Technical & Derivatives Report
March 18, 2019
Sensex (38024) / Nifty (11427)
Exhibit 1: Nifty Daily Chart
The week gone by witnessed a start with a bang on Monday as
we saw a gap up opening first which was then followed by a
massive intraday rally; setting the tone for the rest of the week.
Following days did not disappoint at all, in fact there was strong
optimism seen throughout to post massive intra-week rally. With
this, Nifty managed to clock biggest weekly gains in last four
months. The major charioteer for this mesmerizing rally was none
other than the heavyweight banking index. What a stellar move
we witnessed throughout the week to register fresh highs in the
process. Eventually both indices saw some mild profit booking
towards the fag end of the week and it was very much evident
also after seeing such relentless rally.
Let’s dig into a bit of technical now. In our sense, the stage was
set for this kind of move when Nifty convincingly surpassed
10900 levels. What encouraged us is the outperformance of
Honestly speaking, we are at crucial technical ratios and
Midcap and small cap basket which started few days prior to this.
considering the pace of the move, the risk-reward for fresh
And then the major driver ‘Banking’ started showing its
trader has gone for a toss now. In our sense, some kind of
dominance. Considering all these evidences, we were vocal
consolidation would now be seen for a while before unfolding
about this rally getting extended towards 11300 - 11400, which
the next leg of the rally. By no means, one should go short,
was the higher end of the ‘Megaphone’ pattern. Index has
rather it’s time to be selective when it comes to individual stocks
reached this junction and in fact due to strong exuberance, Nifty
and should be done with a proper money management. On the
extended its march towards the 11500 mark. Now, we are at a
higher side, 11500 followed by 11600 would be the immediate
kissing distance from this figure and it’s a matter of time, index
levels to watch out for and on the downside, 11370 and 11300
would actually see this number. But, the point is, will there be
should be seen as important supports in this week.
some exhaustion seen or index would continue heading towards
all-time highs.
Key Levels
Support 1 - 11370
Resistance 1 -
11500
Support 2 - 11300
Resistance 2 -
11600
Nifty Bank Outlook - (29381)
Exhibit 2: Nifty Bank Daily Chart
It was a remarkable week for the traders as the Nifty bank index
posted whopping gains of just below 6 percent during the week.
The index gave an all-time high closing at 29381.45. If we re-
look at the recent historical data, the Nifty Bank index showed a
time-wise correction since mid-December and had consolidated
above its 200 DMA support. During the 1st week of this month,
the index resumed its uptrend with participation from the index
heavyweights as well as the midcaps. Since RSI on the lower time
frame chart is in overbought zone, there could be some
consolidation in the index in short term. However, since the trend
is positive, traders should look for buying opportunities in any
such time or price correction. Hence, we continue with our advice
for traders to trade with a positive bias. The near term support for
the index is placed around 28900 whereas resistance is seen
around 29500 as per the reciprocal retracement theory.
Key Levels
Support 1 - 29000
Resistance 1 -
29500
Support 2 - 28900
Resistance 2 -
29580
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Technical & Derivatives Report
March 18, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 15.27%.
Bank Nifty futures open interest has increased by 6.39%
as market closed at 11426.85 levels.
The Nifty March future closed with a premium of 43.60
points against a premium of 38.50 points in last trading
session. The April series closed at a premium of 97.75
points.
The INDIA VIX has increased from 15.15 to 15.86.
At the same time, the PCR-OI of Nifty has increased from
1.68 to 1.77.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, JPASSOCIAT, SYNDIBANK,
SUZLON and IFCI.
Views
OI Gainers
It is the fourth consecutive week wherein we have
OI
PRICE
SCRIP
OI
PRICE
concluded the week on a positive note. Nifty rallied
CHG. (%)
CHG. (%)
3.55% last week along with significant long addition in
RBLBANK
9645600
53.40
648.15
0.43
Futures segment.
COALINDIA
25938000
22.60
244.35
0.62
FIIs continued their buying in equities; they bought to the
NTPC
40712000
15.36
158.05
1.87
tune of Rs. 4323 crores. In index futures segment, they
KOTAKBANK
15496800
11.53
1325.15
4.30
bought of Rs. 2362 crores with good amount of rise in
GAIL
10299954
11.39
359.35
0.93
open interest, suggesting long formation in previous
IOC
44632000
11.12
157.35
3.26
trading session.
SAIL
89976000
10.59
51.55
-2.26
As far as Nifty options activities are concerned, 11700-
ICICIBANK
97088750
10.42
395.30
1.71
11800 call options added good amount of positions
along with unwinding in 11300-11500 strikes. On the
other side, massive writing took place in 11400 put
OI Losers
options followed by 11500 and 11300 strikes. Now, the
OI
PRICE
SCRIP
OI
PRICE
maximum open interest concentration is placed at 11500
CHG. (%)
CHG. (%)
call and 11000 put options.
ARVIND
7336000
-13.43
95.75
0.42
Since the beginning of March series, we have been
DCBBANK
5386500
-10.00
201.20
0.20
witnessing huge amount of long formation and now it
CGPOWER
39072000
-9.02
43.95
3.66
seems we are long heavy. At present, around 11500 is
EXIDEIND
6770000
-8.83
229.65
0.22
the immediate hurdle; whereas, 11250-11300 shall act
GODFRYPHLP
471100
-8.44
1082.55
0.08
as a support. As we are trading near the higher side of
NIITTECH
1113750
-8.28
1336.65
0.81
the range, we would advise traders to lighten up their
SOUTHBANK
140882391
-8.26
15.55
1.63
longs and prefer trading in individual counters for better
INFIBEAM
17212000
-7.68
43.85
-4.25
risk reward ratio.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
KOTAKBANK
29.18
NIFTY
1.77
0.91
NESTLEIND
33.62
BANKNIFTY
1.42
0.76
CADILAHC
29.19
RELIANCE
0.91
0.79
HINDUNILVR
19.60
ICICIBANK
0.94
0.54
DABUR
28.37
INFY
0.77
0.30
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Technical & Derivatives Report
March 18, 2019
FII Statistics for March 15, 2019
Turnover on March 15, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
6345.34
3983.72
2361.62
329822
26460.09
14.58
382188
27587.62
56.43
FUTURES
FUTURES
INDEX
INDEX
147198.98
148732.73
(1533.76)
998755
77502.57
9.19
10823394
729724.63
-61.30
OPTIONS
OPTIONS
STOCK
14207.92
16682.99
(2475.07)
1443988
91236.08
1.81
STOCK
FUTURES
933869
60450.78
30.55
FUTURES
STOCK
STOCK
8956.96
9002.26
(45.30)
134029
8455.76
3.18
962160
65230.94
37.30
OPTIONS
OPTIONS
Total
176709.19
178401.70
(1692.51)
2906594
203654.50
5.67
TOTAL
74455
700968
-55.79
Nifty Spot = 11426.85
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11400
147.85
Buy
11400
81.35
54.20
45.80
11454.20
27.75
72.25
11372.25
Sell
11500
93.65
Sell
11300
53.60
Buy
11400
147.85
Buy
11400
81.35
92.40
107.60
11492.40
46.25
153.75
11353.75
Sell
11600
55.45
Sell
11200
35.10
Buy
11500
93.65
Buy
11300
53.60
38.20
61.80
11538.20
18.50
81.50
11281.50
Sell
11600
55.45
Sell
11200
35.10
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 18, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
358
363
366
370
373
ASIANPAINT
1,411
1,422
1,439
1,450
1,468
AXISBANK
721
728
739
745
756
BAJAJ-AUTO
2,960
2,992
3,012
3,044
3,064
BAJFINANCE
2,774
2,818
2,858
2,902
2,942
BAJAJFINSV
6,840
6,884
6,944
6,988
7,048
BPCL
386
391
395
400
404
BHARTIARTL
324
331
338
345
352
INFRATEL
306
310
315
318
324
CIPLA
526
529
532
536
539
COALINDIA
235
240
243
248
251
DRREDDY
2,612
2,635
2,665
2,688
2,717
EICHERMOT
22,213
22,413
22,625
22,825
23,037
GAIL
345
352
357
364
369
GRASIM
811
821
833
842
855
HCLTECH
999
1,014
1,024
1,039
1,049
HDFCBANK
2,215
2,234
2,247
2,266
2,279
HDFC
1,938
1,956
1,974
1,992
2,010
HEROMOTOCO
2,687
2,712
2,741
2,766
2,795
HINDALCO
194
197
200
202
205
HINDPETRO
260
268
274
283
289
HINDUNILVR
1,661
1,680
1,713
1,732
1,765
IBULHSGFIN
681
691
703
712
724
ICICIBANK
384
390
394
400
404
IOC
147
152
156
161
164
INDUSINDBK
1,669
1,686
1,702
1,719
1,735
INFY
703
711
717
725
731
ITC
285
288
292
295
299
JSW STEEL
282
285
288
291
294
KOTAKBANK
1,242
1,284
1,312
1,353
1,381
LT
1,363
1,380
1,395
1,412
1,428
M&M
683
689
693
699
703
MARUTI
7,003
7,044
7,100
7,141
7,197
NTPC
150
154
157
161
163
ONGC
149
152
155
159
161
POWERGRID
184
189
192
196
199
RELIANCE
1,283
1,302
1,331
1,350
1,378
SBIN
289
294
297
302
306
SUNPHARMA
458
461
466
469
473
TCS
1,955
1,998
2,033
2,076
2,111
TATAMOTORS
176
178
180
182
183
TATASTEEL
508
512
516
520
525
TECHM
777
788
798
809
818
TITAN
1,066
1,082
1,098
1,113
1,129
ULTRACEMCO
3,852
3,884
3,937
3,969
4,022
UPL
892
908
918
934
944
VEDANTA
168
172
174
178
180
WIPRO
255
259
262
266
269
YESBANK
238
241
247
251
256
ZEEL
426
440
455
469
484
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Technical & Derivatives Report
March 18, 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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