Trade setup for today- Even before the US Fed’s decisions, the market remained under pressure on 15 December and the BSE Sensex was seen closing with a fall of more than 300 points. In yesterday’s trade, Sensex closed at 57,788.03 with a fall of 329 points or 0.57 percent. On the other hand, Nifty closed 103.50 points lower at 17,221.40 and formed a bearish engulfing pattern on the daily chart.
Karan Pai of GEPL Capital says that Nifty started with a flat move yesterday. Then turned down after facing resistance near the 20-day SMA (simple moving average – 17,343). Finally Nifty closed with a bearish engulfing pattern on the daily chart.
Looking at the way Nifty is facing resistance near the 20-day SMA, we believe that if Nifty goes below 17,192 then it can also move towards 17,050. For this trade setup, put a stop loss of 17,280.
In yesterday’s trade, along with the giants, there was selling pressure in small-medium stocks as well. Nifty Midcap closed down 0.58 percent and Smallcap 0.39 percent in yesterday’s trade.
Here we are giving you some such data, on the basis of which it will be easy for you to catch profitable deals. It should be noted here that the Open Interest (OI) and Volume of Stocks figures in this story are the sum total of three months’ data, not just the current month.
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The key support and resistance levels for Nifty
The first support for Nifty is located at 17,158.66 and after that, the second support is located at 17,095.93. If the index moves upwards, then it may face resistance at 17,317.66 then 17,413.93.
Nifty Bank- Trade setup for today
The first support for Nifty Bank(Trade setup for today) is located at 36,660.7 and after that, the second support is located at 36,531.8. If the index turns upwards then it may face resistance at 37,001 then 37,212.4.
call option data- Trade setup for today
The maximum call open interest of 37.96 lakh contracts has been seen at the 18000 strikes, which will act as an important resistance level in the December series. After this, the highest call open interest of 23.97 lakh contracts is being seen at 17,500. At the same time, there is a call open interest of 21.23 lakh contracts at the strike of 17,400.
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Call writing was seen on the strike of 17600. 1.94 lakh contracts were added to this strike. After that 1.47 lakh contracts have been seen getting added even at 17,500.
The maximum call unwinding was seen at the strike of 17,900. This was followed by the highest call unwinding at the strike of 17,800 and then 17,700.
put option data- Trade setup for today
The maximum put open interest of 47.82 lakh contracts has been seen at the strike of 17000, which will act as an important resistance level in the December series. After this, the highest put open interest of 29.48 lakh contracts is being seen at 16000. At the same time, there is a Put Open Interest of 28.74 lakh contracts at a strike of 16,500.
Put writing was seen on the strike(Trade setup for today) of 17200. 50,650 contracts were added to this strike. After that 32,150 contracts have been seen getting added even at 16,700. While 23,350 contracts are attached at 16,600.
The maximum put unwinding was seen at the strike of 17300. This was followed by the highest put unwinding at the strike of 17000 and then 17400.
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Stocks with High Delivery Percentage
These include the names TCS, ICICIGI, BEL, Bata India, and HDFC. A high delivery percentage is an indication that investors are showing interest in those stocks.
FII and DII figures
On December 15, foreign institutional investors sold Rs 3,407.04 crore in the Indian markets(Trade setup for today) . On the other hand, domestic institutional investors bought Rs 1,553.01 crore on this day.
Stocks coming under F&O ban on NSE
As of December 16, only 3 stocks(Trade setup for today) are under the F&O ban on NSE. This includes the names of Escorts, Indiabulls Housing Finance, and Vodafone Idea. It is to be noted that the stocks included in the F&O segment are put in the banned category if the positions of the securities exceed their market-wide position limits.