www.angelbroking.com
Technical & Derivatives Report
December 24, 2019
Sensex (
41643
) / Nifty
2263
)
The index started trading for the week marginally negative
amidst a gap down opening in the index heavyweight Reliance
Industries. However, the index traded within a range for most
part of the session. The index witnessed a dip towards 12200
around 2.30 pm but again recovered from the lows to end the
session with a negligible loss.
Yesterday's session could be termed as a consolidation post
the recent sharp upmove. However, one noticeable thing was
the recovery at the end from the intraday lows. This is a sign
of strength wherein the intraday dips are being bought into.
Hence, we advise traders to focus on stock specific strategies
and trade with positive bias. The immediate support for the
index is placed in the range of 12160-12200 whereas
resistance is seen around 12300 and 12350.
Key Levels
Support 1 – 12200 Resistance 1 – 12300
Support 2 – 12160 Resistance 2 – 12350
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
32339
)
BankNifty started the week on a flat note and this index too
traded in a narrow range. The intraday dip around 32200
was bought into as the index recovered in 45 minutes to end
the session with a marginal loss. The broader trend for the
banking space continues to be positive as the index as well as
the heavyweight constituents have not shown any signs of
reversal. Hence, we continue with our optimistic stance and
advise traders to trade with a positive bias. The intraday
supports for the index are placed around 32200 and 32000
whereas resistances are seen around 32500 and 32800.
Key Levels
Support 1 – 32200 Resistance 1 – 32500
Support 2 – 32000 Resistance 2 – 32800
Exhibit 2: Nifty Bank Daily Chart
www.angelbroking.com
Technical & Derivatives Report
December 24, 2019
Nifty Vs OI
Views
After strong upmove last week, we started-off the
truncated week slightly lower. During the day, index
consolidated and corrected towards 12200 mark;
however, smart recovery from this support zone led to
closing marginally lower and tad above 12250 mark.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1462 crores. In index futures, they bought
worth Rs. 611 crores with a decent rise in open interest,
suggesting fresh long formation in the last trading
session.
During the start of December series, we witnessed
some correction; but this fall wasn’t supported by any
shorts in the futures segment. In the recovery seen
thereafter, good amount of long position are being
added in the system and are still intact. The volatility
index plunged below 12%, which is a good sign for
bulls. At present, 12300 is an immediate hurdle and
any upmove beyond this may bring index towards
12400-12500. Whereas, 12200 is a strong base for
the time being. Considering the overall positions in the
system, we maintain our optimistic stance on the
market and hence would advise traders to trade with a
positive bias.
Comments
The Nifty futures open interest has increased by 1.11%
Bank Nifty futures open interest has increased 3.07% as
market closed at 12262.75 levels.
The Nifty December future closed with a premium of
13.70 points against a premium of 18.20 points in last
trading session. The January series closed at a premium
of 73.20 points.
The INDIA VIX has decreased from 12.32 to 11.95.
At the same time, the PCR-OI of Nifty has decreased
from 1.73 to 1.66.
Few of the liquid counters where we have seen high cost
of carry are NBCC, NATIONALUM, IOC, COALINDIA
and ASHOKLEY.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NMDC 30144000 18.16 123.65 -0.80
WIPRO 28374400 18.07 253.85 0.87
NIITTECH 782250 11.55 1578.50 -0.46
COALINDIA 15249300 10.48 197.25 -1.44
RBLBANK 18761700 10.38 334.00 -2.43
FEDERALBNK 66899000 10.09 85.90 -1.83
GMRINFRA 194625000 9.19 21.45 -1.83
JUBLFOOD 2379500 9.03 1577.40 -0.20
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TATAELXSI 1010400 -16.80 855.65 -0.35
UNIONBANK 16380000 -16.13 58.45 -1.26
BIOCON 10722200 -15.32 285.65 -1.28
TORNTPHARM 322500 -10.66 1867.50 1.71
HEXAWARE 1189500 -7.90 329.20 -1.30
TORNTPOWER 4065000 -7.82 283.75 -0.72
HEROMOTOCO 4275400 -7.64 2420.10 0.99
BALKRISIND 1960000 -5.99 951.10 0.49
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.66 1.10
BANKNIFTY 1.28 0.98
RELIANCE 0.71 0.80
ICICIBANK 0.88 0.68
INFY 0.66 0.45
Historical Volatility
SCRIP HV
TATACHEM 25.54
NESTLEIND 26.74
BOSCHLTD 31.58
BERGEPAINT 35.34
RELIANCE 24.62
www.angelbroking.com
Technical & Derivatives Report
December 24, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot
=
122
62.75
Lot Size
= 75
FII Statistics for
December
23
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5522.50 4910.73 611.77
194512 16972.36 4.21
INDEX
OPTIONS
160978.10 159801.08 1177.02
649664 56572.57 3.19
STOCK
FUTURES
40519.80 39715.43 804.37
1546865 100673.00 (3.14)
STOCK
OPTIONS
3695.47 3661.89 33.58
51316 2940.58 (15.20)
Total 210715.87
208089.13
2626.74
2442357
177158.51
(1.27)
Turnover on
December
23
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
254837 20237.57 23.66
INDEX
OPTIONS
11046732 820771.98 43.12
STOCK
FUTURES
1716360 107135.81 35.87
STOCK
OPTIONS
900427 59837.53 -5.72
TOTAL 1,39,18,356
1007982.89 37.67
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12300 30.40
25.55 74.45 12325.55
Sell 12400 4.85
Buy 12300 30.40
28.95 171.05 12328.95
Sell 12500 1.45
Buy 12400 4.85
3.40 96.60 12403.40
Sell 12500 1.45
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12300 56.90
38.45 61.55 12261.55
Sell 12200 18.45
Buy 12300 56.90
51.05 148.95 12248.95
Sell 12100 5.85
Buy 12200 18.45
12.60 87.40 12187.40
Sell 12100 5.85
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
December 24, 2019
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 359 363
368 373 378
ASIANPAINT 1,774 1,791
1,803 1,819 1,831
AXISBANK 729 736
742 750 756
BAJAJ-AUTO 3,169 3,194
3,210 3,235 3,250
BAJFINANCE 4,104 4,132
4,158 4,186 4,212
BAJAJFINSV 9,202 9,253
9,312 9,362 9,421
BPCL 482 488
493 499 505
BHARTIARTL 441 448
453 460 466
INFRATEL 246 250
253 257 260
BRITANNIA 3,048 3,070
3,100 3,122 3,152
CIPLA 463 465
467 470 472
COALINDIA 193 195
199 201 205
DRREDDY 2,848 2,878
2,898 2,928 2,948
EICHERMOT 21,765 21,971
22,205 22,411 22,645
GAIL 117 119
120 122 124
GRASIM 725 734
743 752 761
HCLTECH 562 566
571 575 580
HDFCBANK 1,283 1,293
1,298 1,308 1,314
HDFC 2,372 2,397
2,415 2,441 2,459
HEROMOTOCO 2,358 2,389
2,412 2,443 2,466
HINDALCO 210 213
216 219 222
HINDUNILVR 1,935 1,943
1,952 1,960 1,970
ICICIBANK 531 536
543 548 554
IOC 124 125
127 128 130
INDUSINDBK 1,470 1,483
1,492 1,505 1,515
INFY 729 733
735 738 741
ITC 236 237
240 242 244
JSW STEEL 257 261
266 269 274
KOTAKBANK 1,688 1,696
1,704 1,712 1,720
LT 1,296 1,304
1,313 1,321 1,330
M&M 518 522
529 533 540
MARUTI 7,201 7,281
7,330 7,410 7,458
NESTLEIND 14,169 14,351
14,672 14,854 15,175
NTPC 113 114
115 115 116
ONGC 123 124
125 126 127
POWERGRID 183 185
186 187 189
RELIANCE 1,549 1,560
1,569 1,580 1,589
SBIN 325 329
334 337 342
SUNPHARMA 424 426
429 431 434
TCS 2,196 2,214
2,228 2,246 2,260
TATAMOTORS 172 174
176 179 181
TATASTEEL 452 457
462 467 473
TECHM 767 771
779 784 792
TITAN 1,185 1,197
1,213 1,225 1,241
ULTRACEMCO 4,006 4,044
4,106 4,144 4,206
UPL 560 569
583 591 605
VEDANTA 144 146
147 149 150
WIPRO 250 252
253 255 256
YESBANK 47 48
50 52 54
ZEEL 279 287
292 300 304
www.angelbroking.com
Technical & Derivatives Report
December 24, 2019
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cso@angelbroking.com
For Derivatives Queries E-mail: derivatives.d[email protected]angelbroking.com
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.