Technical & Derivatives Report
April 23, 2019
Sensex (38645) / Nifty (11594)
Exhibit 1: Nifty Daily Chart
A sudden spike in crude oil prices spooked traders’ fraternity
across the globe and we being the most sensitive economy had a
massive impact of the same. Our markets began marginally
lower but within a blink of an eye, we were off more than 70 - 80
points to sneak below the 11700 mark. It was followed by some
consolidation till the midsession; but as the second half
underway, the selling intensified across the broader market and
hence, yet another bout of sell off eventually dragged the Nifty
below 11600 on a closing basis.
It was certainly not the kind of trading day most of the market
participants would have wished for. During the day, index kept on
breaching few key intraday supports one after another. Due to
last couple of days’ correction, the breakout happened last
Tuesday has now been negated. With this, we are very much
close to crucial support of 11549. Traders are advised to keep a
close eye on this key level. A violation of this point on a
sustainable basis could trigger further correction to see lower
levels of 11475 - 11400 or may even get worsen. As of now, we
would hope for crude oil to cool off a bit or may be some other
development which would act as a savior for our markets.
At this juncture, the ideal strategy would be to stay light on
positions and take all the above mentioned scenarios into a
consideration. It’s better not to pre-empt any kind of moves and
rather try to adopt a confirmatory approach for a while. As far as
resistance levels are concerned, 11653 followed by 11705 would
now be seen as immediate hurdles.
Key Levels
Support 1 - 11549
Resistance 1 -
11653
Support 2 - 11475
Resistance 2 -
11705
Nifty Bank Outlook - (29688)
Exhibit 2: Nifty Bank Daily Chart
Post opening on a marginal positive note, the Nifty Bank index
witnessed a sell-off right from the word go and remained under
pressure throughout the day to end with a loss of over 500
points. As mentioned in our yesterday's report, the Nifty Bank
index has resisted twice around 30650 in recent past and
Thursday's move had already indicated signs of profit booking.
We saw a follow-up move yesterday in which the immediate
supports were breached in the opening hour itself. A sharp rise in
INDIA VIX usually leads to some nervousness amongst short term
traders and the same was observed in yesterday's trading session.
These last couple of session has certainly applied brakes to the
momentum and hence there could be some roller coaster rides in
near term. Hence, traders are advised to stay light on positions.
The immediate supports for the index are placed around 29640
and 29360 whereas resistance is seen in the range of 30000-
30050.
Key Levels
Support 1 - 29640
Resistance 1 -
30000
Support 2 - 29360
Resistance 2 -
30050
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Technical & Derivatives Report
April 23, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.04%.
Bank Nifty futures open interest has decreased by
11.30% as market closed at 11594.45 levels.
The Nifty April future closed with a premium of 24.45
points against a premium of 18.30 points in last trading
session. The May series closed at a premium of 98.85
points.
The INDIA VIX has increased from 22.73 to 24.05.
At the same time, the PCR-OI of Nifty has decreased
from 1.58 to 1.35.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, RPOWER, PCJEWELLER,
RELCAPITAL and GMRINFRA.
Views
Post Friday’s sharp profit booking from the record highs,
we began today’s session with a downside gap. As the
OI Gainers
day progressed, selling pressure amplified to breach the
OI
PRICE
SCRIP
OI
PRICE
support zone of 11650-11680 and then Nifty corrected
CHG. (%)
CHG. (%)
JETAIRWAYS
7255600
49.64
154.70
0.03
below 11600 mark on the closing basis.
DLF
68055000
34.35
172.95
-5.82
FII’s were marginal buyers in the equity segment. In
RPOWER
98048000
17.76
7.90
-3.05
index futures front, they were buyers of Rs. 294 crores
REPCOHOME
1080200
13.00
422.55
-2.81
with decent amount of decline in open interest, indicating
blend of short covering and long unwinding.
APOLLOTYRE
11703000
12.97
209.65
-4.56
In index options front, they were buyers of Rs. 3411
BHARTIARTL
35660900
12.51
349.40
1.63
crores with rise in OI. In call options, massive writing was
PIDILITIND
2660000
11.62
1229.95
-1.97
seen in 11700 and 11800 call options. This has also
HINDALCO
35553000
11.52
200.40
-3.30
resulted, maximum open interest concentration shifting
lower to 11700 from 12000. On the flip side, 11550
OI Losers
and 11600 puts added some fresh positions along with
OI
PRICE
unwinding in 11400, 11700 and 11800 strikes. Highest
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
outstanding contracts in put option are firmly placed at
RELCAPITAL
13950000
-14.92
133.00
-8.42
11500, which may act as a strong base now.
NIITTECH
1577250
-11.23
1319.10
0.29
We witnessed addition of some fresh shorts in Nifty;
IGL
3704250
-8.05
314.15
-2.88
whereas, some profit booking took place in the banking
GODREJIND
1218000
-6.45
504.50
-2.50
index. In the week gone by, we saw decent long
TORNTPOWER
2559000
-6.37
259.30
0.37
formation in both the index and these positions are still
ALBK
22386000
-6.06
48.65
-4.51
intact. The volatility index surged 6% due to sharp sell-off
INDIGO
2826600
-5.91
1488.85
-4.20
and is now trading near the hurdle of 24%, further rise in
RECLTD
28866000
-5.35
147.60
-3.50
volatility may bring this percentage around 28%-30%. At
current juncture, traders should wait for the follow-up
move before initiating any directional bets.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
BPCL
48.03
NIFTY
1.35
0.81
MUTHOOTFIN
33.57
BANKNIFTY
0.70
0.88
APOLLOTYRE
34.25
RELIANCE
0.38
0.52
IBULHSGFIN
71.05
ICICIBANK
0.55
0.67
CESC
36.49
INFY
0.55
0.28
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Technical & Derivatives Report
April 23, 2019
FII Statistics for April 22, 2019
Turnover on April 22, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
7237.54
6943.39
294.16
263145
21076.91
(3.90)
342286
25430.47
21.44
FUTURES
FUTURES
INDEX
INDEX
130380.84
126969.24
3411.60
917575
72198.34
4.06
9668492
678433.18
-66.46
OPTIONS
OPTIONS
STOCK
24434.84
24889.14
(454.30)
1447956
91716.53
3.27
STOCK
FUTURES
1309269
79485.38
39.55
FUTURES
STOCK
STOCK
7865.96
7954.31
(88.34)
134334
8414.84
(3.95)
1010474
63948.89
2.08
OPTIONS
OPTIONS
Total
169919.18
166756.07
3163.11
2763010
193406.62
2.43
TOTAL
623820
2238702
-60.83
Nifty Spot = 11594.45
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11600
66.70
Buy
11600
47.45
39.10
60.90
11639.10
27.65
72.35
11572.35
Sell
11700
27.60
Sell
11500
19.80
Buy
11600
66.70
Buy
11600
47.45
57.10
142.90
11657.10
39.30
160.70
11560.70
Sell
11800
9.60
Sell
11400
8.15
Buy
11700
27.60
Buy
11500
19.80
18.00
82.00
11718.00
11.65
88.35
11488.35
Sell
11800
9.60
Sell
11400
8.15
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 23, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
381
386
389
394
397
ASIANPAINT
1,421
1,432
1,446
1,457
1,471
AXISBANK
740
748
758
766
777
BAJAJ-AUTO
3,020
3,035
3,057
3,073
3,095
BAJFINANCE
2,957
2,974
2,992
3,009
3,027
BAJAJFINSV
7,378
7,425
7,503
7,550
7,627
BPCL
329
335
345
350
360
BHARTIARTL
326
338
348
360
370
INFRATEL
287
293
302
308
317
BRITANNIA
2,952
2,976
2,995
3,019
3,038
CIPLA
552
556
561
566
571
COALINDIA
248
250
251
253
255
DRREDDY
2,752
2,774
2,797
2,819
2,842
EICHERMOT
19,930
20,166
20,580
20,815
21,230
GAIL
339
342
347
350
355
GRASIM
847
856
863
872
880
HCLTECH
1,084
1,093
1,103
1,112
1,123
HDFCBANK
2,221
2,245
2,285
2,309
2,349
HDFC
1,909
1,931
1,971
1,993
2,033
HEROMOTOCO
2,643
2,666
2,708
2,731
2,773
HINDALCO
194
197
203
206
211
HINDUNILVR
1,723
1,732
1,738
1,747
1,753
IBULHSGFIN
681
708
751
778
821
ICICIBANK
387
391
398
402
409
IOC
147
148
150
152
154
INDUSINDBK
1,634
1,663
1,711
1,740
1,788
INFY
710
715
721
726
731
ITC
298
300
303
305
307
JSW STEEL
281
286
294
299
308
KOTAKBANK
1,337
1,347
1,356
1,366
1,376
LT
1,343
1,351
1,361
1,370
1,380
M&M
662
668
677
682
692
MARUTI
7,224
7,273
7,349
7,397
7,474
NTPC
134
135
136
137
138
ONGC
154
156
159
161
163
POWERGRID
192
193
195
197
198
RELIANCE
1,326
1,335
1,351
1,361
1,377
SBIN
304
307
310
313
316
SUNPHARMA
445
450
457
462
470
TCS
2,131
2,146
2,161
2,176
2,191
TATAMOTORS
228
231
235
239
243
TATASTEEL
525
530
538
542
550
TECHM
793
799
805
811
817
TITAN
1,112
1,118
1,125
1,131
1,138
ULTRACEMCO
4,122
4,164
4,221
4,263
4,320
UPL
915
926
934
945
954
VEDANTA
172
173
176
178
181
WIPRO
284
286
287
290
291
YESBANK
226
232
243
250
261
ZEEL
388
392
399
403
410
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Technical & Derivatives Report
April 23, 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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