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Technical & Derivatives Report
November 15, 2019
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Sensex (
40286
(1
1872
)
During this week so far, the Nifty has traded in a range of about
150 points and the broader markets have witnessed more of a
stock specific momentum. In yesterday’s session, the index
opened on a positive note but witnessed a dip during the day
towards the 11800 mark. Post noon, the index witnessed some
buying interest which led to a gradual up move for the rest of the
session and the index ended the day with minor gains of about a
quarter of a percent.
Although we have seen some retracement from the recent highs
of 12000 mark, there are no signs of a trend reversal on the
charts and hence, we construe this dip as a correction within an
uptrend. Inspite of the negative market breadth in last couple of
sessions, there have been some pockets from the broader
markets which have seen witnessing buying interest with good
volumes. Hence, we advise traders to avoid taking any contra
bets here and rather take this dip as a good buying opportunity.
The immediate support for the Nifty is placed in the range of
11800-11760 whereas resistance is seen around 11950. We
believe that this intermediate correction will form a strong base
for the next leg of up move and once the index crosses the 11950
mark, we should then see the index surpassing the recent swing
high and resume its uptrend.
Key Levels
Support 1 – 11800 Resistance 1 – 11950
Support 2 – 11760 Resistance 2 – 12000
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
30750
)
Bank Nifty Index witnessed a gap up opening however it
immediately witnessed selling pressure to slide below the previous
session low and mark intraday low of 30338. Subsequently, the
bank index witnessed demand at lower levels which triggered a
smart bounce back to eventually end with gains of 0.68% at
30750 levels.
In our previous report, we had mentioned strong support around
previous trend line breakout levels and in yesterday's sessions
Bank Nifty exactly bounced after testing the vicinity of the demand
zone. The bank index closed at the highest level and we expect
the momentum to continue towards 31000-31200 levels. On the
flip side, 30200-30000 continues to be a strong demand zone
and buying may continue to emerge at the said support levels .
We continue with our advice to have a stock-specific long
approach.
Key Levels
Support 1 – 30200 Resistance 1 – 31000
Support 2 – 30000 Resistance 2 – 31200
Exhibit 2: Nifty Bank Daily Chart
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Nifty Vs OI
Views
We began yesterday’s session on a positive note but
couldn’t sustain at higher levels hence, corrected
towards 11800 mark in the initial hours of trade. In the
midst, we saw some buying interest from the lower
levels to once again bring index in the positive
trajectory on the closing.
FIIs were net sellers in the cash market segment to the
tune of Rs. 562 cr. In index futures, they sold worth
Rs. 441 crores with rise in open interest, indicating
formation of short positions in the previous trading
session.
In the recent rally seen, we saw a good amount of long
formation in both the indices and the majority of these
positions are still intact in the system. In yesterday’s
recovery, we saw blend of short covering and fresh
long formation in index futures. The highest open
interest concentration is seen in 11800 put, which
acted as a support for market; whereas, on the flip side
around 12000 lies a hurdle. Considering the overall
F&O activities, we continue to remain upbeat on the
market and would advise traders to declines to add-on
fresh longs.
Comments
The Nifty futures open interest has decreased by 1.04%
Bank Nifty futures open interest has increased 1.67% as
market closed at 11872.10 levels.
The Nifty November future closed with a premium of
27.55 points against a premium of 22.80 points in last
trading session. The December series closed at a
premium of 70.95 points.
The INDIA VIX has decreased from 16.46 to 15.65.
At the same time, the PCR-OI of Nifty has increased from
1.09 to 1.17.
Few of the liquid counters where we have seen high cost
of carry are DISHTV, GMRINFRA, APOLLOHOSP, GAIL
and TATAPOWER.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MUTHOOTFIN 3477000 26.60 711.50 9.48
INFRATEL 14830000 18.51 208.65 -4.61
MGL 2391000 17.97 1030.10 2.67
BALKRISIND 2001600 12.96 822.60 -0.09
BHARTIARTL 34137993 12.13 362.50 -1.18
APOLLOHOSP 1970000 11.77 1419.00 2.73
GLENMARK 7535600 8.72 282.05 3.19
VOLTAS 2918000 8.15 713.60 1.69
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BATAINDIA 2313300 -13.79 1711.10 1.63
JUSTDIAL 3815000 -8.28 514.25 0.54
SUNTV 3328200 -8.08 490.80 4.40
HEXAWARE 1519500 -6.89 333.50 1.29
BANKINDIA 20676000 -6.41 66.25 1.45
PIDILITIND 3727000 -6.20 1344.45 0.98
CESC 956000 -5.08 759.15 0.82
TATACHEM 2284200 -4.37 631.50 0.09
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.17 0.80
BANKNIFTY 1.08 0.64
RELIANCE 0.69 0.79
ICICIBANK 0.92 0.73
INFY 0.56 0.46
Historical Volatility
SCRIP HV
MUTHOOTFIN 57.06
IDEA 174.31
AUROPHARMA 72.88
CADILAHC 40.62
MARICO 29.84
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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
=
118
72.10
Lot Size = 75
FII Statistics for
November
14
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3493.19 3934.83 (441.64) 204237 17006.25 2.24
INDEX
OPTIONS
525667.85 522710.62 2957.23
580364 48587.45 (8.61)
STOCK
FUTURES
11658.93 11193.47 465.46
1568718 91489.96 0.55
STOCK
OPTIONS
5031.31 5060.19 (28.88) 89151 4998.55 3.76
Total 545851.28
542899.11
2952.17
2442470
162082.21
(1.55)
Turnover on
November
14
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
352204 25239.44 7.78
INDEX
OPTIONS
45560874 3047323.15 143.16
STOCK
FUTURES
772370 43161.20 -6.80
STOCK
OPTIONS
735614 44106.04 -6.97
TOTAL 4,74,21,062
3159829.83 130.59
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11900 119.25
46.40 53.60 11946.40
Sell 12000 72.85
Buy 11900 119.25
79.95 120.05 11979.95
Sell 12100 39.30
Buy 12000 72.85
33.55 66.45 12033.55
Sell 12100 39.30
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11900 121.35
38.30 61.70 11861.70
Sell 11800 83.05
Buy 11900 121.35
64.30 135.70 11835.70
Sell 11700 57.05
Buy 11800 83.05
26.00 74.00 11774.00
Sell 11700 57.05
Nifty Put-Call Analysis
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Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 361 365
370 374 378
ASIANPAINT 1,746 1,759
1,779 1,792 1,813
AXISBANK 700 708
715 723 730
BAJAJ-AUTO 3,170 3,201
3,223 3,255 3,276
BAJFINANCE 4,083 4,147
4,184 4,248 4,285
BAJAJFINSV 8,827 8,944
9,018 9,135 9,209
BPCL 497 506
513 522 529
BHARTIARTL 343 353
360 370 377
INFRATEL 194 201
206 214 219
BRITANNIA 3,160 3,196
3,235 3,270 3,310
CIPLA 435 443
451 459 466
COALINDIA 197 200
204 207 211
DRREDDY 2,693 2,714
2,745 2,766 2,798
EICHERMOT 21,176 21,367
21,546 21,737 21,916
GAIL 117 119
122 125 128
GRASIM 689 712
734 757 779
HCLTECH 1,124 1,136
1,147 1,158 1,169
HDFCBANK 1,250 1,262
1,269 1,282 1,289
HDFC 2,174 2,200
2,217 2,243 2,259
HEROMOTOCO 2,561 2,576
2,592 2,608 2,623
HINDALCO 184 186
190 192 196
HINDUNILVR 2,045 2,057
2,074 2,086 2,103
ICICIBANK 478 488
494 504 510
IOC 127 132
136 141 145
INDUSINDBK 1,330 1,352
1,376 1,399 1,423
INFY 690 698
704 711 717
ITC 252 253
254 255 257
JSW STEEL 241 243
247 249 252
KOTAKBANK 1,571 1,584
1,597 1,611 1,624
LT 1,359 1,370
1,388 1,399 1,417
M&M 563 571
575 583 587
MARUTI 7,116 7,181
7,226 7,291 7,336
NESTLEIND 14,010 14,121
14,211 14,322 14,412
NTPC 117 118
118 119 120
ONGC 133 135
137 138 141
POWERGRID 185 187
188 190 192
RELIANCE 1,441 1,452
1,467 1,478 1,493
SBIN 295 301
305 310 315
SUNPHARMA 402 406
412 416 422
TCS 2,128 2,162
2,181 2,216 2,234
TATAMOTORS 163 165
168 170 172
TATASTEEL 384 388
393 397 403
TECHM 742 750
757 765 772
TITAN 1,155 1,162
1,169 1,176 1,183
ULTRACEMCO 3,904 3,954
4,043 4,093 4,182
UPL 524 530
537 543 550
VEDANTA 138 141
146 149 154
WIPRO 250 251
253 255 256
YESBANK 65 67
69 71 73
ZEEL 272 277
286 291 301
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November 15, 2019
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*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cs[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]elbroking.com
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