Sensex (38337) / Nifty (11583) Exhibit 1: Nifty Daily Chart After one day break, our markets opened with a bang at fresh record highs; but it was merely a formality as we saw Nifty sliding below 11600 in initial trades. Thereafter, index slipped into a consolidation mode as we did not see any encouraging movement in the index. Yes, lot of index balancing was seen throughout the session which restricted benchmarks within the slender range of 40 points to eventually conclude with negligible gains. As far as price development is concerned, the chart structure remains unchanged and so as our view. Index has clearly slipped into a consolidation mode but the undertone remains bullish. For the coming session, 11539 followed by 11500 seems to be a strong support zone; whereas on the upside, 11620 11650 these are the levels to watch out for. Considering last couple of days movement, it s advisable to focus outside the index, which is likely to provide better trading opportunities and are likely to fetch higher returns as compared to the index. Yesterday, Nifty Pharma clearly outshined the rest of its peers and hence, although, it has moved up a lot in the recent past, we expect the ongoing momentum to continue. In our sense, the recent rally in the Pharma basket is mainly to do with the under-ownership of the sector and hence, people are now trying to catch these soaring birds at any level. Do watch out for this space as some of the marquee names are still offering a good risk to reward ratio. Key Levels Support 1 11539 Resistance 1 11620 Support 2 11500 Resistance 2 11650 Nifty Bank Outlook - (28028) Post opening on a flat note, the Nifty Bank index underperformed the broader markets yesterday and corrected during the day to register a loss of about 0.81 percent. Exhibit 2: Nifty Bank Daily Chart Amongst the banking space, the private sector heavyweights showed correction which led to come correction in the index too. However, the broader trend for the index is still positive and yesterday's underperformance does not indicate any reversal of the trend. If we see last couple of weeks, the index has just consolidated in a range and this just seems to be a corrective phase within an uptrend. Hence, positional traders should continue to use dips as buying opportunities. On the flipside, intraday traders should be very stock specific till the index resumes its uptrend. The intraday supports for the index are placed around 27965 and 27740 whereas resistances are seen around 28150 and 28325. Key Levels Support 1 27965 Resistance 1 28150 Support 2 27740 Resistance 2 28325
Comments The Nifty futures open interest has increased by 3.38% Bank Nifty futures open interest has decreased by 12.13% as market closed at 11582.75 levels. The Nifty August future closed with a premium of 12.65 points against a premium of 15.65 points in last trading session. The September series closed at a premium of 52.05 points. The INDIA VIX has decreased from 12.90 to 12.75. At the same time, the PCR- of Nifty has increased from 1.70 to 1.73. Few of the liquid counters where we have seen high cost of carry are INFIBEAM, SUZLON, MRPL, PNB and GMRINFRA. Nifty Vs Views FIIs were net buyers in cash market segment to the tune of Rs. 433 crores. At the same time, they bought worth Rs. 358 crores in index futures with rise in open interest, indicating addition of long positions in yesterday s trading session. In index options front, they bought worth Rs. 947 crores with fall in open interest. In call options, we hardly saw any relevant activity. On the flip side, 11500-11600 puts continued adding decent positions. Now, the maximum open interest concentration is placed at 11600 call and for put options has shifted higher from 11400 to 11500. We started off yesterday s session above 11600 mark but the next minute sharp profit booking emerged. Some range bound move in the latter half led to closing with nominal gains. Stronger hands turn net buyers in cash and index futures segment. In addition, good amount of writing took place in 11500 and 11600 puts. At current juncture, 11450-11500 is an immediate base for index; whereas, 11650-11700 shall be the next levels to watch out for. Hence, any dips near the support zone shall be an opportunity to add fresh longs. Gainers MGL 5539800 278.87 840.70-5.76 ALBK 23221000 18.20 40.30-1.34 BATAINDIA 2975500 15.01 1076.50 3.48 OFSS 162600 14.47 4086.15 1.14 BPCL 13177800 12.01 357.75-3.12 EXIDEIND 9244000 11.97 301.25 1.84 UBL 2156700 10.99 1444.85 5.02 TATAGLOBAL 16026750 10.19 235.45-2.34 Losers BERGEPAINT 1568600-13.37 333.30 0.33 KAJARIACER 2166000-8.65 484.70 5.81 NESTLEIND 289800-6.91 11544.05 5.72 DISHTV 49032000-6.88 71.80-1.10 ADANIPORTS 9582500-6.60 384.50 1.65 TORNTPOWER 2265000-6.56 248.70-0.36 L 3616536-5.92 207.45-0.10 KSCL 1225500-5.88 638.40 1.17 Historical Volatility HV MGL 43.01 NESTLEIND 39.27 MARICO 37.04 DABUR 41.94 BATAINDIA 37.19 Put-Call Ratio PCR- PCR-VOL NIFTY 1.73 1.19 BANKNIFTY 0.75 0.80 TATAMOTORS 0.48 0.50 RELIANCE 1.32 0.64 ICICIBANK 1.09 0.78
FII Statistics for August 23, 2018 Turnover on August 23, 2018 Detail Buy Sell Net Contracts Open Interest Value (in Cr.) Change (%) 3644.28 3285.89 358.39 370555 32513.30 3.47 139836.43 138889.15 947.28 783391 70261.48 (1.25) 17675.32 17669.98 5.34 1162397 88524.28 0.44 13467.60 13497.45 (29.84) 154782 11966.76 4.95 Instrument No. of Contracts Turnover ( in Cr. ) Change (%) 193948 19037.49 45.28 14693057 1607186.67 181.39 1042569 76933.48 18.80 967907 78027.62 25.02 Total 174623.63 173342.46 1281.17 2471125 203265.81 0.61 TOTAL 16897481 1781185.26 150.36 Nifty Spot = 11582.75 Bull-Call Spreads Action Strike Price Risk Reward BEP Bear-Put Spreads Action Strike Price Risk Reward BEP Buy 11600 59.20 Sell 11700 20.45 38.75 61.25 11638.75 Buy 11600 67.40 Sell 11500 34.60 32.80 67.20 11567.20 Buy 11600 59.20 Sell 11800 5.40 53.80 146.20 11653.80 Buy 11600 67.40 Sell 11400 17.60 49.80 150.20 11550.20 Buy 11700 20.45 Sell 11800 5.40 15.05 84.95 11715.05 Buy 11500 34.60 Sell 11400 17.60 17.00 83.00 11483.00 Note: Above mentioned Bullish or Bearish Spreads in Nifty (August 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 368 376 381 389 394 ASIANPAINT 1,378 1,386 1,399 1,408 1,420 AXISBANK 619 625 635 641 651 BAJAJ-AUTO 2,635 2,661 2,700 2,725 2,765 BAJFINANCE 2,854 2,874 2,891 2,911 2,929 BAJAJFINSV 7,008 7,050 7,117 7,160 7,227 BPCL 349 353 361 366 374 BHARTIARTL 363 366 372 375 380 INFRATEL 278 281 286 289 294 CIPLA 646 652 659 664 671 COALINDIA 283 286 290 293 297 DRREDDY 2,375 2,419 2,470 2,514 2,565 EICHERMOT 28,186 28,476 28,651 28,941 29,116 GAIL 376 380 383 387 390 GRASIM 1,023 1,034 1,051 1,062 1,079 HCLTECH 1,003 1,014 1,021 1,033 1,039 HDFCBANK 2,058 2,069 2,088 2,099 2,118 HDFC 1,866 1,886 1,921 1,941 1,975 HEROMOTOCO 3,225 3,255 3,295 3,325 3,365 HINDALCO 215 218 222 226 230 HINDPETRO 254 257 261 264 269 HINDUNILVR 1,745 1,759 1,771 1,785 1,797 IBULHSGFIN 1,249 1,261 1,276 1,288 1,302 ICICIBANK 333 335 337 339 341 IOC 148 151 154 157 160 INDUSINDBK 1,938 1,948 1,962 1,971 1,986 INFY 1,379 1,388 1,395 1,404 1,411 ITC 303 307 312 316 321 KOTAKBANK 1,224 1,236 1,250 1,262 1,276 LT 1,300 1,326 1,345 1,371 1,390 LUPIN 876 890 904 917 932 M&M 947 955 962 971 978 MARUTI 9,037 9,130 9,193 9,286 9,349 NTPC 158 161 163 166 168 ONGC 168 170 171 173 175 POWERGRID 186 188 190 192 193 RELIANCE 1,225 1,247 1,261 1,283 1,296 SBIN 294 298 303 307 311 SUNPHARMA 629 634 640 645 651 TCS 2,013 2,024 2,031 2,042 2,049 TATAMOTORS 248 252 261 265 274 TATASTEEL 561 566 576 581 590 TECHM 696 711 725 740 754 TITAN 896 904 915 923 934 ULTRACEMCO 4,265 4,306 4,345 4,386 4,425 UPL 630 640 649 659 668 VEDANTA 209 212 215 218 222 WIPRO 286 288 290 292 295 YESBANK 377 383 389 395 401 ZEEL 497 501 509 513 521
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