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Technical & Derivatives Report
December 30, 2019
Sensex (
41575
) / Nifty
2246
)
Last week’s close suggested some breather or a dull period in our
market and in-line with this; we had a sluggish opening for the
week on Monday. This being a ‘Christmas’ week, generally we
tend to see no major action in the market. First couple of sessions
gave full justice to this historical notion. But last couple of sessions
were completely action packed and was literally a feast for
traders. On the expiry day, market corrected fiercely to conclude
the final series of the calendar year below 12200; but the
pessimism did not last too long. On Friday, we had a gap up
opening by a fair margin and the bulls took complete charge
from thereon. The buying momentum augmented as the day
progressed and eventually, the Nifty managed to snap major
portion of weekly losses.
In last couple of weeks, Nifty gave a relentless move of nearly
500 points and hence, at the end of last week, the prices looked
a bit exhausted. It required some sort of correction either in the
form of price wise or a time wise correction. Due to intra week
decline, the index is back to the equilibrium and is all set to enter
an uncharted territory now. We continue with our optimistic
stance on the market and expect the Nifty to head towards our
recent targets of 12400 - 12500 soon. On the downside, 12150
- 12100 has now become a sacrosanct support zone for the
index.
Key Levels
Support 1 – 12150 Resistance 1 – 12370
Support 2 – 12100 Resistance 2 – 12400
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook
-
(
32412
)
Post a corrective phase on the F&O expiry session, the BankNifty
index opened on a positive note in Friday's session. The index
then rallied higher throughout the day and ended with gains of
over 400 points.
The banking space continued its uptrend at the end of the week,
thus ensuring a continuation of the 'Higher Top Higher Bottom'
structure. In the recent past as well, dips in this index have
resulted as buying opportunities and the same was witnessed
during last week as well. The trend still continues to be positive
and hence, we continue with our advice for traders to trade with a
positive bias. The immediate support for BankNifty is placed
around 32100-32000 whereas the upmove could continue
towards the 32800-33000 range.
Key Levels
Support 1 – 32100 Resistance 1 – 32800
Support 2 – 32000 Resistance 2 – 33000
Exhibit 2: Nifty Bank Daily Chart
The major characteristic o
f Friday’s rally has been the overall
market breadth, which was very much in favour of the bulls. We
had a good broad based rally in the market where few
marquee large cap names joined hands with quality mid cap
counters. It’s a sign of healthy Bull Run, which we believe is
likely to continue. Also, the way midcap index is shaped up
now, all focus would now be on the broader end of the
spectrum. The Santa rally in mid cap space is likely to
accelerate now. Thus, traders are advised to find such potential
candidates which are either on the verge of a breakout or
rebounding from their supports.
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Technical & Derivatives Report
December 30, 2019
Nifty Vs OI
Views
We began the truncated week on a flat note in the
absence of any major trigger in the global market.
However, decent profit booking was seen in the last
two sessions of the expiry that led a dip towards the
support zone of 12100-12150. On Friday, we had a
cheerful start and follow-up buying was witnessed as
the day progressed to eventually conclude the week in
a positive trajectory.
FIIs were net buyers in the cash market segment to the
tune of Rs. 81 crores. In index futures, they bought
worth Rs. 1083 crores with good amount of rise in
open interest, indicating blend of long and short
formation.
On Friday, we witnessed good amount of long
formation in both the indices. Rollover in Nifty stood at
70.44%; which is on the lower side as compared to the
three-month average of 78.06%. In case of banking
index, the rollover figure (78.46%) is above the
average of 70.87%. Thus, indicating longs formed in
last series are still intact in this space. We witnessed
good amount of writing in 12100-12200 puts on
Friday, shifting the base higher. Hence, we maintain
our optimistic stance on market and soon expect a rally
beyond 12300 mark.
Comments
The Nifty futures open interest has increased by 7.46%
Bank Nifty futures open interest has increased 24.11% as
market closed at 12245.80 levels.
The Nifty January future closed with a premium of 73.45
points against a premium of 69.20 points in last trading
session. The February series closed at a premium of
110.20 points.
The INDIA VIX has decreased from 11.12 to 10.52.
At the same time, the PCR-OI of Nifty has increased from
1.31 to 1.46.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GMRINFRA, BOSCHLTD,
TATAMTRDVR and TATAPOWER.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CANBK 13052000 15.94 224.20 2.19
PVR 997600 15.30 1883.65 3.26
MRF 17910 14.59 65625.75 4.31
JUBLFOOD 2093000 14.40 1627.05 2.17
BALKRISIND 1936800 10.35 986.35 1.60
MANAPPURAM 18480000 8.99 176.40 2.54
NIITTECH 625500 8.17 1583.00 -1.43
OIL 5101899 7.37 150.95 1.00
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
APOLLOHOSP 1700000 -7.98 1418.10 2.66
TATAGLOBAL 10060200 -4.75 318.45 2.07
SRF 718500 -3.04 3420.95 -0.08
NATIONALUM 43839900 -2.32 43.55 0.58
HINDPETRO 17665200 -2.03 266.60 2.85
AMBUJACEM 18325000 -1.35 194.90 0.56
POWERGRID 14124000 -1.29 189.05 1.80
RBLBANK 15079500 -1.11 336.55 0.84
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.46 0.86
BANKNIFTY 1.55 0.80
RELIANCE 0.65 0.53
ICICIBANK 0.67 0.57
INFY 0.65 0.55
Historical Volatility
SCRIP HV
PAGEIND 36.78
MRF 27.07
PVR 27.20
EXIDEIND 33.56
AXISBANK 31.12
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Technical & Derivatives Report
December 30, 2019
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot
=
12
245.
80
Lot Size = 75
FII Statistics for
December
27
, 2019
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
2426.81 2352.46 74.35
125632 10930.61 (35.74)
INDEX
OPTIONS
139089.04 137703.72 1385.32
508473 43863.61 (23.39)
STOCK
FUTURES
8106.29 7299.12 807.17
1429825 96697.24 (4.91)
STOCK
OPTIONS
2679.06 2614.06 65.00
26410 1725.79 (35.37)
Total 152301.20
149969.36
2331.84
2090340
153217.25
(13.04)
Turnover on
December
27
, 2019
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
INDEX
FUTURES
233759 18065.42 -18.63
INDEX
OPTIONS
9703821 717647.99 -20.22
STOCK
FUTURES
525803 35666.24 -66.95
STOCK
OPTIONS
396923 28965.14 -43.46
TOTAL 1,08,60,306
800344.79 -25.95
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12300 162.60
53.85 46.15 12353.85
Sell 12400 108.75
Buy 12300 162.60
91.50 108.50 12391.50
Sell 12500 71.10
Buy 12400 108.75
37.65 62.35 12437.65
Sell 12500 71.10
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12200 110.45
29.05 70.95 12170.95
Sell 12100 81.40
Buy 12200 110.45
49.60 150.40 12150.40
Sell 12000 60.85
Buy 12100 81.40
20.55 79.45 12079.45
Sell 12000 60.85
Nifty Put-Call Analysis
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December 30, 2019
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 360 362
365 367 370
ASIANPAINT 1,788 1,800
1,813 1,825 1,838
AXISBANK 727 744
753 769 779
BAJAJ-AUTO 3,203 3,222
3,240 3,260 3,278
BAJFINANCE 4,167 4,210
4,235 4,278 4,303
BAJAJFINSV 9,302 9,372
9,419 9,489 9,536
BPCL 472 481
487 496 502
BHARTIARTL 446 450
454 458 462
INFRATEL 250 253
256 259 262
BRITANNIA 2,987 3,015
3,048 3,076 3,109
CIPLA 468 475
479 485 490
COALINDIA 194 199
202 207 210
DRREDDY 2,845 2,871
2,888 2,915 2,931
EICHERMOT 21,730 21,976
22,148 22,394 22,566
GAIL 117 118
119 119 120
GRASIM 731 736
740 744 748
HCLTECH 553 560
565 572 577
HDFCBANK 1,266 1,270
1,275 1,279 1,284
HDFC 2,406 2,425
2,437 2,456 2,468
HEROMOTOCO 2,404 2,423
2,441 2,460 2,477
HINDALCO 213 214
216 217 218
HINDUNILVR 1,926 1,938
1,946 1,958 1,967
ICICIBANK 534 542
546 554 558
IOC 124 126
127 128 129
INDUSINDBK 1,498 1,511
1,526 1,539 1,554
INFY 726 731
734 740 743
ITC 235 236
237 238 239
JSW STEEL 262 266
268 272 275
KOTAKBANK 1,667 1,676
1,691 1,700 1,714
LT 1,272 1,286
1,294 1,308 1,316
M&M 522 526
529 534 537
MARUTI 7,205 7,275
7,322 7,392 7,439
NESTLEIND 14,528 14,596
14,643 14,711 14,758
NTPC 115 116
117 117 118
ONGC 126 127
129 130 131
POWERGRID 184 187
188 191 192
RELIANCE 1,512 1,527
1,537 1,552 1,562
SBIN 331 334
336 339 342
SUNPHARMA 419 423
425 428 431
TCS 2,150 2,174
2,200 2,225 2,251
TATAMOTORS 174 175
176 177 178
TATASTEEL 460 465
468 473 477
TECHM 765 772
777 785 789
TITAN 1,177 1,184
1,192 1,199 1,206
ULTRACEMCO 4,017 4,036
4,064 4,083 4,111
UPL 564 572
577 585 590
VEDANTA 149 150
152 153 154
WIPRO 244 246
248 250 253
YESBANK 46 47
48 49 51
ZEEL 291 295
300 304 309
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Technical & Derivatives Report
December 30, 2019
*
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.des[email protected]elbroking.com
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