Profit-booking in light of weak global cues, rising coronavirus infections, imposition of new areas under lockdowns and flaring US-China tensions dragged Indian equities lower on July 14.
The Sensex closed 661 points, or 1.80 percent, lower at 36,033.06 and Nifty settled 195 points, or 1.81 percent, down at 10,607.35.
"June quarter earnings season started last week and is expected to be a complete washout. Management commentary would be keenly watched out for, which could keep the market volatile in the near-term," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.
He advises traders to stay cautious and investors to be more defensive in their portfolio approach. "Market valuations have become expensive at this level. The Nifty is now trading at forward P/E of 20 times, a 14 percent premium to its long period average (LPA). Technically, the Nifty has broken its rising support trend line and could continue to decline towards 10,500-10,450 levels."
We have collated 15 data points to help you spot profitable trades in the next session:
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 levels for the Nifty
According to pivot charts, the key support level for the Nifty is placed at 10,528.24, followed by 10,449.17. If the index moves up, key resistance levels to watch out for are 10,721.04 and 10,834.77.Nifty Bank
The Bank Nifty plunged 3.16 percent to close at 21,392.20 on July 14. The important pivot level, which will act as crucial support, is placed at 21,106.5, followed by 20,820.8. On the upside, key resistance levels are placed at 21,793.8 and 22,195.4.
Maximum call OI of 24.58 lakh contracts was seen at 11,000 strike, which will act as crucial resistance in the July series.
This is followed by 10,800, which holds 11.49 lakh contracts, and 10,700 strikes, which has accumulated 10.02 lakh contracts.
Significant call writing was seen at 10,600, which added nearly 3 lakh contracts, followed by 10,700 strikes, which added 2.76 lakh contracts.
Call unwinding was witnessed at 10,900, which shed 27,450 contracts, followed by 10,200 strikes, which shed 12,450 contracts.
Put option data
Maximum put OI of 18.47 lakh contracts was seen at 10,500 strike, which will act as crucial support in the July series.
This is followed by 10,200, which holds 12.67 lakh contracts, and 10,400 strikes, which has accumulated 11.74 lakh contracts.
Minor put writing was seen at 10,900, which added 17,250 contracts.
Put unwinding was witnessed at 10,600 strikes, which shed 3.28 lakh contracts, followed by 10,400 strikes, which shed 2.84 lakh contracts and 10,800 strikes, which shed 2.25 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
5 stocks saw long build-up
Based on the OI future percentage, here are the top 10 stocks in which long unwinding was seen.
49 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.
12 stocks witnessed short-covering
A decrease in OI, along with an increase in price, mostly indicates a short-covering.
Infosys, Bandhan Bank, Larsen & Toubro Infotech, Federal Bank, GTPL Hathway, Kavveri Telecom Products, Bartronics India, Mcnally Bharat Engineering Company, Mercator, Minda Corporation, Rolta India, Uttam Galva Steels, etc.Stocks in the news
Yes Bank: Its Rs 15,000 crore follow-on public offering will open for three days from July 15.
Bharti Airtel inks strategic alliance with Verizon to bring secure, world-class video conferencing solutions to businesses in India.
Wipro Q1: IT services revenue at Rs 14,595.6 crore versus Rs 15,296 crore, EBIT margin at 19.1 percent versus 17.6 percent QoQ.
Wipro has signed an agreement to acquire Brazil-based IVIA Servicos de Informatica.
Khadim India: Q4 loss at Rs 19.87 crore versus profit at Rs 1.2 crore, revenue at Rs 158.2 crore versus Rs 206.6 crore YoY.
Affle India: Company has appointed Martje Abeldt as Chief Revenue Officer of Affle RevX Platform.
AksharChem India: UBS Principal Capital Asia sold 58,868 shares at Rs 229.73 per share.Fund flow
Foreign institutional investors (FIIs) and domestic institutional investors (DIIs) sold shares worth Rs 1,565.62 crore and Rs 649.7 crore, respectively, in the Indian equity market on July 14, provisional data available on the NSE showed.Stock under F&O ban on NSENine stocks - Steel Authority of India (SAIL), Century Textiles & Industries, Equitas Holdings, Sun TV, Vodafone Idea, Punjab National Bank, Escorts, Canara Bank and Mindtree - are under the F&O ban for July 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.