Bizz Buzz Premarket Wednesday: Things to know before the opening bell

The stock market is anticipated to maintain a range-bound pattern with a positive bias, as the Nifty 50 encounters resistance at 21,500-21,600 levels and finds support at 21,200-21,000. Despite the holiday season leading to lower trading volumes, the BSE Sensex gained 230 points, closing at 71,337, and the Nifty 50 rose by 92 points, reaching 21,441, forming a bullish candlestick pattern.

The Nifty has recovered a significant portion of losses observed on December 20, and analysts suggest that crossing the recent high of 21,593 is crucial for reversing the current downtrend. Key support levels to watch are at 21,329-21,232. The upcoming sessions, especially with the year-end approaching, may be critical, and investors are advised to secure profits timely.

The India VIX, indicating market fear, rose by 7.08% to 14.68, causing some discomfort among bullish investors.

Here are 15 data points to guide trading decisions:

Nifty Support and Resistance Levels:

Immediate Resistance: 21,455, 21,507, 21,564

Immediate Support: 21,360, 21,325, 21,268

Bank Nifty Performance:

Bank Nifty supported the market by rising 233 points to 47,725.

Put writers built positions at the 47,500 strike, considered a key support level.

Call Options Data:

Maximum Call open interest at 22,000 strike, followed by 21,500 and 21,600 strikes.

Meaningful Call writing at 21,900, 22,100, and 21,600 strikes.

Put Options Data:

Maximum Put open interest at 21,300 strike.

Meaningful Put writing at 21,300, 20,700, and 21,400 strikes.

Put unwinding at 20,200, 21,000, and 20,100 strikes.

Stocks with High Delivery Percentage:

Max Financial Services, Dabur India, Hindustan Unilever, Sun Pharmaceutical Industries, and UltraTech Cement had high delivery percentages.

Long Build-Up in 58 Stocks:

Notable stocks with a long build-up include Tata Communications, Tata Chemicals, Atul, M&M Financial Services, and Hero MotoCorp.

Long Unwinding in 33 Stocks:

Stocks with long unwinding include National Aluminium Company, MCX India, Bata India, Sun TV Network, and Manappuram Finance.

Short Build-Up in 25 Stocks:

Stocks with a short build-up include RBL Bank, Cholamandalam Investment & Finance, Abbott India, HDFC Life Insurance Company, and Muthoot Finance.

Short Covering in 71 Stocks:

Stocks with short-covering include Indiabulls Housing Finance, Hindustan Copper, IndiaMART InterMESH, Dr Lal PathLabs, and Indraprastha Gas.

Nifty Put Call Ratio (PCR):

Nifty PCR climbed to 1.23, indicating an increase in bearish sentiment.

Bulk Deals:

Max Financial Services, Dabur India, Hindustan Unilever, Sun Pharmaceutical Industries, and UltraTech Cement saw the highest delivery among the F&O stocks.

Stocks in the News:

Kansai Nerolac Paints, Aditya Birla Capital, Credo Brands Marketing, RBZ Jewellers, Happy Forgings, and Zydus Lifesciences.

Funds Flow:

FIIs net sold shares worth Rs 95.20 crore, while DIIs bought Rs 167.04 crore worth of stocks on December 26.

Stocks under F&O Ban on NSE:

RBL Bank added to F&O ban list for December 27, while Balrampur Chini Mills, Delta Corp, Hindustan Copper, and National Aluminium Company retained their positions.

Market Closure on December 26:

The Sensex closed up 229.84 points at 71,336.80, and the Nifty closed up 91.90 points at 21,441.30. About 2063 shares advanced, 1325 shares declined, and 109 shares remained unchanged.

As the market approaches the close of the year, investors are advised to exercise caution, and the next few sessions are deemed crucial. The overall sentiment is optimistic, but some analysts suggest being mindful of smaller-sized candles compared to the significant bearish one from the previous week.