Technical & Derivatives Report
January 28, 2019
Exhibit 1: Nifty Daily Chart
Sensex (36026) / Nifty (10780)
On Friday, Despite SGX Nifty suggesting a gap up opening, we
had a subdued start in our market. However, Nifty eventually
joined hands with its global peers and surged beyond the 10900
mark within a blink of an eye. This was followed by some
consolidation throughout the first half; however, all of a sudden
the selling aggravated post the midsession which continued
almost till the closing point. In the process, Nifty went on to
correct more than 150 points from the day’s high and nearly six
tenths of a percent from the previous close.
It was certainly one of the terrible days for our market in last few
weeks. Looking at the benchmark index, one would not get the
right picture. But if we meticulously observe some of the index
constituents, like, ‘Zee’ who had the biggest fall in last five years,
became the spoilsport. Apart from this, Automobile giant ‘Maruti’
continues with its disaster run, corrected more than 7% after
On the flipside, Friday’s high of 10931 has now become a key
posting dreadful set of numbers. There were few others stocks
hurdle for the bulls. If index has to regain any strength ahead
also had similar sort of correction and hence, eventually Nifty
of the Union Budget, this level needs to be surpassed
succumbed to this pressure to sneak below the 10800 mark.
convincingly to unfold the next leg of the rally. Till then it’s
Technically speaking, we are still hovering around the pullback
advisable to stay light and avoid taking undue risks.
zone of ‘Falling Trend Line’; but the way some of the stocks
corrected on Friday, certainly does not bode well for the bulls. As
far as levels are concerned, 10750 followed by 10692 would be
Key Levels
seen as a crucial support zone. A sustainable move below this
Support 1 - 10750
Resistance 1 -
10840
would result into a sharp correction to test sub-10600 levels in
Support 2 - 10692
Resistance 2 -
10880
days to come.
Nifty Bank Outlook - (27115)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index traded with a positive bias in the first hour of
the trade on Friday. However, along with the broader markets,
the index corrected post 2.15 p.m. and ended the day with a loss
of about 150 points.
Post consolidating in a range, the index has breached its support
of 27180 and as closed below its '20 DEMA'. This certainly does
not bode well for short term and hence could lead to a correction.
If we observe the daily chart, the index had recently given a
breakdown from a 'Rising Wedge' pattern which we had
mentioned in our earlier reports. However, the index consolidated
in a range post-breakdown. Now, breach of the above-
mentioned support indicates a higher probability of follow-up
selling which could drag the index towards 26712 and 26460 in
the near term. Thus, traders are advised to stay light and avoid
bottom fishing. Friday's high of 27434 would now be seen as a
key hurdle for the index.
Key Levels
Support 1 - 27000
Resistance 1 -
27250
Support 2 - 26925
Resistance 2 -
27434
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Technical & Derivatives Report
January 28, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.39%.
Bank Nifty futures open interest has increased by 1.53%
as market closed at 10780.55 levels.
The Nifty January future closed with a premium of 5.40
points against a premium of 18.80 points in last trading
session. The February series closed at a premium of
38.00 points.
The INDIA VIX has increased from 17.35 to 17.69.
At the same time, the PCR-OI of Nifty has decreased
from 1.44 to 1.37.
Few of the liquid counters where we have seen high cost
of carry are DISHTV, SUZLON, JPASSOCIAT, M&MFIN
and CASTROLIND.
Views
OI Gainers
Last week, the benchmark index rallied almost towards
OI
PRICE
SCRIP
OI
PRICE
11000 mark but couldn’t sustain at these higher levels.
CHG. (%)
CHG. (%)
We saw decent selling pressure thereafter to bring index
ZEEL
23990200
49.53
318.40
-26.61
towards the support zone of 10750-10800.
KPIT
3273750
26.96
112.40
-12.86
FIIs were net buyers in cash market segment to the tune
DISHTV
79360000
17.86
22.40
-32.79
of Rs. 689 crores. In index futures segment, they bought
TORNTPOWER
2484000
16.29
251.40
-2.73
of Rs. 1208 crores with some rise in open interest,
CHENNPETRO
1720800
15.32
256.75
-2.88
indicating long formation in previous trading session.
APOLLOTYRE
11628000
15.25
210.75
-3.04
In F&O space, the overall OI activity in Nifty futures was
INFIBEAM
18544000
14.78
42.40
-6.20
subdued; whereas, short formation was seen in
MARUTI
3045300
13.35
6513.40
-7.62
BankNifty. Meanwhile, some build-up was seen in 10800
and 10900 call options. On the flip side, put writers of
10500-11000 ran for shelter seeing Friday’s sharp fall.
OI Losers
At present, 11000 call and 10800 put options are
OI
PRICE
SCRIP
OI
PRICE
attracting trader’s attention.
CHG. (%)
CHG. (%)
MANAPPURAM
10044000
-10.24
98.85
-0.25
During the week, the open interest activity in Nifty futures
JUBLFOOD
4322500
-10.08
1197.85
1.17
remained muted. In options front, decent writing took
INDIGO
2905200
-9.63
1161.75
-1.13
place in ATM call options along with unwinding in OTM
DCBBANK
3681000
-9.41
180.40
-0.88
puts; this is certainly not an encouraging signs for Bulls.
At present, 10700-10750 is an immediate support zone
SRF
733500
-9.11
2076.35
-1.06
for Nifty. As we have concluded the week near these
PTC
5560000
-7.95
85.70
-0.12
support zones; hence, we would advise traders to wait for
BIOCON
5379300
-7.93
664.70
-0.97
the follow-up move in the coming week before initiating
NIITTECH
1871250
-7.90
1294.70
-0.50
any direction trades. It’s advisable to adopt stock specific
approach for the time being.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ZEEL
149.09
NIFTY
1.37
0.99
DISHTV
196.70
BANKNIFTY
1.03
0.95
KPIT
73.68
RELIANCE
1.07
0.85
ULTRACEMCO
43.20
ICICIBANK
0.59
0.98
MARUTI
44.88
INFY
1.04
0.56
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Technical & Derivatives Report
January 28, 2019
FII Statistics for January 25, 2019
Turnover on January 25, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4502.89
3294.51
1208.38
481664
37663.78
0.92
319584
22546.25
33.24
FUTURES
FUTURES
INDEX
INDEX
89961.96
89527.28
434.68
958439
71790.27
1.88
8508171
553832.04
-63.42
OPTIONS
OPTIONS
STOCK
17952.60
18246.79
(294.19)
1458761
87346.21
1.29
STOCK
FUTURES
1234933
69077.75
37.27
FUTURES
STOCK
STOCK
11403.17
11728.69
(325.52)
203024
11648.17
2.60
1392300
78600.90
29.87
OPTIONS
OPTIONS
Total
123820.63
122797.28
1023.35
3101888
208448.43
1.50
TOTAL
74455
700968
-55.90
Nifty Spot = 10780.55
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10800
74.00
Buy
10800
92.10
37.80
62.20
10837.80
38.20
61.80
10761.80
Sell
10900
36.20
Sell
10700
53.90
Buy
10800
74.00
Buy
10800
92.10
57.95
142.05
10857.95
61.85
138.15
10738.15
Sell
11000
16.05
Sell
10600
30.25
Buy
10900
36.20
Buy
10700
53.90
20.15
79.85
10920.15
23.65
76.35
10676.35
Sell
11000
16.05
Sell
10600
30.25
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 28, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
365
369
377
381
388
ASIANPAINT
1,319
1,346
1,380
1,406
1,440
AXISBANK
659
664
671
676
682
BAJAJ-AUTO
2,580
2,603
2,637
2,661
2,695
BAJFINANCE
2,539
2,569
2,615
2,645
2,691
BAJAJFINSV
6,170
6,246
6,363
6,439
6,556
BPCL
352
355
358
360
363
BHARTIARTL
297
302
307
312
317
INFRATEL
257
268
275
287
294
CIPLA
499
503
506
510
513
COALINDIA
216
219
222
225
229
DRREDDY
2,624
2,648
2,670
2,694
2,715
EICHERMOT
19,572
19,811
20,074
20,313
20,577
GAIL
328
331
334
338
341
GRASIM
733
746
770
784
808
HCLTECH
934
952
964
981
993
HDFCBANK
2,079
2,087
2,099
2,107
2,119
HDFC
1,949
1,964
1,978
1,993
2,007
HEROMOTOCO
2,568
2,619
2,704
2,755
2,840
HINDALCO
201
202
205
207
210
HINDPETRO
236
239
244
247
251
HINDUNILVR
1,733
1,745
1,762
1,774
1,791
IBULHSGFIN
697
721
757
781
817
ICICIBANK
349
353
359
363
369
IOC
136
137
138
139
140
INDUSINDBK
1,458
1,471
1,492
1,505
1,526
INFY
717
724
731
737
744
ITC
276
278
280
282
284
JSW STEEL
266
270
278
282
290
KOTAKBANK
1,242
1,254
1,271
1,283
1,300
LT
1,261
1,273
1,294
1,306
1,326
M&M
667
675
689
698
712
MARUTI
5,962
6,238
6,685
6,961
7,408
NTPC
136
137
139
141
143
ONGC
140
141
143
144
146
POWERGRID
183
184
187
188
191
RELIANCE
1,219
1,233
1,249
1,262
1,278
SBIN
279
282
287
290
294
SUNPHARMA
413
418
424
428
434
TCS
1,885
1,903
1,919
1,937
1,953
TATAMOTORS
168
171
175
177
182
TATASTEEL
442
447
457
462
471
TECHM
718
724
729
735
741
TITAN
962
970
977
985
992
ULTRACEMCO
3,277
3,394
3,597
3,714
3,917
UPL
736
744
756
764
776
VEDANTA
191
193
195
197
198
WIPRO
343
348
353
359
364
YESBANK
201
210
228
237
255
ZEEL
198
258
349
409
500
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Technical & Derivatives Report
January 28, 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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