Technical & Derivatives Report
May 22, 2019
Sensex (38970) / Nifty (11709)
Exhibit 1: Nifty Daily Chart
Monday’s colossal rally was followed by a gap up opening at
new record highs. During the first half, index consolidated in a
range; but second half turned out to be a disappointing one as
we saw broad based sell off till the closing trade of the session. In
this process, index shaved off precisely a percent from Monday’s
massive upsurge.
Yesterday, it was a typical day which occurs mainly after a strong
upward rally as most of the traders who were in a denial mode
during the steep relentless intraday up move, eventually lose their
patience and that left out feeling compels them to initiate a trade
when market makes new high. And as we all know, trading
market is not as easy as it appears. Eventually, it turns out to be a
flatter to deceive kind of scenario. In simple words, it’s an attempt
to threaten weak traders and since, the actual election verdict is
around the corner, we are likely to see such volatile swings in next
couple of days.
As far as levels are concerned, 11650 - 11600 would now be
seen as a key support zone and despite yesterday’s correction, we
expect this decline to get bought into. On the higher side, 11800
- 11883 would now act as intraday hurdles for the Nifty. The
coming session is likely to remain in this broad range and traders
are advised to lighten up positions a bit and should ideally
prepare themselves up for roller coaster moves. It’s advisable to
keep focusing on individual stocks and aggressive bets ahead of
the event are not recommended.
Key Levels
Support 1 - 11650
Resistance 1 -
11800
Support 2 - 11600
Resistance 2 -
11883
Nifty Bank Outlook - (30308)
Exhibit 2: Nifty Bank Daily Chart
In line with the previous day’s momentum, the Nifty Bank index
opened marginally higher in yesterday's session. However, the
index witnessed some sell-off at the start of the session and it
crept lower as the day progressed to end with a loss of about 450
points. If we look at last two day's candlestick on the daily chart,
it resembles a 'Dark Cloud Cover' pattern which in technical
analysis indicates a shift in momentum to the downside post a
price rise. However, Monday's gap area would be seen as a
support as traders may revamp the demand in this range. Also,
we have the major event outcome lined up on Thursday which
would provide the direction going ahead. Hence, this higher
volatility will set the base for the next trended move which we
expect to be on the upside. Hence, day traders should look to
keep the positions light whereas positional traders/investors
should look to buy stocks in this dip. The support for the index are
placed around 30000 and 29700 whereas resistances are seen
around 30630 and 30930.
Key Levels
Support 1 - 30000
Resistance 1 -
30630
Support 2 - 29700
Resistance 2 -
30930
www.angelbroking.com
Technical & Derivatives Report
May 22, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.33%.
Bank Nifty futures open interest has decreased by 4.50%
as market closed at 11709.10 levels.
The Nifty May future closed with a premium of 6.05
points against a premium of 31.20 points in last trading
session. The June series closed at a premium of 47.40
points.
The INDIA VIX has increased from 23.67 to 25.65.
At the same time, the PCR-OI of Nifty has decreased
from 1.29 to 1.20.
Few of the liquid counters where we have seen high cost
of carry are INFIBEAM, RPOWER, VGUARD, ADANIENT
and CONCOR.
Views
OI Gainers
The benchmark index started-off the session on a positive
OI
PRICE
note but the follow-up buying was missing. During the
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
day, index remained under pressure and gradually
JUSTDIAL
2576000
20.66
714.75
6.95
corrected below 11700 mark.
ADANIPOWER
178620000
13.61
46.00
-1.92
FII’s were net buyers in the equity segment to the tune of
ADANIPOWER
178620000
13.61
46.00
-1.92
Rs.1185 crores. In index futures front, they were
BALKRISIND
2056000
11.50
767.20
-1.36
marginal sellers with rise in open interest, indicating
ACC
2450400
8.79
1609.85
-3.21
mixed activity in yesterday’s session.
NATIONALUM
39886000
7.79
49.20
-4.64
In index options front, they were buyers of Rs. 573 crores
TORNTPOWER
2403000
7.66
241.55
-2.48
with rise in OI. In call options, good amount of build-up
BOSCHLTD
174210
6.63
17410.70
-1.29
was seen in 12000, 12200 and 12500 strikes. On the
flip side, except for some open interest addition in 11500
put we could hardly see any relevant activity.
OI Losers
In the recent correction, good amount of long unwinding
OI
PRICE
SCRIP
OI
PRICE
took place and we hardly saw any relevant shorting.
CHG. (%)
CHG. (%)
Prior and on the exit poll day, huge longs were formed in
UJJIVAN
2422400
-24.75
330.70
-2.84
the index futures and they are still intact. Yesterday, we
CHENNPETRO
1218600
-11.73
207.00
-3.51
hardly saw any major open interest change. Stronger
BEL
26220000
-8.60
96.95
-3.00
hands too have turned net buyers in equities and now
RELCAPITAL
14230500
-8.52
121.55
-2.57
they are adding longs in index futures segment.
TORNTPHARM
667500
-8.25
1601.50
-3.42
Considering the above data point, we expect
CEATLTD
852000
-7.43
983.30
-2.27
continuation of today’s rally beyond the psychological
KSCL
643500
-6.74
466.70
-2.66
mark of 12000. Thus, intraday dips in market shall be
CGPOWER
23100000
-6.10
37.90
-2.81
an opportunity to buy ATM calls.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
UBL
29.94
NIFTY
1.20
0.75
TORNTPHARM
31.47
BANKNIFTY
0.94
1.27
NATIONALUM
46.37
RELIANCE
0.51
0.42
JUSTDIAL
65.22
ICICIBANK
0.57
0.66
TATAMTRDVR
72.65
INFY
0.75
0.44
www.angelbroking.com
Technical & Derivatives Report
May 22, 2019
FII Statistics for May 21, 2019
Turnover on May 21, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4654.81
4741.22
(86.41)
256244
20929.61
1.60
354756
26661.03
-21.98
FUTURES
FUTURES
INDEX
INDEX
71849.38
71276.82
572.56
903038
73373.60
9.22
5278945
403845.53
-3.75
OPTIONS
OPTIONS
STOCK
14597.50
15481.58
(884.08)
1517665
90623.42
0.11
STOCK
FUTURES
927112
55843.40
-17.94
FUTURES
STOCK
STOCK
6156.81
6268.28
(111.47)
149730
8726.17
4.74
737624
46447.40
-17.25
OPTIONS
OPTIONS
Total
97258.50
97767.90
(509.40)
2826677
193652.79
3.24
TOTAL
732838
2568108
-79.25
Nifty Spot = 11709.10
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11700
275.90
Buy
11400
264.45
51.25
48.75
11751.25
38.80
61.20
11361.20
Sell
11800
224.65
Sell
11300
225.65
Buy
11700
275.90
Buy
11400
264.45
96.90
103.10
11796.90
75.35
124.65
11324.65
Sell
11900
179.00
Sell
11200
189.10
Buy
11800
224.65
Buy
11300
225.65
45.65
54.35
11845.65
36.55
63.45
11263.45
Sell
11900
179.00
Sell
11200
189.10
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
www.angelbroking.com
Technical & Derivatives Report
May 22, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
369
378
395
404
421
ASIANPAINT
1,334
1,346
1,365
1,377
1,396
AXISBANK
758
765
779
786
799
BAJAJ-AUTO
2,923
2,951
2,997
3,026
3,072
BAJFINANCE
3,319
3,376
3,432
3,489
3,545
BAJAJFINSV
7,972
8,079
8,207
8,314
8,442
BPCL
351
363
380
392
409
BHARTIARTL
322
326
333
338
345
INFRATEL
265
270
276
282
287
BRITANNIA
2,763
2,806
2,837
2,879
2,910
CIPLA
537
548
564
575
591
COALINDIA
231
234
238
241
245
DRREDDY
2,548
2,607
2,654
2,713
2,760
EICHERMOT
20,467
20,684
21,030
21,247
21,593
GAIL
326
332
342
348
357
GRASIM
836
851
877
892
917
HCLTECH
1,040
1,048
1,061
1,069
1,082
HDFCBANK
2,368
2,386
2,418
2,436
2,467
HDFC
2,058
2,086
2,133
2,161
2,207
HEROMOTOCO
2,598
2,628
2,677
2,707
2,756
HINDALCO
190
193
196
200
203
HINDUNILVR
1,761
1,773
1,785
1,798
1,810
IBULHSGFIN
770
789
813
832
855
ICICIBANK
390
395
403
408
416
IOC
148
151
155
158
162
INDUSINDBK
1,397
1,423
1,468
1,494
1,539
INFY
698
704
713
719
728
ITC
302
304
307
309
312
JSW STEEL
272
276
281
285
290
KOTAKBANK
1,465
1,476
1,496
1,507
1,527
LT
1,425
1,437
1,450
1,461
1,474
M&M
617
628
645
656
674
MARUTI
6,624
6,750
6,944
7,069
7,263
NTPC
127
128
129
130
131
ONGC
172
174
175
176
178
POWERGRID
181
182
185
187
190
RELIANCE
1,309
1,324
1,346
1,361
1,383
SBIN
329
333
340
345
352
SUNPHARMA
395
402
413
420
431
TCS
2,074
2,092
2,120
2,138
2,166
TATAMOTORS
166
172
179
184
192
TATASTEEL
459
466
475
482
492
TECHM
759
766
775
783
792
TITAN
1,225
1,235
1,243
1,253
1,261
ULTRACEMCO
4,511
4,576
4,682
4,746
4,853
UPL
967
983
1,013
1,030
1,060
VEDANTA
161
163
166
168
171
WIPRO
283
285
288
290
293
YESBANK
135
138
142
145
148
ZEEL
330
339
353
362
376
www.angelbroking.com
Technical & Derivatives Report
May 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]
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company cove*ed by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.
www.angelbroking.com