Technical & Derivatives Report
September 10, 2018
Sensex (38390) / Nifty (11589)
Exhibit 1: Nifty Daily Chart
Mostly, in a strong up trend, if market has to undergo some kind
of correction, we see that pain coming out in the first half of the
week and the latter part tries to make up for the damage. Similar
thing was witnessed during last week, the index first took a
nosedive from Monday’s high and then remained under pressure;
courtesy to relentless appreciation in US Dollar against the Indian
Rupee. Previously, our markets managed to handle up to the 71
mark; but the moment this level crossed, it called for some kind
of panic in the traders’ fraternity. But, fortunately, the end was
good for the week after USDINR cooling off a bit and hence, Nifty
managed to recoup some losses to close tad below the 11600
mark.
Technically speaking, we did witness a ‘Bullish Hammer’ pattern
getting formed during the midst of the week and it has shown
some significance of it. But now, first half of this week would be
As far as sectoral watch is concerned, the ‘Metal’ pack was on a
quite crucial in order to draw the immediate route map for the
roll and considering the positive chart structure of ‘Nifty Metal’
market. The index will have to convincingly traverse the strong
index, we expect further legs to unfold in this space. Apart from
resistance zone of 11640 - 11700, if it has to gain some real
this, after some early damage, the midcap index has managed to
strength in the near term. It looks possible considering the
recover fair bit of ground in last couple of days and hence, do
broader market participation; but as a trader, one needs to be
watch out for more action in this universe as well.
closely tracking how index behaves around those important
levels. On the lower side, 11484 followed by 11436 would now
Key Levels
be seen as immediate and crucial supports. At this juncture, a
Support 1 - 11516
Resistance 1 -
11640
strategy would be to focus on individual pockets that are
Support 2 - 11484
Resistance 2 -
11700
providing better trading opportunities.
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (27482)
Post a sharp sell-off in last week, the Nifty Bank index
consolidated in a range in the last couple of sessions and ended
the week with a loss of over 2 percent.
In Friday's session, although a positive momentum was witnessed
in the broader markets, the banking space had seen some
underperformance and it ended the day on a flat note. However,
in the last three sessions, the index traded in the range of 27136-
27553 and a pullback move was seen as the index approached
the lower end of the range. Overall, if we observe the index, the
near term resistances are seen around 27553 followed by 27775.
However, some of the private sector heavyweights such as ICICI
Bank and Axis Bank are showing signs of strength and hence,
there could be stock specific trading opportunities within the
sector. Thus, traders are advised to be stock specific and trade
with proper risk management strategy. The near-term support is
placed in the range of 27250-27136 whereas resistances are
seen around 27553 and 27775.
Key Levels
Support 1 - 27250
Resistance 1 - 27553
Support 2 - 27136
Resistance 2 -
27775
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Technical & Derivatives Report
September 10, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.64%
Bank Nifty futures open interest has increased by 0.07%
as market closed at 11589.10 levels.
The Nifty September future closed with a premium of
43.85 points against a premium of 30.25 points in last
trading session. The October series closed at a premium
of 77.70 points.
The INDIA VIX has increased from 13.72 to 13.89. At the
same time, the PCR-OI of Nifty has increased from 1.40
to 1.49.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, VEDL, GMRINFRA, TV18BRDCST
and JETAIRWAYS.
Views
FIIs activity in cash market segment remained subdued.
At the same time, they sold worth Rs. 362 crores in index
OI Gainers
futures with rise in open interest, indicating short
OI
PRICE
SCRIP
OI
PRICE
formation on Friday’s trading session
CHG. (%)
CHG. (%)
In options front, they bought marginally of Rs. 109 crores
YESBANK
89192250
24.66
323.40
-4.52
with rise in open interest. As far as Nifty options activities
NESTLEIND
358100
12.89
10446.55
1.03
are considered, except for some build-up in
11900
JUBLFOOD
3394000
10.39
1408.80
-0.64
strike, we saw decent unwinding in 11600-12000 call
GODFRYPHLP
655200
9.73
951.45
4.51
options. On the flip side, 11400-11600 put options
ADANIPORTS
9577500
7.76
377.45
-1.64
added fresh positions. Maximum open interest for
TORNTPOWER
2193000
7.50
269.60
1.94
September series is placed at 11800 followed by 12000
BALKRISIND
3144000
7.32
1170.70
-0.52
call and 11500 followed by 11400 put options.
SBIN
88347000
6.85
291.65
-1.56
We started-off the week on a positive note but sharp
selling pressure was witnessed thereafter. On
Wednesday, we saw decent recovering from the support
OI Losers
zone of 11380-11400 levels and fresh buying interest
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
was seen for next two sessions to eventually conclude the
TORNTPHARM
760500
-8.48
1834.90
0.08
week above 11550. During the week, we hardly saw any
HEROMOTOCO
1482600
-8.02
3329.35
5.10
relevant open interest change in the fall; whereas, good
INDIANB
4684000
-6.47
323.00
2.35
amount of longs were formed in the upmove. In
KPIT
8415000
-5.79
308.05
-0.77
addition, longs formed in last series are also intact in the
CEATLTD
1205050
-4.73
1400.40
2.33
system. We also witnessed massive writing in 11400-
MGL
3229800
-4.32
853.80
0.87
11600 put options along with unwinding in 11600-
CHOLAFIN
882000
-4.23
1439.90
3.25
11700 call strikes for second consecutive session.
Considering the above data points, we expect
AMARAJABAT
1080100
-3.86
815.65
2.03
continuation of recent upmove towards 11800; hence,
traders are advised trading with positive bias.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HEROMOTOCO
33.42
NIFTY
1.49
0.94
M&M
27.75
BANKNIFTY
1.09
0.80
BAJAJ-AUTO
36.96
RELIANCE
0.58
0.49
BHARTIARTL
37.42
ICICIBANK
0.48
0.60
TVSMOTOR
36.16
INFY
0.56
0.39
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Technical & Derivatives Report
September 10, 2018
FII Statistics for September 07, 2018
Turnover on September 07, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2816.76
3178.89
(362.13)
281491
24655.04
1.45
216741
20804.74
-22.38
FUTURES
FUTURES
INDEX
INDEX
83915.58
83806.58
109.00
883638
79533.78
4.21
5097612
527229.60
-74.20
OPTIONS
OPTIONS
STOCK
14759.93
14547.34
212.59
1159958
88424.62
1.73
STOCK
FUTURES
952929
68773.83
6.70
FUTURES
STOCK
STOCK
9139.96
9014.59
125.36
109017
8206.88
6.36
804084
61373.92
16.69
OPTIONS
OPTIONS
Total
110632.22
110547.40
84.82
2434104
200820.32
2.78
TOTAL
7071366
678182.09
-68.99
Nifty Spot = 11589.10
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11600
143.75
Buy
11600
114.85
52.40
47.60
11652.40
32.70
67.30
11567.30
Sell
11700
91.35
Sell
11500
82.15
Buy
11600
143.75
Buy
11600
114.85
90.50
109.50
11690.50
56.95
143.05
11543.05
Sell
11800
53.25
Sell
11400
57.90
Buy
11700
91.35
Buy
11500
82.15
38.10
61.90
11738.10
24.25
75.75
11475.75
Sell
11800
53.25
Sell
11400
57.90
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
September 10, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
370
374
380
383
390
ASIANPAINT
1,303
1,310
1,316
1,323
1,329
AXISBANK
626
636
642
652
658
BAJAJ-AUTO
2,795
2,859
2,896
2,960
2,996
BAJFINANCE
2,644
2,694
2,723
2,773
2,802
BAJAJFINSV
6,447
6,524
6,581
6,658
6,716
BPCL
350
354
357
360
363
BHARTIARTL
361
375
383
398
406
INFRATEL
262
270
275
282
287
CIPLA
650
658
664
671
677
COALINDIA
281
284
286
288
290
DRREDDY
2,509
2,571
2,607
2,669
2,706
EICHERMOT
28,409
28,546
28,747
28,884
29,086
GAIL
362
369
374
382
387
GRASIM
1,005
1,015
1,025
1,035
1,045
HCLTECH
1,054
1,064
1,075
1,085
1,097
HDFCBANK
2,033
2,045
2,053
2,064
2,072
HDFC
1,884
1,902
1,933
1,951
1,981
HEROMOTOCO
3,096
3,212
3,279
3,396
3,462
HINDALCO
229
236
241
248
253
HINDPETRO
249
251
253
255
258
HINDUNILVR
1,584
1,612
1,628
1,655
1,672
IBULHSGFIN
1,191
1,202
1,213
1,224
1,235
ICICIBANK
317
326
331
340
345
IOC
152
152
153
154
155
INDUSINDBK
1,856
1,866
1,876
1,886
1,896
INFY
719
726
731
737
742
ITC
305
308
311
313
316
KOTAKBANK
1,226
1,235
1,248
1,257
1,270
LT
1,333
1,340
1,349
1,356
1,365
LUPIN
887
923
943
979
999
M&M
920
947
962
989
1,005
MARUTI
8,559
8,639
8,714
8,794
8,869
NTPC
164
167
169
171
173
ONGC
169
170
173
174
177
POWERGRID
188
192
196
200
205
RELIANCE
1,245
1,262
1,271
1,288
1,298
SBIN
286
289
292
295
299
SUNPHARMA
628
646
658
676
688
TCS
2,058
2,069
2,076
2,087
2,095
TATAMOTORS
265
271
276
282
286
TATASTEEL
588
603
613
628
638
TECHM
760
766
770
777
781
TITAN
853
860
868
875
883
ULTRACEMCO
4,098
4,183
4,235
4,321
4,373
UPL
695
705
711
721
728
VEDANTA
223
227
230
234
237
WIPRO
315
320
324
329
333
YESBANK
310
316
329
336
348
ZEEL
453
461
469
478
485
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Technical & Derivatives Report
September 10, 2018
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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