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Technical & Derivatives Report
December 06, 2019
Sensex (
40780
) / Nifty
2018
)
On Wednesday, we had a strong last hour surge in our market,
which probably was the reflection of hopes built for yet another
rate cut by RBI. In line with this, the market was trading with a
positive bias ahead of the monetary policy; but ‘Status Quo’ from
RBI clearly disappointed market participants and as a result, the
Nifty gave up all gains and slipped into a negative territory. The
most sensitive index, Bank Nifty tumbled from morning highs and
remained under pressure thereafter. Eventually, the day ended
with some cuts on benchmark indices as well as the broader
market.
Yesterday’s intraday correction was quite evident after such
unexpected outcome, but fortunately the impact was not as severe
as it’s generally seen after a disappointment. That’s a sign of a
strong uptrend and going ahead, we continue to remain upbeat
on the market as long as the sacrosanct support zone of 11930 –
11883 remains intact. On the upside, 12080 12120 are the
immediate levels to watch out for. Traders are advised to be with
the larger trend and should ideally refrain from taking
contradictory bets against the major direction on a positional
basis.
Key Levels
Support 1 – 11930 Resistance 1 – 12080
Support 2 – 11883 Resistance 2 – 12120
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
31713
)
Yesterday, Bank Nifty Index started with a gap up opening
however it lacked follow up move and traded in a range before
the RBI policy announcement. Post the announcement the bank
index witnessed a sharp fall which was followed by intraday
recovery. Subsequently, the bank index again witnessed sell-off in
the last hour and ended with a loss of 0.83% at 31713.
Since the last few sessions, the Bank Nifty Index is trading in a
range above the previous swing high around 31600 levels.
Technically, there are no signs of weakness and the bias remains
positive. Traders are advised to focus on individual counters from
the banking space which are providing better trading
opportunities. As far as levels are concerned, immediate support
is placed around 31600-31444 whereas resistance is placed
around 32000-32160 levels.
Key Levels
Support 1 – 31600 Resistance 1 – 32000
Support 2 – 31444 Resistance 2 – 32160
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
December 06, 2019
Nifty Vs OI
Views
We witnessed a follow up buying in yesterday’s session
to rally towards 12100. However, post monetary policy
announcement traders preferred booking profits and
hence, the index lost all the early morning gains.
Eventually, index remained under pressure till the end
and concluded the day with a cut of 25 points.
FIIs were net buyers in the cash market segment to the
tune of Rs. 653 crores. In index futures, they sold worth
Rs. 665 crores with fall in open interest, indicating long
unwinding took place in the last trading session.
Since the beginning of December series, any correction
in the market was mainly due to profit booking and no
shorts were formed. Yesterday’s correction was again
due to profit booking. For the coming weekly series,
12000 put options added good amount of positions
indicating strong base around 11950-12000. We
believe good amount of longs rolled over from the
December series are still intact in the system.
Considering the above data points, we continue to
remain upbeat on the market and would advise traders
to use intraday declines to add fresh longs.
Comments
The Nifty futures open interest has decreased by 3.46%
Bank Nifty futures open interest has decreased 4.34% as
market closed at 12018.40 levels.
The Nifty December future closed with a premium of
29.30 points against a premium of 46.60 points in last
trading session. The January series closed at a premium
of 71.85 points.
The INDIA VIX has increased from 13.32 to 14.30.
At the same time, the PCR-OI of Nifty has decreased
from 1.44 to 1.35.
Few of the liquid counters where we have seen high cost
of carry are DISHTV, GMRINFRA, HEXAWARE, MFSL and
BOSCHLTD.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HCLTECH 24211600 97.18 560.90 -0.16
TATAELXSI 1270200 33.90 862.40 6.73
EQUITAS 18149800 24.79 111.85 5.64
IGL 6470750 19.08 402.90 -2.83
INDIGO 3266100 13.58 1321.20 -6.08
GODREJCP 4572800 11.14 671.80 -3.47
BALKRISIND 1947200 10.59 943.60 1.59
DISHTV 111085700 9.80 14.75 3.85
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NMDC 17256000 -7.26 109.65 -3.25
TORNTPOWER 4407000 -7.20 278.10 0.60
ZEEL 29948900 -6.85 300.05 6.10
CANBK 10540800 -6.38 217.60 -3.09
MUTHOOTFIN 4168500 -6.24 695.15 3.38
VOLTAS 3083000 -5.75 696.45 0.04
APOLLOHOSP 1412000 -5.71 1483.30 0.59
CESC 1243200 -5.47 739.40 -0.12
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.35 0.96
BANKNIFTY 0.78 0.78
RELIANCE 0.71 0.65
ICICIBANK 0.82 0.81
INFY 0.47 0.41
Historical Volatility
SCRIP HV
TATAELXSI 45.13
INDIGO 55.30
JINDALSTEL 86.89
GODREJCP 34.18
OIL 31.79
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Technical & Derivatives Report
December 06, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot
=
120
18.40
Lot Size = 75
FII Statistics for
December
05
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3108.65 3773.58 (664.93) 150719 12803.05 (1.90)
INDEX
OPTIONS
524452.99 523450.68 1002.31
495290 42029.66 (9.82)
STOCK
FUTURES
11112.56 11385.18 (272.62) 1588317 95156.41 0.00
STOCK
OPTIONS
3834.87 3854.93 (20.06) 52881 2988.97 5.24
Total 542509.07
542464.37
44.70
2287207
152978.09
(2.32)
Turnover on
December
05
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
332558 24541.79 -4.54
INDEX
OPTIONS
43227898 2992732.76 76.75
STOCK
FUTURES
704456 42009.18 -10.94
STOCK
OPTIONS
610870 38662.94 -10.08
TOTAL 4,48,75,782
3097946.67 71.25
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12000 163.60
55.30 44.70 12055.30
Sell 12100 108.30
Buy 12000 163.60
97.10 102.90 12097.10
Sell 12200 66.50
Buy 12100 108.30
41.80 58.20 12141.80
Sell 12200 66.50
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12000 117.20
36.35 63.65 11963.65
Sell 11900 80.85
Buy 12000 117.20
59.95 140.05 11940.05
Sell 11800 57.25
Buy 11900 80.85
23.60 76.40 11876.40
Sell 11800 57.25
Nifty Put-Call Analysis
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December 06, 2019
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 361 365
369 373 378
ASIANPAINT 1,689 1,703
1,720 1,734 1,751
AXISBANK 713 721
733 741 753
BAJAJ-AUTO 3,191 3,217
3,252 3,278 3,312
BAJFINANCE 3,932 3,961
3,998 4,027 4,064
BAJAJFINSV 8,882 8,924
8,977 9,019 9,072
BPCL 484 488
494 498 504
BHARTIARTL 434 441
452 459 470
INFRATEL 236 241
249 254 262
BRITANNIA 3,019 3,051
3,073 3,105 3,127
CIPLA 454 458
464 468 474
COALINDIA 191 194
198 201 206
DRREDDY 2,836 2,854
2,867 2,885 2,898
EICHERMOT 21,112 21,265
21,477 21,630 21,842
GAIL 119 120
122 123 125
GRASIM 752 761
775 784 798
HCLTECH 551 556
562 567 572
HDFCBANK 1,230 1,238
1,248 1,256 1,266
HDFC 2,287 2,307
2,320 2,341 2,354
HEROMOTOCO 2,337 2,367
2,421 2,451 2,505
HINDALCO 195 197
199 201 203
HINDUNILVR 2,017 2,027
2,038 2,048 2,058
ICICIBANK 519 524
531 535 542
IOC 124 125
127 128 130
INDUSINDBK 1,480 1,495
1,522 1,537 1,564
INFY 699 707
712 719 724
ITC 241 244
246 249 250
JSW STEEL 243 247
254 259 266
KOTAKBANK 1,630 1,640
1,650 1,659 1,670
LT 1,272 1,287
1,300 1,315 1,328
M&M 517 521
526 530 535
MARUTI 6,908 6,961
7,043 7,095 7,177
NESTLEIND 14,126 14,208
14,302 14,384 14,477
NTPC 113 114
114 115 116
ONGC 127 128
129 130 131
POWERGRID 185 186
188 189 190
RELIANCE 1,522 1,537
1,558 1,572 1,594
SBIN 329 333
339 342 348
SUNPHARMA 429 433
437 441 446
TCS 2,047 2,084
2,105 2,143 2,164
TATAMOTORS 161 163
168 170 175
TATASTEEL 388 394
403 409 418
TECHM 747 756
761 770 776
TITAN 1,158 1,171
1,188 1,201 1,218
ULTRACEMCO 4,069 4,115
4,192 4,239 4,316
UPL 560 564
569 574 579
VEDANTA 139 141
143 145 147
WIPRO 239 242
243 245 247
YESBANK 59 61
62 64 65
ZEEL 276 288
295 307 314
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Technical & Derivatives Report
December 06, 2019
*
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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