The Indian market saw a surge in sales on Friday amid Omicron fears as Sensex fell more than 765 points and Nifty50 dropped the key 17,200 mark level, led by banking, metals and auto stocks.
At the sector level, selling was visible in almost all indexes such as banking, automotive, financial, FMCG, IT, metal, pharma and real estate, while buying interest was only visible in the media on the NSE. .
Gaurav Ratnaparkhi, Head of Technical Research at Sharekhan by BNP Paribas, said: “The Nifty posted a positive weekly close after falling sharply over the past two weeks. The index posted profits on December 3, after a brief rally. “
“On the upper side, the 17,500 level acted as a key barrier, prompting sell activity. Nonetheless, the selling pressure has eased near an uptrend line on the hourly chart. Going forward, 17100 – 17000 is a key support area that can attract new buying support, ”he added.
“The low point of the week of 16782 has become crucial support. Until the low holds, the index may witness some base formation, which may then lead to further recovery in the short to medium term, Ratnaparkhi also said in a comment.
Here is a list of 12 data points that will help you make a profitable trade.
Main support and resistance levels for Nifty50:
The Nifty50 closed 1.18% lower at 17,196. Support for the index’s key pivot points (Fibonacci) is placed at 17171, 17098, 16980, and while resistance is placed at 17407, 17480 and 17598 .
Main support and resistance levels for Nifty Bank:
NiftyBank closed 0.85% lower at 36,197. Support for the index’s key pivot points (Fibonacci) is placed at 36069, 35885, 35586 while resistance is placed at 36666, 36850 and 37149.
Gross gross interest:
Open interest refers to the number of open or pending contracts in NSE futures trading at any given time. A seller and a buyer together create a contract.
Here the gross values of the open interest positions taken by the four participants, i.e. clients are clients, are individual retail investors who invest in derivatives, DIIs are domestic individual investors, FIIs are investors Foreign Institutional and Pro are the owners and brokerage firms that trade. in their own name.
On the options front, the maximum Call OI is at 18000 then 19000 strike while the Put OI Maximum is at 17000 then 16000 strike. The call entry is seen at 17300 then 18000 strike while the Put entry is seen at 17300 then 17000 strike.
“Options data suggests a wider trading range between 16,800 and 17,700 zones”, Chandan Taparia, vice president | Analyst-Derivatives at Motilal Oswal Financial Services Limited, said.
29 Stocks seeing new long positions:
If the price rises and open interest rises, participants have more long positions.
57 actions demonstrating long coverage:
If the price goes down and the open interest goes down, then the participants hedge their contracts for a long time.
59 securities subject to short positions:
If the price goes down and the open interest goes up, then participants have more short positions.
44 actions showing short coverage:
If the price increases and the open interest decreases, then participants do not hedge their contracts.
Foreign portfolio investors (REITs) remained net sellers for Rs 3,356.17 crore in Indian markets, while domestic institutional investors (DII) were net buyers at Rs 1,648.79 crore, according to provisional data from the NSE.
FII index and F&O stock:
Silgo Retail Limited: Gautam Kumar Chordia has given up 3,4001 shares of the company at a weighted average price of Rs 34.98 per share on the NSE, according to wholesale transaction data.
Kirloskar Oil Eng Ltd: Nalanda India Equity Fund Ltd sold 20 21,814 shares of the company at the weighted average price of Rs 184.88 per share on the NSE, according to wholesale transaction data.
National Highway Infra Trust: ICICI Bank Ltd. (Trading) sold 84,000,000 shares of the company at a weighted average price of Rs 101.61 per share on the NSE, according to wholesale trading data.
Nakoda Group of Industries: Panjwani Pradeep Omprakash sold 69,611 shares of the company at a weighted average price of 136.15 rupees per share on the NSE, according to wholesale transactions data.
Stocks under F&O ban on NSE
Two stocks: Indiabulls Housing Finance and Idea placed under F&O ban on Monday. Securities subject to the blackout period in the M&O segment include companies in which the security has exceeded 95% of the market-wide position limit.
(Disclaimer: The views / suggestions / advice expressed here in this article are solely by investment experts. Zee Business suggests that its readers consult their investment advisers before making a financial decision.)