The market extended losses for the second consecutive session on May 20 with the Nifty50 breaching 15,000-mark, dragged by banking & financials, metals, select FMCG and IT stocks.

The BSE Sensex fell 337.78 points to close at 49,564.86, while the Nifty50 index declined 124.20 points to 14,906 and formed a bearish candle on the daily charts as the closing was lower than opening levels.

"A long bear candle was formed on the daily chart, that filled the opening upside gap of May 18 completely at 14,938. Though, Nifty placed near the said gap support and also previous upside breakout point of 14,900 (upper range and previous swing highs), there is no evidence of sustainable buying emerging from near the support. This could be worrying factor for bulls to sustain the highs," Nagaraj Shetti, Technical Research Analyst at HDFC Securities told Moneycontrol.

"The weakness of Thursday seems to be in line with the positive chart pattern of the market. If a crucial support of 14,900 is broken decisively on the downside, then the bets of upside breakout could be off and more weakness could be set in," he said.

A sustainable upmove from the support of 14,900 is likely to pull Nifty towards 15,140-15,200 levels in the short term, according to Shetti.

We have collated 15 data points to help you spot profitable trades:

Note: The open interest (OI) and volume data of stocks given in this story are the aggregates of three-month data and not of the current month only.

Key support and resistance levels on the Nifty

According to pivot charts, the key support levels for the Nifty are placed at 14,837.33, followed by 14,768.67. If the index moves up, the key resistance levels to watch out for are 15,022.23 and 15,138.47.

Nifty Bank

The Nifty Bank slipped 350.65 points or 1.04 percent to close at 33,334.55 on May 20. The important pivot level, which will act as crucial support for the index, is placed at 33,127.76, followed by 32,920.93. On the upside, key resistance levels are placed at 33,687.56 and 34,040.53 levels.

Call option data

Maximum Call open interest of 40.85 lakh contracts was seen at 15,000 strike, which will act as a crucial resistance level in the May series.

This is followed by 15,500 strike, which holds 32.50 lakh contracts, and 15,100 strike, which has accumulated 30.10 lakh contracts.

Call writing was seen at 15,000 strike, which added 16.95 lakh contracts, followed by 15,100 strike which added 14.23 lakh contracts and 15,500 strike which added 11.23 lakh contracts.

Call unwinding was seen at 14,700 strike, which shed 39,450 contracts, followed by 14,200 strike which shed 8,025 contracts, and 14,400 strike which added 7,575 contracts.

Put option data

Maximum Put open interest of 34.08 lakh contracts was seen at 14,500 strike, which will act as a crucial support level in the May series.

This is followed by 15,000 strike, which holds 27.92 lakh contracts, and 14,800 strike, which has accumulated 26.76 lakh contracts.

Put writing was seen at 15,000 strike, which added 6.36 lakh contracts, followed by 14,900 strike which added 5.6 lakh contracts and 15,500 strike which added 4.97 lakh contracts.

Put unwinding was seen at 15,100 strike which shed 46,875 contracts, followed by 15,200 & 15,300 strikes, which shed 5,325 contracts each.

Stocks with a high delivery percentage

A high delivery percentage suggests that investors are showing interest in these stocks.

27 stocks saw long build-up

An increase in open interest, along with an increase in price, mostly indicates a build-up of long positions. Based on the open interest future percentage, here are the top 10 stocks in which a long build-up was seen.

47 stocks saw long unwinding

A decline in open interest, along with a decrease in price, mostly indicates a long unwinding. Based on the open interest future percentage, here are the top 10 stocks in which long unwinding was seen.

59 stocks saw short build-up

An increase in open interest, along with a decrease in price, mostly indicates a build-up of short positions. Based on the open interest future percentage, here are the top 10 stocks in which a short build-up was seen.

26 stocks witnessed short-covering

A decrease in open interest, along with an increase in price, mostly indicates a short-covering. Based on the open interest future percentage, here are the top 10 stocks in which short-covering was seen.

Bulk deals

Den Networks: Broad Street Investments (Singapore) Pte Limited sold 25.10 lakh equity shares in Den Networks at Rs 44.21 per share on the NSE, the bulk deal data showed.

Garware Hi-Tech Films: Ashish Rameshchandra Kacholia acquired 1.28 lakh equity shares in the company at Rs 755 per share on the BSE, the bulk deal data showed.

Indian Energy Exchange: Copthall Mauritius Investment bought 16,54,117 equity shares in Indian Energy Exchange at Rs 362.68 per share and Societe Generale bought 22,14,870 equity shares in the company at Rs 361.66 per share, but Dalmia Bharat subsidiary Dalmia Power sold 1.34 crore equity shares (4.473% of paid up equity) in the company at Rs 363.84 per share on thte BSE, the bulk deal data showed

Results on May 21

State Bank of India, Hindalco Industries, JSW Steel, Shree Cement, Godrej Industries, South Indian Bank, Aarti Surfactants, AF Enterprises, Anmol India, Anuh Pharma, Birlasoft, Bhilwara Technical Textiles, CCL Products (India), Ceinsys Tech, Celebrity Fashions, Chemfab Alkalis, Container Corporation of India, Crompton Greaves Consumer Electricals, DCW, Dhanuka Agritech, Dharamsi Morarji Chemical, Elgi Equipments, Emmessar Biotech & Nutrition, Esab India, Gujarat Lease Financing, Goyal Associates, GRP, Hitech Corporation, Integrated Capital Services, Indian Terrain Fashions, Kabra Extrusiontechnik, Kemp & Company, Kome-On Communication, Dr Lal PathLabs, Mayukh Dealtrade, Megri Soft, Metalyst Forgings, Manaksia Coated Metals & Industries, Morarka Finance, Punjab Alkalies & Chemicals, Rishiroop, Rane (Madras), Seacoast Shipping Services, Shoppers Stop, Super Sales India, Suraj Industries, TCI Industries, United Spirits, and Xelpmoc Design and Tech will release their quarterly earnings on May 21.

Results on May 22

Akzo Nobel India, Amara Raja Batteries, Amber Enterprises India, Akme Star Housing Finance, Deccan Bearings, Gujarat Ambuja Exports, Ganesha Ecosphere, Gulshan Polyols, Inditrade Capital, IRIS Business Services, Mangalam Industrial Finance, Mangalam Cement, Multi Commodity Exchange of India, Modern Converters, Orchid Pharma, Punjab & Sind Bank, Sarda Energy & Minerals, Spandana Sphoorty Financial, Sundaram Brake Linings, TVS Electronics, Veer Global Infraconstruction, Zuari Agro Chemicals, and Welcast Steels will release quarterly earnings on May 22.

Stocks in News

HPCL: The company reported sharply higher standalone profit at Rs 3,018 crore for Q4FY21 against Rs 2,345.6 crore in Q3FY21, revenue rose to Rs 85,203.55 crore from Rs 77,412.68 crore in the previous quarter.

Havells India: The company reported sharply higher standalone profit at Rs 302.3 crore for Q4FY21 against Rs 177 crore in Q4FY20, revenue jumped to Rs 3,331 crore from Rs 2,216 crore YoY.

Zee Entertainment Enterprises: The company reported consolidated profit at Rs 275.8 crore for Q4FY21 against loss of Rs 766.7 crore in Q4FY20, revenue rose to Rs 1,965.8 crore from Rs 1,951.1 crore YoY.

Texmo Pipes & Products: The company has received orders from multiple contractors of HDPE pipes worth Rs 48.40 crore, and the execution period of the order is 3 months.

JK Lakshmi Cement: The company reported higher consolidated profit at Rs 152.91 crore in Q4FY21 against Rs 99.15 crore in Q4FY21, revenue rose to Rs 1,424.32 crore from Rs 1,137.47 crore YoY.

Torrent Power: The company reported consolidated profit at Rs 398.1 crore in Q4FY21 against loss of Rs 273.94 crore in Q4FY20, revenue rose to Rs 3,084.13 crore from Rs 2,983.5 crore YoY. The company approved issuance of non-convertible debentures up to Rs 2,000 crore in one or more tranches by way of private placement.

FII and DII data

Foreign institutional investors (FIIs) net acquired shares worth Rs 71.04 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 876.06 crore in the Indian equity market on May 20, as per provisional data available on the NSE.

Stocks under F&O ban on NSE

Six stocks - BHEL, Cadila Healthcare, Jindal Steel & Power, NALCO, Punjab National Bank, and SAIL - are under the F&O ban for May 21. Securities in the ban period under the F&O segment include companies in which the security has crossed 95 percent of the market-wide position limit.