Technical & Derivatives Report
April 04, 2019
Sensex (38877) / Nifty (11644)
Exhibit 1: Nifty Daily Chart
For the seventh successive session we had a gap up opening in
our market, owing to strong positive cues from the global peers.
In the initial half an hour of the trade, our benchmark Nifty
clocked a fresh record high by a slender margin. In fact, it was
not even by a single point and did not last too long as well. This
was followed by some consolidation before index taking a
nosedive in the penultimate hour not only to wipe off all gains but
also to close in the negative territory by losing six tenths of a
percent to the previous close.
Looking at yesterday’s price action, our market seemed to have
given some reality check to those who became gung ho after
index surpassing previous highs. By saying this, we certainly do
not mean that it’s a change of trend. The bias still remains bullish
but one needs to understand that since we are at such elevated
levels, traders should not become too complacent and enter at
any level. We still believe that it’s a matter of time we would see
new highs soon (on a sustainable basis). Now, with yesterday’s
sharp decline, Nifty has precisely filled the gap created on April
01 and also retested ‘5-day EMA’. For the coming session,
11620 followed by 11570 would be seen as immediate supports.
Any decline towards these levels is likely to get bought into and
hence, we still continue with our buy on dips strategy. On the
higher side, 11700 - 11760 are the levels to watch out for.
The pragmatic approach at this juncture remains to be a stock
specific one. Traders should identify stocks that have corrected
back to their supports after confirming breakouts recently and
should capitalize on the same.
Key Levels
Support 1 - 11620
Resistance 1 -
11700
Support 2 - 11570
Resistance 2 -
11760
Nifty Bank Outlook - (30093)
Exhibit 2: Nifty Bank Daily Chart
Post a consolidation of three trading sessions, the stock from the
banking space witnessed some profit booking ahead of the RBI's
Monetary Policy outcome. The index ended the session with a loss
of over 250 points to conclude tad below 30100.
There has been a couple of divergences seen in the banking
space. One if the negative divergence with the RSI on the Bank
Nifty daily chart and another is the formation of a Bearish
Engulfing pattern on the Nifty PSU Banking index. Such
divergence ahead of the RBI policy indicates some profit booking
by market participants post the sharp run up seen in last one
month. Although, the broader trend continues to be positive and
this would be seen as a breather within an uptrend. The near
term support for the index is placed in the range of 29800 -
29750 and resistances are seen around 30325 and 30600.
Key Levels
Support 1 - 29800
Resistance 1 -
30325
Support 2 - 29750
Resistance 2 -
30600
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Technical & Derivatives Report
April 04, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.31%.
Bank Nifty futures open interest has decreased by 3.08%
as market closed at 11643.95 levels.
The Nifty April future closed with a premium of 85.70
points against a premium of 66.30 points in last trading
session. The May series closed at a premium of 152.25
points.
The INDIA VIX has increased from 18.08 to 18.78.
At the same time, the PCR-OI of Nifty has decreased
from 1.52 to 1.42.
Few of the liquid counters where we have seen high cost
of carry are EQUITAS, GMRINFRA, RPOWER, DISHTV
and INFRATEL.
Views
OI Gainers
On again we had a positive start yesterday and soon we
OI
PRICE
SCRIP
OI
PRICE
clocked a record high in the early morning trade. Post
CHG. (%)
CHG. (%)
some consolidation; we witnessed sharp profit booked in
AMARAJABAT
1892800
37.26
672.35
-7.13
the final hour to conclude the session with a cut of 0.595.
DISHTV
61112000
23.79
38.25
-2.77
After quite some time, FIIs were net sellers in cash market
BPCL
8497800
22.46
363.20
-4.45
segment to the tune of Rs. 1040 crores. In index futures
JETAIRWAYS
7568000
21.55
251.75
-3.80
segment, they were marginal buyers with fall in open
AMBUJACEM
14080000
15.67
226.75
-1.40
interest, indicating unwinding of existing positions in
BAJAJFINSV
678750
14.34
7401.55
1.72
yesterday’s session.
UJJIVAN
3046400
12.60
330.30
-2.12
In index options front, they were buyers of Rs. 877 crores
MARICO
5881200
11.92
354.90
2.73
with marginal rise in OI. In call options, 11650-11800
strikes added some fresh positions along with unwinding
in 11900 strikes. On the other side, decent unwinding
OI Losers
took place in 11400-11700 puts. Now, the maximum OI
OI
PRICE
SCRIP
OI
PRICE
concentration this weekly expiry stood at 11800 call and
CHG. (%)
CHG. (%)
CHOLAFIN
556000
-12.51
1463.40
-1.08
11500 put options.
HEXAWARE
2536500
-8.59
360.85
0.19
Yesterday, we witnessed some profit booking in index
SIEMENS
1671450
-7.88
1160.80
2.33
futures from the higher levels. In options segment, put
HINDZINC
3760000
-7.48
282.35
-0.33
writer of OTM puts ran for shelter seeing sudden sell-off.
At present, around
11500-11550 is an immediate
ARVIND
4970000
-6.75
90.10
-2.53
support zone; whereas, 11750-11800 shall act as the
ORIENTBANK
15953000
-6.44
111.60
-4.28
hurdle. Traders are advised avoiding any aggressive
UNIONBANK
33068000
-6.31
94.80
-4.32
shorts unless we see any follow-up selling below the
BANKBARODA
50304000
-5.97
132.05
-1.12
above mentioned support levels.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
AMARAJABAT
40.51
NIFTY
1.42
0.88
NHPC
30.45
BANKNIFTY
0.71
0.95
OFSS
24.79
RELIANCE
0.55
0.61
MARICO
27.32
ICICIBANK
0.60
0.67
TATAPOWER
36.58
INFY
1.22
0.39
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Technical & Derivatives Report
April 04, 2019
FII Statistics for April 03, 2019
Turnover on April 03, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2828.97
2736.93
92.04
219249
17713.69
(4.07)
245385
18192.81
6.26
FUTURES
FUTURES
INDEX
INDEX
191022.58
190145.90
876.67
804337
63656.14
0.17
12623146
868553.42
35.03
OPTIONS
OPTIONS
STOCK
13789.21
12432.92
1356.29
1410192
91442.59
0.81
STOCK
FUTURES
815082
50649.32
-2.44
FUTURES
STOCK
STOCK
6153.10
6122.43
30.67
87714
5624.24
12.95
669426
43014.79
-2.98
OPTIONS
OPTIONS
Total
213793.85
211438.18
2355.67
2521492
178436.66
0.53
TOTAL
74455
700968
29.58
Nifty Spot = 11643.95
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11700
178.80
Buy
11600
114.05
52.10
47.90
11752.10
27.75
72.25
11572.25
Sell
11800
126.70
Sell
11500
86.30
Buy
11700
178.80
Buy
11600
114.05
95.10
104.90
11795.10
50.30
149.70
11549.70
Sell
11900
83.70
Sell
11400
63.75
Buy
11800
126.70
Buy
11500
86.30
43.00
57.00
11843.00
22.55
77.45
11477.45
Sell
11900
83.70
Sell
11400
63.75
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 04, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
376
379
383
386
389
ASIANPAINT
1,470
1,484
1,507
1,521
1,544
AXISBANK
750
756
764
770
778
BAJAJ-AUTO
2,806
2,827
2,852
2,873
2,898
BAJFINANCE
3,007
3,026
3,058
3,077
3,109
BAJAJFINSV
7,214
7,308
7,379
7,473
7,544
BPCL
349
356
369
376
389
BHARTIARTL
338
344
354
360
369
INFRATEL
311
314
317
320
323
BRITANNIA
2,928
2,959
2,986
3,017
3,045
CIPLA
516
518
521
524
527
COALINDIA
231
232
235
236
239
DRREDDY
2,727
2,746
2,777
2,797
2,828
EICHERMOT
19,900
20,051
20,264
20,415
20,627
GAIL
342
347
356
361
370
GRASIM
813
822
837
847
861
HCLTECH
1,073
1,097
1,115
1,139
1,157
HDFCBANK
2,271
2,282
2,299
2,310
2,327
HDFC
1,979
1,996
2,014
2,031
2,050
HEROMOTOCO
2,553
2,567
2,580
2,594
2,607
HINDALCO
211
214
216
219
221
HINDUNILVR
1,657
1,664
1,675
1,682
1,693
IBULHSGFIN
818
844
868
894
919
ICICIBANK
383
388
395
400
407
IOC
149
151
155
158
162
INDUSINDBK
1,728
1,751
1,785
1,807
1,841
INFY
741
747
753
759
765
ITC
293
295
297
298
301
JSW STEEL
285
287
291
293
297
KOTAKBANK
1,314
1,324
1,341
1,351
1,367
LT
1,349
1,364
1,389
1,404
1,429
M&M
644
651
664
671
684
MARUTI
6,820
6,947
7,022
7,149
7,224
NTPC
132
133
135
137
139
ONGC
152
154
156
158
161
POWERGRID
199
200
201
202
204
RELIANCE
1,352
1,364
1,383
1,395
1,414
SBIN
311
316
324
329
337
SUNPHARMA
450
456
465
471
480
TCS
2,044
2,062
2,076
2,093
2,107
TATAMOTORS
193
197
203
207
213
TATASTEEL
525
530
539
544
553
TECHM
765
772
782
789
800
TITAN
1,079
1,090
1,109
1,119
1,138
ULTRACEMCO
3,931
3,966
4,020
4,055
4,109
UPL
908
916
927
935
945
VEDANTA
181
184
187
190
193
WIPRO
256
259
261
264
266
YESBANK
264
269
277
282
291
ZEEL
387
396
410
419
433
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Technical & Derivatives Report
April 04, 2019
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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