Technical & Derivatives Report
September 24, 2018
Sensex (36842) / Nifty (11143)
Exhibit 1: Nifty Daily Chart
The week gone by was clearly the worst for our markets in last
few months. We have been correcting right from the word go,
started on Monday and Friday was like adding insult to the injury.
At one point on Friday, index and the broader market was falling
like a pack of cards; threatening market participants to a great
extent. Fortunately, we did manage to give a decent recovery
from lows and have closed at the make or break level.
Now, if we have to analyze the index on weekly and Monthly
chart, we can see index precisely testing key Fibonacci ratios and
thereby giving some ray of hope for the bulls. In addition, for
Nifty, the daily close has come above the daily ‘89 EMA’, which is
another sigh of relief. But, if we look at the second major index,
Bank Nifty, it does not give any encouraging sign at this point in
time. Hence, next week would be quite crucial for our markets to
set a near term trend. For this week, 11210 followed
by 11350 would be seen as immediate hurdles. If index has to
gain some kind of strength, it should first take out these barriers
convincingly with an authority. On the other hand, if we fail to do
so and again slide below 11050 - 11000, then it would certainly
not augur well as we may see a sharp slide once again to test
lower levels.
Hence, as trader, our advice would be to stay light on positions
and one has to be agile while picking up stocks at least for the
momentum perspective. Also, we need to highlight that we may
see higher volatility going forward and hence, aggressive
positions should be strictly avoided.
Key Levels
Support 1 - 11050
Resistance 1 -
11210
Support 2 - 11000
Resistance 2 -
11350
Nifty Bank Outlook - (25597)
Exhibit 2: Nifty Bank Daily Chart
Friday’s movement in the Banking and Financial space was
certainly a blow for many traders as the Nifty Bank index tanked
more than 1200 points in intraday. Although the index recovered
some of the losses, it posted a loss of more than 5 percent during
the week. The day started with another gap down opening in one
of the private sector bank i.e. Yes Bank. Although the stock
tanked about 30 percent, the index somehow managed to trade
positively, balanced by other heavyweights. However, the carnage
was seen at noon wherein the broader markets witnessed a
breakdown and the Nifty Bank index plunged by more than 1200
points. In the process, there was no importance given o the
supports such as ‘200 DMA’. In last few sessions, we have been
advising to avoid bets in the banking and financial space and
unless there are reversals seen, traders should continue to stay on
sidelines and avoid taking undue risks.
Key Levels
Support 1 - 25350
Resistance 1 -
25850
Support 2 - 25100
Resistance 2 - 26000
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Technical & Derivatives Report
September 24, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 6.07%
Bank Nifty futures open interest has increased by 10.05%
as market closed at 11143.10 levels.
The Nifty September future closed with a premium of
23.25 points against a premium of 38.45 points in last
trading session. The October series closed at a premium
of 65.50 points.
The INDIA VIX has increased from 14.00 to 15.53. At the
same time, the PCR-OI of Nifty has remained unchanged
at 1.14.
Few of the liquid counters where we have seen high cost
of carry are INFIBEAM, VOLTAS, OFSS, SUZLON and
MINDTREE.
Views
FIIs were net buyers in cash market segment to the tune
of Rs. 761 crores. At the same time, they bought worth
OI Gainers
Rs. 1564 crores in index futures with decent rise in open
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
interest, indicating long formation took place on Friday’s
YESBANK
112866250
18.96
226.50
-29.00
trading session
JUSTDIAL
4088000
18.55
523.25
3.92
In options front, they sold worth Rs. 4740 crores with
ADANIPOWER
181800000
11.62
26.10
-10.90
marginal change in open interest. As far as Nifty options
CHENNPETRO
1357500
11.45
286.30
-1.59
activities are considered, we saw fresh build-up in
HCC
42228000
11.13
12.25
-12.90
11100-11200 call options; followed by unwinding in
IFCI
70225000
9.51
15.10
-2.88
11300 and 12200 strikes. On the flip side, we saw good
NHPC
28890000
8.52
23.75
-1.86
amount of unwinding in 11100-11500 put options.
Maximum open interest for September series is placed at
SYNDIBANK
32382000
8.41
34.40
-6.64
11500 followed by 11600 call and 11000 followed by
11200 put options.
OI Losers
It was indeed one of the worst weeks for our market, as
OI
PRICE
the benchmark index tanked more than 3% on the
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
closing basis. In index futures segment, we saw decent
DHFL
25351500
-18.08
350.55
-42.65
long unwinding in the recent fall; however, the banking
TORNTPHARM
642000
-16.57
1729.75
-1.82
index added good amount of short positions. Due to
BALRAMCHIN
8624000
-15.73
79.10
-9.57
Friday’s fall, we saw some panic scenario in the market,
DIVISLAB
2271200
-15.15
1387.95
-0.29
resulting INDIAVIX surging above the hurdle of 16. At
BALKRISIND
2544000
-13.52
1085.00
-2.14
current juncture, 10850 on the lower side and 11350 on
ANDHRABANK
13468000
-11.90
29.45
-4.99
the higher side are the important levels. Going ahead,
CANBK
10584000
-11.71
239.35
-2.89
unless we don’t see any up move along with meaningful
MANAPPURAM
21942000
-11.37
81.70
-3.14
long positions; traders are advised avoiding any longs
and shall rather focus on individual counters.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
DHFL
262.07
NIFTY
1.14
0.96
YESBANK
165.63
BANKNIFTY
0.60
0.84
INFIBEAM
123.26
RELIANCE
0.48
0.74
REPCOHOME
57.48
ICICIBANK
0.49
0.69
OIL
31.71
INFY
0.44
0.63
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Technical & Derivatives Report
September 24, 2018
FII Statistics for September 21, 2018
Turnover on September 21, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
9308.84
7744.81
1564.03
325938
27670.50
2.53
523422
48038.26
92.64
FUTURES
FUTURES
INDEX
INDEX
175393.97
180134.41
(4740.45)
973403
83800.21
0.29
11133469
1060028.86
-44.06
OPTIONS
OPTIONS
STOCK
28382.45
27766.91
615.54
1259465
90127.76
2.56
STOCK
FUTURES
1887998
122743.83
90.83
FUTURES
STOCK
STOCK
18780.03
19065.10
(285.07)
147093
10205.44
2.82
1421676
103023.57
55.71
OPTIONS
OPTIONS
Total
231865.29
234711.24
(2845.95)
2705899
211803.91
1.74
TOTAL
14966565
1333834.52
-34.95
Nifty Spot = 11143.10
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11100
122.95
Buy
11200
63.60
58.20
41.80
11158.20
22.10
77.90
11177.90
Sell
11200
64.75
Sell
11100
41.50
Buy
11100
122.95
Buy
11200
63.60
92.80
107.20
11192.80
37.30
162.70
11162.70
Sell
11300
30.15
Sell
11000
26.30
Buy
11200
64.75
Buy
11100
41.50
34.60
65.40
11234.60
15.20
84.80
11084.80
Sell
11300
30.15
Sell
11000
26.30
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
September 24, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
289
326
353
389
416
ASIANPAINT
1,168
1,236
1,281
1,349
1,393
AXISBANK
528
564
599
634
669
BAJAJ-AUTO
2,602
2,700
2,772
2,870
2,942
BAJFINANCE
1,921
2,150
2,354
2,583
2,786
BAJAJFINSV
4,945
5,602
6,024
6,681
7,103
BPCL
355
366
372
383
390
BHARTIARTL
347
359
369
381
392
INFRATEL
266
274
278
286
290
CIPLA
621
637
654
670
688
COALINDIA
266
270
278
283
291
DRREDDY
2,326
2,441
2,556
2,671
2,786
EICHERMOT
26,628
27,284
27,992
28,648
29,356
GAIL
374
382
388
396
403
GRASIM
960
1,005
1,044
1,089
1,128
HCLTECH
1,072
1,078
1,085
1,092
1,099
HDFCBANK
1,870
1,920
1,960
2,010
2,050
HDFC
1,740
1,790
1,832
1,882
1,924
HEROMOTOCO
2,959
3,067
3,128
3,236
3,297
HINDALCO
217
229
236
247
254
HINDPETRO
242
250
255
263
269
HINDUNILVR
1,578
1,599
1,628
1,650
1,679
IBULHSGFIN
582
822
1,006
1,246
1,429
ICICIBANK
294
306
320
331
345
IOC
153
155
157
160
162
INDUSINDBK
1,673
1,718
1,776
1,821
1,879
INFY
680
692
705
718
730
ITC
297
301
304
307
310
KOTAKBANK
1,087
1,133
1,190
1,236
1,293
LT
1,288
1,309
1,331
1,352
1,373
LUPIN
814
852
892
930
970
M&M
829
894
936
1,001
1,042
MARUTI
7,263
7,652
7,988
8,377
8,714
NTPC
163
165
170
172
177
ONGC
175
178
180
182
184
POWERGRID
192
196
199
203
206
RELIANCE
1,159
1,188
1,213
1,242
1,267
SBIN
242
256
268
282
294
SUNPHARMA
594
615
635
655
675
TCS
2,021
2,062
2,091
2,133
2,162
TATAMOTORS
217
234
246
262
274
TATASTEEL
556
590
619
654
682
TECHM
657
698
733
774
810
TITAN
748
774
805
832
863
ULTRACEMCO
3,837
3,953
4,027
4,143
4,216
UPL
534
600
654
720
775
VEDANTA
215
223
229
237
243
WIPRO
324
330
334
339
344
YESBANK
175
201
244
270
313
ZEEL
424
437
448
461
472
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Technical & Derivatives Report
September 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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