Technical & Derivatives Report
May 28, 2018
Exhibit 1: Nifty Daily Chart
Sensex (34925) / Nifty (10605)
During the week gone by, our markets had a good roller-coaster
ride, which kept a lot of traders on their toes. First half looked
very ominous as we saw index sliding below the important
psychological level of 10500. Clearly, it was hard to believe we
would reclaim the10500 mark immediately on the following day
after seeing Wednesday’s massive sell off towards 10400. In fact,
the way Friday’s session panned out, many traders trapped in the
recent onslaught finally had something to cheer for. A good stock
specific relief rally towards the fag end of the week resulted into
reclaiming the 10600 mark.
Now, the biggest question is whether markets are done with the
correction or this is just a temporary bounce back? In our sense,
recently there was a massive stock specific destruction seen in the
market and in this course of action, so many individual counters
On the lower side, the immediate support is seen in the range of
entered an extreme oversold territory. Hence, some kind of
10560 - 10500; but if we have to take slightly broader view, we
breather was overdue in these names. Last couple of days rally
will not be surprised to see index retesting 10400 - 10300 levels.
was mainly a short covering move in these beaten down counters.
Further, it would be too early to take this call, but we believe that
It may continue also for a while but we believe that this is just a
the ‘Pharma’ sector is in process of bottoming out. Hence, one
short term breather and at higher levels index is likely to face
can look to accumulate marquee names within this space.
resistance in the zone of 10650 - 10720.
For the first half in this week, the ideal strategy would be to focus
Key Levels
on individual stocks and look to liquidate positions at higher
Support 1 - 10560
Resistance 1 - 10650
levels.
Support 2 - 10500
Resistance 2 - 10720
Nifty Bank Outlook - (26274)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index managed to find support
at its hourly '200 SMA' and it pulled back higher in last two
trading sessions to end with weekly gains of 1.54 percent. Within
this sector, PSU Banking index had shown positive divergence and
hence, we had anticipated a pullback move in this sector.
However, the velocity of upmove certainly amazed to an extent as
the Nifty PSU Bank index posted gains of over 11 percent in the
week. Although we have seen a broad participation in last couple
of sessions, we are unsure whether this move will surpass the
recent highs. Hence, we advise traders to trade ride the stock
specific momentum and trade with proper risk management. The
intraday supports for the Nifty Bank index are placed around
26000 and 25920 whereas resistances are seen around 26420
and 26560.
Key Levels
Support 1 - 26000
Resistance 1 - 26420
Support 2 - 25920
Resistance 2 - 26560
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Technical & Derivatives Report
May 28, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.22%
BankNifty futures open interest has decreased by 2.75%
as market closed at 10605.15 levels.
The Nifty May future closed with a discount of 2.75
points against a discount of 8.65 points in last trading
session. The June series closed at a premium of 0.65
points.
The INDIA VIX has decreased from 13.14 to 12.64. At
the same time, the PCR-OI of Nifty has increased from
1.29 to 1.47 level.
Few of the liquid counters where we have seen high cost
of carry are RCOM, RNAVAL, JPASSOCIAT, IDFCBANK
and NHPC.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 768 crores. At the same time, they bought worth
CHG. (%)
CHG. (%)
JUSTDIAL
4589200
16.45
507.65
9.58
Rs. 538 crores in index futures with rise in open interest,
BALKRISIND
1257600
13.50
1089.70
0.35
indicating addition of fresh long positions in yesterday’s
trading session.
CADILAHC
10160000
9.84
382.20
7.37
In index options front, they bought of Rs. 447 crores with
PIDILITIND
2451000
9.03
1139.55
5.61
rise in open interest. In call options, 10800 added fresh
HINDALCO
40341000
9.02
245.50
4.45
positions along with unwinding in 10500 and 10700 call
POWERGRID
33232000
8.08
212.05
0.24
options. On the flip side, we saw massive build-up in
KSCL
2431500
7.00
512.10
1.05
10500-10600 put options; followed by unwinding in
PAGEIND
67050
6.90
24540.75
5.03
10400 strike. Maximum OI concentration now stood at
10800 call and 10500 put options.
OI Losers
As anticipated, we saw some selling pressure which
bought index near the support zone; however, recovery
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
was seen in last two trading sessions to reclaim 10600
ORIENTBANK
16680000
-28.76
78.60
2.13
mark. In index futures segment, short covering was seen
GLENMARK
5954100
-22.45
535.40
1.34
in Nifty; whereas, fresh longs were formed in BankNifty.
JISLJALEQS
40212000
-14.83
103.90
6.23
Meanwhile, we witnessed massive writing in index put
SRF
638500
-11.44
1865.50
4.57
options along with covering of shorts formed in 10500-
TVSMOTOR
5347000
-9.08
563.85
3.81
10700 call options. Considering the above data points,
COALINDIA
16838800
-9.08
275.60
-1.57
we expect extension of the ongoing momentum in the
CASTROLIND
11614400
-8.37
175.30
7.99
expiry week.
IGL
9410500
-8.36
257.50
1.82
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
MCX
72.56
NIFTY
1.47
1.04
IFCI
65.39
BANKNIFTY
1.15
0.93
TATAPOWER
35.89
TATAMOTORS
0.41
0.40
CASTROLIND
50.59
RELIANCE
0.34
0.41
PIDILITIND
36.01
ICICIBANK
0.79
0.36
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Technical & Derivatives Report
May 28, 2018
FII Statistics for May 25, 2018
Turnover on May 25, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3572.68
3034.26
538.42
288340
24026.26
4.45
255959
22363.47
6.83
FUTURES
FUTURES
INDEX
INDEX
79393.14
78945.87
447.27
917606
75254.00
0.99
6198378
554252.18
-59.89
OPTIONS
OPTIONS
STOCK
13292.94
12886.26
406.68
1244346
84513.90
(1.64)
STOCK
FUTURES
1051847
68620.98
16.19
FUTURES
STOCK
STOCK
9094.44
9090.47
3.97
151936
10512.48
0.11
853799
58866.30
7.50
OPTIONS
OPTIONS
Total
105353.20
103956.86
1396.34
2602228
194306.64
0.03
TOTAL
8359983
704102.93
-53.58
Nifty Spot = 10605.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10600
49.05
Buy
10600
47.95
33.05
66.95
10633.05
27.55
72.45
10572.45
Sell
10700
16.00
Sell
10500
20.40
Buy
10600
49.05
Buy
10600
47.95
44.65
155.35
10644.65
38.95
161.05
10561.05
Sell
10800
4.40
Sell
10400
9.00
Buy
10700
16.00
Buy
10500
20.40
11.60
88.40
10711.60
11.40
88.60
10488.60
Sell
10800
4.40
Sell
10400
9.00
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 28, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
361
370
376
386
392
ASIANPAINT
1,264
1,278
1,294
1,308
1,324
AXISBANK
527
533
538
544
549
BAJAJ-AUTO
2,700
2,729
2,752
2,782
2,805
BAJFINANCE
2,075
2,096
2,124
2,144
2,172
BAJAJFINSV
5,759
5,915
6,006
6,163
6,254
BPCL
361
371
377
387
393
BHARTIARTL
362
369
375
382
388
INFRATEL
309
312
315
318
321
CIPLA
523
530
534
541
546
COALINDIA
266
271
277
282
288
DRREDDY
1,945
1,957
1,976
1,987
2,007
EICHERMOT
29,209
29,706
30,020
30,517
30,831
GAIL
304
312
318
325
332
GRASIM
995
1,013
1,025
1,043
1,056
HCLTECH
905
911
917
923
929
HDFCBANK
1,979
1,994
2,005
2,020
2,031
HDFC
1,782
1,801
1,815
1,834
1,847
HEROMOTOCO
3,417
3,485
3,530
3,598
3,643
HINDALCO
230
238
242
250
255
HINDPETRO
272
284
290
302
309
HINDUNILVR
1,541
1,558
1,575
1,592
1,609
IBULHSGFIN
1,091
1,131
1,155
1,195
1,219
ICICIBANK
291
293
297
300
303
IOC
154
159
162
166
169
INDUSINDBK
1,837
1,876
1,898
1,937
1,958
INFY
1,205
1,217
1,233
1,244
1,260
ITC
266
269
272
275
278
KOTAKBANK
1,257
1,277
1,292
1,311
1,326
LT
1,325
1,333
1,340
1,349
1,356
LUPIN
728
737
742
751
756
M&M
837
847
854
864
871
MARUTI
8,327
8,438
8,506
8,616
8,685
NTPC
163
164
166
167
169
ONGC
158
167
172
180
185
POWERGRID
209
211
212
213
215
RELIANCE
911
916
920
925
929
SBIN
260
264
266
269
272
SUNPHARMA
451
459
464
472
477
TCS
3,509
3,547
3,611
3,650
3,713
TATAMOTORS
281
288
293
299
304
TATASTEEL
545
557
564
575
582
TECHM
683
693
706
716
729
TITAN
903
913
926
937
950
ULTRACEMCO
3,643
3,663
3,681
3,701
3,719
UPL
681
689
696
704
711
VEDANTA
234
243
250
259
265
WIPRO
263
264
265
266
267
YESBANK
328
334
338
344
348
ZEEL
544
554
561
570
577
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Technical & Derivatives Report
May 28, 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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