Technical & Derivatives Report
September 18, 2018
Sensex (37586) / Nifty (11378)
Exhibit 1: Nifty Daily Chart
The currency worries once again spooked the traders’ sentiments
after two days of pause. We started the proceedings with a
downside gap and then a sustained selling throughout the
remaining part of the day resulted into a sharp cut of nearly
1.20% from the Friday’s close. But fortunately, there was no
broad based sell off being witnessed and very seldom we see
such kind of development where only some heavyweight
constituents were feeling the heat.
Let us first admit the fact that yesterday’s move was no way near
to our expectations. Friday’s smart recovery beyond
11500
indicated extension of the move in the forthcoming sessions. But
the reality was exactly opposite of what ideally should have been
the case. Anyways, we need to eventually accept what market
does considering its supremacy. Since, our inclination is still on
the positive side, we can construe yesterday’s correction as a pull
back and currently the index is placed in the vicinity of 50% and
Yesterday despite heavyweight stocks were under tremendous
61.8%Fibonacci retracement of last two days’ up move. Further,
stress, OMC’s were clearly bucking the trend as if they were not
the gap area created on Friday has also been filled and hence,
at all bother what benchmark index is doing. In addition, ‘Nifty
going ahead, it would be very important to see how market
Metal’ is interestingly poised along with the ‘Nifty Midcap’
behaves around this key support area of 11380 - 11360. After
basket. Hence, do watch out for these names which may offer
this, next support zone would be seen around 11320 - 11300.
better trading opportunities.
On the upside, 11420 is the level to watch out for. If we consider
yesterday’s correction as a pull back, today, a move beyond
Key Levels
11420 would trigger strong optimism in the market and in this
Support 1 - 11360
Resistance 1 -
11420
case, we would see index marching back to its Friday’s levels of
Support 2 - 11300
Resistance 2 -
11480
11480 - 11524.
Nifty Bank Outlook - (26820)
Exhibit 2: Nifty Bank Daily Chart
On the back of negative global cues, the Nifty Bank index too
opened gap down yesterday. Post forming an open high same
around the 27000 mark, the index corrected throughout the day
and ended the session with a loss of about 1.26 percent.
In this calendar month, the Nifty Bank index has corrected from its
recent high of 28389 and the down move is of impulsive in
nature. Post the firm closing on Friday, we had expected the index
to retrace around 38.2% or 50% and then resume the correction.
However, the index resumed the down move yesterday itself which
indicates the weakness in heavyweights within the sector. Hence,
traders are advised to avoid aggressive bets amongst the banking
and financial names. As far as levels are concerned, last week's
low of the Hammer pattern at 26555 is seen as immediate
support while the swing high of 27206 will be seen as near-term
resistance.
Key Levels
Support 1 - 26660
Resistance 1 -
27000
Support 2 - 26555
Resistance 2 -
27206
www.angelbroking.com
Technical & Derivatives Report
September 18, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.71%
Bank Nifty futures open interest has increased by 4.64%
as market closed at 11377.75 levels.
The Nifty September future closed with a premium of
29.95 points against a premium of 32.10 points in last
trading session. The October series closed at a premium
of 67.90 points.
The INDIA VIX has increased from 13.84 to 14.49. At the
same time, the PCR-OI of Nifty has decreased from 1.38
to 1.28.
Few of the liquid counters where we have seen high cost
of carry are OFSS, KSCL, ICICIPRULI, ENGINERSIN and
GODREJIND.
Views
FIIs were net sellers in cash market segment to the tune
of Rs. 107 crores. At the same time, they sold worth
OI Gainers
Rs. 617 crores in index futures with rise in open interest,
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating short formation took place on yesterday’s
OFSS
358050
28.61
4489.70
5.76
trading session
KSCL
979500
18.08
644.40
2.03
In options front, they sold worth Rs. 1320 crores with
ICICIPRULI
5016700
12.34
362.45
-3.95
marginal change in open interest. As far as Nifty options
ENGINERSIN
13566000
10.21
135.80
2.90
activities are considered, we saw fresh build-up in
GODREJIND
2001000
8.72
575.45
-2.45
11400-11600 call options. On the flip side, except for
MANAPPURAM
23898000
8.00
85.20
-3.72
some OI addition in 11300 strike, 11400-11600 put
ALBK
18513000
7.33
40.80
0.00
strikes shed decent positions. Maximum open interest for
September series is placed at 11800 followed by 11600
BATAINDIA
1943700
6.51
997.00
-4.28
call and 11400 followed by 11000 put options.
Post stronger upmove on Friday, we witnessed gap down
OI Losers
opening on Monday mainly due to depreciating home
OI
PRICE
currency. Our market remained under pressure
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
throughout the day to conclude the session tad below
BALRAMCHIN
11319000
-33.40
95.70
7.28
11400 mark. In index futures segment, we hardly saw
DIVISLAB
2567200
-12.89
1364.70
2.55
any relevant OI change in yesterday’s declines for Nifty;
DABUR
14435000
-7.32
461.85
-1.44
however, shorts were added in the banking index. We
BHARATFIN
4340500
-5.83
1160.20
1.01
saw decent long rollovers in September series; which are
CANFINHOME
4050000
-4.26
324.25
4.09
still in system. At present, around 11400 is a crucial
PCJEWELLER
10477500
-4.04
83.65
2.20
support zone, one should wait a watch for action at these
HAVELLS
4311000
-3.88
666.90
0.89
levels before taking any fresh directional trade.
CAPF
5333600
-3.78
601.70
-1.01
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
OFSS
37.32
NIFTY
1.28
0.84
SUZLON
58.19
BANKNIFTY
0.84
0.84
BATAINDIA
38.17
RELIANCE
0.49
0.59
MRPL
52.97
ICICIBANK
0.44
0.78
ICICIPRULI
41.48
INFY
0.47
0.45
www.angelbroking.com
Technical & Derivatives Report
September 18, 2018
FII Statistics for September 17, 2018
Turnover on September 17, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2659.49
3276.10
(616.60)
291253
24871.02
1.56
223569
21057.00
11.57
FUTURES
FUTURES
INDEX
INDEX
95767.75
97087.53
(1319.78)
950096
83898.56
(0.20)
6513971
662186.89
37.27
OPTIONS
OPTIONS
STOCK
11152.67
11881.53
(728.86)
1209163
89916.68
0.50
STOCK
FUTURES
768513
54499.55
-4.86
FUTURES
STOCK
STOCK
10304.35
10204.50
99.85
131498
9745.45
3.60
725005
56843.98
5.44
OPTIONS
OPTIONS
Total
119884.25
122449.65
(2565.40)
2582010
208431.70
0.51
TOTAL
8231058
794587.42
29.74
Nifty Spot = 11377.75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11400
106.20
Buy
11500
97.35
45.20
54.80
11445.20
36.60
63.40
11463.40
Sell
11500
61.00
Sell
11400
60.75
Buy
11400
106.20
Buy
11500
97.35
74.45
125.55
11474.45
59.80
140.20
11440.20
Sell
11600
31.75
Sell
11300
37.55
Buy
11500
61.00
Buy
11400
60.75
29.25
70.75
11529.25
23.20
76.80
11376.80
Sell
11600
31.75
Sell
11300
37.55
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
September 18, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
373
377
380
384
388
ASIANPAINT
1,286
1,297
1,314
1,325
1,341
AXISBANK
615
621
627
633
639
BAJAJ-AUTO
2,820
2,841
2,860
2,880
2,900
BAJFINANCE
2,546
2,575
2,618
2,647
2,689
BAJAJFINSV
6,423
6,487
6,593
6,657
6,763
BPCL
341
352
360
371
379
BHARTIARTL
369
376
383
390
397
INFRATEL
260
264
269
273
278
CIPLA
654
659
666
672
679
COALINDIA
271
273
275
278
280
DRREDDY
2,510
2,539
2,577
2,606
2,644
EICHERMOT
28,931
29,297
29,539
29,905
30,147
GAIL
363
368
371
376
379
GRASIM
1,028
1,046
1,063
1,082
1,098
HCLTECH
1,063
1,071
1,078
1,085
1,092
HDFCBANK
1,966
1,979
2,001
2,014
2,036
HDFC
1,848
1,863
1,887
1,902
1,926
HEROMOTOCO
3,070
3,099
3,139
3,169
3,209
HINDALCO
237
239
243
245
248
HINDPETRO
243
251
256
263
268
HINDUNILVR
1,578
1,592
1,609
1,623
1,640
IBULHSGFIN
1,169
1,185
1,203
1,219
1,238
ICICIBANK
319
322
325
328
331
IOC
150
153
156
159
162
INDUSINDBK
1,837
1,857
1,869
1,889
1,901
INFY
715
720
730
736
746
ITC
299
300
303
305
308
KOTAKBANK
1,213
1,222
1,230
1,239
1,248
LT
1,332
1,338
1,346
1,353
1,360
LUPIN
925
938
958
970
990
M&M
928
940
948
959
968
MARUTI
8,429
8,483
8,572
8,626
8,714
NTPC
169
170
173
175
177
ONGC
169
170
172
173
175
POWERGRID
195
198
201
205
207
RELIANCE
1,204
1,215
1,233
1,244
1,262
SBIN
282
283
286
288
290
SUNPHARMA
629
638
653
662
677
TCS
2,046
2,060
2,069
2,083
2,092
TATAMOTORS
257
259
261
263
266
TATASTEEL
597
607
615
625
634
TECHM
747
757
765
775
783
TITAN
805
814
826
835
847
ULTRACEMCO
4,039
4,071
4,123
4,155
4,207
UPL
713
718
727
732
741
VEDANTA
229
232
235
238
241
WIPRO
323
327
331
335
339
YESBANK
313
316
319
322
325
ZEEL
461
468
473
481
486
www.angelbroking.com
Technical & Derivatives Report
September 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]
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company cove*ed by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.
www.angelbroking.com