15 key things to know before the opening bell


On July 1, the market started the week on a positive note, with the environment conducive for an uptrend. Nifty50 closed at a new all-time high of 24,142, up 131 points, following minor profit-booking earlier in the day. Experts expect the index to reach 24,200, followed by 24,500 in the coming sessions, provided it holds 24,000 as immediate support and 23,800 as crucial support. Here are 15 data points we have compiled to help you identify profitable trades:

Resistance based on pivot points: 24,165, 24,205, and 24,271

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Support based on pivot points: 24,034, 23,994, and 23,928

Special StructureNifty50 formed a bullish candlestick pattern after a red candle, with momentum indicators RSI (Relative Strength Index) and MACD (Moving Average Convergence Divergence) having a positive bias while it remained above the rising channel.

2) Key Levels for Bank Nifty

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Resistance based on pivot points: 52,653, 52,768, and 52,956

Support based on pivot points: 52,278, 52,163, and 51,976

Resistance based on Fibonacci retracement: 53,227, 54,267

Support based on Fibonacci retracement: 51,502, 50,462

Special StructureBank Nifty formed a bullish candlestick pattern on the daily chart but continued to form lower highs-lower lows for another session, which is a matter of concern.

3) Nifty Call Option Data

As per weekly options data, 25,000 strike has the maximum open interest (with 1.19 crore contracts). This level may act as a key resistance level for Nifty in the short term. This is followed by 24,500 strike (68.07 lakh contracts) and 24,700 strike (52.32 lakh contracts).

Maximum Call writing was witnessed at 25,000 strike, which added 17.78 lakh contracts, followed by 24,700 and 24,500 strikes, which added 15.54 lakh and 12.61 lakh contracts, respectively. Maximum Call unwinding was witnessed at 24,900 strike, which lost 10.31 lakh contracts, followed by 24,000 and 23,900 strikes, which lost 5.38 lakh and 1.54 lakh contracts, respectively.

4) Nifty Put Option Data

On the put side, maximum open interest was seen at 24,000 strike (with 76.92 lakh contracts), which could act as a key support level for Nifty. This was followed by 23,000 strike (65.08 lakh contracts) and 23,500 strike (61.26 lakh contracts).

Highest Put writing was witnessed at 24,000 strike, which added 21.94 lakh contracts, followed by 24,100 and 23,300 strikes, which added 19.24 lakh and 15.17 lakh contracts, respectively. Put unwinding was witnessed at 25,000 strike, which reduced 3,150 contracts.

5) Bank Nifty Call Option Data

According to weekly options data, maximum call open interest was seen at 53,000 strike with 37.57 lakh contracts. This could act as a key resistance level for the index in the short term. This was followed by 54,000 strike (24.74 lakh contracts) and 53,500 strike (20.45 lakh contracts).

Maximum Call writing was witnessed at 52,600 strike (which added 4.65 lakh contracts), followed by 54,000 strike (3.01 lakh contracts) and 52,800 strike (2.52 lakh contracts), while maximum Call unwinding was witnessed at 53,100 strike (which lost 1.28 lakh contracts), followed by 52,900 strike (1.2 lakh contracts) and 53,800 strike (1.04 lakh contracts).

6) Bank Nifty Put Option Data

On the put side, 52,000 strike has the maximum open interest (with 24.76 lakh contracts), which could act as a key support level for the index. This is followed by 52,500 strike (20.56 lakh contracts) and 51,500 strike (16.46 lakh contracts).

Maximum Put writing was witnessed at 52,000 strike (which added 7.13 lakh contracts), followed by 52,200 strike (6.89 lakh contracts) and 52,400 strike (6.23 lakh contracts), while Put unwinding was witnessed at 53,000 strike which lost 1.98 lakh contracts, followed by 51,500 and 52,900 strikes which lost 1.67 lakh and 87,810 contracts, respectively.

7) Fund Flow (Rs. in crores)

8) Put-Call Ratio

The Nifty put-call ratio (PCR), which gauges the market mood, rose to 1.21 on July 1 from 1.17 in the previous session.

An increase in the PCR, or a ratio greater than 0.7 or greater than 1, means that traders are selling more put options than call options, which generally indicates a strong bullish sentiment in the market. If the ratio falls below 0.7 or moves towards 0.5, it indicates that sales in calls are higher than sales in puts, indicating a bearish mood in the market.

9) India VIX

Volatility remained below the 14 mark for another session, keeping the trend favourable for the upside. The fear gauge, India VIX, rose 0.2 per cent to 13.83 from the 13.8 level.

10) Long Build-up (91 stocks)

Long build-up was seen in 91 stocks. The increase in open interest (OI) and price indicates a build-up of long positions.

11) Long Unwinding (6 stocks)

6 stocks witnessed a decline in open interest (OI) as well as price, indicating long unwinding.

12) Short Build-up (43 stocks)

43 stocks witnessed a decline in price along with an increase in open interest, indicating build-up of short positions.

13) Short-Covering (45 stocks)

Short-covering was witnessed in 45 stocks, which means that the OI decreased along with the price rise.

14) High Delivery Trade

Here are the stocks that saw a high share of delivery trades. A high share of delivery indicates investing (as opposed to trading) interest in a stock.

15) Stocks under F&O ban

Restricted securities under the F&O segment include companies whose derivative contracts exceed 95 per cent of the market-wide position limit.

Stocks covered under F&O ban: Nil

Stocks covered under F&O ban remain: India Cements, Indus Towers

Stocks removed from F&O ban: Nil

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before making any investment decisions.

Disclosure: Moneycontrol is a part of the Network18 Group. Network18 is controlled by Independent Media Trust, whose sole beneficiary is Reliance Industries.

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