The Indian market is expected to tread sideways this week amid a volley of factors, including rising cases of coronavirus, souring relations between the US and China and deteriorating macroeconomic environment.
Besides, most bank and financial stocks may also extend their losses of the previous session after the Reserve Bank of India (RBI) announced the extension of loan moratorium by three months.
RBI’s decision to extend the moratorium till August 31 could turn out to be a major negative for the non-banking financial companies (NBFCs), Emkay Global said in a note.
On the technical front, experts point out the broader structure of the market continues to remain weak as Nifty is making a lower top and lower bottom formation.
In the previous trading session, Nifty formed a Doji pattern on the daily chart which indicates indecisiveness among the bulls and the bears.
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-months data and not of the current month only.
Key support and resistance level for Nifty
According to pivot charts, the key support level for the Nifty is placed at 8,955.33, followed by 8,871.42. If the index moves up, key resistance levels to watch out for are 9,136.38 and 9,233.52.
Nifty Bank
The important pivot level, which will act as crucial support for the Nifty Bank index, is placed at 16,938.54, followed by 16,598.17. On the upside, key resistance levels are placed at 17,785.73 and 18,292.57.
Call option data
Maximum call OI of 25.08 lakh contracts was seen at 9,500 strike, which will act as crucial resistance in the May series.
This is followed by 9,300, which holds 19.40 lakh contracts, and 9,000 strikes, which has accumulated 16.64 lakh contracts.
Significant call writing was seen at the 9,000, which added 4.5 lakh contracts, followed by 9,300 strikes that added 1.87 lakh contracts and 9,500 strikes that added 1.86 lakh contracts
Call unwinding was witnessed at 8,500, which shed 14,400 contracts.
Put option data
Maximum put OI of 32.76 lakh contracts was seen at 9,000 strike, which will act as crucial support in the May series.
This is followed by 8,500, which holds 29.16 lakh contracts, and 8,800 strikes, which has accumulated 21.67 lakh contracts.
Significant put writing was seen at 8,800, which added 6.05 lakh contracts, followed by 8,600 strikes, which added 5.53 lakh contracts.
Put unwinding was seen at 9,100, which shed 4.24 lakh contracts, followed by 9,200 strikes that shed 44,175 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
39 stocks saw long build-up
Based on the OI future percentage, here are the top 10 stocks in which long build-up was seen.
16 stocks saw long unwinding
Based on the OI future percentage, here are the top 10 stocks in which long unwinding was seen.
81 stocks saw short build-up
An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions. Based on the OI future percentage, here are the top 10 stocks in which short build-up was seen.
10 stocks witnessed short-covering
A decrease in OI, along with an increase in price, mostly indicates a short-covering.
Bulk deals
(For more bulk deals, click here)
Results on May 26 Torrent Pharmaceuticals, 8K Miles Software, Automotive Axles, Blue Dart Express, Coromandel International, Deepak Nitrite, Firstsource Solutions, Jaiprakash Power Ventures, Kewal Kiran Clothing, Menon Bearings, Max Financial Services, Newgen Software Technologies, Praj Industries, Shanthi Gears, SH Kelkar and Company, VIP Industries, Visaka Industries, and Wonderla Holidays.
Stocks in the news Birla Corporation Q4: Profit rose to Rs 195 crore versus Rs 128 crore, revenue fell to Rs 1,690 crore versus Rs 1,873 crore YoY.
WABCO India Q4: Profit fell to Rs 31.5 crore versus Rs 52 crore, revenue declined to Rs 405 crore versus Rs 663 crore YoY.
Bayer Cropscience Q4: Profit at Rs 31.5 crore versus loss at Rs 57.1 crore, revenue jumped to Rs 458.7 crore versus Rs 252.2 crore YoY.
Astec Lifesciences: ICRA reaffirmed its long-term rating at AA- and short-term rating at A1+.
IDFC First Bank Q4: Profit at Rs 71.54 crore versus loss at Rs 218 crore, NII rose to Rs 1,563.5 crore versus Rs 1,113 crore YoY.
Essel Propack Q4: Profit fell to Rs 48.61 crore versus Rs 52.38 crore, revenue dipped to Rs 689 crore versus Rs 694 crore YoY.
IIFL Finance: CARE e-affirmed rating at AA with a change in outlook from Stable to Negative.
KSK Energy Ventures: Manjul Saha, Chief Financial Officer, and Ranjith Kumara Shetty, Company Secretary, have resigned.
Ashiana Housing: Brickwork re-affirmed ratings for NCD of Rs 17 crore at BWR A+ (Stable Outlook).
Honeywell Automation Q4: Profit rose to Rs 111.14 crore versus Rs 84.12 crore, revenue fell to Rs 704.3 crore versus Rs 810.3 crore YoY.
UPL Q4: Profit fell to Rs 617 crore versus Rs 701 crore, revenue rose to Rs 11,141 crore versus Rs 8,892 crore QoQ.
RITES: Company signed Shareholders Agreement for acquiring 24 percent stake in Indian Railway Stations Development Corporation (IRSDC) for Rs 48 crore, with Rail Land Development Authority and IRCON International being the other equity partners.
JSW Steel Q4: Profit fell to Rs 231 crore versus Rs 1,523 crore, revenue fell to Rs 17,887 crore versus Rs 22,368 crore YoY.
JSW Steel: Company to raise up to Rs 7,000 crore via an issue of NCDs with warrants or equity shares and/or convertible securities (other than warrants) to qualified institutional buyers.
Orient Cement: Profit fell to Rs 44 crore versus Rs 62 crore, revenue declined to Rs 654.5 crore versus Rs 751 crore YoY.
Fund flow
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 1,353.9 crore, and domestic institutional investors (DIIs), too, sold shares worth Rs 344.16 crore in the Indian equity market on May 22, provisional data available on the NSE showed.
Stock under F&O ban on NSE
No stock is under the F&O ban for May 26. 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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