Technical & Derivatives Report
December 17, 2018
Sensex (35963) / Nifty (10805)
Exhibit 1: Nifty Daily Chart
Last week was certainly an eventful for our markets and
importantly, whatever action happened for the major part, it was
only on the domestic factors. Post the weak session on Monday,
our markets opened significantly lower on Tuesday, taking cues
from the exit poll numbers and abrupt Resignation of RBI
Governor Mr.Urjit Patel. However, market left everything behind
and had a spectacular recovery on the same day to defend key
levels. This lead extended on the following day as market gladly
welcomed appointment of a new governor Mr. Shaktikanta Das.
Last couple of days was a bit subdued; but eventually Nifty
concluded the week by adding over a percent to the bulls’ kitty.
Tuesday’s session was a critical one for our market and the way it
recovered, it certainly set the tone for some optimism. The low
during the day precisely coincided with the 61.8% Fibonacci
But once the Nifty manages to surpass 10840, we may
retracement of the recent up move. In addition, the other
possibly see the beginning of Santa rally in our market, which
heavyweight index (Bank Nifty) managed to reclaim its position
would immediately lift the index towards 10941 and above.
above the 200-day SMA, which was a sign of strength. But the
On the downside, 10749 followed by 10700 would be seen
real highlight was the smart rally in ‘Midcap’ index, which
as crucial supports. Last week, our markets reacted mainly on
continued for one more day as well. In last couple of sessions,
domestic factors; but now, the focus again may shift to the
index struggled after reaching the crucial point of 10840. We saw
outer world. One needs to keep monitoring how things pan
some tentativeness around it and hence, can be termed as a
out across the globe and with US fed meeting slated in this
corridor of uncertainty. Let us understand why this level has some
week, we may see some volatility in the global peers.
significance? On the hourly chart, we had a breakdown from this
crucial swing low on December 05. Hence, this previous support
is now acting as a resistance. Secondly, we can see a
Key Levels
convergence of two important trend lines on daily chart precisely
Support 1 - 10749
Resistance 1 -
10840
around the same level. Hence, unless we see Nifty breaking out
Support 2 - 10700
Resistance 2 -
10941
convincingly from this wall, traders should avoid aggressive bets
in the market.
Nifty Bank Outlook - (26826)
Exhibit 2: Nifty Bank Daily Chart
Post a sharp recovery during last week, the Nifty Bank index has
consolidated in a range in the last couple of sessions. The index is
close to the resistance of 27012.70, which is the previous swing
high registered in the last week of November. However, since the
recent unmoved during the week has been supported by a broad
market participation, it seems that the mentioned resistance could
be breached soon. Short term traders are advised to focus on
stock specific moves where there are better trading opportunities
seen with a favorable risk rewards ratio. The near-term supports
for the index are placed around 26670 and 26486 whereas
resistances are seen around 27013 and 27206.
Key Levels
Support 1 - 26670
Resistance 1 -
27013
Support 2 - 26486
Resistance 2 -
27206
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Technical & Derivatives Report
December 17, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.49%.
Bank Nifty futures open interest has increased by 0.35%
as market closed at 10805.45 levels.
The Nifty December future closed with a premium of
14.85 points against a premium of 33.40 points in last
trading session. The January series closed at a premium
of 64.30 points.
The INDIA VIX has decreased from 15.55 to 15.16.
At the same time, the PCR-OI of Nifty has increased from
1.51 to 1.53.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, CGPOWER, JPASSOCIAT,
TV18BRDCST and ADANIENT.
Views
FIIs were net buyers in cash market segment to the tune
OI Gainers
of Rs. 862 crores. In index futures segment, they bought
OI
PRICE
of Rs. 249 crores with some rise in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating fresh long formation on Friday’s trading
ARVIND
6126000
24.26
99.90
-2.20
session.
RELINFRA
11402300
13.70
291.95
2.02
In options front, they bought of Rs. 534 crores with rise in
CANFINHOME
4526050
13.32
278.60
4.45
open interest. As far as Nifty options activities are
CANBK
12578000
10.72
266.45
2.59
considered, we saw decent unwinding in 11100 call
SOUTHBANK
121329201
10.30
15.45
-4.01
option along with some fresh OI addition in
10800
RELCAPITAL
14322000
9.96
219.25
1.29
strike. On the flip side, we saw good amount of build-up
MOTHERSUMI
26446800
9.07
166.40
2.44
in 10700-10800 put options. Now, Maximum open
JETAIRWAYS
6575000
6.35
259.90
4.96
interest for December series now stands at 11000 call
and 10000 put options.
It was indeed an eventful week for our market, as we had
OI Losers
import event of state election result lined up. Our market
OI
PRICE
collapsed below 10350 mark on Tuesday as the Urjit
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Patel resigned as a RBI Governor and also due to the
PCJEWELLER
8091000
-14.08
83.80
5.15
unfavorable exit poll for BJP. However, we witnessed a
EQUITAS
8920000
-7.89
118.20
-0.46
sharp recovery thereafter to bring index above 10800
ONGC
78168750
-7.27
146.85
1.81
mark on the closing basis. During the week, we saw
ZEEL
11727300
-6.61
489.45
-1.02
blend of long and short covering in Nifty futures. In
JUBLFOOD
2125500
-4.98
1246.55
-0.43
options front, 10700 and 10800 put options continued
ACC
1342000
-4.88
1497.65
-0.39
adding short positions. Taking into consideration the
PFC
45021400
-4.62
90.70
5.21
above data points, we may soon see index surpassing
IOC
91904500
-4.55
141.25
-1.21
the immediate hurdle of 10820-10840; hence, dips in
market shall be an opportunity to add fresh longs.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HINDZINC
27.12
NIFTY
1.53
1.03
BHARTIARTL
55.58
BANKNIFTY
1.21
1.01
TORNTPOWER
56.38
RELIANCE
0.55
0.59
AUROPHARMA
44.54
ICICIBANK
0.52
0.51
CGPOWER
58.43
INFY
1.25
0.60
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Technical & Derivatives Report
December 17, 2018
FII Statistics for December 14, 2018
Turnover on December 14, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2394.79
2145.64
249.15
353354
27268.61
1.16
210757
14380.35
-28.33
FUTURES
FUTURES
INDEX
INDEX
59260.18
58726.61
533.57
862622
63992.47
3.40
6246527
380771.59
-77.72
OPTIONS
OPTIONS
STOCK
12352.16
11994.97
357.19
1479477
85851.84
(0.17)
STOCK
FUTURES
835329
45288.87
-6.91
FUTURES
STOCK
STOCK
6963.96
6820.90
143.06
153231
8576.84
4.25
719399
40138.04
-13.50
OPTIONS
OPTIONS
Total
80971.08
79688.11
1282.96
2848684
185689.76
1.29
TOTAL
74455
700968
-73.65
Nifty Spot = 10805.45
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10800
117.50
Buy
10800
101.30
47.80
52.20
10847.80
32.85
67.15
10767.15
Sell
10900
69.70
Sell
10700
68.45
Buy
10800
117.50
Buy
10800
101.30
79.25
120.75
10879.25
55.95
144.05
10744.05
Sell
11000
38.25
Sell
10600
45.35
Buy
10900
69.70
Buy
10700
68.45
31.45
68.55
10931.45
23.10
76.90
10676.90
Sell
11000
38.25
Sell
10600
45.35
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 17, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
365
367
369
371
373
ASIANPAINT
1,306
1,324
1,337
1,355
1,368
AXISBANK
606
613
618
625
630
BAJAJ-AUTO
2,763
2,793
2,815
2,845
2,867
BAJFINANCE
2,440
2,463
2,488
2,511
2,535
BAJAJFINSV
6,055
6,117
6,162
6,223
6,269
BPCL
323
334
342
353
360
BHARTIARTL
291
305
319
333
347
INFRATEL
245
249
251
254
256
CIPLA
507
514
524
531
541
COALINDIA
238
243
247
251
255
DRREDDY
2,548
2,570
2,590
2,612
2,631
EICHERMOT
22,906
23,311
23,556
23,961
24,205
GAIL
337
344
349
356
360
GRASIM
828
838
845
855
862
HCLTECH
941
951
960
970
979
HDFCBANK
2,071
2,083
2,101
2,113
2,131
HDFC
1,862
1,883
1,919
1,940
1,976
HEROMOTOCO
3,227
3,271
3,311
3,355
3,395
HINDALCO
215
217
220
223
226
HINDPETRO
219
223
226
231
234
HINDUNILVR
1,820
1,840
1,853
1,873
1,886
IBULHSGFIN
746
769
784
807
822
ICICIBANK
347
349
352
354
357
IOC
139
140
141
142
144
INDUSINDBK
1,579
1,591
1,602
1,615
1,626
INFY
685
696
705
715
724
ITC
272
274
276
277
279
JSW STEEL
285
289
295
299
305
KOTAKBANK
1,234
1,245
1,258
1,269
1,283
LT
1,392
1,401
1,415
1,425
1,439
M&M
745
751
758
764
770
MARUTI
7,489
7,575
7,633
7,719
7,777
NTPC
138
141
142
145
147
ONGC
136
142
146
151
156
POWERGRID
178
182
184
188
190
RELIANCE
1,083
1,098
1,106
1,121
1,129
SBIN
285
287
289
291
293
SUNPHARMA
412
417
421
425
430
TCS
1,964
1,977
1,988
2,001
2,012
TATAMOTORS
163
165
167
169
170
TATASTEEL
501
507
513
519
524
TECHM
700
706
711
718
723
TITAN
914
923
937
946
960
ULTRACEMCO
3,939
3,972
4,008
4,041
4,077
UPL
749
757
767
775
785
VEDANTA
196
199
201
204
206
WIPRO
325
329
336
340
347
YESBANK
163
172
177
185
190
ZEEL
476
483
489
496
502
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Technical & Derivatives Report
December 17, 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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