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Technical & Derivatives Report
May 18, 2020
Nifty
Bank Out
-
(
1
8834
)
Bank Nifty as well consolidated within a broad range and ended
the week with a loss of 2.68% against the previous close.
During the week gone by, the bank index failed to hold at higher
levels at around 20000 mark however managed to hold the key
support at around 18000. Going ahead, the bank index may
continue to consolidate within this broad range and the next
directional move can only be seen on a breakout from the above-
mentioned levels. Traders are advised to have a stock-specific
approach with proper exit setup. Immediate support is placed
around 18350 whereas immediate resistance is placed around
19200.
Key Levels
Support 1 – 18350 Resistance 1 – 19200
Support 2 – 18000 Resistance 2 – 20000
Exhibit 1: Nifty Daily Chart
Sensex (31098) / Nifty (9137)
It was clearly a week of consolidation despite PM Modi
announcing a gargantuan stimulus package of 20 Lac crores.
There was initial reaction seen at the opening on Wednesday; but
didn’t have enough strength to buck the global trend. We kept
sliding gradually throughout the remaining part of the week to
eventually close with a cut of a percent as compared to the
previous weekly close.
It was disappointing to see our markets failing at higher levels
despite such a massive trigger. Hence, it is clear now, market
participants are focusing more on global developments and if
market needs to see some uptick in the market, we must have
some relief with respect to US-China trade deal as well as the
Coronavirus pandemic. Till then Nifty is likely to remain in the
range of 9500-9000. In last couple of weeks, we have seen bears
respecting the key support of 9000 and every time we move closer
to it, some buying tends to emerge. Hence, till the time we are
holding 9000, the bulls should remain hopeful; whereas on the
other side, it would be important to see whether we break the
higher boundary or not.
At this juncture, the pragmatic approach would be to stay light
within the range and should focus more on potential movers.
Despite market remaining in a range, we have seen good trading
opportunities in few individual pockets.
Key Levels
Support 1 – 9100 Resistance 1 – 9270
Support 2 – 9000 Resistance 2 – 9350
Exhibit 2: Nifty Bank Daily Chart
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May 18, 2020
Nifty Vs OI
8600
8800
9000
9200
9400
9600
9800
10000
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
4/284/294/30 5/4 5/5 5/6 5/7 5/8 5/115/125/135/145/15
(`000)
Openinterest Nifty
V
iew
s
The indices witnessed some pullback move during the
week post the announcement of the Covid relief
package by the Prime Minister. However, there was no
follow up buying seen after a gap up opening on
Wednesday and Nifty again corrected to end the week
with a loss of about seven-tenths of a percent.
FIIs were net sellers in the cash market segment to the
tune of Rs. 2388 crores. In index futures, they sold worth
620 crores with a increase in open interest, indicating
shorts created and longs unwinded on Friday.
During the last week, FII’s squared off their long
positions in index futures segment and formed some
short positions as well. Due to this, their ‘Long Short
Ratio’ now stands at 34 percent. As far as Nifty options
activities for the week are concerned, we witnessed
some open interest addition in 9300-9500 call options.
On the flipside, 8800-8600 put options saw some open
interest additions as well. Maximum open interest for
the May monthly series now stands at 10000 call option
and 9000 put option. The options data hints at a
continuation of the consolidation within the range of
9000-9500. Hence, traders are advised to trade with a
stock specific approach till the index trades within the
range.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 3.33%
Bank Nifty futures open interest has increased by 11.17%
as market closed at 9136.85 levels.
The Nifty May future closed with a premium of 0.25 point
against a premium of 1.15 point in last trading session.
The June series closed at a premium of 1.7 points.
The INDIA VIX has decrease from 38.18 to 38.01
At the same time, the PCR-OI of Nifty increased from 0.88
to 1.11.
Few of the liquid counters where we have seen high cost
of carry are, IDEA, YESBANK, BHEL, BANDHANBNK and
RELIANCE.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CUMMINSIND 1880100 28.47 338.35 -2.43
UBL 950600 19.12 914.40 -2.48
EQUITAS 7728800 18.48 49.85 -4.24
PVR 1616800 16.15 853.25 -5.04
ESCORTS 2758800 15.68 823.60 3.46
MUTHOOTFIN 1905000 9.20 819.85 0.34
UJJIVAN 3766100 8.98 167.55 -3.26
RELIANCE 29219300 8.33 1459.40 1.86
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
APOLLOHOSP 905000 -12.39 1355.30 4.35
RAMCOCEM 465600 -11.82 575.25 4.53
JUSTDIAL 1720600 -9.23 350.25 -2.36
INFRATEL 7684000 -8.48 202.50 -3.50
BEL 26196400 -7.09 67.75 6.28
BATAINDIA 1254000 -6.75 1335.00 -2.35
GODREJPROP 295100 -6.39 624.10 -4.04
TORNTPOWER 2088000 -6.07 304.60 -0.05
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.11 0.77
BANKNIFTY 0.65 0.75
RELIANCE 0.61 0.50
ICICIBANK 0.37 0.47
INFY 0.47 0.64
Historical Volatility
SCRIP HV
BEL 84.77
APOLLOHOSP 71.01
RAMCOCEM 71.34
DABUR 53.71
SIEMENS 54.09
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Technical & Derivatives Report
May 18, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Spot =
9136.85
FII Statistics for May 15, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
4079.20
4699.06
(619.86) 88292
5184.68
5.96
INDEX
OPTIONS
86838.36
86026.72
811.64
506452
32285.43
8.19
STOCK
FUTURES
12333.81
12652.60
(318.79) 1536199
74649.68
(0.36)
STOCK
OPTIONS
2754.26
2906.67
(152.41) 65691
3324.30
12.91
Total 106005.63
106285.05
(279.42) 2196634
115444.09
2.11
Turnover on May 15, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,20,079 26325.02 -9.02
Index Options 86,72,303 4,49,154.65 -80.15
Stock Futures 8,33,318 42295.40 -9.65
Stock Options 7,89,776 44110.79 0.74
Total 1,08,15,476
5,61,885.86 -76.41
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9200 215.55
44.65 55.35 9244.65
Sell 9300 170.90
Buy 9200 215.55
82.10 117.90 9282.10
Sell 9400 133.45
Buy 9300 170.90
37.45 62.55 9337.45
Sell 9400 133.45
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9100 227.75
43.95 56.05 9056.05
Sell 9000 183.80
Buy 9100 227.75
80.25 119.75 9019.75
Sell 8900 147.50
Buy 9000 183.80
36.30 63.70 8963.70
Sell 8900 147.50
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700 9800
Call Put
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Technical & Derivatives Report
May 18, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
302
306
309
312
316
ASIANPAINT 1,491 1,522
1,541
1,572
1,591
AXISBANK
376
382
393
399
410
BAJAJ-AUTO 2,615 2,639
2,675
2,699
2,735
BAJFINANCE 2,012 2,049
2,093
2,130
2,174
BAJAJFINSV 4,620 4,672
4,753
4,804
4,885
BPCL
305
311
318
325
331
BHARTIARTL
533
543
550
561
568
INFRATEL
197
200
204
206
210
BRITANNIA 3,065 3,095
3,146
3,176
3,227
CIPLA
554
562
574
582
593
COALINDIA
126
128
129
131
133
DRREDDY 3,682 3,708
3,744
3,770
3,806
EICHERMOT 13,434
13,767
13,983
14,316
14,532
GAIL
84
85
86
87
88
GRASIM
506
512
516
522
526
HCLTECH
499
505
511
518
524
HDFCBANK
868
878
885
895
903
HDFC 1,585 1,609
1,634
1,658
1,682
HEROMOTOCO
2,125
2,159
2,204
2,238
2,283
HINDALCO
116
117
119
121
123
HINDUNILVR 1,994 2,013
2,025
2,045
2,057
ICICIBANK
312
317
324
329
336
IOC
75
75
76
76
77
INDUSINDBK
408
414
422
427
436
INFY
637
644
655
663
673
ITC
159
162
164
166
168
JSW STEEL
170
172
176
178
182
KOTAKBANK 1,138 1,158
1,174
1,194
1,210
LT
837
851
868
882
899
M&M
355
368
386
399
417
MARUTI 4,900 5,000
5,062
5,162
5,224
NESTLEIND 16,051
16,247
16,399
16,595
16,747
NTPC
88
89
91
92
93
ONGC
74
75
77
78
79
POWERGRID
156
158
160
162
163
RELIANCE 1,395 1,427
1,447
1,479
1,499
SHREECEM 18,433
18,807
19,185
19,559
19,937
SBIN
163
165
166
168
170
SUNPHARMA
438
443
451
456
464
TCS 1,840 1,866
1,892
1,918
1,944
TATAMOTORS
82
83
84
86
87
TATASTEEL
265
269
273
277
281
TECHM
500
505
513
518
525
TITAN
831
838
849
856
867
ULTRACEMCO 3,506 3,544
3,587
3,625
3,668
UPL
367
373
383
389
400
VEDANTA
85
89
92
96
100
WIPRO
181
182
184
186
188
ZEEL
157
160
166
170
176
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Technical & Derivatives Report
May 18, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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