Technical & Derivatives Report
May 10, 2019
Sensex (37559) / Nifty (11302)
Exhibit 1: Nifty Daily Chart
For the second straight session we had a gap down opening,
which was very much evident considering the global uncertainty
and the breach of key technical levels in our markets. During the
initial hour, we had an attempt to bounce back a bit but it got
sold into and index tested sub-11300 levels. During the latter
half, most of the oversold propositions started giving a technical
bounce back, which was then partially sold off to conclude the
volatile day with a cut of half a percent.
Yesterday’s price movement was very much on expected lines and
bears seemed to have given respect to the mentioned support
level of 11260. With yesterday’s move, prices have almost
retraced by 50% and have managed to test the daily ’89-EMA’ as
well. For a time being, we expect 11250 - 11200 to provide
decent support and a possibility of some bounce back cannot be
ruled out. Moreover, the daily chart now depicts a ‘Bullish
Hammer’ pattern, which will get activated only after surpassing
yesterday’s high of 11357.60. In this scenario, an immediate
recovery towards 11400 - 11450 would be very much warranted.
At present, traders are advised not to remain aggressively short in
the market. Yes, lot of uncertainty is looming around us, but
prices are extremely oversold and especially, if we look at the
‘Midcap’ index, it does not give any comfort to remain
aggressively on the short side. It’s better to adopt a stock specific
approach and should ideally remain light on positions.
Key Levels
Support 1 - 11250
Resistance 1 -
11358
Support 2 - 11200
Resistance 2 -
11400
Nifty Bank Outlook - (28885)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened on a negative note, continuing its
previous session's negative momentum. However, index oscillated
in a range throughout the day and ended near the opening
levels, thus forming a 'Doji' candlestick pattern on the daily chart.
The above -mentioned candlestick pattern indicates indecision
amongst market participants. Hence, yesterday's high and low of
29040 and 28784 respectively would be seen as crucial levels
today. A breach on either side could bring some momentum in
the direction of the breakout. As of now, the near term trend still
remains negative and until we see any definite signs of reversal,
traders should prefer to stay light on positions. The supports are
placed around 28784 followed by the 89 DEMA at 28546. On
the flipside, 29040 and 29250 are the immediate resistances.
Key Levels
Support 1 - 28784
Resistance 1 -
29040
Support 2 - 28546
Resistance 2 -
29250
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Technical & Derivatives Report
May 10, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 5.99%.
Bank Nifty futures open interest has decreased by 4.95%
as market closed at 11301.80 levels.
The Nifty May future closed with a premium of 33.00
points against a premium of 59.15 points in last trading
session. The June series closed at a premium of 77.40
points.
The INDIA VIX has decreased from 26.36 to 25.48.
At the same time, the PCR-OI of Nifty has decreased
from 1.04 to 1.02.
Few of the liquid counters where we have seen high cost
of carry are IGL, INFIBEAM, VOLTAS, KAJARIACER and
ESCORTS.
Views
OI Gainers
We witnessed extension of recent fall towards the support
OI
PRICE
zone of 11250-11270 acted as a support and some
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
recovering ted closing above 11300 mark.
IGL
2656500
14.18
315.75
1.60
FII’s were net sellers in the equity segment to the tune of
INFIBEAM
10936000
11.68
42.45
0.36
Rs. 655 crores. In index futures front, they were sellers of
VOLTAS
6602000
11.61
574.10
-1.17
Rs. 2068 crores with fall in open interest, indicating
KAJARIACER
2520700
9.24
562.85
-0.81
decent amount of long unwinding in yesterday’s session.
ESCORTS
5214000
7.56
609.85
-2.95
In index options front, they were buyers of Rs. 2047
MGL
721800
7.12
938.45
1.24
crores with fall in OI. In call options, we saw good
SHREECEM
106450
6.40
19318.90
-2.44
amount of writing in 11300-11700 strikes. On the flip
GODREJIND
1053000
6.36
471.30
-1.07
side, we witnessed decent build-up in 11000-11300 puts
followed by unwinding in 11400 strike. Now, maximum
open interest concentration stands at 11500 call and
OI Losers
11000 put options.
OI
PRICE
SCRIP
OI
PRICE
In the correction seen, we witnessed decent amount of
CHG. (%)
CHG. (%)
profit booking along with some short formation in both
APOLLOHOSP
972000
-7.25
1169.60
-0.07
Nifty as well as BankNifty. However, the quantum of
ASIANPAINT
5588400
-5.61
1354.20
-2.12
shorting was insignificant. Yesterday, Nifty corrected
BALKRISIND
1326400
-5.15
837.65
0.89
towards the immediate support of 11250-11270 and we
STAR
2281400
-4.91
484.45
-0.84
did saw some recovery from these levels. Going ahead,
HEXAWARE
1789500
-4.71
345.70
1.03
11200-11250 shall act as an immediate support;
RAMCOCEM
1181600
-4.71
748.50
-0.31
whereas, according to options statistics hurdle is placed
SRTRANSFIN
3637200
-4.17
1033.05
0.26
around 11450-11500. Hence, traders are advised to
PIDILITIND
3176500
-3.64
1159.50
-0.50
covering their shorts and use declines to pick quality
stocks.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CEATLTD
37.58
NIFTY
1.02
0.77
MRPL
34.34
BANKNIFTY
0.55
0.68
SHREECEM
24.18
RELIANCE
0.52
0.64
APOLLOTYRE
35.29
ICICIBANK
0.65
0.60
COALINDIA
25.79
INFY
0.95
0.40
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Technical & Derivatives Report
May 10, 2019
FII Statistics for May 09, 2019
Turnover on May 09, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3244.57
5312.93
(2068.36)
254726
19968.20
(6.85)
283879
20546.91
1.45
FUTURES
FUTURES
INDEX
INDEX
358547.32
356500.44
2046.88
728623
57132.65
(10.15)
31710570
2057527.34
67.30
OPTIONS
OPTIONS
STOCK
10676.94
11628.71
(951.77)
1454781
83419.33
0.23
STOCK
FUTURES
754054
42075.02
-6.77
FUTURES
STOCK
STOCK
4140.01
4299.99
(159.97)
109916
6263.62
4.73
485921
28770.68
-1.70
OPTIONS
OPTIONS
Total
376608.85
377742.07
(1133.22)
2548046
166783.80
(3.51)
TOTAL
732838
2568108
62.25
Nifty Spot = 11359.45
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11300
320.05
Buy
11300
286.95
51.15
48.85
11351.15
43.40
56.60
11256.60
Sell
11400
268.90
Sell
11200
243.55
Buy
11300
320.05
Buy
11300
286.95
97.75
102.25
11397.75
81.10
118.90
11218.90
Sell
11500
222.30
Sell
11100
205.85
Buy
11400
268.90
Buy
11200
243.55
46.60
53.40
11446.60
37.70
62.30
11162.30
Sell
11500
222.30
Sell
11100
205.85
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
May 10, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
356
360
365
369
375
ASIANPAINT
1,318
1,336
1,365
1,383
1,412
AXISBANK
723
727
734
738
745
BAJAJ-AUTO
2,908
2,946
2,970
3,007
3,031
BAJFINANCE
2,843
2,907
2,949
3,014
3,056
BAJAJFINSV
7,197
7,332
7,413
7,548
7,629
BPCL
358
363
371
376
384
BHARTIARTL
304
310
318
324
332
INFRATEL
258
263
266
271
274
BRITANNIA
2,614
2,643
2,666
2,696
2,719
CIPLA
543
551
556
563
568
COALINDIA
235
239
245
248
254
DRREDDY
2,812
2,856
2,883
2,927
2,954
EICHERMOT
20,097
20,229
20,360
20,492
20,623
GAIL
330
335
338
344
347
GRASIM
850
860
866
876
882
HCLTECH
1,096
1,116
1,131
1,151
1,165
HDFCBANK
2,259
2,275
2,288
2,303
2,316
HDFC
1,886
1,900
1,916
1,930
1,946
HEROMOTOCO
2,463
2,501
2,528
2,565
2,592
HINDALCO
193
196
199
201
204
HINDUNILVR
1,662
1,683
1,698
1,719
1,734
IBULHSGFIN
660
671
679
690
699
ICICIBANK
373
377
382
386
390
IOC
148
149
151
152
154
INDUSINDBK
1,458
1,467
1,478
1,487
1,498
INFY
708
714
722
729
737
ITC
294
297
299
302
304
JSW STEEL
275
280
285
291
296
KOTAKBANK
1,345
1,365
1,387
1,407
1,428
LT
1,323
1,340
1,354
1,371
1,385
M&M
611
618
623
630
635
MARUTI
6,556
6,591
6,634
6,669
6,712
NTPC
124
126
128
130
133
ONGC
166
168
169
171
172
POWERGRID
184
186
188
190
192
RELIANCE
1,229
1,243
1,266
1,280
1,303
SBIN
294
297
299
302
304
SUNPHARMA
427
433
438
444
449
TCS
2,116
2,144
2,164
2,192
2,212
TATAMOTORS
179
183
186
190
194
TATASTEEL
511
515
521
525
531
TECHM
792
801
808
817
823
TITAN
1,080
1,092
1,101
1,113
1,122
ULTRACEMCO
4,417
4,448
4,486
4,516
4,555
UPL
932
941
951
959
970
VEDANTA
154
156
158
160
162
WIPRO
289
290
291
293
294
YESBANK
151
161
166
176
181
ZEEL
325
342
352
368
379
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Technical & Derivatives Report
May 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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