Technical & Derivatives Report
September 21, 2018
Exhibit 1: Nifty Daily Chart
Sensex (37121) / Nifty (11234)
Markets are still feeling the heat and the gap up opening on
Wednesday was merely a formality as we saw index immediately
sliding below the 11300 mark in the initial hour of the trade.
There was couple of attempts made to stay beyond this
psychological level; but all failed due to strong selling pressure at
higher levels. The index then corrected in the latter half which has
been the recent trend and hence, eventually Nifty went on to
conclude the session tad below the 11250 mark.
The last three sessions have not been good for our markets;
especially after giving a smart recovery last week beyond 11500.
Honestly, we have not been actively participating in this corrective
move; rather chose to stay on the sidelines till the time picture
becomes clear. Going ahead, it would be important to see how
index behaves around 11230 - 11200. Even if it slides below
these junctions, there is a strong support zone in the range of
11171 - 11135 and hence, it’s certainly not advisable shorting at
this juncture. On the upside, for the coming session, 11297
followed by 11332 would be seen as immediate resistance levels.
Traders are advised to be very stock specific now and in terms of
sectoral bets, we still like OMC’s who are now gearing up to
compensate for its recent underperformance. In addition, the
‘Metal’ pack was clearly bucking the trend and hence, can be
seen as potential candidates.
Key Levels
Support 1 - 11200
Resistance 1 -
11297
Support 2 - 11171
Resistance 2 -
11332
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (26277)
In Wednesday's session, the Nifty Bank index consolidated in a
narrow range for initial couple of hours. However, post noon, the
index resumed the sell-off and continued the negative momentum
for rest of the session to end with a loss of six-tenths of a percent.
Since last few sessions, we have been advising to avoid bets in the
banking and financial space as the index has been
underperforming the broader markets. Also, as expected, the
index has now almost approached its 200 DMA which is placed
around 26100-26150. The momentum reading i.e. RSI on the
hourly chart is in oversold zone and is also showing a divergence.
This could lead to a pullback move from the mentioned support
zone. Being a weekly close today, it would be crucial to see how
the index behaves around this mentioned support and thus
traders should be vigilant on the market moves. The intraday
support is placed in the range of
26100-26150 whereas
resistances are seen around 26410 and 26555.
Key Levels
Support 1 - 26150
Resistance 1 -
26410
Support 2 - 26100
Resistance 2 - 26555
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Technical & Derivatives Report
September 21, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.19%
Bank Nifty futures open interest has increased by 5.15%
as market closed at 11234.35 levels.
The Nifty September future closed with a premium of
38.45 points against a premium of 31.30 points in last
trading session. The October series closed at a premium
of 82.40 points.
The INDIA VIX has decreased from 14.41 to 14.00. At
the same time, the PCR-OI of Nifty has decreased from
1.20 to 1.14.
Few of the liquid counters where we have seen high cost
of carry are INFIBEAM, SUZLON, RCOM, BIOCON and
L&TFH.
Views
FIIs were net sellers in cash market segment to the tune
of Rs. 2185 crores. At the same time, they bought worth
OI Gainers
Rs. 355 crores in index futures with decent rise in open
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
interest, indicating long formation took place on
JETAIRWAYS
7129200
9.37
243.15
-4.68
yesterday’s trading session
MUTHOOTFIN
3534000
8.42
460.00
3.56
In options front, they bought worth Rs. 1538 crores with
MINDTREE
4195200
7.37
1120.35
-2.08
rise in open interest. As far as Nifty options activities are
NIITTECH
1318500
7.26
1273.40
-2.49
considered, we saw fresh build-up in 11300-11400 call
JUSTDIAL
3448200
7.09
498.35
1.25
options; followed by unwinding in 11600 and 11700
RELINFRA
8889400
7.03
386.45
-9.59
strikes. On the flip side, OTM puts 10800-11100 strikes
IGL
5733750
6.98
256.35
-1.51
added some positions along with unwinding in 11400-
11700 puts. Maximum open interest for September
GODREJCP
4430400
6.77
820.80
-4.11
series is placed at 11500 followed by 11800 call and
11000 followed by 11200 put options.
OI Losers
On Wednesday, we witnessed further selling pressure
OI
PRICE
below the support zone of 11250 mark. In index futures
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
segment, we hardly saw any relevant OI change in
BALRAMCHIN
10234000
-13.80
87.60
2.99
recent declines for Nifty; however, decent shorts were
VOLTAS
3710000
-10.23
567.85
-1.43
added in the banking index. Surprisingly, FIIs have
UNIONBANK
42090000
-8.98
78.45
4.67
turned net buyers in index futures for the last two trading
BANKBARODA
82932000
-7.52
116.35
2.60
sessions. At present, we hardly saw any relevant shorts
CANBK
11988000
-6.50
246.20
0.20
in recent correction; thus, one should wait a watch for
RAMCOCEM
1019200
-5.70
640.70
-0.06
further development before taking any fresh trades.
TORNTPHARM
769500
-5.47
1759.35
1.30
ACC
1668800
-4.25
1570.25
-1.23
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
RELINFRA
69.77
NIFTY
1.14
0.84
RELCAPITAL
62.66
BANKNIFTY
0.43
0.79
INDUSINDBK
26.43
RELIANCE
0.46
0.63
ESCORTS
40.31
ICICIBANK
0.48
0.54
BHARATFIN
26.43
INFY
0.43
0.38
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Technical & Derivatives Report
September 21, 2018
FII Statistics for September 19, 2018
Turnover on September 19, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3516.88
3161.76
355.12
317901
27204.39
4.33
266106
24936.60
-1.76
FUTURES
FUTURES
INDEX
INDEX
182086.76
180553.16
1533.60
970606
84415.61
(0.84)
18329636
1894909.02
73.97
OPTIONS
OPTIONS
STOCK
15782.53
15841.67
(59.13)
1228066
89811.81
0.37
STOCK
FUTURES
925999
64319.85
3.02
FUTURES
STOCK
STOCK
12714.61
12884.99
(170.37)
143057
10266.25
4.45
876637
66162.20
4.00
OPTIONS
OPTIONS
Total
214100.79
212441.58
1659.22
2659630
211698.06
0.59
TOTAL
20398378
2050327.67
65.27
Nifty Spot = 11234.35
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11200
99.15
Buy
11200
94.15
41.85
58.15
11241.85
38.00
62.00
11162.00
Sell
11300
57.30
Sell
11100
56.15
Buy
11200
99.15
Buy
11200
94.15
69.15
130.85
11269.15
61.75
138.25
11138.25
Sell
11400
30.00
Sell
11000
32.40
Buy
11300
57.30
Buy
11100
56.15
27.30
72.70
11327.30
23.75
76.25
11076.25
Sell
11400
30.00
Sell
11000
32.40
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
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Technical & Derivatives Report
September 21, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
364
368
375
379
386
ASIANPAINT
1,267
1,279
1,299
1,311
1,331
AXISBANK
590
599
611
620
632
BAJAJ-AUTO
2,743
2,767
2,798
2,822
2,853
BAJFINANCE
2,417
2,458
2,528
2,569
2,639
BAJAJFINSV
6,092
6,202
6,391
6,501
6,690
BPCL
349
357
362
370
375
BHARTIARTL
350
360
370
380
390
INFRATEL
260
266
269
275
278
CIPLA
629
645
662
677
694
COALINDIA
272
276
279
283
286
DRREDDY
2,540
2,573
2,605
2,638
2,670
EICHERMOT
27,597
28,004
28,687
29,094
29,778
GAIL
369
377
381
389
394
GRASIM
1,041
1,054
1,066
1,079
1,091
HCLTECH
1,072
1,079
1,089
1,097
1,106
HDFCBANK
1,930
1,946
1,972
1,987
2,013
HDFC
1,800
1,815
1,840
1,855
1,879
HEROMOTOCO
3,067
3,111
3,145
3,189
3,223
HINDALCO
230
233
237
240
243
HINDPETRO
244
247
251
255
259
HINDUNILVR
1,613
1,630
1,654
1,671
1,696
IBULHSGFIN
1,133
1,146
1,162
1,175
1,190
ICICIBANK
313
317
321
325
329
IOC
150
152
153
155
157
INDUSINDBK
1,750
1,777
1,826
1,854
1,903
INFY
706
713
720
727
734
ITC
293
297
301
304
309
KOTAKBANK
1,209
1,218
1,226
1,235
1,243
LT
1,317
1,325
1,334
1,342
1,351
LUPIN
879
894
917
932
955
M&M
923
936
951
964
978
MARUTI
8,026
8,118
8,283
8,375
8,541
NTPC
166
167
170
171
174
ONGC
171
174
176
179
182
POWERGRID
194
196
198
200
202
RELIANCE
1,189
1,200
1,212
1,223
1,235
SBIN
263
267
275
279
287
SUNPHARMA
634
641
649
657
665
TCS
2,056
2,067
2,078
2,089
2,100
TATAMOTORS
249
251
253
255
257
TATASTEEL
610
615
623
629
637
TECHM
744
757
764
778
785
TITAN
769
797
813
840
857
ULTRACEMCO
4,019
4,035
4,061
4,077
4,104
UPL
671
682
699
709
726
VEDANTA
224
227
230
233
235
WIPRO
325
329
331
335
338
YESBANK
311
315
322
326
333
ZEEL
438
444
456
462
473
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Technical & Derivatives Report
September 21, 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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