Technical & Derivatives Report
August 08, 2019
Sensex (36690) / Nifty (10855)
Exhibit 1: Nifty Daily Chart
Following the positive momentum from the previous session, our
markets started higher owing to favourable global cues.
Subsequently, index slipped into a consolidation mode ahead of
key RBI policy. The overall sentiment has been destroyed so
much that even a surprising an unconventional rate cut of 35bps
couldn’t please the street. This eventually resulted into a last
hour sell-off to erase all gains to end with a loss of 0.85% tad
above the 10850 mark.
During all three sessions of the week, Index has traded within a
range of 10780 - 11000. The mentioned lower level of the
range is a strong support zone formed by (i) 61.8% retracement
level (10020 - 12103),(ii) weekly 89EMA and (iii) multi-month
trend line support. On Monday, we witnessed a bullish reversal
pattern like Hammer along with oscillators placed in oversold
territory and hence even after yesterday’s correction we continue
to see strong support in the zone 10750 - 10780. In addition,
we are witnessing a formation of Doji on Heikin Ashi charts
which hints for near term reversal hence traders are advised to
be watchful on their short positions around these levels. On the
flip side, a meaningful bounce can only be seen on a sustained
trade above 11000 levels. In such a scenario, traders are advised
to have stock-specific trades which are providing better trading
opportunities.
Key Levels
Support 1 - 10780
Resistance 1 -
10950
Support 2 - 10750
Resistance 2 -
11000
Nifty Bank Outlook - (27702)
Exhibit 2: Nifty Bank Daily Chart
Post Tuesday's pullback move, the Bank Nifty opened on a flat
note yesterday and consolidated in a range till the
announcement of the RBI monetary policy. Although RBI
announced rate cut of 35 bps, it failed to bring any momentum
and the index corrected sharply in the latter half of the day to
end with a loss of over 300 points.
Post the Tuesday's pullback, it seemed that the index would be
retracing the recent correction to an extent but the index again
witnessed selling pressure at higher levels. This clearly indicates
lack of confidence amongst buyers and hence the volatility is
likely to remain high in near term. The immediate support for the
index placed in the range of 27500-27380 whereas resistance is
seen around 28200.
Key Levels
Support 1 - 27500
Resistance 1 -
28000
Support 2 - 27380
Resistance 2 -
28200
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August 08, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.57%
Bank Nifty futures open interest has increased by 2.96%
as market closed at 10855.50 levels.
The Nifty August future closed with a premium of 18.75
points against a premium of 30.40 points in last trading
session. The September series closed at a premium of
68.75 points.
The INDIA VIX has increased from
16.12 to
16.74.
At the same time, the PCR-OI of Nifty has decreased
from 1.12 to 0.98.
Few of the liquid counters where we have seen high cost
of carry are IDEA, DISHTV, ASHOKLEY, PNB and
EQUITAS.
Views
OI Gainers
The index consolidated in a range below the 11000
OI
PRICE
SCRIP
OI
PRICE
mark till noon in yesterday’s session. However, post
CHG. (%)
CHG. (%)
the announcement of the RBI policy, the index
IBULHSGFIN
20986400
21.99
445.40
-14.99
BSOFT
2932500
11.65
69.05
-7.55
corrected in last couple of hours and ended the day
with a loss of about 100 points.
BALKRISIND
2112000
11.35
724.05
1.71
RAMCOCEM
1101600
9.63
737.85
0.27
FIIs were net sellers in cash market segment to the
BERGEPAINT
2673000
8.10
349.10
0.12
tune of Rs. 383 cr. In index futures segment, they sold
BANKBARODA
61447500
7.42
97.60
-6.35
of worth Rs. 980 cr with rise in open interest indicating
BHEL
53085000
7.32
57.50
0.26
formation of fresh short positions in yesterday’s
ULTRACEMCO
2543800
6.95
4341.70
-0.30
session..
The options data had hinted resistance at the 11000
mark in yesterday’s session. The index corrected in the
OI Losers
later half of the session as fresh formation in index
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
futures were formed by the stronger hands. The
KAJARIACER
1613300
-15.81
478.65
1.44
immediate support for the index is placed in the range
SRF
1128000
-13.11
2878.85
-3.49
of 10750-10800 whereas 11000 continue to be the
MFSL
3492000
-11.68
394.60
-5.01
immediate resistance. The recent data indicates that
JUSTDIAL
2126600
-8.66
712.50
1.89
the short positions in the index are still intact and since
ICICIBANK
80825250
-6.39
408.40
-0.66
the PCR-OI is below 1, there could be some short
covering from the mentioned support range.
CASTROLIND
7894800
-6.22
118.95
2.42
TATAGLOBAL
7233300
-6.20
269.40
-0.46
ONGC
60401250
-6.14
130.50
-0.80
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
M&M
42.47
NIFTY
0.98
0.74
IBULHSGFIN
120.98
BANKNIFTY
0.60
0.86
JINDALSTEL
89.55
RELIANCE
0.38
0.54
BSOFT
60.92
ICICIBANK
0.56
0.64
MFSL
44.72
INFY
1.11
0.56
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Technical & Derivatives Report
August 08, 2019
FII Statistics for August 07, 2019
Turnover on August 07, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3860.29
4840.89
(980.60)
266906
20508.80
3.94
379047
25940.10
-1.82
FUTURES
FUTURES
INDEX
INDEX
316650.05
315663.90
986.15
709895
53210.86
(1.81)
21810855
1412788.21
66.35
OPTIONS
OPTIONS
STOCK
13956.43
13347.86
608.57
1530168
89246.37
0.37
STOCK
FUTURES
933140
50351.48
2.84
FUTURES
STOCK
STOCK
5656.29
5660.09
(3.80)
77821
4221.91
2.09
791635
45361.57
8.61
OPTIONS
OPTIONS
Total
340123.06
339512.74
610.32
2584790
167187.94
0.16
TOTAL
2,39,14,677
1534441.36
58.77
Nifty Spot = 10855.50
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10900
147.05
Buy
10800
132.75
45.85
54.15
10945.85
31.65
68.35
10768.35
Sell
11000
101.20
Sell
10700
101.10
Buy
10900
147.05
Buy
10800
132.75
82.20
117.80
10982.20
57.80
142.20
10742.20
Sell
11100
64.85
Sell
10600
74.95
Buy
11000
101.20
Buy
10700
101.10
36.35
63.65
11036.35
26.15
73.85
10673.85
Sell
11100
64.85
Sell
10600
74.95
Nifty Put-Call Analysis
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
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August 08, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
359
365
372
379
386
ASIANPAINT
1,539
1,549
1,562
1,572
1,585
AXISBANK
639
650
665
675
690
BAJAJ-AUTO
2,558
2,582
2,609
2,632
2,659
BAJFINANCE
3,208
3,237
3,281
3,310
3,354
BAJAJFINSV
7,026
7,089
7,140
7,203
7,253
BPCL
318
325
336
342
353
BHARTIARTL
357
361
367
372
378
INFRATEL
237
241
245
250
254
BRITANNIA
2,510
2,525
2,545
2,560
2,580
CIPLA
491
505
515
529
539
COALINDIA
198
202
206
210
213
DRREDDY
2,514
2,536
2,562
2,583
2,610
EICHERMOT
15,822
16,140
16,657
16,974
17,492
GAIL
118
120
122
124
126
GRASIM
715
726
745
756
775
HCLTECH
999
1,011
1,028
1,040
1,058
HDFCBANK
2,147
2,165
2,184
2,202
2,221
HDFC
2,141
2,158
2,179
2,196
2,216
HEROMOTOCO
2,441
2,473
2,501
2,533
2,561
HINDALCO
170
173
179
182
187
HINDUNILVR
1,721
1,749
1,768
1,796
1,815
IBULHSGFIN
403
424
462
483
521
ICICIBANK
401
405
410
414
419
IOC
125
127
130
132
135
INDUSINDBK
1,388
1,407
1,435
1,454
1,481
INFY
766
771
777
782
788
ITC
249
251
255
258
262
JSW STEEL
206
209
214
217
221
KOTAKBANK
1,446
1,461
1,480
1,495
1,515
LT
1,331
1,345
1,368
1,382
1,405
M&M
492
505
528
542
565
MARUTI
5,661
5,718
5,793
5,849
5,924
NTPC
121
122
123
125
126
ONGC
127
129
130
132
134
POWERGRID
195
197
199
201
203
RELIANCE
1,082
1,095
1,117
1,131
1,152
SBIN
280
285
294
299
307
SUNPHARMA
412
416
423
427
434
TCS
2,188
2,201
2,220
2,232
2,251
TATAMOTORS
112
115
119
122
127
TATASTEEL
364
373
385
394
405
TECHM
666
670
674
679
683
TITAN
980
1,004
1,022
1,047
1,065
ULTRACEMCO
4,260
4,301
4,362
4,403
4,464
UPL
514
523
537
547
561
VEDANTA
133
135
138
140
143
WIPRO
257
260
262
265
267
YESBANK
82
85
88
91
94
ZEEL
300
314
327
341
355
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Technical & Derivatives Report
August 08, 2019
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
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