Technical & Derivatives Report
May 24, 2018
Sensex (34345) / Nifty (10430)
Exhibit 1: Nifty Daily Chart
Despite some nervousness in the global markets, our markets
opened on a flat note; but it just became a formality as we
witnessed an immediate slide below the 10500 mark. Index then
consolidated for a while and prepared itself for a final assault.
Last couple of hours was quite brutal for the market as there was
only one clear direction in the market i.e. southward. Eventually,
index slipped well below the 10500 mark to conclude the session
with marginally over a percent cut.
Since last couple of days, 10500 has been acting as a sheet
anchor. There was no brainer; a slide below this was clearly on
cards, but probably it has happen sooner than we had
anticipated for. Directionally, there was no ambiguity in our mind,
as we have been mentioning a possibility of extending this
correction towards 10400 -
10350 levels. For the coming
session, 10480 - 10530 would now be seen as strong hurdles.
Traders are advised to remain light and should avoid creating
aggressive bets in high beta names.
During the day, there were many casualties seen in the market;
but, there was one specific sector that took it quite severely on the
chin i.e. the Metal space. Vedanta and Tata steel were the
notable losers and looking at the overall structure, the sector
seemed to have lost its recent sheen. Hence, traders should avoid
any kind of bottom fishing in these names.
Key Levels
Support 1 - 10400
Resistance 1 - 10480
Support 2 - 10350
Resistance 2 - 10530
Nifty Bank Outlook - (25685)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened marginally negative yesterday and
showed signs of recovery till noon. However, the index corrected
during the last hour of the day along with the broader market and
ended the session with a loss of 0.36 percent.
Yesterday, the PSU Banking space continued the outperformance
let by the heavyweight SBI, which rallied higher post the quarterly
results declared on Tuesday. The positive momentum led the Nifty
PSU Bank index post gains of 2.84 percent, outperforming all
other sectoral indices. The pullback move in the PSU Banking
space was much on expected lines owing to the positive
divergence seen with the RSI. The Nifty Bank index has closed
yesterday's session at the hourly '200 SMA' support. Hence,
today's first half hour would be crucial as if the index continues
with the negative momentum, then it could correct further upto
25350-25400. On the flipside, the resistance is now seen in the
range of 25900-25950.
Key Levels
Support 1 - 25400
Resistance 1 - 25900
Support 2 - 25350
Resistance 2 - 25950
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Technical & Derivatives Report
May 24, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.68%
BankNifty futures open interest has increased by 8.04%
as market closed at 10430.35 levels.
The Nifty May future closed with a discount of 3.75
points against a premium of 16.15 points in last trading
session. The June series closed at a premium of 12.50
points.
The INDIA VIX has increased from 13.60 to 14.15. At the
same time, the PCR-OI of Nifty has decreased from 1.23
to 1.18 level.
Few of the liquid counters where we have seen high cost
of carry are RCOM, SUZLON, IGL, IDBI and MFSL.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 311 crores. At the same time, they sold worth
CHG. (%)
CHG. (%)
IGL
11099000
19.02
262.70
1.34
Rs. 1740 crores in index futures with rise in open interest,
TATASTEEL
26824202
14.50
540.05
-6.53
indicating addition of fresh short positions in yesterday’s
trading session.
BPCL
12646800
11.26
373.95
-6.00
In index options front, they sold of Rs. 161 crores with
CENTURYTEX
6649500
9.35
936.35
-6.35
decent rise in open interest. In call options,
BALKRISIND
1109600
9.04
1104.45
-2.15
10400- 10500 strikes were active and they also added
RAMCOCEM
1348000
7.53
798.30
0.55
huge positions along with unwinding in 10800-11200
CONCOR
1899375
6.67
1387.25
0.29
call options. On the flip side, fresh build-up was seen in
AMARAJABAT
1840300
6.01
782.35
-2.47
10200-10400 put options. Maximum OI concentration
now stood at 10800 call and 10500 put options.
OI Losers
The benchmark Nifty started off last session slightly lower
and remained range-bound for the first half. However,
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
strong selling pressure in the latter half dragged Nifty
GLENMARK
5758600
-25.79
517.90
0.70
below 10450 mark. We saw fresh shorts; especially in
ORIENTBANK
17610000
-22.73
77.20
-0.52
BankNifty index. Meanwhile, Nifty futures were trading in
CIPLA
12849000
-15.35
532.40
1.66
discount due to massive sell-off. FIIs continued their
JUSTDIAL
3287200
-12.78
438.15
-2.80
selling streak in equities and futures segment. Hence,
ASHOKLEY
71227000
-10.04
145.35
2.68
considering yesterday data, we expect further pain going
BATAINDIA
2679600
-9.24
759.60
1.15
ahead.
BEML
2175700
-8.25
931.75
-1.83
HAVELLS
5002000
-8.10
543.75
-0.95
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ONGC
33.10
NIFTY
1.18
0.77
HINDPETRO
53.98
BANKNIFTY
0.70
0.89
NIFTYCPSE
19.35
TATAMOTORS
0.47
0.48
TATASTEEL
47.83
RELIANCE
0.32
0.52
NIFTYPSE
16.83
ICICIBANK
0.94
0.70
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Technical & Derivatives Report
May 24, 2018
FII Statistics for May 23, 2018
Turnover on May 23, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2181.34
3921.34
(1740.00)
273441
22383.16
3.90
231741
20204.41
23.93
FUTURES
FUTURES
INDEX
INDEX
97626.28
97787.23
(160.95)
913055
73702.70
1.98
7904135
746713.68
31.74
OPTIONS
OPTIONS
STOCK
11379.95
11220.98
158.96
1267053
84191.18
0.93
STOCK
FUTURES
916279
58361.12
-1.42
FUTURES
STOCK
STOCK
10004.41
10006.21
(1.80)
151999
10357.74
1.22
860093
58552.68
-3.30
OPTIONS
OPTIONS
Total
121191.98
122935.75
(1743.78)
2605548
190634.78
1.62
TOTAL
9912248
883831.89
25.75
Nifty Spot = 10430.35
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
81.45
Buy
10400
58.25
44.35
55.65
10444.35
28.45
71.55
10371.55
Sell
10500
37.10
Sell
10300
29.80
Buy
10400
81.45
Buy
10400
58.25
67.10
132.90
10467.10
42.40
157.60
10357.60
Sell
10600
14.35
Sell
10200
15.85
Buy
10500
37.10
Buy
10300
29.80
22.75
77.25
10522.75
13.95
86.05
10286.05
Sell
10600
14.35
Sell
10200
15.85
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 24, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
367
371
377
380
387
ASIANPAINT
1,258
1,268
1,280
1,291
1,303
AXISBANK
514
517
523
526
531
BAJAJ-AUTO
2,725
2,750
2,791
2,816
2,857
BAJFINANCE
2,016
2,047
2,098
2,129
2,179
BAJAJFINSV
5,650
5,720
5,840
5,910
6,030
BPCL
355
365
380
389
404
BHARTIARTL
347
352
359
364
371
INFRATEL
311
314
317
320
323
CIPLA
488
510
537
560
587
COALINDIA
272
274
277
279
282
DRREDDY
1,902
1,928
1,961
1,987
2,020
EICHERMOT
28,962
29,177
29,515
29,730
30,068
GAIL
314
318
324
328
334
GRASIM
1,013
1,030
1,044
1,062
1,076
HCLTECH
875
885
902
911
928
HDFCBANK
1,944
1,956
1,975
1,987
2,006
HDFC
1,763
1,773
1,790
1,801
1,818
HEROMOTOCO
3,434
3,458
3,477
3,501
3,519
HINDALCO
225
228
231
234
237
HINDPETRO
267
277
294
304
321
HINDUNILVR
1,547
1,557
1,572
1,583
1,597
IBULHSGFIN
1,088
1,105
1,120
1,136
1,151
ICICIBANK
283
288
293
297
303
IOC
148
151
155
158
163
INDUSINDBK
1,817
1,835
1,867
1,885
1,917
INFY
1,165
1,175
1,191
1,201
1,218
ITC
269
271
275
278
282
KOTAKBANK
1,231
1,243
1,254
1,266
1,277
LT
1,296
1,311
1,331
1,346
1,366
LUPIN
723
729
739
746
756
M&M
814
823
829
838
844
MARUTI
8,400
8,449
8,507
8,555
8,613
NTPC
163
165
166
168
170
ONGC
167
171
178
182
189
POWERGRID
208
210
211
213
214
RELIANCE
899
906
916
922
933
SBIN
247
255
262
271
278
SUNPHARMA
442
447
454
459
466
TCS
3,443
3,469
3,507
3,533
3,571
TATAMOTORS
299
304
311
316
323
TATASTEEL
513
526
551
565
590
TECHM
672
685
696
709
720
TITAN
902
911
917
926
932
ULTRACEMCO
3,654
3,677
3,714
3,737
3,774
UPL
671
678
687
695
704
VEDANTA
242
247
255
261
269
WIPRO
261
262
264
265
267
YESBANK
327
331
335
338
342
ZEEL
544
549
558
563
572
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Technical & Derivatives Report
May 24, 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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