the key support level for Nifty is placed at 11,846.67, followed by 11,713.63. If the index continues moving up, key resistance levels to watch out for are 12,049.47 and 12,119.23.
Positive global cues and lower crude oil prices helped the Indian market close with strong gains on February 4.
Experts said, after the budget, the market has shifted its focus back to fundamentals and earnings. With strong PMI data, in-line January auto sales numbers and decent Q3FY20 earnings season so far, the sentiments have turned positive.
The BSE Sensex rose 917 points, or 2.30 percent, to 40,789.38 while the Nifty50 closed with gains of 272 points, or 2.32 percent, at 11,979.65.
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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 11,846.67, followed by 11,713.63. If the index continues moving up, key resistance levels to watch out for are 12,049.47 and 12,119.23.
Nifty Bank closed 2.21 percent up at 30,686.70. The important pivot level, which will act as crucial support for the index, is placed at 30,320.43, followed by 29,954.17. On the upside, key resistance levels are placed at 30,914.93 and 31,143.17.
Call options data
Maximum call open interest (OI) of 19.28 lakh contracts was seen at the 12,500 strike price. It will act as a crucial resistance level in the February series.
This is followed by 12,200 strike price, which holds 15.02 lakh contracts in open interest, and 12,000, which has accumulated 14.25 lakh contracts in open interest.
Significant call writing was seen at the 11,900 strike price, which added 1.77 lakh contracts, followed by 12,400 strike price that added 1.29 lakh contracts and 12,300 strike price, which added 1.12 lakh contracts.
Call unwinding was witnessed at 12,000 strike price, which shed 2.78 lakh contracts, followed by 11,700 which shed 2.28 lakh contracts.
Put options data
Maximum put open interest of 24.38 lakh contracts was seen at 12,000 strike price, which will act as crucial support in the February series.
This is followed by 11,500 strike price, which holds 21.42 lakh contracts in open interest, and 11,700 strike price, which has accumulated 17.91 lakh contracts in open interest.
Put writing was seen at the 11,900 strike price, which added 6.54 lakh contracts, followed by 11,600 strike, which added 2.93 lakh contracts.
Put unwinding was seen at 12,200 strike price, which shed 84,375 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
71 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.
8 stocks saw long unwinding
11 stocks saw short build-up
An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions.
53 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.
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Adani Enterprises, Adani Gas, Adlabs Entertainment, Ajanta Pharma, Andhra Bank, Apollo Tyres, Avadh Sugar & Energy, Berger Paints, Bosch, Brigade Enterprises, Cadila Healthcare, Cipla, Divi's Laboratories, DLF, Hindustan Petroleum Corporation and Indiabulls Housing Finance are among the companies that will release their quarterly earnings on February 5.
Stocks in the news
Bharti Airtel: Q3 loss at Rs 1,035 crore versus loss of Rs 23,044.9 cr, revenue rises 3.9 percent to Rs 21,947 cr QoQ.
Tata Global Beverages: Q3 profit jumps 21.4 percent to Rs 120.6 cr, revenue rises 2.6 percent to Rs 1,961.9 cr YoY.
IFCI: IFCI completed the stake sale of NSE and further received an amount of approximately Rs 178.65 cr.
Cadila Healthcare: US FDA clears subsidiary's Ahmedabad unit with no observation.
Sun Pharma: Company launched Absorica LD capsules in US for acne.
FII and DII data
Foreign institutional investors (FIIs) bought shares worth Rs 366.21 crore, while domestic institutional investors (DIIs), too, bought shares of worth Rs 601.86 crore in the Indian equity market on February 4, provisional data available on the NSE showed.
Stock under F&O ban on NSENo security is under the F&O ban for February 5. 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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