Technical & Derivatives Report
March 28, 2019
Sensex (38133) / Nifty (11445)
Exhibit 1: Nifty Daily Chart
Tuesday’s smart rally was followed by a decent bump up at the
opening yesterday. Throughout the first half, index consolidated
well above the 11500 mark; however, post the midsession, there
was sudden nosedive seen across the board. The selling pressure
was so intense; a valiant attempt to reclaim 11500 got sold into.
Eventually, a volatile day ahead of the derivatives expiry ended
with a cut of three tenths of a percent.
In the initial trade, our benchmark index along with the Bank
Nifty was all set to have similar kind of session as we witnessed
on Tuesday. But, market is always superior and hence, the
moment most of the traders became gung ho of the trend, it
showed its supremacy. Now, as far as direction is concerned,
there is still no reason to worry for. We continue with our
optimistic stance and sooner or later, expect the index to head
towards its record high. For the coming session, 11500 followed
by 11546 has become a sturdy wall now and on the flipside, we
do not expect the Nifty to breach and sustain below the
sacrosanct level of 11400. The pragmatic approach for the expiry
day would be to keep a close eye on above mentioned levels and
one should keep following stock specific moves.
Yesterday, in the initial hour, bank nifty as well as midcap index
were on a roll; but we saw this exuberance getting fizzled out in
the latter half. Nevertheless, the undertone still remains bullish
and we expect the outperformance to continue from both these
pockets in days to come.
Key Levels
Support 1 - 11413
Resistance 1 -
11500
Support 2 - 11400
Resistance 2 -
11546
Nifty Bank Outlook - (30020)
Exhibit 2: Nifty Bank Daily Chart
Post the sharp upmove on Tuesday, the Nifty Bank index
opened gap up in yesterday's session and continued the
momentum during the first half of the trade. However, in the last
couple of hours, the volatility increased significantly as the index
first corrected sharply below 29800 and then recovered again to
end the day tad above 30000. In yesterday's session, the index
oscillated in the range of about 470 points but ended the day
near its opening levels. This has led to the formation of a 'Long
Legged Doji' candlestick on the daily chart. Also, yesterday's high
coincides around the 127% retracement of the recent corrective
move. This pattern indicates indecision amidst a 'tug of war'
between the bulls and bears and thus, yesterday's high and low
could play a pivotal role in determining near term trend. As of
now, the trend continues to be positive, but traders can keep a
stop loss below 29790 and take money off the table if the same is
breached. On the flipside, a move above 30263 will lead to a
continuation of the uptrend for the target zone around 30530.
Key Levels
Support 1 - 29855
Resistance 1 -
30156
Support 2 - 29790
Resistance 2 -
30263
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Technical & Derivatives Report
March 28, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.37%.
Bank Nifty futures open interest has decreased by 6.51%
as market closed at 11445.05 levels.
The Nifty March future closed with a premium of 13.05
points against a premium of 27.45 points in last trading
session. The April series closed at a premium of 92.65
points.
The INDIA VIX has increased from 16.48 to 17.04.
At the same time, the PCR-OI of Nifty has decreased
from 1.64 to 1.49.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, GMRINFRA, INFIBEAM,
AMARAJABAT and CGPOWER.
Views
After smart recovery on Tuesday, we started off
yesterday’s session on a positive note, which was
OI Gainers
followed by some consolidation. However, we witnessed
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
sudden profit booking to drag index towards 11400.
AMARAJABAT
1665300
50.86
721.40
1.71
Eventually, due to some recovery index concluded the
RAMCOCEM
1502400
14.86
711.15
-0.27
session with a cut of 0.33%
SIEMENS
2017950
11.22
1064.75
0.35
FIIs continued their buying in equities; they bought to the
L&TFH
19921500
11.20
151.50
2.84
tune of Rs. 1481 crores. In index futures segment, they
BIOCON
6293700
10.81
602.30
-1.70
bought of Rs. 1508 crores with rise in open interest,
MCDOWELL-N
12513750
10.39
539.95
-1.62
suggesting fresh long formation in previous session.
POWERGRID
20848000
9.66
200.20
-1.62
As far as Nifty options activities are concerned,
we saw fresh writing in 11450-11600 call options. On
NMDC
15228000
9.63
101.65
-2.67
the flip side, decent unwinding took place in OTM strikes
of
11000-11500. Now, the maximum open interest
OI Losers
concentration stands at 11600 call & 11000 put options.
OI
PRICE
In March series, we witnessed good amount of longs and
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
looking at the rollovers it seems these positions are being
NHPC
27810000
-32.01
24.65
-1.00
rolled too. Hence, in short term we remain optimistic.
ICICIPRULI
11061000
-30.14
349.20
8.19
However, in yesterday’s profit booking we saw put writers
JPASSOCIAT
43615000
-24.62
5.40
-3.57
of
11000-115000 unwinding their shorts expecting
PVR
698000
-15.25
1606.00
2.32
further profit booking on the expiry day. In addition,
CGPOWER
37956000
-15.18
42.75
-2.28
good amount writing took place in OTM call strikes. For
ORIENTBANK
16828000
-14.69
114.55
4.30
today, 11400 is an immediate support zone; whereas,
JETAIRWAYS
6314000
-13.74
276.65
1.27
11500-11550 shall act as a hurdle.
RELINFRA
10923900
-12.90
130.95
-1.91
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ICICIPRULI
58.55
NIFTY
1.49
1.02
INDUSINDBK
38.30
BANKNIFTY
1.15
0.94
DABUR
28.84
RELIANCE
0.76
0.70
BHARATFIN
35.05
ICICIBANK
0.74
0.45
MGL
31.77
INFY
0.92
0.52
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Technical & Derivatives Report
March 28, 2019
FII Statistics for March 27, 2019
Turnover on March 27, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
8832.42
7323.88
1508.54
366199
29684.48
2.09
544194
39608.00
21.88
FUTURES
FUTURES
INDEX
INDEX
331342.70
333546.75
(2204.05)
1189724
92879.32
3.54
21891092
1488579.97
55.59
OPTIONS
OPTIONS
STOCK
29992.45
29701.39
291.06
1582504
101439.98
0.07
STOCK
FUTURES
1812934
113695.58
-3.35
FUTURES
STOCK
STOCK
7513.06
7670.39
(157.33)
141886
9220.00
(2.42)
1197560
78452.97
22.07
OPTIONS
OPTIONS
Total
377680.64
378242.41
(561.78)
3280313
233223.77
1.42
TOTAL
74455
700968
46.89
Nifty Spot = 11445.05
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11500
18.00
Buy
11500
60.85
14.30
85.70
11514.30
46.70
53.30
11453.30
Sell
11600
3.70
Sell
11400
14.15
Buy
11500
18.00
Buy
11500
60.85
16.80
183.20
11516.80
57.35
142.65
11442.65
Sell
11700
1.20
Sell
11300
3.50
Buy
11600
3.70
Buy
11400
14.15
2.50
97.50
11602.50
10.65
89.35
11389.35
Sell
11700
1.20
Sell
11300
3.50
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 28, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
360
363
367
371
375
ASIANPAINT
1,444
1,458
1,478
1,492
1,511
AXISBANK
748
753
762
768
776
BAJAJ-AUTO
2,930
2,955
2,975
3,000
3,020
BAJFINANCE
2,882
2,914
2,964
2,995
3,046
BAJAJFINSV
6,876
6,928
7,004
7,056
7,131
BPCL
372
376
381
384
389
BHARTIARTL
313
318
325
330
338
INFRATEL
308
312
315
319
323
CIPLA
518
522
528
531
537
COALINDIA
231
233
235
237
240
DRREDDY
2,704
2,735
2,774
2,805
2,844
EICHERMOT
20,476
20,725
21,105
21,354
21,734
GAIL
350
353
357
360
365
GRASIM
813
821
833
840
852
HCLTECH
1,003
1,023
1,040
1,060
1,076
HDFCBANK
2,253
2,276
2,302
2,325
2,351
HDFC
1,875
1,898
1,928
1,951
1,981
HEROMOTOCO
2,498
2,521
2,557
2,580
2,616
HINDALCO
204
206
208
210
213
HINDPETRO
263
266
272
275
280
HINDUNILVR
1,655
1,668
1,688
1,701
1,721
IBULHSGFIN
718
734
747
763
776
ICICIBANK
386
389
394
398
402
IOC
159
160
162
163
165
INDUSINDBK
1,686
1,745
1,779
1,838
1,873
INFY
725
727
730
732
735
ITC
289
291
294
296
299
JSW STEEL
278
283
286
291
294
KOTAKBANK
1,302
1,317
1,341
1,356
1,379
LT
1,346
1,356
1,374
1,384
1,402
M&M
650
655
664
669
678
MARUTI
6,413
6,465
6,553
6,605
6,693
NTPC
133
135
138
140
143
ONGC
156
158
160
162
164
POWERGRID
195
198
201
204
207
RELIANCE
1,323
1,336
1,357
1,370
1,391
SBIN
302
305
308
312
315
SUNPHARMA
450
457
467
475
485
TCS
1,939
1,953
1,976
1,990
2,013
TATAMOTORS
165
168
171
174
177
TATASTEEL
507
512
517
522
527
TECHM
755
760
767
771
778
TITAN
1,097
1,107
1,116
1,126
1,135
ULTRACEMCO
3,809
3,856
3,926
3,973
4,044
UPL
885
894
903
911
920
VEDANTA
172
173
175
177
179
WIPRO
252
253
255
256
258
YESBANK
251
260
265
274
279
ZEEL
414
419
423
428
433
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Technical & Derivatives Report
March 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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