Technical & Derivatives Report
August 13, 2018
Sensex (37869) / Nifty (11429)
Exhibit 1: Nifty Daily Chart
During the last week, trading started with an upside gap as the
set up on the domestic as well as on the global front were quite
conducive for our markets. During the remaining part, index
consolidated by maintaining its positive posture. In fact, there was
one attempt made to clock fresh record highs at new milestone;
but index came off a bit from the kissing distance of 11500 to
conclude the week well above the11400 mark.
Generally, every rally has its own characteristics and we tend to
see some different drivers. The only common factor that must
participate apart from other sectors is the ‘banking’. This time too
banking index proved its significance; but within this basket, the
major contributors this time have been different. Some laggards
like ICICI, Axis and SBI took the complete burden on their
shoulders and before anyone could realize, have managed to
clock handsome gains over the past couple of weeks. When
On the upside, the immediate resistance remains at 11500 -
banking contributes heavily, it not only acts like an impetus but
11520. It’s a matter of time; we will not be surprised to see this
also provides credence to the move. Hence, we still believe that
hurdle crossed to continue this northward journey. For this
further legs to this rally are likely to unfold as we move forward.
week, first half would be quite crucial and hence, one
Yes, after seeing a relentless move, we may see some profit
should keep a close eye on how markets behave around its
taking in between; but eventually these pauses are likely to get
key levels. The ideal strategy would be to have a stock
bought into.
centric approach and follow proper exit strategy.
For this week, if Nifty stays below the key support zone of 11379
Key Levels
- 11359 then we may see this profit booking getting extended
Support 1 - 11379
Resistance 1 - 11500
towards 11300 - 11235. But even if this happens, it would be a
Support 2 - 11359
Resistance 2 - 11520
healthy sign with a broader view and hence, should be construed
as a buying opportunity.
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (28124)
Post opening on a flat note on Friday, the Nifty Bank index
witnessed some corrective action during the day and ended the
session with a loss of 0.69 percent. If we look at the weekly
action, the index has witnessed positive momentum throughout
the week except for Friday, registering gains of more than one
and a half percent.
Post a strong momentum on the previous day, the Nifty Bank
index witnessed a pullback move on Friday led by the index
heavyweights. Amongst the heavyweights, SBI witnessed high
volatility during the last hour of trade post the outcome of its
quarterly results. The daily charts of the index depict a ' Bearish
Engulfing' pattern. Although it is a renowned reversal pattern, we
are of the view that there may be some pullback or consolidation
and not a reversal. The rationale to overlook this reversal pattern
is the strength seen in some the index heavyweights. Hence,
traders should use a 'Buy on dips' strategy rather than going
against the primary trend. The near-term support for the index is
placed around 27955 and 27827 whereas resistance is seen
around 28380.
Key Levels
Support 1 - 27955
Resistance 1 - 28300
Support 2 - 27824
Resistance 2 - 28380
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Technical & Derivatives Report
August 13, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.78%
Bank Nifty futures open interest has decreased by 5.27%
as market closed at 11429.50 levels.
The Nifty August future closed with a premium of 9.75
points against a premium of 16.85 points in last trading
session. The September series closed at a premium of
41.15 points.
The INDIA VIX has increased from 12.67 to 12.85. At the
same time, the PCR-OI of Nifty has decreased from 1.80
to 1.75.
Few of the liquid counters where we have seen high cost
of carry are ADANIPOWER, SOUTHBANK, SUZLON, IFCI
and MGL.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 511 crores. At the same time, they sold worth
CHG. (%)
CHG. (%)
Rs. 223 crores in index futures with marginal change in
JETAIRWAYS
6921600
20.77
276.10
-10.25
open interest, indicating formation of long and short
KPIT
6619500
14.03
289.80
-1.69
positions on Friday's trading session.
GAIL
16916781
13.57
362.95
-3.70
In index options front, they were net buyers of Rs. 179
BERGEPAINT
2241800
13.47
328.20
4.00
crores with rise in open interest. In call options, we saw
UJJIVAN
6292800
13.18
353.35
-5.49
some OI addition in 11500 strike. On the flip side,
PVR
1372800
11.14
1316.05
2.85
expect for 11200 strike we saw some unwinding in
MRF
37600
10.13
74233.95
-2.24
10900-11500 put options. Now, the maximum open
CHENNPETRO
1926000
9.65
341.25
1.15
interest still remains intact in 11500 and 11000 put
options.
Last week, we saw extension of the ongoing rally almost
OI Losers
towards 11500 mark; but traders preferred booking
OI
PRICE
SCRIP
OI
PRICE
profits on Friday to conclude the week above 11400
CHG. (%)
CHG. (%)
PCJEWELLER
9828000
-16.64
101.15
-0.54
mark. Meanwhile, good amount of longs were formed in
TORNTPHARM
478000
-9.47
1697.05
-0.08
Nifty as well as BankNifty Futures. Despite some profit
booking on Friday, we hardly saw any massive
UBL
1794800
-7.60
1204.75
-0.61
unwinding by put writers. At present, 11350-11400 is a
HINDALCO
41989500
-6.91
222.70
-2.43
strong base for Nifty; whereas, 10500-10550 is an
AMARAJABAT
1091300
-6.48
824.60
0.18
important hurdle. Considering the above data points, we
IDFCBANK
142010000
-6.32
43.40
1.05
don’t see major correction from current levels, traders
OFSS
80400
-5.96
3895.30
-1.01
with longs are advised to hold on their positions and any
HCC
37494000
-5.75
12.25
-6.11
dips in the upcoming week shall be an opportunity to
add fresh longs.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
EICHERMOT
37.30
NIFTY
1.75
1.20
JETAIRWAYS
81.33
BANKNIFTY
1.13
1.04
BERGEPAINT
33.02
TATAMOTORS
0.49
0.47
MANAPPURAM
39.14
RELIANCE
1.13
0.79
UJJIVAN
44.24
ICICIBANK
1.32
0.82
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Technical & Derivatives Report
August 13, 2018
FII Statistics for August 10, 2018
Turnover on August 10, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1529.29
1752.62
(223.33)
319940
28032.80
(0.31)
153060
15072.03
5.41
FUTURES
FUTURES
INDEX
INDEX
54569.44
54390.39
179.05
672056
59919.43
2.30
3919877
413377.08
-73.09
OPTIONS
OPTIONS
STOCK
12866.84
12761.99
104.85
1137343
85069.47
0.76
STOCK
FUTURES
892924
63473.72
2.05
FUTURES
STOCK
STOCK
9595.79
9402.28
193.51
133532
10253.27
4.59
803507
62049.03
7.55
OPTIONS
OPTIONS
Total
78561.36
78307.28
254.08
2262871
183274.96
1.28
TOTAL
5769368
553971.86
-66.83
Nifty Spot = 11429.50
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11400
134.20
Buy
11400
97.05
54.60
45.40
11454.60
31.85
68.15
11368.15
Sell
11500
79.60
Sell
11300
65.20
Buy
11400
134.20
Buy
11400
97.05
92.40
107.60
11492.40
53.20
146.80
11346.80
Sell
11600
41.80
Sell
11200
43.85
Buy
11500
79.60
Buy
11300
65.20
37.80
62.20
11537.80
21.35
78.65
11278.65
Sell
11600
41.80
Sell
11200
43.85
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
August 13, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
373
376
379
382
385
ASIANPAINT
1,392
1,405
1,423
1,436
1,453
AXISBANK
604
610
617
623
630
BAJAJ-AUTO
2,585
2,607
2,642
2,665
2,700
BAJFINANCE
2,766
2,787
2,812
2,833
2,859
BAJAJFINSV
6,933
7,009
7,072
7,147
7,210
BPCL
381
391
398
408
414
BHARTIARTL
360
365
370
375
380
INFRATEL
284
287
290
293
296
CIPLA
607
614
621
628
635
COALINDIA
269
272
276
280
283
DRREDDY
2,174
2,194
2,226
2,246
2,277
EICHERMOT
27,081
28,039
28,610
29,568
30,139
GAIL
335
349
367
381
400
GRASIM
948
960
979
990
1,010
HCLTECH
952
959
963
970
975
HDFCBANK
2,086
2,100
2,112
2,126
2,138
HDFC
1,940
1,957
1,969
1,986
1,997
HEROMOTOCO
3,230
3,275
3,307
3,352
3,385
HINDALCO
215
219
224
228
233
HINDPETRO
270
278
285
292
299
HINDUNILVR
1,731
1,742
1,753
1,764
1,775
IBULHSGFIN
1,293
1,309
1,335
1,351
1,377
ICICIBANK
316
323
331
337
346
IOC
161
164
166
169
172
INDUSINDBK
1,944
1,962
1,980
1,998
2,016
INFY
1,367
1,376
1,383
1,392
1,398
ITC
299
302
304
307
310
KOTAKBANK
1,265
1,275
1,282
1,293
1,300
LT
1,241
1,253
1,274
1,286
1,307
LUPIN
793
801
814
823
836
M&M
919
933
943
956
966
MARUTI
9,049
9,099
9,154
9,204
9,259
NTPC
157
158
160
161
163
ONGC
167
168
169
171
172
POWERGRID
186
188
191
193
196
RELIANCE
1,194
1,199
1,207
1,212
1,220
SBIN
285
295
310
320
336
SUNPHARMA
537
545
558
566
578
TCS
1,963
1,978
1,987
2,002
2,012
TATAMOTORS
244
247
253
256
262
TATASTEEL
565
571
578
584
592
TECHM
628
637
643
652
659
TITAN
903
911
922
930
941
ULTRACEMCO
4,167
4,206
4,270
4,310
4,373
UPL
621
629
639
647
657
VEDANTA
215
219
227
231
238
WIPRO
275
277
278
280
282
YESBANK
375
379
385
389
395
ZEEL
507
512
519
523
530
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Technical & Derivatives Report
August 13, 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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