Premarket session today: Things to know before opening bell

After breaking out of a seven-day consolidation, the Nifty is anticipated to gradually move towards the psychological 20,000 mark and potentially reach a record high of 20,200 in the coming sessions. Immediate support is expected at levels of 19,800-19,700.

Market Performance on November 28: On November 28, the BSE Sensex rose 204 points to 66,174, while the Nifty50 was up 95 points at 19,890. The Nifty formed a bullish candlestick pattern with upper and lower shadows on the daily scale.

Technical Analysis: The Nifty has surpassed recent consolidation highs, indicating increased optimism among market participants. The index has held steady above the critical near-term support level of 19,700. Sentiment is expected to remain positive, potentially leading to a new lifetime high in the short term. The crucial short-term support level is identified at 19,700.

Nifty Bank: The Bank Nifty participated in a three-day upward trend with some consolidation and volatility. It climbed 112 points to 43,881 and closed above the 40-day moving average (43,834), signaling strength. The Bank Nifty is expected to target levels of 44,500 from a short-term perspective.

Options Data: The 20,000 strike has the maximum Call open interest (OI) in the monthly options data, acting as a key resistance level for the Nifty. Call writing was observed at the 20,200 strike, while meaningful Call unwinding occurred at the 19,800 strike.

Put Options Data: On the Put front, the 19,800 strike has the maximum open interest, serving as a key area for the Nifty. Put writing was notable at the 19,800 strike, indicating its significance.

Stocks with High Delivery Percentage: Stocks with high delivery percentages, suggesting investor interest, include Hindustan Unilever, Petronet LNG, Godrej Consumer Products, Larsen & Toubro, and SBI Card.

Long Build-Up: Long build-up was observed in 73 stocks, including Syngene International, Manappuram Finance, NTPC, Adani Enterprises, and Tata Power Company.

Long Unwinding: 26 stocks saw long unwinding, including Granules India, Coromandel International, Indraprastha Gas, ICICI Prudential Life Insurance Company, and PI Industries.

Short Build-Up: A short build-up was observed in 31 stocks, including Tata Communications, Navin Fluorine International, Bharat Forge, ITC, and Dalmia Bharat.

Short Covering: Short-covering was noted in 58 stocks, including Hindustan Petroleum Corporation, BHEL, Berger Paints, Tata Chemicals, and Bata India.

Put Call Ratio (PCR): The Nifty Put Call ratio (PCR) increased to 1.22 on November 28, indicating a rise in bearish sentiment as traders bought more Put options than Calls.

Bulk Deals: Notable bulk deals include the sale of Orchid Pharma shares by promoter Dhanuka Laboratories and the listing of IREDA equity shares on BSE and NSE on November 29.

Stocks in the News: Siemens recorded a 49.8% YoY growth in net profit, Tata Power Renewable Energy received a Letter of Award for a 200 MW renewable energy project, and Zomato may witness a block deal with Alipay selling a 3.14% stake.

FII and DII Data: Foreign institutional investors bought shares worth Rs 783.82 crore, while domestic institutional investors purchased Rs 1,324.98 crore worth of stocks on November 28.