Technical & Derivatives Report
November 26, 2018
Sensex (34981) / Nifty (10527)
Exhibit 1: Nifty Daily Chart
During the last week, we had a gap up opening to begin the
trading for the week. The global set up was just perfect for such
kind of head start. In the process, the Nifty went on to enter the
corridor of uncertainty around 10750 - 10780. However, as most
of the traders were scared of; index saw profit taking after
reaching this crucial resistance zone. All three remaining days
ended well inside the negative territory and eventually, index
closed tad above the 10500 mark.
In our last week's article, we had clearly stated about index
nearing a cluster of resistance in the zone of 10750 - 10780.
Precisely, this mentioned area turned out to be a culprit as we
saw decent profit booking after entering this zone. Now, going
ahead, 10500 - 10440 would be seen as a make or break level
for the bulls. Traders holding long positions should exit if Nifty
remains below the recent swing low of 10440. On the
flipside, 10646 - 10775 is likely to be treated as immediate
hurdles. If Nifty has to gain any strength then it has to first
overcome this sturdy wall. Till then one needs to stay light on
positions and avoid taking undue risks.
The banking index has been bucking the trend; but eventually it
succumbed to the strong selling in the broader market. It’s
trading round crucial support and hence, one needs to closely
observe the development in the banking space going forward. In
addition, the midcap basket has been struggling to traverse its
multiple days’ high and hence, this week would not be easy for
momentum traders to place their bets in the market.
Key Levels
Support 1 - 10500
Resistance 1 -
10646
Support 2 - 10440
Resistance 2 -
10700
Nifty Bank Outlook - (25999)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index oscillated in a range and
ultimately a sell-off on Thursday led to the index ending the week
with a cut of about a percent.
In last few days, we had seen some outperformance from the
banking index. But in Thursday's session, the index corrected
along with the broader markets and closed around its support of
26000. In next few sessions, the Nifty Bank index could retrace
some of the gains recently seen and if the correction continues
below the 26000 mark, then it could test its supports of 25947
and 25480. On the flipside, the resistances are seen around
26220 and 26380. Traders are advised to stay light at current
juncture and look to add fresh positions only if the index shows
some positive signs near the mentioned supports.
Key Levels
Support 1 - 25947
Resistance 1 -
26220
Support 2 - 25480
Resistance 2 -
26380
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Technical & Derivatives Report
November 26, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.57%.
Bank Nifty futures open interest has decreased by
22.86% as market closed at 10526.75 levels.
The Nifty November future closed with a discount of 2.05
points against a premium of 21.55 points in last trading
session. The December series closed at a premium of
36.00 points.
The INDIA VIX has decreased from 19.55 to 19.16.
At the same time, the PCR-OI of Nifty has decreased
from 1.55 to 1.46.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, JPASSOCIAT, ADANIPOWER,
ALBK and RAMCOCEM.
Views
FIIs were net buyers in cash market segment to the tune
OI Gainers
of 446 crores. In index futures segment, they bought of
OI
PRICE
Rs. 1601 crores in index futures with fall in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating short covering took place in yesterday’s
DALMIABHA
797400
28.65
2384.70
0.84
session.
AMARAJABAT
1533700
11.16
715.65
-1.43
In options front, they bought of Rs. 1604 crores with
OIL
4836777
9.38
205.15
0.58
some fall in open interest. As far as Nifty options
IDFCBANK
139208000
8.76
39.00
6.87
activities are considered, we saw fresh build-up in
CEATLTD
1009600
8.46
1235.15
-2.18
10500-10700 call strikes; followed by unwinding in
ESCORTS
4757500
8.34
661.70
0.03
10800 and 10900 strikes. On the flip side, decent
SYNDIBANK
26058000
8.01
35.40
-1.26
unwinding took place in 10400-10700 put options.
APOLLOTYRE
12423000
7.53
218.75
-3.29
Now, Maximum open interest for November series now
stands at 10700 followed by 11000 call and 10000
followed by 9800 put options.
OI Losers
Last week, the benchmark index rallied towards 10750-
OI
PRICE
SCRIP
OI
PRICE
10800 on Monday but in next three consecutive sessions
CHG. (%)
CHG. (%)
we saw sharp sell-off to drag index below 10550 mark
EXIDEIND
6872000
-9.15
250.75
0.10
on the closing basis. Despite such selling, we hardly saw
BEML
1373000
-6.31
750.80
0.16
any relevant change in Nifty open interest. On Thursday,
TATAELXSI
1546400
-6.14
992.00
1.68
index did correct towards 10500 mark but we didn’t see
HCC
16933172
-6.01
11.60
-4.17
any unwinding by put writer of 10500 strike which hold
MINDTREE
2790600
-5.95
828.85
-0.34
second highest OI. At current juncture, 10450-10500
TORNTPHARM
370500
-5.73
1642.65
0.50
shall act as an immediate support for index; whereas,
GRANULES
10640000
-5.72
93.30
-2.36
10700-10750 is the hurdle area. Thus, any dip in the
DIVISLAB
2554000
-5.37
1529.30
-0.82
coming week shall be an opportunity to add-on fresh
longs.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CAPF
53.49
NIFTY
1.46
0.88
IDFCBANK
50.82
BANKNIFTY
0.63
0.86
ZEEL
37.23
RELIANCE
0.52
0.58
CASTROLIND
37.10
ICICIBANK
0.65
0.54
VGUARD
31.77
INFY
0.60
0.46
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Technical & Derivatives Report
November 26, 2018
FII Statistics for November 22, 2018
Turnover on November 22, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3526.33
1925.74
1600.58
431739
32936.57
(5.57)
338124
21418.20
-6.37
FUTURES
FUTURES
INDEX
INDEX
127727.92
126123.40
1604.52
1056066
76394.52
(1.17)
27957025
1528094.01
89.54
OPTIONS
OPTIONS
STOCK
8199.27
8487.84
(288.57)
1443785
83330.99
0.26
STOCK
FUTURES
790269
44290.25
-14.44
FUTURES
STOCK
STOCK
7756.18
7846.45
(90.27)
176448
10384.37
(0.44)
769390
44545.31
-13.94
OPTIONS
OPTIONS
Total
147209.70
144383.43
2826.27
3108038
203046.45
(1.11)
TOTAL
74455
700968
75.67
Nifty Spot = 10526.75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10500
92.20
Buy
10500
68.15
48.00
52.00
10548.00
29.80
70.20
10470.20
Sell
10600
44.20
Sell
10400
38.35
Buy
10500
92.20
Buy
10500
68.15
76.80
123.20
10576.80
46.80
153.20
10453.20
Sell
10700
15.40
Sell
10300
21.35
Buy
10600
44.20
Buy
10400
38.35
28.80
71.20
10628.80
17.00
83.00
10383.00
Sell
10700
15.40
Sell
10300
21.35
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
November 26, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
355
361
366
373
378
ASIANPAINT
1,296
1,305
1,318
1,327
1,340
AXISBANK
601
608
619
625
636
BAJAJ-AUTO
2,555
2,573
2,598
2,616
2,642
BAJFINANCE
2,304
2,343
2,399
2,438
2,494
BAJAJFINSV
5,557
5,640
5,783
5,866
6,009
BPCL
311
316
322
326
332
BHARTIARTL
311
320
330
338
348
INFRATEL
236
247
255
266
275
CIPLA
505
511
518
525
531
COALINDIA
253
255
258
260
263
DRREDDY
2,557
2,583
2,601
2,627
2,645
EICHERMOT
23,636
23,873
24,176
24,413
24,716
GAIL
338
342
346
349
353
GRASIM
825
834
850
859
875
HCLTECH
959
969
985
996
1,012
HDFCBANK
1,979
1,992
2,014
2,027
2,048
HDFC
1,854
1,864
1,877
1,886
1,899
HEROMOTOCO
2,832
2,875
2,915
2,958
2,997
HINDALCO
211
215
220
223
229
HINDPETRO
235
239
243
247
252
HINDUNILVR
1,640
1,658
1,681
1,698
1,721
IBULHSGFIN
682
694
712
724
742
ICICIBANK
346
349
354
357
361
IOC
135
137
140
141
144
INDUSINDBK
1,496
1,513
1,538
1,555
1,580
INFY
610
616
622
627
633
ITC
277
279
282
283
286
JSW STEEL
312
316
322
326
332
KOTAKBANK
1,159
1,165
1,173
1,179
1,188
LT
1,385
1,398
1,409
1,421
1,432
M&M
724
735
754
765
784
MARUTI
7,299
7,355
7,417
7,474
7,536
NTPC
144
145
147
148
149
ONGC
150
151
153
154
155
POWERGRID
175
177
180
183
186
RELIANCE
1,084
1,094
1,109
1,119
1,135
SBIN
278
281
284
286
289
SUNPHARMA
520
523
528
531
535
TCS
1,786
1,799
1,823
1,837
1,861
TATAMOTORS
179
181
183
185
188
TATASTEEL
528
534
544
549
559
TECHM
671
681
695
705
720
TITAN
899
907
920
929
942
ULTRACEMCO
3,869
3,910
3,980
4,021
4,091
UPL
765
772
778
785
792
VEDANTA
195
198
201
203
207
WIPRO
298
302
311
315
323
YESBANK
189
192
198
201
207
ZEEL
433
446
453
466
473
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Technical & Derivatives Report
November 26, 2018
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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