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Technical & Derivatives Report
January 06, 2020
Sensex (
41465
) / Nifty
2227
)
During the week gone by, the benchmark index witnessed
lethargic move in the first three sessions with some profit booking.
Subsequently, the market then exhibited remarkable recovery on
Thursday with the Nifty ending just below the recently marked all-
time high levels (12293.90). The stage was all set on Friday for a
gap up opening and extending the optimism however the fresh
geopolitical tensions spooked the sentiment resulting in a weak
start on Friday. The Index then crept lower throughout the day
and ended with a loss of around half a percent at 12227 and
almost flat on a weekly basis.
After the sharp rally seen in the initial December month from the
recent lows of 11832, the prices have now slipped into a
consolidation phase for the last three weeks in a range of 12100-
12300. The daily chart depicts this price structure as a formation
of a Bullish Flag pattern. Now as per the pattern, the next
momentum move can trigger only above 12300 which can then
open doors towards 12400-12500 levels. However, till then the
prices may continue to remain in range 12100-12300 with the
lower side of the range at 12100 to act as sacrosanct support.
The bias remains positive and hence traders are advised to avoid
contra bets and maintain a positive stance.
Key Levels
Support 1 – 12180 Resistance 1 – 12300
Support 2 – 12100 Resistance 2 – 12330
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
32069
)
Bank Nifty Index too started on a weak note on Friday and
slide lower throughout the session to end with a loss of around
a percent at 32069.
For the last few weeks, the bank nifty has entered into time-
wise correction within 31850 - 32600 range. Technically, not
much has changed and the next momentum move can only be
seen on a range break from the mentioned levels. The primary
uptrend remains intact and hence traders are advised to
continue with stock-specific approach from the banking space
which are likely to give better trending moves.
Key Levels
Support 1 – 32000 Resistance 1 – 32330
Support 2 – 31850 Resistance 2 – 32480
Exhibit 2: Nifty Bank Daily Chart
The key highlight of the week was the strong outperformance by
the midcap basket as compared to the benchmark index. The
stocks from the midcap space witnessed stupendous rally and
moved intraday 5-7% with ease. This is totally in line with what
we have been saying since the last couple of weeks and at this
juncture, with the visibility of ‘Inverse Head and Shoulder’
pattern breakout in the midcap index, the outperformance is
likely to continue in the near term. It seems like a payback time
from the Midcap counters which have been underperforming as
compared to front line counters for the past more than 2.5 years
and hence, we echo our stance that traders should continue with
the stock specific long approach in the midcap space.
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Technical & Derivatives Report
January 06, 2020
Nifty Vs OI
Views
During the week, we saw some profit booking for the
first three consecutive sessions and then on Thursday
sharp recovery was seen to inch almost towards 12300
mark. However, the conflict between US and Iraq
intensified which resulted in decent profit booking on
Friday.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1263 crores. In index futures, they sold
worth Rs. 846 crores with rise in open interest,
indicating addition of fresh short formation took place
on Friday’s trading session.
As far as open interest activities are concerned, we
hardly saw any fresh build-up in both the indices on a
weekly basis. Due to the geo-political tension, the put
writers of 12200-12300 looked fearful and hence
covered their positions. This was followed by fresh
writing in 12300-12500 call options. At current
juncture, we haven’t witnessed any meaningful shorts in
the system and 12100-12150 still remains a strong
base for the benchmark index. Thus, we would advise
traders avoiding any bearish bets until we manage to
sustain above the mentioned support zone.
Comments
The Nifty futures open interest has decreased by 3.97%
Bank Nifty futures open interest has decreased 3.22% as
market closed at 12226.65 levels.
The Nifty January future closed with a premium of 29.80
points against a premium of 57.10 points in last trading
session. The February series closed at a premium of
71.95 points.
The INDIA VIX has increased from 11.49 to 12.69.
At the same time, the PCR-OI of Nifty has decreased
from 1.47 to 1.37.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GMRINFRA, BEL, CHOLAFIN and
MANAPPURAM.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MINDTREE 1336800 12.45 815.55 -0.55
CUMMINSIND 1922400 11.72 573.00 0.86
BEL 33096000 8.95 100.95 -1.84
ZEEL 30775100 8.66 273.70 -5.30
GLENMARK 5899600 8.30 352.10 -0.28
ONGC 40467000 8.15 128.45 0.00
CHOLAFIN 4255000 7.59 303.05 -1.69
MFSL 11182600 7.03 564.05 2.23
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IBULHSGFIN 21594000 -8.02 329.60 0.55
GAIL 50347626 -7.53 125.65 1.17
BPCL 29628000 -6.93 483.30 -1.18
NBCC 37380200 -6.51 36.90 -1.20
TATASTEEL 23596500 -5.91 483.70 -0.38
CENTURYTEX 3579000 -5.56 476.85 -2.81
NCC 43506000 -5.38 58.10 -0.51
SAIL 82079600 -4.98 46.65 -1.27
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.37 1.12
BANKNIFTY 0.90 1.11
RELIANCE 0.70 0.66
ICICIBANK 0.62 0.92
INFY 0.58 0.38
Historical Volatility
SCRIP HV
ASIANPAINT 19.97
GMRINFRA 43.33
HCLTECH 20.07
APOLLOTYRE 36.07
MCDOWELL-N 20.77
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Technical & Derivatives Report
January 06, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot
=
122
26.65
Lot Size = 75
FII Statistics for
January
03
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3064.78 3910.52 (845.74) 120192 10444.82 2.06
INDEX
OPTIONS
182988.20 181724.75 1263.45
618200 52409.55 17.35
STOCK
FUTURES
11196.74 11214.00 (17.26) 1457121 98197.68 1.40
STOCK
OPTIONS
3612.98 3569.80 43.18
46163 3101.43 11.85
Total 200862.70
200419.07
443.63
2241676
164153.48
5.60
Turnover on
January
03
, 20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
296317 22761.17 29.88
INDEX
OPTIONS
11513022 846621.58 -69.80
STOCK
FUTURES
676492 45508.36 8.12
STOCK
OPTIONS
573054 40945.04 13.15
TOTAL 1,30,58,885
955836.15 -67.03
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12200 182.10
59.60 40.40 12259.60
Sell 12300 122.50
Buy 12200 182.10
104.60 95.40 12304.60
Sell 12400 77.50
Buy 12300 122.50
45.00 55.00 12345.00
Sell 12400 77.50
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12200 128.00
33.30 66.70 12166.70
Sell 12100 94.70
Buy 12200 128.00
57.50 142.50 12142.50
Sell 12000 70.50
Buy 12100 94.70
24.20 75.80 12075.80
Sell 12000 70.50
Nifty Put-Call Analysis
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January 06, 2020
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 377 380
382 385 387
ASIANPAINT 1,727 1,739
1,759 1,772 1,792
AXISBANK 731 737
747 753 762
BAJAJ-AUTO 3,025 3,049
3,088 3,112 3,152
BAJFINANCE 4,139 4,166
4,200 4,228 4,262
BAJAJFINSV 9,211 9,278
9,391 9,459 9,572
BPCL 467 475
481 489 495
BHARTIARTL 448 451
455 459 463
INFRATEL 237 243
249 255 261
BRITANNIA 3,007 3,023
3,041 3,057 3,076
CIPLA 462 466
471 475 480
COALINDIA 206 209
211 214 216
DRREDDY 2,833 2,858
2,878 2,903 2,923
EICHERMOT 20,766 20,978
21,322 21,533 21,878
GAIL 121 123
126 128 131
GRASIM 741 749
759 767 778
HCLTECH 566 576
582 591 598
HDFCBANK 1,251 1,260
1,272 1,281 1,294
HDFC 2,430 2,442
2,454 2,467 2,479
HEROMOTOCO 2,398 2,415
2,432 2,449 2,466
HINDALCO 214 215
217 219 221
HINDUNILVR 1,907 1,917
1,929 1,939 1,950
ICICIBANK 534 536
539 541 543
IOC 125 126
127 128 128
INDUSINDBK 1,500 1,515
1,526 1,541 1,552
INFY 729 737
743 751 757
ITC 236 237
239 240 242
JSW STEEL 268 270
273 276 279
KOTAKBANK 1,631 1,644
1,659 1,672 1,686
LT 1,322 1,328
1,337 1,343 1,352
M&M 525 529
534 538 543
MARUTI 7,165 7,210
7,271 7,316 7,377
NESTLEIND 14,409 14,501
14,648 14,740 14,887
NTPC 118 119
120 121 122
ONGC 125 127
130 132 135
POWERGRID 189 191
193 195 197
RELIANCE 1,515 1,526
1,534 1,545 1,553
SBIN 329 331
335 337 341
SUNPHARMA 425 435
443 452 460
TCS 2,137 2,169
2,196 2,228 2,255
TATAMOTORS 186 188
192 195 198
TATASTEEL 476 480
483 487 490
TECHM 757 766
773 782 789
TITAN 1,119 1,129
1,143 1,153 1,167
ULTRACEMCO 4,149 4,184
4,221 4,256 4,293
UPL 584 587
591 594 598
VEDANTA 154 156
158 160 163
WIPRO 245 248
250 253 256
YESBANK 46 47
47 48 49
ZEEL 262 268
278 284 295
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Technical & Derivatives Report
January 06, 2020
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.[email protected]angelbroking.com
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