Technical & Derivatives Report
September 14, 2018
Sensex (37718) / Nifty (11370)
Exhibit 1: Nifty Daily Chart
After witnessing some terrifying moves for two days, our
benchmark started the day with a bump up of nearly 50 points.
However, it was merely a formality as we immediately came
across an ‘Open High’ kind of situation and within no time, all
opening gains just disappeared. In fact, the pressure aggravated
in the first half when USDINR hastened towards the 73 mark.
Fortunately, the currency cooled off from this crucial junction by
nearly a percent; leading to a v-shaped recovery in equity
markets during the latter half of the day.
The weakening in Indian Rupee had some intimidated reaction
on our markets, which is quite evident and on Wednesday, some
respite in the losing streak brought back some smiles on the
traders’ fraternity. The relief move was contributed by almost all
pockets, which is an encouraging sign. Now, if we look at the
daily chart of Nifty, we can see yet another ‘Bullish Hammer’
As we highlighted, the recovery was clearly driven by the
pattern around the important support levels. Going ahead, it
broader participation and hence, there were so many pockets
would be crucial to have couple of sessions with strong follow up
that had shown some encouraging moves. But, in our sense,
buying. The immediate resistance zone would be seen at 11450
the recovery in ‘Midcap’ index was stupendous and hence,
- 11500; but in order to gain further strength, the Nifty needs to
going ahead, we may see this basket providing some better
surpass the higher end of this range with an authority. Since,
opportunities.
directionally we still do not see any weakness, our inclination is
more on the positive side and hence, we are trying to draw these
bullish scenarios. But, mind you, if all these requirements met, we
Key Levels
would then be able to see a strong upside in the market. On the
Support 1 - 11322
Resistance 1 -
11450
downside, 11322 followed by 11250 are now seen as important
Support 2 - 11250
Resistance 2 -
11500
support levels.
Nifty Bank Outlook - (26819)
Exhibit 2: Nifty Bank Daily Chart
Post opening marginally higher, the Nifty Bank index once again
continued the negative momentum and corrected during the first
half of the session. The momentum readings on the hourly chart
were in oversold territory as the index approached the support
around 26550. This led to a pullback move in the latter half of
the session and the index recovered all the losses to end the day
on a flat note.
On the daily chart, Wednesday's price action has led to formation
of a 'Hammer' pattern at the 38.2% retracement support of the up
move from March low of 23605 to the recent high of 28389.
Formation of such pattern at important support usually leads to a
reversal and hence, there is a probability of a pullback move in
near term if the index crosses the Wednesday's high of 26895.
On the flipside, the low of 26555 would now be seen as a short-
term support. However, unless we see a broad market
participation, traders should be very stock specific and trade with
a proper exit strategy.
Key Levels
Support 1 - 26600
Resistance 1 -
26895
Support 2 - 26555
Resistance 2 - 27000
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Technical & Derivatives Report
September 14, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.48%
Bank Nifty futures open interest has increased by 1.59%
as market closed at 11369.90 levels.
The Nifty September future closed with a premium of
47.45 points against a premium of 48.75 points in last
trading session. The October series closed at a premium
of 87.05 points.
The INDIA VIX has decreased from 15.33 to 14.25. At
the same time, the PCR-OI of Nifty has increased from
1.25 to 1.29.
Few of the liquid counters where we have seen high cost
of carry are RCOM, GMRINFRA, NHPC, SHREECEM and
IDBI.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 1086 crores. At the same time, they sold worth
CHG. (%)
CHG. (%)
Rs. 391 crores in index futures with fall in open interest,
BALRAMCHIN
11865000
18.04
78.00
2.88
indicating long unwinding took place on Wednesday’s
REPCOHOME
945000
13.51
514.85
-4.77
trading session
BATAINDIA
1643400
10.42
1037.55
1.73
In options front, they bought worth Rs. 819 crores with
HEROMOTOCO
1612800
9.00
3163.75
-0.74
fall in open interest. As far as Nifty options activities are
BANKBARODA
67512000
7.40
133.55
-4.78
considered,
11400-11450 call options added fresh
M&MFIN
10662500
7.36
425.75
-2.88
positions; followed by unwinding in
11500-11600
PCJEWELLER
10564500
7.26
81.80
-2.98
strikes. On the flip side, some build-up was seen in
PVR
844800
7.21
1391.55
3.02
11200 put option. In addition, 11500-11600 put strikes
shed decent positions. Maximum open interest for
September series is placed at 11800 followed by 11600
OI Losers
call and 11400 followed by 11200 put options.
OI
PRICE
SCRIP
OI
PRICE
Post two consecutive day’s fall, we saw some recovery on
CHG. (%)
CHG. (%)
Wednesday’s session. Despite strong selling pressure
KSCL
834000
-10.75
620.20
1.42
recently, we hardly saw any relevant open interest
TORNTPOWER
2517000
-6.05
243.15
-0.89
change in Nifty futures; however, banking index added
BALKRISIND
2726400
-5.93
1159.20
1.74
decent shorts. At the same time, good amount of longs
INDIGO
3646200
-5.78
882.80
-1.25
formed in Nifty earlier are still in system. On Wednesday,
IGL
4796000
-5.73
269.70
2.20
we also saw decent writing in 11200 and 11300 put
HEXAWARE
4662000
-5.68
461.00
1.30
strike, which is certainly a positive indication.
BERGEPAINT
2096600
-5.27
302.65
1.70
Considering the above data points, we expect some relief
VOLTAS
4011000
-5.22
586.00
2.83
rally towards 11400-11450.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
REPCOHOME
34.24
NIFTY
1.29
0.83
AMARAJABAT
41.09
BANKNIFTY
0.68
0.73
ITC
29.29
RELIANCE
0.52
0.57
GRANULES
60.12
ICICIBANK
0.43
0.70
POWERGRID
35.83
INFY
0.67
0.57
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Technical & Derivatives Report
September 14, 2018
FII Statistics for September 12, 2018
Turnover on September 12, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3670.12
4061.18
(391.07)
297822
25516.20
(2.01)
297889
28286.21
12.14
FUTURES
FUTURES
INDEX
INDEX
183341.27
182521.82
819.45
956718
84159.81
(2.01)
20077057
2110941.42
87.86
OPTIONS
OPTIONS
STOCK
16247.58
15865.81
381.77
1199731
88878.28
1.35
STOCK
FUTURES
924890
65249.87
9.44
FUTURES
STOCK
STOCK
11717.61
11806.98
(89.37)
124227
9169.77
4.01
749488
57366.95
5.47
OPTIONS
OPTIONS
Total
214976.58
214255.80
720.78
2578498
207724.07
(0.19)
TOTAL
22049324
2261844.45
79.09
Nifty Spot = 11369.90
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11400
122.15
Buy
11400
109.15
47.30
52.70
11447.30
36.00
64.00
11364.00
Sell
11500
74.85
Sell
11300
73.15
Buy
11400
122.15
Buy
11400
109.15
79.55
120.45
11479.55
61.40
138.60
11338.60
Sell
11600
42.60
Sell
11200
47.75
Buy
11500
74.85
Buy
11300
73.15
32.25
67.75
11532.25
25.40
74.60
11274.60
Sell
11600
42.60
Sell
11200
47.75
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 14, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
360
368
373
381
385
ASIANPAINT
1,268
1,280
1,292
1,303
1,315
AXISBANK
609
622
644
657
678
BAJAJ-AUTO
2,780
2,824
2,855
2,899
2,931
BAJFINANCE
2,462
2,528
2,582
2,649
2,703
BAJAJFINSV
6,248
6,331
6,402
6,485
6,556
BPCL
319
327
332
339
344
BHARTIARTL
367
372
377
382
387
INFRATEL
260
265
269
274
278
CIPLA
635
646
654
665
673
COALINDIA
274
278
283
286
291
DRREDDY
2,444
2,486
2,530
2,573
2,617
EICHERMOT
27,533
28,172
28,685
29,324
29,837
GAIL
363
366
372
375
380
GRASIM
981
1,000
1,016
1,035
1,050
HCLTECH
1,072
1,080
1,089
1,097
1,106
HDFCBANK
1,976
1,994
2,008
2,026
2,039
HDFC
1,844
1,861
1,874
1,891
1,904
HEROMOTOCO
3,063
3,114
3,158
3,208
3,253
HINDALCO
224
231
235
242
246
HINDPETRO
229
235
239
244
249
HINDUNILVR
1,568
1,597
1,617
1,647
1,666
IBULHSGFIN
1,103
1,124
1,143
1,164
1,183
ICICIBANK
314
319
323
327
331
IOC
144
147
148
151
152
INDUSINDBK
1,791
1,810
1,823
1,842
1,856
INFY
732
737
742
748
752
ITC
291
299
303
311
315
KOTAKBANK
1,188
1,209
1,221
1,243
1,255
LT
1,307
1,330
1,343
1,365
1,378
LUPIN
907
933
948
974
989
M&M
895
917
934
955
972
MARUTI
8,340
8,417
8,478
8,555
8,616
NTPC
165
167
169
172
174
ONGC
164
166
169
171
173
POWERGRID
184
189
192
197
200
RELIANCE
1,217
1,235
1,247
1,265
1,277
SBIN
277
281
284
288
291
SUNPHARMA
607
629
641
663
676
TCS
2,022
2,033
2,051
2,062
2,080
TATAMOTORS
254
258
263
267
273
TATASTEEL
575
590
599
614
623
TECHM
717
728
740
752
763
TITAN
770
798
818
846
867
ULTRACEMCO
4,015
4,055
4,097
4,138
4,179
UPL
671
687
697
713
722
VEDANTA
216
220
223
227
230
WIPRO
323
326
328
331
334
YESBANK
306
310
315
319
324
ZEEL
446
455
464
473
481
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Technical & Derivatives Report
September 14, 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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