Technical & Derivatives Report
December 12, 2018
Sensex (35150) / Nifty (10549)
Exhibit 1: Nifty Daily Chart
Yesterday was certainly an eventful day for our markets and
importantly, whatever action happened pre and post market
opening, it was only on the domestic factors. The exit poll
numbers and RBI Governor’s Resignation which was announced
on Monday evening had an adverse effect on yesterday’s
opening. We started proceedings significantly lower; but index
did not extend this weakness. In fact, a good broad based buying
throughout the remaining part of the day trimmed complete
losses to conclude the day with gains of nearly six tenths of a
percent.
Keeping all developments aside if we just have to analyze the
price action, one would interpret this as a promising day for our
markets. Yesterday’s low precisely coincides with the
61.8%
Fibonacci retracement of the recent up move. In addition, the
other heavyweight index (Bank Nifty) managed to reclaim its
position above the 200-day SMA, which certainly bodes well for
the bulls. But the highlight of yesterday’s trading action was the
smart rally in ‘Midcap’ index. We saw sheer outperformance from
this basket right from the word go and eventually it went on to
close with a good two percent gains. Considering all these
evidences, we will not be surprised to see this rally extending
towards 10620 - 10704 over the next few sessions. However,
since lot of events hovering around us, one need to be very
watchful and should ideally stay light on positions.
For the coming session, 10567 should be seen as a key
resistance and a sustainable move beyond this would extend the
move towards above mentioned resistance levels. On the
downside, 10494 and 10450 are likely to provide some support.
Key Levels
Support 1 - 10494
Resistance 1 -
10567
Support 2 - 10450
Resistance 2 -
10620
Nifty Bank Outlook - (26163)
Exhibit 2: Nifty Bank Daily Chart
Post the overnight news of the surprise resignation of the RBI
Governor Mr. Urjit Patel, the Nifty Bank index opened yesterday's
session with a huge downside gap. However, the impact was seen
only on opening ticks as the index started recovering higher along
with the broader markets. As the day progressed, the momentum
accelerated and the index erased all the opening losses to end
with marginal gains. Yesterday's move was certainly encouraging
as a broad based recovery was seen. Also, yesterday's low is
around the 61.8% retracement of the recent up move. Yesterday's
downside gap, which was entirely filled in intraday could be
termed as an exhaustion gap, which usually restricts downside in
short term. Hence, traders are advised to trader with the positive
momentum but with a proper risk management and an exit
strategy.
Key Levels
Support 1 - 25947
Resistance 1 -
26450
Support 2 - 25800
Resistance 2 -
26705
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Technical & Derivatives Report
December 12, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.45%.
Bank Nifty futures open interest has increased by 6.23%
as market closed at 10549.15 levels.
The Nifty December future closed with a premium of
31.95 points against a premium of 26.25 points in last
trading session. The January series closed at a premium
of 77.70 points.
The INDIA VIX has decreased from 20.43 to 17.94.
At the same time, the PCR-OI of Nifty has increased from
1.30 to 1.33.
Few of the liquid counters where we have seen high cost
of carry are ADANIPOWER, ADANIENT, GMRINFRA,
SOUTHBANK and SUZLON.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 2421 crores. In index futures segment, they sold of
CHG. (%)
CHG. (%)
CHOLAFIN
708000
20.92
1189.60
-0.51
Rs. 636 crores with fall in open interest, indicating long
SRF
580500
13.82
2131.50
3.56
unwinding and some short formation took place in
yesterday’s trading session.
COLPAL
1326500
13.47
1243.90
3.14
In options front, they bought marginally with good
BATAINDIA
1902450
11.98
1071.55
5.10
amount of rise in open interest. As far as Nifty options
RELINFRA
9018100
10.57
292.65
-1.87
activities are considered,
10400-10600 call options
REPCOHOME
1543300
10.24
328.05
0.89
added fresh positions; followed by unwinding in 10700
JETAIRWAYS
5651600
9.83
251.35
-0.99
and 10800 strikes. On the flip side, we saw good
TORNTPOWER
2568000
9.18
246.35
0.63
amount of build-up in 10000-10400 put options. Now,
Maximum open interest for December series now stands
at 11000 call and 10000 put options.
OI Losers
Yesterday, market opened with the downside gap on
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
account of Urjit Patel’s resignation as an RBI Governor.
BOSCHLTD
156480
-11.28
19105.55
3.04
Index corrected below 10350 mark in the early morning
AMARAJABAT
1225700
-10.48
718.90
3.05
trade but soon removed to surpass 10500 on the closing
GODFRYPHLP
459900
-8.75
889.95
2.55
basis. We hardly saw any relevant OI addition in Nifty;
L&TFH
19125000
-8.64
137.50
3.14
however, some unwinding took place in the banking
NIITTECH
1730250
-7.16
1107.70
4.43
index. At present, we have still uncertainty around which
COALINDIA
47295600
-5.54
242.10
1.59
may also surge volatility in our market; hence, traders
DCBBANK
4338000
-5.12
153.30
1.92
are advised to stay light and adopt stock centric
HEXAWARE
3432000
-5.02
332.00
4.83
approach for the time being.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
BATAINDIA
46.98
NIFTY
1.33
0.89
MFSL
63.13
BANKNIFTY
1.14
0.85
HEXAWARE
42.29
RELIANCE
0.58
0.58
GLENMARK
43.17
ICICIBANK
0.46
0.50
MRF
27.40
INFY
1.31
0.58
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Technical & Derivatives Report
December 12, 2018
FII Statistics for December 11, 2018
Turnover on December 11, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4270.68
4906.63
(635.95)
342376
25849.79
(0.46)
516773
33843.61
99.83
FUTURES
FUTURES
INDEX
INDEX
192211.45
192167.77
43.69
856835
61029.27
11.25
18723569
1087242.13
183.35
OPTIONS
OPTIONS
STOCK
15614.35
14942.35
672.01
1474521
83406.86
(0.01)
STOCK
FUTURES
943613
52561.19
24.39
FUTURES
STOCK
STOCK
9766.10
9771.98
(5.88)
135933
7441.89
5.62
779211
45792.09
24.07
OPTIONS
OPTIONS
Total
221862.59
221788.72
73.86
2809665
177727.82
3.39
TOTAL
74455
700968
154.15
Nifty Spot = 10549.15
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10500
192.45
Buy
10500
117.00
59.15
40.85
10559.15
29.30
70.70
10470.70
Sell
10600
133.30
Sell
10400
87.70
Buy
10500
192.45
Buy
10500
117.00
106.80
93.20
10606.80
52.65
147.35
10447.35
Sell
10700
85.65
Sell
10300
64.35
Buy
10600
133.30
Buy
10400
87.70
47.65
52.35
10647.65
23.35
76.65
10376.65
Sell
10700
85.65
Sell
10300
64.35
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 12, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
339
347
355
364
372
ASIANPAINT
1,220
1,272
1,304
1,356
1,388
AXISBANK
564
584
600
620
637
BAJAJ-AUTO
2,653
2,696
2,728
2,771
2,803
BAJFINANCE
2,287
2,357
2,402
2,471
2,516
BAJAJFINSV
5,527
5,677
5,773
5,924
6,020
BPCL
318
322
326
331
335
BHARTIARTL
276
283
289
296
301
INFRATEL
241
247
252
258
263
CIPLA
494
506
515
527
536
COALINDIA
230
236
240
246
250
DRREDDY
2,627
2,672
2,711
2,755
2,795
EICHERMOT
21,436
22,038
22,402
23,004
23,368
GAIL
327
330
333
335
338
GRASIM
764
782
793
812
823
HCLTECH
916
937
951
971
985
HDFCBANK
2,015
2,037
2,054
2,077
2,094
HDFC
1,834
1,869
1,891
1,927
1,948
HEROMOTOCO
2,947
2,993
3,028
3,074
3,108
HINDALCO
212
214
216
218
221
HINDPETRO
212
216
221
225
230
HINDUNILVR
1,745
1,770
1,795
1,820
1,845
IBULHSGFIN
643
668
690
715
736
ICICIBANK
332
338
341
347
350
IOC
127
130
132
134
136
INDUSINDBK
1,441
1,497
1,531
1,587
1,621
INFY
651
663
672
684
694
ITC
265
270
273
278
281
JSW STEEL
280
290
297
307
314
KOTAKBANK
1,142
1,180
1,210
1,248
1,278
LT
1,332
1,347
1,358
1,373
1,385
M&M
680
701
715
737
751
MARUTI
7,159
7,232
7,289
7,362
7,419
NTPC
132
135
136
139
140
ONGC
133
136
137
140
141
POWERGRID
175
178
180
182
184
RELIANCE
1,038
1,068
1,085
1,115
1,132
SBIN
263
272
278
287
293
SUNPHARMA
378
400
413
435
447
TCS
1,941
1,971
1,990
2,020
2,039
TATAMOTORS
153
155
157
160
162
TATASTEEL
479
490
497
508
514
TECHM
673
684
696
708
720
TITAN
879
906
921
949
964
ULTRACEMCO
3,661
3,767
3,832
3,938
4,003
UPL
724
736
743
756
763
VEDANTA
188
191
193
196
198
WIPRO
320
324
329
333
338
YESBANK
158
168
174
184
190
ZEEL
456
467
475
486
494
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Technical & Derivatives Report
December 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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