Technical & Derivatives Report
January 09, 2019
Sensex (35981) / Nifty (10802)
Exhibit 1: Nifty Daily Chart
Yesterday, we started the day on a flat note in-line with other
Asian peers. During the first half, index swayed on both sides with
lot of volatility. However, in the second half, strong buying
emerged at lower levels and thereafter, we had a steady up move
to reclaim the 10800 on a closing basis.
We had stated in the previous article about index oscillating
within the boundaries of a triangle pattern and we are very close
to its apex point now. Generally, in such scenario, we tend to see
breakout happening in either direction. Since, yesterday’s up
move was supported by heavyweight banking space, we will not
be surprised to see index breaking out in the upward direction.
For such development, a key level to watch out for would be
10850. A move beyond this would trigger sharp short covering
move to test 10940 and beyond levels. On the flipside, 10733
would be seen as a key support in the forthcoming session.
Yesterday, as mentioned, banking stocks were on a roll
throughout the day. Apart from this so many high beta pockets
kept buzzing and hence, one should focus on such potential
candidates which may provide better trading opportunities.
Key Levels
Support 1 - 10733
Resistance 1 -
10850
Support 2 - 10658
Resistance 2 -
10940
Nifty Bank Outlook - (27510)
Exhibit 2: Nifty Bank Daily Chart
Post opening on a flat note, the Nifty Bank index corrected by
more than 100 points in the first half-hour of the trade. However,
the index then recovered from the lows and rallied in the later
part to end the session with gains of more than 200 points.
Since last few days, we have been mentioning about the 'Rising
Wedge' pattern on the daily chart of the Nifty Bank index. With
the passage of time, the support has now shifted higher as
yesterday's recovery was from the trendline support. Hence, the
short-term support for the index has now shifted higher to 27160.
Yesterday, the index heavyweights such as ICICI Bank, SBI and
Axis Bank showed upmove with good volumes which indicates a
continuation of the uptrend. Also, stocks from the PSU basket
participated in the last hour of the trade. Considering the above
scenario, we continue with our advice to trade with a positive bias
and revise stoploss on long positions to 27160. On the flipside,
the intraday resistances are now seen around 27627 and 27725.
Key Levels
Support 1 - 27160
Resistance 1 -
27627
Support 2 - 26900
Resistance 2 -
27725
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Technical & Derivatives Report
January 09, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.92%.
Bank Nifty futures open interest has increased by 27.75%
as market closed at 10802.15 levels.
The Nifty January future closed with a premium of 42.50
points against a premium of 31.65 points in last trading
session. The February series closed at a premium of
75.50 points.
The INDIA VIX has decreased from 16.20 to 15.70.
At the same time, the PCR-OI of Nifty has increased from
1.36 to 1.41.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, JPASSOCIAT, SOUTHBANK,
TV18BRDCST and PTC.
Views
OI Gainers
Yesterday, we started-off the session slightly higher and
OI
PRICE
SCRIP
OI
PRICE
remained volatile within a range. But, some buying
CHG. (%)
CHG. (%)
interest in the latter half led Nifty closing above 10800
CEATLTD
942800
28.87
1272.65
-1.35
mark.
VGUARD
4083000
26.14
208.45
0.43
FIIs were net sellers in cash market segment to the tune
KSCL
1422000
23.28
537.75
-1.75
of Rs. 554 crores. In index futures segment, they sold of
ICICIBANK
96734000
14.01
380.15
3.31
Rs. 418 crores with rise in open interest, indicating short
DISHTV
62168000
11.64
40.50
-2.63
formation in previous trading session.
ORIENTBANK
13489000
11.00
100.85
3.94
In options front, we saw some unwinding in OTM call
INDIACEM
20794500
10.76
90.90
-0.65
strike 10900, 11000 and 11200; hinting further upside
HAVELLS
5228000
9.83
669.70
-3.22
scope. On the other side, fresh positions were formed in
10700 put options. Maximum open interest
concentration now stands at 11000 call and 10500 put
OI Losers
option.
OI
PRICE
SCRIP
OI
PRICE
Since the beginning of January series, we are witnessing
CHG. (%)
CHG. (%)
fresh long formation in Nifty futures and decent amount
NBCC
36440000
-7.14
62.45
1.87
of longs rolled over are also intact in the system.
JINDALSTEL
22374000
-5.33
157.75
3.76
Yesterday, we also saw unwinding in call option having
IOC
51576000
-5.11
134.00
0.56
highest OI concentration. Finally, BankNifty surpassed
CASTROLIND
6912200
-4.69
151.60
0.36
the hurdle of 27300-27400 on the closing basis and
GODREJIND
1708500
-4.61
539.55
0.56
added massive long position too. Looking at the above
DCBBANK
4702500
-4.39
177.45
1.72
data, we expect Nifty to soon surpass the next
HEXAWARE
2716500
-3.82
328.90
-0.50
10950-11000. Thus, traders are advised trading with
RAMCOCEM
700000
-3.74
631.80
0.40
positive bias in near term.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ICICIBANK
28.64
NIFTY
1.41
0.83
HAVELLS
33.30
BANKNIFTY
1.30
0.89
SREINFRA
66.35
RELIANCE
0.53
0.54
SBIN
31.43
ICICIBANK
0.93
0.68
RPOWER
51.05
INFY
0.84
0.45
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Technical & Derivatives Report
January 09, 2019
FII Statistics for January 08, 2019
Turnover on January 08, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2083.55
2501.58
(418.03)
390070
30773.43
3.32
279331
18882.17
7.56
FUTURES
FUTURES
INDEX
INDEX
72373.17
72860.85
(487.68)
688892
52023.24
3.25
10953282
637926.30
36.05
OPTIONS
OPTIONS
STOCK
11094.75
10866.93
227.82
1349308
82461.39
0.81
STOCK
FUTURES
725957
43262.98
13.29
FUTURES
STOCK
STOCK
2978.23
3005.46
(27.23)
114375
6604.90
1.51
465987
28370.07
12.66
OPTIONS
OPTIONS
Total
88529.70
89234.82
(705.12)
2542645
171862.96
1.87
TOTAL
74455
700968
32.49
Nifty Spot = 10802.15
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10800
182.20
Buy
10800
138.90
55.70
44.30
10855.70
33.65
66.35
10766.35
Sell
10900
126.50
Sell
10700
105.25
Buy
10800
182.20
Buy
10800
138.90
99.60
100.40
10899.60
61.30
138.70
10738.70
Sell
11000
82.60
Sell
10600
77.60
Buy
10900
126.50
Buy
10700
105.25
43.90
56.10
10943.90
27.65
72.35
10672.35
Sell
11000
82.60
Sell
10600
77.60
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 09, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
372
375
379
383
386
ASIANPAINT
1,386
1,394
1,403
1,411
1,420
AXISBANK
622
636
645
660
668
BAJAJ-AUTO
2,612
2,654
2,677
2,718
2,741
BAJFINANCE
2,491
2,514
2,548
2,571
2,605
BAJAJFINSV
6,314
6,379
6,419
6,484
6,524
BPCL
347
349
353
355
358
BHARTIARTL
320
324
328
333
337
INFRATEL
286
292
296
302
307
CIPLA
508
511
514
517
520
COALINDIA
231
232
234
235
237
DRREDDY
2,534
2,552
2,569
2,588
2,605
EICHERMOT
19,308
19,676
20,153
20,521
20,998
GAIL
349
352
356
358
362
GRASIM
801
819
829
847
857
HCLTECH
927
936
942
951
957
HDFCBANK
2,081
2,092
2,108
2,119
2,135
HDFC
1,928
1,944
1,963
1,979
1,998
HEROMOTOCO
2,901
2,936
2,965
3,000
3,029
HINDALCO
203
205
207
209
211
HINDPETRO
245
246
248
250
251
HINDUNILVR
1,743
1,757
1,775
1,789
1,808
IBULHSGFIN
766
789
804
828
843
ICICIBANK
361
371
376
386
391
IOC
132
133
134
135
135
INDUSINDBK
1,535
1,557
1,572
1,594
1,609
INFY
663
667
672
675
681
ITC
280
282
284
286
288
JSW STEEL
285
289
293
297
300
KOTAKBANK
1,215
1,222
1,233
1,240
1,251
LT
1,365
1,374
1,384
1,392
1,403
M&M
709
716
725
732
740
MARUTI
7,273
7,356
7,405
7,489
7,538
NTPC
144
145
147
149
151
ONGC
145
146
148
149
150
POWERGRID
195
196
197
199
200
RELIANCE
1,090
1,097
1,104
1,111
1,117
SBIN
291
298
302
309
313
SUNPHARMA
426
437
443
454
460
TCS
1,871
1,882
1,894
1,906
1,918
TATAMOTORS
174
177
179
182
183
TATASTEEL
480
486
490
495
499
TECHM
682
686
689
693
696
TITAN
933
940
945
951
956
ULTRACEMCO
3,796
3,856
3,900
3,960
4,003
UPL
738
745
755
762
772
VEDANTA
190
193
195
198
200
WIPRO
320
323
325
328
330
YESBANK
182
187
190
195
198
ZEEL
440
446
455
461
470
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Technical & Derivatives Report
January 09, 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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