Technical & Derivatives Report
June 18, 2018
Sensex (35622) / Nifty (10818)
Exhibit 1: Nifty Daily Chart
In the week gone by, despite index giving swings on either sides,
overall we can interpret this as a consolidation. There was only
one sector that stood out throughout the week and has given
some eye-popping moves i.e. the ‘Pharmaceutical’ space. The
move was satisfying for us as we have been quite vocal about
‘Nifty Pharma’ getting bottomed out since last three weeks. The
anticipation has now turned into a confirmation and hence,
medium term traders are advised to focus on this basket and
should continue accumulating marquee names on meaningful
dips.
As far as benchmark is concerned, we had a gradual move
towards the 10900 mark and since, most of the heavyweight
constituents have taken a back seat, index failed to surpass this
hurdle. The latter half traded with some weakness but market is
clearly lacking direction as well as the momentum. On the
downside, we would be closely tracking a crucial support zone of
10700 - 10650. Only a sustainable slide below this junction
would reinforce some weakness in the market. Till then this
consolidation continues and on the higher side, 10900 - 10920
would be seen as immediate hurdle.
At this juncture, traders should continue focusing on individual
stocks and should avoid aggressive bets until we see a decisive
breakout from this congestion zone in either direction.
Key Levels
Support 1 - 10750
Resistance 1 - 10900
Support 2 - 10700
Resistance 2 - 10920
Nifty Bank Outlook - (26417)
Exhibit 2: Nifty Bank Daily Chart
During the week gone by Bank Nifty Index consolidated in a
range (26765-26300) and ended with a minor loss of 0.13% on
week on week basis.
On Friday, weakness in Banking stocks led to a trend line
breakdown in Bank Nifty which had previous twice acted as
strong support. The fall was however restricted around 20DMA
placed around 26340 and hence we will have to see how prices
react around this level in this week. A close below 26340 may
drag Bank Nifty Index further lower towards 26180-26100 levels.
On the flip side, resistance is placed in the zone 26600-26720
levels.
Key Levels
Support 1 - 26340
Resistance 1 - 26600
Support 2 - 26180
Resistance 2 - 26720
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Technical & Derivatives Report
June 18, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.20%
BankNifty futures open interest has decreased by 2.79%
as market closed at 10817.70 levels.
The Nifty June future closed with a discount of 3.05
points against a premium of 5.85 points in last trading
session. The July series closed at a premium of 6.10
points.
The INDIA VIX has decreased from 12.09 to 12.07. At
the same time, the PCR-OI of Nifty increased from 1.55
to 1.57 level.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, NHPC, NATIONALUM,
CGPOWER and RAYMOND.
Views
FIIs were net sellers in cash market segment to the tune
OI Gainers
of Rs. 1525 crores. At the same time, they bought worth
OI
PRICE
Rs. 604 crores in index futures with rise in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating addition of fresh long positions on Friday’s
MRPL
12879000
44.40
89.00
-5.13
trading session.
TORNTPHARM
721500
30.59
1482.05
2.49
In index options front, they were net buyers of Rs. 3260
ADANIPORTS
15090000
13.67
372.95
-0.47
crores with rise in open interest. As far as Nifty options
BERGEPAINT
2468400
12.54
291.25
1.57
activities are concerned, 10800 and 11000 call options
ICICIPRULI
10959000
10.73
401.20
-0.82
added some positions; followed by unwinding in 10900
AJANTPHARM
1134500
9.88
1100.35
4.04
strike. On the flip side, we saw some build-up in 10800
ICICIBANK
105710000
9.16
282.50
-0.86
put options along with unwinding in
10500-10700
CESC
6259550
8.62
993.45
-0.66
strike. Now, the maximum open interest concentration
for June series stood at 11000 call and 10700 put
options.
OI Losers
The benchmark index rallied towards 10900 mark on
OI
PRICE
Wednesday; but, profit booking at higher levels dragged
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
index back to 10800 levels. Eventually, we concluded
GLENMARK
5363800
-22.69
586.75
0.38
the third consecutive week on a positive note. In last two
ORIENTBANK
15588000
-21.90
80.55
-3.42
trading session, we witnessed decent unwinding in
RAMCOCEM
931200
-12.94
730.90
0.56
10600-10800 put options; whereas, fresh writing was
STAR
5753800
-11.60
392.25
6.25
seen in 10800 and 11000 call options. At the same time,
HINDZINC
9404800
-9.51
304.30
0.58
stronger hands continued adding bearish bets in equities
JUBLFOOD
2191500
-8.37
2765.30
1.44
and index futures segment last week. Considering the
VEDL
53914000
-6.82
238.60
-0.85
above data points, we would advise traders to lighten up
MGL
1914000
-5.79
833.60
-0.41
their longs in system and prefer stock specific approach
for the time being.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
MRPL
40.75
NIFTY
1.57
0.99
APOLLOHOSP
50.02
BANKNIFTY
0.77
0.96
INFY
26.28
TATAMOTORS
0.43
0.51
CIPLA
36.70
RELIANCE
0.88
0.60
KAJARIACER
36.48
ICICIBANK
0.50
0.50
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Technical & Derivatives Report
June 18, 2018
FII Statistics for June 15, 2018
Turnover on June 15, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3890.45
3286.54
603.91
262517
22091.74
4.30
247880
22291.89
27.82
FUTURES
FUTURES
INDEX
INDEX
66213.36
62953.25
3260.11
857243
72101.48
4.19
4952720
465276.12
-64.58
OPTIONS
OPTIONS
STOCK
11724.60
11339.48
385.12
1213334
84852.86
0.78
STOCK
FUTURES
864946
58120.88
25.62
FUTURES
STOCK
STOCK
7690.67
7599.74
90.93
134626
9725.62
4.46
735649
53100.85
27.63
OPTIONS
OPTIONS
Total
89519.08
85179.01
4340.07
2467720
188771.70
2.51
TOTAL
6801195
598789.74
-57.80
Nifty Spot = 10817.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10800
91.65
Buy
10800
79.95
45.55
54.45
10845.55
33.60
66.40
10766.40
Sell
10900
46.10
Sell
10700
46.35
Buy
10800
91.65
Buy
10800
79.95
71.20
128.80
10871.20
52.65
147.35
10747.35
Sell
11000
20.45
Sell
10600
27.30
Buy
10900
46.10
Buy
10700
46.35
25.65
74.35
10925.65
19.05
80.95
10680.95
Sell
11000
20.45
Sell
10600
27.30
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
June 18, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
367
370
373
376
379
ASIANPAINT
1,260
1,271
1,279
1,290
1,298
AXISBANK
508
518
527
537
545
BAJAJ-AUTO
2,827
2,852
2,878
2,903
2,929
BAJFINANCE
2,208
2,246
2,269
2,306
2,329
BAJAJFINSV
5,878
5,929
5,981
6,031
6,084
BPCL
405
409
413
416
420
BHARTIARTL
366
372
376
382
386
INFRATEL
288
291
294
297
300
CIPLA
581
596
605
621
630
COALINDIA
272
276
281
285
290
DRREDDY
2,254
2,302
2,344
2,392
2,434
EICHERMOT
29,147
29,360
29,504
29,718
29,862
GAIL
328
332
337
340
345
GRASIM
1,012
1,022
1,028
1,038
1,045
HCLTECH
922
935
944
958
967
HDFCBANK
2,014
2,022
2,030
2,038
2,047
HDFC
1,803
1,818
1,842
1,856
1,880
HEROMOTOCO
3,627
3,660
3,685
3,719
3,744
HINDALCO
230
234
239
243
249
HINDPETRO
299
303
307
310
314
HINDUNILVR
1,575
1,598
1,613
1,637
1,652
IBULHSGFIN
1,161
1,176
1,189
1,204
1,218
ICICIBANK
275
279
284
287
292
IOC
164
166
169
171
173
INDUSINDBK
1,933
1,950
1,964
1,981
1,996
INFY
1,213
1,247
1,269
1,304
1,326
ITC
261
263
265
267
269
KOTAKBANK
1,313
1,327
1,336
1,349
1,358
LT
1,312
1,321
1,332
1,341
1,352
LUPIN
890
901
913
925
936
M&M
891
900
912
922
934
MARUTI
8,855
8,903
8,949
8,997
9,043
NTPC
152
154
156
158
161
ONGC
162
164
166
168
170
POWERGRID
195
196
198
199
200
RELIANCE
988
1,001
1,012
1,025
1,037
SBIN
272
275
279
282
286
SUNPHARMA
556
564
569
576
582
TCS
1,767
1,803
1,825
1,862
1,884
TATAMOTORS
297
300
304
307
311
TATASTEEL
555
560
568
573
580
TECHM
688
698
705
714
722
TITAN
888
896
906
914
925
ULTRACEMCO
3,598
3,645
3,719
3,765
3,839
UPL
677
689
698
710
719
VEDANTA
231
235
238
242
245
WIPRO
263
265
267
269
271
YESBANK
324
327
332
335
339
ZEEL
547
551
555
559
563
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Technical & Derivatives Report
June 18, 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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