Technical & Derivatives Report
July 23, 2018
Sensex (36496) / Nifty (11010)
Exhibit 1: Nifty Daily Chart
It was a week of consolidation for our markets as there were no
major triggers on the global as well as domestic front. However,
trading was not at all easy due to some volatile swings within the
range of nearly 150 points. Friday’s decent rally eventually
resulted into reclaiming of the 11000 mark on a closing basis.
We would like to highlight that for the first time Nifty managed to
close above 11000 for the second straight week.
Last week’s action does not give any major cue; but, if we
combine it with the previous week’s development, we can
construe this as a breather or as we generally say, probably a
‘Lull before the storm’. Last week, we highlighted couple of key
developments on charts i.e. a breakout from the ‘Diamond’
pattern along with the ‘RSI-Smoothened’ crossing the threshold
level of 70 in the upward direction. Hence, we continue with our
stance as long as Nifty remains above 10750 - 10700. Till then
The midcap index has precisely taken a support at the lower end
any intra-week decline according to us would be a buying
of the ‘Falling Channel’ and on Tuesday, we witnessed a
opportunity. In fact, we are of the opinion, index is gearing up for
formation of bullish ‘Engulfing’ pattern. More importantly, it
record highs and we will not be surprised to see it happening in
coincides with the weekly ’89-EMA’ support along with the
next 1 - 2 weeks. As far as immediate supports are concerned,
‘Positive divergence’ in ‘RSI-Smoothened’ on daily chart. Thus,
10920 followed by 10860 would be seen as a key support zone.
traders are advised to focus on quality propositions within this
universe in order to fetch higher returns.
We would also want to draw attention towards another
Key Levels
noteworthy observation. The ‘Nifty Midcap 50’ index has given a
first sign of near term bottom. We know it’s quite early to take this
Support 1 - 10920
Resistance 1 - 11040
stance, but the way some of the developments happened, we are
Support 2 - 10860
Resistance 2 - 11078
impelled to do so.
Nifty Bank Outlook - (26873)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index had consolidated in the
range of 26640 - 27190. Within this space, the stock specific
momentum continued where opportunities were seen on both
sides of trade. However, if we analyze the broader picture, then
the index continues to trade in an uptrend and last week's
consolidation just seem to be a time wise correction within an
uptrend. Hence, we continue with our optimistic view on the index
and advise traders to trade with a positive bias. A move in the
index above last week's high of 27190 should lead the index
towards the January high around 27650 in near term. On the
flipside, the immediate support in the index is placed around last
week's low of 26640.
Key Levels
Support 1 - 26640
Resistance 1 - 27025
Support 2 - 26600
Resistance 2 - 27190
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Technical & Derivatives Report
July 23, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 4.57%
Bank Nifty futures open interest has decreased by 0.43%
as market closed at 11010.20 levels.
The Nifty July future closed with a premium of 14.65
points against a premium of 16.45 points in last trading
session. The August series closed at a premium of 30.95
points.
The INDIA VIX has decreased from 13.59 to 13.54. At
the same time, the PCR-OI of Nifty has increased from
1.64 to 1.71.
Few of the liquid counters where we have seen high cost
of carry are SOUTHBANK, JPASSOCIAT, NHPC,
MUTHOOTFIN and UPL.
Views
OI Gainers
FIIs were buyers in cash market segment to the tune of
OI
PRICE
SCRIP
OI
PRICE
Rs. 310 crores. At the same time, they sold worth
CHG. (%)
CHG. (%)
Rs. 985 crores in index futures with rise in open interest,
INDIANB
2982000
29.88
310.25
-5.05
indicating short formation on Friday’s session.
BAJAJ-AUTO
3597250
20.87
2839.60
-8.80
In index options front, they were net buyers of
APOLLOHOSP
1056500
16.93
929.55
-2.41
Rs. 282 crores with rise in OI. In call option, we could
BAJFINANCE
6189000
13.36
2721.35
8.27
hardly see any relevant open interest addition;
CEATLTD
1769950
11.83
1356.10
7.50
however, decent unwinding was seen in 11000 and
PTC
21848000
10.43
69.15
-0.93
11200 strikes. On the flip side, 10900, 11000 and
RCOM
104020000
10.04
12.95
1.56
11050 put options added good amount of positions. For
RELINFRA
9363900
9.67
386.75
2.07
July series, the maximum open interest concentration in
call options has shifted higher to 11100 from 11000
strike; whereas, for puts remains intact at 10800.
OI Losers
Last week, we saw the benchmark index hovering in the
OI
PRICE
SCRIP
OI
PRICE
range of 10900-11100 levels. Meanwhile, index futures
CHG. (%)
CHG. (%)
BERGEPAINT
1542200
-25.66
309.95
0.57
we witnessed addition of fresh long positions. At the
RBLBANK
5730000
-14.91
577.80
3.63
same time, stronger hands too continued adding longs in
index futures segment along with meaningful writing in
PVR
900800
-12.98
1151.05
1.51
index put options. Considering the above data points, we
NIITTECH
1243500
-12.83
1112.75
0.69
expect market to remain optimistic going ahead and we
AJANTPHARM
965500
-12.19
1019.25
5.92
may soon see index heading above the resistance zone
VGUARD
2415000
-10.36
193.75
2.93
of 11080-11000 levels. Thus, traders are advised to hold
TORNTPOWER
1827000
-9.10
221.95
-0.20
on to their longs unless we don’t see any relevant change
CHOLAFIN
744500
-6.65
1520.40
2.13
in data.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
BAJAJ-AUTO
52.26
NIFTY
1.71
0.92
BAJFINANCE
45.56
BANKNIFTY
0.89
0.80
CEATLTD
45.77
TATAMOTORS
0.31
0.46
BAJAJFINSV
38.22
RELIANCE
1.18
0.56
INFIBEAM
45.17
ICICIBANK
0.44
0.36
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Technical & Derivatives Report
July 23, 2018
FII Statistics for July 20, 2018
Turnover on July 20, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2110.62
3096.11
(985.49)
328968
27514.72
5.59
183327
16683.71
-17.54
FUTURES
FUTURES
INDEX
INDEX
45250.38
45532.14
(281.77)
894033
75856.08
1.37
3822635
360965.07
-78.39
OPTIONS
OPTIONS
STOCK
14875.28
14281.02
594.26
1132704
79759.03
(0.90)
STOCK
FUTURES
977355
67995.36
8.32
FUTURES
STOCK
STOCK
10894.43
11221.69
(327.27)
123570
8385.27
1.57
989478
78890.68
18.46
OPTIONS
OPTIONS
Total
73130.70
74130.97
(1000.27)
2479275
191515.10
0.86
TOTAL
5972795
524534.82
-71.18
Nifty Spot = 11010.20
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11000
80.70
Buy
11000
61.50
46.15
53.85
11046.15
27.40
72.60
10972.60
Sell
11100
34.55
Sell
10900
34.10
Buy
11000
80.70
Buy
11000
61.50
68.55
131.45
11068.55
41.10
158.90
10958.90
Sell
11200
12.15
Sell
10800
20.40
Buy
11100
34.55
Buy
10900
34.10
22.40
77.60
11122.40
13.70
86.30
10886.30
Sell
11200
12.15
Sell
10800
20.40
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
July 23, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
361
366
371
376
381
ASIANPAINT
1,371
1,384
1,394
1,407
1,417
AXISBANK
520
527
532
538
543
BAJAJ-AUTO
2,599
2,719
2,937
3,057
3,274
BAJFINANCE
2,393
2,557
2,651
2,815
2,909
BAJAJFINSV
5,967
6,315
6,549
6,897
7,131
BPCL
378
384
389
395
400
BHARTIARTL
337
341
344
349
352
INFRATEL
283
285
286
288
290
CIPLA
591
609
619
636
647
COALINDIA
256
260
262
266
269
DRREDDY
1,995
2,024
2,048
2,077
2,101
EICHERMOT
26,598
26,823
26,986
27,212
27,375
GAIL
355
357
360
363
365
GRASIM
920
930
937
947
954
HCLTECH
971
985
995
1,009
1,019
HDFCBANK
2,156
2,172
2,188
2,204
2,219
HDFC
1,946
1,960
1,971
1,985
1,996
HEROMOTOCO
3,229
3,303
3,396
3,470
3,563
HINDALCO
189
192
197
201
206
HINDPETRO
270
273
277
280
284
HINDUNILVR
1,609
1,633
1,652
1,675
1,695
IBULHSGFIN
1,174
1,185
1,202
1,213
1,230
ICICIBANK
259
263
265
268
271
IOC
158
160
162
163
166
INDUSINDBK
1,862
1,882
1,898
1,919
1,934
INFY
1,300
1,324
1,346
1,370
1,391
ITC
269
272
273
276
277
KOTAKBANK
1,308
1,321
1,344
1,356
1,379
LT
1,238
1,254
1,272
1,288
1,305
LUPIN
789
795
799
805
808
M&M
898
904
910
915
921
MARUTI
9,270
9,335
9,399
9,464
9,528
NTPC
153
154
155
156
157
ONGC
153
156
159
161
164
POWERGRID
172
174
176
178
180
RELIANCE
1,100
1,114
1,126
1,141
1,153
SBIN
257
259
261
263
265
SUNPHARMA
538
549
556
567
574
TCS
1,978
1,987
1,994
2,003
2,010
TATAMOTORS
250
252
253
255
256
TATASTEEL
491
497
501
508
512
TECHM
637
648
655
666
673
TITAN
846
853
865
872
884
ULTRACEMCO
3,807
3,839
3,862
3,894
3,917
UPL
536
543
549
556
562
VEDANTA
197
200
203
206
209
WIPRO
275
279
285
289
295
YESBANK
381
384
388
391
395
ZEEL
504
509
516
521
527
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Technical & Derivatives Report
July 23, 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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