Technical & Derivatives Report
July 24, 2018
Sensex (36719) / Nifty (11085)
Exhibit 1: Nifty Daily Chart
Trading for the week kick started with a flat opening amidst
mixed cues from the Asian bourses. Subsequently index
consolidated in a slender range throughout the first half.
However, the latter half had lot to offer for. We did see a steady
buying in index to hit six-month highs. In fact, the kind of velocity
at which bundle of stocks soared was quite mesmerizing.
Although, it appears to be only seven tenths of a percent addition
(in Nifty) to Friday’s close; the important development was, the
level at which it closed yesterday.
With yesterday’s move, the daily chart now exhibits a breakout
from the ‘bullish Flag’ pattern. And now, our recent anticipation
of hitting new highs soon is very much in sight. We had suggested
1 - 2 weeks for this to pan out; but, looking at yesterday’s close,
we will not be surprised to happen it in next couple of days. For
the coming session, the bias remains positive and we would
probably be attempting to test 11117 first and then the all time
high of 11171.55. Any decline therefore should be used as a
buying opportunity. The immediate support can now be seen at
11060 - 11023.
Yesterday, stocks from the midcap universe were on a roll and
this is what had opined in our last week’s articles. Traders are
advised to keep looking for such potential candidates who are
poised for a decent relief rally or those who are making fresh
highs along with attractive structure.
Key Levels
Support 1 - 11060
Resistance 1 - 11117
Support 2 - 11023
Resistance 2 - 11171
Nifty Bank Outlook - (27008)
Exhibit 2: Nifty Bank Daily Chart
Although the Nifty Bank index opened marginally negative
yesterday, the lower end of last week's consolidation phase acted
as support and the index resumed its positive momentum to end
the day with gains of half a percent. The lower end of the recent
consolidation range of 26640-27190 again acted as a good
support for the index and the stocks from the banking space
showed positive momentum throughout the session. This adds
further to our conviction of the uptrend in the index which we
have been mentioning about in our past reports. Hence, we
continue with our optimistic view on the index and advise traders
to trade with a positive bias. The midcap and the PSU Banking
names too showed signs of a pullback move and thus, next leg of
up move could be lead by participation from many of the sectoral
constituents. 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 - 26860
Resistance 1 - 27150
Support 2 - 26640
Resistance 2 - 27190
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Technical & Derivatives Report
July 24, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.13%
Bank Nifty futures open interest has decreased by 5.91%
as market closed at 11084.75 levels.
The Nifty July future closed with a premium of 14.65
points in last trading session. The August series closed at
a premium of 34.70 points.
The INDIA VIX has decreased from 13.54 to 13.00. At
the same time, the PCR-OI of Nifty has increased from
1.71 to 1.80.
Few of the liquid counters where we have seen high cost
of carry are SOUTHBANK, PTC, CHOLAFIN,
DALMIABHA and IDBI.
Views
OI Gainers
FIIs were buyers in cash market segment to the tune of
OI
PRICE
SCRIP
OI
PRICE
Rs. 259 crores. At the same time, they sold worth
CHG. (%)
CHG. (%)
Rs. 604 crores in index futures with rise in open interest,
HAVELLS
5540000
24.97
610.05
8.69
indicating short formation on yesterday’s session.
TVSMOTOR
8411000
22.38
542.05
-4.11
In index options front, their overall activity remained
BERGEPAINT
1870000
21.26
314.70
1.84
subdued. In call option, we could hardly see any
VGUARD
2829000
17.14
203.70
5.48
relevant open interest addition; however, decent
M&MFIN
10903750
16.62
466.70
-0.36
unwinding was seen in 10800-11200 strikes. On the flip
HEROMOTOCO
1947000
12.19
3165.45
-6.08
side, we witnessed massive build-up in 11000 and
OIL
3613137
10.96
205.50
-0.60
11100 put options. For July series, the maximum open
KAJARIACER
2200000
9.45
421.00
0.42
interest concentration in put options has shifted higher to
11000 from 10800 strike; whereas, for calls remains
intact at 11100.
OI Losers
We started off yesterday’s session on a flat note and
OI
PRICE
SCRIP
OI
PRICE
soon we saw fresh buying emerged to surpass the hurdle
CHG. (%)
CHG. (%)
AJANTPHARM
787000
-18.49
1043.25
2.56
of 11070 on a closing basis. In F&O segment, we saw
JUSTDIAL
3813600
-17.30
556.65
-4.13
fresh long formation in Nifty; whereas, short covering
took place in banking index. Meanwhile, massive writing
BATAINDIA
3890700
-12.99
904.00
6.82
was also observed in 11000 and 11100 put options,
ADANIPOWER
131900000
-12.09
24.95
1.01
which is again a sign of further strength. Considering the
KSCL
1522500
-12.05
604.50
4.47
above data point, we would advise traders to hold on to
PCJEWELLER
9691500
-10.45
93.70
14.24
their longs as we may soon see the benchmark hitting
REPCOHOME
424800
-9.58
599.65
4.39
new highs.
KTKBANK
17460000
-9.45
110.50
1.79
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
UPL
75.92
NIFTY
1.80
1.07
SOUTHBANK
105.55
BANKNIFTY
1.15
0.89
HAVELLS
48.79
TATAMOTORS
0.34
0.40
HEROMOTOCO
38.79
RELIANCE
1.08
0.62
BATAINDIA
43.91
ICICIBANK
0.51
0.41
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Technical & Derivatives Report
July 24, 2018
FII Statistics for July 23, 2018
Turnover on July 23, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4408.85
5012.39
(603.54)
339234
28553.36
3.12
216064
19838.02
18.91
FUTURES
FUTURES
INDEX
INDEX
52233.59
52315.17
(81.58)
889998
76027.99
(0.45)
5146602
491851.05
36.26
OPTIONS
OPTIONS
STOCK
25002.96
25020.91
(17.95)
1123698
80325.78
(0.80)
STOCK
FUTURES
1489041
99075.33
45.71
FUTURES
STOCK
STOCK
7905.16
7923.61
(18.45)
118476
8175.71
(4.12)
1008395
75054.45
-4.86
OPTIONS
OPTIONS
Total
89550.56
90272.08
(721.52)
2471406
193082.84
(0.32)
TOTAL
7860102
685818.85
30.75
Nifty Spot = 11084.75
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11100
50.25
Buy
11100
52.05
36.00
64.00
11136.00
27.60
72.40
11072.40
Sell
11200
14.25
Sell
11000
24.45
Buy
11100
50.25
Buy
11100
52.05
47.65
152.35
11147.65
39.25
160.75
11060.75
Sell
11300
2.60
Sell
10900
12.80
Buy
11200
14.25
Buy
11000
24.45
11.65
88.35
11211.65
11.65
88.35
10988.35
Sell
11300
2.60
Sell
10900
12.80
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 24, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
365
374
380
389
395
ASIANPAINT
1,364
1,398
1,431
1,466
1,499
AXISBANK
524
532
539
547
553
BAJAJ-AUTO
2,540
2,612
2,727
2,799
2,914
BAJFINANCE
2,677
2,716
2,757
2,796
2,837
BAJAJFINSV
6,489
6,706
6,848
7,065
7,207
BPCL
376
383
392
399
408
BHARTIARTL
340
349
355
364
370
INFRATEL
281
284
287
290
292
CIPLA
610
622
630
642
650
COALINDIA
258
260
263
265
268
DRREDDY
2,009
2,025
2,049
2,066
2,090
EICHERMOT
26,602
26,813
27,080
27,291
27,558
GAIL
351
355
360
364
369
GRASIM
892
907
931
946
970
HCLTECH
982
994
1,002
1,014
1,022
HDFCBANK
2,118
2,137
2,158
2,177
2,197
HDFC
1,943
1,955
1,971
1,983
2,000
HEROMOTOCO
2,913
3,039
3,213
3,339
3,513
HINDALCO
190
193
196
199
202
HINDPETRO
273
276
279
282
285
HINDUNILVR
1,642
1,666
1,684
1,708
1,727
IBULHSGFIN
1,165
1,181
1,191
1,208
1,218
ICICIBANK
261
269
272
279
283
IOC
160
161
163
165
167
INDUSINDBK
1,889
1,915
1,929
1,954
1,968
INFY
1,322
1,339
1,353
1,371
1,385
ITC
273
279
283
288
292
KOTAKBANK
1,308
1,323
1,337
1,351
1,365
LT
1,254
1,267
1,275
1,287
1,296
LUPIN
787
794
800
806
812
M&M
900
905
909
914
918
MARUTI
9,230
9,465
9,608
9,843
9,986
NTPC
153
156
158
160
162
ONGC
153
155
157
159
161
POWERGRID
175
176
177
178
179
RELIANCE
1,104
1,112
1,121
1,129
1,138
SBIN
258
262
265
269
272
SUNPHARMA
553
557
562
567
572
TCS
1,977
1,991
2,001
2,015
2,024
TATAMOTORS
248
253
256
262
265
TATASTEEL
490
504
512
525
533
TECHM
628
638
650
660
671
TITAN
836
847
857
868
877
ULTRACEMCO
3,813
3,911
3,978
4,076
4,142
UPL
533
582
611
661
689
VEDANTA
196
204
209
216
221
WIPRO
255
266
274
285
293
YESBANK
378
382
387
392
397
ZEEL
498
506
513
521
528
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Technical & Derivatives Report
July 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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