Technical & Derivatives Report
February 07, 2019
Sensex (36975) / Nifty (11062)
Exhibit 1: Nifty Daily Chart
Finally, a bright sunshine is seen in our markets after undergoing
a challenging period in last month and a half. We started
proceedings with a decent upside gap on the back of favorable
global cues. During the first half, index consolidated with a
positive bias; but, there was massive destruction being witnessed
in the broader market. Fortunately for us, index picked up a
strong momentum post the midsession and there was massive
short covering rally seen across the board. In the process, Nifty
went on to close at 5-month high by clocking more than a
percent gains.
Our benchmark has been on a roll since last four days; but till
first half yesterday, broader market looked dejected. As expected,
after index surpassing and maintaining above the sturdy wall of
11000, lot of beaten down stocks started rebounding sharply.
Since last few days, we have been mentioning the possibility of
Further, we would like to highlight one notable observation;
Nifty surpassing 11000 and its reality now. As far as levels are
few ‘Pharmaceutical’ stocks yesterday soared to a great extent
concerned, a fresh leg of the rally is unfolded and we expect Nifty
and others managed to give a smart recovery after recent
to immediately hasten towards 11200. In fact, in our sense, we
relentless underperformance. Hence, traders holding short
will not be surprised to see index extending this move towards
positions should now look to cover up as we may see a sharp
11400 in next few days. Hence, one should trade with a positive
bounce back in this extremely oversold pocket.
bias and use any dip towards 11000 - 10960 as a buying
opportunity.
Yesterday, banking index seemed quiet ahead of the RBI
Key Levels
monetary policy. However, with lot of hopes built in this time for a
Support 1 - 11000
Resistance 1 -
11140
rate cut from the new governor, this may provide impetus to a
Support 2 - 10960
Resistance 2 -
11200
rate sensitive universe. Apart from this, ‘Auto’ and ‘Metal’ sectors
are on a roll since few days and are clearly on the revival path.
Nifty Bank Outlook - (27402)
Exhibit 2: Nifty Bank Daily Chart
Inspite of the positive move seen in the Nifty index, the banking
space continued to consolidate in a range and hence, the Nifty
Bank index underperformed the Nifty yesterday and ended with
gains of half a percent versus Nifty gains of over one percent.
Although the banking space did not participate in the rally
yesterday, the index has formed a support base around 26825
and has shown a decent up move in last three days. The market
participants may be awaiting the outcome of RBI's monetary
policy which will be announced today and it could be a trigger
which would lead the momentum in the Nifty Bank index too. The
resistance zone in the recent consolidation is in the range of
27535-27625. A breakout above this range should then lead to a
trended up move. On the flipside, 27170 and 26825 are the
near term supports.
Key Levels
Support 1 - 27170
Resistance 1 -
27535
Support 2 - 26825
Resistance 2 -
27625
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Technical & Derivatives Report
February 07, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 12.20%.
Bank Nifty futures open interest has increased by 10.14%
as market closed at 11062.45 levels.
The Nifty February future closed with a premium of
27.85 points against a premium of 17.35 points in last
trading session. The March series closed at a premium of
60.50 points.
The INDIA VIX has decreased from 15.78 to 15.63.
At the same time, the PCR-OI of Nifty has increased from
1.68 to 1.82.
Few of the liquid counters where we have seen high cost
of carry are RELCAPITAL, JPASSOCIAT, DISHTV,
CADILAHC and CANFINHOME.
Views
The day kick started with an upside gap as indicated by
the SGX Nifty. The strong buying pick up the pace in the
OI Gainers
early morning trade to surpass the key psychological
OI
PRICE
SCRIP
OI
PRICE
hurdle of 11000 mark. The momentum accelerated as
CHG. (%)
CHG. (%)
CIPLA
10081000
34.70
534.95
4.46
the day progressed to conclude the session at the highest
CESC
1167100
26.76
729.20
6.02
point in last five months.
FIIs were net buyers in cash market segment to the tune
TECHM
15662400
18.99
811.35
7.77
of Rs. 695 crores. In index futures segment, they bought
SRF
999500
18.64
2223.25
9.55
significantly of Rs. 2818 crores with some rise in open
MUTHOOTFIN
1567500
17.81
484.95
-3.51
interest, indicating good amount of long addition in
DISHTV
63048000
14.60
27.40
19.44
yesterday’s session.
RELINFRA
12542400
11.85
154.30
-32.07
As far as Nifty options activities are concerned,
GODFRYPHLP
497700
10.75
968.00
3.41
we saw massive writing in 10700-10900 put options and
now these writers have also started adding huge
positions in 11000 strike. On the other side, call writers
OI Losers
of 11100 and 11200 strikes looked intimidated and
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
hence covered their positions. Maximum open interest
RELCAPITAL
9946500
-13.99
144.10
-4.83
concentration is now seen in 11000 call and 10700 put
SREINFRA
11232000
-12.11
22.10
-0.45
options.
BEML
1479100
-10.12
758.50
0.09
In F&O space, the benchmark index (Nifty) has added
RAMCOCEM
521600
-9.70
605.30
1.54
good amount of long position for the fifth consecutive
BANKINDIA
22122000
-9.52
91.90
1.32
session. In the recent up move, stronger hands have
MGL
822000
-9.09
966.05
0.20
been net buyers in equities as well as index futures
DHFL
21675000
-7.71
119.35
-1.90
segment. Considering the above data point, we
JUBLFOOD
2890500
-7.44
1293.85
-0.69
maintain our optimistic stance on market and expect
continuation of this rally towards 11300-11400.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
RELINFRA
200.03
NIFTY
1.82
1.07
TATACHEM
46.20
BANKNIFTY
1.10
0.91
SRF
55.42
RELIANCE
1.10
0.59
TECHM
45.41
ICICIBANK
0.79
0.48
CESC
37.25
INFY
1.06
0.51
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Technical & Derivatives Report
February 07, 2019
FII Statistics for February 06, 2019
Turnover on February 06, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4820.87
2002.89
2817.98
341212
27450.84
11.49
243437
17583.55
37.33
FUTURES
FUTURES
INDEX
INDEX
76070.34
75807.41
262.93
799831
60938.07
3.17
8992276
536992.96
17.44
OPTIONS
OPTIONS
STOCK
12264.85
11399.02
865.83
1465880
88290.85
0.27
STOCK
FUTURES
878875
48095.96
3.12
FUTURES
STOCK
STOCK
7522.42
7440.24
82.18
108116
6463.83
10.57
816980
47487.63
13.92
OPTIONS
OPTIONS
Total
100678.48
96649.56
4028.92
2715039
183143.59
2.80
TOTAL
74455
700968
16.44
Nifty Spot = 11062.45
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11100
140.75
Buy
11100
155.00
48.95
51.05
11148.95
37.10
62.90
11062.90
Sell
11200
91.80
Sell
11000
117.90
Buy
11100
140.75
Buy
11100
155.00
85.65
114.35
11185.65
68.00
132.00
11032.00
Sell
11300
55.10
Sell
10900
87.00
Buy
11200
91.80
Buy
11000
117.90
36.70
63.30
11236.70
30.90
69.10
10969.10
Sell
11300
55.10
Sell
10900
87.00
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
February 07, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
307
319
330
342
353
ASIANPAINT
1,442
1,456
1,466
1,480
1,490
AXISBANK
706
716
725
735
744
BAJAJ-AUTO
2,686
2,728
2,756
2,799
2,827
BAJFINANCE
2,573
2,642
2,681
2,750
2,789
BAJAJFINSV
5,981
6,095
6,163
6,277
6,345
BPCL
334
337
339
342
344
BHARTIARTL
297
303
307
313
316
INFRATEL
285
291
294
300
304
CIPLA
486
510
529
553
571
COALINDIA
215
217
219
222
223
DRREDDY
2,734
2,762
2,789
2,817
2,844
EICHERMOT
20,274
20,689
20,945
21,360
21,615
GAIL
326
333
337
344
348
GRASIM
691
712
726
747
761
HCLTECH
1,035
1,045
1,055
1,065
1,075
HDFCBANK
2,108
2,115
2,121
2,129
2,134
HDFC
1,967
1,977
1,986
1,997
2,006
HEROMOTOCO
2,832
2,856
2,874
2,898
2,916
HINDALCO
199
205
209
215
218
HINDPETRO
223
229
232
237
240
HINDUNILVR
1,812
1,821
1,829
1,838
1,845
IBULHSGFIN
625
639
651
665
676
ICICIBANK
349
354
358
363
367
IOC
132
135
137
140
141
INDUSINDBK
1,489
1,507
1,526
1,544
1,562
INFY
749
756
762
769
774
ITC
273
275
277
279
281
JSW STEEL
267
273
278
284
289
KOTAKBANK
1,269
1,274
1,282
1,287
1,294
LT
1,281
1,298
1,310
1,327
1,339
M&M
676
685
692
702
708
MARUTI
7,004
7,094
7,157
7,247
7,310
NTPC
134
135
137
138
139
ONGC
140
144
146
149
151
POWERGRID
183
185
187
189
191
RELIANCE
1,284
1,297
1,307
1,321
1,331
SBIN
281
285
287
291
294
SUNPHARMA
397
407
413
423
429
TCS
2,022
2,048
2,068
2,094
2,113
TATAMOTORS
169
174
177
181
184
TATASTEEL
456
470
479
493
501
TECHM
759
785
800
826
840
TITAN
1,039
1,049
1,061
1,071
1,082
ULTRACEMCO
3,402
3,456
3,495
3,550
3,589
UPL
790
798
804
811
818
VEDANTA
155
159
162
167
169
WIPRO
366
369
372
375
378
YESBANK
170
173
176
179
182
ZEEL
353
371
384
402
415
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Technical & Derivatives Report
February 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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