9 crore in Q4FY21 against loss of Rs 4.28 crore in Q4FY20, revenue jumped to Rs 453.99 crore from Rs 179.3 crore YoY.
Fund flow
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 2,412.39 crore, while domestic institutional investors (DIIs) net bought shares worth Rs 179.78 crore in the Indian equity market on May 31, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Three stocks - Bank of Baroda, Punjab National Bank, and Sun TV Network - are under the F&O ban for June 1. 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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