Technical & Derivatives Report
February 08, 2019
Sensex (36971) / Nifty (11069)
Exhibit 1: Nifty Daily Chart
We had a flat start yesterday despite SGX Nifty indicating a
weakness. Index then consolidated in a slender range ahead of
the policy with lot of stock specific moves. Post the budget day,
majority of participants was expecting ‘no rate cut’ and change in
stance. However, new governor came out with a surprise by
granting 25bps cut in Repo rate and changed the stance to
neutral which was very much on expected lines. Despite this, we
did not see any notable reaction from the market; in fact, markets
remained subdued with a hint of profit booking towards the fag
end.
Eventually, the much awaited RBI monetary policy turned out to
be a non-event. So going ahead, we would be back to our
routines and index would probably start taking cues from the
global bourses. Since, we are already above 11000; we remain
upbeat and expect the index to head towards 11200 - 11250 in
next few days. Hence, any decline up to 11000 - 10970 should
The way some of the stocks started rebounding sharply, it
now be construed as a buying opportunity. Yesterday, banking
certainly bodes well for the momentum traders and also to
counters saw some profit booking; but, the structure remains
improve the market breadth.
positive and hence, we expect buying to re-emerge in this space
soon.
Key Levels
Last few days’ movers ‘Auto’ and ‘Metal’ continues to outshine
Support 1 - 11000
Resistance 1 -
11200
and it appears as if they are finally out of the slumber. Also, what
Support 2 - 10970
Resistance 2 -
11250
encourages us is the participation of broader market since last
couple of days.
Nifty Bank Outlook - (27387)
Exhibit 2: Nifty Bank Daily Chart
Post opening on a flat note, all eyes were on the outcome of the
RBI monetary policy which was announced yesterday. The
Committee decided to cut the repo rate by 25 bps and changed
their stance to 'Neutral'. The Nifty Bank index did show some
positive reaction on the announcement, but was unable to
breakout above the resistance of 27625 which we have been
mentioning about since last couple of days. The index gave up
the gains and ended the day on a flat note.
Inspite of the breakout in the Nifty index seen on Wednesday, the
banking space has not participated in the up move in last couple
of sessions and hence, the Nifty Bank index is yet to give a
breakout from its resistance. As highlighted earlier, the index has
resistance in the range of 27535-27625 and banking space is
expected to resume uptrend only post a breakout above the
same. Traders are advised to trade in the index only above
27625 and till then, focussing on stock specific approach could
be a better strategy. The near term supports for the Nifty Bank
index are placed around 27200 and 26980.
Key Levels
Support 1 - 27200
Resistance 1 -
27535
Support 2 - 26980
Resistance 2 -
27625
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Technical & Derivatives Report
February 08, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.78%.
Bank Nifty futures open interest has increased by 1.31%
as market closed at 11069.40 levels.
The Nifty February future closed with a premium of
24.40 points against a premium of 27.85 points in last
trading session. The March series closed at a premium of
56.60 points.
The INDIA VIX has decreased from 15.63 to 15.43.
At the same time, the PCR-OI of Nifty has decreased
from 1.82 to 1.78.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, RPOWER, SREINFRA, IFCI and
TV18BRDCST.
Views
OI Gainers
After Wednesday’s strong up move; we began
OI
PRICE
SCRIP
OI
PRICE
yesterday’s session on a flat note. Nifty remained range
CHG. (%)
CHG. (%)
bound in the initial part of the day, however, post RBL
RPOWER
102976000
33.55
10.00
-21.09
rate cut announcement Nifty rallied beyond 11100 mark.
MUTHOOTFIN
2020500
28.90
516.25
7.63
Eventually, we witnessed decent profit booking to
MANAPPURAM
10536000
24.80
104.05
7.49
conclude the day with negligible gains.
RAMCOCEM
648800
24.39
616.85
2.03
FIIs were net buyers in cash market segment to the tune
IGL
3786750
23.50
301.15
0.08
of Rs. 418 crores. In index futures segment, they bought
CADILAHC
9918400
20.81
321.95
1.11
significantly of Rs. 999 crores with some rise in open
UJJIVAN
3987200
17.55
287.20
-3.35
interest, indicating good amount of long addition in
MRF
34970
16.76
59410.55
-0.74
yesterday’s session.
As far as Nifty options activities are concerned,
we saw massive writing in 11000-11200 put options. On
OI Losers
the other side, buildup was scattered between 11000-
OI
PRICE
SCRIP
OI
PRICE
11600 call options. Maximum open interest
CHG. (%)
CHG. (%)
concentration is now seen in 11000 strike of both call
RELINFRA
10718500
-14.54
110.65
-28.49
and put options.
ICICIPRULI
5485500
-9.17
311.90
7.70
In F&O space, the benchmark index (Nifty) has added
RELCAPITAL
9174000
-7.77
116.20
-19.80
good amount of long position since the beginning of
L&TFH
24511500
-7.54
135.50
5.30
February series. In the recent up move, stronger hands
SREINFRA
10536000
-6.20
23.90
8.80
have also been net buyers in equities as well as index
TATAELXSI
1465200
-5.76
922.90
1.56
futures segment. Considering the above data point, we
WOCKPHARMA
3834900
-4.97
419.00
4.52
maintain our optimistic stance on market and expect
CIPLA
9634000
-4.43
532.90
0.32
continuation of this rally towards 11300-11400.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
RAYMOND
51.68
NIFTY
1.78
1.01
RELCAPITAL
148.15
BANKNIFTY
0.97
0.82
MUTHOOTFIN
51.32
RELIANCE
0.98
0.82
IDFCFIRSTB
48.37
ICICIBANK
0.79
0.62
RELINFRA
249.27
INFY
1.09
0.57
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Technical & Derivatives Report
February 08, 2019
FII Statistics for February 07, 2019
Turnover on February 07, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3204.07
2204.86
999.20
343899
27706.44
0.79
275935
18803.17
6.94
FUTURES
FUTURES
INDEX
INDEX
189036.43
187862.77
1173.66
762536
59436.36
(4.66)
29920410
1688371.48
214.41
OPTIONS
OPTIONS
STOCK
11508.87
11035.46
473.41
1465702
88649.76
(0.01)
STOCK
FUTURES
816937
45508.13
-5.38
FUTURES
STOCK
STOCK
8029.33
7944.23
85.09
119853
7183.67
10.86
747749
44822.66
-5.61
OPTIONS
OPTIONS
Total
211778.69
209047.33
2731.37
2691990
182976.24
(0.85)
TOTAL
74455
700968
176.47
Nifty Spot = 11069.40
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11100
135.85
Buy
11100
144.65
49.15
50.85
11149.15
37.80
62.20
11062.20
Sell
11200
86.70
Sell
11000
106.85
Buy
11100
135.85
Buy
11100
144.65
86.40
113.60
11186.40
66.55
133.45
11033.45
Sell
11300
49.45
Sell
10900
78.10
Buy
11200
86.70
Buy
11000
106.85
37.25
62.75
11237.25
28.75
71.25
10971.25
Sell
11300
49.45
Sell
10900
78.10
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 08, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
317
325
330
338
344
ASIANPAINT
1,449
1,461
1,469
1,481
1,489
AXISBANK
720
725
729
735
739
BAJAJ-AUTO
2,733
2,793
2,833
2,893
2,932
BAJFINANCE
2,657
2,677
2,704
2,724
2,751
BAJAJFINSV
6,158
6,206
6,247
6,295
6,336
BPCL
336
338
340
342
344
BHARTIARTL
301
306
310
315
319
INFRATEL
284
295
302
313
320
CIPLA
517
525
536
544
554
COALINDIA
219
221
223
226
228
DRREDDY
2,772
2,797
2,816
2,841
2,860
EICHERMOT
20,859
21,382
21,673
22,196
22,488
GAIL
332
336
339
343
346
GRASIM
721
737
747
763
773
HCLTECH
1,044
1,053
1,066
1,075
1,087
HDFCBANK
2,094
2,105
2,118
2,130
2,142
HDFC
1,945
1,957
1,975
1,987
2,004
HEROMOTOCO
2,860
2,900
2,924
2,964
2,989
HINDALCO
206
207
210
212
214
HINDPETRO
230
233
235
239
241
HINDUNILVR
1,821
1,830
1,837
1,847
1,854
IBULHSGFIN
626
639
659
672
692
ICICIBANK
354
356
359
361
364
IOC
136
137
138
139
140
INDUSINDBK
1,494
1,505
1,517
1,528
1,540
INFY
756
760
765
769
773
ITC
275
278
279
282
283
JSW STEEL
266
270
276
279
285
KOTAKBANK
1,265
1,275
1,285
1,295
1,305
LT
1,270
1,283
1,302
1,315
1,334
M&M
685
693
701
709
717
MARUTI
7,134
7,218
7,269
7,353
7,404
NTPC
133
135
136
138
139
ONGC
144
146
147
149
150
POWERGRID
182
183
185
187
189
RELIANCE
1,264
1,277
1,299
1,312
1,334
SBIN
282
285
289
292
297
SUNPHARMA
409
422
434
447
459
TCS
2,052
2,067
2,083
2,098
2,114
TATAMOTORS
176
180
182
186
188
TATASTEEL
473
481
486
494
499
TECHM
788
797
806
815
825
TITAN
1,041
1,049
1,058
1,066
1,075
ULTRACEMCO
3,449
3,510
3,558
3,619
3,668
UPL
794
802
810
817
825
VEDANTA
160
162
164
165
167
WIPRO
368
371
373
376
377
YESBANK
171
174
178
181
185
ZEEL
377
393
402
418
428
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Technical & Derivatives Report
February 08, 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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