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Technical & Derivatives Report
November 20, 2019
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Sensex (
40470
(1
1940
)
We had a positive start yesterday as indicated by the SGX Nifty
early in the morning. However, similar to Monday’s session, Nifty
gave up this opening lead in first 40 45 minutes of trade.
Fortunately, the buyers were all prepared to capitalise on this
opportunity and hence, due to sustained buying, we saw Nifty
successfully conquering the recent hurdle of 11900 on a closing
basis by adding nearly half a percent to the bulls’ kitty.
With reference to our previous article, we have been quite upbeat
on the market and have been advising buying in any intraday
declines that market is offering since last few days. Yesterday too,
we saw similar thing working well for us and as expected Nifty
finally managed to surpass the first hurdle of 11900 on a closing
basis. The major charioteer for this move was clearly the banking
pack which has been showing some encouraging signs since
couple of days. The way both indices are shaped up, 12000 or
beyond is not too far now for our markets. Hence, we remain
sanguine and expect the immediate support base to shift higher
towards 11867 – 11802.
Key Levels
Support 1 – 11867 Resistance 1 – 12000
Support 2 – 11802 Resistance 2 – 12103
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
31236
)
Post opening on a flat note, the banking space continued its
positive momentum throughout the day and ended the session
above 31200. The BankNifty continued its upmove yesterday and
surpassed the hurdle of 31200 to end the day above it.
Yesterday's session clearly belonged to the PSU banking names as
the beaten down names within this space witnessed sharp
upmove. Infact, the Nifty PSU Bank index was the most
outperforming sectoral index with gains of almost 4%. Going
ahead, we continue with our positive stance on this sector and
advise traders to look for buying opportunities. We expect
BankNifty to rally towards its potential target zone around 31600-
31700. On the flipside, 30900 and 30500 are seen as
immediate supports.
Key Levels
Support 1 – 30900 Resistance 1 – 31600
Support 2 – 30500 Resistance 2 – 31700
Exhibit 2: Nifty Bank Daily Chart
It is observed since last few days t
hat market is giving high
regards to individual themes that are playing out well in the
market. On Friday as well as on Monday, it was the Metal and
Pharma counters that kept shining and yesterday the day
clearly belonged to the PSU Banking names who gave a
stupendous move. Such themes are likely to continue and
hence, traders should look to identify them slightly early to take
the benefit of early entrance.
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Nifty Vs OI
Views
We had a positive start for the day but index couldn’t
sustain at higher levels and corrected below 11900
mark in the early morning trade. Thereafter, we
witnessed some buying from the lower levels to bring
index in the positive trajectory once again and
eventually Nifty managed to conclude the session
almost half a percent higher.
FIIs were net sellers in the cash market segment to the
tune of Rs. 915 cr. In index futures, they sold
marginally with good amount of rise in open interest,
indicating formation of mixed positions in the previous
trading session.
As far as open interest activities in index futures is
concerned, we saw addition of fresh longs for both
Nifty as well as BankNifty. In addition, good amount of
longs rolled over in November series are still intact in
the system. Yesterday, call writers of 11900-12000
looked intimated and hence covered their positions.
Considering the overall positions, we maintain our
optimistic stance on the market and would advise
traders to use intraday dip to add-on fresh longs.
Comments
The Nifty futures open interest has increased by 1.63%
Bank Nifty futures open interest has increased 7.05% as
market closed at 11940.10 levels.
The Nifty November future closed with a premium of
29.05 points against a premium of 36.40 points in last
trading session. The December series closed at a
premium of 77.90 points.
The INDIA VIX has decreased from 15.75 to 15.41.
At the same time, the PCR-OI of Nifty has increased from
1.32 to 1.46.
Few of the liquid counters where we have seen high cost
of carry are IDEA, DISHTV, BANKINDIA, GMRINFRA and
UNIONBANK.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CASTROLIND 5423700 14.52 153.55 6.42
TATAELXSI 1081800 13.04 809.70 2.30
MUTHOOTFIN 3652500 9.00 708.15 -0.46
CANBK 15549800 8.99 221.15 4.77
ZEEL 34035400 7.79 285.85 -2.83
TORNTPHARM 312500 6.84 1759.05 -0.92
HEROMOTOCO 3891600 6.54 2468.95 -1.35
BHEL 60937200 6.20 55.65 3.14
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GLENMARK 6561400 -14.27 350.50 -4.02
POWERGRID 32544000 -11.23 195.45 2.33
JUSTDIAL 2990400 -8.52 560.15 6.09
BANKINDIA 17118000 -8.29 74.10 4.27
IGL 5546750 -6.10 417.90 0.14
CIPLA 13766600 -5.94 472.10 2.30
CHOLAFIN 4720000 -5.69 325.40 -1.27
IDEA 749826000 -4.67 6.05 35.56
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.46 0.91
BANKNIFTY 1.38 0.86
RELIANCE 0.85 0.42
ICICIBANK 0.72 0.62
INFY 0.54 0.38
Historical Volatility
SCRIP HV
UNIONBANK 61.05
IDEA 251.42
CASTROLIND 50.85
BHARTIARTL 63.74
INFRATEL 91.43
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November 20, 2019
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot
=
11
940.10
Lot Size = 75
FII Statistics for
November
19, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
2807.19 2870.18 (62.99) 222682 18434.54 3.63
INDEX
OPTIONS
193738.50 192689.94 1048.56
677464 56290.40 3.69
STOCK
FUTURES
11382.48 11597.06 (214.58) 1568839 92513.09 (0.05)
STOCK
OPTIONS
5861.66 5756.09 105.57
93912 5403.24 0.57
Total 213789.83
212913.27
876.56
2562897
172641.27
1.25
Turnover on
November
19
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
274429 20053.61 23.04
INDEX
OPTIONS
12184066 863031.63 32.66
STOCK
FUTURES
825621 46298.96 12.86
STOCK
OPTIONS
924953 56540.69 24.60
TOTAL 1,42,09,069
985924.89 30.89
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11900 135.65
56.95 43.05 11956.95
Sell 12000 78.70
Buy 11900 135.65
96.15 103.85 11996.15
Sell 12100 39.50
Buy 12000 78.70
39.20 60.80 12039.20
Sell 12100 39.50
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11900 67.10
25.95 74.05 11874.05
Sell 11800 41.15
Buy 11900 67.10
42.35 157.65 11857.65
Sell 11700 24.75
Buy 11800 41.15
16.40 83.60 11783.60
Sell 11700 24.75
Nifty Put-Call Analysis
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Da
ily
Pivot
Levels for Nifty Cons
tituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 358 361
365 368 371
ASIANPAINT 1,700 1,711
1,729 1,740 1,759
AXISBANK 716 732
741 757 766
BAJAJ-AUTO 3,102 3,132
3,152 3,181 3,201
BAJFINANCE 4,092 4,114
4,148 4,170 4,204
BAJAJFINSV 9,013 9,083
9,136 9,206 9,259
BPCL 510 514
518 523 527
BHARTIARTL 411 425
435 450 460
INFRATEL 214 232
246 264 278
BRITANNIA 3,081 3,101
3,130 3,149 3,178
CIPLA 452 462
470 480 488
COALINDIA 197 198
200 201 203
DRREDDY 2,707 2,725
2,743 2,761 2,779
EICHERMOT 21,281 21,514
21,657 21,890 22,033
GAIL 122 124
125 126 127
GRASIM 762 774
784 796 805
HCLTECH 1,121 1,128
1,136 1,143 1,150
HDFCBANK 1,255 1,264
1,269 1,278 1,283
HDFC 2,181 2,197
2,218 2,233 2,254
HEROMOTOCO 2,427 2,448
2,484 2,505 2,541
HINDALCO 189 191
192 194 196
HINDUNILVR 2,013 2,025
2,043 2,055 2,073
ICICIBANK 483 488
495 500 507
IOC 131 132
133 134 135
INDUSINDBK 1,358 1,375
1,392 1,410 1,427
INFY 702 707
711 716 720
ITC 247 248
250 251 253
JSW STEEL 244 246
248 250 253
KOTAKBANK 1,606 1,615
1,623 1,632 1,640
LT 1,352 1,359
1,368 1,375 1,385
M&M 550 555
565 571 580
MARUTI 6,954 7,000
7,077 7,123 7,200
NESTLEIND 13,911 14,014
14,113 14,216 14,315
NTPC 116 117
117 118 119
ONGC 131 132
134 135 136
POWERGRID 188 192
194 198 200
RELIANCE 1,447 1,478
1,497 1,528 1,546
SBIN 318 324
328 334 338
SUNPHARMA 418 422
426 430 434
TCS 2,073 2,091
2,123 2,141 2,172
TATAMOTORS 164 166
169 171 174
TATASTEEL 391 396
406 411 420
TECHM 746 755
760 769 774
TITAN 1,147 1,155
1,161 1,170 1,176
ULTRACEMCO 4,060 4,080
4,105 4,125 4,150
UPL 530 541
549 559 567
VEDANTA 139 140
142 144 146
WIPRO 246 248
250 252 253
YESBANK 61 62
65 67 69
ZEEL 276 281
287 292 299
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November 20, 2019
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*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.co
m
For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.desk@angelbroking.com
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