Technical & Derivatives Report
August 06, 2019
Sensex (36700) / Nifty (10863)
Exhibit 1: Nifty Daily Chart
The escalated issue with respect to US-China trade war is
weighing down heavily on markets across the globe and we are
not at all spared with this. Despite a smart recovery on Friday, we
had a massive gap down opening to kick-start the new trading
week. This was mainly on the back of a deep cut seen in the Dow
Jones futures early in the morning. The weakness aggravated in
the initial hour to even slide below the 10800 mark for the first
time since February 28, 2019. Fortunately, once again index
managed to recoup major portion of losses to conclude with a
decent cut of over a percent.
Technically speaking, we are extremely oversold since few days
and on Friday, the recovery had come from crucial Fibonacci
ratios. Considering Friday’s close, the set up was just perfect to
have a head start and then continue to some recovery mode. But,
when things go wrong, we tend to have no support from other
Traders are advised not to create fresh short positions at
aspects as well. Yesterday’s gap down opening poured water on
current levels. Rather can look to go long on some candidates
all such hopes. But having said that, yesterday’s close is also a bit
who are poised for some relief rally. In our sense, correction in
encouraging. We have managed to reclaim key Fibonacci ratio
‘Auto’ and ‘Auto Ancillary’ spaces has halted for a while and
and the daily chart now depicts a ‘Bullish Hammer’ pattern. Yes,
we can see some short covering moves in these names.
the said pattern needs to have confirmation in the form of a close
above yesterday’s high i.e. 10895.80. Also, the reading on the
‘RSI-Smoothened’ oscillator on daily chart has reached the lowest
Key Levels
level since October 15, 2018. Hence, since last four sessions,
Support 1 - 10782
Resistance 1 -
10895
although markets are falling in initial trades, they are attempting
Support 2 - 10750
Resistance 2 -
11000
to rebound as well. Probably in next couple of days, markets
would give some respite towards 11000 - 11100. Now SGX
Nifty is hinting towards one more gap down opening and in such
case 10782 - 10750 are likely to act as strong support zone.
Nifty Bank Outlook - (27648)
Exhibit 2: Nifty Bank Daily Chart
Bank Nifty index started trading for the week with a gap down
opening and corrected sharply by more than 800 points in the
first hour of the day. The index recovered some of the losses and
ended the session down by almost two percent over the Friday's
close. There has been no respite in the banking space and the
index continues its short term downtrend. The immediate support
for the index is now placed in the range of 27400-27200
whereas resistances are seen around 27940 and 28000.
Key Levels
Support 1 - 27400
Resistance 1 -
27940
Support 2 - 27200
Resistance 2 -
28000
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Technical & Derivatives Report
August 06, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.87%
Bank Nifty futures open interest has increased by 12.11%
as market closed at 10862.60 levels.
The Nifty August future closed with a premium of 34.20
points against a premium of 26.70 points in last trading
session. The September series closed at a premium of
85.75 points.
The INDIA VIX has increased from 15.18 to 16.58.
At the same time, the PCR-OI of Nifty has decreased
from 1.18 to 1.01.
Few of the liquid counters where we have seen high cost
of carry are IDEA, ADANIPORTS, BSOFT, FEDERALBNK
and MFSL.
Views
OI Gainers
We started-off the week with an downside gap on
OI
PRICE
SCRIP
OI
PRICE
the back of negative global cues. Post opening Nifty
CHG. (%)
CHG. (%)
tanked below 10800 mark and then we saw some
MGL
1340400
14.98
805.50
2.01
respite to recover some of the losses and conclude
NBCC
41760500
13.12
38.20
-10.69
the session tad above 10850 mark.
BEL
42420000
9.48
92.50
-2.49
MOTHERSUMI
35748900
9.26
99.80
-2.85
FIIs were net sellers in cash market segment to the tune
ENGINERSIN
8257000
9.25
93.70
-2.28
of Rs. 2017 cr. In index futures segment, they sold of
UJJIVAN
7065600
9.09
277.65
-2.03
worth Rs. 1155 cr with good amount of rise in open
BERGEPAINT
2160400
8.99
334.20
-0.85
interest; suggesting meaningful shorting took place in
MFSL
3468000
8.04
405.00
-2.21
yesterday’s session.
Recently, we saw decent correction in the benchmark
OI Losers
index along with short positions in index futures. Shorts
OI
PRICE
formed in last series are also in system. Stronger hands
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
too equally participated by selling equities and adding
CESC
830400
-9.66
742.45
-1.42
shorts in index futures. At present, we are short heavy
INFRATEL
6892000
-6.51
245.35
-2.42
and hence expect some recovery going ahead. Hence,
EQUITAS
13484000
-6.44
103.85
-8.84
any dips can be utilized to add some At-The-Money call
NIITTECH
996000
-5.35
1205.30
0.29
options of monthly expiry.
ASIANPAINT
6538200
-5.27
1525.35
-0.98
ADANIPORTS
14367500
-5.15
367.85
-1.79
ASHOKLEY
87102000
-4.49
63.95
-0.77
RAMCOCEM
975200
-4.39
711.55
-1.45
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.01
0.81
ZEEL
60.31
BANKNIFTY
0.59
0.71
RELCAPITAL
130.40
RELIANCE
0.44
0.70
SBIN
43.08
ICICIBANK
0.53
0.70
SUNTV
42.32
INFY
1.09
0.64
TVSMOTOR
57.40
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Technical & Derivatives Report
August 06, 2019
FII Statistics for August 05, 2019
Turnover on August 05, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4832.33
5987.88
(1155.55)
254214
19390.27
14.76
428817
29212.89
-13.18
FUTURES
FUTURES
INDEX
INDEX
141895.82
141288.30
607.52
692915
51887.09
10.00
12426395
837589.80
-15.91
OPTIONS
OPTIONS
STOCK
14167.66
12945.70
1221.96
1522136
88796.63
2.55
STOCK
FUTURES
854704
47711.19
-18.74
FUTURES
STOCK
STOCK
5746.03
5837.85
(91.82)
72494
3985.01
3.47
716552
42699.00
-20.82
OPTIONS
OPTIONS
Total
166641.84
166059.73
582.11
2541759
164059.00
5.65
TOTAL
1,44,26,468
957212.88
-16.21
Nifty Spot = 10862.60
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10900
166.15
Buy
10900
171.00
46.25
53.75
10946.25
40.10
59.90
10859.90
Sell
11000
119.90
Sell
10800
130.90
Buy
10900
166.15
Buy
10900
171.00
85.75
114.25
10985.75
71.75
128.25
10828.25
Sell
11100
80.40
Sell
10700
99.25
Buy
11000
119.90
Buy
10800
130.90
39.50
60.50
11039.50
31.65
68.35
10768.35
Sell
11100
80.40
Sell
10700
99.25
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
August 06, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
353
361
366
374
379
ASIANPAINT
1,503
1,514
1,533
1,544
1,562
AXISBANK
642
652
661
671
680
BAJAJ-AUTO
2,505
2,563
2,603
2,660
2,700
BAJFINANCE
3,111
3,135
3,168
3,192
3,224
BAJAJFINSV
6,895
6,941
6,988
7,034
7,081
BPCL
325
332
339
346
353
BHARTIARTL
330
344
353
367
375
INFRATEL
237
241
246
250
255
BRITANNIA
2,519
2,548
2,573
2,603
2,627
CIPLA
509
514
517
522
526
COALINDIA
189
195
199
205
209
DRREDDY
2,481
2,498
2,518
2,535
2,555
EICHERMOT
16,040
16,272
16,572
16,804
17,104
GAIL
120
122
124
125
128
GRASIM
730
740
756
766
783
HCLTECH
989
1,000
1,008
1,020
1,028
HDFCBANK
2,143
2,161
2,181
2,199
2,218
HDFC
2,088
2,120
2,140
2,172
2,192
HEROMOTOCO
2,304
2,352
2,393
2,441
2,482
HINDALCO
169
172
175
179
182
HINDUNILVR
1,688
1,715
1,734
1,761
1,780
IBULHSGFIN
443
460
474
491
506
ICICIBANK
391
397
402
408
413
IOC
129
131
133
134
136
INDUSINDBK
1,326
1,357
1,381
1,412
1,436
INFY
760
768
777
786
794
ITC
254
257
261
264
268
JSW STEEL
208
213
217
222
226
KOTAKBANK
1,430
1,445
1,470
1,485
1,510
LT
1,309
1,328
1,343
1,361
1,377
M&M
535
540
547
552
559
MARUTI
5,363
5,517
5,606
5,760
5,849
NTPC
119
120
122
123
125
ONGC
129
130
131
133
134
POWERGRID
190
195
203
208
216
RELIANCE
1,107
1,125
1,146
1,164
1,185
SBIN
287
294
298
305
309
SUNPHARMA
405
411
417
424
430
TCS
2,176
2,212
2,232
2,269
2,289
TATAMOTORS
119
121
125
127
131
TATASTEEL
383
391
398
406
412
TECHM
616
632
641
658
667
TITAN
1,008
1,022
1,041
1,055
1,074
ULTRACEMCO
4,118
4,182
4,249
4,313
4,381
UPL
515
528
548
561
582
VEDANTA
131
136
139
144
148
WIPRO
257
260
263
265
268
YESBANK
74
78
83
86
91
ZEEL
316
324
333
340
349
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Technical & Derivatives Report
August 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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