The market closed the rangebound session on a flat note on October 13 as the rally in IT stocks supported the market, but selling in banking and financials, pharmaceuticals, select automobiles and fast moving consumer goods (FMCG) stocks capped the gains.
The Sensex rose 31.71 points to close at 40,625.51 and the Nifty gained 3.50 points at 11,934.50, forming a Doji pattern on the daily charts as the closing was near its opening levels.
"Normally, a formation of Doji after a reasonable up move or down move could be considered as a warning signal for a trend reversal. Having formed this pattern beside the last negative candle could mean less predictive value for this Doji pattern," Nagaraj Shetti, Technical Research Analyst at HDFC Securities, told Moneycontrol.
"The uptrend of the last seven-to-eight sessions is intact. The consolidation movement of the last couple of sessions could be considered as a corrective move of the said uptrend. This signal a lack of selling participation at the swing highs, post the sharp up move. Similar consolidation pattern was formed in the past during the latter part of September (29-30) and eventually resulted in an uptrend continuation pattern," he explained.
The broader markets continued to underperform benchmarks with the Nifty Midcap index falling half a percent and Smallcap down 0.2 percent as five shares declined for every four advancing shares on the NSE.
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.Key support and resistance levels on the Nifty
This is followed by 12,000, which holds 17.67 lakh contracts, and 12,200 strikes, which has accumulated 13.26 lakh contracts.
Call writing was seen at 11,900, which added 1.05 lakh contracts, followed by 12,500, which added 62,100 contracts, and 12,300 strikes, which added 46,800 contracts.
Call unwinding was seen at 11,200, which shed 33,075 contracts, followed by 11,500, which shed 22,950 contracts, and 11,400 strikes, which shed 22,125 contracts.
Put option data
This is followed by 11,000, which holds 22.62 lakh contracts, and 11,600 strikes, which has accumulated 19.76 lakh contracts.
Put writing was seen at 11,600, which added 4.7 lakh contracts, followed by 11,900, which added 2.6 lakh contracts, and 11,700 strikes, which added 1.65 lakh contracts.
Put unwinding was witnessed at 11,200, which shed 1.12 lakh contracts, followed by 11,000 strikes, which shed 37,425 contracts.
Stocks with a high delivery percentage
17 stocks saw long build-up
36 stocks saw long unwinding
25 stocks witnessed short-covering
(For more bulk deals, click here)Results on October 14
SRF: The QIP committee of the company is scheduled to be held on October 16 to determine the issue price.
PNB Gilts: CRISIL re-affirmed its credit rating of 'A1+' as assigned to its Rs 1,000 crore commercial paper programme.
Karnataka Bank reported a profit of Rs 119.44 crore in Q2 FY21 against Rs 105.91 crore, net interest income increased to Rs 575 crore from Rs 498.7 crore YoY.
CSL Finance's board approved the issuance of non-convertible debentures (NCDs) aggregating to Rs 10 crore on a private placement basis.
TVS Motor Company: LIC increased stake in company to 4.87 percent in September quarter from 3.18 percent in the June quarter.Fund flow