Technical & Derivatives Report
May 06, 2019
Sensex (38963) / Nifty (11712)
Exhibit 1: Nifty Daily Chart
During the last week, our markets had a sluggish opening on
Tuesday as there was no major trigger on the domestic as well as
global front. Yes, Brent crude cooled off a bit; but our markets
had already discounted it while closing on previous Friday.
During the initial hour, all of a sudden, index took a nosedive
and in the process, we once again slipped below the key support
of 11700. Fortunately for us, quite similar to earlier session, we
had a good upsurge during the penultimate hour, which pulled
the index back into the relatively safer territory. This was followed
by two back to back muted sessions to conclude the truncated
week tad above the 11700 mark.
It was yet another week of consolidation for our markets, in fact
the overall intra-week range shrunk drastically due to less number
of sessions. Honestly speaking, there is nothing much to comment
on considering the muted price action. The only notable
observation that can be highlighted is the formation of a
‘Triangle’ pattern on hourly chart. Hence, going ahead, 11790 -
11655 are the levels to watch out for. A decisive move in either
direction would confirm a breakout and thereby would provide an
immediate path of action for the market participants.
At present, the ideal strategy would be to keep focusing on
individual pockets that were buzzing during the week. We are
heading towards the mega event (Election Verdict slated on May
23) and hence, a possibility of rise in volatility cannot be ruled
out. One needs to keep this thing in mind and should position
accordingly from henceforth till the actual event day.
Key Levels
Support 1 - 11700
Resistance 1 -
11800
Support 2 - 11655
Resistance 2 -
11856
Nifty Bank Outlook - (29954)
Exhibit 2: Nifty Bank Daily Chart
During the last week, the Nifty Bank index too consolidated in a
narrow range. On Friday, the index rallied higher during the
latter part of the session to cross the resistance of
30050.
However, it did not sustain above the same and ultimately gave
up some of the gains to end the week below the 30000 mark.
Since last seven sessions, the Nifty Bank index has consolidated in
a range which seems to be a time-wise correction within an
uptrend. Usually, breakouts out of such consolidation phase lead
to a trended move and hence traders are advised to be vigilant
on the moves in the coming week. The index needs to sustain
above the resistance of 30050 to gains some momentum. On the
flipside, 29430-29550 is the immediate support.
Key Levels
Support 1 - 29550
Resistance 1 -
30050
Support 2 - 29430
Resistance 2 -
30120
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Technical & Derivatives Report
May 06, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.56%.
Bank Nifty futures open interest has decreased by 2.74%
as market closed at 117212.25 levels.
The Nifty May future closed with a premium of 52.05
points against a premium of 40.65 points in last trading
session. The June series closed at a premium of 58.85
points.
The INDIA VIX has increased from 22.98 to 24.03.
At the same time, the PCR-OI of Nifty has increased from
1.39 to 1.49.
Few of the liquid counters where we have seen high cost
of carry are RPOWER, SUZLON, OFSS, NATIONALUM
and MFSL.
Views
OI Gainers
In the truncated week, we hardly saw any major price
OI
PRICE
action as index traded in a range of merely 150 points.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
FII’s were net sellers in the equity segment to the tune of
DHFL
21233500
21.66
141.30
5.95
Rs. 400 crores. In index futures front, they were buyers of
CHOLAFIN
653500
19.91
1317.25
-1.40
Rs. 153 crores with rise in open interest, indicating some
TORNTPHARM
832000
16.69
1750.15
-1.08
long formation on Friday’s session.
CIPLA
11686000
11.97
564.50
0.13
In index options front, they were buyers of Rs. 568 crores
BRITANNIA
2251600
10.49
2696.15
-2.98
with good amount of rise in OI. Traders were quite active
MGL
661200
9.54
945.95
-1.03
in index options and the build-up was scattered between
BERGEPAINT
2802800
8.52
311.90
-0.73
11750-12000 call and
11550-11750 put options.
L&TFH
26194500
8.38
127.15
-2.77
Whereas, maximum open interest concentration stood at
11800 call and 11700 put options.
During the week, decent unwinding was seen in both
OI Losers
Nifty as well as BankNifty. However, good amount of
OI
PRICE
SCRIP
OI
PRICE
longs rolled over in May series are still intact in the
CHG. (%)
CHG. (%)
system. At present, 11650-11700 has acted as a very
AJANTPHARM
818000
-12.84
1051.70
-1.88
strong support for the market; whereas, 11800 is an
CONCOR
1605201
-11.77
505.30
-1.90
immediate hurdle. In the weekly series, highest open
JETAIRWAYS
5915800
-8.04
135.50
-1.30
interest is placed at 11700 puts and we have been
APOLLOHOSP
1115500
-7.00
1199.30
0.49
witnessing fresh writing in the same strike in last couple
CANFINHOME
3857400
-6.62
332.75
-2.88
of sessions. Hence, we would advise traders to trade with
STAR
2293500
-5.74
483.35
0.61
a positive bias and use intraday declines to re-enter.
RAYMOND
3363200
-5.34
760.30
2.91
INFIBEAM
9396000
-5.32
43.40
1.75
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TATACOMM
26.76
NIFTY
1.49
0.82
BHARATFORG
39.24
BANKNIFTY
1.00
0.80
RPOWER
162.81
RELIANCE
0.69
0.60
CADILAHC
33.05
ICICIBANK
0.61
0.57
TATACHEM
27.43
INFY
1.02
0.64
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Technical & Derivatives Report
May 06, 2019
FII Statistics for May 03, 2019
Turnover on May 03, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2074.68
1921.27
153.41
260262
21421.25
1.25
200848
14372.63
-21.04
FUTURES
FUTURES
INDEX
INDEX
121951.39
121383.44
567.95
688538
55256.46
8.85
8267584
557889.71
-73.63
OPTIONS
OPTIONS
STOCK
10688.60
10140.97
547.63
1426620
85456.03
0.79
STOCK
FUTURES
718015
40624.30
-13.58
FUTURES
STOCK
STOCK
4777.83
4711.27
66.56
83311
4873.34
11.22
537844
31963.62
-6.05
OPTIONS
OPTIONS
Total
139492.49
138156.95
1335.54
2458731
167007.08
3.31
TOTAL
732838
2568108
-70.88
Nifty Spot = 11724.75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11700
344.40
Buy
11700
281.35
54.10
45.90
11754.10
39.75
60.25
11660.25
Sell
11800
290.30
Sell
11600
241.60
Buy
11700
344.40
Buy
11700
281.35
106.05
93.95
11806.05
73.95
126.05
11626.05
Sell
11900
238.35
Sell
11500
207.40
Buy
11800
290.30
Buy
11600
241.60
51.95
48.05
11851.95
34.20
65.80
11565.80
Sell
11900
238.35
Sell
11500
207.40
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
May 06, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
377
382
390
395
404
ASIANPAINT
1,418
1,429
1,442
1,452
1,466
AXISBANK
748
753
758
763
769
BAJAJ-AUTO
3,003
3,031
3,049
3,077
3,095
BAJFINANCE
3,064
3,088
3,126
3,150
3,189
BAJAJFINSV
7,548
7,586
7,628
7,666
7,708
BPCL
374
377
382
385
390
BHARTIARTL
321
326
330
335
339
INFRATEL
268
271
275
278
281
BRITANNIA
2,616
2,656
2,730
2,770
2,844
CIPLA
555
560
566
571
578
COALINDIA
248
250
253
255
258
DRREDDY
2,868
2,888
2,910
2,930
2,952
EICHERMOT
20,171
20,262
20,431
20,522
20,691
GAIL
338
342
346
350
355
GRASIM
868
883
897
912
925
HCLTECH
1,117
1,130
1,139
1,153
1,162
HDFCBANK
2,346
2,357
2,367
2,378
2,389
HDFC
1,977
1,992
2,015
2,029
2,052
HEROMOTOCO
2,514
2,540
2,563
2,589
2,613
HINDALCO
201
203
205
207
208
HINDUNILVR
1,656
1,675
1,701
1,720
1,746
IBULHSGFIN
658
682
696
720
734
ICICIBANK
390
396
401
406
411
IOC
153
155
157
159
162
INDUSINDBK
1,529
1,543
1,561
1,575
1,593
INFY
711
718
724
730
737
ITC
301
303
305
307
309
JSW STEEL
303
306
308
311
313
KOTAKBANK
1,382
1,400
1,418
1,436
1,453
LT
1,352
1,358
1,366
1,371
1,379
M&M
637
642
647
651
657
MARUTI
6,617
6,663
6,722
6,768
6,827
NTPC
131
133
135
137
139
ONGC
167
169
170
172
173
POWERGRID
189
190
191
192
194
RELIANCE
1,395
1,402
1,410
1,417
1,425
SBIN
307
309
310
312
313
SUNPHARMA
445
449
453
457
460
TCS
2,087
2,109
2,148
2,170
2,209
TATAMOTORS
198
204
209
214
219
TATASTEEL
541
544
550
554
560
TECHM
800
809
822
830
843
TITAN
1,125
1,135
1,145
1,155
1,165
ULTRACEMCO
4,506
4,536
4,582
4,612
4,658
UPL
953
962
968
977
983
VEDANTA
164
166
168
169
171
WIPRO
286
288
291
294
296
YESBANK
166
171
174
179
183
ZEEL
402
407
415
419
427
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Technical & Derivatives Report
May 06, 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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