Technical & Derivatives Report
July 23, 2019
Sensex (38031) / Nifty (11346)
Exhibit 1: Nifty Daily Chart
Last week’s mayhem continued as we saw a gap down opening
followed by a sustained selling throughout the first half. This sell
off was disheartening because the stable propositions like HDFC
Twins and Kotak Bank also finally succumbed to the broader
market destruction. These marquee names have been reluctant to
correct since many months and in fact, have propelled index to
the record highs. But yesterday, they looked completely dejected
and hence, this correction reinforced to test the 11300 mark.
Fortunately, the selling got arrested in the latter half and we had
a small bounce back to eventually close around 11350.
Our benchmark has fallen quite a bit in last three days and in this
course of action, within no time, we are off record highs by more
than 5% now. Looking at the daily chart, we can see index
At present, traders are advised not to trade aggressively and
reaching its major support zone of 11300, which coincides with
should refrain from catching falling knives from high beta
the ‘Multi-month’ trend line (drawn by connecting October 2018
universe. However, we still believe that, traders’/ investors’ with
and February 2019 lows) as well as the 78.6% retracement of the
a slightly broader perspective, should accumulate quality
entire rally from
11108.30 to
12103.05. Considering this
propositions in staggered manner in this on-going decline. Few
important junction, a possibility of some relief in next couple of
positive take away from yesterday’s session are the strong
days cannot be ruled out. In this scenario, 11400 - 11450 may
upsurge in Reliance Industries in last hour and the recovery in
be retested. However having said that, the overall chart structure
the ‘Midcap’ index from its crucial support. These observations
has been distorted and till the time we are below 11650 -
certainly bode well and hence, traders should capitalise on
11700, intermediate rebounds should only be treated as short
extension of these moves.
term relief. On the flipside, a sustainable breach of 11300 would
extend this correction towards 11200 - 11108 levels.
Key Levels
Support 1 - 11300
Resistance 1 -
11400
Support 2 - 11200
Resistance 2 -
11450
Nifty Bank Outlook - (29285)
Exhibit 2: Nifty Bank Daily Chart
Continuing with previous day’s momentum, the Nifty Bank index
started the week with a gap down opening and corrected by
another 500 points in yesterday's session to end below 29300.
In yesterday's session, the recent heavyweight outperformer HDFC
Bank witnessed sharp correction of more than
3% post
announcement of its quarterly results over the weekend. Stocks
such as Kotak Bank, SBI and some other midcap banks too were
under pressure which had a negative impact on the index. The
short term trend for the index is still negative, however, the
momentum readings on the lower time frame charts are in
oversold zone and hence a pullback move or a consolidation
could be seen in near term. The immediate supports for the index
are placed around 29200 and 28900 whereas resistance is seen
in the range of 29650-29780.
Key Levels
Support 1 - 29200
Resistance 1 -
29650
Support 2 - 28900
Resistance 2 -
29780
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Technical & Derivatives Report
July 23, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 3.63%
Bank Nifty futures open interest has decreased by 6.74%
as market closed at 11346.20 levels.
The Nifty July future closed with a premium of 14.05
points against a premium of 2.60 points in last trading
session. The August series closed at a premium of 57.75
points.
The INDIA VIX has increased from 12.51 to 13.01.
At the same time, the PCR-OI of Nifty has decreased
from 1.05 to 1.01.
Few of the liquid counters where we have seen high cost
of carry are TATAGLOBAL, IDEA. IDBI, YESBANK and
BATAINDIA.
Views
OI Gainers
We started-off the week with a downside gap and
OI
PRICE
SCRIP
OI
PRICE
remained under pressure towards 11300 mark. The
CHG. (%)
CHG. (%)
major culprit of yesterday’s fall was HDFC twines which
TORNTPOWER
5181000
19.68
308.75
1.01
plunged sharply after their quarterly results. In the latter
DISHTV
128534000
19.06
33.75
6.62
half, some respite was seen to conclude the session
ADANIPOWER
149140000
16.59
62.95
3.29
below 11350.
VOLTAS
4546000
16.33
582.45
0.94
BERGEPAINT
2417800
13.53
308.05
0.34
FIIs were net sellers in cash market segment to the tune
MANAPPURAM
15180000
13.05
121.05
-1.74
of Rs. 1917 cr. In index futures segment, they sold of
RBLBANK
12903600
12.19
478.00
-4.36
worth Rs. 1086 cr with fall in OI, indicating long
BATAINDIA
2802800
11.68
1280.00
-0.69
unwinding took place in yesterday’s session.
Recently, 11700 acted as a very strong hurdle and sine
last couple of sessions we are witnessing follow-up
OI Losers
selling to drag index towards 11300. In F&O space, we
OI
PRICE
SCRIP
OI
PRICE
hardly saw any meaningful build-up in both the
CHG. (%)
CHG. (%)
YESBANK
132105600
-10.93
91.15
9.84
indices; the overall OI activity remained mixed.
BSOFT
2789700
-8.83
76.35
3.59
Yesterday’s correction was also due to long unwinding.
DHFL
18168000
-8.67
52.50
0.00
At present, 11250-11300 is a support zone; whereas,
KOTAKBANK
9621600
-8.17
1454.30
-2.52
11500 may act as a strong resistance. Considering
recent sell-off, traders are advised to say light in index
UNIONBANK
31857000
-7.22
74.65
1.36
and prefer stock specific approach for this week.
STAR
3394800
-7.00
350.15
0.89
HEXAWARE
1924500
-6.62
357.70
1.53
ACC
2730000
-6.51
1581.30
2.19
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.01
0.76
HDFC
33.36
BANKNIFTY
0.62
0.85
HDFCBANK
23.74
RELIANCE
0.57
0.71
JUSTDIAL
61.26
ICICIBANK
0.51
0.64
KOTAKBANK
28.83
INFY
1.58
0.95
ASIANPAINT
24.35
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Technical & Derivatives Report
July 23, 2019
FII Statistics for July 22, 2019
Turnover on July 22, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
8247.78
9333.90
(1086.12)
235736
18708.60
(7.85)
388440
28508.45
4.99
FUTURES
FUTURES
INDEX
INDEX
193669.93
193110.82
559.11
603818
47519.97
3.71
12577850
872551.68
-8.66
OPTIONS
OPTIONS
STOCK
27816.82
27098.90
717.92
1463976
90532.65
1.88
STOCK
FUTURES
1505149
89472.54
28.34
FUTURES
STOCK
STOCK
7664.37
7669.52
(5.14)
72806
4370.63
(3.84)
1200498
73448.78
-0.37
OPTIONS
OPTIONS
Total
237398.90
237213.13
185.76
2376336
161131.84
1.09
TOTAL
15671937
1063981.45
-5.50
Nifty Spot = 11346.20
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11400
35.35
Buy
11300
33.50
24.15
75.85
11424.15
20.25
79.75
11279.75
Sell
11500
11.20
Sell
11200
13.25
Buy
11400
35.35
Buy
11300
33.50
31.35
168.65
11431.35
27.45
172.55
11272.55
Sell
11600
4.00
Sell
11100
6.05
Buy
11500
11.20
Buy
11200
13.25
7.20
92.80
11507.20
7.20
92.80
11192.80
Sell
11600
4.00
Sell
11100
6.05
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, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
391
399
404
412
417
ASIANPAINT
1,340
1,372
1,391
1,423
1,442
AXISBANK
710
719
729
737
747
BAJAJ-AUTO
2,467
2,515
2,562
2,610
2,658
BAJFINANCE
3,091
3,169
3,242
3,320
3,394
BAJAJFINSV
6,799
6,981
7,262
7,444
7,726
BPCL
335
344
350
359
364
BHARTIARTL
333
338
341
346
348
INFRATEL
254
259
264
269
273
BRITANNIA
2,687
2,711
2,742
2,766
2,797
CIPLA
519
525
532
539
546
COALINDIA
214
217
220
224
227
DRREDDY
2,583
2,608
2,625
2,650
2,667
EICHERMOT
16,461
16,767
17,280
17,586
18,100
GAIL
133
136
137
140
141
GRASIM
851
872
883
904
916
HCLTECH
992
1,006
1,016
1,030
1,040
HDFCBANK
2,241
2,269
2,309
2,338
2,378
HDFC
2,104
2,145
2,222
2,263
2,340
HEROMOTOCO
2,313
2,358
2,406
2,452
2,499
HINDALCO
190
196
201
207
212
HINDUNILVR
1,623
1,652
1,688
1,717
1,754
IBULHSGFIN
603
630
645
672
687
ICICIBANK
401
406
410
415
418
IOC
142
145
148
151
154
INDUSINDBK
1,363
1,391
1,410
1,437
1,457
INFY
776
780
786
790
796
ITC
261
263
266
267
270
JSW STEEL
253
259
262
268
271
KOTAKBANK
1,410
1,432
1,464
1,487
1,519
LT
1,381
1,392
1,406
1,417
1,431
M&M
550
558
567
574
584
MARUTI
5,671
5,792
5,866
5,987
6,061
NTPC
125
128
130
133
135
ONGC
138
142
145
149
152
POWERGRID
200
202
205
207
209
RELIANCE
1,207
1,244
1,264
1,301
1,321
SBIN
342
347
353
357
364
SUNPHARMA
407
418
431
443
455
TCS
2,050
2,080
2,099
2,129
2,147
TATAMOTORS
153
155
157
159
161
TATASTEEL
445
455
461
472
477
TECHM
665
668
674
677
683
TITAN
1,050
1,068
1,080
1,098
1,110
ULTRACEMCO
4,394
4,489
4,545
4,640
4,696
UPL
628
633
640
646
653
VEDANTA
158
163
166
170
173
WIPRO
261
263
265
267
268
YESBANK
78
84
88
95
99
ZEEL
341
352
360
371
379
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Technical & Derivatives Report
July 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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