Weekly Derivatives Report :01 October 2018

1. Technical View (Equity) Weekly call Index CMP % up/dn S2 S1 P R1 R2 10,930.45 -0.43% 10755 10840 10940 11025 11120 Nifty 36227.14 -0.27% Sensex 35690 35960 36255 36525 36820 Nifty Weekly Chart Comments: Nifty started the week on a flat note but continued its previous week's negative momentum to end the week on a weak note. Nifty closed at 10930 with a loss of 213 points on a weekly basis. On the weekly chart the index has formed a long bearish candle forming lower High-Low compare to previous week however it has closed above its low indicating mix bias at current levels. The index is moving in a Lower Top and Lower Bottom formation on the daily chart indicating negative bias. The chart pattern suggests that if Nifty crosses and sustains above 10980 level it would witness buying which would lead the index towards 11080-11180 levels. However if index breaks below 10860 level it would witness selling which would take the index towards 10800-10700. Nifty is now well placed above its 20, 50 and 100 SMA indicating positive bias in the short term. Nifty continues to remain in an uptrend in the medium term, so buying on dips continues to be our preferred strategy. For the week, we expect Nifty to trade in the range of 10700-11200 with a mixed bias. The weekly strength indicator RSI and momentum oscillator Stochastic have both turned negative and are below their respective reference lines indicating negative bias. The trend deciding level for the day is 10940. If NIFTY trades above this level then we may witness a further rally up to 11025-11120-11210 levels. However, if NIFTY trades below 10940 levels then we may see some profit booking initiating in the market, which may correct up to 10840-10755-10660 levels Stocks to focus for intraday Long Coromadel, HDFCBANK, Infy Bataindia, Cyient, CERA, Stocks to focus for intraday Short PVR, Centurytext, Havells, MGL Granules, Radico, Ajantpharma,