Technical & Derivatives Report
May 30, 2019
Sensex (39502) / Nifty (11861)
Exhibit 1: Nifty Daily Chart
In last couple of weeks, we were completely decoupled from the
global peers but now, the event is over on the domestic front
and after couple of days we are back to our routines. Although
we reached fresh record highs in few days; the uncertainty in the
global markets still continues. Yesterday, we opened lower as
indicated by the SGX Nifty which was followed by some
consolidation throughout the first half. However, in the latter
half, the selling intensified across the globe and in this course of
action; we slipped below the 11900 mark on a closing basis.
Clearly the low hanging fruit is gone in our market and the kind
of broad based rally we saw in the midst of an eventful period,
it’s quite remarkable. Now, those who missed this bus are
jumping in and that’s clearly causing this choppy lethargic
moves. However having said that, directionally we still remain
upbeat and expect the Nifty to test and even surpass 12000
sooner or later. For the coming session, 11836 followed by
11812 would be seen as key sports; whereas on the higher side,
11895 and 11932 are the levels to watch out for.
Yesterday, we saw decent correction in midcap counters, which
we construe as a profit booking as there is no major damage
done in the overall structure of ‘nifty Midcap’ index. We advise
traders to use this decline as a good buying opportunity
Key Levels
Support 1 - 11836
Resistance 1 -
11895
Support 2 - 11812
Resistance 2 -
11932
Nifty Bank Outlook - (31295)
Exhibit 2: Nifty Bank Daily Chart
In yesterday's session, the Nifty Bank index opened gap down
and traded with a negative bias to end the session with a loss of
300 points.
After the recent up move, the index has consolidated in a range
in last couple of sessions. The F&O expiry factor could lead to
some volatility for intraday traders in today's session while the
higher degree trend continues to be positive. Hence, intraday
traders are advised to be stock specific while positional traders
should use declines as buying opportunities. The intraday
supports for the index are placed around 31170 and
31000
whereas resistances are seen around 31450 and 31550.
Key Levels
Support 1 - 31170
Resistance 1 -
31450
Support 2 - 31000
Resistance 2 -
31550
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May 30, 2019
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 5.12%.
Bank Nifty futures open interest has decreased by 3.00%
as market closed at 11861.10 levels.
The Nifty May future closed with a premium of 1.15
points against a premium of 12 points in last trading
session. The June series closed at a premium of 34.75
points.
The INDIA VIX has increased from
15.92 to
16.40.
At the same time, the PCR-OI of Nifty has decreased
from 1.28 to 1.16.
Few of the liquid counters where we have seen high cost
of carry are IDEA, BAJAJ-AUTO, BALKRISIND, BEML and
RBLBANK.
Views
OI Gainers
Post yesterday’s consolidation, we began the session
OI
PRICE
SCRIP
OI
PRICE
slightly lower and was hovering around 11900 mark. But,
CHG. (%)
CHG. (%)
in the latter half fresh selling dragged index below
INDIANB
5190000
14.77
275.80
0.11
11900 mark on the closing basis.
KSCL
772500
13.94
538.85
1.92
FII’s were net sellers in the equity segment to the tune
CUMMINSIND
1565900
9.44
766.10
-3.57
of Rs.304 crores. In index futures front, they were sellers
GLENMARK
4695000
8.28
544.60
-2.70
of Rs. 734 crores with good amount of rise in open
NMDC
26124000
7.59
102.65
0.39
interest, indicating short formation in yesterday’s
PAGEIND
163450
7.55
19785.30
-0.10
session.
MRPL
6713000
6.56
63.35
-2.27
In index options front, they bought of Rs. 2493 crores
IDEA
550498568
5.44
13.20
-3.28
with marginal fall in OI. In call options, fresh buildup was
seen in
11850-12000 strikes. Meanwhile, decent
unwinding took place in ATM and OTM puts. Maximum
OI Losers
open interest for May series is visible in 12000 call and
OI
PRICE
SCRIP
OI
PRICE
11700 put strikes.
CHG. (%)
CHG. (%)
The correction seen was mainly due to profit booking,
MUTHOOTFIN
3013500
-19.06
629.15
-0.82
good amount of long formed earlier are still intact in the
MGL
754200
-17.08
883.15
0.53
system. Post election result day, we are witnessing fresh
CHOLAFIN
786000
-13.77
1469.20
-1.73
buying in index futures along with writing in index puts.
CGPOWER
16200000
-12.85
36.70
-4.05
Although, we saw some profit booking and unwinding
AJANTPHARM
528500
-12.28
1032.45
-0.66
by put writer yesterday, the bias remains positive.
IDFC
72124800
-11.34
37.40
-1.72
Throughout the series, FIIs formed hedged positions
CADILAHC
16075200
-11.04
263.75
1.31
(selling index futures and buying equities) and being the
APOLLOHOSP
936500
-10.98
1203.30
0.82
expiry day, we expect some short covering rally towards
the record highs. Hence, we would recommend buying
ATM call for today.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
EQUITAS
44.86
NIFTY
1.16
0.76
GODFRYPHLP
42.20
BANKNIFTY
0.84
0.89
OIL
23.95
RELIANCE
0.42
0.62
VOLTAS
30.49
ICICIBANK
0.72
0.67
JSWSTEEL
47.27
INFY
0.71
0.29
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May 30, 2019
FII Statistics for May 29, 2019
Turnover on May 29, 2019
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
9826.70
10560.87
(734.17)
405739
34024.09
13.78
407822
32262.13
-6.04
FUTURES
FUTURES
INDEX
INDEX
188790.03
186297.03
2493.00
875838
72385.54
(0.23)
13011842
932707.32
10.26
OPTIONS
OPTIONS
STOCK
35671.99
36463.73
(791.75)
1490749
90418.62
(1.70)
STOCK
FUTURES
1847302
109781.59
-8.64
FUTURES
STOCK
STOCK
4943.62
4959.57
(15.94)
117635
7019.97
(12.97)
963666
61543.96
5.28
OPTIONS
OPTIONS
Total
239232.35
238281.21
951.14
2889961
203848.23
0.13
TOTAL
732838
2568108
7.31
Nifty Spot = 11861.10
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11900
22.00
Buy
11800
15.50
16.50
83.50
11916.50
11.40
88.60
11788.60
Sell
12000
5.50
Sell
11700
4.10
Buy
11900
22.00
Buy
11800
15.50
20.25
179.75
11920.25
13.85
186.15
11786.15
Sell
12100
1.75
Sell
11600
1.65
Buy
12000
5.50
Buy
11700
4.10
3.75
96.25
12003.75
2.45
97.55
11697.55
Sell
12100
1.75
Sell
11600
1.65
Nifty Put-Call Analysis
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
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May 30, 2019
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
399
403
408
412
417
ASIANPAINT
1,338
1,348
1,357
1,368
1,377
AXISBANK
796
800
807
811
818
BAJAJ-AUTO
2,875
2,900
2,945
2,970
3,015
BAJFINANCE
3,360
3,385
3,409
3,433
3,457
BAJAJFINSV
8,011
8,071
8,116
8,176
8,220
BPCL
389
394
399
404
408
BHARTIARTL
333
336
341
343
348
INFRATEL
263
269
274
280
285
BRITANNIA
2,847
2,882
2,906
2,941
2,965
CIPLA
546
555
569
578
591
COALINDIA
246
248
250
252
254
DRREDDY
2,560
2,585
2,618
2,643
2,675
EICHERMOT
20,004
20,214
20,571
20,780
21,137
GAIL
342
348
355
361
368
GRASIM
895
903
909
917
923
HCLTECH
1,056
1,070
1,083
1,097
1,110
HDFCBANK
2,399
2,408
2,419
2,428
2,440
HDFC
2,116
2,132
2,151
2,167
2,186
HEROMOTOCO
2,674
2,700
2,729
2,755
2,784
HINDALCO
195
197
199
201
203
HINDUNILVR
1,761
1,771
1,780
1,790
1,799
IBULHSGFIN
753
765
776
789
800
ICICIBANK
417
420
425
428
434
IOC
156
158
162
164
167
INDUSINDBK
1,586
1,597
1,613
1,625
1,641
INFY
718
723
728
733
738
ITC
285
287
289
291
293
JSW STEEL
269
275
285
291
301
KOTAKBANK
1,487
1,501
1,515
1,529
1,543
LT
1,514
1,533
1,565
1,584
1,616
M&M
654
663
670
679
687
MARUTI
6,784
6,838
6,923
6,977
7,062
NTPC
128
130
131
133
135
ONGC
168
170
172
174
176
POWERGRID
187
189
191
192
194
RELIANCE
1,288
1,300
1,317
1,330
1,346
SBIN
340
344
352
356
363
SUNPHARMA
394
409
418
433
443
TCS
2,056
2,082
2,103
2,128
2,149
TATAMOTORS
173
174
177
179
182
TATASTEEL
479
486
499
506
519
TECHM
726
732
740
747
755
TITAN
1,219
1,227
1,232
1,240
1,246
ULTRACEMCO
4,661
4,691
4,732
4,762
4,803
UPL
978
988
1,001
1,010
1,023
VEDANTA
161
163
166
169
171
WIPRO
281
283
286
288
291
YESBANK
147
150
153
155
158
ZEEL
362
367
373
378
383
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Technical & Derivatives Report
May 30, 2019
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