Technical & Derivatives Report
September 27, 2018
Sensex (36542) / Nifty (11054)
Exhibit 1: Nifty Daily Chart
Tuesday’s massive recovery was followed by a gap up opening,
which was very much on cards after index reclaiming the 11000
mark due to last hour’s tail end recovery on Tuesday. However,
yesterday’s bump up in the initial trades became merely a
formality as we witnessed nosedive right from the word go. In
fact, the selling aggravated in the first half; resulting into a
decline towards 11000. But the second half once again was a bit
kind on the market and hence, Nifty managed to recover from
lows to conclude the session with negligible loss.
It seems that post the recent correction and some recovery, the
index has now slipped into a consolidation mode; but clearly the
range has broadened since the fear index (India VIX) has spiked
up at six-month high. Today being the expiry day, we may once
again see some tussle between both the counterparties (bulls and
bears). The resistance would now be seen at 11092 - 11145;
whereas, the immediate psychological support remains at 10993.
It would be important to see how index behaves in the first half
today and hence, at this juncture, it’s advisable to keep focusing
on individual stocks. It would be a prudent strategy not to trade
aggressively as the markets have turned volatile and hence, it’s
important to adopt a proper exit strategy as well.
Yesterday’s move in most of the ‘Metal’ pack was quite
encouraging and recently, we have been quite vocal on the fact
that the ‘Metal’ universe may outperform the broader market for
a while. We continue with this stance and hence, traders can
focus on such potential candidates within the basket.
Key Levels
Support 1 - 10993
Resistance 1 -
11092
Support 2 - 10960
Resistance 2 -
11145
Nifty Bank Outlook - (25376)
Exhibit 2: Nifty Bank Daily Chart
Following the positive global cues, the Nifty Bank index opened
gap up yesterday, continuing the positive momentum seen in the
last hour of trade on Tuesday. However, there was no follow up
buying seen and the index gave up the opening gains. The index
then traded in a range throughout the session and ended the day
marginally positive.
The up move seen in the last couple of sessions just seem to be a
pullback move as the momentum readings were in oversold zone
post the recent sharp sell-off. The trend continues to be negative
and hence, traders are still advised to avoid any contra trade in
this sector. Being an F&O expiry day, there could be higher
volatility in stocks. The intraday supports for the index are placed
around 25138 and 24870 whereas resistance are seen around
25600 and 25725.
Key Levels
Support 1 - 25138
Resistance 1 -
25600
Support 2 - 24870
Resistance 2 - 25725
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Technical & Derivatives Report
September 27, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.73%
Bank Nifty futures open interest has decreased by 9.20%
as market closed at 11053.80 levels.
The Nifty September future closed with a premium of
8.65 points against a premium of 19.25 points in last
trading session. The October series closed at a premium
of 56.75 points.
The INDIA VIX has increased from 16.68 to 17.08.
At the same time, the PCR-OI of Nifty has decreased
from 1.13 to 1.09.
Few of the liquid counters where we have seen high cost
of carry are IFCI, CUMMINSIND, ASHOKLEY,
BOSCHLTD and VOLTAS.
Views
FIIs were net sellers in cash market segment to the tune
of Rs. 810 crores. At the same time, they bought worth
OI Gainers
Rs. 279 crores in index futures with rise in open interest,
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating formation of fresh longs in yesterday’s trading
OFSS
516000
32.10
3960.65
-3.97
session
CUMMINSIND
1341900
21.33
692.45
-0.11
In options front, they bought worth Rs. 1179 crores with
ASIANPAINT
6786600
18.04
1282.00
-0.82
rise in open interest. As far as Nifty options activities are
TATAELXSI
2076800
16.46
1186.85
-3.83
considered, we saw fresh OI additions in 11050-11300
VEDL
60392500
16.17
241.55
4.51
call option; followed by unwinding in 11000 and 11400-
NIITTECH
1603500
14.95
1167.60
-3.88
11500 strikes. On the flip side, we saw some build-up in
GMRINFRA
270000000
13.53
17.55
3.86
10900 and 10950 put option; followed by unwinding in
the 11100-11600 strikes. Maximum open interest for
IFCI
75350000
12.04
12.85
2.38
September series is placed at 11200 call and 11000 put
options.
OI Losers
Once again we witnessed selling pressure post strong
OI
PRICE
opening; however, some recovering in the second fall led
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
closing with marginal loss. Despite being a volatile
BALRAMCHIN
4186000
-47.17
77.85
-5.53
series, we hardly saw any meaningful open interest
ANDHRABANK
4797000
-37.14
30.25
-1.14
activity in index futures. It seems decent amount of longs
JUSTDIAL
2667000
-25.88
506.05
2.26
have been lightened up resulting rollovers being on the
DHFL
16734000
-17.75
305.45
1.61
lower side one day ahead of the expiry. At present,
OIL
3596142
-14.05
218.40
-0.73
11000 is an important psychological levels for the
BEML
1993000
-13.69
661.20
2.66
benchmark index; whereas,
11200 may act as
DCBBANK
5179500
-13.33
153.60
1.96
immediate hurdle. Traders are advised buying 11000
NHPC
27351000
-12.60
23.45
-0.42
call options on dips for today as we expect September
series to end above 11000 mark.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
KPIT
51.10
NIFTY
1.09
0.91
EXIDEIND
40.84
BANKNIFTY
0.74
0.83
BEL
78.10
RELIANCE
0.62
0.64
WIPRO
22.81
ICICIBANK
0.50
0.58
UPL
51.44
INFY
0.55
0.60
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Technical & Derivatives Report
September 27, 2018
FII Statistics for September 26, 2018
Turnover on September 26, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
8821.97
8542.53
279.44
329927
27608.70
1.42
429878
38258.30
-26.16
FUTURES
FUTURES
INDEX
INDEX
178423.60
177244.63
1178.97
1133547
97623.12
3.88
10678476
997097.65
-10.38
OPTIONS
OPTIONS
STOCK
37353.14
36646.59
706.55
1309343
92932.39
0.45
STOCK
FUTURES
2049662
131737.21
0.50
FUTURES
STOCK
STOCK
6383.72
6466.97
(83.25)
140000
9556.10
(0.39)
887646
62807.70
-11.21
OPTIONS
OPTIONS
Total
230982.43
228900.72
2081.71
2912817
227720.31
1.83
TOTAL
14045662
1229900.86
-9.98
Nifty Spot = 11053.80
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11000
85.65
Buy
11000
26.55
57.40
42.60
11057.40
17.30
82.70
10982.70
Sell
11100
28.25
Sell
10900
9.25
Buy
11000
85.65
Buy
11000
26.55
80.55
119.45
11080.55
23.05
176.95
10976.95
Sell
11200
5.10
Sell
10800
3.50
Buy
11100
28.25
Buy
10900
9.25
23.15
76.85
11123.15
5.75
94.25
10894.25
Sell
11200
5.10
Sell
10800
3.50
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
September 27, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
324
331
338
345
352
ASIANPAINT
1,257
1,270
1,287
1,299
1,316
AXISBANK
606
612
618
624
630
BAJAJ-AUTO
2,710
2,742
2,775
2,807
2,840
BAJFINANCE
2,263
2,289
2,322
2,348
2,380
BAJAJFINSV
6,129
6,171
6,230
6,272
6,331
BPCL
357
363
367
373
376
BHARTIARTL
353
357
361
365
369
INFRATEL
248
255
264
271
281
CIPLA
649
661
668
680
687
COALINDIA
266
270
273
276
280
DRREDDY
2,545
2,573
2,619
2,646
2,692
EICHERMOT
24,361
24,771
25,511
25,920
26,660
GAIL
364
370
376
381
387
GRASIM
1,026
1,036
1,043
1,052
1,059
HCLTECH
1,063
1,077
1,099
1,112
1,134
HDFCBANK
1,944
1,956
1,967
1,979
1,990
HDFC
1,726
1,747
1,777
1,797
1,827
HEROMOTOCO
3,056
3,078
3,109
3,131
3,162
HINDALCO
238
243
247
252
256
HINDPETRO
239
243
246
251
254
HINDUNILVR
1,568
1,590
1,619
1,641
1,670
IBULHSGFIN
892
946
984
1,038
1,077
ICICIBANK
301
307
311
317
321
IOC
150
152
154
156
158
INDUSINDBK
1,665
1,683
1,698
1,716
1,731
INFY
701
709
721
729
740
ITC
282
288
295
301
309
KOTAKBANK
1,146
1,158
1,173
1,185
1,200
LT
1,298
1,316
1,326
1,343
1,354
LUPIN
872
882
896
906
920
M&M
866
880
899
912
931
MARUTI
7,651
7,747
7,918
8,014
8,186
NTPC
163
165
168
171
174
ONGC
176
178
181
184
187
POWERGRID
186
189
192
195
197
RELIANCE
1,217
1,234
1,244
1,261
1,271
SBIN
256
260
267
271
278
SUNPHARMA
623
632
641
649
658
TCS
2,095
2,119
2,159
2,182
2,223
TATAMOTORS
222
228
235
241
249
TATASTEEL
591
600
607
616
623
TECHM
723
736
752
765
781
TITAN
794
805
812
822
830
ULTRACEMCO
3,987
4,027
4,065
4,105
4,142
UPL
634
666
685
717
737
VEDANTA
223
233
239
248
254
WIPRO
309
314
322
327
334
YESBANK
211
217
224
230
236
ZEEL
440
444
448
453
457
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Technical & Derivatives Report
September 27, 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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