Key benchmark indices extended their losses for the sixth straight trading session on October 7, dragged by selling pressure in IT and auto stocks.
"Negative global cues spoiled investors' sentiment. Investors also awaited cues from quarterly earnings and industrial output data due this week," said Standard Chartered in a note.
Sensex closed 141 points, or 0.38 percent lower, at 37,531.98, with 22 stocks in the red and eight in the green, while the Nifty index settled 48 points, or 0.43 percent, lower at 11,126.40. Among the 50 stocks in the index, 32 suffered losses.
"Nifty is once again trading near its previous breakout zone of 11,080-11,060 zone, making it good support for the near-term. If the index manages to hold the said levels, we may see a good bounce towards 11,250 in the near-term," said Rohit Singre, Senior Technical Analyst at LKP Securities.
We have collated 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
According to the pivot charts, the key support level for Nifty is placed at 11,081.47, followed by 11,036.53. If the index starts moving up, key resistance levels to watch out for are 11,202.57 and 11,278.73.
Nifty Bank closed with a nominal gain of 0.13 percent at 27,767.55. The important pivot level, which will act as crucial support for the index, is placed at 27,495.54, followed by 27,223.47. On the upside, key resistance levels are placed at 28,112.43 and 28,457.27.
Call options data
Maximum call open interest (OI) of 25.26 lakh contracts was seen at the 11,500 strike price. It will act as a crucial resistance level for the October series.
This is followed by 11,200 strike price, which holds 21.95 lakh contracts in open interest, and 11,600, which has accumulated 17.06 lakh contracts in open interest.
Significant call writing was seen at the 11,200 strike price, which added 3.22 lakh contracts, followed by 11,300 strike price that added 1.13 lakh contracts.
A minor call unwinding was witnessed at 10,600 strike price, which shed 1,050 contracts.
Put options data
Maximum put open interest of 27.43 lakh contracts was seen at 11,000 strike price, which will act as crucial support in October series.
This is followed by 11,200 strike price, which holds 15.69 lakh contracts in open interest, and 11,500 strike price, which has accumulated 12.48 lakh contracts in open interest.
Put writing was seen at the 11,000 strike price, which added 3.12 lakh contracts, followed by 11,200 strike, which added 2 lakh contracts.
Put unwinding was seen at 11,400 strike price, which shed 91,425 contracts, followed by 11,600 strike that shed 39,300 contracts and 11,300 that shed 31,575 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
14 stocks saw long buildup
50 stocks saw long unwinding
Based on the lowest open interest (OI) future percentage point, here are the top 15 stocks in which long unwinding was seen.
58 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 15 stocks in which short build-up was seen.
27 stocks witnessed short-covering
As per available data, 27 stocks witnessed short-covering. A decrease in open interest, along with an increase in price, mostly indicates a short covering. Based on the lowest open interest (OI) future percentage point, here are the top 15 stocks in which short-covering was seen.
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Upcoming analyst or board meetings/briefings
The respective boards of Bhakti Gems and Jewellery, Manvijay Development Company and Vishal Bearings will meet on October 9 for general purposes.
The respective boards of Goa Carbon, Hexa Tradex, Jupiter Industries and Leasing, Nath Pulp & Paper Mills, Rama Pulp & Papers and Umiya Tubes will meet on October 9 to consider and approve the unaudited financial results of the company for September quarter.
The committee of directors of Union Bank of India will meet on October 9 to consider and approve the issuance of equity shares on a preferential basis to the government.
Stocks in news
DHFL: Leading depository CDSL has frozen shareholding of the promoters of debt-ridden mortgage lender DHFL due to a delay in the announcement of the company's financial earnings, PTI reported.
Aurobindo Pharma: USFDA concluded inspection of Unit 7 of the manufacturing facility with 7 observations.
SJVN: The government shelved a proposal to sell the company's stake to NTPC for now.
Tata Motors: JLR's July-September retail sales fall 0.7 percent to 1.28 lakh units YoY.
Titan: Q2 jewellery retail sales grow 7 percent, but revenues as per financials declined 2 percent YoY substantially due to the adverse impact of the hedges matured during the quarter.
TCS: Pandora partners with TCS for its digital transformation.
NMDC: The company said it is considering raising funds through the debt market. The board of directors will meet on October 11 to consider this.
Talwalkars Healthclubs: Company defaulted of Rs 2.38 crore towards interest and principal of Rs 25 crore of loan taken from Lakshmi Vilas Bank.
Minda Industries: The company has acquired Germany based firm Delvis Group.
Mahindra Lifespace Developers: The company has launched its residential project, 'Vicino' at Andheri (East), Mumbai.
Gujarat Gas: Rating firm CARE has reaffirmed "CARE AA" with a positive outlook on long-term bank facilities and "CARE A1+" with a positive outlook on short-term bank facilities.
Reliance Power: The company has disclosed the reasons for the encumbrance of shares.
Yes Bank: Promotor Rana Kapoor has informed the exchange regarding the reason for encumbrance.
Walchandnagar Industries: CARE has revised ratings on the company's long-term and short-term bank facilities.
Gateway Distriparks: India Ratings have reaffirmed the credit ratings of the company's long-term borrowings.
FII & DII data
Foreign institutional investors (FIIs) sold shares worth Rs 494.21 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 904.82 crore in the Indian equity market on October 7, as per provisional data available on the NSE.
No stock under ban period on NSE
There is no stock under the F&O ban for October 9. 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.