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Technical & Derivatives Report
November 26, 2019
Sensex (
40889
) / Nifty
2074
)
Most of the Asian markets were trading with a positive bias in
morning and in line with the global cues, our market started the
week on a positive note. Right from the word go, the index
witnessed a buying momentum and with participation from the
broader markets, Nifty crept higher throughout the session to end
with gains of over 150 points.
Recently, we have seen a consolidation phase in the Nifty index
wherein the index had traded within the range of 11800-12050
in this calendar month. However, although the index was
consolidating, there was sector rotation seen as the certain
pockets witnessed buying momentum in this consolidation.
Hence, we kept our view positive on the index and interpreted this
consolidation as a time-wise correction within and uptrend. In
yesterday’s session, broader markets witnessed positive
momentum throughout the day and as a result, the index
resumed its uptrend and is now few points away from its all-time
high. The time-wise correction now seems to be over and hence,
we expect the momentum to accelerate from hereon to take the
indices to the unchartered territory. Infact, we will not be surprised
if the markets show a gap up opening to register new highs and
then continue its northward trajectory. The immediate target
areas once the Nifty reaches new highs will be around 12180
followed by 12290, whereas the immediate supports will now be
seen in 12000-11950 range.
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
31556
)
Bank Nifty Index witnessed a lower opening for the week however
it defended the previous session low and moved higher
throughout the session to cross above its recent high. Bank Nifty
Index eventually ended with gains of around 1.43% at 31556.
For the last few weeks, Bank Nifty has outperformed as compared
to benchmark index Nifty and in yesterday's session, it was an all-
round performance with private as well as PSU banks
participating. We expect this positive momentum to continue and
the banking index to test its all-time high of 31783 and extend
further in the very near term. Traders are hence advised to keep
positive bias and avoid contrarian bets. As far as support levels
are concerned, 31350 followed by 31050 are the immediate
demand zone.
Key Levels
Support 1 – 31350 Resistance 1 – 31783
Support 2 – 31050 Resistance 2 – 32000
Exhibit 2: Nifty Bank Daily Chart
Amongst sectorial indices, all the indices except Nifty Media
ended in the green with the metal space outperforming the most.
The Banking and the Pharma space too seems will be continuing
its upmove and hence, traders are advised to trade with a
positive bias and look for opportunities which could deliver good
returns in near term.
Key Levels
Support 1 – 12000 Resistance 1 – 12103
Support 2 – 11950 Resistance 2 – 12180
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Technical & Derivatives Report
November 26, 2019
Nifty Vs OI
Views
Since last three week, the benchmark index
consolidated in the narrow range of 11800-12050.
Finally, as anticipated we saw Nifty surpassing the
higher side of this range in yesterday’s session. We
started off on a positive note and witnessed follow-up
buying as the day progressed to eventually conclude
the day tad above 12050.
FIIs were net buyers in the cash market segment to the
tune of Rs. 961 cr. In index futures, they sold worth
Rs. 1953 crores with marginal change in open interest,
indicating blend of long and short covering in the
previous trading session.
As far as open interest activities in index futures are
concerned, we witnessed addition of fresh long
positions in both the indices. In options front, the call
writers of 12000-12500 looked intimidated and hence,
the covered their positions. On the other side, 12000-
12100 puts added fresh positions and considering the
momentum, it seems these are short positions. The
above data is now all set for a decent rally from hereon
after decent consolidation. Hence, traders are advised
trading with a positive bias for the targets of 12200-
12300.
Comments
The Nifty futures open interest has increased by 5.75%
Bank Nifty futures open interest has increased 2.02% as
market closed at 12073.75 levels.
The Nifty October future closed with a premium of 22.55
points against a premium of 0.10 points in last trading
session. The November series closed at a premium of
67.85 points.
The INDIA VIX has increased from 14.87 to 15.00.
At the same time, the PCR-OI of Nifty has increased from
1.31 to 1.71.
Few of the liquid counters where we have seen high cost
of carry are ACC, EQUITAS, HEROMOTOCO,
TATAPOWER and IBULHSGFIN.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ONGC 31658800 23.66 130.95 -2.05
GLENMARK 8842200 23.54 349.40 1.09
YESBANK 242206800 22.65 63.75 -1.54
IBULHSGFIN 39712400 16.22 259.45 10.34
BHARATFORG 10304800 14.63 448.30 -0.29
GMRINFRA 171765000 13.84 20.75 0.73
MUTHOOTFIN 4242000 12.94 684.90 0.00
BIOCON 13767400 12.19 258.60 1.09
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TVSMOTOR 8576500 -12.75 455.50 3.09
ASHOKLEY 86530000 -12.02 83.35 2.58
APOLLOTYRE 11934000 -10.08 170.25 2.00
BANKINDIA 13086000 -9.16 74.60 2.05
HAVELLS 5813000 -7.89 665.10 3.86
TATAELXSI 1042800 -7.31 798.35 1.46
PNB 110626100 -7.11 64.40 1.41
TORNTPHARM 379000 -6.88 1760.10 2.59
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.71 0.97
BANKNIFTY 1.43 0.84
RELIANCE 0.96 0.80
ICICIBANK 0.72 0.41
INFY 0.47 0.61
Historical Volatility
SCRIP HV
L&TFH 55.97
HINDALCO 39.17
TATACHEM 25.71
BHARTIARTL 66.77
ADANIENT 55.06
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Technical & Derivatives Report
November 26, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot
=
12073.75
Lot Size = 75
FII Statistics for
November
25, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
8731.55 6778.11 1953.44
214653 18058.23 (0.09)
INDEX
OPTIONS
187668.45 187114.91 553.54
681809 58168.47 1.31
STOCK
FUTURES
27130.49 26987.61 142.88
1678855 99345.66 4.02
STOCK
OPTIONS
5122.57 5043.03 79.54
85799 4825.18 (6.26)
Total 228653.06
225923.66
2729.40
2661116
180397.54
2.61
Turnover on
November
25
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
393274 30676.39 48.97
INDEX
OPTIONS
12434809 914570.16 45.98
STOCK
FUTURES
1638666 91228.14 54.74
STOCK
OPTIONS
1022717 61108.87 0.49
TOTAL 1,54,89,466
1097583.56 43.13
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12100 56.30
36.75 63.25 12136.75
Sell 12200 19.55
Buy 12100 56.30
50.70 149.30 12150.70
Sell 12300 5.60
Buy 12200 19.55
13.95 86.05 12213.95
Sell 12300 5.60
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12100 60.15
33.55 66.45 12066.45
Sell 12000 26.60
Buy 12100 60.15
49.05 150.95 12050.95
Sell 11900 11.10
Buy 12000 26.60
15.50 84.50 11984.50
Sell 11900 11.10
Nifty Put-Call Analysis
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Technical & Derivatives Report
November 26, 2019
Da
ily
Pivot
Le
vels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 367 371
375 379 383
ASIANPAINT 1,646 1,679
1,698 1,730 1,750
AXISBANK 720 738
747 764 774
BAJAJ-AUTO 3,068 3,132
3,169 3,233 3,270
BAJFINANCE 4,031 4,086
4,118 4,173 4,205
BAJAJFINSV 8,932 9,053
9,137 9,258 9,342
BPCL 497 502
509 514 520
BHARTIARTL 409 430
443 464 477
INFRATEL 226 238
245 257 264
BRITANNIA 2,989 3,015
3,030 3,056 3,071
CIPLA 472 478
482 487 491
COALINDIA 197 199
200 202 203
DRREDDY 2,816 2,868
2,902 2,954 2,988
EICHERMOT 22,510 22,916
23,166 23,572 23,822
GAIL 121 121
122 123 124
GRASIM 780 801
813 834 846
HCLTECH 1,099 1,112
1,119 1,132 1,139
HDFCBANK 1,256 1,264
1,272 1,279 1,287
HDFC 2,203 2,249
2,273 2,319 2,343
HEROMOTOCO 2,397 2,438
2,469 2,509 2,540
HINDALCO 186 193
197 203 207
HINDUNILVR 2,004 2,031
2,049 2,076 2,094
ICICIBANK 488 493
496 501 505
IOC 128 129
131 132 133
INDUSINDBK 1,427 1,461
1,480 1,514 1,533
INFY 687 692
699 704 711
ITC 245 247
247 249 250
JSW STEEL 249 255
258 263 267
KOTAKBANK 1,557 1,580
1,593 1,616 1,629
LT 1,362 1,372
1,380 1,390 1,398
M&M 542 545
549 552 556
MARUTI 6,957 7,096
7,180 7,320 7,403
NESTLEIND 13,982 14,235
14,407 14,660 14,832
NTPC 117 117
118 119 119
ONGC 128 129
132 134 136
POWERGRID 196 197
199 200 202
RELIANCE 1,545 1,553
1,559 1,567 1,573
SBIN 325 330
334 340 343
SUNPHARMA 444 451
458 465 472
TCS 2,040 2,061
2,073 2,094 2,106
TATAMOTORS 158 162
164 169 171
TATASTEEL 397 408
415 426 433
TECHM 745 754
760 769 775
TITAN 1,134 1,149
1,158 1,173 1,182
ULTRACEMCO 4,079 4,096
4,113 4,130 4,146
UPL 528 536
542 550 556
VEDANTA 140 143
145 148 150
WIPRO 240 242
243 244 245
YESBANK 61 62
64 65 67
ZEEL 327 333
344 350 361
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Technical & Derivatives Report
November 26, 2019
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]elbroking.com
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