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Technical & Derivatives Report
May 08, 2020
Nifty
Bank Out
-
(
19492
)
Bank Nifty as well started on a flat note and after initial swings
traded within a slender range to end with cuts of around 1% tad
below 19500 levels.
In our yesterday’s outlook, we had mentioned that the bank
index is placed between the key support and resistance levels
and hence we may see some consolidation. Yesterday, the bank
index formed a ‘DOJI’ pattern between the key levels which
indicates uncertainty. Going ahead, 18800 on the downside and
20300 on the upside will be closely watched as a move from the
same can give the next directional view. Traders are hence
advised to keep a tab on the above mentioned levels and trade
in the direction of the breakout.
Key Levels
Support 1 – 19000 Resistance 1 – 20000
Support 2 – 18800 Resistance 2 – 20300
Exhibit 1: Nifty Daily Chart
Sensex (31443) / Nifty (9199)
Yesterday morning, our markets opened flat and then
immediately fell in-line with SGX Nifty. During the initial hour, we
saw some marginal recovery, but this rebound immediately got
sold into. During the remaining part, the Nifty consolidated in a
slender range to conclude the weekly expiry precisely at 9200.
Yesterday, it was very much unlike a weekly expiry day as there
was no real action during the day. And hence, when there is no
major movement on a particular day (especially on expiry), it
becomes a nightmare for traders. Since we didn’t have any
notable move yesterday, the chart structure remains as it is and
hence, there is no change in intraday levels mentioned in the
previous article. We remain hopeful as long as a key support
zone of 9100-8900 is not violated. On the upside, intraday
resistances are seen at 9277 followed by 9350. A sustainable
move beyond this would trigger a good upmove to test the
sturdy wall of 9450 - 9550.
Although, it was a terrible day for index traders, there was good
amount of action seen in some of the individual stocks. Thus,
traders can look to find trading opportunities in such potential
movers.
Key Levels
Support 1 – 9100 Resistance 1 – 9277
Support 2 – 9000 Resistance 2 – 9350
Exhibit 2: Nifty Bank Daily Chart
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Nifty Vs OI
8400
8600
8800
9000
9200
9400
9600
9800
10000
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
4/15 4/17 4/21 4/23 4/27 4/29 5/4 5/6
(`000)
Openinterest Nifty
V
iew
s
Yesterday, our markets started on a flat note and after
an initial swings traded within a range for the remaing
part of the day and ended with loss of 0.78% tad at
9200 levels.
FIIs were net buyers in the cash market segment to the
tune of Rs. 19056 crores (including HUL. Block deal). In
index futures, they sold worth 1628 crores with
decrease in open interest indicating long unwinding
and short positions in yesterday’s session.
The indices traded within a range yesterday wherein
not much change was seen in the Nifty futures open
interest. However, open interest in Bank Nifty futures
reduced by about 11 percent indicating unwinding of
positions. FII's were sellers in the index futures
segment and they have reduced their long positions as
well. Their 'Long Short Ratio'which was at 60 percent
has now reduced to 50 percent. As per the options
data, the index has support around 9000 whereas
resistance is seen in the range of 9400-9500. The
index is expected to trade within this range in the near
term and hence, traders are are advised to avoid fresh
shorts here as the index has already corrected in last
few sessions and is now trading tad above the
suppport end. Trading with a stock specific approach
could be a better approach for the short term.
C
o
mmen
t
s
The Nifty futures open interest has increased by 1.70%
Bank Nifty futures open interest has decreased by 10.91
% as market closed at 9199.05 levels.
The Nifty May future closed with a premium of 5.2 point
against a premium of 9.8 point in last trading session.
The June series closed at a premium of 21.45 points.
The INDIA VIX has decreased from 41.24 to 39.93.
At the same time, the PCR-OI of Nifty decreased from
1.30 to 1.15.
Few of the liquid counters where we have seen high cost
of carry are, NCC, HINDALCO, MANAPPURAM, BHEL and
MOTHERSUMI.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HINDUNILVR 20075100 35.65 1992.05 -1.52
TATACHEM 1557900 12.62 286.05 -2.01
UBL 845600 12.27 874.20 -2.31
ASIANPAINT 5523900 10.21 1594.30 -1.01
HINDALCO 31038000 9.70 117.65 -0.76
NESTLEIND 271650 9.01 17142.30 -0.59
JINDALSTEL 14730000 8.75 90.75 1.28
PVR 1419200 6.26 912.00 1.78
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
VOLTAS 2931000 -15.22 442.20 -3.16
CESC 597600 -10.43 635.85 -2.12
ACC 1550000 -10.36 1152.60 -2.85
NIITTECH 576000 -9.75 1373.85 -2.88
EQUITAS 6673800 -9.20 50.40 -1.87
CUMMINSIND 900000 -8.84 358.40 -3.56
RBLBANK 22128400 -7.90 128.85 -2.90
TVSMOTOR 3732750 -7.46 320.75 -2.18
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.15 0.92
BANKNIFTY 0.74 0.69
RELIANCE 0.78 0.43
ICICIBANK 0.48 0.54
INFY 0.60 0.48
Historical Volatility
SCRIP HV
PIDILITIND 72.56
NTPC 60.11
GODREJCP 65.94
HAVELLS 69.69
INFRATEL 109.92
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Technical & Derivatives Report
May 08, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Spot =
9199.05
FII Statistics for May 07, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5603.74
7232.16
(1628.42) 106009
6246.83
(3.49)
INDEX
OPTIONS
331415.48
329922.43
1493.05
426225
28311.12
(13.95)
STOCK
FUTURES
12955.67
15932.91
(2977.24) 1494008
73056.42
0.42
STOCK
OPTIONS
2443.63
2439.63
4.00
44629
2233.68
17.72
Total 352418.52
355527.13
(3108.61) 2070871
109848.05
(2.82)
Turnover on May 07, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,19,110 27069.33 -31.37
Index Options 4,58,61,403
21,68,447.88 60.20
Stock Futures 9,00,120 46300.02 -2.16
Stock Options 6,76,848 38039.53 5.67
Total 4,79,57,481
22,79,856.76 54.43
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9200 324.60
51.95 48.05 9251.95
Sell 9300 272.65
Buy 9200 324.60
97.65 102.35 9297.65
Sell 9400 226.95
Buy 9300 272.65
45.70 54.30 9345.70
Sell 9400 226.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9200 320.65
43.60 56.40 9156.40
Sell 9100 277.05
Buy 9200 320.65
83.30 116.70 9116.70
Sell 9000 237.35
Buy 9100 277.05
39.70 60.30 9060.30
Sell 9000 237.35
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700 9800
Call Put
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
262
272
278
288
295
ASIANPAINT 1
,506
1,550
1,589
1,634
1,673
AXISBANK
375
386
394
406
414
BAJAJ-AUTO 2,345 2,376
2,431
2,462
2,517
BAJFINANCE 1,971 2,016
2,093
2,137
2,214
BAJAJFINSV 4,547 4,610
4,703
4,766
4,859
BPCL
319
325
333
338
347
BHARTIARTL
512
520
533
541
554
INFRATEL
150
161
168
179
186
BRITANNIA 2,808 2,862
2,921
2,975
3,034
CIPLA
579
584
593
598
607
COALINDIA
128
130
131
133
134
DRREDDY 3,746 3,792
3,864
3,910
3,982
EICHERMOT 13,551
13,781
13,943
14,173
14,335
GAIL
88
90
93
95
98
GRASIM
469
477
485
493
500
HCLTECH
486
499
520
533
555
HDFCBANK
908
916
930
938
952
HDFC 1,668 1,686
1,716
1,734
1,764
HEROMOTOCO
1,944
1,972
2,012
2,040
2,080
HINDALCO
113
116
119
121
124
HINDUNILVR 1,862 1,927
1,967
2,032
2,072
ICICIBANK
329
333
338
342
347
IOC
75
75
76
77
78
INDUSINDBK
398
426
444
472
490
INFY
655
660
667
672
679
ITC
157
159
162
164
168
JSW STEEL
158
165
170
177
181
KOTAKBANK 1,152 1,176
1,208
1,232
1,264
LT
810
817
826
833
842
M&M
378
389
396
408
415
MARUTI 4,606 4,678
4,807
4,878
5,007
NESTLEIND 16,628
16,885
17,083
17,340
17,537
NTPC
87
89
92
93
96
ONGC
73
74
76
78
80
POWERGRID
159
160
163
164
167
RELIANCE 1,420 1,463
1,489
1,532
1,557
SHREECEM 17,6
11
18,022
18,453
18,864
19,295
SBIN
167
169
171
173
174
SUNPHARMA
441
446
456
462
472
TCS 1,852 1,872
1,903
1,923
1,954
TATAMOTORS
81
82
83
84
86
TATASTEEL
270
273
278
281
286
TECHM
497
507
516
526
536
TITAN
826
838
858
870
890
ULTRACEMCO 3,140 3,197
3,287
3,344
3,434
UPL
355
362
373
379
390
VEDANTA
77
78
79
80
82
WIPRO
179
182
184
186
188
ZEEL
141
144
149
152
157
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Technical & Derivatives Report
May 08, 2020
*
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