Unprecedented fall in crude oil prices, weak global cues and muted March quarter earnings dragged the Indian market benchmarks into the red on April 21.
Weak oil demand, due to pandemic and lockdown in countries continues to drag oil prices in negative territory which is impacting the global sentiments.
Sensex closed the day with a loss of 1,011 points, or 3.20 percent, at 30,636.71 while Nifty settled 280 points, or 3.03 percent, lower at 8,981.45.
"Technically, Nifty has closed below the psychological level of 9,000 and 8,821 is the next crucial support and if it gets breached, a sharper fall could ensue. On the upside, 9,091 could offer resistance," said Deepak Jasani, Head Of Research, HDFC Securities.
We have collated 14 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 8,912.43, followed by 8,843.42. If the index starts moving up, key resistance levels to watch out for are 9,047.43 and 9,113.42.
Nifty Bank closed 5.42 percent down at 19,409.35. The important pivot level, which will act as crucial support for the index, is placed at 19,141, followed by 18,872.7. On the upside, key resistance levels are placed at 19,784.5 and 20,159.7.
Call options data
Maximum call open interest (OI) of 16.68 lakh contracts was seen at the 9,000 strike price. It will act as a crucial resistance level in the April series.
This is followed by 9,500 strike price, which holds 15.13 lakh contracts in open interest, and 8,500, which has accumulated 6.7 lakh contracts in open interest.
Significant call writing was seen at the 9,000 strike price, which added nearly 3 lakh contracts, followed by 9,300 strike price that added nearly 2 lakh contracts.
A minor call unwinding was witnessed at 8,700 strike price, which shed 21,300 contracts.
Put options data
Maximum put open interest of 21.71 lakh contracts was seen at 8,500 strike price, which will act as crucial support in the April series.
This is followed by 9,000 strike price, which holds 21.39 lakh contracts in open interest, and 9,500 strike price, which has accumulated 8.20 lakh contracts in open interest.
Put writing was seen at the 8,500 strike price, which added 1.56 lakh contracts, followed by 8,600 strike, which added 1.18 lakh contracts.
Put unwinding was seen at 9,000 strike price, which shed 2.10 lakh contracts, followed by 9,200 strike price which shed 1.04 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
17 stocks saw long build-up
Based on open interest (OI) future percentage, here are the top 10 stocks in which long build-up was seen.
48 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
74 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.
7 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 April 22 for general purposes.
Indian Hotels: The board will meet on April 22 for general purposes.
Infomedia Press: The board will meet on April 22 to consider and approve audited results.
Reliance Industrial Infrastructure: The board will meet on April 22 to consider and approve quarterly results and dividends.
Tanla Solutions: The board will meet on April 22 to consider and approve the buyback of shares.
Stocks in the news
Federal Bank: Bank to buy an additional stake of up to 4 percent in IDBI Federal Life Insurance from IDBI Bank.
HDFC: Corporation reduced its retail prime lending rate on housing loans by 15 bps.
Tejas Networks Q4: Loss at Rs 126.53 cr versus profit at Rs 35.89 cr, revenue fell to Rs 54.57 cr versus Rs 273.13 cr YoY.
Shalimar Paints: Equity Intelligence India bought 1.84 percent stake, Assured Fin - Cap Pvt Ltd 1.28 percent in the company during March quarter.
Kalpataru Power Transmission: Company’s project sites in the country have been partially resumed.
Crompton Greaves Consumer Electricals: Company partially resumed operations at Goa and Vadodara plants in a phased manner.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 2,095.23 crore, while domestic institutional investors (DIIs) also sold shares of worth Rs 68.46 crore in the Indian equity market on April 21, provisional data available on the NSE showed.