Key support level for Nifty is placed at 11,816.6, while the key resistance is 11,925.1 if the index moves up.
The market benchmarks corrected on December 10 as investors took money off the table in the light of lacklustre global cues.
Sensex and Nifty ended with losses of about 0.7 percent each, with IT, FMCG, metal and PSU banks falling the most.
"After a brief respite yesterday, the bears were back in charge as the Indian indices ended the session with losses. This was mainly due to negative global cues and rising domestic concerns on whether the government will be able to maintain its fiscal deficit target due to lower tax collections," said Ajit Mishra, VP - Research, Religare Broking.
"We continue to maintain our cautious stance on the Indian markets due to stretched valuations. Going forward, trade developments between US-China, Fed rate decision and election in the UK (Thursday) would dictate the trend for markets, including India. On the domestic front, given the slower growth and higher inflation in the last month, the market participants would keep a close watch on CPI, IIP and WPI data scheduled this week," Mishra said.
We have collated 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
Nifty settled 0.68 percent lower at 11,856.80. According to the pivot charts, the key support level for Nifty is placed at 11,816.6, followed by 11,776.4. If the index moves up, key resistance levels to watch out for are 11,925.1 and 11,993.4.
Nifty Bank closed 0.50 percent down at 31,160.35. The important pivot level, which will act as crucial support for the index, is placed at 31,053.27, followed by 30,946.23. On the upside, key resistance levels are placed at 31,340.07 and 31,519.83.
Call options data
Maximum call open interest (OI) of 27.74 lakh contracts was seen at the 12,000 strike price. It will act as a crucial resistance level in the December series.
This is followed by 12,200 strike price, which holds 20.79 lakh contracts in open interest, and 12,100, which has accumulated 16.05 lakh contracts in open interest.
Significant call writing was seen at the 12,000 strike price, which added 4.36 lakh contracts, followed by 12,200 strike price that added 3.19 lakh contracts and 11,900 strike which added 3.05 lakh contracts.
Call unwinding was witnessed at 12,400 strike price, which shed 2 lakh contracts.
Put options data
Maximum put open interest of 32.31 lakh contracts was seen at 11,500 strike price, which will act as crucial support in the December series.
This is followed by 12,000 strike price, which holds 31.22 lakh contracts in open interest, and 11,800 strike price, which has accumulated 23.93 lakh contracts in open interest.
Put writing was seen at the 11,500 strike price, which added nearly 1.79 lakh contracts, followed by 11,900 strike, which added 1.72 lakh contracts and 11,700 strike which added nearly 1.2 lakh contracts.
Put unwinding was seen at 12,000 strike price, which shed 1.64 lakh contracts, followed by 12,100 strike which shed 1.19 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
20 stocks saw long buildup
Based on open interest (OI) future percentage, here are the top 10 stocks in which long buildup was seen.
12 stocks saw long unwinding
115 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.
3 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short covering.
(For more bulk deals, click here)
Upcoming analyst or board meetings/briefings
The respective boards of Alfred Herbert (India), Enbee Trade and Finance, Finkurve Financial Services and Ventura Guaranty will meet on December 11 to consider and approve their quarterly results.
The respective boards of Jyot International Marketing, Maa Jagdambe Tradelinks, Manvijay Development Company, Mold-tek Technologies, Panth Infinity, QGO Finance and TCM will meet on December 11 for general purposes.
The board of Almondz Global Securities will meet on December 11 to consider and approve quarterly results and the merger of one of its wholly-owned subsidiary.
The board of RSWM will meet on December 11 to consider the right issue of equity shares.
Stocks in the news
Yes Bank: The board is willing to favourably consider the offer of $500 million of Citax Holdings and Citax Investment Group. The binding offer of $1.2 billion submitted by Erwin Singh Braich / SPGP Holdings continues to be under discussion.
Mahindra CIE Automotive: The company has appointed Anil Haridass as Executive Director.
GHCL: India Ratings & Research has affirmed "IND A1+" to GHCL for issuance of commercial paper.
Piramal Enterprises: Competition Commission of India approved the subscription of compulsorily convertible debentures of the company by Canadian pension fund CDPQ.
Future Supply Chain: Competition Commission of India approved the purchase by Nippon Express of 22 percent shares of India’s Future Supply Chain.
IDBI Bank: Board approved the sale of up to 49 percent stake in subsidiaries IDBI Capital and IDBI Intech.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 366.79 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 338.4 crore in the Indian equity market on December 10, provisional data available on the NSE showed.
Stock under F&O ban on NSEThere is no stock under the F&O ban for December 11. 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.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.