www.angelbroking.com
Technical & Derivatives Report
November 11
, 2019
www.angelbroking.com
Sensex (
324
) / Nifty
(1
1908
)
During the last week, trading started with an upside gap owing to
positive cues from the global peers. However, during the
remaining part of the week, we saw index struggling at higher
levels and at the same time, has been reluctant to fall also.
Intraday declines were getting bought and the rallies were
eventually witnessing some profit booking. As a result, the index
got stuck in a small band of 150 180 points with gyration on
both sides. Due to tail end correction on Friday, the Nifty pared
down major chunk of its weekly gains to conclude on a flat note.
As we all know, the benchmark index SENSEX clocked fresh
record highs last week and the Nifty is somehow lagging behind
a bit. Last week, we saw several attempts to go beyond all time
high of 12103.05. But these attempts turned unsuccessful and
with last correction on Friday, we are back to 11900 now. It
appears that traders are a bit cautious whenever Nifty surpassed
the 12000 mark during the day. Looking at Friday’s close, we
need to see how index behaves around 11843. If we see index
sustaining below this key intraday support, we may see this profit
booking getting extended towards 11784 – 11714 levels. In case
of these possible scenarios, we will not consider this as a trend
reversal; rather we construe this as a decent profit booking, which
is essential for every robust rally. We continue to remain sanguine
on the market and expect Nifty to reach new milestones very
soon.
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
30
749
)
In Friday's session, the BankNifty index continued its upmove and
surpassed its swing high resistance of 30800. Post registering
high of 31108, the index gave up some of the gains in the last
one and a half hour and ended the week around 30750.
During last week, some of the Private sector index heavyweights
stocks from the banking space witnessed a good momentum. This
led to some outperformance in the BankNifty and thus, the index
posted weekly gains of 1.38 percent. The near term trend
continues to be positive and hence, traders are advised to avoid
taking any contra trades. The immediate supports for the near
term are placed around 30460 and 30040. In case if the index
witnesses any dips towards the mentioned supports, one should
take it as a buying opportunity. On the higher side, 31000-
31220 is seen as the immediate resistance range for the index.
Key Levels
Support 1 – 30460 Resistance 1 – 31000
Support 2 – 30040 Resistance 2 – 31220
Exhibit 2: Nifty Bank Daily Chart
Although, index did not do much
last
week, there were some
sectoral themes that played out well and marquee names within
these sectors did well for themselves. The Metal and Realty are
clearly amongst them and in the initial part of the week, few
auto-ancillary names too were on a roll. Similarly, we expect
such stock specific moves to continue in this week.
Key Levels
Support 1 – 11843 Resistance 1 – 12000
Support 2 – 11784 Resistance 2 – 12103
www.angelbroking.com
Technical & Derivatives Report
November 11
, 2019
www.angelbroking.com
Nifty Vs OI
Views
We began the week on a cheerful note and saw
extension of previous week’s rally beyond 12000.
During the major part of week, index traded in a range
of 180 points. On Friday, we saw some strength in the
initial part of the day but sharp selling in the second
half wiped-off all the weekly gains to eventually
conclude the week almost flat.
FIIs were net buyers in the cash market segment to the
tune of Rs. 927 cr. In index futures, they bought worth
Rs. 328 crores with a good amount of rise in open
interest, indicating long formation in the previous
trading session.
The banking index outperformed the benchmark index
and managed to close with the gains of 1.27%. We
saw addition of fresh longs in both the indices in the
week gone by and decent amount of the longs formed
in October series are also intact in the system.
BankNifty open interest surged 77% last week. In
addition, put writers have been consistently shifting the
base higher by writing ATM puts. Considering the
overall positions in the system, we expect fresh record
highs very soon and hence, traders are advised using
declines to add on fresh longs.
Comments
The Nifty futures open interest has decreased by 2.28%
Bank Nifty futures open interest has increased 18.60% as
market closed at 11908.15 levels.
The Nifty October future closed with a premium of 37.20
points against a premium of 35.90 points in last trading
session. The November series closed at a premium of
83.10 points.
The INDIA VIX has increased from 15.20 to 15.85.
At the same time, the PCR-OI of Nifty has decreased
from 1.48 to 1.26.
Few of the liquid counters where we have seen high cost
of carry are IDEA, TATAPOWER, CASTROLIND,
GMRINFRA and TATAMTRDVR.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IGL 5112250 61.65 418.15 6.20
BHARATFORG 8187700 19.05 426.70 -9.86
MGL 1855800 18.05 969.60 1.40
SIEMENS 1561450 17.17 1648.45 -1.52
TATAPOWER 71046000 15.82 59.55 1.61
GAIL 48987456 9.61 127.05 -3.66
MFSL 4828900 9.20 481.95 0.39
HINDPETRO 21134400 8.92 293.95 -5.17
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
DLF 35694100 -12.48 203.10 5.05
UBL 2165800 -10.66 1255.35 1.47
TORNTPHARM 293500 -8.99 1814.65 -0.20
INDIGO 3107400 -6.07 1530.00 2.37
MRF 18320 -5.71 64453.15 1.48
LICHSGFIN 9178000 -5.48 439.55 0.09
JINDALSTEL 39728000 -4.49 144.55 -2.69
SRF 886500 -4.37 3139.30 -0.28
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.26 0.87
BANKNIFTY 1.28 0.83
RELIANCE 0.72 0.63
ICICIBANK 0.90 0.62
INFY 0.58 0.56
Historical Volatility
SCRIP HV
BHARATFORG 58.65
IGL 40.90
SUNPHARMA 34.45
VOLTAS 32.33
HINDPETRO 49.50
www.angelbroking.com
Technical & Derivatives Report
November 11
, 2019
www.angelbroking.com
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot
=
1
1908.
15
Lot Size = 75
FII Statistics for
November
0
8
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3668.46 3918.45 (249.99) 190787 16110.80 (0.06)
INDEX
OPTIONS
199717.63 198241.05 1476.58
608601 50477.11 7.76
STOCK
FUTURES
14984.30 14812.21 172.09
1531454 90281.59 0.96
STOCK
OPTIONS
5701.18 5702.93 (1.75) 73752 4324.74 9.30
Total 224071.57
222674.64
1396.93
2404594
161194.24
2.76
Turnover on
November
0
8
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
406416 29729.60 29.55
INDEX
OPTIONS
11323781 821033.87 -70.11
STOCK
FUTURES
1044148 56203.20 14.13
STOCK
OPTIONS
882989 50786.11 12.72
TOTAL 1,36,57,334
957752.78 -66.55
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11900 176.85
52.60 47.40 11952.60
Sell 12000 124.25
Buy 11900 176.85
95.90 104.10 11995.90
Sell 12100 80.95
Buy 12000 124.25
43.30 56.70 12043.30
Sell 12100 80.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11900 132.05
35.15 64.85 11864.85
Sell 11800 96.90
Buy 11900 132.05
61.15 138.85 11838.85
Sell 11700 70.90
Buy 11800 96.90
26.00 74.00 11774.00
Sell 11700 70.90
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
November 11
, 2019
www.angelbroking.com
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 382 384
388 390 393
ASIANPAINT 1,768 1,782
1,804 1,818 1,840
AXISBANK 715 720
728 733 741
BAJAJ-AUTO 3,203 3,224
3,257 3,278 3,310
BAJFINANCE 4,090 4,125
4,182 4,217 4,274
BAJAJFINSV 8,640 8,729
8,840 8,929 9,040
BPCL 491 497
506 512 522
BHARTIARTL 361 365
371 374 380
INFRATEL 208 213
221 226 234
BRITANNIA 3,080 3,119
3,182 3,221 3,285
CIPLA 456 459
465 468 473
COALINDIA 203 206
211 214 219
DRREDDY 2,784 2,803
2,831 2,851 2,879
EICHERMOT 20,793 21,241
21,648 22,097 22,504
GAIL 122 125
128 131 134
GRASIM 761 767
777 783 793
HCLTECH 1,135 1,143
1,154 1,161 1,172
HDFCBANK 1,242 1,249
1,258 1,265 1,274
HDFC 2,191 2,212
2,232 2,253 2,274
HEROMOTOCO 2,609 2,628
2,660 2,679 2,711
HINDALCO 201 202
205 206 209
HINDUNILVR 2,043 2,065
2,105 2,127 2,167
ICICIBANK 473 481
489 497 504
IOC 132 133
135 135 137
INDUSINDBK 1,312 1,368
1,411 1,466 1,509
INFY 694 701
713 720 731
ITC 257 259
262 264 267
JSW STEEL 244 247
252 255 260
KOTAKBANK 1,559 1,580
1,593 1,614 1,627
LT 1,402 1,413
1,430 1,441 1,458
M&M 565 572
584 592 604
MARUTI 7,058 7,129
7,250 7,321 7,441
NESTLEIND 14,089 14,280
14,565 14,756 15,041
NTPC 116 116
118 119 120
ONGC 134 136
140 142 146
POWERGRID 188 190
193 194 197
RELIANCE 1,430 1,438
1,449 1,456 1,467
SBIN 311 313
317 320 324
SUNPHARMA 407 414
428 436 450
TCS 2,082 2,106
2,148 2,172 2,213
TATAMOTORS 161 165
172 176 183
TATASTEEL 389 393
400 404 411
TECHM 766 768
773 776 781
TITAN 1,142 1,150
1,161 1,168 1,180
ULTRACEMCO 4,088 4,117
4,156 4,186 4,225
UPL 539 547
561 569 583
VEDANTA 151 153
157 160 164
WIPRO 253 255
258 260 263
YESBANK 61 65
69 73 77
ZEEL 279 283
289 294 300
www.angelbroking.com
Technical & Derivatives Report
November 11
, 2019
www.angelbroking.com
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cso@angelbroking.com
For Derivatives Queries E-mail: derivatives.d[email protected]angelbroking.com
DISCLAIMER
Angel Broking Limited (hereinafter referred to as Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.