Technical & Derivatives Report
April 09, 2019
Sensex (38701) / Nifty (11604)
Exhibit 1: Nifty Daily Chart
Trading for the week kick started on a positive note slightly above
11700, very much in-line with other Asian peers. However, it
looked like a fragile gap up opening and hence, markets started
coming off immediately from opening trades. In fact, the selling
aggravated as the day progressed and hence, we not only erased
early morning gains but also went on to sneak well below key
support levels by shedding more than 100 points from previous
close. Fortunately, some buying emerged at lower levels which
pulled the index to reclaim the 11600 mark on a closing basis.
Yesterday, there were bundle of heavyweight stocks that
remained under pressure throughout the day. The broader end of
the spectrum too had a rub off effect of this decent profit
booking. Although, we have managed to find some support
around key technical moving averages on hourly chart, the
subsequent session would be quite crucial or we can say, may
turn out to be a trend decider for next few days. As of now, we
still do not see any major reason to worry for and construe this as
a part of a profit booking phase. For the coming session, 11549
would now be seen as a crucial support. A sustainable move
below this would result into an extended correction towards
11500 - 11465. On the flipside, the immediate resistance is now
placed in the zone of 11650 - 11710 levels.
At this juncture, the ideal strategy would be not to trade
aggressively and one needs to be extremely stock specific when it
comes to a momentum trade.
Key Levels
Support 1 - 11549
Resistance 1 -
11650
Support 2 - 11500
Resistance 2 -
11710
Nifty Bank Outlook - (29845)
Exhibit 2: Nifty Bank Daily Chart
Post starting the day marginally positive, the Nifty Bank corrected
from the opening levels and remained under pressure throughout
the session to end with a loss of eight-tenths of a percent.
In the last few sessions, the Nifty Bank has corrected post the
negative divergence seen with the RSI. However, the 'Higher Top
Higher Bottom' structure is still intact on the daily chart and hence,
this down move should be seen as a correction within an uptrend.
The index has retraced
61.8% of the previous up move,
and 29720 (retracement support) followed by 29530 (20 DEMA)
are seen as crucial supports. Positional traders are advised to buy
this dip near the mentioned supports. The immediate resistances
in the index are seen around 30040 and 30250.
Key Levels
Support 1 - 29720
Resistance 1 -
30040
Support 2 - 29530
Resistance 2 -
30250
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Technical & Derivatives Report
April 09, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.84%.
Bank Nifty futures open interest has increased by 2.17%
as market closed at 11604.50 levels.
The Nifty April future closed with a premium of 70.40
points against a premium of 94.80 points in last trading
session. The May series closed at a premium of 137.10
points.
The INDIA VIX has increased from 18.39 to 20.15.
At the same time, the PCR-OI of Nifty has decreased
from 1.61 to 1.38.
Few of the liquid counters where we have seen high cost
of carry are ARVIND, TATAMOTORS, OIL, GODFRYPHLP
and PCJEWELLER.
Views
OI Gainers
We had a positive start for the week; however, follow-up
OI
PRICE
SCRIP
OI
PRICE
buying was missing. Index tanked below 11550 mark but
CHG. (%)
CHG. (%)
decent recovery led closing tad above 11600 mark.
DLF
57941000
55.03
184.60
-8.63
FII’s were net buyers in the equity segment to the tune of
PCJEWELLER
17556500
25.98
91.20
4.61
about 329 crores. In index futures segment too, they
TORNTPHARM
754500
12.95
1794.90
-2.43
were buyers to the tune of 865 crores with marginal
GAIL
10726674
12.41
341.90
-2.05
change in open interest, indicating blend of long
NIITTECH
1789500
12.18
1301.70
-3.64
unwinding and some short formation.
GODFRYPHLP
557200
10.25
1115.55
-0.60
In index options front, they were buyers of Rs. 1174
HEXAWARE
2640000
9.32
351.35
-2.16
crores with rise in OI. In call options, 11600-11900
COLPAL
1838200
8.02
1219.90
-0.84
strike added good amount of fresh positions. On the
other side, decent OI addition was seen in 11500 and
11600 puts; followed by decent unwinding in 11600 and
OI Losers
11650 strikes. Now, the maximum OI concentration this
OI
PRICE
SCRIP
OI
PRICE
weekly expiry stood at 11700 call and 11600 put
CHG. (%)
CHG. (%)
DHFL
19641000
-18.46
161.20
-2.06
options.
INDIANB
3412000
-8.62
269.35
-1.58
Since past couple of session, we are witnessing decent
OIL
7457406
-8.09
178.70
-0.39
unwinding of long positions. The volatility had resistance
CHENNPETRO
1152000
-6.71
252.45
-4.53
around 17 and in recent profit booking this figure has
surged to 20. At present, 11550-11600 is an important
LUPIN
9456300
-6.19
792.65
0.04
support zone and we saw some recovery from these
ACC
2440400
-6.10
1640.40
-1.27
levels too. Hence, until index trades above these levels
PVR
553200
-5.85
1681.90
-0.45
traders are advised trading with a positive bias.
SRF
892500
-5.56
2478.25
-0.37
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
DLF
63.66
NIFTY
1.38
0.86
NIITTECH
26.12
BANKNIFTY
0.72
1.03
CHENNPETRO
47.76
RELIANCE
0.45
0.68
BAJFINANCE
31.61
ICICIBANK
0.56
0.66
IOC
45.68
INFY
0.94
0.31
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Technical & Derivatives Report
April 09, 2019
FII Statistics for April 08, 2019
Turnover on April 08, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2625.48
3490.46
(864.99)
228404
18193.57
(0.04)
216481
15878.92
-27.05
FUTURES
FUTURES
INDEX
INDEX
154149.17
152975.44
1173.73
860713
67734.93
5.62
7743052
528433.69
-75.17
OPTIONS
OPTIONS
STOCK
10392.14
11431.49
(1039.36)
1397527
90171.79
0.32
STOCK
FUTURES
699415
43094.45
-10.74
FUTURES
STOCK
STOCK
5866.75
5917.39
(50.63)
103495
6476.69
4.94
574904
36413.19
-9.89
OPTIONS
OPTIONS
Total
173033.54
173814.79
(781.25)
2590139
182576.98
2.17
TOTAL
623820
2238702
-72.13
Nifty Spot = 11604.50
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11600
177.25
Buy
11600
72.20
56.55
43.45
11656.55
22.20
77.80
11577.80
Sell
11700
120.70
Sell
11500
50.00
Buy
11600
177.25
Buy
11600
72.20
100.80
99.20
11700.80
37.15
162.85
11562.85
Sell
11800
76.45
Sell
11400
35.05
Buy
11700
120.70
Buy
11500
50.00
44.25
55.75
11744.25
14.95
85.05
11485.05
Sell
11800
76.45
Sell
11400
35.05
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 09, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
368
374
381
387
394
ASIANPAINT
1,471
1,484
1,499
1,512
1,527
AXISBANK
738
746
757
766
777
BAJAJ-AUTO
2,823
2,838
2,857
2,872
2,891
BAJFINANCE
2,945
2,985
3,057
3,097
3,169
BAJAJFINSV
7,236
7,292
7,366
7,422
7,496
BPCL
346
348
352
354
357
BHARTIARTL
346
350
357
362
368
INFRATEL
311
314
316
319
321
BRITANNIA
2,934
2,953
2,983
3,002
3,033
CIPLA
514
520
528
534
543
COALINDIA
229
231
234
236
238
DRREDDY
2,729
2,746
2,763
2,781
2,798
EICHERMOT
20,136
20,375
20,782
21,020
21,427
GAIL
334
338
344
348
355
GRASIM
824
832
845
853
866
HCLTECH
1,073
1,085
1,093
1,105
1,113
HDFCBANK
2,255
2,272
2,297
2,315
2,340
HDFC
2,009
2,032
2,052
2,075
2,095
HEROMOTOCO
2,541
2,564
2,604
2,627
2,667
HINDALCO
210
212
215
217
220
HINDUNILVR
1,644
1,655
1,667
1,677
1,690
IBULHSGFIN
813
836
876
900
940
ICICIBANK
381
384
388
391
394
IOC
148
150
154
156
159
INDUSINDBK
1,713
1,732
1,765
1,784
1,818
INFY
750
758
764
773
779
ITC
290
291
293
295
296
JSW STEEL
283
287
293
296
302
KOTAKBANK
1,327
1,335
1,341
1,349
1,356
LT
1,354
1,364
1,375
1,385
1,397
M&M
655
661
665
671
675
MARUTI
7,003
7,066
7,108
7,171
7,213
NTPC
133
134
136
137
138
ONGC
155
156
158
160
162
POWERGRID
193
196
198
201
203
RELIANCE
1,303
1,316
1,337
1,350
1,371
SBIN
306
310
314
318
323
SUNPHARMA
457
460
463
466
470
TCS
2,017
2,044
2,059
2,086
2,102
TATAMOTORS
194
197
202
206
211
TATASTEEL
539
544
551
555
562
TECHM
767
777
784
794
800
TITAN
1,081
1,093
1,104
1,116
1,127
ULTRACEMCO
4,080
4,123
4,179
4,223
4,279
UPL
927
937
944
954
961
VEDANTA
179
183
189
193
199
WIPRO
259
261
263
266
268
YESBANK
252
256
262
266
272
ZEEL
393
399
409
415
425
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Technical & Derivatives Report
April 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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