Technical & Derivatives Report
May 17, 2019
Sensex (37393) / Nifty (11257)
Exhibit 1: Nifty Daily Chart
Wednesday’s tail end correction was followed by a mildly bullish
start amid mixed global cues. The index then went into a
consolidation mode for the major part of the day. However, as
we have been highlighting since last few days, the penultimate
hour has become so crucial for our market and yesterday too it
followed its recent pattern. The real momentum and trended
move triggered at the stroke of the penultimate hour and then
with some wild swings (due to weekly derivative expiry), index
managed to give a sharp rally to conclude the expiry with some
hopes and smile in traders’ fraternity.
Last few days have been terrible for market participants; but
yesterday, finally there was some opportunity for traders and the
way it’s closed, it has brought back wide smiles on many faces.
Considering the mega event lined up on Thursday and the results
of exit polls over the weekend are going to influence price action
in the forthcoming week and probably in today’s session as well.
As far as levels are concerned, we have closed near an intraday
hurdle of 11280 - 11300; but looking at yesterday’s late surge, a
possibility of surpassing and then extending this move towards
11360 - 11400 cannot be ruled out. Traders should keep a tab
on this and on the flipside, 11200 followed by 11143 would now
be seen as key support levels.
Yesterday’s move was mainly initiated by heavyweight IT counters
and the Pharma basket that had a stellar recovery after their early
morning nosedive. Then in the latter half, other biggies like banks
and auto pockets joined hands to fuel this rally. Not to forget,
midcap universe has been showing resilience since last three
days, had a decent recovery to indicate further relief move in
many beaten down counters.
Key Levels
Support 1 - 11200
Resistance 1 -
11300
Support 2 - 11143
Resistance 2 -
11360
Nifty Bank Outlook - (28855)
Exhibit 2: Nifty Bank Daily Chart
In yesterday's session, the Nifty Bank index traded in a narrow
range for most part of the day. However, the weekly expiry
session saw buying momentum in the last couple of hours and the
index rallied higher to end with gains of over eight-tenths of a
percent. In last four trading sessions, Bank Nifty has oscillated in
a broad range of 29050-28525. However, the 89EMA has acted
as decent support as buying momentum has been seen in this
consolidation around it. In near term, a breakout beyond the
above-mentioned levels could lead to some directional move and
hence, traders should prefer to trade in the direction of the
breakout. The immediate support for the index is placed at
28550-28500 whereas resistances are seen around 29050 and
29200.
Key Levels
Support 1 - 28550
Resistance 1 -
29050
Support 2 - 28500
Resistance 2 -
29200
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Technical & Derivatives Report
May 17, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.82%.
Bank Nifty futures open interest has decreased by
11.65% as market closed at 11257.10 levels.
The Nifty May future closed with a premium of 28.15
points against a premium of 20.45 points in last trading
session. The June series closed at a premium of
60
points.
The INDIA VIX has decreased from 28.65 to 28.37.
At the same time, the PCR-OI of Nifty has increased from
1.14 to 1.28.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, RPOWER, NHPC, UJJIVAN and
GMRINFRA.
Views
OI Gainers
In yesterday’s session, we had a positive start for the day
OI
PRICE
and then index remained range bound. However, in the
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
final hour the weekly expiry factor came into play and we
TATAGLOBAL
14042250
0.95
200.25
0.05
witnessed a sharp recovery to conclude the session with
PETRONET
9309000
2.82
233.65
0.04
gains of 100 points.
UJJIVAN
3371200
-6.06
306.70
-0.39
FII’s were net sellers in the equity segment to the tune of
RBLBANK
5263200
0.94
651.20
-1.02
Rs.953 crores. In index futures front, they were sellers of
BANKINDIA
23454000
-4.91
82.90
2.97
Rs. 820 crores with fall in open interest, indicating long
GODREJIND
1216500
5.60
450.95
0.13
unwinding in yesterday’s session.
BALKRISIND
1492800
0.43
815.70
0.06
In index options front, they were sellers of Rs. 2011
GLENMARK
3861000
-2.52
602.70
1.72
crores with decent fall in OI. In call options, some open
interest additions took place in 11450 strikes. On the
other side, 11000 and 11200 put options added fresh
OI Losers
positions. Highest open interest concentration is now
OI
PRICE
SCRIP
OI
PRICE
placed at 11500 call and 11000 put options.
CHG. (%)
CHG. (%)
In the recent correction from 11700-11800, we saw
JUBLFOOD
3327500
9.80
1201.95
-2.99
good amount of profit booking especially by stronger
AMARAJABAT
1524600
-3.07
632.45
1.15
hands. Meanwhile, fewer shorts were formed in index
KAJARIACER
2208700
-5.30
585.90
0.96
futures segment. Once again 11100-11150 acted as a
CHENNPETRO
1317600
-3.30
217.70
-1.36
sheet anchor for the benchmark index and we also sow
IRB
9292800
-8.13
114.35
7.36
some buying interest in futures segment. Hence, until
VEDL
42281600
0.46
160.75
4.17
index sustains above the above mentioned support zone,
SAIL
87648000
2.41
47.75
-5.89
one should use buy on dip strategy.
ORIENTBANK
12040000
-10.32
94.05
2.55
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
SRF
44.13
NIFTY
1.28
0.84
UNIONBANK
80.12
BANKNIFTY
0.84
0.83
TATAMOTORS
67.74
RELIANCE
0.49
0.42
BAJFINANCE
34.01
ICICIBANK
0.71
0.62
GRASIM
34.04
INFY
1.02
0.77
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Technical & Derivatives Report
May 17, 2019
FII Statistics for May 16, 2019
Turnover on May 16, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3748.54
4568.07
(819.53)
218877
16885.14
(3.09)
296786
21151.31
2.57
FUTURES
FUTURES
INDEX
INDEX
334808.87
336820.47
(2011.60)
769399
60511.06
(10.14)
29333630
1887584.54
63.59
OPTIONS
OPTIONS
STOCK
12174.37
11753.49
420.87
1509998
85914.70
0.64
STOCK
FUTURES
842633
46365.94
-2.59
FUTURES
STOCK
STOCK
4514.34
4346.67
167.67
127650
7121.85
2.13
539404
31117.67
-0.44
OPTIONS
OPTIONS
Total
355246.12
357488.70
(2242.58)
2625924
170432.75
(3.01)
TOTAL
732838
2568108
-22.66
Nifty Spot = 11257.10
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11300
283.20
Buy
11200
257.75
53.50
46.50
11353.50
38.65
61.35
11161.35
Sell
11400
229.70
Sell
11100
219.10
Buy
11300
283.20
Buy
11200
257.75
96.50
103.50
11396.50
71.00
129.00
11129.00
Sell
11500
186.70
Sell
11000
186.75
Buy
11400
229.70
Buy
11100
219.10
43.00
57.00
11443.00
32.35
67.65
11067.65
Sell
11500
186.70
Sell
11000
186.75
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
May 17, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
356
364
369
377
382
ASIANPAINT
1,287
1,296
1,305
1,314
1,323
AXISBANK
712
722
729
738
745
BAJAJ-AUTO
2,886
2,914
2,936
2,965
2,987
BAJFINANCE
2,964
3,037
3,083
3,156
3,202
BAJAJFINSV
7,326
7,472
7,568
7,713
7,809
BPCL
341
358
369
386
396
BHARTIARTL
314
320
327
332
339
INFRATEL
259
264
267
271
275
BRITANNIA
2,651
2,684
2,710
2,743
2,770
CIPLA
534
542
549
558
565
COALINDIA
226
229
233
236
240
DRREDDY
2,730
2,765
2,796
2,832
2,862
EICHERMOT
19,215
19,760
20,070
20,615
20,925
GAIL
322
326
330
334
338
GRASIM
795
808
817
830
839
HCLTECH
1,045
1,059
1,070
1,083
1,094
HDFCBANK
2,264
2,287
2,303
2,326
2,342
HDFC
1,909
1,926
1,940
1,956
1,971
HEROMOTOCO
2,450
2,485
2,523
2,558
2,596
HINDALCO
188
191
194
197
199
HINDUNILVR
1,659
1,674
1,687
1,701
1,715
IBULHSGFIN
676
692
703
720
731
ICICIBANK
374
378
382
386
389
IOC
140
145
149
155
158
INDUSINDBK
1,329
1,344
1,363
1,377
1,397
INFY
712
722
730
740
748
ITC
291
293
295
297
299
JSW STEEL
265
270
274
279
283
KOTAKBANK
1,360
1,387
1,405
1,432
1,450
LT
1,291
1,314
1,331
1,354
1,371
M&M
590
597
605
613
620
MARUTI
6,397
6,438
6,483
6,524
6,569
NTPC
122
124
125
127
128
ONGC
160
163
165
168
170
POWERGRID
177
180
181
183
185
RELIANCE
1,251
1,258
1,265
1,272
1,279
SBIN
307
311
314
319
322
SUNPHARMA
363
388
404
428
444
TCS
2,056
2,083
2,103
2,129
2,150
TATAMOTORS
171
173
175
178
180
TATASTEEL
449
459
465
475
481
TECHM
775
782
788
796
802
TITAN
1,145
1,166
1,180
1,201
1,216
ULTRACEMCO
4,250
4,382
4,453
4,585
4,656
UPL
945
958
970
983
996
VEDANTA
157
160
162
165
167
WIPRO
282
284
285
287
289
YESBANK
128
133
139
144
151
ZEEL
305
325
339
359
372
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Technical & Derivatives Report
May 17, 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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