Positive global sentiment, expectations of stimulus from Budget and hopes of better Q3FY20 earnings continued supporting market sentiment as benchmark indices Sensex and Nifty settled at record highs on January 13.
After market hours, government released inflation data with retail inflation rate in December jumping to 7.35 percent, surpassing the RBI's comfort level.
Sensex closed 260 points, or 0.62 percent, higher at 41,859.69 while Nifty shut shop at 12,329.55, up 73 points, or 0.59 percent.
Secondary barometers BSE Midcap and Smallcap indices outperformed Sensex, closing with gains of 0.87 percent and 0.95 percent, respectively."The market is buoyant due to positive expectation from the Union Budget and a possible improvement in the trajectory of Q3 earnings growth. The IT sector has provided a good start to the season and FIIs are maintaining its risk-on strategy with positive inflows in the emerging markets (EMs), expecting no hike in the US Fed rate and improvement in the economies of
EMs during CY2020," said Vinod Nair, Head of Research, Geojit Financial Services.
However, experts are of the view that investors should stay light as the probability of consolidation is much higher at current levels, but the overall trend still remains on the upside.
We have collated 15 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 Nifty is placed at 12,297.6, followed by 12,265.7. If the index continues moving up, key resistance levels to watch out for are 12,349.6 and 12,369.7.
Nifty Bank closed 0.25 percent up at 32,177.65. The important pivot level, which will act as crucial support for the index, is placed at 32,060.3, followed by 31,942.9. On the upside, key resistance levels are placed at 32,308.9 and 32,440.1.
Call options data
Maximum call open interest (OI) of 27.02 lakh contracts was seen at the 12,500 strike price. It will act as a crucial resistance level in the January series.
This is followed by 12,600 strike price, which holds 18.65 lakh contracts in open interest, and 12,400, which accumulated 18.30 lakh contracts in open interest.
Significant call writing was seen at the 12,600 strike price, which added 2.31 lakh contracts, followed by 12,500 strike price that added 88,350 contracts.
Call unwinding was witnessed at 12,300 strike price, which shed 69,150 contracts, followed by 12,100 which shed 55,850 contracts.
Put options data
Maximum put open interest of 45.90 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the January series.
This is followed by 12,200 strike price, which holds 25.44 lakh contracts in open interest, and 11,800 strike price, which has accumulated 19.86 lakh contracts in open interest.
Put writing was seen at the 12,300 strike price, which added 4.05 lakh contracts, followed by 12,100 strike, which added 2.18 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
92 stocks saw long buildup
Based on open interest (OI) future percentage, here are the top 10 stocks in which long buildup was seen.
5 stocks saw long unwinding
34 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.
16 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering.
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Upcoming analyst or board meetings/briefings
The board of Birla Precision Tech will meet on January 14 to consider and approve the preferential issue of shares.
The respective boards of IndusInd Bank, Wipro, Bandhan Bank, Chadha Papers, Hathway Bhawani Cabletel and Datacom, TV18 Broadcast, Shiva Cement and Network 18 Media & Investments will meet on January 14 to consider and approve their quarterly results.
Stocks in the news
Delta Corp: Q3 profit grew 9 percent to Rs 55 cr, revenue remained unchanged at Rs 205.1 cr, margin dipped 320bps YoY.
IRCTC: Railway Ministry gave approval to IRCTC to operate Ahmedabad-Mumbai Central Tejas Express.
Infosys: The company partnered with France-based GEFCO to support its digital transformation.
Lakshmi Vilas Bank: D Krishnakumar, Vice President, Risk Department took charge as the Chief Risk Officer.
Indag Rubber: ICRA reaffirmed the long-term rating of A and short-term A1 to the company's LOC, with a stable outlook.
Allahabad Bank: The bank has revised downward the MCLR by 05 basis points (bps) for one month MCLR tenor.
Syndicate Bank: The bank has revised MCLR to 7.50-8.25 percent.
Nila Infrastructures: Brickwork Ratings India has reaffirmed the bank loan rating for bank facilities of the company.
Next Mediaworks: The company reported a loss of Rs 3.66 crore for the quarter ended December 31, 2019, against the profit of Rs 21 lakh reported in the same quarter of the previous year.
FII and DII data
Foreign institutional investors (FIIs) bought shares worth Rs 68.24 crore, while domestic institutional investors (DIIs), too, bought shares of worth Rs 47.17 crore in the Indian equity market on January 13, provisional data available on the NSE showed.
Stocks under F&O ban on NSEYes Bank is under the F&O ban for January 14. 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.