Technical & Derivatives Report
November 27, 2018
Sensex (35354) / Nifty (10629)
Exhibit 1: Nifty Daily Chart
Yesterday morning, we had a perfect set up to kick start the
proceedings for the week on a cheerful note. The Crude oil
continued its losing streak, the domestic currency cooled off quite
a bit to reach the 70 mark and the global peers were trading on
an optimistic note. Despite all these favorable factors, we opened
higher but immediately started correcting to even sneak below
10500 in the first half. However, there was complete turnaround
seen in the latter half as we saw massive buying interest across
the board to clock smart rally with nearly a percent gains.
Technically speaking, if we look at the hourly chart, Nifty was
oscillating within the boundaries of a ‘Falling Wedge’ pattern.
Quite precisely, Nifty managed to find the support at the lower
end of this pattern (which coincided with our mentioned support
of 10500) and then went on to confirm a breakout from the
higher end i.e. 10580. The immediate impact of this price
development was seen during the session and going ahead, we
will not be surprised to see Nifty extending this move towards
10690 - 10740 levels. With yesterday’s move, the ambiguity
seems to have disappeared now. For the coming session, in case
of any decline towards 10600 - 10570, momentum traders are
advised to use this as a buying opportunity.
In our previous article, we had opined about banking index
playing a vital role. Yesterday, undoubtedly, the banking universe
was the charioteer of this stellar intraday rally. And the way it has
closed with lot of positivity, we expect banking space to propel
further rally in the market. Also, the buying was seen in the
broader market and thus, we expect traders to get better trading
opportunities with a short term view.
Key Levels
Support 1 - 10600
Resistance 1 -
10690
Support 2 - 10570
Resistance 2 -
10740
Nifty Bank Outlook - (26366)
Exhibit 2: Nifty Bank Daily Chart
Bank Nifty Index too witnessed a gap up opening to start the
proceedings of the trading week. Although the broader markets
were under pressure in the first few hours, the bank index
remained into the positive territory and showed outperformance.
In the second half, the Bank Index rallied higher and extended its
morning gains to eventually end with gains of around 1.40% tad
above 26350 levels. In our last few articles, we have been
mentioning the outperformance by the Banking Index and its
strong support in the vicinity of 25900-26000 levels. The Bank
Nifty Index after holding this support for the last few sessions have
bounced back sharply in yesterday’s session and has confirmed a
bullish range breakout on the hourly charts. Technically, we sense
the positive momentum to continue and the Index may extend its
up move towards 26600-26800 in the next few sessions. Hence
any dip towards 26240-26200 can be a buying opportunity.
Key Levels
Support 1 - 26240
Resistance 1 -
26600
Support 2 - 26200
Resistance 2 -
26800
www.angelbroking.com
Technical & Derivatives Report
November 27, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 4.61%.
Bank Nifty futures open interest has increased by 15.88%
as market closed at 10628.60 levels.
The Nifty November future closed with a premium of
10.60 points against a discount of 2.05 points in last
trading session. The December series closed at a
premium of 49.40 points.
The INDIA VIX has increased from 19.16 to 20.40.
At the same time, the PCR-OI of Nifty has increased from
1.46 to 1.64.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, JPASSOCIAT, ADANIPOWER,
ALBK and RAMCOCEM.
Views
FIIs activity in cash market segment remained subdued.
OI Gainers
In
index
futures
segment,
they
sold
of
OI
PRICE
Rs. 168 crores in index futures with good amount of rise
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
in open interest, indicating mixed positions were formed
ACC
1548800
23.04
1439.10
-1.25
in yesterday’s session.
IOC
47936000
18.26
136.95
-0.65
In options front, they bought of Rs. 1822 crores with
DCBBANK
6358500
15.63
155.65
-0.64
some fall in open interest. As far as Nifty options
COALINDIA
30230200
15.04
250.75
-1.95
activities are considered, we saw good amount of
TORNTPOWER
3921000
14.35
255.70
-1.72
unwinding in 10500-11000 call strikes. On the flip side,
JINDALSTEL
28129500
13.19
160.05
-4.61
huge positions were formed in
10400-10600 put
SIEMENS
3217050
12.92
913.25
-0.51
options. Now, Maximum open interest for November
NTPC
46836000
12.41
144.70
-0.82
series now stands at 11000 followed by 10700 call and
10500 followed by 10000 put options.
We started off the week on a positive note but due to
OI Losers
lack of momentum index corrected below 10500 mark.
OI
PRICE
SCRIP
OI
PRICE
In the latter half, we saw sharp recovery from the support
CHG. (%)
CHG. (%)
zone of 10450-10500 to conclude the session with the
HCC
13903659
-17.89
11.55
0.87
gains of nearby a percent. We saw addition of long
GRANULES
8775000
-17.53
90.55
-2.74
positions in Nifty as well as BankNifty. In addition, good
DALMIABHA
717600
-10.01
2380.90
-1.01
amount of writing also took place in 10500-10600 put
CIPLA
10338000
-6.65
522.10
0.99
strikes. Considering the above data points, we believe on
ICICIPRULI
3883100
-6.30
325.10
1.64
shall trade with a positive bias going ahead. Now,
COLPAL
1433600
-5.58
1199.45
4.10
yesterdays low shall be an immediate support; whereas,
BPCL
12929400
-5.22
327.35
1.89
the resistance is at 10700-10750.
SREINFRA
14306000
-5.20
33.40
-0.30
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
COLPAL
28.99
NIFTY
1.64
0.97
HEROMOTOCO
42.15
BANKNIFTY
1.34
1.00
HINDUNILVR
31.88
RELIANCE
0.55
0.63
PETRONET
36.91
ICICIBANK
0.67
0.52
HDFCBANK
21.37
INFY
0.63
0.58
www.angelbroking.com
Technical & Derivatives Report
November 27, 2018
FII Statistics for November 26, 2018
Turnover on November 26, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4680.02
4847.81
(167.79)
459747
35146.17
6.49
419490
28216.63
31.74
FUTURES
FUTURES
INDEX
INDEX
88832.54
87010.61
1821.93
1053228
76767.14
(0.27)
9944127
616715.60
-59.64
OPTIONS
OPTIONS
STOCK
24575.05
24099.84
475.21
1473795
85741.19
2.08
STOCK
FUTURES
1395090
77396.85
74.75
FUTURES
STOCK
STOCK
8739.18
8865.47
(126.29)
176312
10446.71
(0.08)
942470
53868.00
20.93
OPTIONS
OPTIONS
Total
126826.79
124823.73
2003.06
3163082
208101.22
1.77
TOTAL
74455
700968
-52.62
Nifty Spot = 10628.60
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10600
82.70
Buy
10600
43.55
51.75
48.25
10651.75
22.70
77.30
10577.30
Sell
10700
30.95
Sell
10500
20.85
Buy
10600
82.70
Buy
10600
43.55
74.35
125.65
10674.35
33.40
166.60
10566.60
Sell
10800
8.35
Sell
10400
10.15
Buy
10700
30.95
Buy
10500
20.85
22.60
77.40
10722.60
10.70
89.30
10489.30
Sell
10800
8.35
Sell
10400
10.15
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
www.angelbroking.com
Technical & Derivatives Report
November 27, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
351
360
365
374
380
ASIANPAINT
1,310
1,330
1,344
1,364
1,378
AXISBANK
609
620
627
638
646
BAJAJ-AUTO
2,543
2,596
2,629
2,683
2,716
BAJFINANCE
2,320
2,357
2,384
2,422
2,449
BAJAJFINSV
5,609
5,673
5,749
5,814
5,889
BPCL
318
323
328
332
337
BHARTIARTL
323
329
334
340
345
INFRATEL
253
258
263
268
273
CIPLA
509
515
520
526
531
COALINDIA
241
246
252
257
263
DRREDDY
2,456
2,507
2,573
2,624
2,689
EICHERMOT
23,126
23,487
23,988
24,349
24,849
GAIL
332
336
342
346
352
GRASIM
823
834
842
854
862
HCLTECH
947
974
990
1,017
1,033
HDFCBANK
1,998
2,024
2,038
2,064
2,078
HDFC
1,859
1,872
1,882
1,894
1,904
HEROMOTOCO
2,839
2,957
3,031
3,150
3,223
HINDALCO
211
215
218
221
224
HINDPETRO
239
243
248
252
257
HINDUNILVR
1,652
1,698
1,724
1,770
1,796
IBULHSGFIN
684
693
706
715
728
ICICIBANK
348
352
355
359
362
IOC
132
134
139
141
146
INDUSINDBK
1,519
1,541
1,554
1,576
1,590
INFY
588
605
616
633
645
ITC
279
282
284
288
290
JSW STEEL
306
312
318
323
329
KOTAKBANK
1,141
1,156
1,168
1,183
1,195
LT
1,401
1,411
1,421
1,431
1,441
M&M
732
740
747
756
763
MARUTI
7,316
7,435
7,507
7,626
7,697
NTPC
139
142
144
147
150
ONGC
140
143
148
152
157
POWERGRID
177
180
181
184
185
RELIANCE
1,088
1,099
1,108
1,119
1,128
SBIN
277
282
284
289
292
SUNPHARMA
493
502
515
524
537
TCS
1,755
1,800
1,830
1,876
1,906
TATAMOTORS
174
178
181
185
189
TATASTEEL
510
520
532
543
554
TECHM
660
677
688
705
716
TITAN
882
899
910
927
938
ULTRACEMCO
3,909
3,934
3,967
3,993
4,025
UPL
748
761
770
783
792
VEDANTA
187
191
196
200
205
WIPRO
296
307
314
325
331
YESBANK
178
183
187
193
197
ZEEL
452
457
463
468
475
www.angelbroking.com
Technical & Derivatives Report
November 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]
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company cove*ed by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify,
nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While
Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information.
www.angelbroking.com