Sensex (35176) / Nifty (10718) Exhibit 1: Nifty Daily Chart After a gap of one day, our markets opened higher which was clearly not on expected lines considering the overall sluggishness across the globe. This gap up opening was merely a formality as index came off immediately from morning s high and then remained under pressure throughout the remaining part of the day. Yesterday, if we just look at the index, we do not get the right picture. The Nifty corrected hardly 70-80 points from highs, but the way some of the individual stocks hammered is certainly not a good sign. There were many casualties seen in the broader market, hinting towards the overbought situation of the market. We reiterate that our recent bullish stance in index gets arrested around 10800 and hence, traders are advised to remain light and avoid taking undue risks. On the downside, 10680 would be seen as immediate support level. Key Levels Support 1 10680 Resistance 1 10780 Support 2 10640 Resistance 2 10800 Nifty Bank Outlook - (25568) The Nifty Bank index continued the positive momentum till noon yesterday led by the heavyweights such as Kotak Bank and HDFC Bank. Although, a sell-off amidst the broader markets during the latter half also had impact on the banking names and the index ended the session with marginal gains. Exhibit 2: Nifty Bank Daily Chart The pullback move of last few weeks in the Nifty Bank index had now reached the 50% retracement mark of the previous correction from 27648 to 23606. During this pullback move, the Nifty Bank has underperformed the Nifty index which has retraced more than 61.8% of its previous fall. In this recent upmove, there has been stock specific momentum within the sector and hence, adapting a stock specific approach has proved to be a better strategy for traders. Thus, traders are advised to continue with this strategy and trade with a proper risk management. The near-term supports for the Nifty Bank index are placed around 25440 and 25200 whereas resistances are seen around 25725 and 25810. Key Levels Support 1 25440 Resistance 1 25725 Support 2 25200 Resistance 2 25810
Comments The Nifty futures open interest has decreased by 0.12% BankNifty futures open interest has increased by 1.71% as market closed at 10718.05 levels. The Nifty May future closed with a premium of 21.35 points against a premium of 40.95 points in last trading session. The June series closed at a premium of 28.85 points. The INDIA VIX has increased from 12.36 to 12.84. At the same time, the PCR- of Nifty has decreased from 1.53 to 1.52 level. Few of the liquid counters where we have seen high cost of carry are INDIANB, RNAVAL, ZEEL, SOUTHBANK and NIITTECH. Nifty Vs Views FIIs were net sellers in cash market segment to the tune of Rs. 526 crores. At the same time, they sold worth Rs. 325 crores in index futures with fall in open interest, indicating some profit booking took place in yesterday s trading session. In index options front, they sold marginally with decent rise in open interest. In call options, 10800, 11000 and 10200 strikes were active and they also added decent positions. On the flip side, we saw fresh build-up in 10500 and 10700 put options. Maximum concentration remains intact in 11000 call and 10500 put options. The benchmark Nifty opened strong but couldn t sustain at higher levels due to profit booking. Although, we saw some signs of profit booking, good amount of longs are still intact in index futures segment. At present, 10750-10800 is an immediate hurdle for the index and we also saw this levels gaining respect in yesterday s session. Hence, unless we don t see any relevant follow-up profit booking or short formations, traders should avoid forming aggressive shorts and prefer stock specific approach. Gainers UJJIVAN 6084800 17.96 420.05 2.71 AMARAJABAT 1338400 17.37 886.20 2.92 ARVIND 6406000 15.34 407.30-3.87 BALKRISIND 1156800 13.68 1244.40-2.37 NIITTECH 2023500 13.41 1098.80-5.03 MARICO 8221200 12.85 317.15-5.33 CASTROLIND 13322400 11.66 200.30 3.01 KOTAKBANK 14888800 10.29 1256.85 3.69 Losers ORIENTBANK 15246000-22.96 89.45-5.02 GLENMARK 5489200-21.37 549.70-3.72 PCJEWELLER 16779000-18.47 110.65-23.77 TATACHEM 5089500-9.86 767.20 0.25 EQUITAS 19958400-9.28 164.60 6.70 KPIT 8676000-9.01 253.15-1.81 APOLLOTYRE 9417000-7.21 290.20-1.71 MINDTREE 3282000-5.59 1051.65-2.61 Historical Volatility HV CENTURYTEX 56.95 REPCOHOME 62.06 HINDZINC 38.17 MARICO 37.31 JETAIRWAYS 58.28 Put-Call Ratio PCR- PCR-VOL NIFTY 1.52 1.06 BANKNIFTY 1.52 0.96 INFY 0.75 0.59 ICICIBANK 0.90 0.55 TATAMOTORS 0.57 0.33
FII Statistics for May 02, 2018 Turnover on May 02, 2018 Detail Buy Sell Net Contracts Open Interest Value (in Cr.) Change (%) 2133.20 2458.21 (325.01) 155470 13300.41 (1.27) 83378.96 83471.77 (92.81) 734024 61455.30 4.60 9685.56 10162.43 (476.87) 1130736 80039.55 1.50 6223.34 6230.17 (6.83) 66081 4774.72 20.68 Instrument No. of Contracts Turnover ( in Cr. ) Change (%) 164993 14900.86 35.37 5741643 564338.50 70.80 867082 60359.27 15.18 555671 40808.10 5.76 Total 101421.06 102322.58 (901.52) 2086311 159569.99 2.88 TOTAL 7329389 680406.73 57.35 Nifty Spot = 10739.35 Lot Size = 75 Bull-Call Spreads Action Strike Price Risk Reward BEP Bear-Put Spreads Action Strike Price Risk Reward BEP Buy 10700 159.70 Sell 10800 105.70 54.00 46.00 10754.00 Buy 10700 121.35 Sell 10600 88.25 33.10 66.90 10666.90 Buy 10700 159.70 Sell 10900 63.45 96.25 103.75 10796.25 Buy 10700 121.35 Sell 10500 62.50 58.85 141.15 10641.15 Buy 10800 105.70 Sell 10900 63.45 42.25 57.75 10842.25 Buy 10600 88.25 Sell 10500 62.50 25.75 74.25 10574.25 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
Daily Pivot Levels for Nifty Constituents Scrips S2 S1 PIVOT R1 R2 ADANIPORTS 389 395 403 409 417 ASIANPAINT 1,184 1,203 1,217 1,236 1,250 AXISBANK 510 517 522 529 535 BAJAJ-AUTO 2,893 2,930 2,986 3,023 3,080 BAJFINANCE 1,877 1,891 1,914 1,928 1,951 BAJAJFINSV 5,317 5,377 5,454 5,514 5,591 BPCL 373 377 384 388 395 BHARTIARTL 402 405 409 412 416 INFRATEL 309 311 315 317 321 CIPLA 601 607 614 620 627 COALINDIA 277 279 281 283 285 DRREDDY 2,090 2,104 2,116 2,130 2,142 EICHERMOT 29,592 30,057 30,755 31,221 31,919 GAIL 317 320 325 329 334 GRASIM 1,075 1,085 1,100 1,111 1,125 HCLTECH 960 980 1,016 1,036 1,072 HDFCBANK 1,933 1,951 1,965 1,983 1,997 HDFC 1,857 1,884 1,898 1,925 1,939 HEROMOTOCO 3,559 3,611 3,693 3,745 3,827 HINDALCO 220 224 230 234 240 HINDPETRO 288 293 301 305 313 HINDUNILVR 1,434 1,453 1,484 1,502 1,533 IBULHSGFIN 1,269 1,283 1,301 1,316 1,334 ICICIBANK 271 274 279 282 287 IOC 158 160 162 163 165 INDUSINDBK 1,839 1,854 1,876 1,891 1,914 INFY 1,173 1,185 1,193 1,205 1,214 ITC 277 282 285 291 294 KOTAKBANK 1,191 1,224 1,256 1,289 1,321 LT 1,372 1,388 1,406 1,421 1,439 LUPIN 782 791 805 815 829 M&M 849 856 868 875 887 MARUTI 8,550 8,647 8,823 8,920 9,096 NTPC 168 169 171 172 174 ONGC 178 179 180 181 183 POWERGRID 202 204 206 208 211 RELIANCE 958 965 972 980 986 SBIN 236 238 242 245 249 SUNPHARMA 499 507 519 527 539 TCS 3,440 3,470 3,501 3,531 3,562 TATAMOTORS 324 330 341 347 358 TATASTEEL 557 566 582 590 606 TECHM 646 654 664 673 683 TITAN 945 955 970 980 995 ULTRACEMCO 3,916 3,966 4,043 4,093 4,170 UPL 721 727 734 740 747 VEDANTA 273 278 287 293 302 WIPRO 272 274 276 278 281 YESBANK 344 349 357 362 370 ZEEL 581 589 599 607 617
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