Benchmark indices declined sharply on the very first day of the week (June 15) as bears dominated. Indian equities fell in line with global peers due to rising coronavirus cases, which investors fear could delay an economic recovery.
The Sensex slipped 552.09 points, or 1.63 percent, to close at 33,228.80, dented by banking and financial stocks.
The Nifty dropped 159.20 points, or 1.60 percent, to 9,813.70 and formed bearish candle, which resembles an Inside Bar, on the daily charts.
"Going forward, 9,544 would act as a strong support for the index and we may see an upmove towards 10,000 and 10,200 levels. Traders are advised to look for buying opportunities on every dip," Arpit Beriwal, Assistant Manager | Analyst-Technical at Motilal Oswal Financial Services, told Moneycontrol.
Despite the fall in the benchmark index, the market breadth remained neutral as there was some buying interest in smallcap and midcap counters.
Considering the recent run up in benchmark indices, Ajit Mishra, VP - Research at Religare Broking, feels some consolidation cannot be ruled out in the near term as the market would await more data on how demand pans out post the gradual re-opening of the economy.
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.
This is followed by 10,500, which holds 22.07 lakh contracts, and 10,200 strikes, which has accumulated 13.52 lakh contracts.
Significant call writing was seen at 10,500, which added 2.64 lakh contracts, followed by 10,200 that added 2.41 lakh contracts and 9,800 strikes, which added 1.9 lakh contracts.
Call unwinding was witnessed at 9,600, which shed 45,525 contracts, followed by 9,100 strikes, which shed 26,250 contracts.
Put Options data
This is followed by 9,600, which holds 24.02 lakh contracts, and 9,900 strikes, which has accumulated 21.91 lakh contracts.
Significant put writing was seen at 9,400, which added 1.23 lakh contracts, followed by 9,700 strikes, which added 1.04 lakh contracts.
Put unwinding was seen at 9,900, which shed 1.69 lakh contracts, followed by 10,000, which shed 1.22 lakh contracts and 10,100 strikes, which shed 0.52 lakh contracts.
Stocks with a high delivery percentage
12 stocks saw long build-up
65 stocks saw long unwinding
7 stocks witnessed short-covering
(For more bulk deals, click here)Results on June 16
HCL Infosystems: Q4 loss at Rs 70.94 crore versus loss Rs 43.90 crore, revenue at Rs 227.7 crore versus Rs 875.60 crore YoY.
Narayana Hrudayalaya: Q4 profit at Rs 11.96 crore versus Rs 37.15 crore, revenue at Rs 743 crore versus Rs 765 crore YoY.
Shilpa Medicare: Q4 profit at Rs 34.57 crore versus Rs 23.88 crore, revenue at Rs 220 crore versus Rs 199.51 crore YoY.
Gujarat Industries Power: Q4 profit at Rs 61.92 crore versus Rs 162.84 crore, revenue at Rs 342.50 crore versus Rs 364.2 crore YoY.
Shalby: Q4 loss at Rs 17.1 crore versus Rs 3.3 crore, revenue at Rs 108.88 crore versus Rs 113.5 crore YoY.
Ind-Swift Laboratories to launch API - Fexofenadine, an antihistamine drug in the US market.
Can Fin Homes: Q4 profit at Rs 90.91 crore versus Rs 66.14 crore, revenue at Rs 528.85 crore versus Rs 462.93 crore YoY.
Jump Networks: US-based technology investment group to infuse substantial equity funds in company.Fund flow