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Technical & Derivatives Report
October 10
, 2019
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Sensex (
8178
) / Nifty
(1
313
)
After the mid-week holiday, the Nifty started yesterday’s session
marginally positive. However, it witnessed some selling pressure
in the first hour of the trade and tested the crucial support of
11100. The indices then witnessed buying momentum from this
support and the momentum accelerated as the day progressed to
end with gains of over 180 points.
The Nifty tested the support of 11100 in the first hour of the trade
yesterday. As mentioned in our weekly report, this was the last ray
of hope post the recent sell-off as there was confluence of
supports around this level. This previous breakout zone around
11100 coincided with the 50 days moving average and 200 SMA
on the hourly chart. The market participants took this as an
opportunity which resulted in a broad based buying. Also, many
of the index heavyweights participated in yesterday’s move which
is certainly a positive sign. Yesterday’s low of 11090 now
becomes a support base as a higher bottom can be clearly seen
on the chart. Going ahead, we expect the index to continue the
momentum and till this support is intact, traders should look for
buying opportunities for good returns in short to medium term.
On the higher side, 11400 would be initial resistance to watch
out and a breakout above the same would then provide a
confirmation of resumption of the uptrend and the index could
then approach 11550-11600 range very soon.
Key Levels
Support 1 – 11240 Resistance 1 – 11400
Support 2 – 11090 Resistance 2 – 11550
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
2
8786
)
Yesterday, Bank Nifty too started with marginal positive opening
and after an initial dip witnessed a strong up move throughout
the session to end with gains of 3.67% at 28786.
In the last few sessions, we have been mentioning strong support
for Bank Index around 27530 and after holding the same we
witnessed an outperforming up move in the Banking space. The
up-move was supported with broad-based buying with private as
well as PSU banks participated in the rally. Going ahead, we
expect the optimism to continue and dips should be taken as a
buying opportunity. As far as levels are concerned, immediate
support is placed around 28450 - 28120 whereas resistance is
placed around 29180-29500 levels.
Key Levels
Support 1 – 28450 Resistance 1 – 29180
Support 2 – 28120 Resistance 2 – 29500
Exhibit 2: Nifty Bank Daily Chart
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Nifty Vs OI
Views
We began yesterday’s session on a positive note but
saw follow-up selling in the initial hour of trade to drag
index below 11100 mark. However, once again we
witnessed some buying interest from the support zone
to recover all of the losses. The saw a sharp short-
covering rally of 1.68% on the closing.
FIIs were net sellers in the cash market segment to the
tune of Rs. 485 cr. In index futures, they sold worth Rs.
167 crores with good amount of fall in open interest,
indicating a blend of short covering along with some
profit booking
In the index futures segment, we witnessed agood
amount of short addition; especially in the banking
index wherein openinterest surged up nearly 73% last
week. Considering the price action, webelieve the
majority of the positions formed were on the short
side. Since the last two sessions, 11100 has been
acting as a sheet anchor and yesterday we didsaw a
sharp short-covering rally as we were in oversold
trajectory. Suchdevelopment at the crucial support zone
is indeed a good indication; hence,traders are using
decline to add fresh longs now.
Comments
The Nifty futures open interest has decreased by 5.67%
Bank Nifty futures open interest has decreased 5.15% as
market closed at 11313.30 levels.
The Nifty October future closed with a premium of 34.40
points against a premium of 35.60 points in last trading
session. The November series closed at a premium of
82.90 points.
The INDIA VIX has decreased from 17.83 to 17.15.
At the same time, the PCR-OI of Nifty has increased from
0.96 to 1.20.
Few of the liquid counters where we have seen high cost
of carry are IDEA, DISHTV, TATAMTRDVR, BHEL and
DLF.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NATIONALUM 51360000 19.75 44.90 -0.81
SIEMENS 1560350 17.72 1588.20 4.27
MUTHOOTFIN 1885500 15.00 686.10 2.62
CHOLAFIN 2937500 14.52 296.20 2.50
BERGEPAINT 6001600 14.48 449.90 3.10
ESCORTS 5585800 12.49 608.00 1.47
IDEA 604828000 10.58 5.85 14.56
JUSTDIAL 2633400 9.55 627.85 4.48
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CENTURYTEX 1943400 -34.58 924.30 7.48
ICICIBANK 75113500 -8.92 436.70 4.71
RECLTD 27114000 -8.34 124.95 1.62
YESBANK 179973200 -6.78 43.25 -4.92
CANBK 12642000 -6.20 184.25 2.98
UPL 14372100 -5.54 581.70 0.19
SBIN 117342000 -4.63 260.95 4.76
ZEEL 31175300 -4.56 245.95 -2.12
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.20 0.84
BANKNIFTY 1.13 0.81
RELIANCE 0.86 0.62
ICICIBANK 0.58 0.48
INFY 1.19 0.84
Historical Volatility
SCRIP HV
CENTURYTEX 55.10
TATAELXSI 50.66
TORNTPHARM 32.07
INFRATEL 35.34
CADILAHC 39.09
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Technical & Derivatives Report
October 10
, 2019
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (October Series) are given as an information and not as a recommendation.
Nifty Spot
=
11
313.30
Lot Size = 75
FII Statistics for
October
09
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
4593.82 4760.61 (166.79) 150869 12167.42 (7.78)
INDEX
OPTIONS
328965.87 328746.25 219.62
743677 57914.51 6.24
STOCK
FUTURES
14231.74 13328.34 903.40
1539513 89177.09 (1.07)
STOCK
OPTIONS
5294.36 5349.47 (55.11) 67593 3676.95 9.38
Total 353085.79
352184.67
901.12
2501652
162935.97
0.81
Turnover on
October
09
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
485220 32616.92 38.33
INDEX
OPTIONS
21833214 1436533.42 86.51
STOCK
FUTURES
916594 48856.74 19.60
STOCK
OPTIONS
700607 40074.59 25.18
TOTAL 2,39,35,635
1558081.67 79.78
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11300 206.30
51.70 48.30 11351.70
Sell 11400 154.60
Buy 11300 206.30
95.55 104.45 11395.55
Sell 11500 110.75
Buy 11400 154.60
43.85 56.15 11443.85
Sell 11500 110.75
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11300 158.00
37.35 62.65 11262.65
Sell 11200 120.65
Buy 11300 158.00
65.35 134.65 11234.65
Sell 11100 92.65
Buy 11200 120.65
28.00 72.00 11172.00
Sell 11100 92.65
Nifty Put-Call Analysis
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October 10
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Da
ily
P
ivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 387 393
398 405 409
ASIANPAINT 1,705 1,737
1,758 1,789 1,810
AXISBANK 655 671
680 696 705
BAJAJ-AUTO 2,854 2,867
2,891 2,904 2,928
BAJFINANCE 3,825 3,924
3,980 4,079 4,135
BAJAJFINSV 8,107 8,213
8,281 8,387 8,455
BPCL 476 484
490 499 504
BHARTIARTL 331 345
353 367 375
INFRATEL 237 247
254 263 270
BRITANNIA 2,873 2,966
3,021 3,114 3,168
CIPLA 400 411
419 431 439
COALINDIA 181 184
185 187 189
DRREDDY 2,568 2,612
2,644 2,688 2,720
EICHERMOT 17,657 17,948
18,124 18,415 18,591
GAIL 127 129
131 134 135
GRASIM 629 650
664 685 699
HCLTECH 1,021 1,036
1,055 1,070 1,089
HDFCBANK 1,176 1,202
1,216 1,242 1,256
HDFC 1,950 1,976
1,990 2,017 2,031
HEROMOTOCO 2,519 2,562
2,626 2,669 2,733
HINDALCO 178 182
185 189 191
HINDUNILVR 1,929 1,939
1,951 1,960 1,972
ICICIBANK 409 423
431 444 452
IOC 145 147
148 150 151
INDUSINDBK 1,204 1,257
1,288 1,340 1,371
INFY 769 776
786 793 803
ITC 243 245
249 251 254
JSW STEEL 203 208
211 216 219
KOTAKBANK 1,516 1,564
1,596 1,644 1,676
LT 1,385 1,406
1,420 1,440 1,454
M&M 541 559
569 586 597
MARUTI 6,531 6,625
6,684 6,779 6,838
NESTLEIND 13,345 13,581
13,745 13,981 14,145
NTPC 114 116
117 118 119
ONGC 123 124
126 127 129
POWERGRID 194 196
197 199 201
RELIANCE 1,280 1,304
1,317 1,342 1,355
SBIN 238 250
256 268 274
SUNPHARMA 368 376
382 390 396
TCS 1,988 2,005
2,032 2,049 2,077
TATAMOTORS 113 117
119 123 126
TATASTEEL 314 326
332 344 350
TECHM 697 704
709 716 721
TITAN 1,155 1,193
1,215 1,252 1,274
ULTRACEMCO 3,803 3,931
3,996 4,124 4,189
UPL 569 575
580 586 591
VEDANTA 139 143
145 148 150
WIPRO 235 236
238 240 241
YESBANK 39 41
43 46 48
ZEEL 231 238
248 255 265
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Technical & Derivatives Report
October 10
, 2019
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*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]elbroking.com
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