By the afternoon of January 24, the market was seen losing its edge. It closed flat at the end of the trade. Despite good cues from Asian markets, the market turned weak ahead of the expiry of derivatives contracts on January 25. The Sensex closed at 60,979 with a gain of 37 points yesterday. At the same time, the Nifty fell 0.2 points to close at 18118.30. Nifty closed below the opening level and formed a bearish candle on the daily chart yesterday. Yesterday also Nifty was seen roaming in the range. In yesterday’s trade, there was slight pressure on the Broader market. The Nifty Mid and Smallcap indices closed down 0.4 per cent yesterday amid weak market breadth.
Nagraj Shetty of HDFC Securities says that we can see Nifty moving in a range in the short term. This range can remain between 18200-18000. For the last 5 trading sessions, we see Nifty moving in this range. We may see Nifty trading in this range for the next 1-2 sessions.
Here we are giving you some such figures on the basis of which it will be easy for you to catch profitable deals. Do note here that the open interest (OI) and volume figures of the stocks given in this story are the sum of three months data and not just for the current month.
Key Support and Resistance Levels for Nifty
The first support for Nifty is located at 18086 followed by other major supports at 18057 and 18010. If the index moves higher, it may face resistance at 18180, then 18208 and 18255.
The first support for Nifty Bank is located at 42632 followed by 42523 and 42346. If the index continues to move upwards, it may face resistance at 42986, then 43096 and 43273.
call option data
Maximum Call open interest of 1.336 crore contracts has been seen at 18100 strike, which will act as an important resistance level in the January series. After this, the maximum call open interest of 1.332 crore contracts is being seen at 18200. Whereas, the strike of 18500 has a call open interest of over 1.12 crore contracts.
Call writing was seen at 18200 strike. 31.07 lakh contracts were added on this strike. After that 23.94 lakh contracts have been seen added on 18300 also.
Maximum call unwinding was seen at 18700 strike. After this, maximum call unwinding was seen at 19000 and then 18600 strike.
put option data
Maximum Put open interest of 1.028 crore contracts has been seen at 18000 strike, which will act as an important support level in the January series. After this, maximum Put open interest of 1.013 crore contracts is being seen at 18100. Whereas, there is an open interest of 74.42 lakh contracts in strike of 17900.
Put writing was seen at the strike of 17,900. 16.18 lakh contracts were added on this strike. After that 13.63 lakh contracts have been seen added on 18000 also. While 58050 contracts are linked on 18200.
Maximum put unwinding was seen at 17600 strike. This was followed by maximum put unwinding at the strike of 17700 and then 17500.
Shares with high delivery percentage
These include the names of HDFC, ONGC, Kotak Mahindra Bank, ITC and Sun Pharmaceutical Industries. High delivery percentage indicates that investors are showing interest in those shares.
FII and DII figures
On January 24, foreign institutional investors sold Rs 760.51 crore in Indian markets. At the same time, domestic institutional investors bought Rs 1144.75 crore on this day.
Shares coming under F&O ban on NSE
No stock is under F&O ban on NSE as on 25th January. Let us tell you that the stocks included in the F&O segment are put in the ban category in case the position in the securities exceeds their market wide position limit.
Long build-up seen in 20 stocks
An increase in open interest as well as an increase in prices is generally considered to be the creation of long positions. Based on open interest future percentage, 20 stocks saw long build-up in yesterday’s trade. These include the names of Bajaj Auto, HCL Technologies, Britannia Industries, Maruti Suzuki and Atul.
Long unwinding seen in 82 stocks
Long unwinding is usually indicated by a fall in open interest as well as a fall in prices. Based on open interest future percentage, top 5 stocks which saw maximum unwinding of long positions in yesterday’s trade include L&T Finance Holdings, JK Cement, Gujarat Gas, Coal India and Cummins India.
Short build-up seen in 54 stocks
Short build-up is usually indicated by an increase in open interest as well as a fall in prices. Top 10 stocks that saw maximum short build-up in yesterday’s trade based on open interest future percentage include Container Corporation of India, ONGC, Indus Towers, SBI Card and Deepak Nitrite.
Short covering seen in 35 stocks
Short covering is generally indicated by a fall in open interest as well as a rise in prices. Top 10 stocks which saw maximum short covering in yesterday’s trade based on open interest future percentage included Delta Corp, PVR, IndiaMART InterMESH, L&T Technology Services and Max Financial Services.
Today on 25 Jan Tata Motors, Bajaj Auto, Dr Reddy’s Laboratories, Cipla, Amara Raja Batteries, Arvind, Ceat, Chennai Petroleum Corporation, Dixon Technologies, DLF, Embassy Office Parks REIT, Equitas Holdings, Go Fashion, Indraprastha Gas, Indian Bank, December 2022 quarter results of Jyothy Labs, Olectra Greentech, Patanjali Foods, Tata Elxsi, TeamLease Services, Torrent Pharmaceuticals and VIP Industries will come.