Friday's session witnessed a modest increase in equity benchmarks as concerns over the deteriorating health of the domestic economy continue.
Nifty closed above the important 5-day EMA which is a positive sign, but for this week, it closed flat with a negative bias.
S&P BSE Sensex rose 0.08 percent while Nifty50 fell 0.1 percent for the week ended November 15.
"We reaffirm our consolidated view of Nifty and suggest more focus on stock selection and position management," said Ajit Mishra, Vice President of Research, Religare Broking.
Mazhar Mohammad, Head of Strategy – Technical Research and Trade Advisors, Chartviewindia.in said that in the next session, if Nifty slipped below 11,891, then initially it should go to 11,802, and this violation would further increase selling pressure. with an ideal target placed around 11,700.
Nifty remained volatile throughout the week in a wider trading range of 11,800-12,000 and faced stiff resistance at the 12,000 mark which has acted as an important resistance level.
"The short-term trend for Nifty continues to be a rangebound with a slight negative bias. We expect a gentle start on Monday with some rangebound trading. As long as Nifty is trading below 12,050 levels, we expect some consolidation in the 11,800-12,000 zone range," said Nilesh Jain , derivative and technical analyst at Anand Rathi.
We have collected 15 data points to help you find profitable trades:
The main support and resistance levels for Nifty
According to the pivot chart, the main support level for Nifty is placed at 11,858.57, followed by 11,821.63. If the index continues to move up, the main resistance levels to watch for are 11,953.07 and 12,010.63.
Nifty Bank closed 0.84 percent up at 31,008.40. An important pivot level, which will act as important support for the index, is placed at 30,857.6, followed by 30,706.8. On the upside, the main resistance levels are placed at 31.162.3 and 31.316.2.
Call options data
The maximum open call interest (OI) of 22.14 lakh contracts is seen at the strike price of 12,000. This will act as an important resistance level in the November series.
This was followed by 12,200 strike prices, which held 15.76 lakh contracts with open interest, and 11,800, which had accumulated 13.90 lakh contracts with open interest.
Significant call writing was seen at the strike price of 12,300, which added a 1.43 lakh contract, followed by a strike price of 12,200 which added a 1.18 lakh contract and a strike of 12,100, which added 62,400 contracts.
The unwinding call was witnessed at the strike price of 12,400, which spilled 45,225 contracts, followed by 11,800 which spilled 30,675 contracts.
Enter option data
The maximum open interest in the contract of 21.92 lakh is seen at the strike price of 11,600, which will act as important support in the November series.
This is followed by a strike price of 11,500, which holds 20.86 lakh contracts with open interest, and 11,800 strike prices, which have accumulated 19.45 lakh contracts with open interest.
Put writing was seen at the strike price of 11,900, which added nearly 3.69 lakh contracts, followed by 12,000 strikes, which added 1.42 lakh contracts and 11,800 strikes, which added 1.15 lakh contracts.
There is no unwinding put.
Stocks with high shipping percentage
A high percentage of shipments shows that investors are showing interest in this stock.
75 shares experienced a long buildup
In all, 75 shares witnessed a long buildup on November 15. Based on the percentage of open interest rates (OI) in the future, here are the top 10 stocks where a long buildup is seen.
8 shares look long
57 shares experienced a short buildup
The increase in open interest, together with falling prices, mostly indicates a buildup of short positions. Based on the percentage of open interest (OI) in the future, here are the top 10 stocks where a short buildup is seen.
11 stocks witnessed short covering
According to available data, 11 stocks witnessed short covering. The decline in open interest, along with rising prices, mostly shows short covering.
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Upcoming analysts or board meetings / briefings
Board of each Alexander Stamps and Coins, Amtek Auto, Apollo Gujarat Industry, Mysore Paper Mill and Ok Play India will meet on November 18 to announce their quarterly results.
Board of each Border Information and Som Datt Finance will meet on November 18 for general purposes.
Stock in the news
Wockhardt: Cipla, Lab Reddy's Labs, Carlyle & Asian Investment Fund PAG is struggling to acquire certain business segments of the company, said the source.
MY HAI: The company added additional capacity and started pipeline production at the Telangana plant.
Tata Steel: S&P revised the outlook for the company's rating to be stable from positive.
Asian Oil Field Services: The company acquired an additional 51 percent stake in Optimum Oil & Gas, making it a subsidiary.
HCL Inflation: The HCL Learning subsidiary sells all ownership in its subsidiary HCL Insys, Singapore, to PCCW Solutions, Hong Kong, for SGD 57,628,787.
FII & DII data
Foreign institutional investors (FII) sold Rs 1,008.37 crore shares, while domestic institutional investors (DII) bought Rs 537.74 crore shares in the Indian equity market on November 15, preliminary data available on NSE showed.
Flow of funds
Stock under F&O ban on NSE
Just Dial came under the F&O ban for 18 November. Effects in the period of prohibition under the F&O segment include companies where security has crossed 95 percent of the market-wide position limit. Get access to India's fastest growing financial subscription service Moneycontrol Pro as small as Rs 599 for the first year. Use "GETPRO" code. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, see the Moneycontrol website or mobile application.