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Technical & Derivatives Report
December 12, 2019
Sensex (
40413
) / Nifty
1910
)
Post opening on a flat note, the Nifty pulled a bit higher upto
11900 in the first hour of the trade. However, the index then
resumed its correction and crept lower to breach the previous
day’s low. Just when the broader markets were witnessing a
selling pressure, the index recovered smartly in the last hour of
the day and rallied to close above the 11900 mark.
Although the index traded in a range in yesterday’s session, the
volatility within the range was high and the pullback move in the
last hour certainly bought some sigh of relief for traders. The
momentum readings on the intraday chart showed a positive
divergence during the day which played out well in the last hour
to pull the indices higher. In last few sessions, market has given
up some of the recent gains. However, this just seem to be a
correction within an uptrend and hence, we continue with our
advised for traders to take this dip as an opportunity to
accumulate stocks for positional trades. For the coming session,
11850-11800 is seen as the immediate support zone whereas;
11960-11980 could be the immediate resistance.
Key Levels
Support 1 – 11850 Resistance 1 – 11960
Support 2 – 11800 Resistance 2 – 11980
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
31257
)
Bank Nifty index too started on a flat note and the rub-off effect
of the previous session pulled the Index to test the 31000 levels.
However, in the last hour, the bank index witnessed a strong
bounce-back along with the broader markets to recover all the
lost ground and in fact to end with gains of 0.30% at 31257.
In our previous outlook, we had mentioned strong support
around 31100-31000 levels and these levels were
successfully defended. The way the index bounced in the last
hour from the key levels hints towards the resumption of the
recent uptrend and hence we continue with our positive bias.
Traders are advised to have a stock-specific approach from the
banking basket as they are likely to provide better trading
opportunities. As far as levels are concerned, immediate support
remains around 31100-31000 levels whereas resistance is
placed around 31450-31600 levels.
Key Levels
Support 1 – 31100 Resistance 1 – 31450
Support 2 – 31000 Resistance 2 – 31600
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
December 12, 2019
Nifty Vs OI
Views
We started-off the day almost flat and saw decent
buying index to bring index towards 11900. As the day
progressed, some profit booking was witnessed from
the higher levels but smart buying in the final hour of
trade bought back the smile on traders. Eventually, we
concluded the day on a positive note with gains of 53
points.
FIIs were net buyers in the cash market segment to the
tune of Rs. 605 crores. In index futures, they sold
marginally with good amount of rise in open interest,
suggesting mixed positions were formed in yesterday’s
trading session.
Despite decent sell-off seen since last week, we haven’t
seen any major short formation in index future
segment. However, in yesterday’s fag end recovery
some long addition was seen in Nifty and in case of
banking index a decent amount of short covering took
place. In the weekly series, we saw call writers of
11900-12300 run for shelter and fresh writing was
seen in 11800-11900 puts. Considering the above
data points, we would advise traders to buy ATM calls
for today’s weekly expiry.
Comments
The Nifty futures open interest has increased by 1.72%
Bank Nifty futures open interest has decreased 6.33% as
market closed at 11910.15 levels.
The Nifty December future closed with a premium of 28
points against a premium of 41.40 points in last trading
session. The January series closed at a premium of
75.55 points.
The INDIA VIX has decreased from 14.29 to 13.37.
At the same time, the PCR-OI of Nifty has increased from
1.17 to 1.21.
Few of the liquid counters where we have seen high cost
of carry are DLF, GMRINFRA, TATAMTRDVR, NBCC and
INDUSINDBK.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
YESBANK 279602400 27.08 42.80 -17.02
UJJIVAN 9934000 12.10 340.45 -1.16
DLF 36237900 9.42 223.35 3.65
NMDC 20022000 8.56 111.65 1.54
POWERGRID 30916000 7.39 181.75 -0.49
TATACHEM 2056500 7.18 649.55 -0.24
L&TFH 27930200 6.97 116.05 1.50
SBIN 108024000 6.39 312.80 -0.29
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
EQUITAS 19339100 -13.28 106.25 -3.27
UNIONBANK 26355000 -8.66 54.40 0.92
TATAELXSI 1039200 -7.23 828.85 -1.35
CONCOR 7085079 -6.67 558.75 0.67
NIITTECH 424500 -5.43 1486.65 2.93
GODREJCP 4592000 -4.87 670.55 3.63
TCS 18513750 -3.34 2041.90 1.38
MGL 2058000 -2.94 1027.70 0.48
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.21 0.83
BANKNIFTY 0.80 0.84
RELIANCE 0.63 0.64
ICICIBANK 0.90 0.79
INFY 0.51 0.40
Historical Volatility
SCRIP HV
MANAPPURAM 41.75
YESBANK 162.17
GAIL 48.28
NTPC 23.92
GODREJCP 36.28
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Technical & Derivatives Report
December 12, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot
=
11
910.
15
Lot Size = 75
FII Statistics for
December
11
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
1692.59 1712.14 (19.55) 165187 13863.97 2.25
INDEX
OPTIONS
219600.75 219758.18 (157.43) 603766 50916.43 2.24
STOCK
FUTURES
7792.59 8074.96 (282.37) 1602883 93876.12 1.36
STOCK
OPTIONS
3685.10 3658.14 26.96
67191 3618.04 8.44
Total 232771.03
233203.42
(432.39) 2439027
162274.56
1.82
Turnover on
December
11
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
252017 18468.95 5.07
INDEX
OPTIONS
17512231 1234509.04 38.31
STOCK
FUTURES
780716 38639.93 5.24
STOCK
OPTIONS
798826 39519.99 8.53
TOTAL 1,93,43,790
1331137.91 35.38
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11900 135.55
48.80 51.20 11948.80
Sell 12000 86.75
Buy 11900 135.55
85.15 114.85 11985.15
Sell 12100 50.40
Buy 12000 86.75
36.35 63.65 12036.35
Sell 12100 50.40
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11900 99.75
33.70 66.30 11866.30
Sell 11800 66.05
Buy 11900 99.75
57.90 142.10 11842.10
Sell 11700 41.85
Buy 11800 66.05
24.20 75.80 11775.80
Sell 11700 41.85
Nifty Put-Call Analysis
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December 12, 2019
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 363 366
369 372 374
ASIANPAINT 1,703 1,720
1,731 1,749 1,759
AXISBANK 703 710
716 723 729
BAJAJ-AUTO 3,200 3,234
3,255 3,289 3,309
BAJFINANCE 3,954 3,996
4,025 4,067 4,096
BAJAJFINSV 8,873 8,976
9,038 9,141 9,203
BPCL 468 475
484 491 499
BHARTIARTL 436 439
444 448 453
INFRATEL 246 250
257 261 267
BRITANNIA 3,011 3,026
3,045 3,060 3,079
CIPLA 444 447
450 453 456
COALINDIA 183 185
187 189 192
DRREDDY 2,852 2,870
2,893 2,911 2,934
EICHERMOT 20,767 21,155
21,389 21,777 22,012
GAIL 108 113
115 120 122
GRASIM 752 760
767 775 782
HCLTECH 534 539
544 549 555
HDFCBANK 1,237 1,243
1,248 1,254 1,260
HDFC 2,279 2,300
2,314 2,336 2,350
HEROMOTOCO 2,220 2,258
2,301 2,339 2,382
HINDALCO 192 194
197 200 202
HINDUNILVR 1,981 1,996
2,013 2,028 2,045
ICICIBANK 524 529
532 537 540
IOC 121 123
125 127 128
INDUSINDBK 1,380 1,401
1,416 1,436 1,452
INFY 709 715
719 725 729
ITC 234 236
237 239 241
JSW STEEL 242 246
250 254 259
KOTAKBANK 1,647 1,667
1,679 1,699 1,711
LT 1,236 1,250
1,269 1,284 1,303
M&M 499 503
507 512 516
MARUTI 6,915 6,954
6,994 7,034 7,074
NESTLEIND 13,931 13,999
14,077 14,145 14,223
NTPC 109 111
112 115 116
ONGC 124 126
127 129 131
POWERGRID 176 179
181 184 186
RELIANCE 1,539 1,551
1,563 1,574 1,586
SBIN 304 309
312 316 320
SUNPHARMA 422 426
429 433 436
TCS 1,991 2,016
2,032 2,058 2,073
TATAMOTORS 155 158
161 164 166
TATASTEEL 397 401
405 409 413
TECHM 734 746
753 765 772
TITAN 1,168 1,174
1,181 1,187 1,195
ULTRACEMCO 3,918 3,959
4,012 4,053 4,106
UPL 547 554
559 566 571
VEDANTA 133 136
139 142 145
WIPRO 235 237
239 242 244
YESBANK 36 39
44 48 53
ZEEL 263 273
279 290 296
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Technical & Derivatives Report
December 12, 2019
*
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.d[email protected]angelbroking.com
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