Technical & Derivatives Report
November 01, 2018
Sensex (34442) / Nifty (10387)
Exhibit 1: Nifty Hourly Chart
Our markets opened higher after Tuesday’s minor correction or
rather we should term it as a breather. Subsequently, we
witnessed a nosedive in the initial hour mainly on the back of
some news flow on the differences between the RBI and the
Central government. Fortunately, the damage got restricted at the
kissing distance from 10100 and to everyone’s surprise, there
was complete turnaround in traders’ sentiments as we witnessed
a vertical rally of nearly 300 points to conclude the session with
whopping gains of 1.85%.
In our previous articles, we had mentioned about index gearing
up for some relief move. Yesterday’s initial hour correction
precisely got arrested around the 61.8% retracement of the
upmove from 10004.55 to 10285.10. Due to strong broad
based buying, the Nifty went on to breach the 10300 mark;
thereby confirming a ‘Bullish Cup and Handle’ pattern on hourly
chart. This technical development triggered a sharp short
covering move to hasten towards our mentioned intraday level of
10400. Now, going ahead, with such kind of set up on charts, we
expect extension of the move first towards 10450 and then to test
the ‘200 SMA’ on hourly chart placed around 10560.
Traders are advised to trade with a positive bias to ride this relief
rally and use any decline towards 10350 - 10310 to create fresh
long positions in the market.
Key Levels
Support 1 - 10350
Resistance 1 -
10450
Support 2 - 10310
Resistance 2 -
10560
Nifty Bank Outlook - (25153)
Exhibit 2: Nifty Bank Hourly Chart
The Nifty Bank index opened on a flat note in yesterday’s trading
session. The index then corrected amongst nervousness amongst
market participants owing to the news of a rift between the
government and RBI over various policy measures. However, as
mentioned in our yesterday's report, the index has already formed
a support base in the range of 24350-24250 and hence, this
intraday dip turned to be a buying opportunity. The index
retraced about 78.6 % of the recent up move on the hourly chart
and resumed the positive momentum. Post noon, the index rallied
higher sharply and ended the day with gains of over 300 points.
Amidst this recent volatility, the index has formed an 'Inverted
Head and Shoulders' pattern on the hourly chart and has given a
breakout from the same. In our yesterday's report, we had
advised buying the dips and the long positions should now be
held for further up moves. Above 25200, we expect this move to
extend towards 25800, whereas 24970 followed by 24750 will
now be seen as crucial support.
Key Levels
Support 1 - 24970
Resistance 1 -
25200
Support 2 - 24750
Resistance 2 - 25800
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Technical & Derivatives Report
November 01, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 5.40%.
Bank Nifty futures open interest has increased by 1.94%
as market closed at 10386.60 levels.
The Nifty November future closed with a premium of
11.80 points against a premium of 30.85 points in last
trading session. The December series closed at a
premium of 59.50 points.
The INDIA VIX has decreased from 20.50 to 19.79.
At the same time, the PCR-OI of Nifty has increased from
1.49 to 1.56.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, ADANIPOWER, HCC, RCOM
and SUZLON.
Views
FIIs sold to the tune of Rs. 194 crores in cash market
segment. At the same time, they were net buyers worth
OI Gainers
Rs. 737 crores in index futures with rise in open interest,
OI
PRICE
SCRIP
OI
PRICE
indicating fresh long formation took place in yesterday’s
CHG. (%)
CHG. (%)
COALINDIA
24362800
83.44
266.15
-4.07
trading session.
CUMMINSIND
1174600
46.17
746.85
9.57
In options front, they sold marginally with rise in open
CESC
1558700
28.18
694.95
-2.64
interest. As far as Nifty options activities are considered,
SYNDIBANK
29502000
17.28
34.80
-0.57
10600-10900 call options added some fresh positions;
followed by unwinding in 10200-10400 strikes. On the
ALBK
15774000
14.90
44.20
5.71
flip side, we saw decent build-up in 9800-10400 put
HDFCBANK
14674250
14.23
1911.75
-0.04
options. Maximum open interest for November series
AJANTPHARM
603000
13.24
1058.35
5.64
now stood at 10700 followed by 11000 call and 10000
JUSTDIAL
2727200
12.73
503.80
-0.51
followed by 9500 put options.
It was indeed a volatile day for our market, as we saw
OI Losers
index correcting towards 10100 in the initial part of the
OI
PRICE
day. However, sharp recovery from these levels lead
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
index surpassing the hurdle of 10300. Eventually, we
DHFL
16557000
-11.53
225.10
8.33
concluded the session slightly below 10400 mark. In
PEL
3183080
-10.54
2172.80
8.36
futures segment, we saw fresh long formation in both
BPCL
12234600
-9.11
275.10
3.06
Nifty as well as BankNifty. Meanwhile, fresh writing took
KSCL
733500
-8.26
498.35
2.90
place in 10300 and 10400 put options. At current
MUTHOOTFIN
1782000
-7.48
409.35
2.94
juncture, we believe 10300-10350 shall act as a support
DCBBANK
4144500
-6.69
158.80
-0.28
zone; thus, dips in market shall be an opportunity to
IBULHSGFIN
16286000
-6.49
834.60
8.10
add-on fresh longs for the targets of 10500-10600.
PCJEWELLER
8624000
-5.84
58.50
7.98
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CUMMINSIND
63.83
NIFTY
1.56
0.86
TECHM
53.64
BANKNIFTY
1.27
0.86
TORNTPOWER
80.51
RELIANCE
0.47
0.64
IRB
80.85
ICICIBANK
0.83
0.80
NESTLEIND
35.45
INFY
1.09
0.42
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Technical & Derivatives Report
November 01, 2018
FII Statistics for October 31, 2018
Turnover on October 31, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
5758.74
5021.72
737.03
367370
27078.51
10.26
511782
32471.21
49.27
FUTURES
FUTURES
INDEX
INDEX
145890.83
145952.61
(61.78)
835500
59265.28
6.53
17299723
918411.45
49.95
OPTIONS
OPTIONS
STOCK
19516.94
18344.60
1172.34
1417188
81924.12
0.78
STOCK
FUTURES
1166492
64528.07
24.20
FUTURES
STOCK
STOCK
7405.77
7308.55
97.22
101462
5931.68
15.42
659134
38515.41
15.40
OPTIONS
OPTIONS
Total
178572.29
176627.47
1944.81
2721520
174199.58
4.21
TOTAL
19637131
1053926.14
46.47
Nifty Spot = 10386.60
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
209.20
Buy
10400
212.80
54.90
45.10
10454.90
34.55
65.45
10365.45
Sell
10500
154.30
Sell
10300
178.25
Buy
10400
209.20
Buy
10400
212.80
101.60
98.40
10501.60
65.20
134.80
10334.80
Sell
10600
107.60
Sell
10200
147.60
Buy
10500
154.30
Buy
10300
178.25
46.70
53.30
10546.70
30.65
69.35
10269.35
Sell
10600
107.60
Sell
10200
147.60
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
November 01, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
307
313
319
325
331
ASIANPAINT
1,165
1,198
1,216
1,249
1,268
AXISBANK
547
565
575
593
603
BAJAJ-AUTO
2,437
2,515
2,565
2,643
2,692
BAJFINANCE
2,275
2,329
2,360
2,414
2,446
BAJAJFINSV
5,166
5,285
5,361
5,480
5,556
BPCL
260
267
272
280
284
BHARTIARTL
273
283
289
299
305
INFRATEL
255
262
267
274
278
CIPLA
597
613
622
639
648
COALINDIA
262
264
266
268
270
DRREDDY
2,375
2,459
2,507
2,590
2,638
EICHERMOT
20,230
21,047
21,519
22,336
22,807
GAIL
351
363
370
381
388
GRASIM
768
801
820
853
872
HCLTECH
977
1,017
1,041
1,080
1,105
HDFCBANK
1,872
1,892
1,905
1,925
1,938
HDFC
1,643
1,706
1,740
1,803
1,838
HEROMOTOCO
2,658
2,710
2,765
2,817
2,872
HINDALCO
212
216
220
224
228
HINDPETRO
217
220
223
227
229
HINDUNILVR
1,541
1,581
1,603
1,643
1,665
IBULHSGFIN
743
789
815
861
887
ICICIBANK
337
346
351
360
366
IOC
134
136
137
140
141
INDUSINDBK
1,295
1,360
1,398
1,463
1,501
INFY
651
669
681
699
711
ITC
270
275
278
283
286
JSW STEEL
321
330
336
345
351
KOTAKBANK
1,092
1,106
1,120
1,134
1,148
LT
1,229
1,263
1,284
1,318
1,338
M&M
723
744
757
778
791
MARUTI
6,365
6,491
6,625
6,751
6,885
NTPC
153
156
159
162
164
ONGC
150
151
153
155
157
POWERGRID
176
181
184
189
192
RELIANCE
1,039
1,050
1,058
1,069
1,077
SBIN
263
272
278
287
292
SUNPHARMA
553
566
574
588
596
TCS
1,851
1,894
1,919
1,963
1,988
TATAMOTORS
171
175
178
182
184
TATASTEEL
519
536
547
565
575
TECHM
645
695
722
771
798
TITAN
808
826
837
856
866
ULTRACEMCO
3,319
3,409
3,464
3,555
3,610
UPL
623
649
663
689
703
VEDANTA
204
207
211
214
218
WIPRO
317
324
329
336
341
YESBANK
176
182
186
192
196
ZEEL
422
436
446
460
470
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Technical & Derivatives Report
November 01, 2018
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
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