Technical & Derivatives Report
May 23, 2019
Sensex (39110) / Nifty (11738)
Exhibit 1: Nifty Daily Chart
Yesterday, markets opened slightly higher as indicated by the
SGX Nifty early in the morning. Subsequently, index consolidated
in a range of nearly 100 points throughout the day to eventually
close with one fourth of percent gains. On the sectoral front, two
heavyweight pockets, Banking and IT had diverging moves. The
banking index saw decent pull back; whereas the IT index
continues to underperform.
Now finally, we are stepping into the eventful day and it’s the
event (election verdict) which is keenly watched as it can change
the course of action completely for our markets. Markets had a
cheerful reaction to the exit poll’s result over the weekend. Now, it
would be very important to either see similar sort of outcome to
remain in the upward trajectory or the better verdict, market
would be highly overwhelmed. In this scenario, we would see
fresh record highs and a path to move towards 12000 or beyond
gets unfolded. On the flipside, we cannot just become
complacent and hence, one needs to be careful also, if the verdict
does not meet these above mentioned scenarios. Any
unfavourable outcome would trigger sell off in the market to
retest 11500 or below levels (depends on the actual numbers).
We must accept the fact, the forthcoming session is likely to see
roller coaster rides and the overall trading range would probably
be considerably higher than average range. Momentum traders
are advised to stay light and would be necessary to remain
flexible in case of any adverse reaction. We would like to
highlight a notable observation about the overall structure of the
midcap index. Last week we had clearly stated about this space
which is in a last phase of time as well as price correction. We
have already seen a good leap from lows and expect further legs
to unfold, which will eventually bring back the wider smile on
many traders’/ investors’ faces. We have been hopeful ahead of
the exit polls result and continue to remain so.
Key Levels
Support 1 - 11600
Resistance 1 -
11883
Support 2 - 11500
Resistance 2 -
12000
Nifty Bank Outlook - (30527)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index traded in a narrow range a day ahead of
the election results outcome. All the focus would be on the
outcome of the results today which could have a significant
impact on our markets in near term. The broader trend for Bank
Nifty continues to be positive. However, higher volatility could be
seen in intraday owing to the event outcome and the weekly F&O
expiry. Traders are advised to trade with proper money
management and adhere to pre-determined exit strategy. The
support for the index are placed around 30000 and 29700
whereas resistances are seen around 30900 and 31250.
Key Levels
Support 1 - 30000
Resistance 1 -
30900
Support 2 - 29700
Resistance 2 -
31250
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Technical & Derivatives Report
May 23, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 7.14%.
Bank Nifty futures open interest has increased by 4.15%
as market closed at 11737.90 levels.
The Nifty May future closed with a premium of 43.75
points against a premium of 6.05 points in last trading
session. The June series closed at a premium of 84.80
points.
The INDIA VIX has increased from 25.65 to 27.63.
At the same time, the PCR-OI of Nifty has decreased
from 1.20 to 1.13.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, GMRINFRA, RPOWER, ASHOKLEY
and GODREJIND.
Views
OI Gainers
Tuesday’s profit booking was followed by some
OI
PRICE
consolidation. The benchmark index remained range-
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
bound through the day and concluded the day tad above
MRPL
6160000
14.58
62.00
0.00
11700 mark.
HINDZINC
4518400
13.23
250.45
-1.70
FII’s were net buyers in the equity segment to the tune of
CHOLAFIN
726000
12.91
1418.00
-0.42
Rs.965 crores. In index futures front, they were net buyer
JINDALSTEL
24260950
11.00
152.40
-6.53
of Rs. 136 with good amount rise in open interest,
JUSTDIAL
2828000
9.78
742.75
1.06
indicating fixed activity in yesterday’s session.
INDUSINDBK
11412700
8.42
1518.90
5.26
In index options front, they were sellers of Rs. 2523
WIPRO
39958400
7.64
283.10
-1.01
crores with rise in OI. In call options, good amount of
SUNTV
6164000
5.22
554.30
1.93
build-up was seen in 11800, 12400 and 12500 strikes.
On the flip side, except for some open interest addition
in 11000 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
BERGEPAINT
1617000
-16.76
310.50
-0.38
the index futures and they are still intact. In last two day’s
UBL
1869700
-13.39
1425.10
-0.18
consolidation, we hardly saw any major open interest
REPCOHOME
445500
-11.76
418.35
-1.13
change. Stronger hands too have been adding longs in
CHENNPETRO
1114200
-8.57
210.15
1.69
index futures segment. Considering the above data
SRF
779750
-8.08
2931.95
-0.71
point, we expect continuation upmove beyond the
JETAIRWAYS
4439600
-7.69
157.50
8.11
psychological mark of 12000. Thus, intraday dips in
KSCL
595500
-7.46
477.55
2.76
market shall be an opportunity to buy ATM calls.
VGUARD
2136000
-7.29
207.35
0.48
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
BOSCHLTD
27.95
NIFTY
1.13
0.68
TECHM
26.41
BANKNIFTY
0.98
0.99
PVR
31.37
RELIANCE
0.53
0.47
JINDALSTEL
67.68
ICICIBANK
0.65
0.58
BHARATFIN
62.06
INFY
0.73
0.36
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Technical & Derivatives Report
May 23, 2019
FII Statistics for May 22, 2019
Turnover on May 22, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4557.89
4422.04
135.85
284054
23360.49
10.85
318936
23884.03
-10.42
FUTURES
FUTURES
INDEX
INDEX
63390.74
65914.34
(2523.60)
945328
77026.38
4.68
5315178
409192.43
1.32
OPTIONS
OPTIONS
STOCK
12761.35
13241.59
(480.24)
1517144
90988.09
(0.03)
STOCK
FUTURES
909874
50557.32
-9.47
FUTURES
STOCK
STOCK
6034.90
6199.38
(164.48)
157462
9212.81
5.16
747861
44252.35
-4.73
OPTIONS
OPTIONS
Total
86744.88
89777.35
(3032.47)
2903988
200587.77
2.74
TOTAL
732838
2568108
-0.92
Nifty Spot = 11737.90
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11700
318.45
Buy
11700
240.10
53.80
46.20
11753.80
36.60
63.40
11663.40
Sell
11800
264.65
Sell
11600
203.50
Buy
11700
318.45
Buy
11700
240.10
99.40
100.60
11799.40
67.25
132.75
11632.75
Sell
11900
219.05
Sell
11500
172.85
Buy
11800
264.65
Buy
11600
203.50
45.60
54.40
11845.60
30.65
69.35
11569.35
Sell
11900
219.05
Sell
11500
172.85
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 23, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
371
378
386
393
401
ASIANPAINT
1,338
1,353
1,363
1,379
1,389
AXISBANK
764
772
778
785
792
BAJAJ-AUTO
2,944
2,996
3,025
3,076
3,106
BAJFINANCE
3,374
3,411
3,436
3,473
3,497
BAJAJFINSV
8,028
8,125
8,199
8,296
8,370
BPCL
370
377
383
390
396
BHARTIARTL
325
330
334
339
343
INFRATEL
261
265
273
277
285
BRITANNIA
2,789
2,821
2,849
2,881
2,910
CIPLA
535
544
559
568
583
COALINDIA
235
238
240
243
245
DRREDDY
2,595
2,626
2,653
2,684
2,711
EICHERMOT
20,537
20,881
21,090
21,434
21,644
GAIL
330
333
338
341
345
GRASIM
839
848
858
868
878
HCLTECH
1,042
1,051
1,063
1,073
1,085
HDFCBANK
2,377
2,391
2,409
2,423
2,440
HDFC
2,101
2,120
2,138
2,156
2,174
HEROMOTOCO
2,607
2,654
2,684
2,730
2,761
HINDALCO
193
196
197
200
202
HINDUNILVR
1,729
1,749
1,767
1,786
1,805
IBULHSGFIN
756
770
789
804
823
ICICIBANK
398
402
405
409
412
IOC
150
153
155
157
159
INDUSINDBK
1,325
1,422
1,479
1,576
1,634
INFY
700
705
712
716
723
ITC
294
297
300
303
306
JSW STEEL
268
272
277
281
286
KOTAKBANK
1,472
1,483
1,501
1,512
1,530
LT
1,427
1,444
1,459
1,476
1,491
M&M
626
633
639
646
651
MARUTI
6,801
6,850
6,890
6,940
6,980
NTPC
126
128
129
131
132
ONGC
173
175
176
179
180
POWERGRID
180
181
183
184
187
RELIANCE
1,320
1,330
1,345
1,355
1,370
SBIN
330
336
339
345
348
SUNPHARMA
402
412
418
427
433
TCS
2,046
2,064
2,093
2,111
2,140
TATAMOTORS
173
176
178
181
184
TATASTEEL
461
467
474
480
487
TECHM
731
740
754
763
777
TITAN
1,215
1,228
1,239
1,253
1,264
ULTRACEMCO
4,556
4,602
4,638
4,683
4,719
UPL
981
998
1,008
1,025
1,036
VEDANTA
163
165
166
168
170
WIPRO
277
280
284
287
290
YESBANK
132
135
138
141
144
ZEEL
332
337
344
349
356
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Technical & Derivatives Report
May 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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