Benchmark indices closed in the red on May 5 due to profit-booking with the Sensex closing with a loss of 262 points at 31,453.51 and Nifty settling 88 points lower at 9,205.60.
"Sentiment continues to remain weak on the back of high valuations, profit-booking, weak results announced so far and no stimulus announcement by Government till now. Rating agency ICRA estimated that the India’s GDP might contract by as much as 20 percent in the June quarter and is expected to close 2020-21 down by up to 2 percent," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
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-months data and not of the current month only.
Key support and resistance level for Nifty
According to pivot charts, the key support level for Nifty is placed at 9,113.93, followed by 9,022.27. If the index starts moving up, key resistance levels to watch out for are 9,374.08 and 9,542.57.
The Nifty Bank closed 2.39 percent down at 19,271.75. The important pivot level, which will act as crucial support for the index, is placed at 18,915, followed by 18,558.2. On the upside, key resistance levels are placed at 19,925.9 and 20,580.
Call option data
Maximum call OI of 12.06 lakh contracts was seen at the 9,500 strike. It will act as crucial resistance in the May series.
This is followed by 9,000, which holds 5.22 lakh contracts, and 9,700 strikes, which has accumulated 3.1 lakh contracts.
Significant call writing was seen at the 9,700, which added 64,200 contracts, followed by 9,400 strikes that added 45,375 contracts.
Call unwinding was witnessed at 8,700, which shed 1,875 contracts.
Put option data
Maximum put OI of 24.44 lakh contracts was seen at 9,000 strike, which will act as crucial support in the May series.
This is followed by 9,500, which holds 11.94 lakh contracts, and 9,200 strikes, which has accumulated 4.79 lakh contracts.
Significant put writing was seen at 9,000, which added 1.52 lakh contracts, followed by 9,700 strikes, which added 1.34 lakh contracts.
Put unwinding was seen at 9,500, which shed 77,250 contracts, followed by 8,700 strikes that shed 46,575 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
23 stocks saw long build-up
Based on OI future percentage, here are the top 10 stocks in which long build-up was seen.
37 stocks saw long unwinding
Based on OI future percentage, here are the top 10 stocks in which long unwinding was seen.
67 stocks saw short build-up
An increase in OI, along with a decrease in price, mostly indicates a build-up of short positions. Based on the OI future percentage, here are the top 10 stocks in which short build-up was seen.
19 stocks witnessed short-covering
A decrease in OI, along with an increase in price, mostly indicates a short-covering. Based on OI future percentage, here are the top 10 stocks in which short-covering was seen.
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Results on May 6
Yes Bank, Adani Enterprises, TCI Developers, Kansai Nerolac Paints, JM Financial and Digicontent will release their quarterly earnings on May 6.
Stocks in the news
NIIT Technologies Q4: Profit fell to Rs 113.6 cr versus Rs 123.3 cr, revenue rose to Rs 1,109.3 cr versus Rs 1,073.4 cr QoQ.
Rallis India Q4: Profit dipped to Rs 0.65 cr versus Rs 1.52 cr, revenue rose to Rs 346.29 cr versus Rs 339.69 cr YoY.
Astec Lifesciences Q4: Profit rose to Rs 31.17 cr versus Rs 12.72 cr; revenue jumped to Rs 180.57 cr versus Rs 133.75 cr YoY.
Adani Ports Q4: Profit fell to Rs 334.39 cr versus Rs 1,285.38 cr, revenue down to Rs 2,921.2 cr versus Rs 3,082.49 cr YoY.
Apollo Pipes: Promoter Sameer Gupta bought 1,25,000 shares in the company at Rs 309.98 per share.
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 1,059.39 crore, while domestic institutional investors (DIIs) also sold shares worth Rs 995.3 crore in the Indian equity market on May 5, provisional data available on the NSE showed.
Stock under F&O ban on NSE
No security is under the F&O ban for May 6. 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.