Technical & Derivatives Report
April 22, 2019
Sensex (39140) / Nifty (11753)
Exhibit 1: Nifty Daily Chart
During the last week our markets started off well after US markets
witnessed a strong upsurge on preceding Friday. The entire Asian
basket too had a great run early in the morning on Monday; but
we saw most of these bourses later on giving up their gains.
Despite this, we managed to hold our ground and had a gradual
up move throughout the remaining part to conclude firmly well
inside the positive territory. This was followed by yet another gap
up opening, which led to fresh record highs surpassing August
28, 2018 peak of 11760.20 and recent high of 11761. Last
trading day of the truncated week began with a strong bump up
at the opening; but it turned out to be a formality as we saw
gradual profit taking throughout the remaining part to eventually
conclude below the 11800 mark.
With last week’s up move, the Nifty has managed to clock highest
ever weekly closing and the way it’s shaped up, we will not be
As far as levels are concerned, Tuesday’s gap area
surprised to see many such achievements in days to come. Yes,
of 11731.55 - 11704.60 would now be seen as immediate
the kind of profit booking we saw on Thursday, especially in
support. After this, 11549 can now be termed as a sacrosanct
banking index, it does not augur well. But, we would still like to
level for momentum traders. Only a move below this would
continue with the broader trend, which is strongly bullish. In
apply brakes on this optimism for a while, till then continue with
between, it’s natural to see such hiccups; but it certainly does not
a buy on decline strategy. On the flipside, 11800 - 11857 are
warrant any kind of trend reversal, at least at this juncture. So
the levels to watch out for. But if above mentioned supports are
rather than pre-empting reversal and adopting a contrarian
held, then we will not be surprised to see index hastening
approach, we would follow stock specific approach for a while.
beyond these hurdles to climb the
12k mountain. At this
juncture, one needs to be extremely stock specific by following a
proper exit strategy.
Key Levels
Support 1 - 11731
Resistance 1 -
11800
Support 2 - 11704
Resistance 2 -
11857
Nifty Bank Outlook - (30223)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index rallied higher for initial
couple of sessions. However, on Thursday, the index opened
higher and resisted around the recent high of 30650. It corrected
from the opening hour and remained under pressure throughout
the day to end the day with a loss of one percent.
In the recent past, we have been positive on the banking space
and have seen the index resuming the positive momentum post a
correction. However, the index has resisted around 30650 for the
second time in this calendar month. Now, Thursday's move
resembles a bearish pattern on the daily chart of Bank Nifty. But,
the index still trades above its short term support zone of 30163-
30035. A follow-up move in the next couple of sessions could
give more clarity and hence, we advise traders to be stock specific
at the moment and avoid contra trades. The resistances on the
higher side are seen around 30470 and 30670.
Key Levels
Support 1 - 30163
Resistance 1 -
30407
Support 2 - 30035
Resistance 2 -
30670
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Technical & Derivatives Report
April 22, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.70%.
Bank Nifty futures open interest has decreased by 1.53%
as market closed at 11752.80 levels.
The Nifty April future closed with a premium of 18.30
points against a premium of 37.30 points in last trading
session. The May series closed at a premium of 86.90
points.
The INDIA VIX has increased from 21.69 to 22.73.
At the same time, the PCR-OI of Nifty has decreased
from 1.82 to 1.58.
Few of the liquid counters where we have seen high cost
of carry are INFIBEAM, NTPC, GODFRYPHLP,
MANAPPURAM and MGL.
Views
OI Gainers
Last week, the benchmark index surpassed the hurdle of
OI
PRICE
SCRIP
OI
PRICE
11700 and extended its rallied beyond record highs.
CHG. (%)
CHG. (%)
However, some profit booking was witnessed on
RELCAPITAL
11568000
9.89
171.65
-5.29
Thursday’s session.
MFSL
1820400
-1.17
434.90
-0.38
FII’s were net buyers in the equity segment to the tune of
CHENNPETRO
1063800
3.87
264.50
0.06
about 1038 crores. In index futures segment, they were
INDIGO
2661000
9.32
1581.90
6.69
buyers of Rs. 1207 crores with decent amount of rise in
IFCI
64120000
5.17
13.10
-0.75
open interest, indicating formation of long positions.
RELINFRA
10484500
-5.14
132.05
-0.41
In index options front, they were buyers of Rs. 2117
HEXAWARE
3535500
4.48
344.50
-1.42
crores with fall in OI. In call options, fresh build-up was
DCBBANK
6057000
-11.10
202.25
5.39
seen in 11800-12000 strikes. On the flip side, 11650
put strike added some positions. Now, maximum OI
concentration for monthly series is placed at 12000 call
OI Losers
and 11500 puts.
OI
PRICE
SCRIP
OI
PRICE
As far as F&O activities for the week are concerned, we
CHG. (%)
CHG. (%)
observed good amount of long formation in both Nifty
JETAIRWAYS
5997200
-5.15
240.50
-6.16
and BankNifty. in fact, decent amount of longs formed in
PCJEWELLER
11979500
-21.44
145.95
15.42
last series are also intact in the system. Hence, we don’t
RPOWER
94096000
-0.79
9.45
-0.52
see any major downside from her onwards. At present,
NIITTECH
1950750
-2.03
1297.05
0.19
11650-11700 is an immediate support; whereas, some
UJJIVAN
3899200
-0.04
350.40
0.73
hurdle is placed around 11850. Considering the above
INFIBEAM
15208000
-2.59
51.70
0.68
data points, we would advise traders to use declined in
MINDTREE
4153200
1.79
972.45
-0.67
market to add fresh long positions.
APOLLOTYRE
10899000
0.69
216.35
-0.82
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
JETAIRWAYS
76.03
NIFTY
1.82
1.08
PCJEWELLER
125.95
BANKNIFTY
1.39
0.93
RPOWER
88.79
RELIANCE
0.42
0.44
RELCAPITAL
76.87
ICICIBANK
0.67
0.44
SUZLON
102.84
INFY
0.55
0.50
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Technical & Derivatives Report
April 22, 2019
FII Statistics for April 18, 2019
Turnover on April 18, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4988.98
3781.52
1207.46
273828
21957.27
7.23
289578
20940.75
17.81
FUTURES
FUTURES
INDEX
INDEX
339476.04
337358.60
2117.44
881744
70842.83
(5.46)
30730432
2022717.59
117.98
OPTIONS
OPTIONS
STOCK
13411.11
13428.60
(17.48)
1402099
90727.40
0.34
STOCK
FUTURES
913365
56957.16
12.41
FUTURES
STOCK
STOCK
8998.15
9207.60
(209.45)
139857
8949.39
1.64
945759
62643.36
7.76
OPTIONS
OPTIONS
Total
366874.28
363776.31
3097.96
2697528
192476.90
(0.94)
TOTAL
623820
2238702
105.14
Nifty Spot = 11752.80
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11800
49.75
Buy
11700
34.15
31.25
68.75
11831.25
19.50
80.50
11680.50
Sell
11900
18.50
Sell
11600
14.65
Buy
11800
49.75
Buy
11700
34.15
42.30
157.70
11842.30
26.05
173.95
11673.95
Sell
12000
7.45
Sell
11500
8.10
Buy
11900
18.50
Buy
11600
14.65
11.05
88.95
11911.05
6.55
93.45
11593.45
Sell
12000
7.45
Sell
11500
8.10
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 22, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
385
388
392
394
398
ASIANPAINT
1,450
1,460
1,470
1,480
1,490
AXISBANK
763
767
773
777
783
BAJAJ-AUTO
3,018
3,044
3,067
3,093
3,116
BAJFINANCE
2,967
2,991
3,018
3,042
3,069
BAJAJFINSV
7,414
7,492
7,544
7,622
7,674
BPCL
349
356
361
367
372
BHARTIARTL
326
336
343
354
361
INFRATEL
297
302
308
313
320
BRITANNIA
2,964
2,981
3,005
3,022
3,047
CIPLA
547
554
560
568
574
COALINDIA
248
250
251
253
255
DRREDDY
2,770
2,784
2,806
2,821
2,843
EICHERMOT
20,627
20,826
21,148
21,346
21,668
GAIL
346
349
352
355
358
GRASIM
846
857
872
883
899
HCLTECH
1,072
1,087
1,106
1,121
1,139
HDFCBANK
2,272
2,283
2,299
2,310
2,326
HDFC
1,967
1,985
2,017
2,035
2,066
HEROMOTOCO
2,717
2,729
2,745
2,757
2,772
HINDALCO
200
204
210
213
220
HINDUNILVR
1,723
1,731
1,738
1,746
1,753
IBULHSGFIN
762
781
808
827
853
ICICIBANK
398
401
406
409
414
IOC
153
154
156
158
159
INDUSINDBK
1,709
1,736
1,780
1,808
1,852
INFY
708
712
717
722
727
ITC
301
303
305
307
310
JSW STEEL
281
290
296
305
310
KOTAKBANK
1,346
1,358
1,375
1,387
1,404
LT
1,338
1,350
1,369
1,380
1,399
M&M
675
680
686
691
697
MARUTI
7,368
7,408
7,474
7,513
7,579
NTPC
133
134
136
137
139
ONGC
157
159
161
162
164
POWERGRID
191
193
195
197
200
RELIANCE
1,355
1,371
1,380
1,395
1,405
SBIN
304
307
312
315
319
SUNPHARMA
453
458
462
467
471
TCS
2,099
2,125
2,140
2,165
2,181
TATAMOTORS
227
231
235
240
244
TATASTEEL
527
535
545
553
563
TECHM
792
796
802
807
813
TITAN
1,107
1,116
1,123
1,132
1,139
ULTRACEMCO
4,194
4,227
4,253
4,286
4,313
UPL
920
927
933
940
946
VEDANTA
172
175
181
184
190
WIPRO
276
280
285
290
294
YESBANK
245
251
259
264
273
ZEEL
390
396
407
413
424
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Technical & Derivatives Report
April 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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