Technical & Derivatives Report
July 26, 2019
Sensex (37831) / Nifty (11252)
Exhibit 1: Nifty Daily Chart
We had a flat opening yesterday owing to mixed global cues.
However, during the first half an hour of the trade, we saw
strong bout of buying to push the index near Wednesday’s
high of 11359.75. In fact, in this process, Nifty managed to
surpass it by a small margin and then similar to recent trend,
this lead got sold into. Thereafter, index struggled
throughout the remaining part of the day to eventually
conclude the July series at two month’s low.
During the day, we saw couple of attempts to show some
strength but it seems that market is extremely dejected and is
not willing to show any kind of stability. This is typical kind of
scenario, when market tries to prove ‘hope trade’ wrong and
Yesterday, there was lot of stock specific action seen in the
till the time, traders are not giving up, similar sort of
market. Amongst the heavyweight pockets, the ‘IT’ was
underperformance is likely to continue. As far as levels are
clearly bucking the trend, which was somehow trying to
concerned, 11200 - 11108 would be seen as immediate
defend the benchmark. Also, few Pharma names kept
levels in the downward direction and on the flipside, 11300
buzzing throughout the day and eventually saw a complete
followed by 11360 continue to act as a sturdy wall.
gush towards the closing point of the day. Do watch out for
these names as we expect traction to continue in the
forthcoming session as well.
Key Levels
Support 1 - 11200
Resistance 1 - 11300
Support 2 - 11108
Resistance 2 -
11360
Nifty Bank Outlook - (29043)
Exhibit 2: Nifty Bank Daily Chart
The Bank Nifty opened marginally positive and attempted a
pullback move in the first hour of the trade. However, the
index was unable to surpass its previous sessions high and
gave up some of the gains before consolidating in a narrow
range for rest of the day. The index traded within its previous
sessions range and ended tad above the 29000 mark.
The daily chart of the index depicts formation of an 'Inside
Bar' which is seen when the index trades within its previous
sessions range. This indicates a consolidation during the day
and move above 29252 is now required for any pullback
move post the recent correction. A crossover above the above
mentioned level could then lead to a relief rally towards
29635. However, as the trend continues to remain negative,
traders are advised not to pre-empt any up move and trade
only if the index moves above the mentioned resistance. The
immediate supports for the index are placed around 28870
and 28525.
Key Levels
Support 1 - 28870
Resistance 1 -
29252
Support 2 - 28525
Resistance 2 -
29635
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Technical & Derivatives Report
July 26, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 18.25%
Bank Nifty futures open interest has decreased by
29.06% as market closed at 11252.15 levels.
The Nifty August future closed with a premium of 48.90
points against a premium of 2.75 points in last trading
session. The September series closed at a premium of
100.55 points.
The INDIA VIX has decreased from 12.76 to 12.63.
At the same time, the PCR-OI of Nifty has increased
from 0.96 to 1.37.
Few of the liquid counters where we have seen high cost
of carry are DISHTV, TATAGLOBAL. TORNTPOWER, PNB
and DLF.
Views
OI Gainers
We began July series with full of hopes expecting
OI
PRICE
SCRIP
OI
PRICE
positive triggers from the Union Budget
2019.
CHG. (%)
CHG. (%)
However the kind of reaction seen post
BAJFINANCE
6820750
5.05
3173.55
-3.39
announcement, clearly suggested disappointment and
IOC
59871000
6.33
147.95
0.27
hence we witnessed a sharp sell-off thereafter to drag
BAJAJFINSV
873750
-1.23
7065.30
-1.68
index towards 11500 mark in merely two trading
CIPLA
10695000
-0.97
518.75
-1.71
sessions. After some respite towards 11700, once
SRTRANSFIN
4989600
3.69
925.35
-5.59
again fresh selling got attracted to conclude the series
TATAMOTORS
64923000
0.95
151.25
-3.36
almost at the lowest points and down nearly 5% series
HINDPETRO
16058700
-0.10
278.60
-4.01
on series.
FIIs were net sellers in cash market segment to the
tune of Rs. 127 cr. In index futures segment, they sold
OI Losers
of worth Rs. 1178 cr with good amount of significant
OI
PRICE
fall in OI, mainly due to expiry.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
During the major part of the series, we hardly saw any
CONCOR
2797770
-2.66
530.80
-1.42
relevant build-up in index futures; however, good
RECLTD
49494000
-7.62
142.90
-3.01
amount of shorting was seen in the expiry week. Now,
INDIGO
4404600
-9.33
1595.00
4.34
Rollovers for July series seems to be on the lower side
MCX
2454900
14.27
831.45
-2.53
than the averages, it stands at 74%. We are beginning
OIL
12640881
-3.40
155.10
-1.46
the series with lower base and good amount of short
CHOLAFIN
3855000
2.25
238.55
-4.84
rollovers in majority of individual counters. At current
TORNTPOWER
4833000
-11.53
306.85
-0.76
juncture, 11100-11200 is an important support zone;
BHEL
61785000
27.58
61.90
-3.05
whereas, 11400-11500 shall act as a hurdle in the near
term
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
LUPIN
29.51
NIFTY
0.96
0.82
CIPLA
24.75
BANKNIFTY
0.56
0.88
NIITTECH
21.60
RELIANCE
0.50
0.82
SRTRANSFIN
55.46
ICICIBANK
0.49
0.77
HINDPETRO
37.81
INFY
1.37
0.73
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Technical & Derivatives Report
July 26, 2019
FII Statistics for July 25, 2019
Turnover on July 25, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
7658.31
8836.02
(1177.70)
188433
14749.76
(34.31)
603581
44797.46
29.88
FUTURES
FUTURES
INDEX
INDEX
374019.19
371314.90
2704.29
392738
31512.95
(35.20)
35801178
2362105.84
75.06
OPTIONS
OPTIONS
STOCK
STOCK
25535.75
25118.11
417.65
1369295
83792.53
(6.21)
FUTURES
1983715
117359.89
3.37
FUTURES
STOCK
3104.96
3018.37
86.59
16719
1015.51
(71.62)
STOCK
1217536
79107.39
9.11
OPTIONS
OPTIONS
Total
410318.21
408287.39
2030.82
1967185
131070.75
(18.44)
TOTAL
39606010
2603370.58
65.84
Nifty Spot = 11252.15
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11300
170.35
Buy
11200
126.75
50.70
49.30
11350.70
32.55
67.45
11167.45
Sell
11400
119.65
Sell
11100
94.20
Buy
11300
170.35
Buy
11200
126.75
92.05
107.95
11392.05
56.80
143.20
11143.20
Sell
11500
78.30
Sell
11000
69.95
Buy
11400
119.65
Buy
11100
94.20
41.35
58.65
11441.35
24.25
75.75
11075.75
Sell
11500
78.30
Sell
11000
69.95
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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