Technical & Derivatives Report
January 10, 2019
Sensex (36212) / Nifty (10855)
Exhibit 1: Nifty Daily Chart
Yesterday, our markets kicked off with a decent upside gap as the
global set up was just ideal for such kind of head start.
Subsequently, index consolidated for a while by maintaining
overall upward bias. However, post the midsession, index
abruptly took a nosedive and gave away nearly 100 points before
anyone could realize. Fortunately for us, this pessimism didn’t last
long as we saw strong buying emerging at lower levels. As a
result, we had a v-shaped recovery in last one hour of trade to
eventually conclude almost at the highest point of the day.
Yesterday’s price action was quite interesting as we saw wild
swings on both sides. The volatility has risen and this is what we
have been vocal about since last couple of days. The closing
point is almost near to the opening point, but the kind of recovery
we had, it certainly bodes well for the bulls. We have been talking
about the ‘Triangle’ pattern and we are now on the verge of
breaking out in the upward direction. For the coming session, a
move beyond 10870 would unfold the rally towards 10940 and
beyond levels. On the flipside, 10733 has proved its significance
and now has become a sacrosanct level for the market.
The banking pack is clearly on a roll since few days and the way
it’s shaped up, we would expect this heavyweight pocket to
continue its dominance.
Key Levels
Support 1 - 10750
Resistance 1 -
10870
Support 2 - 10733
Resistance 2 -
10940
Nifty Bank Outlook - (27720)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened gap up in yesterday trading session.
The index traded with higher volatility post noon wherein the
index filled the gap and sneaked below yesterday's closing.
However, a sharp recovery was seen in the last hour of the day to
end at the high point.
The Nifty Bank index has been trading in a 'Rising Channel' and
yesterday's volatile move has also led to the formation of a
'Hanging Man' candlestick pattern. The mentioned candle has a
bearish implication but only if the low of the candle is breached.
Citing this volatility, we believe that the index would give a
breakout from this wedge in a day or two. Since the index
heavyweights are showing a positive trend, a breakout in the
index on the higher side should lead to a continuation of the
momentum towards 27950 and beyond. Since last few days, we
have been advising to trade with a positive bias and traders
should now revise the stop-loss on their existing positions below
27400.
Key Levels
Support 1 - 27540
Resistance 1 -
27870
Support 2 - 27400
Resistance 2 -
27950
www.angelbroking.com
Technical & Derivatives Report
January 10, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.52%.
Bank Nifty futures open interest has increased by 6.47%
as market closed at 10855.15 levels.
The Nifty January future closed with a premium of 22.55
points against a premium of 42.50 points in last trading
session. The February series closed at a premium of
51.50 points.
The INDIA VIX has decreased from 15.70 to 15.27.
At the same time, the PCR-OI of Nifty has increased from
1.41 to 1.43.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, SREINFRA, JPASSOCIAT,
SOUTHBANK and TATAMTRDVR.
Views
OI Gainers
Yesterday, we started-off the session with an upside gap
OI
PRICE
SCRIP
OI
PRICE
and consolidated in the slender range. In the later half,
CHG. (%)
CHG. (%)
volatility surged and we saw sharp fall in the blink of
SREINFRA
15132000
19.53
36.15
1.96
eyes but strong buying brought back above 10850 mark
ZEEL
15635100
13.07
451.25
-0.11
on the closing basis.
BATAINDIA
2310000
8.39
1148.20
1.49
FIIs were net buyers in cash market segment to the tune
GAIL
13017627
7.92
341.35
-3.28
of Rs. 276 crores. In index futures segment, they bought
INDUSINDBK
8636100
7.74
1601.75
1.47
of Rs. 460 crores with rise in open interest, indicating
CEATLTD
1012800
7.42
1259.45
-0.55
long formation in previous trading session.
CHENNPETRO
1323000
7.30
269.90
-3.82
In options front, we saw some build-up in 10900 call
UJJIVAN
4240000
7.11
286.15
0.21
option along with good amount of unwinding in 11100
and 11200 strikes. On the other side, fresh positions
were formed in 10900 put options. Maximum open
OI Losers
interest concentration now stands at 11000 call and
OI
PRICE
SCRIP
OI
PRICE
10500 put option.
CHG. (%)
CHG. (%)
Since the beginning of January series, we are witnessing
REPCOHOME
1324400
-10.15
424.10
-1.25
fresh long formation in Nifty futures and decent amount
APOLLOHOSP
765500
-8.10
1267.40
1.30
of longs rolled over are also intact in the system.
UBL
1801800
-7.61
1385.30
-1.82
Yesterday, we also saw unwinding in OTM call option of
BEML
1542800
-7.55
908.70
-0.98
11100 & 11200. Stronger hands too tuned net buyers in
EICHERMOT
385650
-6.44
20291.05
1.30
equities and index futures segment. Thus, we maintain
ALBK
18109000
-6.13
46.10
-3.34
our positive stands on market and expect index to
ORIENTBANK
12677000
-6.02
99.25
-1.97
surpass the hurdle of 11000 very soon.
GODREJIND
1615500
-5.44
537.80
-0.36
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
IDBI
24.71
NIFTY
1.43
0.96
GMRINFRA
44.56
BANKNIFTY
1.40
0.95
GAIL
35.24
RELIANCE
0.51
0.54
NMDC
38.34
ICICIBANK
0.93
0.88
ICICIPRULI
37.69
INFY
0.85
0.57
www.angelbroking.com
Technical & Derivatives Report
January 10, 2019
FII Statistics for January 09, 2019
Turnover on January 09, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3809.87
3349.39
460.48
398878
31476.85
2.26
355757
24123.47
27.76
FUTURES
FUTURES
INDEX
INDEX
129123.93
127874.85
1249.07
727992
54781.09
5.68
17306961
1004267.86
57.43
OPTIONS
OPTIONS
STOCK
12377.69
12744.15
(366.46)
1358275
82898.30
0.66
STOCK
FUTURES
822892
49013.19
13.29
FUTURES
STOCK
STOCK
7125.50
7089.91
35.59
124498
7282.46
8.85
658410
39837.58
40.42
OPTIONS
OPTIONS
Total
152436.99
151058.30
1378.69
2609643
176438.70
2.63
TOTAL
74455
700968
53.37
Nifty Spot = 10855.15
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10900
135.05
Buy
10900
157.70
47.15
52.85
10947.15
39.30
60.70
10860.70
Sell
11000
87.90
Sell
10800
118.40
Buy
10900
135.05
Buy
10900
157.70
82.35
117.65
10982.35
70.50
129.50
10829.50
Sell
11100
52.70
Sell
10700
87.20
Buy
11000
87.90
Buy
10800
118.40
35.20
64.80
11035.20
31.20
68.80
10768.80
Sell
11100
52.70
Sell
10700
87.20
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
www.angelbroking.com
Technical & Derivatives Report
January 10, 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
www.angelbroking.com
Technical & Derivatives Report
January 10, 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