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Technical & Derivatives Report
Januar
y 03, 2020
Sensex (
41627
(1
2282
)
We witnessed some boredom in last three days in benchmark
indices with mild profit booking. But the real action was seen in
the broader end of the spectrum as we saw stellar moves in
bundle of stocks from the cash segment. Yesterday, the session
clearly belonged to handful of heavyweight movers and midcaps
from the Derivatives segment. Clearly it was a feast for FO
traders as so many liquid names clocked good intraday rally. As
far as Nifty is concerned, marquee names likes RIL, HDFC Twins,
ICICI Bank and not to forget Larsen and Toubro, who finally
looked like coming out of the slumber. When these names start
moving then no brainer the benchmark had to do well. This is
what we saw and throughout the day, the buying momentum
continued in the market.
With yesterday’s spectacular move, the Nifty is at a kissing
distance away from its record highs and the way it’s shaped up
now, we will not be surprised to see it surpassing today at the
opening itself. The daily chart clearly exhibits a configuration of
‘Bullish Flag’. The breakout will get confirmed once prices sustain
above 12300 to continue their march towards 12400 12500.
On the downside, in case of any initial decline, a move towards
12240 12220 should be used as a buying opportunity. We
continue to remain sanguine on the market and advice traders
not to be a brave heart by taking contradictory bets against the
direction.
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
32444
)
The BankNifty index opened marginally positive yesterday.
However, on the day of the weekly expiry, the index witnessed
positive momentum right from the word go and it rallied higher to
post gains of over a percent at close.
In last few days, the index has consolidated in a range which we
have been interpreting as a time-wise correction within an
uptrend. In this consolidation phase, the overall market breadth
was robust and this led to a resumption of the uptrend in the
indices as well. The Banking space witnessed good momentum
throughout the session and now it seems to be geared for a
resumption of its uptrend. Hence, we continue with our advice for
traders to trade with a positive bias. The immediate support for
the index are placed around 32170 and 32050 whereas we
expect the index to rally towards 32800-33000 in the near term.
Key Levels
Support 1 – 32170 Resistance 1 – 32800
Support 2 – 32050 Resistance 2 – 33000
Exhibit 2: Nifty Bank Daily Chart
Nifty and Bank Nifty both are well positioned to extend rallies
and enter into an uncharted territory, but the real focus should
be on the midcap index. On Monday, we had highlighted how
midcap index is shaping up and is poised for strong rally. In last
four days, it has proved its significance and yesterday, it has
managed to give a decisive breakout from ‘Inverse Head and
Shoulder’ pattern. Recently, midcap and small cap counters have
been buzzing and looking at this price development, we
probably sense a beginning of a strong up move from hereon.
Key Levels
Support 1 – 12240 Resistance 1 – 12300
Support 2 – 12220 Resistance 2 – 12400
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Technical & Derivatives Report
January 03, 2020
Nifty Vs OI
Views
Finally after some consolidation in the last couple of
sessions, we saw a strong upmove along with a smart
rally in heavyweights and mid-cap counters.
Throughout the day, we saw decent strength with index
inching higher to eventually conclude the session
almost at the peak.
FIIs were net buyers in the cash market segment to the
tune of Rs. 689 crores. In index futures, they sold worth
Rs. 235 crores with rise in open interest, indicating
some short formation took place in yesterday’s trading
session.
In recent consolidation, we haven’t seen any relevant
open interest activities in both the indices. Yesterday’s
recovery was supported by addition of fresh long
position in Nifty futures; whereas, we saw a blend of
short covering and long formation in case of banking
index. In the coming weekly series, we saw the base
shifting higher to 12200 and huge longs were formed
in 12300-12500 call options. At the same time, we
saw good amount of unwinding in OTM call strikes
(12300-12500) of monthly series, which is again a
positive development. Considering the above data
points, we expect the extension of yesterday’s rally
towards 12450-12500 mark.
Comments
The Nifty futures open interest has increased by 3.51%
Bank Nifty futures open interest has decreased 0.49% as
market closed at 12282.20 levels.
The Nifty January future closed with a premium of 57.10
points against a premium of 61.30 points in last trading
session. The February series closed at a premium of
97.20 points.
The INDIA VIX has decreased from 11.59 to 11.49.
At the same time, the PCR-OI of Nifty has increased from
1.15 to 1.47.
Few of the liquid counters where we have seen high cost
of carry are IDEA, TATAPOWER, BHEL, MGL and NCC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
RAMCOCEM 1269600 24.57 769.10 2.24
SUNTV 5071200 21.37 434.20 -1.11
PVR 1276400 18.36 1879.35 -1.26
MINDTREE 1188800 10.90 813.70 -0.21
EICHERMOT 308910 9.17 21601.15 -2.24
NATIONALUM 50614200 8.99 45.95 6.34
BEL 30378000 8.79 103.15 2.93
TVSMOTOR 6056100 8.12 459.35 -2.18
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ESCORTS 5302000 -10.23 618.90 2.07
SAIL 86381400 -6.60 47.25 9.97
APOLLOTYRE 8841000 -5.88 170.35 4.08
AMBUJACEM 18125000 -4.29 205.35 4.47
APOLLOHOSP 1576500 -2.81 1494.65 4.37
YESBANK 269658400 -2.79 47.35 3.57
ASHOKLEY 56624000 -2.43 84.00 3.68
ZEEL 28322000 -2.42 289.60 0.28
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.47 0.97
BANKNIFTY 1.39 0.71
RELIANCE 0.66 0.53
ICICIBANK 0.57 0.54
INFY 0.60 0.60
Historical Volatility
SCRIP HV
SHREECEM 27.70
SAIL 62.54
PNBHOUSING 69.01
ULTRACEMCO 30.31
NATIONALUM 45.24
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Technical & Derivatives Report
January 03, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot
=
12
282.20
Lot Size = 75
FII Statistics for
January
02, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
2101.39 2336.56 (235.17) 117764 10230.55 0.83
INDEX
OPTIONS
342271.48 337918.88 4352.60
526787 45560.78 (0.23)
STOCK
FUTURES
9782.95 9080.23 702.72
1437009 97447.56 0.94
STOCK
OPTIONS
2999.65 2892.79 106.86
41272 2765.77 12.08
Total 357155.47
352228.46
4927.01
2122832
156004.66
0.83
Turnover on
January
02
, 20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
229752 17524.98 53.68
INDEX
OPTIONS
40113576 2803047.78 163.48
STOCK
FUTURES
622590 42089.51 58.24
STOCK
OPTIONS
507115 36187.95 62.74
TOTAL 4,14,73,033
2898850.22 157.88
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12300 160.25
55.15 44.85 12355.15
Sell 12400 105.10
Buy 12300 160.25
96.20 103.80 12396.20
Sell 12500 64.05
Buy 12400 105.10
41.05 58.95 12441.05
Sell 12500 64.05
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12300 121.25
33.00 67.00 12267.00
Sell 12200 88.25
Buy 12300 121.25
58.00 142.00 12242.00
Sell 12100 63.25
Buy 12200 88.25
25.00 75.00 12175.00
Sell 12100 63.25
Nifty Put-Call Analysis
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January 03, 2020
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 373 378
381 386 390
ASIANPAINT 1,775 1,783
1,791 1,799 1,808
AXISBANK 743 750
755 761 766
BAJAJ-AUTO 3,075 3,098
3,135 3,158 3,196
BAJFINANCE 4,198 4,222
4,259 4,283 4,320
BAJAJFINSV 9,319 9,412
9,472 9,565 9,624
BPCL 483 485
489 491 494
BHARTIARTL 450 453
456 459 462
INFRATEL 250 252
255 257 259
BRITANNIA 3,032 3,043
3,054 3,065 3,076
CIPLA 468 471
475 478 483
COALINDIA 206 209
211 213 215
DRREDDY 2,840 2,853
2,873 2,885 2,905
EICHERMOT 20,934 21,267
21,805 22,138 22,675
GAIL 119 121
123 125 126
GRASIM 731 749
759 776 786
HCLTECH 569 571
573 576 578
HDFCBANK 1,276 1,281
1,285 1,290 1,294
HDFC 2,403 2,435
2,454 2,485 2,504
HEROMOTOCO 2,398 2,414
2,433 2,449 2,468
HINDALCO 214 217
219 222 224
HINDUNILVR 1,918 1,928
1,940 1,950 1,963
ICICIBANK 533 537
539 543 546
IOC 126 126
127 127 128
INDUSINDBK 1,468 1,499
1,516 1,547 1,565
INFY 726 730
735 740 745
ITC 237 238
240 241 242
JSW STEEL 270 273
275 278 280
KOTAKBANK 1,654 1,663
1,673 1,682 1,692
LT 1,298 1,322
1,335 1,359 1,372
M&M 531 535
538 543 546
MARUTI 7,281 7,305
7,337 7,361 7,393
NESTLEIND 14,591 14,660
14,756 14,826 14,922
NTPC 120 121
121 122 123
ONGC 126 127
128 129 129
POWERGRID 193 194
195 196 198
RELIANCE 1,500 1,518
1,529 1,547 1,558
SBIN 331 335
338 342 344
SUNPHARMA 426 430
437 441 447
TCS 2,132 2,145
2,162 2,175 2,193
TATAMOTORS 181 187
191 197 201
TATASTEEL 466 475
482 491 497
TECHM 757 762
765 770 774
TITAN 1,132 1,144
1,152 1,164 1,172
ULTRACEMCO 4,002 4,123
4,190 4,311 4,378
UPL 579 587
592 600 605
VEDANTA 154 157
158 161 163
WIPRO 245 246
248 250 252
YESBANK 45 46
47 48 50
ZEEL 274 282
287 294 299
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Technical & Derivatives Report
January 03, 2020
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cs[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]angelbroking.com
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