Technical & Derivatives Report
April 24, 2019
Sensex (38565) / Nifty (11576)
Exhibit 1: Nifty Daily Chart
We had a flat to positive opening yesterday as indicated by the
SGX Nifty early in the morning. This was followed by a gradual
up move with lack of momentum for the major part of the day.
However, during the penultimate hour, all of a sudden, bundle of
heavyweight constituents started facing severe selling pressure
and as a result, the Nifty dropped inside the negative territory
within no time. Eventually, we ended the session well below
11600 by losing nearly two tenths of a percent.
There was couple of weak attempts made during the session to
hop into a safe territory. But Monday’s sell off weighted down
heavily and these attempts eventually got sold into. The banking
space once again became the major culprit in this decline. With
this, the banking index has slipped below its recent swing low; but
our benchmark Nifty till now, has somehow managed to defend
its key support of 11549. It would be very crucial for the banking
universe to come back strongly and help the benchmark
defending its key support.
Let see how things pan out and since we are heading towards the
April series expiry, we may see some volatile moves in couple of
days. At this juncture, traders are advised to see how index
behaves around 11549 and a violation of the same on a
sustainable basis could trigger further correction towards 11475
- 11400 or may even get worsen. On the flipside, 11653
followed by 11705 remain to be immediate hurdles.
Key Levels
Support 1 - 11549
Resistance 1 -
11653
Support 2 - 11475
Resistance 2 -
11705
Nifty Bank Outlook - (29480)
Exhibit 2: Nifty Bank Daily Chart
In yesterday's session, the Nifty Bank index traded in a narrow
range around the swing low support of 29640 for the most part
of the day. However, in the last hour of trade, the index breached
the mentioned support which led to a sharp sell-off resulting in
the index closing below the 29500 mark.
The Bank Nifty had already applied brakes to the uptrend in the
first trading session of the week. Now, the swing low too has been
broken which violates the recent 'Higher top Higher Bottom'
structure. As we indicated yesterday, the index could witness some
highly volatile moves in the near term and hence, traders are
advised to stay light on positions. The near term supports for the
index are now placed around 29375 and 29170 whereas
immediate resistance is seen in the range of 29750-29850.
Key Levels
Support 1 - 29375
Resistance 1 -
29750
Support 2 - 29170
Resistance 2 -
29850
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Technical & Derivatives Report
April 24, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 4.76%.
Bank Nifty futures open interest has increased by 5.19%
as market closed at 11575.95 levels.
The Nifty April future closed with a premium of 10.45
points against a premium of 24.45 points in last trading
session. The May series closed at a premium of 90.90
points.
The INDIA VIX has increased from 24.05 to 24.64.
At the same time, the PCR-OI of Nifty has decreased
from 1.35 to 1.30.
Few of the liquid counters where we have seen high cost
of carry are GODREJIND, MARICO, RELCAPITAL,
EICHERMOT and IGL.
Views
Post last two session of fall, we began yesterday’s session
on a positive note. As the day progressed, index
OI Gainers
recovered but 11650 acted as a strong resistance. We
OI
PRICE
SCRIP
OI
PRICE
witnessed a sharp sell-off in the final hour of trade to
CHG. (%)
CHG. (%)
ONGC
68298750
26.98
163.75
3.76
eventually conclude the session below Monday’s close.
BPCL
12484800
14.78
336.35
-0.98
FII’s were net sellers in the equity segment to the tune of
BHARTIARTL
40903398
14.70
316.50
-1.29
Rs. 237 crores. In index futures front, they were buyers of
RPOWER
112432000
14.67
7.65
-3.77
Rs. 1794 crores with decent amount of rise in open
interest, indicating addition of fresh long positions.
ICICIBANK
109078750
14.55
396.50
0.22
In index options front, they were buyers of Rs. 284 crores
BAJAJ-AUTO
4323500
14.04
3039.15
-0.52
with rise in OI. In call options, massive writing was seen
ITC
74013600
13.78
303.40
0.43
in 11600 and 11700 call options. On the flip side,
YESBANK
157354750
13.64
232.70
-2.54
11500 and 11600 puts added some fresh positions
along with unwinding in 11550, 11700 and 11800
OI Losers
strikes. Now, the maximum OI concentration is 11700
OI
PRICE
call and 11500 put options.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
We witnessed addition of some fresh shorts in Nifty as
RELCAPITAL
10689000
-23.38
143.95
8.04
well as BankNifty yesterday. In the week gone by, we saw
JETAIRWAYS
5819000
-19.80
169.75
8.64
decent long formation in both the index and these
INFIBEAM
13344000
-13.51
43.60
-8.39
positions are still intact. Despite, yesterday’s selling we
INDIACEM
18414000
-12.92
101.75
-2.21
hardly saw any unwinding in 11500 put option. In
PCJEWELLER
8645000
-11.69
126.90
-2.35
addition, FIIs were buyers in index futures. At present,
CEATLTD
1304000
-10.83
1089.00
1.18
11500-11550 is an immediate support zone and until
VOLTAS
4512000
-8.96
622.25
1.72
we sustain above these levels one should avoid any
CUMMINSIND
1729000
-8.96
741.60
2.65
bearish bets.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
MARUTI
31.33
NIFTY
1.30
0.98
LUPIN
35.56
BANKNIFTY
0.63
0.90
ONGC
35.81
RELIANCE
0.44
0.50
SUNPHARMA
30.00
ICICIBANK
0.58
0.53
INFIBEAM
87.34
INFY
0.60
0.44
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Technical & Derivatives Report
April 24, 2019
FII Statistics for April 23, 2019
Turnover on April 23, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
9064.72
7270.81
1793.91
271291
21758.46
3.10
396630
29172.35
14.71
FUTURES
FUTURES
INDEX
INDEX
231934.87
231650.80
284.06
979050
76358.48
6.70
14580651
990185.09
45.95
OPTIONS
OPTIONS
STOCK
35877.45
35684.25
193.20
1509575
95497.74
4.26
STOCK
FUTURES
1729564
105547.81
32.79
FUTURES
STOCK
STOCK
6639.55
6485.80
153.75
130017
8157.43
(3.21)
1011719
64114.08
0.26
OPTIONS
OPTIONS
Total
283516.59
281091.66
2424.93
2889933
201772.11
4.59
TOTAL
623820
2238702
40.33
Nifty Spot = 11575.95
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11600
38.05
Buy
11600
52.65
25.95
74.05
11625.95
34.50
65.50
11565.50
Sell
11700
12.10
Sell
11500
18.15
Buy
11600
38.05
Buy
11600
52.65
34.50
165.50
11634.50
47.00
153.00
11553.00
Sell
11800
3.55
Sell
11400
5.65
Buy
11700
12.10
Buy
11500
18.15
8.55
91.45
11708.55
12.50
87.50
11487.50
Sell
11800
3.55
Sell
11400
5.65
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 24, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
383
387
389
393
396
ASIANPAINT
1,408
1,420
1,437
1,449
1,466
AXISBANK
744
748
754
759
764
BAJAJ-AUTO
2,981
3,010
3,040
3,069
3,099
BAJFINANCE
2,955
2,995
3,027
3,067
3,098
BAJAJFINSV
7,456
7,476
7,504
7,524
7,552
BPCL
328
332
337
341
346
BHARTIARTL
308
312
319
323
330
INFRATEL
286
290
297
301
308
BRITANNIA
2,970
2,980
2,997
3,008
3,025
CIPLA
550
556
566
572
582
COALINDIA
249
252
254
257
259
DRREDDY
2,786
2,804
2,818
2,836
2,851
EICHERMOT
20,012
20,163
20,356
20,508
20,701
GAIL
328
334
337
343
347
GRASIM
849
859
867
877
884
HCLTECH
1,088
1,095
1,104
1,110
1,119
HDFCBANK
2,211
2,228
2,259
2,276
2,307
HDFC
1,907
1,921
1,944
1,957
1,980
HEROMOTOCO
2,548
2,593
2,660
2,705
2,772
HINDALCO
197
198
201
203
205
HINDUNILVR
1,727
1,736
1,742
1,750
1,757
IBULHSGFIN
700
722
745
768
791
ICICIBANK
390
393
397
400
403
IOC
145
147
149
151
153
INDUSINDBK
1,600
1,626
1,671
1,697
1,742
INFY
714
721
726
733
737
ITC
300
302
303
305
307
JSW STEEL
283
286
290
293
297
KOTAKBANK
1,341
1,348
1,358
1,366
1,376
LT
1,322
1,335
1,350
1,363
1,378
M&M
656
661
668
673
681
MARUTI
6,765
6,907
7,148
7,290
7,531
NTPC
131
133
134
135
137
ONGC
155
159
162
167
170
POWERGRID
191
192
193
194
196
RELIANCE
1,334
1,349
1,361
1,376
1,388
SBIN
299
302
308
311
317
SUNPHARMA
445
457
465
476
484
TCS
2,120
2,138
2,152
2,169
2,183
TATAMOTORS
227
229
233
235
238
TATASTEEL
511
517
528
534
545
TECHM
796
801
804
809
812
TITAN
1,112
1,121
1,129
1,137
1,145
ULTRACEMCO
4,154
4,176
4,204
4,227
4,255
UPL
924
933
939
949
954
VEDANTA
173
174
175
176
177
WIPRO
285
288
290
293
295
YESBANK
222
227
236
241
250
ZEEL
388
399
410
421
432
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Technical & Derivatives Report
April 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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