A better than expected domestic equity market factored by macro economic data moved Sensex 290 points and Nifty 111 points previous week.

Asian Development Bank won over Mr. Narendra Modi’s might be waning  popularity on the assembly election with its forecast on Bharat’s economy by retaining Bharat’s GDP growth at 7.3 % on 2018-19 financial year, and 7.6% for FY ’20.

From the economic point of view, IIP (Index of Industrial Production) data surged 11 month’s high to 8.1% in October against 4.5% in September 2018 and 1.8% in Oct. 2017. Retail inflation cooled to 2.33% at 17 month’s low in Nov. 2018 from 4.88% of last year.

Information, creates opportunity in weeks ahead

From technical perspective Nifty is likely to encounter key overhead resistance at 10,900-11,100 levels in the next two weeks, as per Nagaraj Shetti of HDFC securities.

Experts noticeable data points for profitable trades

Support and resistance level for Nifty

According to Pivot charts, the key support level is placed at 10,766.47, followed by 10,727.43. If the index starts moving upwards, key resistance levels to watch out are 10,830.17 and then 10,854.83.

Nifty Bank

The important Pivot level, which will act as crucial support for the index, is placed at 26,736.14, followed by 26,646.27. On the upside, key resistance levels are placed at 26,912.44, followed by 26,998.87.

Options- Call

Maximum Call open interest (OI) of 50.40 lakh contracts was seen at the 11,000 strike price. This will act as a crucial resistance level for the December series.

This was followed by the 10,900 strike price, which now holds 32.30 lakh contracts in open interest, and 10,800, which has accumulated 29.47 lakh contracts in open interest.

Options - Put

Maximum Put open interest of 40.29 lakh contracts was seen at the 10,500 strike price. This will act as a crucial support level for the December series.

This was followed by the 10,700 strike price, which now holds 34.69 lakh contracts in open interest, and the 10,600 strike price, which has now accumulated 32.88 lakh contracts in open interest.

Foreign and Domestic Institutional Investors

Foreign Institutional Investors (FIIs) purchased shares worth Rs 861.94 crore while Domestic Institutional Investors sold Rs 302.52 crore worth of shares in the Indian equity market on December 14, as per provisional data available on the NSE

There are few stocks which are of interest of the buyer or seller based on the open interest, and other technical parameters going to bring profit in next couple of week for the investors are Petronet Lng, Reliance Infra, Marico, MothersonSumi, IOC, Equitas, Lic Housing finance, SBI, PVR

Companies board meeting or other commercial news become a factor for a particular stock movement. This week few of the stocks are in radar for their internal news are Finolex, Infosys, Crompton, Vedanta, Cadila, wipro, NTPC, Future consumer, Dilip Buildcon.