Technical & Derivatives Report
April 04, 2016
Sensex (25270) / Nifty (7713)
Exhibit 1: Nifty Daily Chart
First trading day of the April series as well as calendar month
started with a small downside gap. After a volatile movement
within a narrow range, the Nifty managed to defend the 7700
mark on a closing basis.
Albeit, the Nifty managed to conclude on a favorable note after
the sluggishness it suffered in the initial part of the week, but we
still would like to adopt a slightly cautious approach. The
important reason behind this is not only the 900 points vertical
rally which could now lead the Nifty to take a breather, but also
the convergence of key technical evidences around 7750 - 7800.
On the weekly chart, we can observe a ‘Hanging Man’ pattern at
the strong resistance of ‘89 EMA’ placed at 7750. At 7800, we
see a hurdle in the form of the 127% retracement level of the last
down move from 7600.45 to 6825.80. However, having said
that, we do not expect a sharp correction as such but the
possibility of some decent profit booking cannot be ruled out.
Key Levels
Support 1 - 7666
Resistance 1 - 7750
Support 2 - 7580
Resistance 2 - 7800
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (16175)
The Nifty Bank index opened with marginal losses on Friday and
moved lower in first half of the session. However, we witnessed a
sharp recovery in the latter half to end the session with gains of
0.21 percent over its previous close.
Currently, the index is currently trading around its multiple
resistance zone. On the weekly chart, we are observing a strong
resistance of the ‘89 EMA’, which is placed at 16302. This zone
coincides with the 61.8% retracement of the corrective move from
18029 to 13407. Also, during the January month, the index
breached its support level with a gap down opening, which is also
a part of the above mentioned resistance zone. Although, there is
no clear sign of reversal on charts; considering above technical
evidences, a small profit booking from current levels cannot be
ruled out. Due to RBI monetary policy slated on Tuesday, we may
see some volatility in banking stocks one day ahead of the event.
Intraday supports for the index are placed around 15965 and
15760; whereas, resistances can be seen around 16302 -
16400.
Key Levels
Support 1 - 15965
Resistance 1 - 16302
Support 2 - 15760
Resistance 2 - 16400
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Technical & Derivatives Report
April 04, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.37%
BankNifty futures open interest has increased by 4.42%
as market closed at 7713.05 levels.
The Nifty April future closed at a premium of 35.70
points against a premium of 46.00 points. The May
series closed at a premium of 63.15 points.
The Implied Volatility of at the money options has
decreased from 16.02% to 15.62%.
The total OI of the market is Rs. 1,69,761/- cr. and the
stock futures OI is Rs. 52,726 /- cr.
Few of the liquid counters where we have seen high cost
of carry are UNITECH, JPASSOCIAT, BHEL, TV18BRDCST
and ADANIPOWER.
Views
FIIs continued to buy in cash market segment; they
OI Gainers
bought equities to the tune of Rs. 214 crores. While in
OI
PRICE
Index Futures, they sold of Rs. 387 crores with marginal
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
change in OI, suggesting blend of both long unwinding
CUMMINSIND
255600
29.88
867.95
2.73
and fresh short formation in last trading session.
HAVELLS
2538000
19.27
314.90
-1.30
In Index Options front, FIIs were net buyers of Rs. 895
HINDZINC
4723200
19.13
184.20
0.99
crores with significant rise in OI. In call options, 7900
JSWENERGY
5724000
19.10
68.45
-2.28
and 8000 strikes added good amount of build-up. Weng.com
TVSMOTOR
3848000
17.82
326.40
0.51
believe it’s more of writing which took place in these call
options. Whereas, in put options, 7200 and 7400-7600
OI Losers
strikes added good amount of fresh build-up with fall in
OI
PRICE
IV’s. Seeing FIIs Index Options data, it seems they have
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
bought these put options. Maximum OI in current series
INFRATEL
3948100
-4.71
386.35
0.86
is visible in
8000 call and
7500 put options. We
TCS
3859600
-2.44
2467.30
-2.33
witnessed some profit booking by FIIs along with decent
OIL
1124400
-2.40
317.95
1.21
longs in put option, which is a negative signals. We
BAJAJ-AUTO
1467600
-2.20
2432.70
0.47
would suggest avoiding aggressive longs and to stay
M&M
3950400
-2.07
1200.85
-1.36
light in this market.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
JPASSOCIAT
77.80
NIFTY
0.84
1.06
BHARTIARTL
35.14
BANKNIFTY
0.83
0.95
ANDHRABANK
52.01
SBIN
0.41
0.37
SOUTHBANK
32.88
LUPIN
0.49
0.51
MCLEODRUSS
44.35
TATASTEEL
0.83
0.94
Strategy Date
Symbol
Strategy
Status
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Technical & Derivatives Report
April 04, 2016
FII Statistics for 01-April 2016
Turnover on 01-April 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
1444.80
1831.64
(386.84)
237757
13527.58
(0.41)
296667
16251.36
-51.85
FUTURES
FUTURES
INDEX
INDEX
25574.18
24678.93
895.25
823187
47431.51
12.27
2162027
124127.96
-76.30
OPTIONS
OPTIONS
STOCK
3848.08
4289.71
(441.63)
960107
44912.09
1.52
STOCK
FUTURES
511570
24598.89
-64.39
FUTURES
STOCK
STOCK
1573.27
1517.63
55.63
17232
811.39
2559.26
OPTIONS
197122
9721.14
-55.75
OPTIONS
TOTAL
32440.32
32317.91
122.42
2038283
106682.57
6.25
TOTAL
3167386
174699.35
-73.06
Nifty Spot = 7713.05
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7800
105.25
Buy
7700
112.35
40.25
59.75
7840.25
33.10
66.90
7666.90
Sell
7900
65.00
Sell
7600
79.25
Buy
7800
105.25
Buy
7700
112.35
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68.05
131.95
7868.05
56.65
143.35
7643.35
Sell
8000
37.20
Sell
7500
55.70
Buy
7900
65.00
Buy
7600
79.25
27.80
72.20
7927.80
23.55
76.45
7576.45
Sell
8000
37.20
Sell
7500
55.70
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 04, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,355
1,384
1,401
1,430
1,446
ADANIPORTS
235
239
243
247
252
AMBUJACEM
226
231
234
238
241
ASIANPAINT
854
862
873
881
892
AUROPHARMA
705
717
733
745
760
AXISBANK
435
443
447
455
459
BAJAJ-AUTO
2,359
2,389
2,408
2,439
2,458
BANKBARODA
142
148
151
156
159
BHEL
109
113
117
120
124
BPCL
876
882
891
896
906
BHARTIARTL
321
328
339
346
357
INFRATEL
369
377
385
393
401
BOSCH
19,045
19,467
20,146
20,568
21,247
CIPLA
507
511
514
518
521
COALINDIA
281
284
289
292
297
DRREDDY
2,929
2,955
2,990
3,016
3,051
EICHERMOT
18,666
18,960
19,205
19,499
19,744
GAIL
341
344
350
354
359
GRASIM
3,774
3,814
3,850
3,890
3,926
HCLTECH
800
810
817
827
834
HDFCBANK
1,046
1,055
1,066
1,075
1,085
HDFC
1,082
1,098
1,108
1,123
1,133
HEROMOTOCO
2,901
2,926
2,948
2,973
2,994
HINDALCO
85
86
87
88
88
HINDUNILVR
847
858
866
876
885
ICICIBANK
230
234
237
241
244
IDEA
104
105
108
110
113
INDUSINDBK
942
952
960
970
979
INFY
1,180
1,193
1,208
1,220
1,235
ITC
321
329
333
340
344
KOTAKBANK
672
676
681
685
691
LT
1,196
1,217
1,233
1,253
1,269
LUPIN
1,434
1,449
1,467
1,482
1,499
M&M
1,177
1,186
1,197
1,206
1,216
MARUTI
3,640
3,682
3,723
3,765
3,806
NTPC
127
129
130
131
132
ONGC
204
206
211
213
217
POWERGRID
137
138
139
140
141
RELIANCE
1,014
1,024
1,035
1,046
1,057
SBIN
190
193
195
198
200
SUNPHARMA
802
808
816
823
831
TCS
2,383
2,418
2,470
2,505
2,556
TATAMTRDVR
277
282
286
290
294
TATAMOTORS
373
376
381
385
390
TATAPOWER
63
64
65
66
67
TATASTEEL
310
314
317
321
323
TECHM
450
457
466
473
482
ULTRACEMCO
3,148
3,176
3,218
3,246
3,288
WIPRO
549
555
564
571
579
YESBANK
845
850
858
863
871
ZEEL
380
383
387
390
393
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Technical & Derivatives Report
April 04, 2016
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
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