Technical & Derivatives Report
May 27, 2019
Sensex (39435) / Nifty (11844)
Exhibit 1: Nifty Daily Chart
It was a splendid week for our market and the kind of comeback
we made, is quite remarkable. Importantly, the global markets
had no influence over it as the rally was mainly led by the
domestic factors. This all started with a massive bump up at the
opening on Monday after exit polls indicating the BJP led NDA
government back in power with thumping majority. This was
followed by couple of muted sessions ahead of the final verdict.
On the actual day, we saw tremendous optimism to reach yet
another milestone of 12000 as the counting finally validated the
exit poll numbers. However, index suddenly took a nosedive and
before anyone could realize, we were well off highs. Fortunately,
the concluding session brought back cheerful mood across the
board to reclaim the 11800 mark.
Practically speaking, only the first and the last day of the week
Last week we had clearly stated about the ‘Midcap’ index which
had some notable development. On the event day, there was
was in a last phase of its time as well as price wise correction.
massive volatility with wild swings being witnessed. We are back
We have already seen a good leap from lows and expect further
to comfortable zone now; courtesy to Friday’s spectacular
legs to unfold, which will eventually bring back the wider smile
upsurge. This move was crucial for our market as it negated the
on many traders’/ investors’ faces. Going ahead, we may not
possibility of forming a ‘Shooting Star’ pattern on weekly chart,
see the similar kind of outperformance from previous index
which would have probably turned ominous if we had a close
drivers and the focus is now likely to shift on mid and small cap
below 11750 - 11700. But as we generally say ‘All’s well that
universe as we expect the party to begin after a long
ends well’. Going ahead, Monday’s gap area of 11591.70 -
underperformance
11426.15 is now likely to act as a sheet anchor and we do not
expect Nifty to go below this in the near future. Since, we have
confirmed a breakout on ‘Line chart’ in weekly time frame, we
Key Levels
expect Nifty to reach and even go beyond the 12000 mark quite
Support 1 - 11750
Resistance 1 -
11883
soon.
Support 2 - 11700
Resistance 2 -
12000
Nifty Bank Outlook - (31212)
Exhibit 2: Nifty Bank Daily Chart
Post the sell-off seen on Thursday, the Nifty Bank index opened
gap up in Friday's session. The index then rallied higher
throughout the day to end the week at its all time closing high.
Although the index witnessed significant volatility during last
week, it resumed positive momentum on the last trading session
and ended the week with gains of about 6 percent. Although we
had earlier expected some more correction before resuming its
uptrend, the large candle on the weekly charts and the
participation of most of the stocks from the sector indicates
resumption of the broader degree uptrend. Traders are hence
advised to trade in the direction of the trend. The near term
supports are placed in the range of 30900 - 30800 whereas
resistances are seen around 31705 (last week's high) and 32000.
Key Levels
Support 1 - 30900
Resistance 1 -
31705
Support 2 - 30800
Resistance 2 -
32000
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Technical & Derivatives Report
May 27, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.68%.
Bank Nifty futures open interest has increased by 15.49%
as market closed at 11844.10 levels.
The Nifty May future closed with a premium of 25.30
points against a premium of 35.35 points in last trading
session. The June series closed at a premium of 62.55
points.
The INDIA VIX has decreased from 19.40 to 16.46.
At the same time, the PCR-OI of Nifty has increased from
0.85 to 1.23.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, SOUTHBANK, RPOWER, NHPC
and CGPOWER.
Views
OI Gainers
We certainly had a roller-coaster ride last week, the
OI
PRICE
benchmark index opened with an upside gap as exit poll
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
results were in favor of BJP. We saw strong move on
MANAPPURAM
11274000
22.89
138.20
8.06
Monday which was followed by profit booking. On
BATAINDIA
2156000
20.13
1339.75
-1.88
Thursday, Nifty registered a fresh record high and
BALKRISIND
2597600
19.99
798.20
3.39
surpassed the magical figure of 12000; however, these
CEATLTD
910400
18.17
1040.10
5.87
gains were short lived as good amount of profit booking
KAJARIACER
1771900
17.20
600.90
-2.21
was seen thereafter to correct towards 11600 mark.
BERGEPAINT
1795200
16.41
310.50
1.04
Finally, some respite from the support zone of 11550-
CONCOR
2300736
15.54
505.55
3.03
11600 on the final day of the week led closing tad above
RAYMOND
2994400
14.99
852.20
6.80
11800 mark.
FII’s were net buyers in the equity segment to the tune of
Rs.2026 crores. In index futures front, they were
OI Losers
marginal sellers with good amount of rise in open
OI
PRICE
SCRIP
OI
PRICE
interest, indicating blend of long and short formation.
CHG. (%)
CHG. (%)
In index options front, they bought significantly of
CGPOWER
19428000
-8.63
39.20
2.87
Rs. 3013 crores with marginal change in OI. In call
VEDL
34804700
-7.38
163.90
4.48
options, we saw good amount of unwinding in OTM
DABUR
12650000
-6.76
399.05
3.61
strikes of
12000-12500. On the other hand, we
BIOCON
8147700
-6.53
534.60
4.42
witnessed decent writing in 11400-11800 puts.
ESCORTS
5227200
-6.09
634.90
5.04
The correction seen was mainly due to profit booking,
CHENNPETRO
1087200
-5.33
217.95
4.47
good amount of long formed earlier are still intact in the
MRF
31970
-4.40
57009.30
3.98
system. Looking at the sharp recovery on Friday and
OIL
6441105
-4.34
184.30
0.14
options activity, we expect further upside towards 12000
going ahead.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
MANAPPURAM
53.18
NIFTY
1.23
0.74
INDIACEM
81.61
BANKNIFTY
1.11
0.91
RAYMOND
47.59
RELIANCE
0.41
0.54
MRF
28.86
ICICIBANK
0.87
0.70
APOLLOTYRE
47.04
INFY
0.70
0.44
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Technical & Derivatives Report
May 27, 2019
FII Statistics for May 24, 2019
Turnover on May 24, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
5862.19
5871.47
(9.28)
318112
26131.40
12.69
434994
32637.47
-46.63
FUTURES
FUTURES
INDEX
INDEX
188471.70
185458.96
3012.74
885616
73372.78
0.10
11247591
817960.60
-65.34
OPTIONS
OPTIONS
STOCK
17014.31
17379.00
(364.69)
1510526
92365.26
(0.54)
STOCK
FUTURES
1162333
67798.17
-17.04
FUTURES
STOCK
STOCK
8534.36
8493.64
40.71
143392
8519.08
(3.41)
1022236
62761.54
-20.29
OPTIONS
OPTIONS
Total
219882.55
217203.06
2679.49
2857646
200388.51
0.82
TOTAL
732838
2568108
-61.99
Nifty Spot = 11844.10
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11900
71.75
Buy
11800
57.60
33.25
66.75
11933.25
24.15
75.85
11775.85
Sell
12000
38.50
Sell
11700
33.45
Buy
11900
71.75
Buy
11800
57.60
53.25
146.75
11953.25
37.65
162.35
11762.35
Sell
12100
18.50
Sell
11600
19.95
Buy
12000
38.50
Buy
11700
33.45
20.00
80.00
12020.00
13.50
86.50
11686.50
Sell
12100
18.50
Sell
11600
19.95
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
May 27, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
393
402
408
417
424
ASIANPAINT
1,363
1,374
1,387
1,398
1,411
AXISBANK
772
783
789
800
807
BAJAJ-AUTO
2,967
3,022
3,061
3,116
3,155
BAJFINANCE
3,361
3,414
3,445
3,498
3,528
BAJAJFINSV
7,925
8,038
8,112
8,225
8,298
BPCL
382
389
394
401
406
BHARTIARTL
334
343
350
359
366
INFRATEL
265
271
276
282
286
BRITANNIA
2,783
2,817
2,842
2,876
2,901
CIPLA
554
563
568
576
581
COALINDIA
240
242
244
247
249
DRREDDY
2,607
2,635
2,655
2,683
2,702
EICHERMOT
20,052
20,451
20,749
21,149
21,447
GAIL
332
337
340
344
347
GRASIM
864
887
901
924
937
HCLTECH
1,045
1,055
1,065
1,075
1,085
HDFCBANK
2,321
2,347
2,367
2,393
2,413
HDFC
2,067
2,095
2,123
2,152
2,180
HEROMOTOCO
2,713
2,771
2,808
2,866
2,903
HINDALCO
188
192
194
198
201
HINDUNILVR
1,713
1,731
1,746
1,764
1,778
IBULHSGFIN
764
779
789
804
814
ICICIBANK
405
418
426
439
447
IOC
151
154
157
160
163
INDUSINDBK
1,570
1,609
1,634
1,673
1,698
INFY
696
703
707
714
718
ITC
285
288
290
292
294
JSW STEEL
266
277
284
295
302
KOTAKBANK
1,475
1,493
1,509
1,527
1,543
LT
1,469
1,507
1,528
1,565
1,587
M&M
627
646
657
676
687
MARUTI
6,800
6,947
7,033
7,180
7,267
NTPC
127
128
130
131
132
ONGC
166
170
173
177
180
POWERGRID
183
184
185
187
188
RELIANCE
1,298
1,318
1,336
1,355
1,373
SBIN
338
347
352
360
365
SUNPHARMA
409
412
415
419
421
TCS
2,012
2,030
2,050
2,068
2,088
TATAMOTORS
168
171
177
181
187
TATASTEEL
172
177
180
185
189
TECHM
721
729
739
746
757
TITAN
1,179
1,200
1,215
1,235
1,250
ULTRACEMCO
4,602
4,701
4,759
4,859
4,917
UPL
1,007
1,014
1,019
1,026
1,031
VEDANTA
152
158
161
167
170
WIPRO
278
281
282
285
287
YESBANK
138
140
141
143
145
ZEEL
346
362
371
386
396
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Technical & Derivatives Report
May 27, 2019
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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