The key support level for Nifty is placed at 11,757.7, followed by 11,686. If the index continues moving up, key resistance levels to watch out for are 11,956.8 and 12,084.2.
Benchmark indices on February 24 posted massive losses amid rising concerns over the deadly impact of the coronavirus outbreak.
Sensex plunged 806.89 points or 1.96 percent, the biggest single day fall since February 1 this year to 40,363.23, while Nifty fell 251.50 points or 2.08 percent to 11,829.40.
"The short-term trend of Nifty continues to be negative and more weakness is likely in the next few sessions. The next crucial support to be watched around 11,600, before showing another round of minor upside bounce in the market," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.
On the upside, 11,900 is going to be a key overhead resistance for the next few sessions, he said.
The broader markets also fell in line with frontliners as the Nifty Midcap and Smallcap indices were down nearly 2 percent each.
All sectoral indices ended in the red with Nifty Metals (down 5.5 percent) and Auto (down 3.5 percent) falling the most, while the rest of indices declined 1-3 percent.
"We expect the markets to be choppy in the near term as global sentiments continue to remain muted. In addition, F&O expiry could also see some volatility during the week," Ajit Mishra, VP - Research at Religare Broking said.
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 11,757.7, followed by 11,686. If the index continues moving up, key resistance levels to watch out for are 11,956.8 and 12,084.2.
Nifty Bank
Nifty Bank closed at 30,455.10, down 1.58 percent. The important pivot level, which will act as crucial support for the index, is placed at 30,354.66, followed by 30,254.23. On the upside, key resistance levels are placed at 30,628.86 and 30,802.63.
Call options data
Maximum Call open interest (OI) of 47.79 lakh contracts was seen at the 12,000 strike price. It will act as a crucial resistance level in the February series.
This is followed by 12,200 strike price, which holds 45.38 lakh contracts in open interest, and 12,100, which has accumulated 37.66 lakh contracts in open interest.
Significant call writing was seen at the 12,000 strike price, which added 33.75 lakh contracts, followed by 11,900 strike price that added 20.03 lakh contracts and 12,100 strike price, which added 11.61 lakh contracts.
Call unwinding was witnessed at 12,400 strike price, which shed 5.4 lakh contracts, followed by 12,300 which shed 0.7 lakh contracts.
Put options data
Maximum Put open interest of 30.55 lakh contracts was seen at 11,800 strike price, which will act as crucial support in the February series.
This is followed by 11,700 strike price, which holds 27.82 lakh contracts in open interest, and 11,500 strike price, which has accumulated 24.76 lakh contracts in open interest.
Put writing was seen at the 11,700 strike price, which added 8.04 lakh contracts, followed by 11,600 strike, which added 6.99 lakh contracts and 11,800 strike which added 5.79 lakh contracts.
Put unwinding was seen at 12,000 strike price, which shed 12.84 lakh contracts, followed by 12,100 strike price which shed 7.49 lakh contracts and 12,200 strike, which shed 3.43 lakh contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
4 stocks saw long build-up
Based on open interest (OI) future percentage, here are the top stocks in which long build-up was seen.
51 stocks saw long unwinding
Based on open interest (OI) future percentage, here are the top 10 stocks in which long unwinding was seen.
82 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.
4 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 4 stocks in which short-covering was seen.
Bulk deals
(For more bulk deals, click here)
Analysts and Board Meetings
Satin Creditcare Network: Company will be meeting investors/analysts in Ahmedabad on February 25.
Sudarshan Chemical Industries: Board to consider declaration of the interim dividend if any on February 28.
Kalyani Steels: Board to consider declaration of interim dividend on February 27.
Suzlon Energy: Board to consider raising funds via equity on February 27.
IndiaMART InterMESH: Board to consider the proposal for payment of interim dividend, if any, on March 3.
CEAT: Board, on March 12, to consider payment of interim dividend.
The Ramco Cements: Board, on March 3, to consider payment of interim dividend.
Dilip Buildcon: Company representatives will host an Investor/Analyst day and site visit for institutional investors and sell-side analysts, on March 13 and 14.
Crompton Greaves Consumer Electricals: Company's officials will meet IIFL AMC on February 25.
Cummins India: Company has scheduled a plant visit for Prabhudas Lilladher on February 26.
Stocks in the news
HDFC Life Insurance, Info Edge, Bandhan Bank: These stocks to be included in NSE F&O segment w.e.f February 28.
Vodafone Idea: Department Of Telecommunications approved merger of Indus Towers with Bharti Infratel on February 21.
Hindustan Unilever: Board approves formation of new 100 percent owned subsidiary.
RBL Bank: RBI approved re-appointment of Rajeev Ahuja as Executive Director of bank for 3 years.
NTPC: Company gets CCI nod to acquire 74.50 percent of issued & paid-up share capital of THDC India.
Lumax Auto Technologies: Board approved the acquisition of roto moulded plastic auto component business of OK Play Group.
HDFC Bank: MD Aditya Puri sells 12.52 lakh shares of bank from February 11-12.
GTPL Hathway: Company acquired balance 4.82 percent equity shares of subsidiary GTPL Vidarbha Tele Link Private Limited.
JSW Steel: Company declared preferred bidder' in Jajang Iron Ore block auction in Odisha.
Ajanta Pharma: Promoter released pledge on 1 lakh shares (0.11 percent equity) on February 20.
Tourism Finance Corporation: IFCI sells entire stake in company from January 1-February 17.
Avanti Feeds: Board declares interim dividend of Rs 5 per share.
Bharat Forge: Board approved payment of second interim dividend for FY19-20 at Rs 2 per share.
Tech Mahindra: Company declared interim dividend of Rs 10 per share.
Tech Mahindra: Board approved proposal to acquire 100 percent stake in Zen3 Infosolutions (America).
FII and DII data
Foreign institutional investors (FIIs) sold shares worth Rs 1,160.9 crore, while domestic institutional investors (DIIs) bought shares of worth Rs 516.21 crore in the Indian equity market on February 24 , provisional data available on the NSE showed.
Fund flow
Stocks under F&O ban on NSE
Yes Bank is under the F&O ban for February 25. 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.Exclusive offer: Use code "BUDGET2020" and get Moneycontrol Pro's Subscription for as little as Rs 333/- for the first year.
