Maximum put open interest of 50.42 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for the August series.
Bears continued to dominate Dalal Street for the second consecutive session on August 13 as the Nifty50 fell sharply, closing far below the psychological 11,400-mark following the Turkey crisis and further weakness in the rupee against the dollar.
The Nifty closed below the five-day EMA as well as nine-day EMA, which offered major support to Nifty in earlier corrections. The index formed a small bearish candle on the daily charts.
According to experts, closing below five and nine-day EMA indicated that there could be a significant fall in coming sessions. The next crucial support is placed at 11,340.
The Nifty50 after opening sharply lower and breaking 11,400 levels extended losses as the day progressed and hit an intraday low of 11,340.30. It did manage to claw back above 11,400 in afternoon trade, but failed to hold the same level and closed 73.70 points lower at 11,355.80.
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"Inline with negative global cues Indian bourses opened with a 60-point gap down but the intraday recovery towards the said gap area was utilised by market participants for a fresh sell off. Moreover this sell off resulted in the breach of a critical support available in the form of 9 Day EMA which offered support to Nifty50 during corrections in this leg of upmove from the lows of 10,550 suggesting the possibility of significant weakness going ahead," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory, Chartviewindia.in told Moneycontrol.
Hence, to avoid this kind of vulnerability it is critical for indices to bridge Monday's gap present in the zone of 11,406–11,419 and unless Nifty50 closes above 11,420 strength may not resume in the index, he said.
Besides, from the lows of 10,550, Nifty50 is moving in a well defined channel for last 32 sessions and on breakdown below this channel, whose support is present around 11,340, one can project a downside target placed around 11,034, he said.
However, in between critical support is placed between 11,235–11,185 kind of levels which seems to be the worst case target as of now, Mazhar said.
India VIX moved up by 4.08 percent at 13.37 levels. Spurt in VIX suggests that upside is going to be capped on immediate basis.
We have collated top 15 data points to help you spot profitable trades:
Key support and resistance level for Nifty
The Nifty closed at 11,355.75 on Monday. According to Pivot charts, the key support level is placed at 11,328.63, followed by 11,301.47. If the index starts moving upwards, key resistance levels to watch out are 11,394.63 and 11,433.47.
Nifty Bank
The Nifty Bank index closed at 27,794.40, down 329.85 points on Monday. The important Pivot level, which will act as crucial support for the index, is placed at 27,718.67, followed by 27,642.93. On the upside, key resistance levels are placed at 27,890.97, followed by 27,987.54.
Call Options Data
Maximum call open interest (OI) of 45.52 lakh contracts was seen at the 11,500 strike price. This will act as a crucial resistance level for August series.
This was followed by the 11,400 strike price, which now holds 29.21 lakh contracts in open interest, and 11,600, which has accumulated 28.30 lakh contracts in open interest.
Call writing was seen at the strike price of 11,400, which added 5.05 lakh contracts, followed by 11,500 which added 4.01 lakh contracts and 11,300 which added 0.76 lakh contracts.
Highest Call unwinding was seen at the strike price of 11,000, which shed 1.25 lakh contracts, followed by 11,800, which shed 0.72 lakh contracts.
Put Options data
Maximum put open interest of 50.42 lakh contracts was seen at the 11,000 strike price. This will act as a crucial support level for August series.
This was followed by the 11,200 strike price, which now holds 45.92 lakh contracts in open interest, and the 11,300 strike price, which has now accumulated 38.48 lakh contracts in open interest.
Put writing was seen at the strike price of 11,200 which added 2.59 lakh contracts, followed by 10,800 which added 2.51 lakh contracts.
Maximum Put unwinding was seen at the strike price of 11,400 which shed 3.93 lakh contracts, followed by 11,300 which shed 2.63 lakh contracts and 11,500 which shed 1.68 lakh contracts.
FII & DII data
Foreign institutional investors (FIIs) sold shares worth Rs 971.86 crore while domestic institutional investors bought shares worth Rs 216.29 crore in the Indian equity market on Monday, as per provisional data available on the NSE.
Fund Flow Picture:
Stocks with high delivery percentage:
High delivery percentage suggests that investors are accepting delivery of the stock, which means that investors are bullish on it.
26 stocks saw long buildup
34 stocks saw short covering
A decrease in open interest along with an increase in price mostly indicates short covering.
78 stocks saw a short build-up
An increase in open interest along with a decrease in price mostly indicates a build-up of short positions.
71 stocks saw long unwinding
Bulk Deals
NCL Industries: HDFC Mutual Fund bought 9.9 lakh equity shares of the company at Rs 147 per share on the NSE.
JBF Industries: ECL Finance sold 5,87,760 shares of the company at Rs 33.09 per share on the BSE.
(For more bulk deals, click here)
Analyst or Board Meet/Briefings
Sumeet Industries: Annual General Meeting is scheduled to be held on September 29.
Asian Granito India: Annual General Meeting is scheduled to be held on September 18.
IL&FS Transportation Networks: Annual General Meeting is scheduled to be held on September 4.
IL&FS Transportation Networks: Analyst call is scheduled on August 14.
Ashoka Buildcon: Company will be attending the investors conference organised by Spark Capital on August 14.
Repco Home Finance: Conference call with the analysts and investors is scheduled to be held on August 16.
Syngene International: Company scheduled meetings with analyst/institutional investors - ICICI Securities on August 21, Axis Capital India Opportunities on September 5, Ishana Capital on September 7 and Temasek Global Healthcare Forum on September 19.
Pfizer: Annual General Meeting of the Company is scheduled to be held on September 6.
Ramco Cements: Investors' meet is scheduled on August 14 at Mumbai.
Satin Creditcare Network: Conference Call with the Investors and Analysts is scheduled to be held on August 14.
Cochin Shipyard: The Management of CSL will be having concall on August 14 with the investors to discuss the financial results of the company.
Thyrocare Technologies: Conference call for the Indian and overseas analysts is arranged by management to discuss the company's financial results for June quarter on August 14.
Westlife Development: Company would be having one on one and group investor meetings in Hong Kong on August 14 and 15.
Gujarat Pipavav Port: Company will be attending the investors conference organised by Spark Capital on August 14.
Stocks in news
Results on Tuesday:
Tata Steel: Q1 profit more than doubles to Rs 1,933.8 crore versus Rs 921.1 crore; revenue rises 27.6 percent to Rs 37,832.8 crore versus Rs 29,657.3 crore (YoY).
Tata Chemicals: Q1 profit rises 8.2 percent to Rs 261.2 crore versus Rs 241.8 crore; revenue up 13 percent at Rs 2,769.1 crore versus Rs 2,451.5 crore (YoY).
Cupid: Q1 profit up 4.7 percent at Rs 4.5 crore versus Rs 4.3 crore; revenue down 8.5 percent at Rs 17.3 crore versus Rs 18.9 crore (YoY).
Shalby: Q1 profit up 59.2 percent at Rs 12.1 crore versus Rs 7.6 crore; revenue up 29.5 percent at Rs 116 crore versus Rs 89.6 crore (YoY).
Tribhovandas Bhimji Zaveri: Q1 profit down 77.6 percent at Rs 1.3 crore versus Rs 5.8 crore; revenue down 8.3 percent at Rs 410.9 crore versus Rs 448.3 crore (YoY).
Oil India: Q1 profit up 56.2 percent at Rs 703 crore versus Rs 450.2 crore; revenue up 35.8 percent at Rs 3,390 crore versus Rs 2,495.9 crore (YoY).
DHFL: Q1 profit up 34.9 percent at Rs 435 crore versus Rs 322.4 crore; revenue up 26.2 percent at Rs 3149.7 crore versus Rs 2495.9 crore (YoY).
LT Foods: Q1 profit up 13.5 percent at Rs 39.6 crore versus Rs 34.9 crore; revenue up 11.7 percent at Rs 840 crore versus Rs 752.2 crore (YoY).
Apex Frozen Foods: Q1 profit up 21.1 percent at Rs 21.2 crore versus Rs 17.5 crore (QoQ); revenue up 4 percent at Rs 239.3 crore versus Rs 230.1 crore (QoQ).
Ashoka Buildcon: Q1 profit up 12.3 percent at Rs 63.9 crore versus Rs 56.9 crore; revenue down 3.2 percent at Rs 683.7 crore versus Rs 706.3 crore (YoY).
Repco Home Finance: Q1 profit up 8.8 percent at Rs 60.9 crore versus Rs 56 crore; revenue up 4.7 percent at Rs 286.9 crore versus Rs 273.9 crore (YoY).
Lemon Tree Hotels: Q1 profit at Rs 2.2 crore versus loss of Rs 3.1 crore; revenue up 18.1 percent at Rs 127.9 crore versus Rs 108.3 crore (YoY).
Dredging Corporation: Q1 profit down to Rs Rs 2.9 crore versus Rs 4 crore; revenue down 11.4 percent at Rs 139.9 crore versus Rs 157.9 crore (YoY).
Parsvnath Developers: Q1 loss at Rs 26.9 crore versus loss of Rs 26.1 crore; revenue down 3.4 percent at Rs 47.8 crore versus Rs 49.5 crore (YoY).
SEAMAC: Q1 profit rises to Rs 20.14 crore versus Rs 1 crore; revenue increases to Rs 61.66 crore versus Rs 53.95 crore (YoY).
Gandhi Special Tubes: Q1 profit rises to Rs 11.30 crore versus Rs 8.84 crore; revenue increases to Rs 37.55 crore versus Rs 28.04 crore (YoY).
B L Kashyap and Sons: Q1 profit increases to Rs 11.87 crore versus Rs 5.05 crore; revenue falls to Rs 205.13 crore versus Rs 216.4 crore (YoY).
Hubtown: Q1 profit drops to Rs 0.4 crore versus Rs 1.74 crore; revenue slips to Rs 81.61 crore versus Rs 148.33 crore (YoY).
Mukand: Q1 loss at Rs 22.20 crore versus loss Rs 16.55 crore; revenue jumps to Rs 820.40 crore versus Rs 722.51 crore (YoY).
Usha Martin: Q1 profit at Rs 11.42 crore versus loss at Rs 96.77 crore; revenue rises to Rs 1,384.2 crore versus Rs 1,088.3 crore (YoY).
Viceroy Hotels: Q1 loss at Rs 2.59 crore versus loss Rs 1.25 crore; revenue falls to Rs 26.26 crore versus Rs 28.51 crore (YoY).
Burnpur Cement: Q1 loss at Rs 4.41 crore versus loss Rs 3.95 crore; revenue rises to Rs 19.58 crore versus Rs 18.61 crore (YoY).
Jindal Drilling and Industries: Q1 profit jumps to Rs 9.93 crore versus Rs 5.46 crore; revenue rises to Rs 53.16 crore versus Rs 39.85 crore (YoY).
Asian Granito India: Q1 profit falls to Rs 2.63 crore versus Rs 7.3 crore; revenue rises to Rs 207.71 crore versus Rs 203.3 crore (YoY).
LT Foods: Q1 profit rises to Rs 39.57 crore versus Rs 34.88 crore; revenue increases to Rs 840 crore versus Rs 752.24 crore (YoY).
Hind Rectifiers: Q1 profit at Rs 1.32 crore versus loss Rs 1.77 crore; revenue rises to Rs 43.28 crore versus Rs 18.20 crore (YoY).
Jai Corp: Q1 profit jumps to Rs 13.76 crore versus Rs 1.74 crore; revenue rises to Rs 158.84 crore versus Rs 139.6 crore (YoY).
Jindal Worldwide: Q1 profit rises to Rs 15.95 crore versus Rs 17.56 crore; revenue jumps to Rs 536.50 crore versus Rs 362.86 crore (YoY).
Talbros Automotive Components: Q1 profit jumps to Rs 6.21 crore versus Rs 2.73 crore; revenue rises to Rs 123.2 crore versus Rs 80.02 crore (YoY).
Ruchi Soya Industries: Q1 profit at Rs 22.61 crore versus loss Rs 286.24 crore; revenue falls to Rs 2,972.87 crore versus Rs 3,261.21 crore (YoY).
Sun Pharma: Company declares interim preference dividend of Rs 10 per preference share.
TCS: ALDO Group selects ignio, TCS' cognitive automation solution, to intelligently automate its IT operations.
Infosys: Company to open software development centre in West Bengal by investing Rs 100 crore.
Bank of India and Canara Bank: Government official told CNBC-TV18 that government extends term of G Padmanabhan, non-executive chairman of Bank of India by 2 years and TN Manoharan, non-executive chairman of Canara Bank by 2 years.
Bhushan Power: Sources told CNBC-TV18 that all three bidders for the company to submit final bids by end of August 13. JSW Steel, Tata Steel and Liberty House conveyed to interim resolution professionals their intention to submit bids.
Cadila Healthcare: Company acquires 51 percent stake in Windlas Healthcare.
Navneet Education: Board is scheduled on August 20 to consider and approve the proposal of buy back of the fully paid up equity shares of the company.
JSW Steel: Company's resolution plan for Vardhman Industries approved by the committee of creditors of Vardhman Industries.
Kirloskar Pneumatic Company: Company has received letter of award for design, engineering, supply, installation and commissioning gas compression facilities on LSTK basis from ONGC for an aggregate value of Rs 63.34 crore.
Finance Ministry stays its safeguard duty order on solar cells and modules import.
4 stocks under ban period on NSE
Securities in ban period for the next day's trade under the F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.
For August 14, Adani Enterprises, Adani Power, Jet Airways and Punjab National Bank are present in this list.