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Technical & Derivatives Report
September 26
, 2019
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Sensex (
8594
) / Nifty
(1
440
)
Most of the Asian markets were trading with a negative bias in
morning and in line with the global cues, our markets too opened
marginally negative. With open high same scenario, the Nifty
breached low of the 'Doji' candle formed on the previous day.
Nifty then witnessed a sell-off and it corrected throughout the
session to end the day with a loss of around 150 points.
Now, although the intraday correction in the Nifty and the
BankNifty index looks sharp, but if we look at the positional chart
then this downmove post the recent sharp upmove just seems to
be a correction within an uptrend. Hence, there are no signs of
worry as of now and thus traders should look for buying
opportunities in this correction. With yesterday's move, the Nifty
has ended in the vicinity of the gap area of 11380-11470 which
was created on Monday. This gap area, followed by the 38.2%
retracement level around 11300 are the key support levels from
where the index could again resume positive momentum. On the
flipside, 11600-11700 is the immediate resistance zone for the
index.
Key Levels
Support 1 – 11380 Resistance 1 – 11600
Support 2 – 11300 Resistance 2 – 11700
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
29586
)
In yesterday's session ,the Bank Nifty index witnessed another cut
of about 600 points to end the day with a cut of about 2 percent.
Although, the index has witnessed a sharp correction in the last
couple of sessions, there are no signs of a change in trend. Since
the upmove of about 4000 points in just a couple of sessions was
very sharp, we have been witnessing a sharp move in the contra
direction of the short term trend as well. In yesterday's session ,the
index has ended in the gap area which was formed on Monday.
This gap support around 29420, followed by the 38.2%
retracement of the recent upmove at 29200 are the key near term
support for the index. On the flipside, the immediate resistance
for the index is seen around 30000-30250. Traders are advised
to look for buying opportunities in stocks within this sector as the
index has approached its support zone. We expect the banking
space to resume its positive momentum once this corrective phase
is over.
Key Levels
Support 1 – 29420 Resistance 1 – 30000
Support 2 – 29200 Resistance 2 – 30250
Exhibit 2: Nifty Bank Daily Chart
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September 26
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Nifty Vs OI
Views
We had a slightly negative start for the day and once
again we witnessed bear taking the charge to drage
index below the support zone of 11500. Further
selling in the second half led closing with a cut of
1.28%.
FIIs were net sellers in cash market segment to the tune
of Rs. 342 cr. In index futures, they sold of worth
Rs. 166 cr with good amount of fall in open interest,
indicating unwinding of both long and shorts ahead
expiry.
During start of the September series, we did see mixed
activity in index futures segment; however, majority of
the positions formed were on short side. Since last
Friday, we saw a strong recovery along with unwinding
of some shorts and addition of fresh longs. The highest
open interest concentration has now shifted lower in
yesterday’s fall to 11400 put and 11500 call option. As
we have expiry today and decent amount of shorts are
still intact, we expect some short covering rally in
today’s session.
Comments
The Nifty futures open interest has decreased by 8.83%
Bank Nifty futures open interest has increased 5.79% as
market closed at 11440.20 levels.
The Nifty September future closed with a premium of
26.90 points against a premium of 25.65 points in last
trading session. The October series closed at a premium
of 79.85 points.
The INDIA VIX has decreased from 16.73 to 16.17.
At the same time, the PCR-OI of Nifty has decreased
from 1.44 to 1.27.
Few of the liquid counters where we have seen high cost
of carry are IDEA, IDBI, RELCAPITAL, BOSCHLTD and
HAVELLS.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPHARM 488500 19.88 1703.10 0.23
CHOLAFIN 4695000 12.39 296.10 -2.52
ZEEL 37050000 11.59 273.25 -2.30
SBIN 108654000 10.83 280.25 -7.24
APOLLOHOSP 2297000 7.89 1427.55 -1.91
TVSMOTOR 7471200 7.50 401.80 -4.80
RBLBANK 13641600 7.10 383.70 -4.29
CONCOR 5068809 6.78 600.20 3.10
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
KAJARIACER 218400 -40.85 568.05 -4.39
ARVIND 1848000 -39.49 51.15 -8.29
OFSS 48900 -38.84 2953.95 0.27
IDBI 7392000 -36.17 36.90 8.61
ENGINERSIN 1936600 -33.17 109.90 -2.72
RAYMOND 660000 -25.14 586.90 -0.85
RELCAPITAL 5262000 -19.76 31.15 2.29
RELINFRA 6400000 -18.20 36.00 -1.63
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.27 0.93
BANKNIFTY 0.87 0.80
RELIANCE 0.77 0.67
ICICIBANK 0.91 0.68
INFY 1.03 0.49
Historical Volatility
SCRIP HV
ARVIND 72.52
POWERGRID 36.23
STAR 44.96
HEXAWARE 34.66
SBIN 70.13
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Technical & Derivatives Report
September 26
, 2019
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot
=
11
440.20
Lot Size = 75
FII Statistics for September
25
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
11576.81 11743.13 (166.32) 264355 21182.99 (10.02)
INDEX
OPTIONS
277615.89 275808.46 1807.43
1042290 81695.91 7.18
STOCK
FUTURES
37256.86 37865.11 (608.25) 1590320 96755.74 (1.51)
STOCK
OPTIONS
6243.75 6171.45 72.30
79414 4829.91 (11.59)
Total 332693.31
331588.15
1105.16
2976379
204464.55
0.18
Turnover on September
25
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
597396 44516.17 -1.59
INDEX
OPTIONS
19125264 1323760.63 17.92
STOCK
FUTURES
2142744 125288.91 -3.18
STOCK
OPTIONS
1183111 77262.67 7.52
TOTAL 2,30,48,515
1570828.38 14.73
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11400 87.20
59.55 40.45 11459.55
Sell 11500 27.65
Buy 11400 87.20
80.85 119.15 11480.85
Sell 11600 6.35
Buy 11500 27.65
21.30 78.70 11521.30
Sell 11600 6.35
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11400 20.30
12.70 87.30 11387.30
Sell 11300 7.60
Buy 11400 20.30
16.20 183.80 11383.80
Sell 11200 4.10
Buy 11300 7.60
3.50 96.50 11296.50
Sell 11200 4.10
Nifty Put-Call Analysis
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Technical & Derivatives Report
September 26
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Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 405 410
414 419 423
ASIANPAINT 1,699 1,725
1,755 1,781 1,810
AXISBANK 674 685
694 704 714
BAJAJ-AUTO 2,884 2,912
2,939 2,967 2,994
BAJFINANCE 3,831 3,881
3,940 3,990 4,049
BAJAJFINSV 8,050 8,153
8,264 8,367 8,478
BPCL 437 451
462 476 487
BHARTIARTL 331 336
344 349 356
INFRATEL 248 253
256 261 264
BRITANNIA 2,953 2,995
3,042 3,084 3,132
CIPLA 421 428
439 446 457
COALINDIA 187 190
194 197 202
DRREDDY 2,735 2,754
2,769 2,788 2,803
EICHERMOT 16,724 17,162
17,843 18,281 18,962
GAIL 132 134
137 139 141
GRASIM 703 713
729 740 756
HCLTECH 1,036 1,045
1,053 1,063 1,071
HDFCBANK 1,220 1,230
1,240 1,250 1,260
HDFC 2,005 2,036
2,081 2,113 2,158
HEROMOTOCO 2,595 2,648
2,699 2,751 2,802
HINDALCO 184 187
192 195 200
HINDUNILVR 1,991 2,021
2,042 2,072 2,093
IBULHSGFIN 411 418
426 432 440
ICICIBANK 424 429
435 440 446
IOC 134 138
140 143 146
INDUSINDBK 1,477 1,491
1,506 1,519 1,534
INFY 772 783
792 802 811
ITC 235 241
249 255 262
JSW STEEL 225 230
233 237 240
KOTAKBANK 1,563 1,582
1,600 1,619 1,636
LT 1,424 1,437
1,459 1,472 1,495
M&M 510 522
540 553 571
MARUTI 6,349 6,494
6,747 6,892 7,145
NTPC 113 115
117 119 120
ONGC 129 130
132 133 135
POWERGRID 188 193
198 204 209
RELIANCE 1,255 1,268
1,282 1,294 1,308
SBIN 266 273
285 292 304
SUNPHARMA 396 401
407 412 418
TCS 2,048 2,068
2,080 2,100 2,112
TATAMOTORS 116 120
125 128 133
TATASTEEL 352 357
363 367 373
TECHM 693 699
705 711 717
TITAN 1,229 1,248
1,281 1,300 1,333
ULTRACEMCO 4,206 4,242
4,291 4,327 4,376
UPL 569 573
576 580 583
VEDANTA 150 153
156 159 162
WIPRO 236 237
239 241 243
YESBANK 51 52
55 56 58
ZEEL 254 264
279 289 304
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Technical & Derivatives Report
September 26
, 2019
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*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cs[email protected]elbroking.com
For Derivatives Queries E-mail: derivatives.d[email protected]angelbroking.com
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