The market had a strong rebound with the benchmark indices rallying nearly a percent, following recovery in global peers and buying in FMCG, IT, Metals, Pharma and select banking & financials.
The BSE Sensex jumped 514.34 points to 59,005.27, while the Nifty50 climbed 165.10 points to 17,562 and formed bullish candle on the daily charts.
"A reasonable positive candle was formed on the daily chart with minor lower shadow. Technically, this pattern indicate an upside bounce in the market after a quick decline of last two sessions," said Nagaraj Shetti, Technical Research Analyst at HDFC Securities.
He further said smaller degree of positive chart pattern like higher tops and bottoms continued as per daily chart and Tuesday's low of 17,326 could now be considered as a new higher bottom of the sequence. "Hence one may expect further upside towards new all-time high in the near term."
According to him, the present upside bounce from initial moving average support could signal possibility of more upside towards 17,800 levels in the next few sessions. Immediate support is placed at 17,425 levels, he said.
The broader markets were mixed in trade as the Nifty Midcap 100 index was up 0.64 percent and Smallcap 100 index fell 0.14 percent.
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
According to pivot charts, the key support levels for the Nifty are placed at 17,399.3, followed by 17,236.6. If the index moves up, the key resistance levels to watch out for are 17,651.5 and 17,741.
The Nifty Bank rose 90.10 points to 37,235.80 on September 21. The important pivot level, which will act as crucial support for the index, is placed at 36,727.63, followed by 36,219.36. On the upside, key resistance levels are placed at 37,542.43 and 37,848.96 levels.
Call option data
Maximum Call open interest of 19.08 lakh contracts was seen at 17500 strike, which will act as a crucial resistance level in the September series.
This is followed by 18000 strike, which holds 18.82 lakh contracts, and 17700 strike, which has accumulated 15.40 lakh contracts.
Call writing was seen at 17000 strike, which added 72,525 contracts, followed by 18200 strike, which added 27,650 contracts and 18400 strike which added 14,950 contracts.
Call unwinding was seen at 17900 strike, which shed 1.46 lakh contracts, followed by 17800 strike, which shed 68,300 contracts, and 17500 strike which shed 67,550 contracts.
Put option data
Maximum Put open interest of 32.37 lakh contracts was seen at 17000 strike, which will act as a crucial support level in the September series.
This is followed by 17500 strike, which holds 24.64 lakh contracts, and 17200 strike, which has accumulated 18.71 lakh contracts.
Put writing was seen at 18000 strike, which added 2.07 lakh contracts, followed by 17400 strike which added 2.04 lakh contracts, and 17500 strike which added 1.84 lakh contracts.
Put unwinding was seen at 17700 strike, which shed 1.56 lakh contracts, followed by 17600 strike which shed 1.42 lakh contracts and 17300 strike which shed 33,350 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
74 stocks saw long build-up
An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the top 10 stocks in which a long build-up was seen.
7 stocks saw long unwinding
A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the 7 stocks in which long unwinding was seen.
20 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 the open interest future percentage, here are the top 10 stocks in which a short build-up was seen.
72 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on the open interest future percentage, here are the top 10 stocks in which short-covering was seen.
SBI Cards & Payment Services: Societe Generale acquired 85,06,095 equity shares in the company at Rs 1,021 per share, whereas Carlyle entity CA Rover Holdings sold 1.6 crore shares in the company at Rs 1,021.25 per share and 1.6 crore equity shares at Rs 1,021.01 per share on the NSE, the bulk deals data showed.
Websol Energy System: India Max Investment Fund sold 3,17,320 equity shares in the company at Rs 64.01 per share on the NSE, the bulk deals data showed.
Welspun Enterprises: Promoter entity Welspun Group Master Trust acquired 7.5 lakh equity shares in the company at Rs 103.36 per share on the NSE, the bulk deals data showed.
(For more bulk deals, click here)
Bodal Chemicals: The company's officials will interact with few Investors & Analysts on September 22.
Camlin Fine Sciences: The company's officials will meet investors in PhillipCapital - "Resurgent India virtual conference" on September 22.
Container Corporation of India: The company's officials will meet Premji Investment on September 23, and TT International Asset Management on September 24.
Stocks in News
MTAR Technologies: The company received NADCAP Certification for its 100% EOU & Unit 5 in Telangana for 12 months until November 2022.
Torrent Power: The company entered into share purchase agreement to acquire 100% stake in Surya Vidyut at an enterprises value of Rs 790 crore.
Nucleus Software: Board will consider buyback of shares on Friday.
Surya Roshni: The company has received order of Rs 41.22 crore for implementing of smart LED street lights and installation of centralized monitoring system with operation and maintenance from Greater Noida Industrial Development Authority (GNIOA).
Vikas Lifecare: Agro products division has received the largest single export order to date, amounting $1 million.
Shriram City Union Finance: Acacia II Partners LP & Others sold 3 lakh equity shares in the company via open market transaction, reducing shareholding to 3.01% from 3.46% earlier.Fund flow
FII and DII data
Foreign institutional investors (FIIs) net bought shares worth Rs 1,041.92 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 2,167.62 crore in the Indian equity market on September 21, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Five stocks - Indiabulls Housing Finance, Vodafone Idea, IRCTC, Punjab National Bank, and Sun TV Network - are under the F&O ban for September 22. 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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