Technical & Derivatives Report
May 08, 2019
Sensex (38277) / Nifty (11498)
Exhibit 1: Nifty Daily Chart
Our markets kick-started the day with a decent upside gap as
trade tensions between two largest economies, US and China,
seemed to have cooled off a bit. However, index gave up all its
opening gains in the initial hour and then slipped into a
consolidation mode for a while. Recently, last couple of hours
have been crucial for our markets as we are seeing major action
during this period only. Quite similar to this, all of a sudden
massive sell off triggered in the market at the stroke of the
penultimate hour; which lasted almost till the final trade. In this
course of action, index tanked sharply to close below 11500 on a
closing basis.
We have been mentioning about a sacrosanct level of 11549
since last few weeks. With yesterday’s tail end correction, this
level has been thrashed with an ease. This price development
certainly does not bode well for the bulls. Going ahead, traders
should remain a bit cautious if index first gives a bounce back
towards intraday resistance levels of 11550 - 11580. The kind of
broad based selling we witnessed yesterday, if see follow through
move of this; index may extend this correction towards 11413 or
below levels. Now, if any positivity has to trigger in the market,
index needs to reclaim 11600 - 11640 convincingly. Till then
traders are advised to stay light and avoid taking undue risks.
Key Levels
Support 1 - 11413
Resistance 1 -
11550
Support 2 - 11389
Resistance 2 -
11580
Nifty Bank Outlook - (29288)
Exhibit 2: Nifty Bank Daily Chart
In yesterday's trading session, the Nifty Bank index opened on a
positive note. However, the previous day’s gap area acted as
resistance and the index then corrected sharply in the last hour of
the trade to end the session with a sharp cut of over 300 points.
During the last hour of trade, the index breached its swing low
support of 29435. This led to a sharp down move and the index
ended the day below the 29300 mark. Now, with the swing low
support breached, the index has formed a lower top lower bottom
structure and hence, we could see further pressure in the near
term. To negate this bearish pattern, the index has to cross above
29550-29600 as this would be seen as immediate resistance. On
the flipside, the immediate supports are placed around 29156
and 28900.
Key Levels
Support 1 - 29156
Resistance 1 -
29550
Support 2 - 28900
Resistance 2 -
29600
www.angelbroking.com
Technical & Derivatives Report
May 08, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.48%.
Bank Nifty futures open interest has increased by 6.42%
as market closed at 11497.90 levels.
The Nifty May future closed with a premium of 44.00
points against a premium of 58.10 points in last trading
session. The June series closed at a premium of 90.95
points.
The INDIA VIX has increased from 26.43 to 26.47.
At the same time, the PCR-OI of Nifty has decreased
from 1.30 to 1.14.
Few of the liquid counters where we have seen high cost
of carry are MCX, RPOWER, ARVIND, SUZLON and
BHEL.
Views
OI Gainers
Post Monday’s sharp fall, we began yesterday’s session
OI
PRICE
slightly higher but the overall buying interest was
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
missing. In the latter half, we witnessed sharp follow up
BHARATFIN
5539500
4.43
956.15
-2.01
selling to drag index below 11500 on the closing basis.
CGPOWER
20964000
-2.57
37.70
1.89
FII’s were net sellers in the equity segment to the tune of
ASIANPAINT
5047200
4.15
1412.80
-1.69
Rs. 645 crores. In index futures front, they were sellers of
ESCORTS
3988600
0.72
664.45
-0.10
Rs. 464 crores with fall in open interest, indicating some
MARICO
6279000
6.76
339.60
-4.36
profit booking in yesterday’s session.
GODREJIND
910500
-6.47
504.15
-0.91
In index options front, they were marginal sellers with rise
ARVIND
4720000
10.44
81.30
-1.08
in OI. In call options, we saw massive writing in
MUTHOOTFIN
1866000
-0.08
593.30
-1.07
11500-11650 strikes. On the flip side, we witnessed
some build-up in
11300-11450 puts followed by
unwinding in
11600-11700 strikes. Now, maximum
OI Losers
open interest concentration stands at 11800 call and
OI
PRICE
SCRIP
OI
PRICE
11500 put options.
CHG. (%)
CHG. (%)
Despite, sharp fall in this week we hardly saw any major
HEXAWARE
2271000
-5.08
340.85
1.13
shorting for the benchmark index. However, decent
CHOLAFIN
723000
10.64
1293.65
-1.84
shorts were formed in the banking index. Yesterday, Nifty
AJANTPHARM
740500
-9.47
1067.70
1.14
corrected below the strong support 11550-11600 and
FEDERALBNK
51674000
4.03
100.10
2.34
we did saw some panic like situation in options front, as
DCBBANK
4851000
6.94
216.50
0.44
put writers exited their position; whereas, fresh shorting
UBL
1873200
-5.68
1374.20
-0.58
was seen in
11600 put option. Going ahead,
ICICIBANK
103079625
3.28
401.30
-0.16
11550-11600 shall act as an immediate hurdle and
SUNTV
6777000
-0.88
553.05
-0.76
further selling may bring Nifty towards 11300-11350.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
MARICO
28.99
NIFTY
1.30
0.76
STAR
40.44
BANKNIFTY
0.83
0.87
GODREJIND
21.52
RELIANCE
0.71
0.83
DHFL
94.04
ICICIBANK
0.73
0.60
MUTHOOTFIN
29.95
INFY
0.97
0.54
www.angelbroking.com
Technical & Derivatives Report
May 08, 2019
FII Statistics for May 07, 2019
Turnover on May 07, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2155.04
2619.28
(464.24)
268219
21616.62
(1.12)
262857
18819.74
27.98
FUTURES
FUTURES
INDEX
INDEX
185359.07
185369.50
(10.43)
753040
58867.11
4.99
12958850
883644.39
47.65
OPTIONS
OPTIONS
STOCK
12250.15
12226.83
23.32
1454551
84718.88
1.04
STOCK
FUTURES
808570
45914.07
14.33
FUTURES
STOCK
STOCK
4834.69
4770.38
64.31
99225
5690.70
5.19
564175
33458.90
8.17
OPTIONS
OPTIONS
Total
204598.95
204985.99
(387.05)
2575035
170893.30
2.09
TOTAL
732838
2568108
43.48
Nifty Spot = 11497.90
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11500
352.15
Buy
11500
314.30
53.95
46.05
11553.95
44.15
55.85
11455.85
Sell
11600
298.20
Sell
11400
270.15
Buy
11500
352.15
Buy
11500
314.30
100.50
99.50
11600.50
84.40
115.60
11415.60
Sell
11700
251.65
Sell
11300
229.90
Buy
11600
298.20
Buy
11400
270.15
46.55
53.45
11646.55
40.25
59.75
11359.75
Sell
11700
251.65
Sell
11300
229.90
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
May 08, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
361
367
375
381
389
ASIANPAINT
1,347
1,367
1,397
1,418
1,447
AXISBANK
730
736
746
752
761
BAJAJ-AUTO
3,004
3,019
3,036
3,050
3,067
BAJFINANCE
2,969
2,993
3,031
3,055
3,094
BAJAJFINSV
7,421
7,492
7,595
7,665
7,769
BPCL
363
371
380
388
396
BHARTIARTL
310
317
329
337
348
INFRATEL
263
266
268
271
273
BRITANNIA
2,596
2,623
2,672
2,699
2,748
CIPLA
549
553
560
564
571
COALINDIA
243
246
251
253
258
DRREDDY
2,913
2,928
2,940
2,955
2,967
EICHERMOT
20,091
20,222
20,401
20,532
20,711
GAIL
328
335
346
352
363
GRASIM
840
856
882
898
923
HCLTECH
1,099
1,115
1,133
1,149
1,167
HDFCBANK
2,293
2,308
2,333
2,348
2,373
HDFC
1,928
1,947
1,978
1,997
2,028
HEROMOTOCO
2,492
2,510
2,539
2,556
2,585
HINDALCO
196
198
201
203
206
HINDUNILVR
1,655
1,676
1,694
1,715
1,732
IBULHSGFIN
661
670
681
690
701
ICICIBANK
370
378
393
401
416
IOC
150
152
154
156
159
INDUSINDBK
1,471
1,494
1,518
1,540
1,564
INFY
715
720
724
729
733
ITC
295
299
304
307
313
JSW STEEL
277
283
292
298
308
KOTAKBANK
1,385
1,397
1,411
1,422
1,437
LT
1,339
1,353
1,364
1,377
1,388
M&M
629
633
638
641
646
MARUTI
6,617
6,660
6,722
6,765
6,828
NTPC
132
133
135
136
137
ONGC
167
169
171
173
175
POWERGRID
189
190
192
193
195
RELIANCE
1,305
1,324
1,360
1,379
1,414
SBIN
298
302
308
311
317
SUNPHARMA
441
444
450
454
460
TCS
2,113
2,132
2,158
2,178
2,204
TATAMOTORS
181
186
194
199
208
TATASTEEL
519
525
535
541
551
TECHM
802
808
816
823
831
TITAN
1,070
1,078
1,092
1,100
1,114
ULTRACEMCO
4,491
4,511
4,535
4,555
4,579
UPL
926
938
947
959
968
VEDANTA
158
161
165
168
173
WIPRO
288
291
293
296
298
YESBANK
160
162
166
169
172
ZEEL
317
343
368
394
419
www.angelbroking.com
Technical & Derivatives Report
May 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]
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company cove*ed by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.
www.angelbroking.com