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Technical & Derivatives Report
January 2
3
, 2020
Sensex (
115
) / Nifty
(1
2
107
)
The Nifty started trading for the session on a positive note above
the 12200 mark. However, it failed to show any follow up move
post opening and corrected for the rest of the session to end with
a loss of another half a percent.
The indices failed to show any strength post a positive
opening yesterday which led to a continuation of the corrective
phase. The index consolidated around its intraday support of
12120-12130 during the day but we did not witness any
pullback move and finally, it breached the intraday support in the
last hour to end the session around the 12100 mark. In the last
three sessions, the Nifty index has corrected from its high of
12430 seen during the opening on Monday. If we look at the
positional chart, it seems that the index is trading in a channel
and the lower end of the channel is placed in the range of
12000-12050. Also, the recent correction in the first week of
January retraced the previous upmove by 78.6% before resuming
its uptrend and this time, 78.6% retracement of the recent
upmove too is placed in this range of 12050-12000. Hence, we
expect that the downside from hereon at least from a near term
perspective looks limited and traders could utilize dips in this
range of 12050-12000 as a buying opportunity. The probability
of a pullback move or a resumption of the uptrend would be high
at this zone and the risk rewards too would be favorable. On the
higher side, the immediate resistance for the near term is seen in
the range of 12200-12250.
Key Levels
Support 1 – 12050 Resistance 1 – 12200
Support 2 – 12000 Resistance 2 – 12250
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
30
701
)
On similar lines, Bank Nifty witnessed a positive start however it
lacked follow up move and slipped lower throughout the session
to end with loss of 0.79% tad above 30700 levels. For the last few
sessions, the bank nifty has been a clear underperformer and
has been the major culprit for the weakness in the benchmark
index Nifty. On the daily chart, the bank index has broken below
the key support at 30800 which previously twice acted as support
coinciding with 89EMA. One needs to see how the follow up of
the breakdown is as the hourly oscillators are in a deep oversold
territory. Sustained trade below 30800 can drag bank index lower
to test 200DMA at 30070 whereas a close back above 30800
can lead to a bounce-back towards 31170-31350 levels.
Key Levels
Support 1 – 30580 Resistance 1 – 30800
Support 2 – 30300 Resistance 2 – 31170
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
January 23
, 2020
Nifty Vs OI
Views
We had a cheerful start after Tuesday’s fall; however,
the index failed to sustain at the higher levels and lost
entire early morning gains in the initial hour of trade.
As the day progressed, we saw follow-up selling to
correct below 12100 mark. After some consolidation
around 12100, index concluded the session with
another cut of 0.52%.
FIIs were net sellers in the cash market segment to the
tune of only Rs. 176 crores. In index futures, they sold
worth Rs. 927 crores with good amount of rise in open
interest, indicating fresh selling took place in
yesterday’s trade.
Once again, the open interest activity in Nifty remained
subdued; however decent amount of shorts were
formed in the banking index for the third consecutive
sessions. In the options front, we saw fresh writing in
12100-12200 call options. On the flip side, put writers
of 12100 looked scared and hence covered some of
their positions. However, some writing was seen in
12050 puts. In the recent fall, we haven’t seen any
relevant selling in Nifty futures and as we are hovering
around the important support zone of 12000-12100,
traders are advised avoiding any bearish bets.
Comments
The Nifty futures open interest has increased by 0.67%
Bank Nifty futures open interest has increased 10.77% as
market closed at 12106.90 levels.
The Nifty January future closed with a premium of 38.35
points against a premium of 33.25 points in last trading
session. The February series closed at a premium of
75.80 points.
The INDIA VIX has increased from 15.86 to 16.36.
At the same time, the PCR-OI of Nifty has decreased
from 1.08 to 1.00.
Few of the liquid counters where we have seen high cost
of carry are IDEA, EQUITAS, IDFCFIRSTB, CADILAHC
and TORNTPOWER.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
OIL 8745627 40.91 137.65 -6.50
COALINDIA 29575800 35.37 191.90 -5.10
NTPC 79900800 34.40 112.15 -4.59
PFC 54888600 31.76 108.85 2.53
POWERGRID 29636000 30.74 200.05 -1.09
IOC 117188000 27.57 113.65 0.40
ONGC 51250000 23.19 116.40 -5.42
TORNTPOWER 3891000 16.32 315.95 0.57
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BALKRISIND 2018400 -6.69 1098.55 0.76
JINDALSTEL 30545000 -3.86 179.15 -3.60
TORNTPHARM 408000 -3.77 2000.90 -0.98
HCLTECH 26108600 -3.50 590.65 1.11
FEDERALBNK 62762000 -3.50 93.75 -0.90
TATACHEM 3048300 -3.37 748.40 -0.24
MRF 20100 -3.23 67845.55 -0.09
INFY 27873600 -3.16 770.20 1.16
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.00 0.78
BANKNIFTY 0.61 0.91
RELIANCE 0.42 0.48
ICICIBANK 0.48 0.76
INFY 0.61 0.52
Historical Volatility
SCRIP HV
ONGC 33.68
NTPC 31.06
OIL 47.01
ICICIPRULI 26.14
JUSTDIAL 39.60
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Technical & Derivatives Report
January 23
, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot
=
121
06.90
Lot Size = 75
FII Statistics for
January
2
2
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3665.53 4592.71 (927.18) 212989 17783.21 8.99
INDEX
OPTIONS
330867.73 330845.02 22.71
836860 67579.63 3.70
STOCK
FUTURES
14587.93 16326.51 (1738.58) 1578877 104974.56 1.45
STOCK
OPTIONS
6602.18 6491.25 110.93
93982 6458.37 0.79
Total 355723.37
358255.49
(2532.12) 2722708
196795.77
2.66
Turnover on
January
2
2
, 20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
303643 22429.87 12.16
INDEX
OPTIONS
21603065 1530914.04 32.50
STOCK
FUTURES
812954 54544.27 13.05
STOCK
OPTIONS
939060 66649.69 13.26
TOTAL 2,36,58,722
1674537.87 30.57
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12100 113.45
51.15 48.85 12151.15
Sell 12200 62.30
Buy 12100 113.45
83.70 116.30 12183.70
Sell 12300 29.75
Buy 12200 62.30
32.55 67.45 12232.55
Sell 12300 29.75
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12100 67.75
28.35 71.65 12071.65
Sell 12000 39.40
Buy 12100 67.75
45.45 154.55 12054.55
Sell 11900 22.30
Buy 12000 39.40
17.10 82.90 11982.90
Sell 11900 22.30
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 23
, 2020
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 377 380
383 386 389
ASIANPAINT 1,736 1,758
1,788 1,810 1,840
AXISBANK 698 705
714 721 730
BAJAJ-AUTO 3,046 3,061
3,086 3,101 3,125
BAJFINANCE 4,088 4,115
4,151 4,178 4,214
BAJAJFINSV 9,443 9,495
9,548 9,600 9,653
BPCL 446 451
459 463 471
BHARTIARTL 498 506
515 523 532
INFRATEL 231 236
241 246 250
BRITANNIA 3,062 3,084
3,111 3,134 3,161
CIPLA 464 468
474 478 484
COALINDIA 186 189
194 197 203
DRREDDY 3,014 3,038
3,072 3,096 3,129
EICHERMOT 20,772 20,936
21,108 21,272 21,444
GAIL 124 125
126 127 129
GRASIM 754 774
786 806 818
HCLTECH 576 583
589 597 603
HDFCBANK 1,223 1,232
1,243 1,252 1,264
HDFC 2,366 2,391
2,437 2,463 2,509
HEROMOTOCO 2,365 2,382
2,396 2,413 2,427
HINDALCO 200 202
205 207 210
HINDUNILVR 2,011 2,031
2,047 2,068 2,084
ICICIBANK 512 517
526 532 540
IOC 109 111
114 116 119
INDUSINDBK 1,308 1,318
1,333 1,343 1,358
INFY 759 765
771 777 783
ITC 236 237
238 239 241
JSW STEEL 262 264
267 269 271
KOTAKBANK 1,538 1,562
1,600 1,624 1,662
LT 1,279 1,287
1,299 1,307 1,319
M&M 546 550
553 557 561
MARUTI 6,939 7,037
7,206 7,304 7,473
NESTLEIND 15,194 15,371
15,478 15,655 15,762
NTPC 109 111
113 115 117
ONGC 112 114
118 120 124
POWERGRID 189 195
198 204 208
RELIANCE 1,521 1,527
1,537 1,543 1,553
SBIN 312 314
316 318 319
SUNPHARMA 440 443
449 452 457
TCS 2,161 2,184
2,197 2,220 2,233
TATAMOTORS 179 182
187 191 196
TATASTEEL 469 472
476 479 483
TECHM 768 773
782 787 796
TITAN 1,165 1,171
1,179 1,185 1,192
ULTRACEMCO 4,416 4,447
4,493 4,524 4,570
UPL 537 550
566 579 596
VEDANTA 149 151
155 157 160
WIPRO 241 244
248 250 254
YESBANK 37 38
38 39 39
ZEEL 260 280
292 312 324
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Technical & Derivatives Report
January 23
, 2020
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]broking.com
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