Benchmark indices on March 16 failed to hold on to the gains logged in the previous session and closed with massive losses.
The market mayhem resurfaced and the equity benchmarks plummeted to its second-biggest single-day fall as worries about the impact of coronavirus on domestic as well as the global economy grew stronger.
Sensex eventually closed 2,713 points, or 7.96 percent down at 31,390 while Nifty ended 758 points or 7.61 percent down at 9,197.40.
BSE Midcap and Smallcap indices closed 5.94 percent and 5.66 percent down, respectively.
Experts are of the view that the market is showing no signs of stability as the economic impact of coronavirus is likely to be significant for many major economies.
We have collated 15 data points to help you spot profitable trades:
Note: The OI and volume data of stocks given in this story are the aggregates of the three-months data and not of the current month only.
Key support and resistance level for Nifty
According to the pivot charts, the key support level for Nifty is placed at 9,040.93, followed by 8,884.47. If the index moves up, key resistance levels to watch out for are 9,478.04 and 9,758.67.
Nifty Bank closed with a massive loss of 8.21 percent at 23,101.15. The important pivot level, which will act as crucial support for the index, is placed at 22,714.86, followed by 22,328.53. On the upside, key resistance levels are placed at 23,780.86 and 24,460.53.
Call options data
Maximum call open interest (OI) of 12.52 lakh contracts was seen at the 10,500 strike price. It will act as a crucial resistance level in the March series.
This is followed by 9,500 strike price, which holds 9.49 lakh contracts in open interest, and 10,400, which has accumulated 5.4 lakh contracts in open interest.
Significant call writing was seen at the 9,300 strike price, which added 89,850 contracts, followed by 9,900 strike price that added 77,550 contracts.
Call unwinding was witnessed at 10,400 strike which shed 62,700 contracts. This was followed by 10,300 strike which shed 17,175 contracts.
Put options data
Maximum put open interest of 22.12 lakh contracts was seen at 9,500 strike price, which will act as crucial support in the March series.
This is followed by 10,000 strike price, which holds 18 lakh contracts in open interest, and 10,500 strike price, which has accumulated 13.68 lakh contracts in open interest.
Put writing was seen at the 10,500 strike price, which added 27,750 contracts.
Put unwinding was seen at 10,000 strike price, which shed 1.3 lakh contracts, followed by 9,700 strike price which shed 69,225 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
One stock saw long build-up
90 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
51 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.
4 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering.
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Kotak Mahindra Bank: The board will meet on March 17 to consider and approve dividend on preference shares.
Adani Enterprises: The board will meet on March 17 to consider and approve the interim dividend.
Graphite India: The board will meet on March 17 to consider and approve the interim dividend.
Kirloskar Industries: The board will meet on March 17 to consider and approve the interim dividend.
Shilp Gravures: The board will meet on March 17 to consider and approve the interim dividend.
RBL Bank: The board will meet on March 17 to consider and approve the interim dividend.
Muthoot Finance: The board will meet on March 17 to consider and approve the interim dividend.
Mastek: The board will meet on March 17 to consider and approve the interim dividend.
Stocks in news
IOC: Indian Oil Corporation (IOC) said that it has raised Rs 2,995 crore through a privately placed debenture issue to fund its capital expenditure requirements.
KEC International: The company completed the acquisition of 100 percent shareholding of its step-down subsidiary KEC International (Malaysia) Sdn. Bhd. from KEC Global Mauritius, a wholly-owned subsidiary of the company.
CSB Bank: Board approved the proposal to amend a few clauses in the Articles of Association of the bank. Also, it approved the proposal to merge 19 branches of the bank with the nearest branches of the bank.
Maruti Suzuki India: The company introduced the BS6 S-CNG variant of the multi-purpose van, Eeco.
Future Consumer: The company announced that the payment of principal amount has been made on secured redeemable Non- Convertible Debentures (“NCDs”) having a face value of Rs 1,00,000.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 3,809.93 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 2,614.54 crore in the Indian equity market on March 16, provisional data available on the NSE showed.
Stock under F&O ban on NSEThere is no stock under the F&O ban for March 17. 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.