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Technical & Derivatives Report
December 19, 2019
Sensex (
41559
) / Nifty
2222
)
Tuesday’s strong close was followed by a gap up opening
yesterday as indicated by the SGX Nifty early in the morning.
During the remaining part of the day, index maintained its
positive posture as we saw series of ‘Higher Highs Higher Lows’
on intraday time frame. In last couple of hours, the buying
momentum accelerated a bit and as a result, the Nifty went on to
post highest ever close well above the 12200 mark.
If we refer to our last Friday’s commentary, we were clearly
anticipating a new high in this week and expected Nifty to head
towards its near term target of 12250 12300. With yesterday’s
strong close, the index is almost there now and we will not be
surprised to see it testing mentioned levels in the forthcoming
session. The Christmas party began for the bulls last week and
the index is all set to have highest ever closing to see off 2019
with a bang. For the coming session, the support will now be
seen at 12200 12163. Any decline in the mentioned zone is
likely to get bought into and hence, traders are advised to
continue with an optimistic stance and keep focusing on potential
candidates who are gearing up for strong moves in coming days.
Key Levels
Support 1 – 12200 Resistance 1 – 12250
Support 2 – 12163 Resistance 2 – 12300
Exhibit 1: Nifty Daily Chart
Nifty Bank Outl
ook
-
(
32244
)
Bank Nifty witnessed a gap up opening which was followed by
profit booking in the first hour. However, this profit booking was
short-lived as the bank index then resumed its uptrend and
gradually moved higher during the remaining part of the session.
Bank Index eventually ended with gains of 0.32% at 32244.
Yesterday, it was more of a stock-specific session with some of
the heavyweight private banks pushed the Index higher whereas
the PSU banks were the draggers. Going ahead the bias remains
positive on the Index with next projected targets at 32470-32600
levels. Traders are hence advised to avoid contra bets and instead
have a stocks-specific approach which are giving outperforming
opportunities. Immediate support levels are placed at 32010 and
31890 levels.
Key Levels
Support 1 – 32010 Resistance 1 – 32470
Support 2 – 31890 Resistance 2 – 32600
Exhibit 2: Nifty Bank Daily Chart
Sectorally it was a broad based rally in our markets and we
expect this breadth to improve further as we see index entering
into an uncharted territory. Although, TATA Group stock saw
some beating in the final half an hour on the back some
unfavourable news flow; in our sense, it’s merely a profit booking
before resuming their uptrend.
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Technical & Derivatives Report
December 19, 2019
Nifty Vs OI
Views
Post a strong up move on Tuesday, we began
yesterday’s session with an upside gap. During the day,
index remained strong and any intraday dip was being
bought into. Eventually, Nifty concluded the session tad
above 12200 mark with the gains of another 0.47%.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1837 crores. In index futures, they bought
worth Rs. 667 crores with marginal change in open
interest, suggesting blend of both long and short
covering in the last trading session.
In the correction seen during the initial part of the
December series from 12150-11800, we hardly saw
any short formation and in the recovery seen recently
good amount of buying interest was seen in index
futures segment. Yesterday, we saw fresh writing in
12150-12250 put options along with unwinding in
OTM call strike 12500. Considering the above data
points, we maintain our optimistic stance on market
and hence, would advise traders to use intraday
declines to add-on fresh longs.
Comments
The Nifty futures open interest has increased by 1.84%
Bank Nifty futures open interest has increased 3.80% as
market closed at 12221.65 levels.
The Nifty December future closed with a premium of
21.50 points against a premium of 22.15 points in last
trading session. The January series closed at a premium
of 75.65 points.
The INDIA VIX has decreased from 12.51 to 12.33.
At the same time, the PCR-OI of Nifty has increased from
1.67 to 1.73.
Few of the liquid counters where we have seen high cost
of carry are EICHERMOT, IDEA, MFSL, GMRINFRA and
NMDC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TATAELXSI 1408200 19.81 868.40 1.26
MFSL 9745600 18.83 533.15 4.67
MINDTREE 1294600 14.34 766.85 -0.82
VOLTAS 3925000 13.64 654.15 -2.47
SUNTV 3907000 11.69 444.10 -2.89
NATIONALUM 58565900 11.43 42.40 -0.23
NMDC 25314000 10.91 119.95 2.34
HINDUNILVR 10205700 9.67 1928.55 -1.67
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
APOLLOHOSP 2206500 -10.58 1384.85 1.19
BHARTIARTL 45715998 -7.40 438.30 -0.53
JINDALSTEL 27118600 -6.80 146.05 0.10
IDEA 507304000 -5.85 6.40 -7.19
UNIONBANK 23331000 -5.66 56.55 -2.83
MARICO 12642500 -5.50 338.80 2.51
M&M 24834000 -5.22 522.65 3.00
DLF 36840000 -4.15 227.80 -1.10
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.73 1.06
BANKNIFTY 1.56 0.90
RELIANCE 0.57 0.51
ICICIBANK 1.04 0.86
INFY 0.72 0.55
Historical Volatility
SCRIP HV
PIDILITIND 24.13
TATAGLOBAL 37.73
M&M 30.59
MFSL 42.75
MARICO 26.84
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Technical & Derivatives Report
December 19, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot
=
12
221.65
Lot Size = 75
FII Statistics for
December
18
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3423.01 2755.55 667.46
174633 15189.87 0.16
INDEX
OPTIONS
253759.37 254671.72 (912.35) 610118 53136.93 (0.54)
STOCK
FUTURES
12533.57 12325.46 208.11
1607530 97938.62 0.82
STOCK
OPTIONS
4954.66 5019.25 (64.59) 66529 3780.26 0.14
Total 274670.61
274771.98
(101.37) 2458810
170045.68
0.41
Turnover on
December
18
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
220523 17146.56 9.52
INDEX
OPTIONS
11862070 877658.22 14.86
STOCK
FUTURES
868060 52616.58 36.65
STOCK
OPTIONS
823821 52535.08 17.92
TOTAL 1,37,74,474
999956.44 15.89
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12200 97.45
51.25 48.75 12251.25
Sell 12300 46.20
Buy 12200 97.45
80.20 119.80 12280.20
Sell 12400 17.25
Buy 12300 46.20
28.95 71.05 12328.95
Sell 12400 17.25
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12200 56.50
26.15 73.85 12173.85
Sell 12100 30.35
Buy 12200 56.50
38.55 161.45 12161.45
Sell 12000 17.95
Buy 12100 30.35
12.40 87.60 12087.60
Sell 12000 17.95
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 19, 2019
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 366 370
373 377 380
ASIANPAINT 1,716 1,747
1,765 1,796 1,813
AXISBANK 732 737
743 748 754
BAJAJ-AUTO 3,181 3,197
3,209 3,225 3,236
BAJFINANCE 4,069 4,094
4,126 4,152 4,184
BAJAJFINSV 9,276 9,319
9,370 9,414 9,464
BPCL 482 485
492 496 502
BHARTIARTL 427 433
440 446 453
INFRATEL 243 247
250 253 257
BRITANNIA 3,023 3,061
3,091 3,129 3,159
CIPLA 458 463
466 471 474
COALINDIA 193 196
197 199 201
DRREDDY 2,810 2,842
2,859 2,891 2,908
EICHERMOT 21,152 21,444
21,708 22,000 22,265
GAIL 114 116
118 120 122
GRASIM 736 745
761 770 786
HCLTECH 556 560
564 568 572
HDFCBANK 1,263 1,278
1,288 1,303 1,314
HDFC 2,397 2,421
2,440 2,464 2,484
HEROMOTOCO 2,277 2,295
2,307 2,325 2,337
HINDALCO 210 212
214 215 217
HINDUNILVR 1,875 1,902
1,934 1,961 1,993
ICICIBANK 533 537
540 544 547
IOC 124 125
126 127 127
INDUSINDBK 1,484 1,493
1,498 1,507 1,512
INFY 716 724
731 739 745
ITC 236 241
244 248 252
JSW STEEL 252 258
262 268 272
KOTAKBANK 1,699 1,712
1,719 1,731 1,739
LT 1,309 1,314
1,320 1,325 1,331
M&M 500 511
518 530 536
MARUTI 7,129 7,185
7,220 7,276 7,311
NESTLEIND 13,951 14,071
14,176 14,296 14,400
NTPC 112 113
115 116 117
ONGC 123 124
125 126 126
POWERGRID 185 186
187 189 190
RELIANCE 1,555 1,565
1,573 1,583 1,591
SBIN 320 323
329 333 339
SUNPHARMA 422 431
436 445 450
TCS 2,124 2,146
2,175 2,196 2,225
TATAMOTORS 163 169
177 183 191
TATASTEEL 426 436
445 454 464
TECHM 773 780
787 794 801
TITAN 1,142 1,151
1,159 1,168 1,176
ULTRACEMCO 4,009 4,037
4,079 4,107 4,148
UPL 553 560
566 572 578
VEDANTA 149 151
152 154 156
WIPRO 244 246
248 250 252
YESBANK 45 46
47 48 49
ZEEL 271 275
278 283 286
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Technical & Derivatives Report
December 19, 2019
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch[email protected]elbroking.com
For Derivatives Queries E-mail: derivatives.[email protected]angelbroking.com
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