Nifty Close Trend R1 R2 S1 S2

11588.35 Consolidation 11723 11895 11483 11340

SENSEX NIFTY INDIAVIX BANKNIFTY 10YR G-SEC USDINR

38963.84 -0.85%

11588.35 -0.63%

16.81 5.54%

29411.15 1.00%

6.54 0.37%

70.94 0.29%

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• Bajaj Finserv has reported a 71 per cent jump in its consolidated net profit to Rs 1,204 Crore. Total income rose by 47 per cent to Rs 14,224 crore during the reported quarter of 2019-20, as against Rs 9,698 crore a year ago period. Positive for Bajaj Finserv.

• Asian Paints posted revenue of Rs. 5,050.66 crore, up 9.4% YoY, for the second quarter of FY2020, the EBITDA was at Rs. 954.32 crore, up 13% over last year and the operating margins expanded to 18.9% vs. 18.3% over last year, but fell short of the analyst expectations. The net profit of Rs. 823.41 crore, which rose 67.5% on YoY basis as the company made a deferred tax reversal to the tune of 150 crore in the quarter. Positive for Asian Paints

• Kotak Mahindra Bank posted the Net Interest Income for Q2 FY20 up 25% over last year, with the NIMs at 4.61%. The GNPA for the bank rose 13 bps to 2.32% and NNPA rose 12 bps to 0.85%, over last year and made provisions an increase of 28% on Q o Q basis. The profit after tax posted by the bank was up 51% over last year. Positive for Kotak Mahindra Bank

• Axis Bank Q2: Net loss at Rs 112.1 crore versus profit at Rs 789.6 crore driven by a one-time tax impact of Rs 2,138 crore due to changes in corporate tax rate, NII up 16.6 percent to Rs 6,102 crore versus Rs 5,232.1 crore YoY. Negative for Axis Bank.

• RBL Bank Q2: Profit falls 73 percent to Rs 54 crore versus Rs 204.6 crore, NII rises 47 percent to Rs 869 crore versus Rs 593 crore YoY. Negative for RBL Bank.

• Ujjivan Small Finance Bank has received markets regulator Sebi's go ahead to raise Rs 1,200 crore through an initial public offer (IPO). Microfinance lender Ujjivan Financial Services is the holding company of Ujjivan Small Finance Bank. Positive for Ujjivan Small Finance.

• Results on October 23: L&T, Bajaj Auto, Hero MotoCorp, HDFC Life, Biocon, Aarti Drugs, Havells, Hexaware, JSW Steel, HCL Technologies, KPIT Technologies, and NIIT Technologies

Market Insight 23rd Oct 2019

Nifty Short Term View

News Buzz

Indian shares fell on Tuesday to snap a six-day winning streak as Infosys shares crashed after whistleblowers accused effort to shore up profits through irregular accounting. Nifty index ended down 71.95 points, at 11,589.90. Nifty formed small body red candle on a daily chart where it formed triangle pattern and the resistance near recent high. As well as on nifty RSI faced resistance at 65 level. further positive movement can only seen if nifty sustain above 11723 level.

4.7

3.4

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17.7

13.3

28.0

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6.8

-1.3

-1.1

-1.9

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-0.6

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PE

OI

OI Change

Client 50.8%

DII 12.4%

FII 27.5%

Pro 9.3%

Index Fut OI %

48.0%

76.9%

46.4%

35.8%

52.0%

23.1%

53.6%

64.2%

Client

DII

FII

Pro

Future Index Long % Future Index Short %

Participant wise OI Activity ( Fig in ‘000 Contracts) Index Future OI %

Participant Type

Index Fut Activity

Call Activity

Put Activity

Retail -3.9 57.5 0.6

DII -5.8 3.06 0.0

FII 13.1 -9.57 11.7

Pro -3.4 -51.00 -12.4

Index NIFTY Change

Fut Closing 11624.35 -0.4%

Prem /Disc 36.00 27.85

OI Qty 1.67 cr. 6.9%

Nifty PCR 0.96

Highest OI 12000 CE 11000 PE

• FII added long Index future by 13.1k contracts and Client added short Index future by 3.9k contracts

• FII unwounded the long calls by 9.6k contracts and added long puts by 11.7 k contracts

• Client added Long calls by 57.5k contracts and added long puts by 0.6 k contracts

• Yesterday NIFTY future was down 0.39% with increase in O I by 6.86%.

• Put O I addition was seen at 11550 followed by 11700 which can act as short term support

• Call O I addition was seen at 11700 followed by 11800. which can act as short term resistance

Index BANKNIFTY Change

Fut Closing 29492.5 1.2%

Prem/Disc 81.35 49.25

OI Qty 0.15 cr. -8.0%

Highest OI 30000 CE 28000 PE

• Yesterday BANKNIFTY future was up 1.17% with decrease in O I by 7.96%.

• Put O I addition was seen at 29000 followed by 29500 which can act as short term support.

• Call O I addition was seen at 30000 followed by 29800 which can act as short term resistance.

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(4) (2) - 2 4 6 8

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OI Change

Derivative Activity

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Stock Future & Option Activity

Open Interest Gainers

Symbol Trend Future Price

Price Chng %

Fut OI Chng %

INFY Bearish 638.05 -16.0% 48.3%

JUBLFOOD Bullish 1429.2 5.5% 24.6%

INDIGO Bullish 1676.1 -3.1% 15.0%

CONCOR Bearish 610.6 -0.5% 12.5%

UJJIVAN Bearish 312.3 1.4% 12.2%

Open interest Losers

Symbol Trend Future Price

Price Chng %

Fut OI Chng %

YESBANK Bearish 51.85 0.6% -17.2%

NATIONALUM Bearish 43.9 0.3% -11.5%

HDFCBANK Bullish 1243.95 1.2% -11.2%

JUSTDIAL Bearish 627.55 -1.3% -10.3%

PFC Bearish 101.65 3.3% -8.3%

Volume Gainers

Symbol Trend Future Price

Price Chng %

3 Day Vol Chng %

JUBLFOOD Bullish 1429.2 5.5% 110.8%

SHREECEM 19604 4.6% 108.8%

PETRONET Bullish 275.45 2.7% 104.8%

KOTAKBANK Bullish 1634.7 1.2% 85.4%

BHARTIARTL Bullish 373.6 -2.9% 69.3%

Highest Position Carry forward %

Symbol Trend Future Price

Price Chng %

O I Chng / Volume

TATAPOWER Bearish 59.45 -1.2% 39.2%

IDFCFIRSTB Bearish 39.4 0.0% 27.7%

NESTLEIND Bullish 15058.05 1.3% 20.5%

HINDPETRO Bullish 317.9 1.0% 19.7%

PIDILITIND Bearish 1355.95 0.0% 18.7%

Stocks Near Highest Call Open Interest

Symbol Trend Future Price

Highest Call OI

No of Contracts

DLF Bullish 177.9 180 625

COALINDIA Bullish 209.45 210 452

NCC Bearish 53.95 55 446

Stocks Near Highest Put Open Interest

Symbol Trend Future Price

Highest Put OI

No of Contracts

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Symbol Futures

Close O I Activity Trend

Highest Call OI

Highest Put OI

R3 R2 R1 Mid

Point S1 S2 S3

BANKNIFTY 29492.5 Short Covering Neutral 30000 28000 30413.3 29867.0 29498.7 29322.4 29146.2 28777.9 28231.6

NIFTY 11624.35 Neutral Neutral 12000 11000 11902.7 11774.8 11688.5 11647.2 11605.9 11519.6 11391.6

ADANIPORTS 421.85 Neutral Neutral 430 400 437.7 430.0 424.8 422.4 419.9 414.7 407.0

ASIANPAINT 1783 Neutral Down 1800 1700 1864.2 1830.8 1808.4 1797.6 1786.9 1764.4 1731.1

AXISBANK 714.85 Short Covering Neutral 740 640 740.3 726.5 717.3 712.8 708.4 699.1 685.4

BAJAJ-AUTO 3126.7 Neutral Neutral 3200 2900 3209.1 3160.2 3127.2 3111.5 3095.7 3062.7 3013.8

BAJAJFINSV 8040.65 Short Built-up Down 8500 8000 8501.1 8335.0 8223.0 8169.4 8115.8 8003.8 7837.7

BAJFINANCE 4050.25 Short Built-up Down 4200 3800 4299.0 4200.2 4133.6 4101.7 4069.8 4003.2 3904.3

BHARTIARTL 373.6 Short Built-up Down 400 380 396.7 388.0 382.0 379.2 376.4 370.4 361.7

BPCL 535.65 Long Built-up Up 550 400 562.0 545.4 534.2 528.9 523.5 512.4 495.8

BRITANNIA 3264.75 Neutral Neutral 3300 3000 3401.6 3331.6 3284.3 3261.8 3239.2 3191.9 3121.9

CIPLA 454.4 Neutral Up 440 430 465.8 457.8 452.5 449.9 447.3 442.0 434.0

COALINDIA 209.45 Neutral Up 210 195 216.6 212.3 209.3 208.0 206.6 203.6 199.3

DRREDDY 2812.6 Short Covering Up 2750 2700 2844.5 2807.4 2782.4 2770.5 2758.5 2733.5 2696.4

EICHERMOT 20059.65 Short Built-up Neutral 20000 19000 21412.6 20804.9 20395.2 20199.2 20003.1 19593.4 18985.8

GAIL 130.05 Neutral Neutral 140 125 134.3 132.2 130.7 130.1 129.4 127.9 125.8

GRASIM 758.55 Neutral Neutral 800 700 788.7 770.8 758.8 753.0 747.3 735.2 717.4

HCLTECH 1066.3 Short Built-up Down 1100 1040 1111.5 1096.4 1086.3 1081.5 1076.6 1066.5 1051.4

HDFC 2120.85 Short Covering Up 2200 2000 2174.3 2140.7 2118.0 2107.2 2096.3 2073.6 2040.0

HDFCBANK 1243.95 Short Covering Up 1300 1200 1279.9 1258.1 1243.4 1236.4 1229.3 1214.6 1192.8

HEROMOTOCO 2677.85 Long Built-up Neutral 2800 2500 2787.3 2726.5 2685.6 2666.0 2646.4 2605.4 2544.7

HINDALCO 186.2 Short Built-up Neutral 200 175 193.7 190.4 188.2 187.1 186.0 183.8 180.5

HINDUNILVR 2124.45 Neutral Up 2100 2000 2177.2 2144.4 2122.3 2111.8 2101.2 2079.1 2046.4

ICICIBANK 451.6 Long Built-up Up 460 400 466.1 455.6 448.6 445.2 441.8 434.8 424.3

INDUSINDBK 1341.3 Neutral Neutral 1400 1150 1431.3 1387.1 1357.3 1343.1 1328.8 1299.0 1254.8

INFRATEL 259.65 Neutral Neutral 280 245 267.6 263.9 261.4 260.2 258.9 256.4 252.7

INFY 638.05 Short Built-up Down 800 600 760.0 729.5 708.9 699.0 689.1 668.5 638.0

IOC 147.1 Long Built-up Neutral 150 140 152.3 149.5 147.5 146.6 145.7 143.8 140.9

ITC 249.75 Neutral Neutral 270 250 256.4 252.5 249.8 248.6 247.3 244.6 240.7

JSWSTEEL 220.15 Short Built-up Down 225 220 231.5 226.8 223.6 222.1 220.5 217.3 212.6

KOTAKBANK 1634.7 Neutral Up 1700 1600 1681.9 1653.6 1634.5 1625.3 1616.2 1597.1 1568.7

LT 1448.6 Neutral Neutral 1500 1400 1506.5 1478.4 1459.5 1450.5 1441.4 1422.5 1394.4

M&M 597.75 Long Built-up Neutral 600 550 623.7 610.1 600.9 596.5 592.1 582.9 569.3

MARUTI 7282.75 Neutral Neutral 7000 7000 7636.4 7464.4 7348.5 7293.1 7237.6 7121.7 6949.7

NESTLEIND 15058.05 Long Built-up Up 14700 14000 15431.7 15196.0 15037.1 14961.1 14885.1 14726.2 14490.5

NTPC 121.35 Neutral Neutral 120 120 124.4 122.8 121.7 121.2 120.7 119.6 118.0

ONGC 144.8 Long Built-up Neutral 140 135 150.7 147.5 145.3 144.2 143.1 140.9 137.7

POWERGRID 205.75 Long Built-up Up 200 195 210.3 207.4 205.5 204.6 203.6 201.7 198.8

RELIANCE 1419.45 Neutral Neutral 1500 1200 1464.0 1441.3 1426.1 1418.8 1411.4 1396.2 1373.5

SBIN 271 Neutral Neutral 300 250 284.9 277.6 272.7 270.3 267.9 263.0 255.7

SUNPHARMA 406.75 Neutral Up 420 400 416.2 410.5 406.7 404.9 403.1 399.3 393.6

TATAMOTORS 132.05 Long Unwinding Down 140 120 145.4 140.0 136.4 134.7 132.9 129.3 123.9

TATASTEEL 355.35 Long Unwinding Neutral 400 300 375.0 366.2 360.2 357.3 354.5 348.5 339.6

TCS 2056.25 Neutral Neutral 2100 1980 2107.6 2082.4 2065.4 2057.3 2049.1 2032.1 2006.9

TECHM 720.5 Short Built-up Down 740 700 747.7 738.2 731.8 728.8 725.7 719.3 709.8

TITAN 1333.6 Neutral Up 1400 1100 1369.7 1344.0 1326.6 1318.4 1310.1 1292.7 1267.0

ULTRACEMCO 4268.2 Long Unwinding Neutral 4500 4000 4477.8 4380.7 4315.2 4283.9 4252.5 4187.1 4089.9

UPL 598.9 Short Built-up Neutral 600 580 617.6 608.7 602.8 599.9 597.0 591.1 582.2

VEDL 149.45 Long Unwinding Neutral 160 150 158.3 154.1 151.4 150.0 148.7 145.9 141.8

WIPRO 253.7 Short Covering Up 260 240 257.6 254.6 252.6 251.7 250.7 248.7 245.7

YESBANK 51.85 Short Covering Neutral 60 40 60.6 56.2 53.1 51.7 50.3 47.2 42.8

ZEEL 249.7 Short Built-up Neutral 300 200 270.7 260.5 253.6 250.4 247.1 240.2 230.0

Nifty 50 Daily Volatility Levels

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Mr. Virat Jagad Technical Analyst virat.jagad@inventuregrowth.com

Ms. Jeni Rita Fundamental Analyst Jeni.rita@inventuregrowth.com

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