The market turned strong with the Nifty50 getting back above 18,700 and Sensex above the 63,000 mark on a closing basis, on June 13, on the back of easing CPI inflation and healthy IIP data. Also, the market participants may be hopeful for a pause in rate hike by Federal Reserve in its June meeting.

The BSE Sensex rallied 418 points to 63,143, while the Nifty50 climbed 115 points to 18,716 and formed a Bullish Belt Hold kind of pattern on the daily charts, indicating the strong control by bulls over the Street.

“The near-term trend of the market remains positive. One may expect Nifty to move above the hurdle of 18,800-18,900 levels in the next few sessions,” Nagaraj Shetti, Technical Research Analyst at HDFC Securities said.

Any weakness from the highs could find immediate support around 18,500 levels, he feels.

The broader markets also continued the northward journey, with the Nifty Midcap 100 and Smallcap 100 indices rising 1.22 percent and 0.7 percent, respectively on positive breadth.

We have collated 15 data points to help you spot profitable trades:

Note: The open interest (OI) and volume data of stocks in this article are the aggregates of three-month data and not just the current month.

Key support, resistance levels on Nifty

According to the pivot point calculator, the Nifty may find support at 18,655, followed by 18,632 and 18,595. If the index advances, then 18,729 will be the key resistance, followed by 18,752 and 18,789.

Nifty Bank

The Bank Nifty rose 136 points to 44,080 amid volatility and formed a bullish candlestick pattern on the daily charts.

“Bank Nifty managed to hold its previous day’s low and negated the formation of lower highs after three trading sessions. Overall buying is visible at lower zones and the index is holding above its crucial support of 20 DEMA,” Chandan Taparia, Senior Vice-President | Analyst-Derivatives at Motilal Oswal Financial Services said.

He further said the index has to hold above 44,044 levels, to make an up move towards 44,250, then 44,500 levels, while on the downside support is expected at 43,900, then 43,750 levels.

As per the pivot point calculator, the Bank Nifty is expected to find support at 43,941, followed by 43,882 and 43,787, while the resistance is likely to be at 44,131, then 44,189 and 44,284.

Call options data

On the weekly options front, with 1.03 crore contracts, the maximum Call open interest (OI) was at 18,900 strike, which is expected to be a crucial resistance level for the Nifty.

This was followed by 89.28 lakh contracts at 18,700 strike, while 88.77 lakh contracts comprised the 18,800 strike.

Maximum Call writing was seen at 18,900 strike, which added 29.71 lakh contracts, followed by 19,000 and 19,100 strike, which added 16.32 lakh and 8.79 lakh contracts, respectively.

Maximum Call unwinding was at 18,700 strike, which shed 52.84 lakh contracts, followed by 18,600 and 19,600 strikes, which shed 41.31 lakh and 30.4 lakh contracts, respectively.

Put option data

On the Put side, we have seen the maximum open interest at 18,700 strike, with 1.07 crore contracts, which is expected to be an initial support level for the Nifty50 in the coming sessions.

This was followed by the 18,600 strike, comprising 1.02 crore contracts, and the 18,500 strike, which has 83.69 lakh contracts.

Put writing was seen at 18,700 strike, which added 43.87 lakh contracts, followed by 18,500 and 18,800 strike, which added 15.47 lakh and 10.52 lakh contracts, respectively.

Put unwinding was seen at 18,400 strike, which shed 3.95 lakh contracts, followed by 17,800 and 17,900 strikes, which shed 4.1 lakh and 1.32 lakh contracts, respectively.

Stocks with high delivery percentage

A high delivery percentage suggests that investors are showing interest in the stock. The highest delivery was seen in Torrent Pharma, Container Corporation of India, Maruti Suzuki India, Kotak Mahindra Bank and Larsen & Toubro among others.

84 stocks see a long build-up

An increase in open interest (OI) and price indicates a build-up of long positions. Based on the OI percentage, 84 stocks, including Tata Communications, Oracle Financial, Dixon Technologies, Cummins India and Astral, saw a long build-up.

14 stocks see long unwinding

A decline in OI and price generally indicates a long unwinding. Based on the OI percentage, 14 stocks, including Delta Corp, Hindustan Aeronautics, HCL Technologies, Bharti Airtel and India Cements saw a long unwinding.

20 stocks see a short build-up

An increase in OI along with a price decrease indicates a build-up of short positions. Based on the OI percentage, 20 stocks, including InterGlobe Aviation, Container Corporation of India, State Bank of India, United Breweries and Federal Bank saw a short build-up.

72 stocks see short-covering

A decrease in OI along with a price increase is an indication of short-covering. Based on the OI percentage, 72 stocks were on the short-covering list. These included Atul, Persistent Systems, JK Cement, Intellect Design Arena and Havells India.

Bulk deals

Zee Entertainment Enterprises: Investment entity Plutus Wealth Management LLP has bought 75 lakh equity shares or a 0.78 percent stake in the media & entertainment company via open market transactions at an average price of Rs 191.44 per share, which amounted to Rs 143.58 crore.

Bajaj Electricals: Smallcap World Fund Inc has sold 10.92 lakh shares or a 0.95 percent stake in the electrical equipment manufacturing company via open market transactions, at an average price of Rs 1,175.02 per share, amounting to Rs 128.4 crore. However, Societe Generale was the buyer for some of those shares, acquiring 6 lakh shares in the company at an average price of Rs 1,175 per share.

Nazara Technologies: Europe-based financial services group Societe Generale has sold 4 lakh shares or a 0.6 percent stake in the gaming & sports media platform via open market transactions at an average price of Rs 681.74 per share.

Capacite Infraprojects: Societe Generale has bought 24.17 lakh equity shares or a 3.5 percent stake in the EPC company via open market transactions at an average price of Rs 190 per share, amounting to Rs 45.93 crore. However, foreign company Newquest Asia Investments II Limited sold 32 lakh shares or 4.7 percent stake in the company at an average price of Rs 190.04 per share.

(For more bulk deals, click here)

Investors Meetings on June 14

Home First Finance Company India: Officials of the company will be participating in non-deal roadshows organised by Kotak Securities in the USA.

Mahindra & Mahindra: Company’s officials will meet several funds and investors in a non-deal roadshow in the UK & Ireland.

Metro Brands: Officials of the company will interact with HDFC Securities and GEECEE Holding.

Metropolis Healthcare: Company’s officials will be meeting investors and analysts in a non-deal roadshow in the UK.

Max Healthcare Institute: Abhay Soi, Chairman and Managing Director of the Company will meet various institutional investors in Europe.

Poonawalla Fincorp: Representative(s) of the company will be meeting investors at Investec Asia CXO Conference 2023 in Singapore and Hong Kong.

Trent: Company’s officials will meet BOB Capital Markets.

Monte Carlo Fashions: Officials of the company will attend Motilal Oswal’s Retail Day Mumbai Conference.

Escorts Kubota: Company’s officials will interact with Franklin Templeton Mutual Fund & BNP Paribas Mutual Fund.

Anupam Rasayan India: Officials of the company will interact with I Wealth Management LLP.

Stocks in the news

Zydus Life Sciences: The group’s injectables manufacturing facility at Zydus Biotech Park in Changodar, Ahmedabad, underwent USFDA inspection during June 5-13. The current good manufacturing practice (CGMP) inspection concluded with nil observations.

Anupam Rasayan India: The custom synthesis & speciality chemical company has signed a Letter of Intent worth revenue of $265 million (Rs 2,186 crore) for the next five years with a Japanese speciality chemical company to supply new age patented life science active ingredient. The product will be in the validation phase for the next eighteen months and upon successful validation, the supply will commence from CY2025.

LIC Housing Finance: Ashwani Ghai has resigned as Whole Time Director & Chief Operating Officer of the housing finance company with effect from June 13 after the transfer order. He has been transferred and posted as Additional Director at MDC, Mumbai.

3i Infotech: Subsidiary NuRe FutureTech has signed a Memorandum of Understanding (MoU) with the Department of Computer Science at SRM Valliammai Engineering College in Chennai. This partnership aims to establish a path-breaking AI (artificial intelligence) Lab within the institute’s campus.

LTIMindtree: The technology consulting and digital solutions company has joined the Microsoft Intelligent Security Association (MISA). LTIMindtree’s MDR is designed to deliver cybersecurity and resiliency services through a modular, systematic and platformized approach.

Fiem Industries: A fire incident occurred in one building of unit-7 at the Sonipat plant in Haryana. There is no loss or injury to human life and the fire is controlled with the help of fire tenders in a few hours. Damage happened to some buildings, plant & machinery, stocks and furniture among others. The company has initiated the necessary procedure for an insurance claim as the company’s assets are adequately covered.

Kotak Mahindra Bank: The private sector lender said the Board of Directors will meet on June 16 to consider raising funds via the issuance of unsecured, redeemable, non-convertible debentures/bonds, in one or more tranches/series, on a private placement basis, during FY24.

Fund Flow

FII and DII data

Foreign institutional investors (FII) bought shares worth Rs 1,677.60 crore, whereas domestic institutional investors (DII) sold shares worth Rs 203.32 crore on June 13, provisional data from the National Stock Exchange shows.

Stocks under F&O ban on NSE

The National Stock Exchange has added BHEL and Manappuram Finance to its F&O ban list for June 14 and retained Delta Corp, Indian Energy Exchange, India Cements and Indiabulls Housing Finance to the list. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95 percent of the market-wide position limit.

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