Technical & Derivatives Report
January 24, 2019
Sensex (36108) / Nifty (10831)
Exhibit 1: Nifty Daily Chart
It seems that markets are a bit unsure about their near term
direction. One day we see index trading with immense strength
and then there is no follow up move. Post recent breakout from a
‘Diamond’ pattern, index consolidated for few days. Monday’s
close above 10950 kept the hopes alive. But, yesterday’s sharp
selloff in ‘ITC’ post its quarterly numbers has poured complete
water on it. Within last 45 minutes of trade, we are back to the
previous breakout points of 10830.
Yesterday’s tail end correction certainly does not bode well for the
bulls. As an optimist, one must hope not to have any kind of
follow through selling today. Hence, all eyes would now be on
key support zone of 10800 - 10770. As long as we are
convincingly above it, there is no major reason to worry for. But a
sustainable breach of this support would aggravate the selling
momentum in our market to have an extended correction. On the
flipside, 10864 followed by 10905 would be seen as immediate
hurdles. Going ahead, banking index plays a major role in order
to dictate the near term direction for our market. Yesterday’s
correction was not an encouraging sign and hence, if market has
to remain at elevated levels, few heavyweights like, HDFC bank,
ICICI bank and Axis should step up now.
At present, it would be a prudent ploy to stay light and keep a
close watch on above mentioned scenarios.
Key Levels
Support 1 - 10800
Resistance 1 -
10864
Support 2 - 10770
Resistance 2 -
10905
Nifty Bank Outlook - (27251)
Exhibit 2: Nifty Bank Daily Chart
Yesterday, the Nifty Bank index continued its consolidation phase
for most part of the day. However, a sharp sell-off was seen in the
last hour of the day which dragged the index towards the support
of 27182 which have been mentioning about since last few days.
The index managed to end around 27250, registering a loss of
0.84 percent.
Since last few weeks, the Nifty Bank index has undergone a time-
wise correction and has traded in a narrow range. During this
consolidation phase, the index has registered a support base at
the recent low of 27182. Post the decline in the last hour
yesterday, it would be now crucial to see the follow-up move in
today's session. If the mentioned support is breached, the one can
expect more pain in the near term.
Key Levels
Support 1 - 27182
Resistance 1 -
27380
Support 2 - 26950
Resistance 2 -
27490
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Technical & Derivatives Report
January 24, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.17%.
Bank Nifty futures open interest has decreased by 0.52%
as market closed at 10831.50 levels.
The Nifty January future closed with a premium of 23.40
points against a premium of 13.45 points in last trading
session. The February series closed at a premium of
59.50 points.
The INDIA VIX has increased from 17.98 to 18.05.
At the same time, the PCR-OI of Nifty has increased from
1.53 to 1.54.
Few of the liquid counters where we have seen high cost
of carry are ADANIPOWER, SUZLON, JPASSOCIAT, IFCI
and DISHTV.
Views
OI Gainers
We started-off yesterday’s session slightly higher;
OI
PRICE
SCRIP
OI
PRICE
however, the momentum was missing for the major part
CHG. (%)
CHG. (%)
of the day. Suddenly, in the final hour of trade we
ICICIPRULI
7026000
68.79
305.40
-11.34
witnessed sharp sell-off to bring index near 10800, some
OFSS
144600
25.03
3769.65
2.37
recovery thereafter led closing at 10831.
APOLLOHOSP
929500
14.05
1293.85
0.00
FIIs were net sellers in cash market segment to the tune
ITC
87796800
13.67
277.30
-4.15
of Rs. 776 crores. In index futures segment, they sold of
TVSMOTOR
5398000
13.40
531.55
-4.88
Rs. 315 crores with fall in open interest, indicating long
SYNDIBANK
26580000
9.38
35.75
-3.11
unwinding took place in previous trading session.
INFRATEL
8802000
9.21
277.00
0.00
In F&O space, the overall OI activity in index futures
AMARAJABAT
1253000
8.48
782.45
0.12
segment was subdued. Meanwhile, some build-up was
seen in
10900-11100 call options. Looking at
yesterday’s fall, put writers of
10400-11000 strikes
OI Losers
covering their positions. At present, 11000 call and
OI
PRICE
SCRIP
OI
PRICE
10500 put options are attracting trader’s attention.
CHG. (%)
CHG. (%)
TORNTPOWER
2145000
-17.44
262.75
1.78
Since past couple of days the benchmark index has been
MINDTREE
3211800
-11.45
906.55
-0.94
trading in the range of 10750-10800 on the lower side
REPCOHOME
861300
-9.06
409.10
-5.08
and 10900-10950 on the upper side. The OI activity in
ASIANPAINT
7717200
-7.03
1396.55
-0.73
index futures has also been muted. Despite, yesterday’s
sharp fall the Nifty futures premiums surged 13 to 23,
RELCAPITAL
14176500
-6.25
208.90
1.30
this is a sign of some buying at lower levels. Taking into
AJANTPHARM
606500
-5.82
1165.40
0.18
consideration the above data points, it’s advisable to stay
SRF
774000
-5.61
2059.55
-0.74
light in index unless we don’t see index surpassing the
HEXAWARE
2926500
-5.11
333.10
0.45
above mentioned range and instead prefer trading in
individual counters.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ICICIPRULI
65.94
NIFTY
1.43
1.01
ITC
27.72
BANKNIFTY
0.86
0.89
TVSMOTOR
41.43
RELIANCE
1.05
0.68
MCDOWELL-N
33.87
ICICIBANK
0.69
0.55
REPCOHOME
54.47
INFY
1.07
0.63
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Technical & Derivatives Report
January 24, 2019
FII Statistics for January 23, 2019
Turnover on January 23, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2080.83
2395.48
(314.64)
476332
37495.08
(1.62)
237851
16246.94
17.12
FUTURES
FUTURES
INDEX
INDEX
104315.68
105111.97
(796.29)
962737
71687.34
6.56
11939918
705327.81
68.03
OPTIONS
OPTIONS
STOCK
11775.19
11942.14
(166.95)
1414763
85633.91
(0.49)
STOCK
FUTURES
750292
45426.59
-15.21
FUTURES
STOCK
STOCK
8639.47
8902.94
(263.47)
195073
11368.88
2.12
885439
55816.10
-18.12
OPTIONS
OPTIONS
Total
126811.19
128352.54
(1541.35)
3048905
206185.21
1.62
TOTAL
74455
700968
48.15
Nifty Spot = 10831.50
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10800
134.75
Buy
10800
81.85
53.60
46.40
10853.60
30.45
69.55
10769.55
Sell
10900
81.15
Sell
10700
51.40
Buy
10800
134.75
Buy
10800
81.85
90.25
109.75
10890.25
51.10
148.90
10748.90
Sell
11000
44.50
Sell
10600
30.75
Buy
10900
81.15
Buy
10700
51.40
36.65
63.35
10936.65
20.65
79.35
10679.35
Sell
11000
44.50
Sell
10600
30.75
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 24, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
379
382
387
390
395
ASIANPAINT
1,366
1,381
1,405
1,421
1,445
AXISBANK
654
658
662
666
671
BAJAJ-AUTO
2,646
2,660
2,679
2,694
2,713
BAJFINANCE
2,591
2,613
2,633
2,655
2,675
BAJAJFINSV
6,352
6,423
6,475
6,546
6,598
BPCL
352
355
357
359
361
BHARTIARTL
299
302
304
307
310
INFRATEL
271
274
278
281
284
CIPLA
505
507
509
512
514
COALINDIA
224
225
226
227
229
DRREDDY
2,616
2,631
2,646
2,661
2,676
EICHERMOT
19,869
19,979
20,101
20,211
20,333
GAIL
328
331
334
337
340
GRASIM
759
771
789
800
818
HCLTECH
933
939
944
950
956
HDFCBANK
2,080
2,093
2,114
2,127
2,149
HDFC
1,931
1,945
1,965
1,978
1,998
HEROMOTOCO
2,744
2,770
2,811
2,837
2,877
HINDALCO
202
204
205
207
209
HINDPETRO
237
239
242
244
247
HINDUNILVR
1,732
1,750
1,767
1,784
1,802
IBULHSGFIN
754
767
786
799
818
ICICIBANK
362
365
369
372
376
IOC
134
135
136
137
138
INDUSINDBK
1,474
1,484
1,497
1,507
1,520
INFY
721
726
734
740
748
ITC
263
270
282
289
302
JSW STEEL
273
277
281
285
289
KOTAKBANK
1,254
1,265
1,282
1,293
1,310
LT
1,287
1,294
1,301
1,308
1,314
M&M
684
690
700
706
716
MARUTI
6,960
7,003
7,068
7,110
7,175
NTPC
138
140
142
143
145
ONGC
141
142
144
145
147
POWERGRID
182
184
188
190
194
RELIANCE
1,209
1,217
1,231
1,240
1,253
SBIN
281
284
288
291
296
SUNPHARMA
403
417
426
440
448
TCS
1,848
1,862
1,884
1,898
1,920
TATAMOTORS
176
178
181
182
185
TATASTEEL
452
458
463
469
474
TECHM
704
713
719
727
734
TITAN
939
951
969
981
999
ULTRACEMCO
3,814
3,832
3,859
3,878
3,904
UPL
746
754
768
777
791
VEDANTA
188
191
193
195
197
WIPRO
344
348
352
356
360
YESBANK
191
194
197
200
203
ZEEL
416
425
432
441
448
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Technical & Derivatives Report
January 24, 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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