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Technical & Derivatives Report
January 29
, 2020
Sensex (
4
) / Nifty
(1
2
056
)
In spite of SGX Nifty indicating a weak opening, our markets
started on a positive note however it failed to capitalize on it
and traded within a range for the first half of the session. In
the second half, Index witnessed a sell-off and after a mild
bounce in the last few minutes eventually ended with a loss of
around half a percent at 12056.
As mentioned in our previous outlook, Index has now
approached a key support level at the psychological number
of 12000 which coincides with 78.6% retracement of the
recent rally (11929 12389) and trend line support joined by
two major bottoms (11832-11929). In addition, we are now
witnessing a bullish reversal ‘Wolfe Wave’ pattern on the
hourly chart and yesterday during the last half an hour we
witnessed a minor bounce back from the price reversal zone
of the mentioned pattern. With the above rationale, we expect
the Index to hold the psychological level of 12000 ahead of
the F&O expiry session and key union budget. Traders are
hence advised to keep a positive stance on stock-specific
action which are likely to outperform ahead of budget. On the
flip side, immediate resistance is placed around 12150 and
12210 levels.
Key Levels
Support 1 – 12000 Resistance 1 – 12150
Support 2 – 11929 Resistance 2 – 12210
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
30
761
)
Bank Nifty Index started on a mild positive note and after
trading in a range ended with a minor loss of 0.25% at
30761.
The bank index has inched closer towards the 30600 mark
which last week acted as strong support and resulted a strong
bounce. Going ahead, it would be crucial to see how the
index behaves around this level. On the flip side, 31050 and
31330 are the immediate resistance zone. We reiterate our
view that traders should focus on stock-specific action which
are likely to provide better trading opportunity ahead of F&O
expiry session and key union budget.
Key Levels
Support 1 – 30600 Resistance 1 – 31050
Support 2 – 30500 Resistance 2 – 31330
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
January 29
, 2020
Nifty Vs OI
Vie
ws
Post Monday’s final hour selling, we began yesterday’s
session on a positive note and saw an upmove towards
12150 mark. Similar to the previous session, we
witnessed fresh selling at higher levels to drag index
almost towards the important psychological support of
12000 mark. But, due to some recovery concluded the
day tad above 12050 with a cut of another half a
percent.
FIIs continued their selling streak in the cash market
segment, they sold to the tune of Rs. 1357 crores. In
index futures, they sold of worth Rs. 541 crores with rise
in open interest, indicating continuation of selling in
yesterday’s trade.
Since the last two trading sessions, Nifty futures have
been attracting fresh shorts. Unlike last couple of
sessions; the banking index managed to slightly
outperform the benchmark. In Nifty options front, put
writers of 12000 and 12100 looked troubled and
hence, covered their positions. On the other side, a
good amount of writing was seen in 12050-12150 call
options. As Nifty is hovering around the important
support zone of 12000 mark; traders are advised
avoiding any bearish bets and instead look to buy ATM
calls in case we see any declines below the mentioned
support.
Comments
The Nifty futures open interest has increased by 0.54%
Bank Nifty futures open interest has increased 3.13% as
market closed at 12055.80 levels.
The Nifty January future closed with a premium of 12.20
points against a premium of 6.70 points in last trading
session. The February series closed at a premium of
51.20 points.
The INDIA VIX has increased from 17.17 to 17.30.
At the same time, the PCR-OI of Nifty has decreased
from 1.11 to 1.00.
Few of the liquid counters where we have seen high cost
of carry are IDEA, IDFCFIRSTB, DISHTV, M&MFIN and
CANBK.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPHARM 582500 25.67 1916.25 -5.52
CESC 2204800 24.48 733.35 -1.78
ESCORTS 6415200 17.89 727.70 -0.11
MCDOWELL-N 14095000 11.18 655.95 13.66
TATAGLOBAL 16259400 9.57 380.70 -0.39
BHARATFORG 9596600 8.02 499.80 -1.79
TATAMOTORS 77228000 7.17 176.10 -3.16
WIPRO 24492800 6.34 244.05 -0.53
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CASTROLIND 4305000 -28.81 132.90 3.03
MINDTREE 1228800 -14.90 876.00 -0.94
DISHTV 68841900 -11.69 14.75 6.86
TATAMTRDVR 25051600 -10.63 74.15 -1.98
MOTHERSUMI 28735000 -9.99 139.00 -1.21
IBULHSGFIN 23703600 -9.49 320.20 -0.85
PFC 43400000 -9.08 116.00 0.22
JUBLFOOD 3362500 -8.70 1754.30 -3.35
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.00 0.79
BANKNIFTY 0.70 0.94
RELIANCE 0.38 0.59
ICICIBANK 0.44 0.48
INFY 0.69 0.58
Historical Volatility
SCRIP HV
MCDOWELL-N 64.79
TORNTPHARM 37.14
JUBLFOOD 27.04
SRF 20.76
PAGEIND 40.65
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Technical & Derivatives Report
January 29
, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot
=
12
055.80
Lot Size = 75
FII Statistics for
January
28
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5903.00 6443.79 (540.79) 237221 19449.95 4.24
INDEX
OPTIONS
295135.45 295684.56 (549.11) 828825 67572.02 2.31
STOCK
FUTURES
43020.82 44032.23 (1011.41) 1592795 106127.32 (0.90)
STOCK
OPTIONS
6756.62 6702.65 53.97
82124 5504.59 (6.06)
Total 350815.89
352863.23
(2047.34) 2740965
198653.88
0.31
Turnover on
January
28
, 20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
384673 28936.31 8.94
INDEX
OPTIONS
18455263 1318370.91 35.95
STOCK
FUTURES
1886299 127200.17 38.25
STOCK
OPTIONS
1265629 91274.97 14.07
TOTAL 2,19,91,864
1565782.36 34.02
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12100 40.65
26.25 73.75 12126.25
Sell 12200 14.40
Buy 12100 40.65
36.15 163.85 12136.15
Sell 12300 4.50
Buy 12200 14.40
9.90 90.10 12209.90
Sell 12300 4.50
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12000 28.40
18.20 81.80 11981.80
Sell 11900 10.20
Buy 12000 28.40
24.05 175.95 11975.95
Sell 11800 4.35
Buy 11900 10.20
5.85 94.15 11894.15
Sell 11800 4.35
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 29
, 2020
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 364 368
375 380 386
ASIANPAINT 1,761 1,770
1,782 1,791 1,803
AXISBANK 728 733
740 744 751
BAJAJ-AUTO 3,011 3,036
3,073 3,098 3,134
BAJFINANCE 4,105 4,159
4,204 4,258 4,303
BAJAJFINSV 9,444 9,538
9,624 9,718 9,804
BPCL 462 472
477 486 492
BHARTIARTL 469 480
497 508 526
INFRATEL 227 232
238 243 249
BRITANNIA 3,102 3,142
3,176 3,215 3,249
CIPLA 455 460
464 469 473
COALINDIA 185 187
191 193 196
DRREDDY 3,107 3,148
3,199 3,240 3,291
EICHERMOT 20,711 20,899
21,063 21,251 21,415
GAIL 124 125
126 127 129
GRASIM 783 796
810 823 837
HCLTECH 586 594
600 608 615
HDFCBANK 1,207 1,215
1,221 1,230 1,236
HDFC 2,376 2,404
2,438 2,466 2,499
HEROMOTOCO 2,404 2,436
2,473 2,505 2,542
HINDALCO 191 194
197 199 202
HINDUNILVR 2,034 2,047
2,056 2,070 2,078
ICICIBANK 515 522
531 538 547
IOC 115 116
118 120 121
INDUSINDBK 1,215 1,235
1,260 1,280 1,305
INFY 767 773
777 783 787
ITC 227 229
232 234 238
JSW STEEL 246 251
256 261 266
KOTAKBANK 1,597 1,612
1,625 1,639 1,653
LT 1,330 1,338
1,347 1,355 1,364
M&M 556 564
577 585 598
MARUTI 6,803 6,900
7,060 7,157 7,317
NESTLEIND 15,155 15,286
15,498 15,629 15,841
NTPC 109 111
112 114 115
ONGC 115 116
117 118 119
POWERGRID 187 189
191 193 195
RELIANCE 1,435 1,454
1,482 1,500 1,528
SBIN 306 311
315 320 324
SUNPHARMA 440 446
454 461 469
TCS 2,139 2,161
2,175 2,197 2,210
TATAMOTORS 169 173
178 182 188
TATASTEEL 430 438
450 458 470
TECHM 780 787
792 798 803
TITAN 1,167 1,181
1,202 1,216 1,237
ULTRACEMCO 4,505 4,557
4,636 4,688 4,768
UPL 525 531
539 546 554
VEDANTA 138 140
144 146 150
WIPRO 240 242
244 246 248
YESBANK 40 41
42 43 44
ZEEL 265 269
275 279 285
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Technical & Derivatives Report
January 29
, 2020
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.[email protected]angelbroking.com
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