Technical & Derivatives Report
March 22, 2019
Sensex (38387) / Nifty (11521)
Exhibit 1: Nifty Daily Chart
On Wednesday, our markets started the proceedings marginally
higher, which was very much in-line with what SGX Nifty has
suggested early in the morning. However, we almost had an
‘open-high’ kind of scenario as index failed to surpass the high
made in the initial trade. Mostly, it was a day of consolidation
within a very slender range to conclude the day with negligible
losses.
Market looks a bit tired now and it is quite evident to have such
kind of exhaustion after rallying more than 6% in such a short
span. We have been indicating about such possible
consolidation; however, we continue to remain upbeat on the
market and advice against adopting a contrarian approach. As
far as levels are concerned, 11500 followed by 11451 would
now be seen as immediate supports; whereas on the upside,
11556 and 11600 are the next levels to watch out for.
On Wednesday, the banking index outperformed our benchmark
index by a fair margin; courtesy to big boy ‘HDFC Bank’ who
continues with its dream run. The ideal strategy at this point in
time is to keep focusing on individual stocks which are on the
move, as we may see momentum to continue in such
propositions.
Key Levels
Support 1 - 11500
Resistance 1 -
11556
Support 2 - 11451
Resistance 2 -
11600
Nifty Bank Outlook - (29832)
Exhibit 2: Nifty Bank Daily Chart
In Wednesday's session, the Nifty Bank index traded in a range,
but with a positive bias to end with marginal gains.
As mentioned in our earlier reports, the trend for the banking
index continues to be positive and there are no signs of reversal
so far. Thus, traders should continue to trade with a positive bias
as the index is approaching the 30000 mark for the first time
ever. If we observe the short term charts, it is seen that the index
has not yet breached its previous day's low in this month which
indicates how strong this trended move has been. Technically,
resistance is now seen in the range of 30000-30100 where some
profit booking can be seen. However, we advise traders to avoid
pre-empting reversals and rather flow with the trend. The near
term supports for the index are placed around 29630 and
29550.
Key Levels
Support 1 - 29630
Resistance 1 -
30000
Support 2 - 29550
Resistance 2 -
30100
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Technical & Derivatives Report
March 22, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.83%.
Bank Nifty futures open interest has increased by 5.25%
as market closed at 11532.40 levels.
The Nifty March future closed with a premium of 32.15
points against a premium of 38.35 points in last trading
session. The April series closed at a premium of 90.25
points.
The INDIA VIX has decreased from 16.49 to 16.03.
At the same time, the PCR-OI of Nifty has decreased
from 1.78 to 1.71.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, RPOWER, GMRINFRA, NHPC and
IFCI.
Views
After gaining strength in later half of Tuesday, we
started-off today’s session slightly higher above 11550
OI Gainers
mark. During the day, index remained quite choppy and
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
consolidated in the range of merely 60 points. However,
COALINDIA
40222600
42.36
237.00
-3.31
the banking index continued to outperform the
IOC
66692500
35.66
159.00
-2.58
benchmark index and concluded the session at the
NTPC
75873600
27.76
129.25
-3.69
highest point ever.
ONGC
58533750
23.46
151.85
-4.11
FIIs continued their buying in equities; they bought to the
ENGINERSIN
9905600
15.65
115.55
-2.03
tune of Rs. 1771 crores. In index futures segment, they
NHPC
26919000
10.90
25.00
-1.37
bought marginally with decent fall in open interest,
BHEL
45900000
10.21
68.55
0.58
suggesting unwinding took place in previous session.
As far as Nifty options activities are concerned, 11500-
DLF
24861200
8.31
199.35
2.74
11800 call options added good amount of fresh
positions. Now, considering the declining INDIAVIX we
OI Losers
believe these is writing taking place. On the flip side, we
OI
PRICE
saw decent build-up in 11400-11500 put options. Yet,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
the maximum open interest remains intact in 11500 call
NMDC
13512000
-8.90
113.65
-3.53
and 11000 put options.
NATIONALUM
29560000
-8.15
55.90
2.47
Since the beginning of March series, we have been
AMARAJABAT
914200
-6.91
727.05
-1.69
witnessing huge amount of long formation and now it
GAIL
9710547
-6.81
354.70
-2.30
seems we are long heavy. However, stronger hands
MGL
639600
-6.41
966.50
-1.06
continued pouring liquidity in equities and have been
BERGEPAINT
3610200
-6.17
312.05
0.22
adding good amount of longs in index future segment.
BEML
1731100
-5.72
989.20
-0.38
At present, their ‘Long Short Ratio’ stands at 63% after
JUSTDIAL
3589600
-5.67
608.75
-1.97
quite some time. But, looking at the quantum of
outstanding trades in the system we won’t be
comfortable in initiating fresh longs now.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
INDIGO
53.16
NIFTY
1.71
1.03
PFC
47.03
BANKNIFTY
1.34
0.72
NMDC
31.96
RELIANCE
1.03
0.61
OIL
37.09
ICICIBANK
0.81
0.60
HINDPETRO
53.43
INFY
0.86
0.39
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Technical & Derivatives Report
March 22, 2019
FII Statistics for March 20, 2019
Turnover on March 20, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3744.12
3693.05
51.07
335554
27032.56
(3.56)
251470
18268.87
1.79
FUTURES
FUTURES
INDEX
INDEX
271574.09
268769.90
2804.19
1000412
79560.91
(2.81)
27297068
1749948.47
85.81
OPTIONS
OPTIONS
STOCK
14931.01
16079.34
(1148.32)
1471015
93470.24
1.01
STOCK
FUTURES
933303
57890.49
12.57
FUTURES
STOCK
STOCK
8399.14
8376.47
22.67
150836
9768.82
2.01
902132
58976.17
-1.25
OPTIONS
OPTIONS
Total
298648.37
296918.76
1729.61
2957817
209832.52
(0.79)
TOTAL
74455
700968
76.03
Nifty Spot = 11520.05
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11500
111.35
Buy
11500
56.40
53.15
46.85
11553.15
26.40
73.60
11473.60
Sell
11600
58.20
Sell
11400
30.00
Buy
11500
111.35
Buy
11500
56.40
86.75
113.25
11586.75
39.35
160.65
11460.65
Sell
11700
24.60
Sell
11300
17.05
Buy
11600
58.20
Buy
11400
30.00
33.60
66.40
11633.60
12.95
87.05
11387.05
Sell
11700
24.60
Sell
11300
17.05
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 22, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
355
358
363
366
371
ASIANPAINT
1,439
1,448
1,457
1,465
1,474
AXISBANK
746
751
759
764
772
BAJAJ-AUTO
2,897
2,923
2,947
2,973
2,996
BAJFINANCE
2,810
2,839
2,887
2,916
2,964
BAJAJFINSV
6,862
6,908
6,953
6,999
7,045
BPCL
373
381
394
402
415
BHARTIARTL
328
331
335
338
343
INFRATEL
316
320
327
332
338
CIPLA
529
531
533
535
537
COALINDIA
231
234
239
242
248
DRREDDY
2,689
2,720
2,740
2,771
2,791
EICHERMOT
20,799
21,069
21,459
21,729
22,119
GAIL
348
351
357
360
366
GRASIM
802
810
819
827
837
HCLTECH
1,018
1,028
1,041
1,051
1,064
HDFCBANK
2,248
2,273
2,287
2,312
2,326
HDFC
1,955
1,971
1,985
2,001
2,014
HEROMOTOCO
2,564
2,586
2,616
2,638
2,668
HINDALCO
201
204
206
209
211
HINDPETRO
264
269
280
285
296
HINDUNILVR
1,663
1,675
1,696
1,708
1,729
IBULHSGFIN
685
709
725
749
765
ICICIBANK
388
391
394
397
400
IOC
152
156
159
163
166
INDUSINDBK
1,695
1,704
1,717
1,726
1,739
INFY
721
730
736
745
751
ITC
294
296
299
302
305
JSW STEEL
276
279
284
288
293
KOTAKBANK
1,320
1,336
1,347
1,363
1,374
LT
1,350
1,361
1,371
1,382
1,392
M&M
665
672
683
690
701
MARUTI
6,518
6,596
6,728
6,806
6,938
NTPC
123
126
131
134
139
ONGC
147
149
153
156
160
POWERGRID
195
196
198
199
201
RELIANCE
1,352
1,364
1,376
1,388
1,400
SBIN
298
301
303
306
307
SUNPHARMA
462
468
473
479
483
TCS
1,975
1,995
2,020
2,040
2,065
TATAMOTORS
177
179
181
183
185
TATASTEEL
502
508
517
523
532
TECHM
776
783
794
802
813
TITAN
1,088
1,095
1,105
1,112
1,122
ULTRACEMCO
3,849
3,886
3,948
3,984
4,047
UPL
921
928
934
941
947
VEDANTA
171
173
174
176
177
WIPRO
256
259
261
264
266
YESBANK
244
248
251
255
257
ZEEL
429
436
448
455
467
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Technical & Derivatives Report
March 22, 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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