It was another weak session for the market as the benchmark indices corrected seven-tenth of a percent on January 21, as selling was seen across sectors, while the volatility increased significantly by more than 6 percent to nearly 19 levels.
The Nifty50 dropped 140 points to 17,617 and formed a Doji kind of pattern on the daily charts as the closing was near its opening levels. The index fell 3.5 percent and formed a large bearish candle on the weekly scale.
A small body candle was formed on the daily chart. This formation is not a classical candle pattern, but a formation of Doji or high wave type candle pattern. The pattern indicates a heightened volatility in the market at the lows.
Doji pattern formations after a reasonable upmove or down move are considered to be an impending signal for trend reversal. He says that one may expect an upside bounce in the short term, having declined sharply in the last few sessions.
The short term trend of Nifty is weak. There is a possibility of an upside bounce from here or slightly lows, as a formation of Doji at the swing lows on Friday shows. The confirmation of the bottom reversal is likely to show an upside bounce. Nagaraj Shetti says the hurdle is at 17,800 levels.
The broader markets corrected. The Nifty Midcap 100 index and Smallcap 100 index declined.
There are 15 data points that we have gathered to help you spot profitable trades.
The open interest and volume data of stocks given in this story are not the current month only data.
The Nifty has key support and resistance levels.
The key support levels for the Nifty are 17,499.47 and 17,381. 73. The key resistance levels to watch out for are 17,721.27 and 17,825.33 if the index moves up.
The bank is called Nifty Bank.
On January 21, the Nifty Bank lost 276.50 points. The pivot level will act as a crucial support for the index. Key resistance levels are placed at 37,802.14 and 38,029.97 levels.
Call option data.
The maximum call open interest of 90.69 lakh contracts was seen at 18000 strike, which will act as a crucial resistance level in the January series.
The 18500 strike holds 63.37 lakh contracts and the 17900 strike has 51.93 lakh contracts.
Call writing added 21.03 lakh contracts, followed by 17700 strike which added 20.64 lakh contracts, and 17800 strike which added 18.69 lakh contracts.
The 17200 strike shed 19,500 contracts, followed by 17100 strike which shed 8,850 contracts and 16900 strike which shed 5,850 contracts.
Put option data.
The maximum put open interest of 56.59 lakh contracts was seen at 17000 strike, which will act as a crucial support level in the January series.
This is followed by 16500 strike, which holds 37.4 lakh contracts, and 17500 strike, which has 36.76 lakh contracts.
Put writing was seen at 17600 strike, which added 13.61 lakh contracts, followed by 17400 strike, which added 11.37 lakh contracts.
The 18000 strike shed 15.6 million contracts, followed by 17800 strike which shed 10.25 million contracts, and 17900 strike which shed 5.16 million contracts.
There are stocks with a high delivery percentage.
A high delivery percentage is indicative of investor interest.
7 stocks had long builds-up.
A build-up of long positions is usually indicated by an increase in open interest and price. The 7 stocks in which a long build-up was seen are shown based on the open interest future percentage.
There were 87 stocks that saw long unwinding.
A decline in open interest and a decrease in price is a sign of a long unwinding. Here are the top 10 stocks in which long unwinding was seen.
There were 87 stocks that saw short build-up.
A build-up of short positions is usually caused by an increase in open interest and a decrease in price. Here are the top 10 stocks that had a short build-up.
18 stocks saw short-covering.
A decrease in open interest along with an increase in price is a sign of a short-covering. The top 10 stocks with the highest open interest future percentage are shown.
There are bulk deals.
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The results of the meeting will be announced on January 24.
Apollo Tricoat Tubes, Burger King India, Cera sanitaryware, Chennai Petroleum Corporation, Craftsman Automation, and Indian Energy Exchange had their results on January 24.
UltraTech Cement officials will meet with Fidelity International and Fullerton Fund Management on January 24.
The company's officials will meet with investors and analysts on January 25.
The company's officials will meet with investors and analysts on January 25.
The company's officials will meet with investors and analysts on January 25.
The company's officials will meet with analysts and investors on January 27.
The company's officials will meet with analysts and investors on January 27.
The company's officials will meet with analysts and investors on January 27.
Embassy Office Parks will hold a meeting with investors and analysts on January 28.
The company's officials will attend two conferences in February.
There are stocks in news.
The company reported a consolidated profit of Rs 20,539 crore in the third quarter of FY22 against Rs 14,894 crore in the same quarter a year ago.
Revenue rose to Rs 9,717.3 crore in Q3FY22 from Rs 9,406.4 crore in the previous quarter.
Mirae Asset Mutual Fund increased its stake in Prince Pipes and Fittings to 5.79% after acquiring 9.6 lakh equity shares via open market transactions on January 13.
The bank reported a higher profit of Rs 148.25 crore in Q3FY22 against Rs 53.05 crore in Q3FY21, net interest income increased to Rs 304.34 crore from Rs 251.18 crore.
The company reported higher profit at Rs 158 cr in Q3FY22 against Rs 93 cr in Q3FY21, revenue increased to Rs 884 cr from Rs 654 cr.
Titagarh Firema S.p.A., the subsidiary in Italy, has signed a framework agreement for design, manufacture, supply and ten years of maintenance of 38 trainsets of Metro for Lazio Regione, Italy. The framework agreement has a total value of 282 million euro.
Net interest income of Bandhan Bank rose to Rs 2,124.7 crore in Q3FY22 from Rs 2,071.7 crore in Q3FY21, as the bank reported higher profit.
Fund flow.
DII data
In the Indian equity market on January 21, foreign institutional investors sold shares worth Rs 3,148.58crore, while domestic institutional investors bought shares worth Rs 269.36crore.
The F&O ban on the stock exchange.
The F&O ban will be in effect on January 24. The F&O segment includes companies in which the security has crossed 95 percent of the market-wide position limit.
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