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Technical & Derivatives Report
January 22, 2020
Sensex (
41324
(1
2170
)
Post the sell-off in Monday's session, the index opened
yesterday's session marginally negative following the global
cues. Nifty traded within a range of 70 points and ended the day
with a loss of almost half a percent.
The index opened tad below the 12200 mark yesterday and
traded within a range. However, there was some good stock
specific momentum seen during the day wherein several midcap
names were in momentum. Hence, the midcap index showed
some outperformance compared to the large cap names. Overall,
as highlighted yesterday, we interpret this down move as a
correction within an uptrend which again is a good buying
opportunity for positional traders to accumulate stocks for the
next leg of the up move. As far as index levels are concerned, the
support for Nifty for the day is placed in the range of 12150-
12130. Traders are advised to use dips in the support zone as a
buying opportunity as the index could again show some pullback
towards 12220-12250.
Inspite of some consolidation in the benchmark indices, stock-
specific movements are providing better trading opportunities.
Yesterday, the housing finance companies showed decent
outperformance and traders are advised to focus on such
pockets where there is price up move along with good volumes.
Key Levels
Support 1 – 12150 Resistance 1 – 12220
Support 2 – 12130 Resistance 2 – 12250
Exhibit 1: Nifty
Daily
Chart
Nifty Bank Outlook - (30947)
Bank Nifty as well started on a negative note and after trading in
a range ended with a loss of 0.43% at 30947.
On the daily chart, Index has managed to hold the support levels
of 30800 which previously twice acted as support and now
coincides with 89EMA. Yesterday, the bank index formed a doji
around this support zone and going ahead it will be crucial to
see how the bank index reacts around this support zone. A
sustain trade above 'Doji' pattern at 31170 can trigger a bounce
back towards 31435-31600 levels. On the flip side, a break
below 30800 may open doors for further weakness towards
30580 and 30340 levels . Traders are hence advised to keep a
tab on the above levels and trade accordingly.
Key Levels
Support 1 – 30800 Resistance 1 – 31170
Support 2 – 30580 Resistance 2 – 31435
Exhibit 2: Nifty Bank
Daily
Chart
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January 22, 2020
Nifty Vs OI
Views
Post Monday’s not so encouraging closing, Nifty
began yesterday’s session slightly lower. During the
day, we witnessed follow-up selling to drag index
below 12200 mark on the closing basis.
FIIs were net sellers in the cash market segment to the
tune of only Rs. 50 crores. In index futures, they sold
worth Rs. 552 crores with good amount of rise in open
interest, indicating fresh selling took place in
yesterday’s trade.
The open interest activity in Nifty remained subdued;
however some shorts were formed in the banking
index for the second consecutive sessions. In the
options front, we saw fresh writing in 12200 and 12250
call options. on the flip side, despite yesterday’s
follow-up selling 12100-12150 puts added good
amount of positions; followed by unwinding in 12200-
12400 strikes. In the recent fall, we haven’t seen any
relevant selling in Nifty futures and considering the
fresh writing seen in 12100-12150 puts, we expect
some pull-back move going ahead.
Comments
The Nifty futures open interest has decreased by 0.44%
Bank Nifty futures open interest has increased 2.97% as
market closed at 12169.85 levels.
The Nifty January future closed with a premium of 33.25
points against a premium of 38.55 points in last trading
session. The February series closed at a premium of
72.95 points.
The INDIA VIX has increased from 15.41 to 15.86.
At the same time, the PCR-OI of Nifty has decreased
from 1.13 to 1.08.
Few of the liquid counters where we have seen high cost
of carry are SHREECEM, BHEL, MFSL, GAIL and
GMRINFRA.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IOC 91860000 67.76 114.80 -3.08
PFC 41657800 36.59 106.65 -5.25
CHOLAFIN 4137500 14.93 314.95 -1.34
TORNTPHARM 424000 12.32 2020.15 -0.24
BEL 33624000 9.90 105.05 0.00
RECLTD 24018000 9.73 134.40 -2.18
BHEL 83803200 8.42 43.40 -3.11
BHARTIARTL 57082989 8.34 511.75 0.23
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
DISHTV 85560300 -7.59 13.45 5.06
CENTURYTEX 3529200 -5.48 558.50 3.72
KOTAKBANK 8628800 -5.40 1625.10 0.42
ASIANPAINT 8059200 -5.23 1810.75 -2.25
SRTRANSFIN 4239600 -4.84 1089.40 1.49
DLF 34283700 -4.79 257.10 -0.65
BATAINDIA 2137300 -4.54 1788.25 -0.31
ZEEL 30729200 -4.20 284.10 4.60
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.08 0.79
BANKNIFTY 0.70 0.96
RELIANCE 0.42 0.53
ICICIBANK 0.49 0.60
INFY 0.60 0.54
Historical Volatility
SCRIP HV
MARICO 24.24
IDEA 187.65
INFRATEL 78.40
UBL 24.39
PIDILITIND 18.47
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Technical & Derivatives Report
January 22, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot
=
12169.85
Lot Size = 75
FII Statistics for
January
21, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3286.79 3838.67 (551.88) 195420 16470.63 8.71
INDEX
OPTIONS
262484.82 264076.49 (1591.67) 807033 65312.46 1.23
STOCK
FUTURES
13003.03 14021.00 (1017.97) 1556367 104401.85 0.48
STOCK
OPTIONS
6027.04 6039.02 (11.98) 93246 6411.23 0.47
Total 284801.68
287975.18
(3173.50) 2652066
192596.17
1.27
Turnover on
January
21
, 20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
272989 19998.79 -17.54
INDEX
OPTIONS
16243630 1155430.99 3.21
STOCK
FUTURES
703315 48249.28 -15.89
STOCK
OPTIONS
823227 58845.17 -26.76
TOTAL 1,80,43,161 1282524.23 0.08
Bull
-
Call Spreads
Action Strike Price Risk Reward BEP
Buy 12200 91.25
44.35 55.65 12244.35
Sell 12300 46.90
Buy 12200 91.25
68.85 131.15 12268.85
Sell 12400 22.40
Buy 12300 46.90
24.50 75.50 12324.50
Sell 12400 22.40
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 12200 88.30
36.90 63.10 12163.10
Sell 12100 51.40
Buy 12200 88.30
58.15 141.85 12141.85
Sell 12000 30.15
Buy 12100 51.40
21.25 78.75 12078.75
Sell 12000 30.15
Nifty Put
-
Call Analysis
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Technical & Derivatives Report
January 22, 2020
Daily Pivot Levels for Nifty Constituents
Scrips S2 S1
PIVOT
R1
R2
ADANIPORTS 372 376
379 383
386
ASIANPAINT 1,767 1,789
1,816 1,838 1,864
AXISBANK 708 713
721 726
735
BAJAJ-AUTO 3,067 3,082
3,101 3,116 3,134
BAJFINANCE 4,078 4,108
4,147 4,177 4,216
BAJAJFINSV 9,439 9,487
9,556 9,603 9,673
BPCL 450 457
462 469
473
BHARTIARTL 500 506
510 516
521
INFRATEL 217 229
236 248
255
BRITANNIA 3,053 3,082
3,106 3,135 3,159
CIPLA 468 471
475 478
482
COALINDIA 199 200
203 205
207
DRREDDY 3,015 3,038
3,059 3,082 3,103
EICHERMOT 20,663 20,860
21,167 21,364 21,672
GAIL 124 126
128 129
131
GRASIM 754 763
772 781
790
HCLTECH 576 580
587 591
597
HDFCBANK 1,233 1,239
1,244 1,250 1,256
HDFC 2,407 2,436
2,461 2,490 2,515
HEROMOTOCO
2,358
2,378
2,395
2,416
2,433
HINDALCO 202 204
206 208
210
HINDUNILVR 2,038 2,047
2,061 2,070 2,084
ICICIBANK 524 527
534 537
544
IOC 112 113
116 117
120
INDUSINDBK 1,305 1,321
1,335 1,351 1,365
INFY 755 759
765 768
774
ITC 236 237
239 241
243
JSW STEEL 261 264
268 271
274
KOTAKBANK 1,568 1,597
1,614 1,642 1,659
LT 1,292 1,297
1,306 1,311 1,319
M&M 541 547
556 562
571
MARUTI 7,195 7,249
7,342 7,396 7,489
NESTLEIND 15,026 15,153
15,327 15,455 15,629
NTPC 115 116
118 119
120
ONGC 121 122
123 124
125
POWERGRID 196 198
201 204
207
RELIANCE 1,510 1,522
1,534 1,546 1,558
SBIN 309 311
314 316
319
SUNPHARMA 443 445
448 451
454
TCS 2,143 2,157
2,172 2,186 2,200
TATAMOTORS 186 189
193 195
199
TATASTEEL 465 471
479 485
493
TECHM 771 775
779 783
788
TITAN 1,151 1,164
1,174 1,186 1,197
ULTRACEMCO 4,401 4,442
4,481 4,522 4,561
UPL 567 572
578 583
588
VEDANTA 150 152
155 157
160
WIPRO 245 246
247 248
249
YESBANK 37 38
39 39 40
ZEEL 260 272
279 291
299
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Technical & Derivatives Report
January 22, 2020
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cso@angelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]ngelbroking.com
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