Technical & Derivatives Report
April 26, 2019
Exhibit 1: Nifty Daily Chart
Sensex (38731) / Nifty (11642)
Wednesday’s spectacular recovery was followed by a flat opening
with mildly positive bias. The index then continued its northward
trajectory towards the 11800 mark. However, we witnessed
massive profit taking at higher levels and hence, we were well off
from the kissing distance of 11800. This sell off aggravated
during the last hour of the day, which led index convincingly
below 11700 within a blink of an eye. Eventually, this volatile
session ended with a loss of over seven tenths of a percent.
We had an ideal start yesterday and very much on expected lines,
index continued its march towards
11800. However, first
technical and then derivative factor played out strongly in the
market yesterday, leading to a strong intraday correction.
Technically, if we look at the hourly chart, Nifty faced resistance
precisely at the 78.6% Fibonacci retracement of the recent down
However, having said that, one need to be agile now and any
move from 11856.15 to 11564.80. Adding to this, there was
copy book ‘Shooting star’ was formed around this hurdle and
unfavorable development below this support should be treated
hence, it weighed down heavily to initiate the profit booking
as an alarming sign for momentum traders. On the flipside,
mode. And then the expiry factor towards the fag end of the
11725 and 11800 are the immediate levels to watch out for. At
session, which dragged index significantly lower below its key
present, traders are advised to stay light and keep following
intraday support. Honestly speaking, we did not expect this kind
strict stop losses for existing positions.
of bizarre session especially after Wednesday’s remarkable rally.
Key Levels
Now as far as levels are concerned, 11600 followed by 11549
Support 1 - 11600
Resistance 1 -
11725
would still be seen as major support zone. We reiterate that, till
Support 2 - 11549
Resistance 2 -
11800
the time we are above 11549, there is no reason to worry for.
Nifty Bank Outlook - (29561)
Exhibit 2: Nifty Bank Daily Chart
The roller coaster ride continued on the day of F&O expiry. The
Bank Nifty continued the positive momentum in the initial couple
hours of the trade yesterday. However, as the day progressed, the
index gave up the gains and ended the day with a loss of about
300 points.
In our yesterday's report, we had mentioned two resistance levels
at 30050 and 30200. The index rallied higher up to the first
resistance area and corrected sharply thereon. The volatility is
expected to remain high and hence, traders should prefer to stay
light and manage proper risk management on positions. The
supports for the index are placed around 29435 and 29150
whereas resistances are seen around 30050 and 30200.
Key Levels
Support 1 - 29435
Resistance 1 -
30050
Support 2 - 29150
Resistance 2 -
30200
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Technical & Derivatives Report
April 26, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 8.27%.
Bank Nifty futures open interest has decreased by
26.71% as market closed at 11641.80 levels.
The Nifty May future closed with a premium of 89.05
points against a premium of
100.80 points in last
trading session. The June series closed at a premium of
131.40 points.
The INDIA VIX has decreased from 23.71 to 23.23.
At the same time, the PCR-OI of Nifty has decreased
from 1.65 to 1.62.
Few of the liquid counters where we have seen high cost
of carry are DLF, SUZLON, GODFRYPHLP, IDBI and
NBCC.
Views
It was indeed a volatile expiry for our market as we
OI Gainers
began the day slightly higher and extended Wednesday’s
OI
PRICE
SCRIP
OI
PRICE
move almost towards 11800 mark but sharp selling in
CHG. (%)
CHG. (%)
the later half erased all the gains. In the final hour,
INFRATEL
7180000
5.34
270.70
-12.55
selling accelerated to correct below 11650 on the closing
AMBUJACEM
21447500
4.41
220.55
-1.42
bases.
OIL
7953660
3.04
177.45
-1.27
FII’s were net buyers in the equity segment to the tune of
PEL
3545480
1.64
2555.10
-1.47
Rs. 3785 crores. In index futures front, they were buyers
TATACHEM
3114000
1.44
572.20
-1.37
of Rs. 152 crores with good amount of fall in open
BHARATFIN
4937500
1.05
1044.55
-1.99
interest, due to expiry.
MFSL
2023200
0.48
438.45
-1.16
In index options front, they were sellers of Rs. 508 crores
with fall in OI. In Nifty, build-up was scattered between
11700-12000 call and
11400-11800 put options.
Highest open interest concentration for the current weekly
OI Losers
series is now visible in 11800 call and 11600 put
OI
PRICE
SCRIP
OI
PRICE
options.
CHG. (%)
CHG. (%)
COALINDIA
27203000
-40.29
251.65
-0.88
We concluded March series on a slightly positive note. It
IOC
39259500
-32.47
152.70
-0.64
was observed that at intraday upmoves fresh long were
formed; whereas, declines in market was mainly due to
DLF
44691400
-29.59
173.60
-0.89
profit booking and not short formation. Rollovers in Nifty
JETAIRWAYS
3880800
-29.33
169.75
0.77
stood at 81%, which indicated very strong rollovers in
SBIN
62310000
-28.28
306.20
-1.53
May series. Stronger hand too rolled their bullish bets in
NTPC
62520000
-27.44
132.90
-0.81
index futures, resulting jump in Long Short Ratio from
IBULHSGFIN
13904500
-26.82
733.30
-2.43
69% to 75% series on series. Considering the above F&O
YESBANK
120886500
-26.60
237.05
-0.79
activity, we remain upbeat on the market and hence
would advise traders to add fresh longs on declines.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
INFRATEL
60.02
NIFTY
1.62
0.93
GRASIM
34.04
BANKNIFTY
0.75
0.96
GODREJCP
26.93
RELIANCE
0.68
0.81
ULTRACEMCO
38.75
ICICIBANK
0.93
0.59
M&MFIN
36.12
INFY
1.68
0.84
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Technical & Derivatives Report
April 26, 2019
FII Statistics for April 25, 2019
Turnover on April 25, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
9894.87
9742.97
151.91
243546
20337.05
(16.73)
645058
49660.78
45.68
FUTURES
FUTURES
INDEX
INDEX
386988.97
387497.30
(508.33)
548191
45118.16
(44.88)
34646174
2296420.42
92.53
OPTIONS
OPTIONS
STOCK
27036.56
26457.86
578.70
1277761
81960.55
(17.76)
STOCK
FUTURES
2067116
128549.55
3.16
FUTURES
STOCK
STOCK
4847.81
4480.15
367.66
23440
1507.26
(81.32)
1440259
93477.33
29.94
OPTIONS
OPTIONS
Total
428768.21
428178.28
589.94
2092938
148923.02
(29.44)
TOTAL
623820
2238702
80.42
Nifty Spot = 11641.80
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11700
42.35
Buy
11700
67.75
27.80
72.20
11727.80
35.35
64.65
11664.65
Sell
11800
14.55
Sell
11600
32.40
Buy
11700
42.35
Buy
11700
67.75
37.40
162.60
11737.40
53.10
146.90
11646.90
Sell
11900
4.95
Sell
11500
14.65
Buy
11800
14.55
Buy
11600
32.40
9.60
90.40
11809.60
17.75
82.25
11582.25
Sell
11900
4.95
Sell
11500
14.65
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
April 26, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
385
387
390
392
395
ASIANPAINT
1,427
1,437
1,449
1,459
1,471
AXISBANK
726
733
746
753
766
BAJAJ-AUTO
2,993
3,040
3,075
3,123
3,158
BAJFINANCE
3,048
3,064
3,089
3,106
3,131
BAJAJFINSV
7,566
7,618
7,677
7,729
7,788
BPCL
343
351
355
363
367
BHARTIARTL
316
322
327
334
339
INFRATEL
246
258
278
291
310
BRITANNIA
2,941
2,955
2,977
2,991
3,013
CIPLA
544
550
557
563
570
COALINDIA
245
248
252
255
259
DRREDDY
2,801
2,863
2,901
2,963
3,002
EICHERMOT
20,087
20,214
20,426
20,553
20,765
GAIL
337
340
344
348
352
GRASIM
850
887
914
951
978
HCLTECH
1,116
1,125
1,138
1,147
1,160
HDFCBANK
2,233
2,248
2,273
2,289
2,314
HDFC
1,915
1,935
1,967
1,987
2,019
HEROMOTOCO
2,576
2,594
2,616
2,634
2,656
HINDALCO
191
194
198
201
205
HINDUNILVR
1,706
1,720
1,741
1,755
1,777
IBULHSGFIN
702
718
740
755
778
ICICIBANK
389
392
397
400
405
IOC
150
151
153
155
157
INDUSINDBK
1,642
1,663
1,693
1,714
1,744
INFY
720
725
731
735
742
ITC
298
301
305
309
313
JSW STEEL
280
283
289
292
298
KOTAKBANK
1,342
1,351
1,364
1,373
1,386
LT
1,334
1,345
1,363
1,373
1,391
M&M
658
662
667
671
676
MARUTI
6,692
6,799
6,972
7,078
7,252
NTPC
130
132
134
135
137
ONGC
165
167
168
170
172
POWERGRID
188
190
193
195
198
RELIANCE
1,333
1,353
1,382
1,402
1,432
SBIN
301
304
308
310
314
SUNPHARMA
450
455
465
471
480
TCS
2,152
2,174
2,189
2,211
2,226
TATAMOTORS
217
219
223
225
228
TATASTEEL
496
503
516
524
537
TECHM
805
811
819
825
833
TITAN
1,118
1,129
1,147
1,159
1,177
ULTRACEMCO
4,347
4,483
4,585
4,721
4,823
UPL
934
949
962
977
990
VEDANTA
167
169
172
174
177
WIPRO
292
293
295
296
298
YESBANK
227
232
241
246
256
ZEEL
406
411
418
423
430
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Technical & Derivatives Report
April 26, 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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