Bizz Buzz Pre-Market Wednesday: Things to know before opening bell
Nifty Resistance and Support Levels: The Nifty 50 is expected to face resistance at 21,500-21,600, with support levels at 21,300-21,368.
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Here are some key points to consider before the market opens on Wednesday
Nifty Resistance and Support Levels: The Nifty 50 is expected to face resistance at 21,500-21,600, with support levels at 21,300-21,368. Sustaining above 21,500 could trigger upward momentum.
Bullish Trend: Nifty is in a bullish trend, and holding long positions with a trailing stop loss is recommended, according to Nandish Shah, Deputy Vice President, Retail Research at HDFC Securities.
Technical Analysis: Rupak De, Senior Technical Analyst at LKP Securities, suggests that the bullish trend will persist as long as the index stays above 21,350, and a breakthrough above 21,500 could lead to a substantial market rally.
Bank Nifty: The Bank Nifty is consolidating and needs to close above 48,000 to sustain upward momentum. Support is seen at 47,800.
Options Data: Maximum Call open interest is at 21,500, acting as a key resistance level. Meaningful Call writing is observed at 21,500, 21,900, and 21,800 strikes.
Options Data (Put): Maximum Put open interest is at 21,400, serving as a key support level. Meaningful Put writing is observed at 21,400, 20,800, and 21,500 strikes.
Delivery Percentage: Stocks with high delivery percentages include UltraTech Cement, Apollo Tyres, Shriram Finance, Maruti Suzuki India, and Pidilite Industries.
Long Build-up: 38 stocks show a long build-up, including Delta Corp, Nestle India, Metropolis Healthcare, Shriram Finance, and Dr Lal PathLabs.
Long Unwinding: 64 stocks, including JK Cement, NALCO, Deepak Nitrite, L&T Technology Services, and LTIMindtree, saw long unwinding.
Short Build-up: 45 stocks, including Apollo Tyres, RBL Bank, IndiaMART InterMESH, Indus Towers, and Astral, show a short build-up.
Short Covering: 41 stocks, including Ramco Cements, Hindustan Copper, India Cements, Vedanta, and REC, witnessed short-covering.
Put-Call Ratio (PCR): Nifty PCR increased to 1.13, indicating an increase in bearish sentiment.
Bulk Deals: Bulk deals involve Deepak Nitrite, IREDA, Anupam Rasayan, Container Corporation of India, Rail Vikas Nigam, India Shelter Finance Corporation, and Doms Industries.
Stocks in the News: Deepak Nitrite, IREDA, Anupam Rasayan, Container Corporation of India, Rail Vikas Nigam, India Shelter Finance Corporation, and Doms Industries are among the stocks making headlines.
FII and DII Data: FIIs net sold shares worth Rs 601.52 crore, while DIIs bought Rs 294.35 crore worth of stocks on December 19.
Please note that this information is for reference purposes, and it's crucial to conduct further research and analysis before making any trading or investment decisions. Market conditions can change rapidly, and risks are inherent in stock market activities.
