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Technical & Derivatives Report
November 13, 2019
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Sensex (
40345
(1
1913
)
Most of Asian markets were trading in the red in morning citing
the escalation of violence in Hong Kong. As hinted by the SGX
Nifty, our markets started trading for the week marginally
negative. However, our market did not react much to it and then
traded in a narrow range throughout the day to recover the losses
and end with negligible gains.
In this month so far, Nifty has traded in a narrow range of
11840-12000 wherein we have witnessed more stock specific
momentum within this range. During Monday’s session, the
support end of the range was defended and we witnessed
recovery from the intraday lows to end the session almost flat.
Infact, if we look at the other indices, the Bank Nifty showed good
outperformance as the Private sector banking heavyweights
continued with their last week’s momentum which led the Bank
Nifty index to close well above 31000 mark. Now, coming back
to the Nifty index, it’s been eight trading sessions that the index
has consolidated within the range of 11840-12000. This
consolidation could be termed as a time-correction within an
uptrend as there are no signs of reversal as of now. Usually, such
time correction leads to formation of a support base for the next
leg of upmove. Thus, 11840 is now seen as a crucial support and
if this support is breached, then we could see some profit booking
which could drag Nifty upto 11700-11750. On the flipside, once
this time correction is over, we expect Nifty to resume the
momentum to reach its new highs very soon.
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
31115
)
On Monday, Bank Nifty outperformed as it ended with gains over
a precent well above 31100 levels.
As mentioned above, the bank nifty is in stong positive
momentum as the private sector banking heavyweights are
showing strong performance. The bank index has now closed
above the previous swing high formed in September and the
momentum is likely to continue towards 31450-31680 levels in
the near term. Traders are hence advised to keep positive bias
and use dips as a buying opportunity. Immediate support is now
placed around 30750-30600 levels .
Key Levels
Support 1 – 30750 Resistance 1 – 31450
Support 2 – 30600 Resistance 2 – 31680
Exhibit 2: Nifty Bank Daily Chart
In such phase, traders are advised to avoid taking any contra
trades and rather look for buying opportunities in such stocks
which could outperform in next leg of upmove. The Banking
space has shown a leadership and thus, traders should look
for stock specific opportunities in such sector where one could
generate good returns in short term.
Key Levels
Support 1 – 11840 Resistance 1 – 12000
Support 2 – 11750 Resistance 2 – 12103
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Nifty Vs OI
Views
We began the week slightly lower and saw a range
bound round for the major part of the day. However,
due to some recovery, in the end the index managed to
conclude the session with marginal gains.
FIIs were net buyers in the cash market segment to the
tune of Rs. 664 cr. In index futures, they sold worth
Rs. 491 crores with a rise in open interest, indicating
short formation in the previous trading session.
In the recent rally seen, we saw a good amount of fresh
long formation in both the indices. In Nifty options
front, the put writers are consistently shifting their strike
higher. On Monday, we saw decent unwinding in
11950 and 12050 call options along with fresh writing
in 11700-11900 puts. At present, 11850-11900 is an
immediate support zone and considering recent
development, we anticipate extension recent rally
beyond the lifetime highs very soon. Hence, any
intraday dip shall be an opportunity to buy ATM call
options.
Comments
The Nifty futures open interest has decreased by 2.79%
Bank Nifty futures open interest has increased 12.36% as
market closed at 11913.45 levels.
The Nifty October future closed with a premium of 30.25
points against a premium of 37.20 points in last trading
session. The November series closed at a premium of
73.20 points.
The INDIA VIX has increased from 15.85 to 16.25.
At the same time, the PCR-OI of Nifty has increased from
1.26 to 1.28.
Few of the liquid counters where we have seen high cost
of carry are IDEA, DISHTV, GMRINFRA, NBCC and
TATAPOWER.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ASHOKLEY 81786000 27.43 79.20 3.30
AMARAJABAT 1604600 24.37 717.45 8.88
RBLBANK 13293000 16.75 343.60 5.95
IBULHSGFIN 30034000 11.91 238.55 -1.54
JINDALSTEL 44041600 10.86 150.75 4.42
NMDC 20850000 7.62 103.65 -0.10
BALKRISIND 1672800 7.12 829.05 -2.46
ESCORTS 5242600 6.74 671.55 2.70
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
EQUITAS 9334900 -8.19 90.80 -6.68
UBL 2016700 -6.88 1246.40 -0.62
VOLTAS 2741000 -5.38 687.30 -0.67
BANKBARODA 77528700 -4.77 96.50 3.03
BATAINDIA 2424400 -4.01 1703.75 0.65
CUMMINSIND 1891400 -3.81 559.70 0.42
HEXAWARE 1603500 -3.69 339.35 0.44
BHARATFORG 7911600 -3.37 436.00 2.45
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.28 0.88
BANKNIFTY 1.59 0.83
RELIANCE 0.65 0.79
ICICIBANK 0.98 0.71
INFY 0.57 0.45
Historical Volatility
SCRIP HV
AMARAJABAT 55.17
EQUITAS 55.23
NESTLEIND 27.99
TATAPOWER 40.50
SUNTV 47.88
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Technical & Derivatives Report
November 13, 2019
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot
=
1
1913.45
Lot Size = 75
FII Statistics for
November
11
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
2245.54 2736.52 (490.98) 193629 16261.12 1.49
INDEX
OPTIONS
191363.57 190160.77 1202.80
643742 53129.93 5.77
STOCK
FUTURES
10433.77 10574.31 (140.54) 1539821 90910.71 0.55
STOCK
OPTIONS
4307.68 4382.15 (74.47) 78993 4593.52 7.11
Total 208350.56
207853.75
496.81
2456185
164895.28
2.15
Turnover on
November
11
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
280784 20350.61 -31.55
INDEX
OPTIONS
11328090 814955.96 -0.74
STOCK
FUTURES
749436 38765.84 -31.03
STOCK
OPTIONS
681940 38630.26 -23.94
TOTAL 1,30,40,250
912702.67 -4.70
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11900 165.20
53.25 46.75 11953.25
Sell 12000 111.95
Buy 11900 165.20
94.85 105.15 11994.85
Sell 12100 70.35
Buy 12000 111.95
41.60 58.40 12041.60
Sell 12100 70.35
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11900 122.60
33.05 66.95 11866.95
Sell 11800 89.55
Buy 11900 122.60
57.40 142.60 11842.60
Sell 11700 65.20
Buy 11800 89.55
24.35 75.65 11775.65
Sell 11700 65.20
Nifty Put-Call Analysis
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Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 380 384
387 391 393
ASIANPAINT 1,753 1,763
1,779 1,789 1,805
AXISBANK 716 725
730 739 744
BAJAJ-AUTO 3,204 3,221
3,237 3,254 3,270
BAJFINANCE 4,121 4,144
4,166 4,189 4,211
BAJAJFINSV 8,722 8,819
8,872 8,969 9,022
BPCL 491 504
512 525 532
BHARTIARTL 366 369
371 374 377
INFRATEL 210 216
219 224 227
BRITANNIA 3,058 3,092
3,143 3,177 3,228
CIPLA 448 451
455 459 463
COALINDIA 204 207
209 212 214
DRREDDY 2,780 2,798
2,813 2,830 2,845
EICHERMOT 20,994 21,185
21,502 21,693 22,009
GAIL 123 127
129 132 135
GRASIM 748 758
765 774 781
HCLTECH 1,120 1,133
1,143 1,156 1,167
HDFCBANK 1,243 1,254
1,261 1,272 1,279
HDFC 2,207 2,222
2,231 2,245 2,254
HEROMOTOCO 2,540 2,565
2,611 2,637 2,682
HINDALCO 197 198
201 203 205
HINDUNILVR 2,051 2,065
2,083 2,097 2,115
ICICIBANK 479 488
494 503 508
IOC 133 134
135 136 137
INDUSINDBK 1,388 1,417
1,436 1,464 1,483
INFY 694 698
703 708 712
ITC 257 258
260 261 264
JSW STEEL 246 249
251 254 256
KOTAKBANK 1,582 1,599
1,609 1,627 1,637
LT 1,396 1,406
1,419 1,429 1,441
M&M 560 568
577 585 594
MARUTI 6,986 7,062
7,150 7,225 7,313
NESTLEIND 13,704 13,906
14,253 14,455 14,802
NTPC 115 117
119 121 123
ONGC 135 137
138 140 142
POWERGRID 189 190
192 193 194
RELIANCE 1,410 1,419
1,432 1,441 1,453
SBIN 311 315
317 321 324
SUNPHARMA 401 411
417 428 434
TCS 2,062 2,082
2,110 2,130 2,158
TATAMOTORS 167 170
171 174 175
TATASTEEL 390 395
400 405 409
TECHM 764 767
771 773 777
TITAN 1,126 1,140
1,152 1,166 1,178
ULTRACEMCO 4,069 4,103
4,141 4,175 4,213
UPL 531 541
551 561 571
VEDANTA 150 151
154 155 158
WIPRO 252 254
256 258 260
YESBANK 67 70
72 75 76
ZEEL 277 291
300 314 322
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November 13, 2019
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*
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.[email protected]angelbroking.com
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