Technical & Derivatives Report
March 25, 2019
Sensex (38165) / Nifty (11457)
Exhibit 1: Nifty Daily Chart
Last week was more of a consolidation for our markets after
recent relentless run from lower levels. We started the trading for
the week on a positive note and then continued our march higher
towards the next psychological junction of 11500. Since the
overall optimism was so high, Nifty did manage to test and even
surpass this level during the week. But during the latter half of the
week, index saw subdued moves with some hint of profit booking
on Friday to conclude tad below 11500 by adding negligible
gains to the previous week’s close.
Last week’s lethargic move was no surprise to us as we had
clearly opined about a possible consolidation after Nifty entering
the important trading range of 11500 - 11600. In fact, we saw
some tiredness on the last day of the week. Nifty breached
previous day’s low for the first time in last 9 days; whereas Bank
Nifty did similar on the 13th day. More than weakness, we would
rather construe this as pull back or profit booking move, which
was very much overdue after giving such a steep rally in a short
span.
As far as levels are concerned, 11520 followed by
11600
remains to be immediate hurdles and on the flipside, support is
visible in the vicinity of 11420 - 11383 for this week. In our
sense, this breather was necessary before Nifty moving towards
its record highs. Thus, we still advise traders not to have a
contrarian approach on market and should rather capitalize on
such declines. However having said that, one needs to be very
fussy now when it comes to the stock selection; because not all
stocks are likely to perform well in such kind of consolidation.
Key Levels
Support 1 - 11420
Resistance 1 -
11520
Support 2 - 11383
Resistance 2 -
11600
Nifty Bank Outlook - (29582)
Exhibit 2: Nifty Bank Daily Chart
Quite similar to previous few sessions, Bank Nifty witnessed a gap
up opening on Friday however it lacked follow up buying and
along with broader markets witnessed a session of profit booking.
Bank Nifty eventually ended with a loss of 0.84% at 29582. In our
previous outlook, we had mentioned a resistance zone in
range 30000-30100 and a chance of profit booking from these
levels. On the daily chart, Index has now broken below its
previous session low for the first time in the last 13th sessions.
Going ahead, we may see further consolidation or profit booking
however the undercurrent remains bullish and hence such dips
should be used as an entry opportunity. Traders are advised to
have a stock specific approach within the sector which are likely
to give better trading opportunities. As far as levels are concerned
immediate support is placed around 29500 - 29360 whereas
resistance is placed around 30000 - 30100.
Key Levels
Support 1 - 29500
Resistance 1 -
30000
Support 2 - 29360
Resistance 2 -
30100
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Technical & Derivatives Report
March 25, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.07%.
Bank Nifty futures open interest has decreased by 7.02%
as market closed at 11456.90 levels.
The Nifty March future closed with a premium of 15.50
points against a premium of 32.15 points in last trading
session. The April series closed at a premium of 81.55
points.
The INDIA VIX has increased from 16.03 to 16.27.
At the same time, the PCR-OI of Nifty has decreased
from 1.71 to 1.60.
Few of the liquid counters where we have seen high cost
of carry are ADANIPOWER, SUZLON, RAMCOCEM,
NMDC and SRF.
Views
As indicated by the global peers, the benchmark index
started-off the session on a positive note. However, this
OI Gainers
gain was short lived as we witnessed decent profit
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
booking from the hurdle of 11550-11600 and in the
NTPC
102302400
34.83
134.65
3.83
process Nifty tanked below 11450 mark. In the final
MOTHERSUMI
38463600
28.07
147.00
-7.81
hour, index consolidated to end the session with a cut of
COALINDIA
49775000
23.75
231.95
1.18
0.56.
IOC
82131000
23.15
157.05
-1.19
FIIs continued their buying in equities; they bought to the
ONGC
68778750
17.50
152.35
0.90
tune of Rs. 1375 crores. In index futures segment, they
ICICIPRULI
10758000
15.64
329.30
-4.05
bought of Rs. 550 crores with fall in open interest,
OIL
12042657
15.29
172.05
-1.97
suggesting short covering took place in previous session.
As far as Nifty options activities are concerned, 11600
RELCAPITAL
12405000
14.01
181.95
-6.97
call option added huge positions which in turn shifted the
highest open interest concentration from
11500 to
OI Losers
11600 strike. Some build-up was also seen in 11500,
OI
PRICE
11650 and 11700 call options. On the other side, we
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
saw fresh open interest addition in 11450 and 11600
BPCL
7849800
-12.73
378.95
-2.51
put options along with unwinding in 11500 strike.
GODFRYPHLP
480200
-10.91
1125.25
-1.57
In the week gone by, index consolidated in the range of
SIEMENS
1783100
-7.74
1049.05
-1.34
11400-11600 and we saw some profit booking around
MANAPPURAM
10500000
-5.71
122.80
-1.32
the resistance zone of 11550-11600. At present, the
IGL
3467750
-5.61
304.65
-0.26
outstanding contracts in Index futures are long heavy and
SHREECEM
84250
-5.50
18118.25
0.39
as we are approaching near the expiry, some long
CUMMINSIND
1472100
-5.48
753.20
0.72
unwinding was on cards. Going ahead, 11600 shall act
RECLTD
30816000
-5.47
140.95
-2.65
as a strong hurdle for index; whereas, 10380-10400 is
an immediate base.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
EXIDEIND
30.35
NIFTY
1.60
1.07
MOTHERSUMI
63.26
BANKNIFTY
0.95
1.09
BANKBARODA
44.71
RELIANCE
0.85
0.69
COLPAL
22.24
ICICIBANK
0.78
0.65
NTPC
44.70
INFY
0.86
0.46
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Technical & Derivatives Report
March 25, 2019
FII Statistics for March 22, 2019
Turnover on March 22, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
5423.11
4872.99
550.11
328666
26521.89
(2.05)
393727
29042.78
58.97
FUTURES
FUTURES
INDEX
INDEX
161049.74
160249.90
799.84
1037233
81863.16
3.68
10688634
737432.13
-57.86
OPTIONS
OPTIONS
STOCK
15411.63
17297.01
(1885.38)
1491171
94135.46
1.37
STOCK
FUTURES
1065536
65897.40
13.83
FUTURES
STOCK
STOCK
8893.77
8955.95
(62.18)
154512
9893.42
2.44
967927
62853.89
6.58
OPTIONS
OPTIONS
Total
190778.25
191375.85
(597.61)
3011582
212413.93
1.82
TOTAL
74455
700968
-52.51
Nifty Spot = 11456.90
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11500
57.35
Buy
11500
82.85
33.35
66.65
11533.35
40.80
59.20
11459.20
Sell
11600
24.00
Sell
11400
42.05
Buy
11500
57.35
Buy
11500
82.85
49.25
150.75
11549.25
61.70
138.30
11438.30
Sell
11700
8.10
Sell
11300
21.15
Buy
11600
24.00
Buy
11400
42.05
15.90
84.10
11615.90
20.90
79.10
11379.10
Sell
11700
8.10
Sell
11300
21.15
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 25, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
353
357
359
363
366
ASIANPAINT
1,441
1,456
1,468
1,483
1,495
AXISBANK
722
740
753
770
783
BAJAJ-AUTO
2,891
2,920
2,960
2,989
3,028
BAJFINANCE
2,770
2,803
2,849
2,883
2,929
BAJAJFINSV
6,852
6,906
6,993
7,047
7,134
BPCL
365
372
383
390
402
BHARTIARTL
318
325
336
343
354
INFRATEL
304
310
320
326
335
CIPLA
514
521
530
536
545
COALINDIA
228
230
232
234
236
DRREDDY
2,716
2,734
2,756
2,774
2,797
EICHERMOT
21,066
21,256
21,465
21,656
21,865
GAIL
340
344
352
356
364
GRASIM
807
813
821
828
836
HCLTECH
1,000
1,013
1,030
1,043
1,060
HDFCBANK
2,248
2,262
2,285
2,299
2,321
HDFC
1,948
1,965
1,987
2,004
2,027
HEROMOTOCO
2,568
2,586
2,612
2,629
2,656
HINDALCO
203
206
209
212
214
HINDPETRO
259
264
271
276
283
HINDUNILVR
1,655
1,667
1,685
1,697
1,715
IBULHSGFIN
705
716
735
746
766
ICICIBANK
386
389
393
395
399
IOC
152
154
158
161
164
INDUSINDBK
1,671
1,685
1,708
1,722
1,745
INFY
727
735
741
749
755
ITC
295
297
298
300
302
JSW STEEL
280
283
286
289
293
KOTAKBANK
1,310
1,323
1,344
1,357
1,378
LT
1,357
1,376
1,395
1,414
1,434
M&M
663
671
678
686
692
MARUTI
6,417
6,485
6,600
6,669
6,784
NTPC
127
131
134
137
140
ONGC
146
149
151
154
156
POWERGRID
195
197
199
201
203
RELIANCE
1,309
1,325
1,353
1,370
1,397
SBIN
291
295
300
304
310
SUNPHARMA
464
469
474
479
484
TCS
1,969
1,987
2,002
2,020
2,034
TATAMOTORS
170
173
177
180
185
TATASTEEL
511
515
519
523
528
TECHM
775
782
790
797
805
TITAN
1,076
1,089
1,107
1,120
1,138
ULTRACEMCO
3,837
3,883
3,930
3,977
4,023
UPL
921
928
934
942
948
VEDANTA
171
172
175
176
178
WIPRO
256
258
261
263
266
YESBANK
246
249
253
257
261
ZEEL
421
428
438
445
456
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Technical & Derivatives Report
March 25, 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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