The market continued to remain volatile throughout the session and ended at record closing high on August 16, supported by metals, Bajaj Finance, HDFC Group and Reliance Industries.
The BSE Sensex rose 145.29 points to 55,582.58, while the Nifty50 climbed 33.90 points to 16,563 and formed bullish candle on the daily charts.
"Despite this positive sentiment, advance/decline ratio still remained negative with 2 stocks heading south for single stock which closed in positive terrain hinting broader markets are on profit booking mode by making use of this rally. Moreover, recent rally from the lows of 16,162 levels to a high of 16,589 dragged certain momentum oscillators into the overbought zone," Mazhar Mohammad, Chief Strategist – Technical Research & Trading Advisory at Chartviewindia.in told Moneycontrol.
Hence some caution is warranted on the part of bulls, though there are no apparent sell signals on lower time frame charts, he feels.
In next session if Nifty slips below 16,480 levels then sideways trend with negative bias may prevail for the day, according to him.
Therefore, considering overbought nature along with narrow market pariticipation, Mazhar Mohammad advised traders to book profits if index slips below 16,480 levels.
The broader markets remained under pressure with the Nifty Midcap 100 index falling 0.34 percent and Nifty Smallcap 100 index declining 0.78 percent.
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-month data and not of the current month only.
Key support and resistance levels on the Nifty
According to pivot charts, the key support levels for the Nifty are placed at 16,499.47, followed by 16,435.84. If the index moves up, the key resistance levels to watch out for are 16,608.07 and 16,653.04.
Nifty Bank
The Nifty Bank declined 74.85 points to 36,094.50 on August 16. The important pivot level, which will act as crucial support for the index, is placed at 35,997.4, followed by 35,900.3. On the upside, key resistance levels are placed at 36,226.6 and 36,358.7 levels.
Call option data
Maximum Call open interest of 26.51 lakh contracts was seen at 16500 strike, which will act as a crucial resistance level in the August series.
This is followed by 17000 strike, which holds 17.41 lakh contracts, and 16000 strike, which has accumulated 14.52 lakh contracts.
Call writing was seen at 17200 strike, which added 3.44 lakh contracts, followed by 16800 strike, which added 2.18 lakh contracts and 16900 strike which added 2.01 lakh contracts.
Call unwinding was seen at 16400 strike, which shed 1.31 lakh contracts, followed by 16300 strike which shed 1.3 lakh contracts, and 16200 strike which shed 66,550 contracts.
Put option data
Maximum Put open interest of 38.2 lakh contracts was seen at 16000 strike, which will act as a crucial support level in the August series.
This is followed by 16500 strike, which holds 34.96 lakh contracts, and 15800 strike, which has accumulated 27.54 lakh contracts.
Put writing was seen at 16500 strike, which added 6.4 lakh contracts, followed by 16400 strike which added 5.02 lakh contracts, and 16000 strike which added 2.63 lakh contracts.
Put unwinding was seen at 17000 strike, which shed 83,400 contracts.
Stocks with a high delivery percentage
A high delivery percentage suggests that investors are showing interest in these stocks.
27 stocks saw long build-up
An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the top 10 stocks in which a long build-up was seen.
50 stocks saw long unwinding
A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.
54 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 the open interest future percentage, here are the top 10 stocks in which a short build-up was seen.
34 stocks witnessed short-covering
A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on the open interest future percentage, here are the top 10 stocks in which short-covering was seen.
Bulk deals
Exxaro Tiles: Plutus Wealth Management LLP sold 2,57,235 equity shares in the company at Rs 127.67 per share, and Morgan Stanley Asia Singapore Pte sold 2,54,380 equity shares at Rs 127.07 per share on the NSE, the bulk deals data showed.
Krsnaa Diagnostics: Birla Sun Life Insurance Company acquired 2.3 lakh equity shares in the company at Rs 1,023.34 per share on the NSE, the bulk deals data showed.
Spencer's Retail: Welspun Multiventures LLP bought 5,21,565 equity shares in the company at Rs 104.5 per share on the NSE, the bulk deals data showed.
Windlas Biotech: ICICI Ltd Trading Account sold 1,22,350 equity shares in the company at Rs 417.62 per share on the NSE, the bulk deals data showed.
KNR Constructions: Promoter Kamidi Yashoda sold 20 lakh equity shares in the company at Rs 286.76 per share on the NSE, the bulk deals data showed.
Apex Frozen Foods: Navodya Enterprises sold 4,46,842 equity shares in the company at Rs 265.63 per share and SPV Traders offloaded 4 lakh equity shares in the company at Rs 269.79 per share on the NSE, the bulk deals data showed.
(For more bulk deals, click here)
Analysts/Investors Meeting
Nazara Technologies: The company's officials will meet Motilal Oswal Securities on August 17.
Kirloskar Oil Engines: The company's officials will meet MK Ventures, Bellwether Capital, Sundaram MF, Enam Holdings, Lucky Capital, Siddhesh Capital, and ICICI Prudential MF on August 17.
Prataap Snacks: The company's officials will meet investors in a 'Consumer Corporate Day' organised by Centrum Broking on August 17.
Indo Count Industries: The company's officials will meet analysts on August 17.
Supreme Industries: The company's officials will meet Nippon Life Asset Management on August 17.
Greaves Cotton: The company's officials will meet Union MF on August 17.
Gland Pharma: The company's officials will meet Franklin Templeton Investments on August 17, and William Blair Investment Management on August 18.
PDS Multinational Fashions: The company's officials will meet Motilal Oswal Group, ASK RJ, DHFL Pramerica Life, MetLife India, Ace Lansdowne, Ambika Fincap, and Roha Group on August 17.
NMDC: The company's officials will meet analysts and investors on August 17 post Q1FY22 results.
Shoppers Stop: The company's officials will meet analysts in Centrum Consumer Conference arranged by Centrum Broking on August 17.
Sharda Motor Industries: The company's officials will meet analysts and investors on August 18, to discuss financial performance.
Stocks in News
Indian Terrain Fashions: SBI Mutual Fund sold 1.77 lakh equity shares in the company through open market transaction on August 13, reducing shareholding to 5.31% from 5.74%.
HLE Glascoat: ICRA has upgraded rating to A (for long term facilities) and A2+ (for short term facilities) with a stable outlook.
Lupin: The company received tentative approval from USFDA for Brivaracetam tablets, which are indicated for the treatment of partial-onset seizures in patients four years of age and older.
Star Paper Mills: The company announced resignation of Sandeep Rastogi as CFO with a notice period of 3 months.
Suven Life Sciences: Suven Life Sciences announced Phase 3 clinical trial of SUVN-502 (Masupirdine), a 5-HT6 antagonist for treatment of agitation and aggression in Alzheimer's type dementias'.
Pradeep Metals: CRISIL reaffirmed its long term rating at BBB- and revised outlook to Positive from Stable.
Fund flow
FII and DII data
Foreign institutional investors (FIIs) net sold shares worth Rs 1,088.32 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 506.21 crore in the Indian equity market on August 16, as per provisional data available on the NSE.
Stocks under F&O ban on NSE
Seven stocks - Cadila Healthcare, Indiabulls Housing Finance, NALCO, Punjab National Bank, RBL Bank, SAIL and Sun TV Network - are under the F&O ban for August 17. 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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