Technical & Derivatives Report
April 15, 2019
Sensex (38767) / Nifty (11643)
Exhibit 1: Nifty Daily Chart
During the last week, trading activity started on a positive note
slightly above 11700, very much in-line with other Asian peers.
However, it looked like a fragile gap up opening and hence,
markets started coming off immediately from opening trades. In
fact, the selling aggravated as the day progressed and hence, we
not only erased early morning gains but also went on to sneak
well below key support levels. During the remaining part of the
week, index consolidated within the range of Monday’s session
with lot of stock specific moves. On Friday, we saw good traction
throughout the day and hence, Nifty eventually managed to close
well above the 11600 mark.
Recently, markets had run up quite sharply and generally after
such a relentless move, markets needs to undergo either ‘Time-
wise’ or ‘price-wise’ correction. What we are experiencing is a
part of that time-wise correction. Such development is considered
a healthy move if markets has to unfold further legs in the
upward direction. As far as levels are concerned, we are trapped
in a range of 11761 - 11549 and a decisive breakout on either
side would bring back some momentum in the market. In our
sense, even if we slide below 11549, the trend does not change
and hence, we would rather interpret it as a good buying
opportunity.
In any kind of consolidation, it is hard to give time projection; but
according to us, it’s a matter of time, we would see Nifty going
beyond 11761 and enter an uncharted territory. Whether this
happens before the election verdict or not, the time will tell us. Till
then traders are advised not to have a contrarian approach and
should rather look to identify potential candidates in order to
fetch higher returns.
Key Levels
Support 1 - 11569
Resistance 1 -
11680
Support 2 - 11549
Resistance 2 -
11761
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (29938)
During last week's corrective phase, the Nifty Bank index tested
the '20 DEMA' support in Thursday's session. This was followed by
an up move on Friday wherein the index ended with gains of half
a percent. In our last couple of reports, we had highlighted the
importance of the '20 DEMA' support in an uptrend. The index
now seems to have formed a support base at this mentioned
average near 29640 and hence there is a higher probability of
positive momentum in the near term. Hence, we continue with our
advice to trade with a positive bias till this support is intact. The
near term resistance is seen around 30250.
Key Levels
Support 1 - 29800
Resistance 1 -
30000
Support 2 - 29625
Resistance 2 -
30250
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Technical & Derivatives Report
April 15, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.03%.
Bank Nifty futures open interest has increased by 8.29%
as market closed at 11643.45 levels.
The Nifty April future closed with a premium of 60.40
points against a premium of 72.20 points in last trading
session. The May series closed at a premium of 122.05
points.
The INDIA VIX has increased from 20.95 to 21.00.
At the same time, the PCR-OI of Nifty has increased from
1.24 to 1.55.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, DLF, GSFC, IDFC and NHPC.
Views
It was a week of consolidation for our market. The
OI Gainers
benchmark index traded in the range of 11550-11700
OI
PRICE
levels.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
FII’s were net buyers in the equity segment to the tune of
TATAGLOBAL
15250500
9.68
215.15
0.18
about 897 crores. In index futures segment, they were
JUBLFOOD
3382000
8.66
1361.50
-1.04
sellers of Rs. 436 crores with some rise in open interest,
ADANIPOWER
164660000
7.10
53.20
5.10
indicating addition of short positions.
IDEA
522389324
7.06
16.05
-1.26
In index options front, they were buyers of Rs. 1060
HEXAWARE
3051000
7.05
337.65
-1.23
crores with rise in OI. In call options, we witnessed fresh
UJJIVAN
4190400
6.42
349.65
1.11
build-up in
11750 and 11800 strikes; followed by
ITC
64922400
6.19
305.75
2.96
unwinding in 11700 puts. On the flip side, decent writing
SUZLON
316844000
5.65
7.20
7.41
was seen in
11500-11650 put options. Now, the
maximum OI concentration this weekly expiry stood at
11700 call and 11600 put options.
OI Losers
Last week, we witnessed some unwinding of positions in
OI
PRICE
this consolidation and hardly any fresh shorting was
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
observed. The maximum open interest concentration is
KAJARIACER
1535300
-16.60
622.00
2.48
now placed at 11600 put options. Recently, 11550-
BERGEPAINT
3007400
-14.13
327.35
1.73
11600 has acted as a very strong base last week and on
DCBBANK
5503500
-13.45
198.80
-0.22
Friday we also saw fresh buying from these levels. In
GAIL
9369171
-13.28
356.75
3.92
options front, good amount of unwinding also took place
PCJEWELLER
10933000
-12.98
111.90
16.49
in 11700 which acted as a hurdle. Considering above
BHEL
53632500
-12.27
77.70
4.21
data points, traders are advised trading with a positive
MUTHOOTFIN
2253000
-11.85
615.75
0.82
bias going ahead as we may soon head towards record
DHFL
21430500
-11.04
167.05
-3.62
highs.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TV18BRDCST
52.75
NIFTY
1.55
0.91
PCJEWELLER
97.16
BANKNIFTY
1.05
0.86
ITC
22.28
RELIANCE
0.44
0.55
GAIL
35.76
ICICIBANK
0.56
0.50
BHEL
41.43
INFY
0.68
0.54
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Technical & Derivatives Report
April 15, 2019
FII Statistics for April 12, 2019
Turnover on April 12, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1991.62
2427.76
(436.13)
228582
18252.50
0.90
208962
15286.12
-1.10
FUTURES
FUTURES
INDEX
INDEX
107258.48
106198.78
1059.69
872713
69323.45
2.52
6974904
482484.41
-74.63
OPTIONS
OPTIONS
STOCK
10259.19
10673.33
(414.15)
1374602
88904.23
(0.30)
STOCK
FUTURES
670325
42670.27
5.77
FUTURES
STOCK
STOCK
5904.29
6106.13
(201.84)
116049
7365.06
2.49
641475
42211.12
12.14
OPTIONS
OPTIONS
Total
125413.57
125406.00
7.57
2591946
183845.23
0.87
TOTAL
623820
2238702
-70.79
Nifty Spot = 11643.45
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11600
168.40
Buy
11600
64.40
62.65
37.35
11662.65
23.45
76.55
11576.55
Sell
11700
105.75
Sell
11500
40.95
Buy
11600
168.40
Buy
11600
64.40
108.40
91.60
11708.40
40.20
159.80
11559.80
Sell
11800
60.00
Sell
11400
24.20
Buy
11700
105.75
Buy
11500
40.95
45.75
54.25
11745.75
16.75
83.25
11483.25
Sell
11800
60.00
Sell
11400
24.20
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 15, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
374
380
383
389
393
ASIANPAINT
1,417
1,428
1,436
1,447
1,455
AXISBANK
746
755
761
770
776
BAJAJ-AUTO
2,952
2,980
3,003
3,031
3,054
BAJFINANCE
2,963
2,986
3,024
3,047
3,085
BAJAJFINSV
7,457
7,497
7,546
7,586
7,635
BPCL
353
357
362
367
372
BHARTIARTL
332
337
344
349
355
INFRATEL
311
313
315
317
319
BRITANNIA
2,927
2,956
2,973
3,002
3,019
CIPLA
541
548
552
559
564
COALINDIA
238
240
241
242
243
DRREDDY
2,770
2,788
2,805
2,823
2,840
EICHERMOT
20,707
21,034
21,232
21,559
21,757
GAIL
335
346
353
364
370
GRASIM
831
842
852
863
872
HCLTECH
1,063
1,073
1,087
1,097
1,111
HDFCBANK
2,243
2,254
2,263
2,274
2,283
HDFC
1,999
2,012
2,021
2,034
2,043
HEROMOTOCO
2,572
2,606
2,625
2,659
2,679
HINDALCO
206
208
210
212
214
HINDUNILVR
1,704
1,713
1,719
1,728
1,733
IBULHSGFIN
809
820
836
847
863
ICICIBANK
386
390
393
397
400
IOC
152
154
157
158
161
INDUSINDBK
1,717
1,727
1,736
1,745
1,754
INFY
736
742
747
753
758
ITC
291
298
303
310
315
JSW STEEL
283
285
287
289
290
KOTAKBANK
1,331
1,337
1,343
1,349
1,354
LT
1,343
1,352
1,367
1,376
1,391
M&M
663
671
675
683
687
MARUTI
7,091
7,217
7,287
7,413
7,483
NTPC
135
135
136
137
137
ONGC
156
157
158
159
161
POWERGRID
194
196
197
198
199
RELIANCE
1,325
1,334
1,346
1,354
1,366
SBIN
309
312
314
317
319
SUNPHARMA
459
462
465
468
471
TCS
1,988
2,001
2,020
2,033
2,052
TATAMOTORS
213
214
217
218
221
TATASTEEL
526
530
536
540
547
TECHM
770
778
782
790
794
TITAN
1,086
1,091
1,100
1,105
1,114
ULTRACEMCO
4,107
4,137
4,167
4,197
4,227
UPL
903
915
922
933
941
VEDANTA
178
181
183
186
188
WIPRO
280
282
283
285
286
YESBANK
262
265
269
271
275
ZEEL
404
411
415
422
426
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Technical & Derivatives Report
April 15, 2019
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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