www.angelbroking.com
Technical & Derivatives Report
May 11
, 2020
Nifty
look
-
(
19492
)
During the week gone by, the bank index started with a big gap
down opening and then it consolidated in a range for the
remaining part of the week to eventually end with a loss of over
10% against the previous week.
On the daily chart, the bank index broke below the ascending
trend line support but managed to hold minor swing lows at
18800. In our last few reports, we had mentioned the bank index
entering consolidation and this may continue as long it trades
within the range of 18800 – 20300. Traders are advised to keep a
watch on the above levels and to trade in the direction of the
breakout. Also, traders can have a stock specific approach as they
are providing good opportunities on both sides of the trend.
Key Levels
Support 1 – 19000 Resistance 1 – 20000
Support 2 – 18800 Resistance 2 – 20300
Exhibit 1: Nifty Daily Chart
Sensex (31643) / Nifty (9252)
During the previous week, we had some encouraging moves in
the market and in the process, the Nifty took a leap beyond the
9800 mark. However, with US President Donald Trump
threatening China on hiking tariffs over the weekend, spooked
market participants across the globe. As a result, we had a huge
gap down opening on Monday, which was mostly followed by a
consolidation throughout the remaining part of the week.
Eventually, the Nifty ended the week tad above 9200 by shedding
over 6% as compared to the previous weekly close.
Although, it appears to be a sharp cut when compared to previous
week's close, the overall trading action during the week was
muted. In fact, the last couple of trading sessions' price action was
extremely lethargic and the market completely looked
directionless. Neither Bulls had the strength to overcome the
sturdy wall of 9400-9450 nor Bears were dominant enough to
violate the 9100 mark. Hence, for this week, 9450 to 9100 remains
to be an immediate range. Only a sustainable breakout on either
side would confirm the next path of action. Traders holding
existing longs should maintain their positions as long as 9100 is
successfully defended.
Key Levels
Support 1 – 9100 Resistance 1 – 9370
Support 2 – 9000 Resistance 2 – 9450
Exhibit 2: Nifty Bank Daily Chart
At present, traders are advised to stay light and should ideally
continue focusing on individual stocks. Although we are
completely not out of the woods when it comes to Coronavirus
Pandemic, we remain hopeful till the time key support mentioned
is not violated. Once we see Nifty surpassing the higher boundary
of 9450, we would see a good broad-based participation in the
market.
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Technical & Derivatives Report
May 11, 2020
Nifty Vs OI
8400
8600
8800
9000
9200
9400
9600
9800
10000
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
4/15 4/17 4/21 4/23 4/27 4/29 5/4 5/6 5/8
(`000)
Openinterest Nifty
V
iew
s
The indices opened gap down at the start of the week.
The indices then corrected for a couple of sessions and
then consolidated in a range. Nifty eventuall ended the
week with a loss of more than 6% against the previous
week.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1725 crores. In index futures, they bought
worth 329 crores with decrease in open interest
indicating short covering on Friday.
During the week, Nifty witnessed unwinding of open
positions whereas Bank Nifty saw fresh short formation
which led to its under performance. FII’s who started the
series with a ‘Long Short Ratio’ around 64 percent
squared off some of their long positions and formed
fresh shorts. Their ‘Long Short Ratio’ in the index futures
segment now stands at 51 percent. As per the options
data, 9000-9500 is the immediate range for Nifty and
we may see some consolidation within this range with
stock specific momentum. Hence, traders are advised to
take a stock specific approach for this week.
C
o
m
me
n
t
s
The Nifty futures open interest has increased by 0.73%
Bank Nifty futures open interest has increased by 6.49 %
as market closed at 9251.50 levels.
The Nifty May future closed with a discount of 14.85 point
against a premium of 5.2 point in last trading session. The
June series closed at a discount of 6.05 points.
The INDIA VIX has decreased from 39.93 to 38.40
At the same time, the PCR-OI of Nifty increased from 1.15
to 1.32.
Few of the liquid counters where we have seen high cost
of carry are, ZEEL, BEL, ADANIPOWER, BANDHANBNK
and ONGC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
SBILIFE 1242000 25.64 760.05 3.13
TORNTPOWER 2070000 21.69 301.75 -6.49
ZEEL 19757400 17.17 150.65 2.44
HINDUNILVR 22957500 14.36 2089.45 3.51
ASHOKLEY 46973000 14.20 47.05 -2.06
SUNTV 4176000 14.14 378.75 -1.02
NESTLEIND 304500 12.09 17802.85 3.31
TORNTPHARM 943000 8.33 2438.70 3.35
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GMRINFRA 45405000 -11.41 17.65 0.87
APOLLOTYRE 5333000 -7.86 90.10 0.00
RELIANCE 33720000 -7.43 1561.80 3.12
NCC 14529000 -6.76 23.45 0.86
ESCORTS 1774300 -6.49 740.35 -1.48
INFRATEL 8110000 -6.11 174.25 0.29
BHEL 63420200 -6.05 22.20 -4.33
BALKRISIND 629600 -5.86 893.60 -1.04
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.32 0.83
BANKNIFTY 0.78 0.91
RELIANCE 0.96 0.50
ICICIBANK 0.46 0.44
INFY 0.64 0.46
Historical Volatility
SCRIP HV
TORNTPOWER 57.32
RECLTD 65.39
COLPAL 60.56
HINDUNILVR 70.11
RBLBANK 142.94
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Technical & Derivatives Report
May 11, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Spot =
9251.50
FII Statistics for May 08, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
4190.93
3862.16
328.77
103060
6078.42
(2.78)
INDEX
OPTIONS
84483.16
83914.48
568.68
463744
30380.13
8.80
STOCK
FUTURES
12881.39
14411.78
(1530.39) 1523246
74707.24
1.96
STOCK
OPTIONS
3459.40
3442.18
17.22
47853
2415.57
7.22
Total 105014.88
105630.60
(615.72) 2137903
113581.36
3.24
Turnover on May 08, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,76,483 24254.79 -10.40
Index Options 90,35,575 4,59,489.63 -78.81
Stock Futures 8,92,241 45977.91 -0.70
Stock Options 8,22,054 47012.68 23.59
Total 1,12,26,353
5,76,735.01 -74.70
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9300 262.40
47.50 52.50 9347.50
Sell 9400 214.90
Buy 9300 262.40
88.45 111.55 9388.45
Sell 9500 173.95
Buy 9400 214.90
40.95 59.05 9440.95
Sell 9500 173.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9200 280.90
40.50 59.50 9159.50
Sell 9100 240.40
Buy 9200 280.90
77.25 122.75 9122.75
Sell 9000 203.65
Buy 9100 240.40
36.75 63.25 9063.25
Sell 9000 203.65
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700 9800
Call Put
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Technical & Derivatives Report
May 11, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
278
281
284
288
290
ASIANPAINT 1,527 1,553
1,595
1,621
1,663
AXISBANK
361
371
390
401
420
BAJAJ-AUTO 2,374 2,397
2,423
2,446
2,472
BAJFINANCE 1,941 1,983
2,056
2,098
2,171
BAJAJFINSV 4,451 4,526
4,652
4,727
4,853
BPCL
312
319
327
334
343
BHARTIARTL
517
524
535
541
552
INFRATEL
164
169
173
178
182
BRITANNIA 2,871 2,933
2,985
3,047
3,099
CIPLA
583
587
594
599
606
COALINDIA
126
127
130
132
135
DRREDDY 3,773 3,879
4,005
4,111
4,238
EICHERMOT 13,160
13,510
13,920
14,269
14,680
GAIL
88
90
92
94
96
GRASIM
477
482
487
492
497
HCLTECH
494
506
514
526
535
HDFCBANK
914
922
933
940
951
HDFC 1,649 1,669
1,706
1,726
1,763
HEROMOTOCO
1,901
1,932
1,986
2,017
2,071
HINDALCO
112
114
119
121
126
HINDUNILVR 2,012 2,051
2,074
2,113
2,136
ICICIBANK
323
330
341
349
360
IOC
72
73
75
76
78
INDUSINDBK
409
425
451
467
493
INFY
662
668
675
681
687
ITC
153
156
160
163
167
JSW STEEL
162
165
171
174
180
KOTAKBANK 1,192 1,205
1,224
1,237
1,256
LT
795
806
820
831
845
M&M
365
376
392
403
419
MARUTI 4,482 4,568
4,724
4,810
4,965
NESTLEIND 16,990
17,396
17,608
18,015
18,227
NTPC
82
84
88
91
95
ONGC
74
75
76
77
78
POWERGRID
155
157
160
162
164
RELIANCE 1,517 1,539
1,560
1,582
1,602
SHREECEM 18,258
18,495
18,687
18,925
19,117
SBIN
161
164
169
172
177
SUNPHARMA
447
458
465
476
482
TCS 1,853 1,873
1,906
1,927
1,960
TATAMOTORS
78
79
82
84
87
TATASTEEL
264
269
276
281
288
TECHM
512
524
531
543
551
TITAN
810
821
842
853
874
ULTRACEMCO 3,247 3,276
3,301
3,330
3,355
UPL
355
360
368
373
381
VEDANTA
75
76
78
80
82
WIPRO
181
182
184
186
188
ZEEL
142
146
153
157
163
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Technical & Derivatives Report
May 11, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical & Derivatives Queries E-mail: technicalresearc[email protected]
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