Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking says price-wise, Nifty has successfully managed to defend support zones of 10,850–10,900.
The market continued to reel under selling pressure after major events like the 2019 Interim Budget and the RBI monetary policy, and closed lower for the third straight session on February 11.
Traders remain cautious ahead of important macro data like CPI inflation for January 2019 and factory data for December 2018, which is scheduled to be announced on February 12. Mixed global cues and no surprise in the December quarter earnings with scope of further downgrade dampened market sentiments.
The 30-share BSE Sensex declined 151.45 points to 36,395.03, while the Nifty 50 fell 54.80 points to 10,888.80 and formed the bearish candle which resembled a 'Bearish Belt Hold' kind of formation on the daily scale.
HDFC Securities told Moneycontrol.
Sameet Chavan, Chief Analyst-Technical and Derivatives at Angel Broking said price-wise, the Nifty has successfully managed to defend the key support zone of 10,850–10,900.
"Going ahead, a move beyond today’s high of 10,931 would bring back some positivity in the market. In this scenario, we may see Nifty reclaiming 11,000 and beyond levels," he added. On the flipside, 10,850 remains to be sacrosanct support, Chavan said.
The fall in broader markets was more than frontliners as the Nifty Midcap index lost 1.7 percent and Smallcap index shed 1.8 percent.
"As far as broader market is concerned, there were few massive drops seen in individual stocks; but unlike recent days, few handful of stocks did manage to climb smartly to confirm their near term base. It certainly bodes well and hence, one needs to be very fussy now while making a stock selection," said Chavan.
We have collated top 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
The Nifty closed at 10,888.8 on February 11. According to Pivot charts, the key support level is placed at 10,853.63, followed by 10,818.47. If the index starts moving upward, key resistance levels to watch out are 10,927.43 and then 10,966.07.
The Nifty Bank index closed at 27,227.80, down 66.60 points on February 11. The important Pivot level, which will act as crucial support for the index, is placed at 27,150.96, followed by 27,074.13. On the upside, key resistance levels are placed at 27,305.26, followed by 27,382.73.
Call Options Data
Maximum Call open interest (OI) of 35.61 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the February series.
This was followed by the 11,200 strike price, which now holds 27.93 lakh contracts in open interest, and 11,100, which has accumulated 23.66 lakh contracts in open interest.
Meaningful Call writing was seen at the strike of 10,900 which added 3.38 lakh contracts, followed by 11,100 strike which added 1.14 lakh contracts and 10,800 strike which added 0.66 lakh contracts.
Call unwinding was seen at the strike price of 11,000 which shed 1.69 lakh contracts, followed by 11,300 strike which shed 1.28 lakh contracts.
Put Options data
Maximum Put open interest of 30.57 lakh contracts was seen at the 10,400 strike price. This will act as a crucial support level for the February series.
This was followed by the 10,700 strike price, which now holds 29.88 lakh contracts in open interest, and the 11,000 strike price, which has now accumulated 26.03 lakh contracts in open interest.
There was hardly any Put writing seen
Put unwinding was seen at the strike price of 10,900 which shed 3.5 lakh contracts, followed by 11,000 strike which shed 3.21 lakh contracts and 10,800 strike which shed 2.72 lakh contracts.
FII & DII data
Foreign Institutional Investors (FIIs) sold shares worth Rs 125.05 crore and Domestic Institutional Investors sold Rs 232.55 crore worth of shares in the Indian equity market on February 11, as per provisional data available on the NSE.
Fund Flow Picture
Stocks with high delivery percentage
High delivery percentage suggests that investors are accepting delivery of the stock, which means that investors are bullish on it.
23 stocks saw a long buildup
21 stocks saw short covering
A decrease in open interest along with an increase in price mostly indicates short covering.
91 stocks saw a short build-up
An increase in open interest along with a decrease in price mostly indicates a build-up of short positions.
61 stocks saw long unwinding
Bulk Deals on February 11
Bannari Amman Spinning: Shankar Resources Private Limited sold 1,37,462 shares of the company at Rs 165.03 per share on the NSE.
Oriental Carbn & Chemicals: Oriental Carbon and Chemicals (company itself) bought 1,23,000 shares at Rs 1,149 per share on the NSE.
Ortin Laboratories: Srinidhi Infin Limited sold 1,56,107 shares of the company at Rs 14.27 per share on the NSE.
Reliance Infrastructure: Regime De Retraite D Hydro-Quebec sold 13,43,158 shares of the company at Rs 118.34 per share on the BSE.
Punj Lloyd: IFCI sold 35,00,000 shares of the company at Rs 1.81 per share on the BSE.
(For more bulk deals, click here)
Analyst or Board Meet/Briefings
Hero MotoCorp: Company's officials will be meeting analysts/investors on February 12, 13, 14 and 15.
UPL: Company has scheduled to meet analysts / investors at a conference being organized by Antique Stock Broking on February 12 and Edelweiss Securities Limited on February 13, in Mumbai.
Symphony: Company's officials will be meeting Janus Henderson lnvestors on February 22 and Mondrian lnvestment Partners on February 25.
ABB India: Board meeting is scheduled on March 1 to consider the annual audited accounts for the financial year ended December 2018, and recommendation of dividend, if any.
Mindtree: Company's officials will be meeting analysts/investors on February 14 & 15 in Non Deal Roadshow in Hong Kong and attending Chasing Growth 2019, Investor Conference at Mumbai on February 19.
Endurance Technologies: A one-on-one meeting with Nomura Asset Management Singapore Limited (Nomura) has been scheduled on February 13.
Tata Steel: Company's officials will be meeting investors/analysts on February 12, 13, 14 and 18.
PNB Housing Finance: Company's officials will be attending Edelweiss Securities India Conference at Mumbai on February 13, IIFL Institutional Investor Conference at Mumbai on February 14 and Kotak Institutional Investor Conference at Mumbai on February 19.
Mangalam Cement: Conference Call on February 12 in Singapore & Hong Kong.
KEC International: Company's officials will be meeting IIFL Securities on February 13 and Edelweiss Securities on February 15.
Ramco Cements: Investors' meet is scheduled on 12, 14 and 15 of February 2019 at Mumbai.
Hinduja Global Solutions: Senior management of the company is scheduled to attend Edelweiss Investor conference on February 13.
Bharat Electronics: Company's officials will be attending Antique Investor Conference at Mumbal on February 12, Edelweiss India Conference 2019 at Mumbal on February 13, and IIFL's Enterprising India Investors Conference on February 14.
Future Supply Chain Solutions: Company's officials will be attending Antique Investor Conference at Mumbal on February 12 and Edelweiss India Conference 2019 at Mumbal on February 13.
Eicher Motors: Company's officials will be meeting analysts/investors on February 12 and 13.
Crompton Greaves Consumer Electricals: Company's officials will be meeting analysts/investors on February 12.
Take Solutions: A conference call for analysts and investors to be held on February 13 after the announcement of financial results for the quarter and nine months ended December 2018.
TCI Express: Company's officials will be meeting analysts/investors on February 13.
Stocks in news
Results on February 12: Coal India, Sun Pharma, Hindalco Industries, CRISIL, Excel Realty, Karur Vysya Bank, HMT, Krebs Biochemicals and Industries, Religare Enterprises, HEG, Tree House Education & Accessories, Global Vectra Helicorp, Orissa Minerals Development Company, RITES,
D-Link (India), Opto Circuits (India), Mask Investments, Vadilal Industries, Indbank Merchant Banking Services, Redington (India), Lyka Labs, Patel Engineering, TGB Banquets And Hotels, NLC India, Automotive Axles, NCC, Jain Irrigation Systems, GE Power India, Olectra Greentech, Kilitch Drugs (India),
Coral India Finance & Housing, Shirpur Gold Refinery, Omaxe, Vidhi Specialty Food Ingredients, GTPL Hathway, GRP, Dhanuka Agritech, Kesoram Industries, Rajdarshan Industries, Rashtriya Chemicals and Fertilizers, Atcom Technologies, Indowind Energy, HeidelbergCement India, Gujarat Sidhee Cement,
Transport Corporation of India, 3M India Oil India, Nila Spaces, JK Paper, Pennar Industries, Hindustan Motors, Balaji Telefilms, Matrimony.Com, DB (International) Stock Brokers, Thomas Scott (India), Emami Realty, Bang Overseas, Bedmutha Industries, Rajasthan Petro Synthetics, Goldstone Technologies,
Prakash Steelage, BLB, Prabhat Dairy, Dollar Industries, Bharat Road Network, ADF Foods, Jocil, Metalyst Forgings, Pearl Global Industries, Punjab & Sind Bank, Deccan Cements, Nelcast, DCW, IPCA Laboratories, Mukand Engineers, Assam Company India, IOL Chemicals and Pharmaceuticals, Indian Hotels Company,
CIL Nova Petrochemicals, Indbank Merchant Banking Services, Silicon Valley Infotech, Tamilnadu PetroProducts, DCM Financial Services, Alps Industries, Birla Cable, MIRC Electronics, Dhunseri Tea & Industries, GTN Industries, Manali Petrochemicals, ISMT, Brightcom Group, DB Realty,
OnMobile Global, Malu Paper Mills, TPL Plastech, The Western India Plywoods, Renaissance Jewellery, Cords Cable Industries, Industrial Investment Trust, JHS Svendgaard Laboratories, Blue Blends (I), Vimal Oil & Foods, J Kumar Infraprojects, Jullundur Motor Agency (Delhi), Neuland Laboratories,
Shree Ganesh Forgings, Lincoln Pharmaceuticals, Natco Pharma, SKIL Infrastructure, Prabhat Dairy, Magadh Sugar & Energy, Indian Metals & Ferro Alloys, Poddar Housing and Development, Zicom Electronic Security Systems, Jindal Poly Films, TCI Developers, C & C Constructions, Lovable Lingerie,
Celebrity Fashions, Indian Terrain Fashions, Usha Martin Education & Solutions, Amrutanjan Health Care, Fineotex Chemical, Hotel Leela Venture, Shakti Pumps (India), Aksh Optifibre, Lux Industries, Asian Hotels (North), Sanghvi Forging and Engineering, Som Distilleries & Breweries,
Container Corporation of India, Asian Granito India, Clariant Chemicals (India), Kothari Petrochemicals, Crest Ventures, BLS International Services, PG Electroplast, Asahi India Glass, Intrasoft Technologies, Sadbhav Infrastructure Project, BSEL Infrastructure Realty, DQ Entertainment (International),
Linc Pen & Plastics, Action Construction Equipment, Ambika Cotton Mills, PSL, Manpasand Beverages, Bajaj Hindusthan Sugar, 63 moons technologies, Sambhaav Media, Prestige Estates Projects, Hind Rectifiers, Southern Petrochemicals Industries Corporation, Bata India, Shyam Telecom, Rama Steel Tubes,
Pradip Overseas, Man Industries (India), MM Forgings, Panama Petrochem, INEOS Styrolution India, Som Distilleries & Breweries, OCL Iron and Steel, Nila Infrastructures, Banco Products (I)
United Bank of India: Bank allotted more than 181.73 crore equity shares at a price of Rs 11.88 apiece to the President of India, aggregating Rs 2,159 crore.
State Trading Corporation Q3: Loss at Rs 839 crore versus profit at Rs 19 crore; revenue falls to Rs 1,623 crore versus Rs 2,237 crore YoY.
Triveni Turbine Q3: Profit increases to Rs 22.83 crore versus Rs 19.4 crore; revenue rises to Rs 211.34 crore versus Rs 165.6 crore YoY.
India Home Loan: Board approved fund raising plan.
ITI Q3: Consolidated profit dips to Rs 13.6 crore versus Rs 76.24 crore; revenue jumps to Rs 563.2 crore versus Rs 251 crore YoY.
Andhra Bank Q3: Loss at Rs 578.6 crore versus Rs 532 crore; net interest income rises to Rs 1,698.27 crore versus Rs 1,672.21 crore YoY.
Spencer's Retail Q3: Consolidated loss at Rs 0.11 crore versus loss Rs 4.79 crore; revenue rises to Rs 573.5 crore versus Rs 538 crore YoY.
Ashapura Minechem Q3: Consolidated loss at Rs 18.2 crore versus loss Rs 4.07 crore; revenue falls to Rs 87.8 crore versus Rs 175.65 crore YoY.
BL Kashyap and Sons Q3: Profit falls to Rs 4.5 crore versus Rs 9.7 crore; revenue dips to Rs 187 crore versus Rs 242.6 crore YoY.
Axis Bank: Specified Undertaking of the United Trust of India (SUUTI) to sell up to 5,07,59,949 (representing 1.98 percent of paid-up equity) equity shares of Axis Bank, on February 12 and 13, with an option to additionally sell 2,63,37,187 (1.02 percent) equity shares through offer for sale.
GE T&D India Q3: Profit dips to Rs 5.3 crore versus Rs 7.2 crore; revenue falls to Rs 117 crore versus Rs 144 crore YoY.
Ind-Swift Q3: Loss at Rs 3.7 crore versus Rs 14 crore; revenue dips to Rs 64 crore versus Rs 77 crore YoY.
IL&FS Transportation Networks: Interest due and payable on February 11 on the NCD was not paid to the debenture holders due to insufficient funds.
Gujarat Narmada Valley Fertilizers & Chemicals Q3: Profit dips to Rs 165.7 crore versus Rs 227.88 crore; revenue drops to Rs 1,219.2 crore versus Rs 1,590.9 crore YoY.
PI Industries Q3: Profit rises to Rs 107.3 crore versus Rs 80.6 crore; revenue rises to Rs 707.5 crore versus Rs 537.7 crore YoY.
Rico Auto Industries Q3: Profit dips to Rs 10.80 crore versus Rs 13.2 crore; revenue rises to Rs 334.5 crore versus Rs 303 crore YoY.
Ind-Swift Labs Q3: Profit jumps to Rs 42.26 crore versus Rs 0.07 crore; revenue rises to Rs 196 crore versus Rs 166 crore YoY.
Gulf Oil Lubricants India: Company announced its association with Mahindra Logistics to strengthen its supply chain and to implement its post GST supply chain consolidation strategy.
Jaypee Infratech Q3: Loss at Rs 326.6 crore versus loss Rs 361.3 crore; revenue rises to Rs 338.6 crore versus Rs 59.9 crore YoY.
Edelweiss Financial Services: Allianz Investment Management strategically invests in Edelweiss' Private Debt Platform'.
Hindustan Copper Q3: Profit rises to Rs 34.6 crore versus Rs 19 crore; revenue increases to Rs 474 crore versus Rs 431 crore YoY.
Corporation Bank Q3: Profit at Rs 60.5 crore versus loss Rs 1,240.5 crore; net interest income rises to Rs 1,303.02 crore versus Rs 1,263.41 crore YoY.
Persistent Systems: Company appoints Christopher O'Connor as CEO designate.
JBM Auto Q3: Profit rises to Rs 18 crore versus Rs 15.14 crore; revenue increases to Rs 430 crore versus Rs 396 crore YoY.
Alembic Pharma: Aleor Dermaceuticals, a 60:40 Joint Venture between company and Orbicular Pharmaceutical Technologies, has completed United States Food and Drug Administration inspection at its formulation manufacturing facility located at Karakhadi, Gujarat, India; with two observations.
Bhartiya International: Board approved appointment of Snehdeep Aggarwal as an Executive Chairman and Raj Kumar Chawla as the CFO of the company.
Max India: Rahul Khosla to transition from Group President to a Group Advisor role in line with agreed plans; Analjit Singh to become Chairman of Max Life and Max India; Mohit Talwar to become Group Vice Chairman.
Skipper Q3: Profit dips to Rs 6.45 crore versus Rs 29.2 crore; revenue declines to Rs 434.8 crore versus Rs 566.4 crore YoY.
Astral Poly Technik Q3: Profit rises to Rs 52.7 crore versus Rs 46.3 crore; revenue jumps to Rs 633.7 crore versus Rs 512.3 crore YoY.
Mangalam Drugs Q3: Loss at Rs 4.4 crore versus profit Rs 6 crore; revenue dips to Rs 48.6 crore versus Rs 74 crore YoY.
Six stocks under ban period on NSE
Securities in ban period for the next day's trade under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.For February 12, Adani Enterprises, Jet Airways, Reliance Capital, Reliance Power, DHFL and IDBI Bank stocks are present in this list.