Technical & Derivatives Report
June 07, 2019
Sensex (39530) / Nifty (11844)
Exhibit 1: Nifty Hourly Chart
Post the mid-week holiday, the benchmark indices opened on a
flat note yesterday. However, with the open high same scenario,
Nifty started correcting right from the word go. Market
participants were eying the outcome of the monetary policy by RBI
which was in line with the expectations of the majority. But,
without any meaningful pullback move, the index crept lower
throughout the day and ended with a cut of about one and a half
percent.
In last couple of sessions, the Nifty indicated some signs of
strength above the 12000 mark. However, once again the index
has been unable to sustain above the same and has corrected
post registering high around 12100. If we look at the lower time
frame (hourly) chart, the index has broken below the support of a
‘Rising Wedge’ pattern which was placed around 11950. The
All the sectoral indices ended in red yesterday wherein the
mentioned pattern indicates probability of a correction in near
Banking and Financial Services space underperformed the most.
future as a result of which, we witnessed a sharp sell-off in later
For near term, traders are advised to stay light on positions and
half yesterday. Accordingly, the Nifty could continue this
wait for the index to test the above mentioned supports.
corrective phase in next few sessions towards the supports of
11770 followed by 11660. On the flipside, the earlier support of
11950-12000 zone could now act as resistance on any pullback
Key Levels
moves.
Support 1 - 11770
Resistance 1 -
11950
Support 2 - 11660
Resistance 2 -
12000
Nifty Bank Outlook - (30857)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened on a flat note yesterday and
corrected in the first hour of the trade along with the broader
markets. The RBI announced the outcome of the monetary policy
meet before noon which was in line with most of the
market participant’s expectation. However, the Bank Nifty did
not see any significant recovery and it corrected throughout
the session to end with a loss of more than 700 points. The
banking space was the underperformer yesterday and had
corrected the most amongst all the sectoral indices. The PSU
Banks too witnessed sell off and we expect Bank Nifty to test its
support of 30150-30200 soon. Hence, traders are advised to
avoid any bottom fishing here and wait for the index to test this
support range. On any pullback move, the index is likely to face
resistance around 31030 and 31300
Key Levels
Support 1 - 30200
Resistance 1 -
31030
Support 2 - 30150
Resistance 2 -
31300
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Technical & Derivatives Report
June 07, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.31%.
Bank Nifty futures open interest has decreased by 0.37%
as market closed at 11843.75 levels.
The Nifty June future closed with a premium of 40.30
points against a premium of 34.50 points in last trading
session. The July series closed at a premium of 77.10
points.
The INDIA VIX has decreased from 15.62 to 15.52.
At the same time, the PCR-OI of Nifty has decreased
from 1.54 to 1.05.
Few of the liquid counters where we have seen high cost
of carry are IFCI, SOUTHBANK, SUZLON, ADANIENT
and IDEA.
Views
Post mid-week holiday, we started off the day on a
slightly positive note despite unfavorable global cues. As
OI Gainers
the day began, we saw index correcting below 12000
OI
PRICE
SCRIP
OI
PRICE
and then halted ahead RBI policy outcome. The selling
CHG. (%)
CHG. (%)
pressure accelerated as Monetary Policy Commit cuts the
GAIL
16172688
58.91
316.30
-11.74
repo rate by 25 bps to 5.75 percent. Eventually, the
DHFL
25323500
20.33
93.95
-22.19
benchmark index concluded the session near the lowest
RELCAPITAL
14017500
17.99
111.85
-13.08
point tad below 11850.
SYNDIBANK
22185000
17.19
34.05
-10.08
FII’s were net sellers in the equity segment to the tune of
BANKBARODA
64924000
15.43
124.35
-6.57
Rs.1449 crores. In index futures front, they were sellers of
WIPRO
48729600
15.07
291.50
-0.09
Rs. 1473 crores with rise in open interest, indicating short
ESCORTS
6002700
12.59
577.95
-4.57
formation.
L&TFH
29115000
12.48
126.60
-7.31
Despite gigantic sell-off in the broader market, we could
hardly see any meaningful shorting especially in
BankNifty. However, some build-up was seen in Nifty
OI Losers
Futures. It is the second consecutive session, wherein we
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
saw writing in ATM and slightly OTM call options
CESC
1178450
-10.80
761.75
-2.11
(ie: 11900-12300 strikes). On the flip side, fresh build-
IDBI
27214000
-10.05
37.30
-6.76
up was seen in 11400-11900 puts of the coming weekly
CGPOWER
11868000
-9.68
34.30
-4.49
series. Surprisingly, regardless of today’s fall the fear
BEML
1224300
-9.57
960.65
-3.41
index was merely down 0.64%. Considering the above
UJJIVAN
3195200
-9.23
356.50
-2.51
data points, we would advise traders to wait for the
INDIANB
4068000
-8.42
266.90
-3.17
follow-up moves before initiating any aggressive bets in
CANFINHOME
3119400
-8.40
353.60
-3.30
the market. Going ahead, 11750-11770 shall act as
immediate support zone; whereas, 12000-12040 is a
VGUARD
2271000
-8.35
238.25
-1.77
hurdle now.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
GAIL
66.27
NIFTY
1.05
0.85
DHFL
152.72
BANKNIFTY
0.45
0.78
SRTRANSFIN
59.46
RELIANCE
0.48
0.64
SYNDIBANK
76.34
ICICIBANK
0.48
0.63
ALBK
77.02
INFY
1.04
0.49
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Technical & Derivatives Report
June 07, 2019
FII Statistics for June 06, 2019
Turnover on June 06, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4026.31
5499.57
(1473.26)
255609
21166.51
6.70
373970
28112.69
54.94
FUTURES
FUTURES
INDEX
INDEX
380490.89
375499.83
4991.06
624312
52575.67
0.47
34110290
2353936.37
175.50
OPTIONS
OPTIONS
STOCK
16081.25
16292.21
(210.97)
1437541
86608.68
(0.11)
STOCK
FUTURES
909342
52953.46
20.69
FUTURES
STOCK
STOCK
5605.05
5634.65
(29.61)
65720
3991.67
5.77
647943
39904.44
24.33
OPTIONS
OPTIONS
Total
406203.50
402926.27
3277.23
2383182
164342.54
0.89
TOTAL
732838
2568108
160.92
Nifty Spot = 11843.75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11800
203.95
Buy
11800
124.10
59.00
41.00
11859.00
32.05
67.95
11767.95
Sell
11900
144.95
Sell
11700
92.05
Buy
11800
203.95
Buy
11800
124.10
105.60
94.40
11905.60
55.20
144.80
11744.80
Sell
12000
98.35
Sell
11600
68.90
Buy
11900
144.95
Buy
11700
92.05
46.60
53.40
11946.60
23.15
76.85
11676.85
Sell
12000
98.35
Sell
11600
68.90
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
June 07, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
417
422
426
430
434
ASIANPAINT
1,401
1,415
1,438
1,452
1,475
AXISBANK
793
800
813
821
833
BAJAJ-AUTO
2,925
2,958
2,993
3,026
3,061
BAJFINANCE
3,390
3,421
3,477
3,509
3,565
BAJAJFINSV
7,936
8,031
8,197
8,291
8,457
BPCL
384
390
402
409
421
BHARTIARTL
345
350
353
357
360
INFRATEL
266
270
273
277
280
BRITANNIA
2,824
2,863
2,920
2,959
3,017
CIPLA
550
555
562
567
573
COALINDIA
260
265
268
273
276
DRREDDY
2,605
2,631
2,670
2,697
2,736
EICHERMOT
19,729
19,907
20,133
20,311
20,537
GAIL
299
307
323
332
347
GRASIM
833
851
871
889
908
HCLTECH
1,060
1,069
1,085
1,095
1,111
HDFCBANK
2,379
2,401
2,436
2,458
2,492
HDFC
2,136
2,160
2,195
2,219
2,255
HEROMOTOCO
2,687
2,738
2,767
2,818
2,847
HINDALCO
191
193
196
198
200
HINDUNILVR
1,795
1,817
1,833
1,854
1,871
IBULHSGFIN
701
718
746
764
792
ICICIBANK
406
409
413
416
421
IOC
158
161
165
168
172
INDUSINDBK
1,431
1,477
1,556
1,602
1,680
INFY
727
731
738
742
749
ITC
272
274
277
279
282
JSW STEEL
259
263
269
273
279
KOTAKBANK
1,479
1,497
1,519
1,536
1,559
LT
1,473
1,494
1,533
1,555
1,593
M&M
616
625
640
649
664
MARUTI
6,834
6,911
7,005
7,082
7,176
NTPC
131
134
135
138
140
ONGC
167
168
170
171
173
POWERGRID
192
194
196
198
200
RELIANCE
1,296
1,312
1,337
1,352
1,378
SBIN
327
332
341
346
355
SUNPHARMA
396
400
407
411
418
TCS
2,125
2,146
2,172
2,193
2,219
TATAMOTORS
164
167
171
174
178
TATASTEEL
471
478
490
497
510
TECHM
725
732
740
747
756
TITAN
1,234
1,252
1,263
1,281
1,292
ULTRACEMCO
4,437
4,504
4,601
4,669
4,766
UPL
988
1,000
1,009
1,021
1,030
VEDANTA
158
160
163
166
169
WIPRO
289
290
292
294
296
YESBANK
137
140
146
149
155
ZEEL
328
334
340
347
353
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Technical & Derivatives Report
June 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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