Technical & Derivatives Report
April 10, 2019
Sensex (38939) / Nifty (11672)
Exhibit 1: Nifty Daily Chart
Markets opened flat as there was no major trigger on the global
as well as domestic front. During the first half, index did not have
any strength to climb higher and hence, we almost went back to
previous day’s low. Fortunately, there was sudden buying interest
seen at lower levels and hence, markets reversed before it breaks
previous day’s low. In fact, as we were approaching the fag end
of the session; the buying momentum accelerated across the
broader market, leading Nifty to close at the highest point of the
day by clocking over half a percent gains.
With reference to our previous article, we had highlighted about
Nifty finding some support around key technical moving averages
on hourly chart and hence, the subsequent session would be
quite crucial or we can say, may turn out to be a trend decider for
next few days. Very much in-line with this, Nifty went closer to
previous day’s low of 11549; but successfully managed to defend
Yesterday’s rally was undoubtedly propelled by the
it. This clearly brought mighty bulls back into the action and as a
heavyweight banking conglomerates. In addition, the midcap
result, we saw good trended move throughout the second half.
universe too had a smart rally to defend key support levels.
This has clearly set the tone for the forthcoming session and we
Traders are repeatedly advised to stay on the positive side and
will not be surprised to see a gap up opening today. The Nifty is
along with above mentioned sectors, can keep a close eye on
now at the cusp of important ‘Falling trend Line’ resistance of
‘Auto’ counters, that are clearly gearing up for strong moves.
11675. We would see acceleration after surpassing this level to
test 11710 first and then towards all time high of 11761. On the
flipside, the immediate support is now placed in the zone of
Key Levels
11638 - 11569 levels.
Support 1 - 11638
Resistance 1 -
11710
Support 2 - 11569
Resistance 2 -
11761
Nifty Bank Outlook - (30114)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened on a flat note yesterday and traded
in a narrow range till noon. The index took support near the
previous days low and rallied in last couple of hours to end the
day with gains of almost one percent.
In our last few reports, we have been mentioning about this
decline of last one week as a correction within an uptrend which
should be used as a buying opportunity. The index witnessed
some buying interest yesterday from the retracement support
which was placed around 29720. Going ahead, we expect the
positive momentum to continue in the banking space. The
immediate resistance is seen around 30250 and a move above
the same could lead to an acceleration of positive momentum.
The Nifty PSU Bank index took support near its '20 DEMA'
yesterday and hence, the PSU Banking names too could see a
good momentum if we see the index crossing the above-
mentioned level. The intraday supports are for Bank Nifty are
placed around 29890 and 29720.
Key Levels
Support 1 - 29890
Resistance 1 -
30250
Support 2 - 29720
Resistance 2 -
30440
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Technical & Derivatives Report
April 10, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.50%.
Bank Nifty futures open interest has increased by 1.51%
as market closed at 11671.95 levels.
The Nifty April future closed with a premium of 70.35
points against a premium of 70.40 points in last trading
session. The May series closed at a premium of 134.40
points.
The INDIA VIX has increased from 20.15 to 20.28.
At the same time, the PCR-OI of Nifty has increased from
1.38 to 1.47.
Few of the liquid counters where we have seen high cost
of carry are RPOWER, SUZLON, WOCKPHARMA,
KAJARIACER and BHEL.
Views
It was yet another attempt of recovery from the important
OI Gainers
support zone of 11550-11600. The benchmark index
OI
PRICE
opened on flat note with negative bias and consolidated
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
below 11600 mark. In the latter half, index not only
CEATLTD
1215600
12.39
1093.65
-1.61
recovered completely but also extended the up move
MRPL
4676000
11.33
70.00
-0.99
beyond 11650 mark on the closing basis.
DHFL
21831000
11.15
167.40
4.30
FII’s were net buyers in the equity segment to the tune of
TORNTPOWER
2460000
11.11
258.40
-0.44
about 1212 crores. In index futures segment too, they
INDIANB
3670000
7.56
271.45
1.22
were sellers of 211 crores with good amount of rise in
MCX
2105600
7.54
766.30
-0.21
open interest, indicating mixed activity.
RELCAPITAL
9037500
6.81
187.20
0.41
In index options front, they were buyers of Rs. 386 crores
CONCOR
1506732
6.28
519.35
0.61
with rise in OI. In the early morning, we witnessed decent
writing in 11650-11850 call options but as the day
progressed these positions were lightened up. On the flip
OI Losers
side, fresh writing was seen in 11500-11650 put options.
OI
PRICE
Now, the maximum OI concentration this weekly expiry
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
stood at 11800 call and 11600 put options.
PCJEWELLER
15366000
-12.48
91.10
-0.27
Last week, we witnessed decent open interest reduction in
CUMMINSIND
1631000
-10.45
740.50
3.86
both Nifty as well as BankNifty. However, good amount
MGL
548400
-9.77
1016.05
0.45
of longs are still intact in the system. Stronger hands
DLF
52897000
-8.71
188.15
1.72
rolled over their bullish bets in current series and are still
WOCKPHARMA
4230000
-5.75
444.00
0.92
holding same. In fact, they have been adding fresh long
CANFINHOME
3699000
-5.52
354.30
-1.83
positions in stock futures in April series. At present,
NATIONALUM
34560000
-5.12
56.45
1.52
11550-11600 is an important support area for Nifty.
ESCORTS
2964500
-5.04
774.80
1.96
Considering above data point, we expect further upside
towards 11750-11800 going ahead
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ASIANPAINT
26.28
NIFTY
1.47
0.87
CUMMINSIND
36.50
BANKNIFTY
1.05
0.85
TORNTPHARM
33.09
RELIANCE
0.47
0.45
WIPRO
33.14
ICICIBANK
0.60
0.57
ASHOKLEY
42.52
INFY
0.78
0.36
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Technical & Derivatives Report
April 10, 2019
FII Statistics for April 09, 2019
Turnover on April 09, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2502.42
2714.04
(211.62)
240280
19178.40
5.20
253260
18369.75
-0.99
FUTURES
FUTURES
INDEX
INDEX
169965.85
169579.99
385.86
892864
70118.52
3.74
12814131
867155.83
24.80
OPTIONS
OPTIONS
STOCK
11091.11
11319.09
(227.99)
1383520
89865.34
(1.00)
STOCK
FUTURES
743191
46130.00
6.48
FUTURES
STOCK
STOCK
5794.49
5774.43
20.07
109361
6870.88
5.67
673559
42996.82
7.26
OPTIONS
OPTIONS
Total
189353.87
189387.55
(33.68)
2626025
186033.14
1.39
TOTAL
623820
2238702
22.32
Nifty Spot = 11671.95
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11700
148.85
Buy
11700
107.80
51.95
48.05
11751.95
32.90
67.10
11667.10
Sell
11800
96.90
Sell
11600
74.90
Buy
11700
148.85
Buy
11700
107.80
90.85
109.15
11790.85
56.55
143.45
11643.45
Sell
11900
58.00
Sell
11500
51.25
Buy
11800
96.90
Buy
11600
74.90
38.90
61.10
11838.90
23.65
76.35
11576.35
Sell
11900
58.00
Sell
11500
51.25
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 10, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
370
375
378
384
387
ASIANPAINT
1,415
1,430
1,452
1,467
1,490
AXISBANK
745
754
760
769
775
BAJAJ-AUTO
2,806
2,865
2,898
2,957
2,989
BAJFINANCE
2,943
2,976
3,012
3,045
3,082
BAJAJFINSV
7,222
7,301
7,350
7,429
7,478
BPCL
341
348
353
361
365
BHARTIARTL
332
342
351
361
371
INFRATEL
309
312
315
318
321
BRITANNIA
2,918
2,941
2,965
2,987
3,011
CIPLA
522
527
531
536
540
COALINDIA
230
234
237
241
244
DRREDDY
2,723
2,738
2,752
2,767
2,781
EICHERMOT
20,106
20,527
20,775
21,196
21,444
GAIL
333
338
342
347
350
GRASIM
821
834
841
854
861
HCLTECH
1,082
1,100
1,114
1,133
1,147
HDFCBANK
2,250
2,269
2,286
2,305
2,322
HDFC
2,027
2,048
2,060
2,082
2,094
HEROMOTOCO
2,545
2,584
2,608
2,647
2,671
HINDALCO
209
213
216
219
222
HINDUNILVR
1,654
1,667
1,676
1,689
1,697
IBULHSGFIN
800
816
837
853
875
ICICIBANK
383
390
394
401
405
IOC
146
151
153
158
161
INDUSINDBK
1,714
1,741
1,757
1,783
1,799
INFY
749
755
764
770
779
ITC
291
293
295
298
300
JSW STEEL
283
287
290
294
297
KOTAKBANK
1,312
1,327
1,337
1,352
1,362
LT
1,355
1,365
1,376
1,386
1,397
M&M
657
662
666
672
675
MARUTI
7,022
7,119
7,177
7,274
7,332
NTPC
134
135
136
137
137
ONGC
156
157
158
159
160
POWERGRID
196
197
198
199
201
RELIANCE
1,312
1,323
1,332
1,343
1,352
SBIN
305
310
313
318
320
SUNPHARMA
448
460
466
477
484
TCS
2,042
2,067
2,082
2,107
2,123
TATAMOTORS
194
200
204
210
213
TATASTEEL
535
544
549
559
564
TECHM
781
785
792
796
802
TITAN
1,082
1,090
1,100
1,109
1,118
ULTRACEMCO
4,081
4,122
4,148
4,189
4,216
UPL
924
934
940
950
956
VEDANTA
182
186
188
193
195
WIPRO
259
266
271
278
282
YESBANK
254
262
267
276
280
ZEEL
401
406
409
414
417
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Technical & Derivatives Report
April 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]
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