Technical & Derivatives Report
January 07, 2019
Sensex (35695) / Nifty (10727)
Exhibit 1: Nifty Daily Chart
The inaugural week of 2019 started well as we were at a kissing
distance from surpassing key hurdles. However, global turmoil
once again spooked market participants and hence, we had a
couple of terrible days of trade in the midst of the week.
Fortunately, some respite was seen globally on Friday and hence,
we eventually ended by reclaiming the 10700 mark.
Friday’s price move was crucial according to us as we were
trading precisely at the threshold of two key technical indicators.
First, the 61.8% retracement of the recent up move and then most
importantly the ‘Rising Trend Line’ support around 10650 -
10610 levels. Although index breached these levels on intraday
basis, the closing is well above it in the relatively safe zone. Also,
with such kind of intraday volatility, we can now see a formation
of ‘Bullish Hammer’ pattern around the important support zone.
Hence, going ahead, a sustainable move beyond 10750 would
lead to extended rally towards 10850 - 10920 levels. If things go
as per the expectations, we would then be able to see a breakout
from recent key hurdles and in this scenario, the much-awaited
move 11000 cannot be ruled out.
Hence, going ahead, as long as 10600 is not broken one should
remain on the positive side and better to place positional bets if
things pan out as per above scenario. By doing this, one must
keep an eye on global developments also. Even if we see things
going in tandem, its better to keep a regular tab on positions and
should follow proper exit strategy. On the sectoral front, midcap
private banking space looks encouraging along with the entire
midcap universe.
Key Levels
Support 1 - 10650
Resistance 1 -
10750
Support 2 - 10610
Resistance 2 -
10850
Nifty Bank Outlook - (27195)
Exhibit 2: Nifty Bank Daily Chart
In Friday's session, the Nifty Bank index opened marginally
positive and corrected during the first hour to re-test the previous
day's low. However, the index recovered from its low and picked
positive momentum as the day progressed to end with gains of
more than 200 points.
Since last few days, we have been highlighting about the 'Rising
Wedge' pattern on the daily chart of the Nifty Bank index. The
index has precisely reverted higher from the support end of the
pattern which is placed around 26900. This also coincides with
the '20 DEMA' and hence, becomes an important support for the
near term. Traders are advised to keep a tab on the mentioned
level and trade with a strict stop loss below the same. Stocks
within the PSU Banking space have been outperforming and
hence, traders could look out for opportunities within this space.
Key Levels
Support 1 - 26900
Resistance 1 -
27227
Support 2 - 26775
Resistance 2 -
27386
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Technical & Derivatives Report
January 07, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.04%.
Bank Nifty futures open interest has increased by 13.55%
as market closed at 10727.35 levels.
The Nifty January future closed with a premium of 50.25
points against a premium of 45.75 points in last trading
session. The February series closed at a premium of
84.00 points.
The INDIA VIX has decreased from 16.79 to 16.16.
At the same time, the PCR-OI of Nifty remains
unchanged at 1.34.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, IFCI, GMRINFRA, SUZLON
and TATASTEEL.
Views
OI Gainers
Regardless of the pain seen in the global bourses, our
OI
PRICE
SCRIP
OI
PRICE
market managed to open on a cheerful note. In the early
CHG. (%)
CHG. (%)
hour of trade, the index lacked momentum and corrected
MINDTREE
2903400
29.56
815.00
-2.07
below 10650. But, a sharp recovery in the midst brought
PETRONET
12300000
9.60
220.90
-3.33
index back above 10700. Nifty did show some hiccups
CANBK
11862000
9.21
282.95
2.45
in the latter half but this was again bought into to
INDUSINDBK
6946800
7.99
1548.20
-0.75
conclude the session tad above 10700 mark.
SHREECEM
80050
6.88
16737.10
-0.96
In F&O space, we saw addition of fresh long positions in
TATACHEM
2541750
6.67
698.45
0.80
both Nifty as well as BankNifty. As far as Nifty options
IDBI
31860000
6.59
61.45
0.57
activities are considered, put writers continued adding
JUBLFOOD
2948500
6.50
1212.10
-2.14
decent positions in 10600-10700 strikes. On the flip
side, we saw fresh build-up in
10700-10900 call
options. Maximum concentration of open interest is intact
OI Losers
in 11200 call and 10500 put options.
OI
PRICE
SCRIP
OI
PRICE
Since last three consecutive sessions, the premiums for
CHG. (%)
CHG. (%)
Nifty futures have been increasing, indicating buying
JETAIRWAYS
8023400
-9.28
245.20
1.52
interest near the support zone of 10600-10650. Going
CHENNPETRO
1103400
-6.27
288.30
2.92
ahead, we expect extension of today’s rally towards
CONCOR
2202500
-5.98
678.05
1.29
10850-10900. One of the key observations was that the
SIEMENS
1791900
-5.29
1062.70
1.92
banking index corrected recently only because of profit-
IGL
4977500
-4.54
278.05
1.40
booking. Now, we are seeing good amount of long
REPCOHOME
1346400
-4.45
394.55
-0.16
addition. The PSU banking index out-performed by
INFRATEL
8526000
-4.31
285.05
4.97
rallying 2.32% on Friday. The entire sector looks good;
NATIONALUM
23928000
-4.29
63.85
2.98
thus, we would advise traders to keep them on their
buying radar.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
INFRATEL
35.60
NIFTY
1.34
0.72
KTKBANK
35.51
BANKNIFTY
1.12
0.87
PETRONET
31.15
RELIANCE
0.57
0.55
IDFCBANK
45.12
ICICIBANK
0.67
0.62
NESTLEIND
31.28
INFY
0.82
0.62
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Technical & Derivatives Report
January 07, 2019
FII Statistics for January 04, 2019
Turnover on January 04, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2873.56
3224.64
(351.07)
369250
29036.64
3.15
372025
24924.62
22.83
FUTURES
FUTURES
INDEX
INDEX
87925.33
88587.35
(662.02)
645047
48356.81
5.93
9708012
581455.98
-67.53
OPTIONS
OPTIONS
STOCK
12590.23
12444.93
145.29
1330999
80762.53
0.94
STOCK
FUTURES
795349
46671.42
12.47
FUTURES
STOCK
STOCK
6116.74
5985.24
131.50
108010
6160.94
15.83
565207
33983.86
14.92
OPTIONS
OPTIONS
Total
109505.86
110242.16
(736.30)
2453306
164316.91
3.13
TOTAL
74455
700968
-63.49
Nifty Spot = 10727.35
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10700
220.50
Buy
10700
144.00
57.40
42.60
10757.40
34.15
65.85
10665.85
Sell
10800
163.10
Sell
10600
109.85
Buy
10700
220.50
Buy
10700
144.00
105.60
94.40
10805.60
61.20
138.80
10638.80
Sell
10900
114.90
Sell
10500
82.80
Buy
10800
163.10
Buy
10600
109.85
48.20
51.80
10848.20
27.05
72.95
10572.95
Sell
10900
114.90
Sell
10500
82.80
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 07, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
373
377
381
385
389
ASIANPAINT
1,370
1,378
1,390
1,398
1,410
AXISBANK
603
611
618
626
633
BAJAJ-AUTO
2,686
2,710
2,726
2,750
2,766
BAJFINANCE
2,536
2,556
2,584
2,604
2,632
BAJAJFINSV
6,306
6,358
6,409
6,461
6,512
BPCL
347
353
358
364
368
BHARTIARTL
308
315
320
327
332
INFRATEL
265
275
282
292
298
CIPLA
505
509
512
516
519
COALINDIA
232
234
236
238
240
DRREDDY
2,545
2,573
2,589
2,617
2,633
EICHERMOT
19,604
19,854
20,251
20,501
20,898
GAIL
345
349
352
356
358
GRASIM
786
796
803
814
821
HCLTECH
910
921
936
947
962
HDFCBANK
2,101
2,109
2,119
2,127
2,137
HDFC
1,930
1,951
1,964
1,985
1,998
HEROMOTOCO
2,929
2,958
3,002
3,031
3,075
HINDALCO
205
208
210
213
215
HINDPETRO
244
246
249
251
254
HINDUNILVR
1,755
1,769
1,785
1,798
1,815
IBULHSGFIN
803
816
828
841
852
ICICIBANK
353
359
364
370
375
IOC
131
133
134
135
136
INDUSINDBK
1,522
1,535
1,553
1,566
1,584
INFY
639
650
662
673
685
ITC
277
279
281
283
285
JSW STEEL
277
283
286
291
295
KOTAKBANK
1,221
1,235
1,243
1,257
1,265
LT
1,356
1,372
1,390
1,406
1,424
M&M
706
716
722
732
738
MARUTI
7,087
7,161
7,235
7,309
7,383
NTPC
141
143
145
147
149
ONGC
141
143
145
147
149
POWERGRID
189
193
195
198
200
RELIANCE
1,071
1,085
1,095
1,108
1,118
SBIN
289
293
296
301
304
SUNPHARMA
428
431
435
438
443
TCS
1,813
1,845
1,873
1,905
1,933
TATAMOTORS
167
169
170
172
174
TATASTEEL
473
481
487
494
500
TECHM
659
670
684
695
708
TITAN
910
919
929
938
948
ULTRACEMCO
3,824
3,869
3,899
3,944
3,974
UPL
737
747
753
763
769
VEDANTA
184
188
191
196
199
WIPRO
316
320
324
328
331
YESBANK
178
184
187
193
196
ZEEL
450
457
463
470
476
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Technical & Derivatives Report
January 07, 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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