The Indian market extended gains into the fourth consecutive session on January 14 with the benchmark indices hitting fresh record highs for the second day in a row.
Optimism around the Union Budget and better quarterly numbers of corporates continued underpinning investor sentiment.
"The market is moving ahead ignoring the sudden jump in CPI with an optimistic view on the Budget and earnings growth visible in the on-going Q3 results. The month-on-month bounce in inflation is expected to settle since a large part of the gains are one-time in nature, as indicated in the WPI which is still sober and in-line with the slow activities of the economy," said Vinod Nair, Head of Research, Geojit Financial Services.
Sensex settled 93 points, or 0.22 percent, higher at 41,952.63, while Nifty closed with a gain of 33 points, or 0.27 percent, at 12,362.30.
Nifty traded in a narrow range throughout the day only to pick up some momentum towards the end. The index has crossed 12,350-mark and experts say now the next target, for Nifty, on the upside is at 12,560 with an intermediate hurdle at 12,400.
"Any dip towards 12,300 is likely to attract fresh buying interest. Crucial support zone on the downside is placed near 12,250-12,200," said Gaurav Ratnaparkhi, Senior Technical Analyst at Sharekhan by BNP Paribas.
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 12,322.6, followed by 12,282.9. If the index continues moving up, key resistance levels to watch out for are 12,388.1 and 12,413.9.
Nifty Bank
Nifty Bank closed 0.33 percent down at 32,071.65. The important pivot level, which will act as crucial support for the index, is placed at 31,975.13, followed by 31,878.56. On the upside, key resistance levels are placed at 32,182.33 and 32,292.97.
Call options data
Maximum call open interest (OI) of 27.33 lakh contracts was seen at the 12,500 strike price. It will act as a crucial resistance level in the January series.
This is followed by 12,400 strike price, which holds 20.08 lakh contracts in open interest, and 12,600, which has accumulated 17.58 lakh contracts in open interest.
Significant call writing was seen at the 12,400 strike price, which added 1.99 lakh contracts, followed by 12,700 strike price that added 89,625 contracts.
Call unwinding was witnessed at 12,200 strike price, which shed 1.91 lakh contracts, followed by 12,600 which shed 49,425 contracts.
Put options data
Maximum put open interest of 45.73 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the January series.
This is followed by 12,200 strike price, which holds 28.09 lakh contracts in open interest, and 12,100 strike price, which has accumulated 18.35 lakh contracts in open interest.
Put writing was seen at the 12,300 strike price, which added 3.51 lakh contracts, followed by 12,200 strike, which added 2.91 lakh contracts.
Put unwinding was seen at 11,900 strike price, which shed 62,025 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
56 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.
12 stocks saw long unwinding
40 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.
39 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on open interest (OI) future percentage, here are the top 10 stocks in which short-covering was seen.
Bulk deals
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Upcoming analyst or board meetings/briefings
Tinplate: The board will meet on January 15 to consider and approve quarterly results.
Panorama Studios: The board will meet on January 15 to consider and approve the issuance of warrants and the preferential issue of shares.
Den Networks: The board will meet on January 15 to consider and approve quarterly results.
Lactose: The board will meet on January 15 to consider and approve the issuance of warrants.
Melstar Information Technologies: The board will meet on January 15 for general purposes.
Stocks in news:
Wipro: Q3 EBIT beat estimates, constant currency topline growth came at 1.8 percent QoQ; sees Q4 CC revenue growing 0-2 percent.
Mindtree: Q3 profit up 46 percent at Rs 197 crore, dollar revenue rose 1.5 percent; EBIT surged 33.2 percent QoQ.
Yes Bank: Extraordinary General Meeting of the bank is scheduled on February 7.
DHFL: IndusInd Bank declared company exposure as 'fraud' - reports CNBC-TV18.
Can Fin Homes: Canara Bank called off selling stake in the company.
Gayatri Projects: Catalyst Trust released a pledge on 74.47 lakh shares on January 10.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 205.56 crore, while domestic institutional investors (DIIs) sold shares of worth Rs 642.47 crore in the Indian equity market on January 14, provisional data available on the NSE showed.
Fund flow
Stock under F&O ban on NSE
No security is under the F&O ban for January 15. 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.
