*Pre-Market Derivatives and Technical Set-up*
● Nifty index opened negative and made a new life time high of 13777 zones but it failed to hold immediate support of 13600 and nosedived sharply to 13131 zones. It negated the formation of higher high - higher lows on weekly scale and broken a rising support trend line on daily scale which doesn’t bode well for the bulls after the strong movement of last many weeks. Mechanical indicators are turning negative from their overbought territory so one need to stay light till index doesn’t get stability
● Now till it doesn’t surpass above 13450-13500 zone, profit booking declines could be seen towards 13131 and 13000 zones
● India VIX spiked sharply by 24.54% from 18.62 to 23.19. Spike in volatility from lower levels and a cross above 23 zones indicates short term pressure could be seen on market till it doesn’t cool down below 19 zones
● On option front, Max Put OI is at 13000 then 13200 strike while Max Call OI is at 14000 then 13000 strike. Marginal Call writing is seen at 13800 then 13700 strike while Put unwinding is seen at immediate strike price. Option data suggests wider trading range in between 13000 to 13750 zones
● Bank Nifty opened negative and witnessed sustain selling pressure throughout the day. It corrected by around 1400 points from intraday high of 30700 and closed the session with the loss of around 1250 points. It formed a Bearish Belt Hold candle on daily scale and negated higher high - higher lows on weekly scale
● Now till it remains below 30000-30200 zones, weakness could persist towards next support at 29000-28800 zones
● We witnessed weakness in most of the stocks mainly in RBL Bank, BHEL, PVR, Indigo, Federal Bank, Tatamotors, Can Bank, Gail, Indusind Bank, BPCL, Escorts, Srtransfin, HPCL, M&MFin, Ambujacem, Concor, Ramco Cement and ITC
*Technical & Derivatives Research, Motilal Oswal*
ADR/GDR, Pledge, Bulk Deal, Insider
ADR/GDR
· HDFC Bank down 3%, Wipro down 3%, Vedanta down 7%, ICICI Bank down 3%, SBI down 5%, Reliance Industries down 4%, Tata Motor down 8%, Infosys down 2%, M&M down 6%, L&T down 5%, Tata Steel down 8%, Dr Reddy down 3%, Axis Bank down 6%
Pledge Share Details
· Chambal Fertilisers - Promoter Zuari Global revoked pledge of 17 lakh shares between December 17-18.
· LG Balakrishnan: Promoter V Rajvirdhan revoked pledge of 26.03 lakh shares on December 18.
· The Ramco Cements: Promoter Saradha Deepa created a pledge of 2.48 lakh shares on December 16.
· Adani Enterprises - Promoters Gautam Adani and Rajesh Adani revoked pledge of 38.32 lakh shares on December 18.
· Adani Ports: Promoters Gautam Adani and Rajesh Adani revoked pledge 1.27 crore shares on December 18.
· Adani Transmission: Promoters Gautam Adani and Rajesh Adani revoked pledge of 84.97 crore shares on December 18.
· Adani Green Energy: Promoters Gautam Adani and Rajesh Adani revoked pledge of 48 lakh shares on Dec 18
· Jindal Steel : Promoters Danta Enterprises and Glebe Trading revoked pledge of 12.12 lakh shares between December 15-16
Bulk Deals
· Birlasoft: ICICI Prudential Mutual Fund bought 20 lakh shares (0.72%) at Rs 205.15 per share. Aditya Birla Sun Life Mutual Fund bought 20 lakh shares (0.72%) at Rs 205.15 per share. Invesco Mutual Fund bought 20 lakh shares (0.72%) at Rs 205.15 per share. Acacia II Partners L.P. sold 67.11 lakh shares (2.42%) at Rs 205.15 per share.
· Majesco: Edelweiss Retail Finance bought 2.04 lakh shares (0.68%) at Rs 974 per share.
· Max Financial Services: Avendus Absolute Return Fund bought 16.73 lakh shares (0.62%) at Rs 653 per share. Moneyline Portfolio Investments sold 37.40 lakh shares (1.39%) at Rs 654.55 per share.
Insider Trades
· Filatex India: Promoters acquired 6.05 lakh shares on December 17.
· Great Eastern Shipping: Promoter Gopal Mulji sold 10,000 shares on December 18.
· Godrej Agrovet: Promoter Godrej Industries acquired 19,040 shares on December 16.
· Who’s Meeting Whom Puravankara:
To meet Spark Capital Advisors (India) on December 22.
· Indian Energy Exchange: To meet White Oak on December 22.
· Balaji Amines: To meet BOB Capital Markets on December 22.
· Sudarshan Chemical Industries: To meet Franklin Templeton on December 22 and Enam AMC and Dolat Capital on December 23. #NIFTY50#NIFTYIT #NIFTYBANK #NIFTYFMCG