Sensex (35200) / Nifty (10600) Exhibit 1: Nifty Daily Chart Yesterday morning, the massacre in the global equities hinted for a gap down opening in our markets, however, the positive aspect of falling crude prices restricted to a flat opening. The index then witnessed an open high kind of scenario and immediately slipped lower to mark intraday low of 10562. Subsequently, the second half was slightly encouraging as the Asian cues recovered from lows our markets too witnessed cushion at the lower level to erase some loss from intraday lows and eventually ended tad at 10600 levels with a loss of around half a percent. In our previous article, we had mentioned that Index is in a no trading zone of 10600-10800 levels and yesterday after the choppy moves; we did manage to hold on to the support zone on the closing basis. Yesterday, even though there was a weakness in the Index there was a good stock specific action seen as the breadth in the broader market was positive (A=1007/D=803). In addition, the Bank Nifty outperformed as it closed above its previous session high. For the coming session, if the Bank Index continues to perform and if the Index manages to hold to its support zone in range 10600-10560 then there are high chances of Index retesting 10700-10740 levels. Traders are advised to keep a watch on the mentioned levels and have a stock specific approach which can give outperforming opportunities on both the sides of the trend. Key Levels Support 1 10560 Resistance 1 10670 Support 2 10500 Resistance 2 10700 Nifty Bank Outlook - (26262) Inspite of the negative global cues, the Nifty Bank index opened on a flat note in yesterday s session. Although the broader markets were under pressure in the initial couple of hours, the Banking index showed a relative outperformance. In the later half of the day, the index move higher and rallied to end the day with gains of about 150 points. Exhibit 2: Nifty Bank Daily Chart In last four sessions, the index has traded in the range of 26040-26380. The lower end of the range, which coincides with the 200DMA and 89EMA has become a short-term support. A move beyond this mentioned range should now lead to the momentum in the direction of breakout. Thus, traders with existing long positions can place a stop below 26040 support. Key Levels Support 1 26040 Resistance 1 26380 Support 2 26000 Resistance 2 26500
Comments The Nifty futures open interest has decreased by 1.01%. Bank Nifty futures open interest has increased by 7.08% as market closed at 10600.05 levels. The Nifty November future closed with a premium of 21.55 points against a premium of 15.75 points in last trading session. The December series closed at a premium of 60.60 points. The INDIA VIX has increased from 19.33 to 19.55. At the same time, the PCR- of Nifty has decreased from 1.61 to 1.55. Few of the liquid counters where we have seen high cost of carry are PCJEWELLER, SUZLON, IFCI, JPASSOCIAT and RAMCOCEM. Nifty Vs Views FIIs were net sellers in cash market segment to the tune of 1652 crores. In index futures segment, they sold of Rs. 705 crores in index futures with rise in open interest, indicating fresh short formation in yesterday s session. In options front, they bought of Rs. 2784 crores with some fall in open interest. As far as Nifty options activities are considered, we saw fresh build-up in 10600-10750 call strikes. On the flip side, decent unwinding took place in OTM strikes 10200-10500 put options. Now, maximum open interest for November series stands at 11000 followed by 10800 call and 10500 followed by 10000 put options. We had a positive start yesterday; however, once again we witnessed extension of Tuesday s fall to bring index below 10600 mark. In index futures front, we hardly saw any relevant open interest activity in Nifty Futures; however, some short formation was seen in BankNifty. In Nifty options, decent writing was seen in 10600-10900 call options. At present, maximum concentration has shifted to 10500 put which hint around this is the immediate support zone. In last two sessions fall, Nifty futures premiums have also been rising consistently. Thus, traders are advised using these declines to add-on fresh longs. Gainers DALMIABHA 619800 22.47 2358.70 3.78 MRF 28190 17.36 67324.20 2.29 APOLLOTYRE 11553000 13.87 225.45 0.24 BPCL 13420800 13.66 326.60 1.38 JPASSOCIAT 132839000 11.14 7.15 7.46 TATASTEEL 39183791 10.79 551.40-1.98 RAMCOCEM 793600 10.59 627.85 0.40 IOC 38720500 10.57 141.60 1.72 Losers REPCOHOME 718200-8.90 401.70 1.73 HCC 18016574-8.55 12.00-4.38 EXIDEIND 7564000-8.36 250.75 4.74 PCJEWELLER 10265500-6.71 78.35 3.87 ARVIND 8006000-6.21 319.05 0.13 SRF 567500-5.73 2114.95 1.48 MUTHOOTFIN 1909500-5.35 452.80 0.01 NATIONALUM 30448000-5.06 66.90 1.68 Historical Volatility HV DRREDDY 47.36 EXIDEIND 40.53 POWERGRID 28.51 FEDERALBNK 44.18 TCS 36.24 Put-Call Ratio PCR- PCR-VOL NIFTY 1.55 0.95 BANKNIFTY 1.19 0.94 RELIANCE 0.54 0.71 ICICIBANK 0.71 0.57 INFY 0.60 0.56
FII Statistics for November 21, 2018 Turnover on November 21, 2018 Detail Buy Sell Net Contracts Open Interest Value (in Cr.) Change (%) 3047.55 3752.67 (705.12) 457189 34619.01 1.09 102138.96 99355.24 2783.71 1068537 77695.90 (0.38) 11746.68 11857.72 (111.04) 1439971 83941.41 0.64 8761.81 8617.80 144.01 177219 10523.78 3.34 Instrument No. of Contracts Turnover ( in Cr. ) Change (%) 346549 22874.76 24.37 13980702 806203.49 47.69 904442 51764.64 8.69 869738 51762.24 9.35 Total 125695.01 123583.44 2111.57 3142916 206780.09 0.50 TOTAL 74455 700968 41.47 Nifty Spot = 10600.05 Bull-Call Spreads Action Strike Price Risk Reward BEP Bear-Put Spreads Action Strike Price Risk Reward BEP Buy 10600 103.75 Sell 10700 55.30 48.45 51.55 10648.45 Buy 10600 81.15 Sell 10500 48.40 32.75 67.25 10567.25 Buy 10600 103.75 Sell 10800 25.45 78.30 121.70 10678.30 Buy 10600 81.15 Sell 10400 28.85 52.30 147.70 10547.70 Buy 10700 55.30 Sell 10800 25.45 29.85 70.15 10729.85 Buy 10500 48.40 Sell 10400 28.85 19.55 80.45 10480.45 Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation. Nifty Put-Call Analysis
Daily Pivot Levels for Nifty Constituents Scrips S2 S1 PIVOT R1 R2 ADANIPORTS 349 355 359 365 369 ASIANPAINT 1,298 1,311 1,327 1,340 1,356 AXISBANK 603 615 622 634 640 BAJAJ-AUTO 2,541 2,573 2,623 2,655 2,705 BAJFINANCE 2,336 2,383 2,409 2,456 2,482 BAJAJFINSV 5,622 5,737 5,805 5,920 5,987 BPCL 314 320 332 338 349 BHARTIARTL 325 329 334 338 343 INFRATEL 255 257 259 261 263 CIPLA 517 520 524 526 531 COALINDIA 259 260 261 263 264 DRREDDY 2,533 2,568 2,611 2,645 2,689 EICHERMOT 23,152 23,684 24,492 25,024 25,832 GAIL 337 341 344 348 351 GRASIM 830 847 858 874 885 HCLTECH 958 972 993 1,006 1,027 HDFCBANK 1,996 2,007 2,016 2,027 2,036 HDFC 1,847 1,858 1,874 1,885 1,902 HEROMOTOCO 2,853 2,882 2,922 2,952 2,991 HINDALCO 214 219 222 226 230 HINDPETRO 234 240 251 257 268 HINDUNILVR 1,664 1,677 1,692 1,704 1,719 IBULHSGFIN 677 691 708 722 739 ICICIBANK 349 353 357 360 364 IOC 136 139 144 146 151 INDUSINDBK 1,521 1,534 1,551 1,564 1,582 INFY 596 607 624 635 652 ITC 277 280 282 284 287 JSW STEEL 319 323 326 329 333 KOTAKBANK 1,162 1,169 1,177 1,185 1,192 LT 1,383 1,392 1,403 1,413 1,424 M&M 751 760 774 783 797 MARUTI 7,273 7,349 7,407 7,483 7,542 NTPC 146 147 148 149 151 ONGC 149 150 153 154 157 POWERGRID 177 180 184 186 190 RELIANCE 1,083 1,098 1,122 1,137 1,160 SBIN 280 284 287 290 293 SUNPHARMA 521 527 532 538 542 TCS 1,755 1,783 1,827 1,856 1,900 TATAMOTORS 182 183 185 186 188 TATASTEEL 542 547 554 559 566 TECHM 669 680 695 706 720 TITAN 902 914 922 934 942 ULTRACEMCO 3,895 3,969 4,012 4,086 4,129 UPL 750 765 775 789 799 VEDANTA 199 200 202 204 206 WIPRO 309 312 316 318 323 YESBANK 192 195 198 201 204 ZEEL 427 433 442 448 457
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