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Technical & Derivatives Report
November 07
, 2019
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Sensex (
470
) / Nifty
(1
)
The Nifty opened on a flat note yesterday and corrected
towards the support of 11843 in the initial couple of hours.
Traders took this dip towards the support area as a buying
opportunity and as a result, the index then rallied higher for
rest of the session and tested the 12000 mark. The overall
market breadth was in favor of the advances and the index
ended the day tad below 12000.
In last few sessions, the Nifty has seen a consolidation phase
and has traded within a range. In this consolidation, there are
no signs of reversal and hence, we construe it as a pause
within an uptrend. The Nifty index has a support around
11843 and just around this support; the index witnessed good
buying momentum in yesterday’s session. Although the index
did not close above 12000 mark, there’s no cause to worry as
the stock specific action indicates that market is geared for the
resumption of the momentum and we should soon see new
high’s in Nifty. The Banking space showed signs of strength
and we believe that this sector will take the leadership in next
leg of up move. Hence, traders are advised to trade with a
positive bias and watch out this space which could provide
good trading opportunities. The immediate support for Nifty is
placed around 11843 whereas on the higher side, we expect
Nifty to register new all-time high soon.
Key Levels
Support 1 – 11843 Resistance 1 – 12000
Support 2 – 11776 Resistance 2 – 12103
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
30
610
)
Yesterday, Bank Nifty Index witnessed a flat opening and along
with the broader markets witnessed weakness in the initial hours.
Subsequently, Bank Nifty witnessed support around the
psychological level of 30000 which triggered a sharp bounce
back for the rest of the session. The index eventually ended with
gains of 1.29% at 30610. In yesterday's session, Bank Nifty
outperformed and it broke above its trend line resistance which
we have been mentioning since the last few sessions. The bulls
now seem to be back in momentum after its recent pause and we
expect leadership from the banking space. Going ahead the
positive momentum is likely to continue towards 31000-31335 in
the near term. Traders are hence advised to keep positive bias
and use dips to enter longs, Immediate support is placed around
30260-30000.
Key Levels
Support 1 – 30260 Resistance 1 – 31000
Support 2 – 30000 Resistance 2 – 31335
Exhibit 2: Nifty Bank Daily Chart
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Nifty Vs OI
Views
We started off yesterday’s session slightly lower and
saw Nifty once again touching 11850 mark in the
initial hour of trade. As the day progressed, we
witnessed fresh buying intrest to recovery towards
12000 mark. Some profit booking in the final hour of
trade led closing tad above 10950.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1011 cr. In index futures, they bought worth
Rs. 296 crores with good amount of rise in open
interest, indicating long formation in the previous
trading session.
We saw good amount of build-up in both the indices;
especially banking index wherein open interest surged
up 18% and considering yesterday’s price action it
seem long positions we formed. In Nifty options front,
we witnessed fresh writing in 11950 and 12000 put
options. On the other side, decent covering was seen in
11850-12000 call options; indicating further strength.
At present, 11850-11900 is an immediate support
zone and considering yesterday’s development, we
anticipate extension recent rally beyond 12000 mark.
Hence, any intraday dip shall be an opportunity to buy
ATM call options.
Comments
The Nifty futures open interest has increased by 4.46%
Bank Nifty futures open interest has increased 18.30% as
market closed at 11966.05 levels.
The Nifty October future closed with a premium of 42.00
points against a premium of 38.80 points in last trading
session. The November series closed at a premium of
84.80 points.
The INDIA VIX has decreased from 15.91 to 15.77.
At the same time, the PCR-OI of Nifty has increased from
1.34 to 1.44.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GMRINFRA, BHEL, CONCOR and
HEXAWARE.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
VOLTAS 2685000 50.50 673.10 -0.95
TITAN 13203000 32.06 1156.10 -10.02
LUPIN 7613900 20.48 771.50 2.03
COLPAL 2212000 20.24 1547.35 1.65
CHOLAFIN 3960000 16.81 302.25 -3.84
CESC 1103200 16.57 779.70 -3.09
INFRATEL 10452000 15.59 221.15 -0.94
CENTURYTEX 2079000 13.01 399.40 1.29
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TECHM 16944000 -16.09 771.90 -0.50
PFC 30150600 -7.07 111.00 -0.27
CIPLA 14550150 -6.33 480.85 2.41
BANKINDIA 23406000 -6.07 69.95 1.24
BHARTIARTL 31502169 -5.82 371.45 -3.20
BAJAJFINSV 1408875 -5.70 8772.80 -0.91
UBL 2281300 -4.96 1257.45 2.80
HEXAWARE 1723500 -4.88 341.30 0.66
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.44 0.92
BANKNIFTY 1.48 0.86
RELIANCE 0.72 0.71
ICICIBANK 0.78 0.48
INFY 0.57 0.29
Historical Volatility
SCRIP HV
TITAN 59.96
TORNTPOWER 29.99
APOLLOTYRE 50.41
GMRINFRA 57.71
GLENMARK 44.89
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot
=
119
6
6.05
Lot Size = 75
FII St
atistics for
November
0
6
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3441.24 3145.49 295.75
181295 15421.92 6.98
INDEX
OPTIONS
293266.27 292642.99 623.28
693072 57702.31 4.12
STOCK
FUTURES
13614.42 14561.63 (947.21) 1507308 89682.37 0.15
STOCK
OPTIONS
5748.60 5768.42 (19.82) 64736 3770.15 5.51
Total 316070.53
316118.53
(48.00) 2446411
166576.75
1.87
Turnover on
November
0
6
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
381114 27364.05 39.16
INDEX
OPTIONS
20401963 1420225.74 74.19
STOCK
FUTURES
954060 54909.20 13.69
STOCK
OPTIONS
821100 51552.61 19.06
TOTAL 2,25,58,237
1554051.60 67.72
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12000 167.10
50.25 49.75 12050.25
Sell 12100 116.85
Buy 12000 167.10
88.25 111.75 12088.25
Sell 12200 78.85
Buy 12100 116.85
38.00 62.00 12138.00
Sell 12200 78.85
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11900 120.05
29.55 70.45 11870.45
Sell 11800 90.50
Buy 11900 120.05
53.65 146.35 11846.35
Sell 11700 66.40
Buy 11800 90.50
24.10 75.90 11775.90
Sell 11700 66.40
Nifty Put-Call Analysis
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Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 385 388
391 394 397
ASIANPAINT 1,763 1,780
1,798 1,815 1,832
AXISBANK 720 734
742 756 764
BAJAJ-AUTO 3,188 3,218
3,245 3,275 3,302
BAJFINANCE 4,112 4,150
4,215 4,253 4,318
BAJAJFINSV 8,636 8,704
8,790 8,858 8,944
BPCL 513 518
522 527 531
BHARTIARTL 361 366
376 381 391
INFRATEL 213 217
220 225 228
BRITANNIA 3,159 3,193
3,226 3,260 3,292
CIPLA 454 467
478 491 501
COALINDIA 209 211
213 214 217
DRREDDY 2,794 2,829
2,854 2,888 2,914
EICHERMOT 20,747 21,176
21,463 21,892 22,179
GAIL 134 135
137 139 140
GRASIM 751 762
772 784 794
HCLTECH 1,131 1,140
1,150 1,159 1,169
HDFCBANK 1,217 1,237
1,248 1,268 1,279
HDFC 2,138 2,179
2,204 2,245 2,270
HEROMOTOCO 2,616 2,647
2,672 2,703 2,728
HINDALCO 195 198
201 204 207
HINDUNILVR 2,144 2,162
2,173 2,191 2,202
ICICIBANK 457 469
476 488 496
IOC 134 135
136 137 139
INDUSINDBK 1,292 1,317
1,336 1,361 1,379
INFY 679 696
709 725 738
ITC 258 260
262 263 266
JSW STEEL 241 245
248 252 255
KOTAKBANK 1,520 1,545
1,567 1,592 1,614
LT 1,423 1,438
1,453 1,467 1,482
M&M 569 575
582 588 596
MARUTI 7,220 7,266
7,340 7,386 7,460
NESTLEIND 14,454 14,552
14,686 14,784 14,919
NTPC 119 120
121 122 123
ONGC 141 143
146 147 150
POWERGRID 194 194
195 196 197
RELIANCE 1,419 1,427
1,437 1,445 1,455
SBIN 312 315
317 320 322
SUNPHARMA 404 416
434 447 465
TCS 2,161 2,175
2,193 2,207 2,225
TATAMOTORS 168 171
174 177 180
TATASTEEL 394 399
404 409 414
TECHM 758 765
775 781 791
TITAN 1,119 1,138
1,168 1,187 1,217
ULTRACEMCO 4,082 4,109
4,143 4,170 4,204
UPL 597 602
608 613 620
VEDANTA 154 156
159 161 163
WIPRO 254 255
257 259 261
YESBANK 66 67
69 71 73
ZEEL 270 278
291 299 312
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November 07
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*
Research Team Tel: 022
-
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Website:
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