Technical & Derivatives Report
September 12, 2018
Sensex (37413) / Nifty (11287)
Exhibit 1: Nifty Daily Chart
Post a sharp sell-off of about 150 points on Monday, our market
opened yesterday's session marginally higher. Although, it was
just the opening ticks that were on a positive note as the index
then continued its previous day's momentum. The index corrected
up to the support of 11400 and consolidated around the same
for the most part of the day. However, the bears had the upper
hand yesterday too and the mentioned support was taken out in
the last one and half hour of trade. The sell-off accelerated in the
last hour and the index corrected further to end the session below
11300, a cut of another 150 points.
The Nifty index has been correcting since the start of this month
and it has now retraced 38.2% of its previous up move from
10558-11760. While the larger degree trend considers such
retracements as just a pullback move, the velocity of the down
move in the last couple of sessions has certainly created fear
amongst the trader's fraternity. Also, after yesterday's move, the
index has formed a 'Lower Top Lower Bottom' structure on the
daily chart after a long period of time, which is certainly not a
positive sign for short term. The index has ended the session in
the vicinity of the retracement support range from where we
usually see the pullback moves. Hence, there is a higher
probability of a pullback move here on which could provide relief
to the oversold momentum setups. However, considering the
above-mentioned rationale, swing traders are advised to stay
light on positions as the volatility too could be on the high. In
case the index continues the downward move here on, then the
near-term supports for the index would be seen around 11236
and 11170 whereas resistances on pullback moves could be seen
around 11390 and 11480.
Key Levels
Support 1 - 11236
Resistance 1 -
11390
Support 2 - 11170
Resistance 2 -
11480
Nifty Bank Outlook - (26807)
Exhibit 2: Nifty Bank Daily Chart
Post opening on a flat note, the Nifty Bank Index traded within a
very narrow range for the most part of session however in the
second half it slipped below its last few sessions support zone at
27136 and witnessed a sharp selloff to end the day with a loss of
1.45% tad above 26800 levels. In our last few articles we have
been mentioning that the Index is trading within the range of
27553 - 27136 and finally after breaking below the lower range
we witnessed a sharp selloff yesterday. The momentum of fall was
so sharp that the Bank Index has closed below the 89EMA and
61.8% retracement of recent rally (26060 - 28378). Technically,
we sense the Index may continue to slide towards its next support
at 26550-26600 levels. On the flip side, previous support around
27000 - 27136 levels will now act as strong resistance zone.
Traders are advised to keep positions light and avoid undue risk.
Key Levels
Support 1 - 26600
Resistance 1 -
27000
Support 2 - 26550
Resistance 2 -
27136
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Technical & Derivatives Report
September 12, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.80%
Bank Nifty futures open interest has increased by 9.53%
as market closed at 11287.50 levels.
The Nifty September future closed with a premium of
48.75 points against a premium of 54.60 points in last
trading session. The October series closed at a premium
of 89.20 points.
The INDIA VIX has increased from 15.20 to 15.33. At the
same time, the PCR-OI of Nifty has decreased from 1.33
to 1.25.
Few of the liquid counters where we have seen high cost
of carry are BALRAMCHIN, INFIBEAM, UPL, SUZLON
and CESC.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 1454 crores. At the same time, they sold worth
CHG. (%)
CHG. (%)
Rs. 1676 crores in index futures with rise in open interest,
GODREJCP
2906400
11.54
1248.25
-3.89
indicating short formation in yesterday’s trading session
MUTHOOTFIN
3436500
8.32
436.95
-3.53
In options front, they bought worth Rs. 778 crores with
DCBBANK
4756500
8.08
168.40
-0.71
rise in open interest. As far as Nifty options activities are
VOLTAS
4232000
4.65
575.60
-1.58
considered,
11300-11600 call options added good
HDFCBANK
19070000
4.55
2000.40
-2.04
amount of positions; followed by unwinding in 11700
KOTAKBANK
12345600
4.53
1206.40
-1.40
strike. On the flip side, some build-up was seen in
TITAN
16304250
4.50
820.75
-4.20
10900-11200 put options and 11300-11600 strikes
SIEMENS
1648000
4.47
954.45
-2.27
sheds decent positions. Maximum open interest for
September series is placed at 11800 followed by 11600
call and 11400 followed by 11000 put options.
OI Losers
Monday’s pain continued to correct yet another 150
OI
PRICE
SCRIP
OI
PRICE
points. Index tumbles below the important support of
CHG. (%)
CHG. (%)
11400 mark and concluded the session tad below
BALRAMCHIN
10052000
-9.97
76.20
-4.14
11300. Despite strong selling pressure, we hardly saw
NIITTECH
1236750
-9.50
1319.70
-5.84
any relevant open interest change in Nifty futures;
ANDHRABANK
17888000
-7.09
30.90
0.00
however, banking index added decent shorts. At the
BALKRISIND
2898400
-5.58
1138.35
-2.38
same time, good amount of longs formed in Nifty earlier
INDIANB
4268000
-5.49
319.05
-0.44
are still in system. Going ahead, 11250-11300 is the
CANBK
11270000
-5.42
262.75
-0.85
support zone for index; whereas, the previous support of
MINDTREE
4044000
-5.31
1161.30
0.72
around 11400 shall now act as an immediate hurdle.
SRF
968500
-5.23
1941.70
-0.86
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
PFC
66.71
NIFTY
1.25
0.82
NIITTECH
47.21
BANKNIFTY
0.58
0.80
AJANTPHARM
46.59
RELIANCE
0.50
0.72
HDFCBANK
15.95
ICICIBANK
0.44
0.69
ITC
26.03
INFY
0.57
0.46
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Technical & Derivatives Report
September 12, 2018
FII Statistics for September 11, 2018
Turnover on September 11, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2943.47
4619.57
(1676.10)
303939
25947.97
2.48
264734
25224.46
12.45
FUTURES
FUTURES
INDEX
INDEX
152196.32
151416.41
779.91
976293
85596.93
2.96
10686093
1123695.74
69.89
OPTIONS
OPTIONS
STOCK
12829.09
13189.59
(360.50)
1183785
87308.46
0.79
STOCK
FUTURES
825243
59621.93
-2.78
FUTURES
STOCK
STOCK
9274.14
9262.39
11.75
119439
8789.10
0.84
695384
54393.00
-3.39
OPTIONS
OPTIONS
Total
177243.02
178487.96
(1244.94)
2583456
207642.46
1.80
TOTAL
12471454
1262935.13
57.57
Nifty Spot = 11287.50
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11300
149.65
Buy
11300
117.65
51.00
49.00
11351.00
35.00
65.00
11265.00
Sell
11400
98.65
Sell
11200
82.65
Buy
11300
149.65
Buy
11300
117.65
87.50
112.50
11387.50
59.75
140.25
11240.25
Sell
11500
62.15
Sell
11100
57.90
Buy
11400
98.65
Buy
11200
82.65
36.50
63.50
11436.50
24.75
75.25
11175.25
Sell
11500
62.15
Sell
11100
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 12, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
354
359
369
374
383
ASIANPAINT
1,273
1,285
1,299
1,312
1,326
AXISBANK
636
643
654
661
673
BAJAJ-AUTO
2,775
2,804
2,855
2,884
2,934
BAJFINANCE
2,504
2,552
2,611
2,659
2,717
BAJAJFINSV
6,137
6,250
6,364
6,477
6,592
BPCL
329
334
341
346
353
BHARTIARTL
368
373
383
388
398
INFRATEL
264
267
272
275
280
CIPLA
636
645
660
670
685
COALINDIA
270
277
282
289
295
DRREDDY
2,460
2,492
2,539
2,572
2,619
EICHERMOT
27,504
27,787
28,233
28,516
28,963
GAIL
361
367
374
380
387
GRASIM
976
990
1,008
1,021
1,039
HCLTECH
1,072
1,078
1,089
1,095
1,106
HDFCBANK
1,960
1,980
2,014
2,034
2,068
HDFC
1,842
1,855
1,874
1,887
1,906
HEROMOTOCO
3,092
3,138
3,216
3,262
3,340
HINDALCO
222
227
234
239
246
HINDPETRO
237
240
247
250
257
HINDUNILVR
1,549
1,570
1,597
1,618
1,645
IBULHSGFIN
1,095
1,113
1,142
1,160
1,189
ICICIBANK
318
322
329
334
341
IOC
149
150
151
152
154
INDUSINDBK
1,798
1,812
1,834
1,848
1,869
INFY
724
729
737
742
750
ITC
289
293
300
304
311
KOTAKBANK
1,189
1,198
1,213
1,221
1,237
LT
1,314
1,322
1,335
1,343
1,356
LUPIN
918
929
944
955
971
M&M
922
933
947
957
972
MARUTI
8,345
8,431
8,566
8,651
8,786
NTPC
167
168
170
171
173
ONGC
166
167
168
169
171
POWERGRID
181
184
189
192
198
RELIANCE
1,213
1,225
1,247
1,259
1,281
SBIN
275
279
285
289
295
SUNPHARMA
614
622
636
644
658
TCS
2,012
2,029
2,059
2,076
2,106
TATAMOTORS
257
262
271
276
284
TATASTEEL
571
581
599
610
628
TECHM
718
733
753
768
789
TITAN
787
804
832
849
878
ULTRACEMCO
4,029
4,068
4,128
4,167
4,227
UPL
662
675
695
708
728
VEDANTA
212
216
222
225
231
WIPRO
320
322
325
327
330
YESBANK
306
312
320
325
333
ZEEL
446
456
468
478
490
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Technical & Derivatives Report
September 12, 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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