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Technical & Derivatives Report
December 26, 2019
Sensex (
41461
) / Nifty
2215
)
In the absence of any trigger, our markets started on a flat
note on Tuesday and quite similar to the previous session
traded in a range for the major part of the day. However,
during the last hour some profit booking was seen which
pushed Nifty to test 12200 levels and end tad above it with
loss of around 0.39%.
Post the recent sharp up move; the Nifty has consolidated in a
range in last few sessions with no major price swings. But the
trend still remains positive and we interpret this consolidation
as a time-wise correction within an uptrend. Even though Nifty
witnessed a couple of down days, the broader markets
continue to enjoy the bull run as individual stocks continue to
outperform. On the F&O expiry day, traders are advised to
continue focus on stock-specific trades and use dips to enter
long on index. As far as levels are concerned, immediate
support for the index is placed around 12160-12130 whereas
resistance is seen around 12280-12300 levels.
Key Levels
Support 1 – 12160 Resistance 1 – 12280
Support 2 – 12130 Resistance 2 – 12300
Exhibit 1: Nifty Daily Chart
Nifty Bank Outl
ook
-
(
32281
)
Bank Nifty Index too started on a flat note on Tuesday and
after trading in a range ended with minor loss of 0.18% at
32281.
Technically not much has changed and after the recent sharp
upmove the prices are now witnessing some consolidation.
Our bias remains positive and we recommend traders to have
a stock specific approach for the stocks within the basket. As
far as levels are concerned immediate support is placed
around 32150 and 32000 levels whereas resistance is placed
around 32500 and 32800 levels.
Key Levels
Support 1 – 32150 Resistance 1 – 32500
Support 2 – 32800 Resistance 2 – 32800
Exhibit 2: Nifty Bank Daily Chart
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December 26, 2019
Nifty Vs OI
Views
We began Tuesday’s session almost flat and similar to
the previous session saw consolidation towards 12200
mark. However, in absent of any buying interest we
witnessed further profit booking in the final hour of
trade to eventually conclude the session with another
cut of 48 points.
FIIs were net sellers in the cash market segment to the
tune of Rs. 114 crores. In index futures, they sold worth
Rs. 469 crores with a some rise in open interest,
suggesting long unwinding along with some short
formation took place in the last trading session.
During the start of December series, we witnessed
some correction; but this fall wasn’t supported by any
shorts in the futures segment. In the recovery seen
thereafter, good amount of long position are being
added in the system and are still intact. The volatility
index plunged below 12%, which is a good sign for
bulls. At present, 12300 is an immediate hurdle and
any upmove beyond this may bring index towards
12400-12500. Whereas, 12150-12200 is a strong
base for the time being. Considering the overall
positions in the system, we maintain our optimistic
stance on the market and hence would advise traders
avoiding any bearish bets.
Comments
The Nifty futures open interest has decreased by 3.13%
Bank Nifty futures open interest has increased 4.83% as
market closed at 12214.55 levels.
The Nifty December future closed with a premium of
23.90 points against a premium of 13.70 points in last
trading session. The January series closed at a premium
of 79.20 points.
The INDIA VIX has decreased from 11.95 to 11.62.
At the same time, the PCR-OI of Nifty has decreased
from 1.66 to 1.48.
Few of the liquid counters where we have seen high cost
of carry are IDEA, DISHTV, SRTRANSFIN, BIOCON and
BRITANNIA.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BOSCHLTD 150200 13.36 15363.75 -0.38
YESBANK 245909400 11.25 51.20 3.32
GMRINFRA 215055000 10.50 21.35 -0.47
ADANIPOWER 96590000 7.45 60.70 -0.41
LICHSGFIN 10944500 4.59 423.75 -0.93
M&M 24815000 4.29 527.50 0.09
CADILAHC 7806000 4.04 258.45 -1.37
BHEL 77531600 3.59 43.50 -1.47
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TATAELXSI 769800 -23.81 842.00 -1.70
UNIONBANK 13580000 -17.09 58.35 -0.51
GLENMARK 5384800 -13.35 351.85 0.11
HEXAWARE 1035000 -12.99 330.85 0.73
MGL 1950000 -11.47 1049.10 -0.38
HEROMOTOCO 3842400 -10.13 2432.70 0.48
MUTHOOTFIN 4234500 -9.34 744.15 0.03
PAGEIND 131725 -8.70 21930.30 -0.70
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.48 1.04
BANKNIFTY 1.22 0.98
RELIANCE 0.62 0.68
ICICIBANK 0.90 0.65
INFY 0.69 0.58
Historical Volatility
SCRIP HV
UBL 29.63
NATIONALUM 40.07
HCLTECH 20.72
CIPLA 26.37
BPCL 37.62
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Technical & Derivatives Report
December 26, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot
=
122
14.55
Lot Size = 75
FII Statistics for
December
24
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
2908.68 3377.94 (469.26) 195506 16876.50 0.51
INDEX
OPTIONS
169862.91 168840.18 1022.73
663757 57279.30 2.17
STOCK
FUTURES
33683.57 33919.29 (235.72) 1503728 100002.69 (2.79)
STOCK
OPTIONS
1774.25 1661.23 113.02
40865 2287.36 (20.37)
Total 208229.41
207798.64
430.77
2403856
176445.85
(1.58)
Turnover on
December
24
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
272212 22201.21 9.70
INDEX
OPTIONS
12128243 899539.20 9.60
STOCK
FUTURES
1746039 107918.25 0.73
STOCK
OPTIONS
806677 51229.79 -14.39
TOTAL 1,49,53,171
1080888.45 7.23
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12200 53.05
45.40 54.60 12245.40
Sell 12300 7.65
Buy 12200 53.05
51.90 148.10 12251.90
Sell 12400 1.15
Buy 12300 7.65
6.50 93.50 12306.50
Sell 12400 1.15
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12200 15.05
11.85 88.15 12188.15
Sell 12100 3.20
Buy 12200 15.05
13.15 186.85 12186.85
Sell 12000 1.90
Buy 12100 3.20
1.30 98.70 12098.70
Sell 12000 1.90
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 26, 2019
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 363 366
369 372 375
ASIANPAINT 1,783 1,793
1,810 1,820 1,836
AXISBANK 734 737
741 744 748
BAJAJ-AUTO 3,198 3,211
3,223 3,236 3,248
BAJFINANCE 4,094 4,117
4,149 4,172 4,204
BAJAJFINSV 9,216 9,255
9,292 9,331 9,367
BPCL 459 468
481 491 504
BHARTIARTL 449 453
457 461 464
INFRATEL 250 253
255 258 261
BRITANNIA 3,066 3,079
3,097 3,109 3,127
CIPLA 460 468
474 483 489
COALINDIA 196 197
198 199 201
DRREDDY 2,867 2,882
2,900 2,915 2,933
EICHERMOT 21,355 21,612
22,021 22,278 22,687
GAIL 118 119
120 121 122
GRASIM 730 734
742 746 753
HCLTECH 551 556
564 569 578
HDFCBANK 1,279 1,284
1,293 1,298 1,307
HDFC 2,378 2,395
2,420 2,437 2,462
HEROMOTOCO 2,404 2,418
2,433 2,448 2,463
HINDALCO 213 215
217 218 220
HINDUNILVR 1,926 1,936
1,951 1,961 1,975
ICICIBANK 537 539
541 544 546
IOC 125 126
127 129 130
INDUSINDBK 1,477 1,497
1,514 1,534 1,551
INFY 724 729
733 737 742
ITC 237 238
239 240 241
JSW STEEL 261 264
266 269 271
KOTAKBANK 1,693 1,702
1,709 1,719 1,726
LT 1,285 1,293
1,306 1,314 1,327
M&M 522 525
529 531 535
MARUTI 7,227 7,273
7,348 7,394 7,470
NESTLEIND 14,396 14,491
14,557 14,652 14,718
NTPC 114 114
115 116 116
ONGC 124 125
126 127 128
POWERGRID 185 186
187 188 189
RELIANCE 1,524 1,535
1,554 1,565 1,583
SBIN 327 329
332 334 337
SUNPHARMA 422 426
429 433 436
TCS 2,191 2,203
2,223 2,236 2,256
TATAMOTORS 173 174
176 177 179
TATASTEEL 457 460
462 465 468
TECHM 762 767
773 777 783
TITAN 1,188 1,196
1,209 1,217 1,230
ULTRACEMCO 4,049 4,073
4,098 4,122 4,147
UPL 558 563
573 579 588
VEDANTA 146 147
148 149 150
WIPRO 250 251
252 254 255
YESBANK 49 50
51 52 53
ZEEL 288 292
298 302 307
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Technical & Derivatives Report
December 26, 2019
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cs[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]elbroking.com
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