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Market Wrap
Participants wise OI Activity
Market Insight 6th Dec, 2018
Bank Nifty Activity
Technical View
Indian shares finished Wednesday's session notably lower after the Reserve Bank of India ( RBI) left its key interest rate unchanged for a second policy session in a row and said it sees upside risks to the inflation outlook. The central bank maintained its policy stance of "calibrated tightening" while reducing the statutory liquidity ratio to make banks increase their lending. BSE Sensex fell 249.90 points or 0.69 percent to 35,884.41, with weak global cues, rising oil prices ahead of an OPEC meeting and weakness in the rupee weighing on markets. Nifty ended down 84.55 points or 0.74 percent at 10,784.95. All 19 sector gauges compiled by BSE ended lower led by the S&P BSE Metal Index's 3.8 percent loss. JSW Steel, Cipla, Tata Motors, Vedanta, Indiabulls Housing Finance, Tata Steel, Hindalco and Sun Pharma lost 3-6 percent. On the data front, India's private sector expanded at the fastest pace in over 2 years during November with both manufacturing and services growing at stronger rates amid an increase in demand, survey data from IHS Markit showed. The Nikkei India Composite purchasing managers' index rose to 54.5 in November from 53 in October, marking the strongest print since October 2016.
Nifty opened with down gap of 48 points at 10820 levels in yesterday’ session. Index took clues from global market where US Dow Jones plunged by 800 points overnight and Asian equities also had mix early session. Overall market remained in bearish mode throughout the session and fell to low of 10748 levels before signing off the day loss of 86 points at 10783 levels. Nifty found support at intraday low of 10748 levels and this is exactly same levels where 200 DMA is placed. From last four session’s price is forming bearish candle which indicates balance is slowly shifting towards bearish side. On hourly chart, price is still holding in rising channel but it has drifted below 50 period SMA. 200 DMA levels of 10748 has now become crucial support levels for the index, if this levels break decisively there could be further fall towards 10690 levels. On higher side resistance are at 10820 and 10870. Expect market to remain in down trend and rise should be used as selling opportunity.
NSE Indices Curr Close Points Chg Chg %
NIFTY 10782.9 -86.6 -0.8
NIFTY 100 10989.15 -97.25 -0.88
NIFTY 500 9029.45 -87 -0.95
NIFTY MIDCAP 17331.2 -257.35 -1.46
INDIA VIX 18.39 0.2825 1.56
BSE Indices Curr Close Points Chg Chg %
SENSEX 35884.41 -249.9 -0.69
BSE 100 11023.07 -103.78 -0.93
BSE200 4589.41 -42.93 -0.93
BSE 500 14315.92 -138.39 -0.96
BSE MID CAP 14913.6 -184 -1.22
BSE SMALL CAP 14337.9 -176.32 -1.21
Sectorial Indices Curr Close Points Chg Chg %
NIFTY AUTO 8992.9 -219.3 -2.38
NIFTY FIN SERVICE 11316.75 -34.55 -0.3
NIFTY FMCG 29936.2 -214.5 -0.71
NIFTY IT 15012.95 13.05 0.09
NIFTY MEDIA 2499.55 -42.5 -1.67
NIFTY METAL 3119.6 -116.95 -3.61
NIFTY PHARMA 8812.2 -252.2 -2.78
NIFTY PSU BANK 2879.65 -25.15 -0.87
NIFTY PVT BANK 14964.7 -145.25 -0.96
NIFTY REALTY 234.95 -1.8 -0.76
NIFTY COMMODITIES 3368.85 -67.45 -1.96
NIFTY CONSUMPTION 4869.2 -39.2 -0.8
NIFTY CPSE 1990.65 -38.5 -1.9
NIFTY ENERGY 14294.25 -64.85 -0.45
NIFTY INFRA 3058.75 -50.05 -1.61
NIFTY MNC 13680.4 -158.35 -1.14
NIFTY SERV SECTOR 14805.7 -60.35 -0.41
NIFTY PSE 3231.75 -61.95 -1.88
NIFTY BANK 26519.6 -174.2 -0.65
Nifty 50 Top 3 Gainers Curr Close Points Chg Chg %
HINDUSTAN UNILEV 1848.1 40.45 2.24
HOUSING DEV FIN 1973.3 33.85 1.75
HCL TECH LTD 1051.05 14.8 1.43
Nifty 50 Top 3 Losers Curr Close Points Chg Chg %
SUN PHARMA INDU 412.95 -29.95 -6.76
HINDALCO INDS 221.35 -12 -5.14
TATA STEEL LTD 517.7 -20.5 -3.81
Exchange Advance Decline Unchg
NSE 467 1242 353
BSE 746 1826 146
Nifty Derivative Activity
Participants wise OI Activity
1.8
3.0
9.9
7.2
14.6
16.9
25.1
37.1
24.3
23.1
13.9
16.1
23.7
47.4
22.3
36.1
25.0
14.4
37.8
1.6
3.6
3.1
-
10.00
20.00
30.00
40.00
50.00
Tho
usa
nd
s C
on
trac
ts
CE
PE
-0.0
-0.2
-0.5
-0.3
-0.1
2.2
0.7
0.7
3.4
3.2
1.5
-0.8
0.6
0.4
0.4
0.9
-2.2
-1.7
-3.4
-0.2
-0.1
-0.2
(4.00)
(2.00)
-
2.00
4.00
Tho
usa
nd
s C
on
trac
ts
CE
PE
Bank Nifty Derivative Activity
OI
OI Change
Client 37.0%
DII 11.2%
FII 44.3%
Pro 7.4%
46.3%
73.8%
48.8%
39.4%
53.7%
26.2%
51.2%
60.6%
Client
DII
FII
Pro
Future Index Long Future Index ShortParticipant wise OI Activity ( Fig in ‘000 Contracts) Index Future OI %
Participant Type
Index Fut Activity
Call Activity
Put Activity
Client 11.4 80.3 19.6
DII 1.7 0.0 0.1
FII -18.9 6.3 -22.4
Pro 5.7 -86.6 2.6
Index NIFTY Change
Fut Closing 10827.65 -0.7%
Prem /Disc 44.75 6.50
OI Qty 2.09 cr. 3.2%
Nifty PCR 1.28
Highest OI 11000 CE 10000 PE
• Yesterday, FII had added Short 18.9K Contracts in Index Futures and Clients had done Short Covering of 11.4K Contracts
• FII had added Call Long by 6.3K Contracts and done Put Long Unwinding of 22.4K Contracts
• Clients had added Call Long by 80.3K Contracts and added Put Long by 19.6K Contracts
• Yesterday NIFTY future was down -0.73% with increase in O I by 3.2%. Put O I Reduction was seen at 11000 followed by 10800 and Call O I addition was seen at 11100 followed by 11200.
• As per current option data Immediate Resistance & Major Resistance is around 11000.
• As per current option data Immediate support is around 10700 & Major Support is around 10500.
0.00 20.00 40.00 60.00 80.00 100.00 120.00
Rollover (%) Delivery (%) Fut Vol Chng(%) Fut OI Chng(%) Price Chng(%)
1.4
1.4
3.4
11.4
2.7
37.4
50.9
44.1
42.5
73.5
DIVISLAB
COALINDIA
BEL
PFC
NTPC
-4.3
-4.3
-5.5
-0.9
-7.2
12.5
13.3
14.8
39.9
42.4
LICHSGFIN
ASHOKLEY
INDIGO
IOC
SUNPHARMA
5.6
8.7
-4.7
-7.2
3.7
55.6
60.3
74.6
82.3
88.4
JUBLFOOD
TATAPOWER
GLENMARK
SUNPHARMA
HINDUNILVR
3.4
1.4
1.5
-0.9
2.7
66.7
89.8
97.3
129.6
133.2
BEL
COALINDIA
ONGC
IOC
NTPC
Index BANKNIFTY Change
Fut Closing 26643.8 -0.6%
Prem/Disc 124.20 4.70
OI Qty 0.64 cr. -1.1%
Highest OI 26000 CE | 26000 PE
• Yesterday BANKNIFTY future was down -0.63% with decrease in O I by 1.14%.
• Put O I Reduction was seen at 26600 followed by 26500.
• Call O I addition was seen at 26800 followed by 26700 which can act as short term resistance. .
1.0
0.2
0.9
1.5
1.5
9.9
13
.7
18
.6
25
.1
22
.8 4
3.9
19
.3
9.2
12
.4
15
.1
14
.7
18
.0
7.2
7.7
3.7
0.9
1.9
-
20
40
60Th
ou
san
ds
Co
ntr
acts
CE
PE-0
.2
0.1
0.1
-0.0
0.5
3.4
11.4
13.0
15.7
11.3
12.6
4.3
3.8
3.9
4.9
0.4
-9.6
-4.9
-2.9
-3.1
-2.2
-0.8
(20)
(10)
-
10
20
Tho
usa
nd
s C
on
trac
ts
CE
PE
OI
OI Change
Market Buzz
• OPEC: Saudi Arabia, Russia and other members of the OPEC+ group recommended an oil production cut. The committee didn’t discuss specific numbers and there’s still debate on the scale of the cut that’s needed. Al Rumhy said the group could eventually agree to remove about 1 million barrels a day from the market -- just over 1 percent of global output -- but a delegate from another country said some members believe a smaller reduction is adequate. Ministers from the core OPEC group, which doesn’t include Russia, will now meet on Thursday to seek a consensus on exactly who will cut and by how much. While Saudi Arabia, the group’s biggest producer, will shoulder most of the burden, the kingdom wants commitments from other countries before completing a final deal.
• the Monetary Policy Committee kept the benchmark policy rate unchanged for the second consecutive meeting. The monetary policy stance also remains unchanged at 'calibrated tightening' even though a sharp cut in inflation projections may suggest a pause in interest rates for the foreseeable future. Following the review, the repo rate remains unchanged at 6.5 percent. The reverse repo rate has been held at 6.25 percent. 48 of the 52 economists polled by Bloomberg had expected a status quo in rates. Despite calls for a cut in the cash reserve ratio to ease liquidity, the RBI choose to retain it at 4 percent. Instead, it reassured the market of an “elevated” level of bond purchases continuing via open market operation until March. The central bank also said that the Statutory Liquidity Ratio would be brought down by 25 basis points in January 2019, in line with its stated intention to reduce this reserve over time.
• Lupin: USFDA completed their inspection at Mandideep location with observations. Mandideep location houses the company's cardiovascular Pril API facilities, Cephalosporin API facilities and Cephalosporin Solid Oral Dosage Form facility. The inspections were carried out between November 26 and December 4, 2018. The inspection at Unit-2, the Cardiovascular Pril API facilities closed with 4 observations. The inspection at Unit-I, the Cephalosporin facilities closed with 10 observations for the Cephalosporin API facilities and 8 observations for the Cephalosporin Solid Oral Dosage Form facility. here are no new DMF and ANDA applications pending for review or approval from Lupin's Mandideep facilities.
• Tata Motors: JLR UK's total sales increased to 9,055 units in November 2018 versus 8,895 units; Jaguar sales falls to 2,716 units versus 6,241 units and Land Rover sales rise to 6,339 units versus 6,241 YoY.
• Reliance Jio: The Supreme Court dismissed the Competition Commission of India’s plea to allow it to probe Reliance Jio Infocomm Ltd.’s allegations of cartelisation against its older rivals— Vodafone India Ltd., Idea Cellular Ltd. and Bharti Airtel Ltd. The bench, headed by Justice AK Sikri, was hearing the CCI’s appeals challenging a judgment passed by the Bombay High Court. The high court in September had ruled against the probe saying the CCI doesn’t have the jurisdiction to order a probe when there is a sector-specific regulator—in this case the Telecom Regulatory Authority of India. Reliance Jio in November 2016 filed a complaint with the CCI alleging that the incumbents were abusing their dominant position to prevent it from accessing points of interconnection.
• Power Grid Corporation Power Grid Corporation of India was declared a successful bidder under tariff based competitive pricing to establish transmission system for 2X660MW Thermal Power Project and construction of 400Kv substation with associated lines in Uttar Pradesh.
• Cabinet will consider the proposal for PFC acquiring entire government holding in state-owned REC, which will fetch the government around Rs 15,000 crore
• Tata Communications said it will collaborate with UROS Group to deploy Internet of Things and Smart City Solutions across large commercial and public sectors organizations globally.
• Adani Green Energy’s Adani Green Energy’s arm won a contract for 390 MW Wind-Solar Hybrid Auction at Rs 2.69 per
KW-hour, said Sanjay Sharma, General Manager of Solar Energy Corporation of India. In the auctions for 840MW worth of project the remaining tender was won by Softbank’s India JV for clean energy at a price of Rs 2.67 per KW-hour.
• Avenue Supermarts has issued commercial paper of Rs 100 crore.
• Nestle India Board declared third interim dividend of Rs 50 per share for the year 2018.
Nifty 50 Daily Volatility Levels
ADANIPORTS 375.9 Neutral Neutral 380 360 390.1 382.9 378.0 375.7 373.3 368.5 361.2
ASIANPAINT 1335.7 Neutral Neutral 1400 1320 1375.0 1355.4 1342.3 1336.0 1329.6 1316.5 1296.9
AXISBANK 617.9 Long Unwinding Down 640 600 642.2 631.9 625.0 621.7 618.4 611.4 601.2
BAJAJ-AUTO 2770.9 Neutral Neutral 3000 3000 2860.8 2817.4 2788.2 2774.3 2760.3 2731.1 2687.7
BAJAJFINSV 5933.3 Short Built-up Down 6000 6000 6242.0 6126.9 6049.3 6012.2 5975.1 5897.5 5782.4
BAJFINANCE 2506.15 Long Unwinding Down 2600 2400 2645.0 2586.5 2547.0 2528.2 2509.3 2469.8 2411.3
BHARTIARTL 313.75 Short Built-up Down 350 300 332.4 324.6 319.3 316.8 314.2 309.0 301.1
BPCL 329.75 Short Built-up Neutral 350 320 351.1 341.3 334.7 331.5 328.3 321.7 311.9
CIPLA 529.9 Neutral Down 600 530 560.3 549.2 541.7 538.2 534.6 527.1 516.0
COALINDIA 242.65 Short Built-up Down 255 240 253.1 249.5 247.0 245.8 244.6 242.2 238.5
DRREDDY 2679.95 Neutral Neutral 3000 3000 2807.1 2751.3 2713.6 2695.6 2677.6 2639.9 2584.0
EICHERMOT 22912.25 Neutral Down 25000 22500 24191.9 23693.2 23357.0 23196.1 23035.2 22699.0 22200.3
GAIL 350.8 Neutral Down 360 366.4 359.8 355.3 353.2 351.0 346.6 340.0
GRASIM 828.3 Short Built-up Down 900 800 875.0 856.3 843.8 837.8 831.7 819.2 800.5
HCLTECH 1056.35 Long Built-up Up 1060 1000 1090.5 1069.5 1055.4 1048.6 1041.9 1027.7 1006.8
HDFC 1980.1 Long Built-up Up 2020 1900 2027.2 1996.0 1975.0 1965.0 1954.9 1933.9 1902.7
HDFCBANK 2110.5 Neutral Up 2200 2000 2146.5 2124.7 2110.0 2103.0 2096.0 2081.3 2059.5
HEROMOTOCO 3062.45 Neutral Neutral 3100 3000 3179.3 3122.0 3083.4 3064.9 3046.4 3007.7 2950.4
HINDALCO 222.3 Long Unwinding Down 250 210 239.6 233.8 229.8 228.0 226.1 222.1 216.3
HINDPETRO 227.25 Neutral Neutral 260 200 244.7 236.5 230.9 228.2 225.6 220.0 211.7
HINDUNILVR 1853.35 Long Built-up Up 1860 1800 1896.9 1866.0 1845.2 1835.2 1825.3 1804.4 1773.5
IBULHSGFIN 777.25 Long Unwinding Down 720 700 857.4 824.1 801.6 790.8 780.1 757.6 724.2
ICICIBANK 353 Long Unwinding Down 360 350 368.6 362.5 358.4 356.4 354.4 350.3 344.1
INDUSINDBK 1610.5 Short Built-up Down 1700 1600 1692.0 1659.5 1637.5 1627.1 1616.6 1594.6 1562.1
INFRATEL 259 Neutral Up 270 250 264.8 261.1 258.7 257.5 256.3 253.8 250.1
INFY 684.95 Neutral Neutral 700 620 709.8 697.8 689.7 685.9 682.0 673.9 661.9
IOC 133.1 Neutral Neutral 140 130 141.1 137.5 135.1 134.0 132.8 130.4 126.8
ITC 276.75 Short Built-up Down 320 260 287.1 283.5 281.1 280.0 278.8 276.4 272.8
JSWSTEEL 305.9 Short Built-up Down 320 300 321.1 315.7 312.1 310.3 308.6 304.9 299.5
KOTAKBANK 1217.7 Long Unwinding Neutral 1300 1160 1261.9 1242.8 1229.9 1223.8 1217.6 1204.7 1185.7
LT 1402.3 Neutral Down 1440 1400 1448.1 1431.0 1419.5 1414.0 1408.5 1397.0 1379.9
M&M 721.9 Short Built-up Down 800 700 763.8 748.4 738.0 733.1 728.1 717.7 702.3
MARUTI 7590.8 Short Built-up Down 8000 7000 7930.4 7799.7 7711.7 7669.5 7627.4 7539.3 7408.7
NTPC 140.4 Neutral Down 150 140 145.3 143.3 142.0 141.4 140.7 139.4 137.5
ONGC 142.4 Short Built-up Down 150 140 149.3 146.5 144.6 143.8 142.9 141.0 138.2
POWERGRID 184.25 Short Built-up Down 190 180 190.6 188.0 186.2 185.4 184.5 182.7 180.1
RELIANCE 1161.25 Long Built-up Neutral 1200 1100 1196.3 1177.6 1165.0 1158.9 1152.9 1140.3 1121.6
SBIN 281.5 Short Built-up Neutral 300 280 292.6 287.6 284.3 282.7 281.0 277.7 272.7
SUNPHARMA 415.05 Short Built-up Down 500 400 457.4 443.7 434.5 430.1 425.7 416.5 402.8
TATAMOTORS 169.6 Short Built-up Down 200 170 181.0 177.0 174.2 172.9 171.6 168.9 164.8
TATASTEEL 519.55 Short Built-up Down 600 500 548.7 539.0 532.5 529.4 526.3 519.8 510.2
TCS 2017.05 Short Built-up Neutral 2060 1700 2090.3 2054.3 2029.9 2018.3 2006.6 1982.3 1946.2
TECHM 727.2 Long Built-up Neutral 720 720 754.3 740.1 730.5 726.0 721.4 711.8 697.7
TITAN 925.3 Short Built-up Neutral 1000 900 955.4 941.2 931.6 927.0 922.4 912.9 898.6
ULTRACEMCO 3985.8 Long Unwinding Down 4100 4000 4137.8 4077.3 4036.4 4016.9 3997.4 3956.5 3896.0
UPL 752.9 Short Built-up Neutral 800 700 783.8 768.9 758.9 754.1 749.3 739.2 724.3
VEDL 199.3 Long Unwinding Down 220 190 212.5 207.8 204.7 203.2 201.7 198.6 193.9
WIPRO 337.35 Long Built-up Neutral 340 320 348.1 342.3 338.4 336.5 334.7 330.8 325.0
YESBANK 174.2 Long Unwinding Neutral 180 150 192.4 184.0 178.3 175.6 172.9 167.2 158.7
ZEEL 479.4 Short Built-up Down 500 470 500.7 491.8 485.8 482.9 480.0 474.0 465.1
Symbol Futures
Close O I Activity Trend
Highest Call OI
Highest Put OI
R3 R2 R1 Mid
Point S1 S2 S3
BANKNIFTY 26643.8 Neutral Down 26000 26000 27200.0 26963.9 26804.7 26728.6 26652.4 26493.2 26257.1
NIFTY 10827.65 Neutral Down 11000 10000 11043.5 10955.5 10896.1 10867.7 10839.3 10779.9 10691.9
DISCLOSURES
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Mr. Prashant Barwaliya Head- Research [email protected]
Mr. Yash Doshi Fundamental Analyst [email protected]
Mr. Smeet Gala Fundamental Analyst [email protected]
Mr. Kunal Kame Technical Analyst [email protected]
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