Technical & Derivatives Report
May 22, 2018
Sensex (34616) / Nifty (10517)
Exhibit 1: Nifty Daily Chart
Trading for the week kick started on a cheerful note owing to
decent surge in DOW JONES Futures early in the morning. This
was mainly on the back of some concerns easing off over US-
China trade war. This certainly had a rub off effect across the
Asian markets; but for us it was merely a formality as we once
again witnessed a complete nosedive post the gap up opening in
initial trades. The index remained under severe pressure
throughout the day to eventually retest the 10500 mark.
Many traders must have perplexed the way last 4 - 5 trading
sessions panned out. On Tuesday, our markets formed a near
term top after a key political event and within no time we are
back to 10500. This seems to be a crucial junction for the index
as we can see cluster of supports in the range of 10500 - 10400.
But, it’s a matter of time; we may see index sliding below these
levels soon. So, traders should prepare themselves for further
pain and hence, are advised to stay light.
Technically speaking, yet another indicator has now added
conviction to this cautions opinion. The ADX (14) on daily time
frame has confirmed a negative crossover of two lines i.e. the
Negative Directional Indicator
(-ve DI) crossing the Positive
Directional Indicator (+ve DI) from underneath. In case of a
bounce back, 10600 - 10660 would now act as a strong
resistance zone; whereas, on the lower side, 10500 followed by
10440 would be seen as immediate supports.
Key Levels
Support 1 - 10500
Resistance 1 - 10600
Support 2 - 10440
Resistance 2 - 10660
Nifty Bank Outlook - (25751)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened higher in yesterday's session;
however, from the opening itself it continued the down move seen
during last week and ended the session with a cut of about half a
percent. The PSU Banking space witnessed a pullback move
yesterday and the PSU Bank index outperformed the benchmark
indices to end the day with gains of 2.66 percent. In the PSU Bank
index, the RSI oscillator is implying a positive divergence on the
daily chart and hence, there could be some pullback move in this
space in near term. The support for the Nifty Bank index is placed
in the range of 25550-25600 whereas resistances are seen
around 25840 and 25960.
Key Levels
Support 1 - 25600
Resistance 1 - 25840
Support 2 - 25550
Resistance 2 - 25960
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Technical & Derivatives Report
May 22, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased 3.10%
BankNifty futures open interest has increased by 2.11%
as market closed at 10516.70 levels.
The Nifty May future closed with a premium of 22.05
points against a premium of 0.65 points in last trading
session. The June series closed at a premium of 35.65
points.
The INDIA VIX has increased from 14.15 to 14.41. At the
same time, the PCR-OI of Nifty has decreased from 1.36
to 1.28 level.
Few of the liquid counters where we have seen high cost
of carry are RCOM, MFSL, PCJEWELLER, CGPOWER and
SOUTHBANK.
Views
OI Gainers
FIIs continue their selling streak in cash market segment,
OI
PRICE
SCRIP
OI
PRICE
they sold to the tune of Rs. 496 crores. At the same time,
CHG. (%)
CHG. (%)
COLPAL
2323300
39.87
1208.45
-2.18
they were seller of Rs. 673 crores in index futures with
STAR
3952600
10.52
341.00
-11.41
rise in open interest, suggesting short formation in
yesterday’s trading session.
OFSS
150300
10.23
3819.75
-2.58
In index options front, they were net buyers of Rs. 1780
ASHOKLEY
78794000
7.99
134.30
-9.67
crores with marginal change in OI. In call options, we
DIVISLAB
2741600
7.46
1138.55
-1.53
saw fresh built-up in 10500-10700 strikes; followed by
JUSTDIAL
4141200
5.15
407.10
-6.60
unwinding in 10800-11000 call options. On the flip
AMARAJABAT
1735300
4.73
808.40
-3.51
side, we hardly saw any relevant OI addition in put
ACC
2750000
4.69
1344.10
-1.96
options; however, good amount of unwinding was seen
in
10600-10800 strikes. Maximum open interest
OI Losers
concentration remains intact in 11000 call and 10500
put options.
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
The benchmark index extended its loss yesterday and
ORIENTBANK
17106000
-27.09
76.70
1.99
tested the important support zone of 10500-10550. We
GLENMARK
5743300
-26.02
500.85
-0.28
saw long unwinding in Nifty and some short addition in
BALRAMCHIN
16408000
-12.91
66.00
6.08
BankNifty. In this fall, stronger hands added short
ICICIPRULI
4559100
-11.15
416.20
-1.13
positions in index and stock futures segment. In case of
JPASSOCIAT
193426000
-10.10
14.20
-18.10
index options, they bought good amount of index put
KPIT
7623000
-9.31
251.75
-3.42
options. However, the cost of carry surged yesterday;
REPCOHOME
693000
-8.00
579.35
-0.35
hitting some buying interest near the 10500 mark. We
NIITTECH
2320500
-7.89
1048.90
1.12
expect index to show some recovery but traders should
utilize this move to exit from the long if any and focus on
individual counters.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ASHOKLEY
59.71
NIFTY
1.28
0.89
JPASSOCIAT
121.24
BANKNIFTY
0.75
0.84
BHARATFORG
28.42
TATAMOTORS
0.40
0.57
DRREDDY
31.43
RELIANCE
0.31
0.42
MRPL
26.89
ICICIBANK
0.96
0.50
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Technical & Derivatives Report
May 22, 2018
FII Statistics for May 21, 2018
Turnover on May 21, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1625.59
2298.68
(673.10)
256043
21135.54
4.87
201084
17800.55
2.80
FUTURES
FUTURES
INDEX
INDEX
79820.41
78040.12
1780.28
899365
73354.88
(0.83)
5519594
512609.81
26.72
OPTIONS
OPTIONS
STOCK
9929.40
10449.68
(520.28)
1250603
83622.60
0.09
STOCK
FUTURES
828260
53638.29
-3.47
FUTURES
STOCK
STOCK
8722.87
8653.23
69.65
142240
9613.41
1.02
736111
51424.69
-6.16
OPTIONS
OPTIONS
Total
100098.27
99441.72
656.55
2548251
187726.43
0.27
TOTAL
7285049
635473.34
19.41
Nifty Spot = 10516.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10500
104.70
Buy
10500
68.30
51.00
49.00
10551.00
29.95
70.05
10470.05
Sell
10600
53.70
Sell
10400
38.35
Buy
10500
104.70
Buy
10500
68.30
81.25
118.75
10581.25
46.90
153.10
10453.10
Sell
10700
23.45
Sell
10300
21.40
Buy
10600
53.70
Buy
10400
38.35
30.25
69.75
10630.25
16.95
83.05
10383.05
Sell
10700
23.45
Sell
10300
21.40
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 22, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
375
379
386
390
397
ASIANPAINT
1,279
1,290
1,302
1,314
1,326
AXISBANK
513
520
529
536
545
BAJAJ-AUTO
2,662
2,691
2,733
2,763
2,804
BAJFINANCE
2,043
2,074
2,112
2,143
2,180
BAJAJFINSV
5,552
5,637
5,706
5,791
5,860
BPCL
382
388
391
397
401
BHARTIARTL
347
354
361
368
376
INFRATEL
312
317
320
325
328
CIPLA
504
512
524
533
545
COALINDIA
262
266
269
273
276
DRREDDY
1,820
1,856
1,924
1,960
2,028
EICHERMOT
28,766
29,099
29,650
29,983
30,533
GAIL
316
321
324
329
332
GRASIM
1,004
1,020
1,046
1,061
1,087
HCLTECH
881
888
895
902
908
HDFCBANK
1,965
1,979
2,000
2,014
2,035
HDFC
1,788
1,804
1,832
1,847
1,875
HEROMOTOCO
3,394
3,444
3,511
3,560
3,628
HINDALCO
219
224
229
233
239
HINDPETRO
305
309
313
316
320
HINDUNILVR
1,544
1,561
1,590
1,608
1,637
IBULHSGFIN
1,066
1,087
1,116
1,137
1,166
ICICIBANK
285
287
290
292
295
IOC
162
163
165
166
168
INDUSINDBK
1,894
1,909
1,928
1,944
1,963
INFY
1,161
1,170
1,179
1,189
1,198
ITC
276
279
282
285
287
KOTAKBANK
1,252
1,264
1,282
1,295
1,312
LT
1,295
1,304
1,320
1,330
1,346
LUPIN
729
732
739
743
749
M&M
806
816
832
842
857
MARUTI
8,134
8,281
8,403
8,550
8,672
NTPC
160
162
165
167
169
ONGC
183
184
187
188
190
POWERGRID
210
211
213
214
216
RELIANCE
916
924
930
937
943
SBIN
238
241
244
247
249
SUNPHARMA
425
434
450
459
474
TCS
3,482
3,519
3,556
3,593
3,630
TATAMOTORS
287
291
299
304
312
TATASTEEL
558
568
584
594
610
TECHM
669
677
687
695
704
TITAN
892
904
924
936
956
ULTRACEMCO
3,690
3,771
3,895
3,976
4,100
UPL
653
668
690
705
727
VEDANTA
254
259
266
271
278
WIPRO
261
263
266
268
271
YESBANK
323
328
339
345
355
ZEEL
539
547
558
566
577
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Technical & Derivatives Report
May 22, 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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