Sensex (37922) / Nifty (11438) Exhibit 1: Nifty Daily Chart A weakening in Rupee continues to put lot of burden on our markets as the opening of USDINR beyond the 72.15 mark led to a sluggish start for our equity markets. Subsequently, as the day progressed, the pressure aggravated in the currency and hence, our markets had to undergo a severe correction to eventually conclude near the lowest point of the day with a loss of 1.30%. The labored gains posted in the last two sessions of the previous week were completely wiped off due to yesterday's massive selloff. Technically speaking, we witnessed a typical price action similar to last Monday's selloff forming a big black body candle on the daily chart. Going ahead, if we see any follow through selling today then we may see index retesting last week's low of 11393.85. However, we will closely watch how prices react around the said levels which coincide with the low of 'Bullish Hammer' pattern. A break below 11390 may extend the correction towards 11340 levels. Since the larger degree charts are still positive, we would like to highlight the bullish scenario as well. If index manages to hold the same support zone then we may see a decent bounce back towards 11500-11540 levels. At this juncture, traders are advised not to take aggressive positions and should rather keep focusing on individual stocks with a proper exit strategy. Key Levels Support 1 11390 Resistance 1 11500 Support 2 11340 Resistance 2 11540 Nifty Bank Outlook - (27202) Exhibit 2: Nifty Bank Daily Chart The Nifty Bank Index too witnessed a lower opening and remained under pressure throughout the session to end with a loss of a percent. In our previous article, we had mentioned the trading range of 27553-27136 and yesterday the index after making a low of 27142 has just closed above the lower end of the range. Going with the bearish momentum, we sense the Bank Index is likely to break the lower range and may correct further lower towards the psychological level of 27000. The said levels coincide with 89EMA and we will closely watch how the index reacts around this level. In such a scenario, traders are advised to focus on stock specific ideas which are providing opportunities on both the sides of the trade. As far as levels are concerned, immediate support is placed around 27100-27000 whereas resistance is placed around 27400-27553. Key Levels Support 1 27100 Resistance 1 27400 Support 2 27000 Resistance 2 27553
Comments The Nifty futures open interest has decreased by 0.39% Bank Nifty futures open interest has increased by 11.42% as market closed at 11438.10 levels. The Nifty September future closed with a premium of 54.60 points against a premium of 43.85 points in last trading session. The October series closed at a premium of 93.55 points. The INDIA VIX has increased from 13.89 to 15.20. At the same time, the PCR- of Nifty has decreased from 1.49 to 1.33. Few of the liquid counters where we have seen high cost of carry are BALRAMCHIN, INFIBEAM, UPL, SUZLON and CESC. Nifty Vs Views FIIs were net sellers in cash market segment to the tune of Rs. 842 crores. At the same time, they sold worth Rs. 631 crores in index futures with rise in open interest, indicating short formation in yesterday s trading session In options front, they bought worth Rs. 1516 crores with rise in open interest. As far as Nifty options activities are considered, 11500-11800 call options added good amount of positions. On the flip side, 11400-11700 put options shed decent positions. Maximum open interest for September series is placed at 11800 followed by 11600 call and 11400 followed by 11500 put options. We started-off the week on a slightly negative note and remained under-pressure thereafter to eventually conclude the session with a cut of 1.3%. Despite strong selling pressure, we hardly saw any relevant open interest change in Nifty futures; in fact, we saw rise in premium by 10.75 points. At the same time, good amount of longs formed earlier are still in system. Now, 11380-11400 is a crucial support zone for index and any up move from these levels shall bring index back to 11600-11650 levels. Thus, traders are advised keeping a close watch on above mentioned levels and trade accordingly. Gainers MFSL 2854800 19.01 504.65 6.65 TORNTPOWER 2577000 17.51 253.60-6.02 MANAPPURAM 20016000 13.90 91.05-5.18 BALRAMCHIN 11165000 12.17 79.00 1.85 TATAGLOBAL 17786250 11.13 222.00-0.42 HAVELLS 4485000 9.82 641.35-4.69 L&TFH 34551000 8.75 161.15-4.24 GLENMARK 3917000 8.44 686.80 0.36 Losers HEXAWARE 4756500-10.65 455.70 2.73 NIITTECH 1366500-6.66 1402.70 2.11 PETRONET 13563000-5.04 244.00 0.51 ARVIND 10082000-4.67 403.20 1.82 CONCOR 2208750-4.28 659.30-0.43 WOCKPHARMA 3479400-4.07 653.40-2.58 MGL 3098400-4.07 844.90-1.19 BATAINDIA 1516900-3.97 1037.15-1.88 Historical Volatility HV BERGEPAINT 40.13 UJJIVAN 37.69 BAJAJFINSV 30.92 MANAPPURAM 43.02 M&M 32.26 Put-Call Ratio PCR- PCR-VOL NIFTY 1.33 0.93 BANKNIFTY 0.84 0.82 RELIANCE 0.54 0.66 ICICIBANK 0.45 0.58 INFY 0.53 0.42
FII Statistics for September 10, 2018 Turnover on September 10, 2018 Detail Buy Sell Net Contracts Open Interest Value (in Cr.) Change (%) 3126.26 3756.85 (630.59) 296586 25778.38 5.36 95132.71 93616.69 1516.03 948192 84319.59 7.31 13269.88 13978.14 (708.26) 1174480 88034.07 1.25 9898.19 10073.53 (175.34) 118444 8829.70 8.65 Instrument No. of Contracts Turnover ( in Cr. ) Change (%) 234863 22432.39 7.82 6367231 661434.91 25.45 858871 61323.67-10.83 731494 56300.47-8.27 Total 121427.05 121425.20 1.84 2537702 206961.75 4.26 TOTAL 8192459 801491.44 18.18 Nifty Spot = 11438.10 Bull-Call Spreads Action Strike Price Risk Reward BEP Bear-Put Spreads Action Strike Price Risk Reward BEP Buy 11500 128.95 Sell 11600 82.60 46.35 53.65 11546.35 Buy 11400 99.00 Sell 11300 70.10 28.90 71.10 11371.10 Buy 11500 128.95 Sell 11700 49.50 79.45 120.55 11579.45 Buy 11400 99.00 Sell 11200 49.80 49.20 150.80 11350.80 Buy 11600 82.60 Sell 11700 49.50 33.10 66.90 11633.10 Buy 11300 70.10 Sell 11200 49.80 20.30 79.70 11279.70 Note: Above mentioned Bullish or Bearish Spreads in Nifty (September 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 363 367 375 380 388 ASIANPAINT 1,260 1,276 1,297 1,314 1,335 AXISBANK 623 637 658 672 692 BAJAJ-AUTO 2,790 2,829 2,889 2,928 2,988 BAJFINANCE 2,508 2,562 2,650 2,704 2,792 BAJAJFINSV 6,148 6,248 6,414 6,514 6,680 BPCL 335 339 348 353 362 BHARTIARTL 374 381 389 397 405 INFRATEL 270 273 276 279 282 CIPLA 656 662 670 676 684 COALINDIA 274 277 282 284 289 DRREDDY 2,488 2,526 2,593 2,631 2,698 EICHERMOT 28,374 28,499 28,674 28,799 28,974 GAIL 366 372 376 382 386 GRASIM 992 1,004 1,018 1,030 1,044 HCLTECH 1,068 1,078 1,088 1,098 1,107 HDFCBANK 2,011 2,026 2,040 2,056 2,070 HDFC 1,855 1,869 1,893 1,907 1,930 HEROMOTOCO 3,214 3,246 3,290 3,323 3,367 HINDALCO 229 232 238 241 247 HINDPETRO 241 244 249 252 257 HINDUNILVR 1,582 1,596 1,618 1,632 1,655 IBULHSGFIN 1,119 1,140 1,174 1,195 1,229 ICICIBANK 328 330 333 336 338 IOC 149 150 151 153 154 INDUSINDBK 1,786 1,808 1,840 1,861 1,894 INFY 718 725 736 742 753 ITC 302 304 308 310 313 KOTAKBANK 1,200 1,212 1,227 1,238 1,253 LT 1,324 1,331 1,341 1,348 1,358 LUPIN 911 928 957 974 1,003 M&M 908 923 949 964 991 MARUTI 8,546 8,593 8,671 8,718 8,796 NTPC 166 168 170 171 173 ONGC 166 167 169 171 173 POWERGRID 188 190 193 195 198 RELIANCE 1,234 1,245 1,261 1,272 1,288 SBIN 278 281 287 291 297 SUNPHARMA 615 626 647 658 679 TCS 2,064 2,072 2,083 2,091 2,102 TATAMOTORS 266 271 276 281 287 TATASTEEL 603 608 617 622 630 TECHM 749 758 767 776 785 TITAN 841 849 859 867 877 ULTRACEMCO 4,062 4,108 4,184 4,230 4,306 UPL 687 695 709 717 731 VEDANTA 215 219 227 231 238 WIPRO 321 323 325 328 330 YESBANK 310 317 323 330 336 ZEEL 458 465 472 479 485
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