Technical & Derivatives Report
May 21, 2019
Sensex (39353) / Nifty (11828)
Exhibit 1: Nifty Daily Chart
It is quite rare to see that no one is bothered what’s happening in
global markets and whether US President has sent any tweet or
not. Yesterday, it was all about our mega event and the result of
exit polls over the weekend. With almost all polls indicating NDA
government back in power with thumping majority, the market
overjoyed with this and had a massive bump up at the opening
well above the 11600 mark,. In the initial hour, there was mild
profit taking seen; but eventually this got bought into and index
went on register colossal rally of over three and half a percent to
the previous close.
Finally, traders’ / investors’ had something to cheer for and
although the final verdict is yet to come (slated on May 23),
markets took a huge leap after better than expected exit polls
results. Now, all eyes on the actual event on Thursday; but,
before this, the Nifty has managed to clock highest ever close on
daily chart. With almost all other pockets contributing heavily, we
In-line with our expectations, the positive outcome resulted into
expect this rally to extend further at least towards 11950 or even
a complete gush in so many midcap counters, who had
the magical figure of 12000 is on cards. On the lower side now,
underperformed significantly over the past few months. Going
11700 followed by 11591 would now be seen as sheet anchors.
ahead, traders should focus completely on such propositions
from the broader market and should keep a close eye on the
Yesterday, no brainer, banking index hastened at record highs
final outcome on Thursday.
and there was massive buying interest seen throughout the day
across the broader market. Since last few days, we have been
advising accumulating marquee names in this recent decline and
Key Levels
we were hopeful of a positive reaction. This strategy seems to
Support 1 - 11700
Resistance 1 -
11950
have worked well as we saw stellar moves in so many pockets,
Support 2 - 11591
Resistance 2 -
12000
especially the ‘midcap’ index, which had given some early signs
of completing its time wise as well as price wise correction phase.
Nifty Bank Outlook - (30760)
Exhibit 2: Nifty Bank Daily Chart
The Bank Nifty index too opened with a gap above the 30000
mark and continued the buying momentum to register new highs
and ended the session with whopping gains of over 1300 points.
Along with the private sector banks, the PSU Banks too
participated in the rally which led to an up move in the Nifty PSU
Bank index of almost 8 percent. Yesterday's gap up opening in
the Bank Nifty and the Nifty PSU Bank index should provide a
support base going ahead and we expect a continuation of this
trended move in short to medium term. As per the reciprocal
retracement theory, we expect the Bank Nifty to rally towards
31200 followed by 32000 in the next few weeks. On the flip
side, support can be seen around 30280 and 30120 levels.
Key Levels
Support 1 - 30280
Resistance 1 -
31200
Support 2 - 30120
Resistance 2 -
32000
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Technical & Derivatives Report
May 21, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 9.73%.
Bank Nifty futures open interest has decreased by
22.42% as market closed at 11828.25 levels.
The Nifty May future closed with a premium of 31.20
points against a premium of 18.65 points in last trading
session. The June series closed at a premium of 72.00
points.
The INDIA VIX has decreased from 28.07 to 23.67.
At the same time, the PCR-OI of Nifty has decreased
from 1.36 to 1.29.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, SUZLON, ADANIPORTS,
RPOWER and CHENNPETRO.
Views
OI Gainers
The benchmark index started-off the session with a
OI
PRICE
upside gap with a decent margin due to the exit polls
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
verdict in favor of BJP. During the day, we did saw some
UBL
2212000
44.56
1374.25
0.17
profit booking in the initial hour. However, soon
CHOLAFIN
679500
22.88
1427.60
6.57
momentum picked up and gradually index rallied
TATACHEM
4117950
18.30
609.45
-1.53
beyond 11800 mark. The banking index once again
CHENNPETRO
1380600
17.28
213.35
0.07
outperformed the benchmark by rallying more than 4%.
HDFCBANK
13013000
16.29
2432.35
3.20
FII’s were net buyers in the equity segment to the tune of
RELCAPITAL
15556500
16.07
124.15
9.01
Rs.1734 crores. In index futures front, they were buyers
SBIN
68547000
14.53
344.70
8.20
of Rs. 1071 crores with rise in open interest, indicating
ACC
2252400
13.55
1662.95
4.01
fresh long formation for second consecutive session.
In index options front, they were buyers of Rs. 1537
crores with rise in OI. In call options, build-up was
OI Losers
scattered between 11900-11500 strikes and we believe
OI
PRICE
SCRIP
OI
PRICE
these are long formation. On the flip side, fresh writing
CHG. (%)
CHG. (%)
was observed in 11300-11800 put options.
BANKINDIA
22374000
-12.46
89.90
10.45
In the recent correction, good amount of long unwinding
ADANIENT
37568000
-12.23
151.95
27.83
took place and we hardly saw any relevant shorting.
KSCL
690000
-8.91
477.35
5.56
Since last couple of sessions, fresh longs were formed in
ALBK
17862000
-8.89
46.35
9.17
the index futures. Today as well, we saw massive long
CEATLTD
920400
-8.29
1008.25
6.18
additions in Nifty and BankNifty Futures. Considering the
INFIBEAM
12304000
-8.01
45.80
8.11
above data point, we expect continuation of today’s rally
TORNTPOWER
2232000
-7.12
248.05
5.39
beyond the psychological mark of 12000.
BERGEPAINT
1966800
-7.07
313.30
3.98
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ADANIENT
124.44
NIFTY
1.29
0.72
SBIN
45.47
BANKNIFTY
1.02
0.85
CESC
56.70
RELIANCE
0.44
0.45
LT
38.18
ICICIBANK
0.58
0.57
DRREDDY
35.19
INFY
0.92
0.34
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Technical & Derivatives Report
May 21, 2019
FII Statistics for May 20, 2019
Turnover on May 20, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
7719.15
6648.28
1070.87
252201
20838.10
9.71
454545
34170.28
38.07
FUTURES
FUTURES
INDEX
INDEX
72967.80
71430.25
1537.56
826780
67945.78
1.18
5447429
419559.61
99.12
OPTIONS
OPTIONS
STOCK
19156.59
18363.63
792.97
1515946
91680.69
(0.17)
STOCK
FUTURES
1165287
68053.56
26.35
FUTURES
STOCK
STOCK
8035.53
8009.12
26.42
142957
8354.60
5.58
907457
56127.40
37.71
OPTIONS
OPTIONS
Total
107879.08
104451.27
3427.81
2737884
188819.17
1.37
TOTAL
732838
2568108
75.09
Nifty Spot = 11828.25
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11800
279.80
Buy
11400
218.20
56.50
43.50
11856.50
37.05
62.95
11362.95
Sell
11900
223.30
Sell
11300
181.15
Buy
11800
279.80
Buy
11400
218.20
103.80
96.20
11903.80
68.75
131.25
11331.25
Sell
12000
176.00
Sell
11200
149.45
Buy
11900
223.30
Buy
11300
181.15
47.30
52.70
11947.30
31.70
68.30
11268.30
Sell
12000
176.00
Sell
11200
149.45
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
May 21, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
363
381
395
414
427
ASIANPAINT
1,319
1,347
1,362
1,390
1,406
AXISBANK
747
765
778
795
808
BAJAJ-AUTO
2,878
2,942
3,015
3,079
3,152
BAJFINANCE
3,297
3,352
3,398
3,454
3,500
BAJAJFINSV
7,957
8,096
8,195
8,334
8,433
BPCL
378
385
391
398
404
BHARTIARTL
327
333
338
344
349
INFRATEL
263
266
271
274
279
BRITANNIA
2,748
2,775
2,807
2,834
2,866
CIPLA
544
555
561
572
578
COALINDIA
232
235
239
242
246
DRREDDY
2,401
2,495
2,637
2,731
2,873
EICHERMOT
20,791
21,044
21,327
21,580
21,863
GAIL
334
340
345
350
355
GRASIM
825
858
876
909
927
HCLTECH
1,037
1,055
1,070
1,088
1,102
HDFCBANK
2,358
2,395
2,417
2,454
2,476
HDFC
1,991
2,057
2,096
2,162
2,202
HEROMOTOCO
2,588
2,651
2,696
2,759
2,805
HINDALCO
191
195
197
201
203
HINDUNILVR
1,720
1,746
1,761
1,788
1,803
IBULHSGFIN
695
755
801
861
907
ICICIBANK
396
402
408
414
420
IOC
148
153
156
161
164
INDUSINDBK
1,361
1,428
1,467
1,534
1,572
INFY
698
710
718
731
739
ITC
300
304
306
309
311
JSW STEEL
274
280
287
293
300
KOTAKBANK
1,445
1,474
1,490
1,518
1,534
LT
1,380
1,416
1,435
1,471
1,490
M&M
619
636
649
666
680
MARUTI
6,742
6,913
7,032
7,203
7,322
NTPC
124
127
128
131
133
ONGC
166
171
174
179
181
POWERGRID
182
185
187
190
192
RELIANCE
1,288
1,307
1,322
1,341
1,357
SBIN
326
335
341
350
355
SUNPHARMA
399
406
418
425
436
TCS
2,014
2,079
2,115
2,180
2,217
TATAMOTORS
174
182
187
195
200
TATASTEEL
467
475
485
493
503
TECHM
750
765
777
792
804
TITAN
1,192
1,212
1,225
1,245
1,258
ULTRACEMCO
4,464
4,619
4,713
4,869
4,963
UPL
945
982
1,002
1,039
1,060
VEDANTA
162
165
166
169
170
WIPRO
286
288
290
292
294
YESBANK
134
139
142
147
150
ZEEL
331
347
371
387
411
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Technical & Derivatives Report
May 21, 2019
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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