Technical & Derivatives Report
May 06, 2016
Sensex (25262) / Nifty (7736)
Exhibit 1: Nifty Daily Chart
Our markets opened with a marginal upside gap and then traded
with a mildly positive bias throughout the session. Eventually, the
Nifty ended the range bound session with 0.38 percent gains over
the previous close.
Yesterday, we saw Nifty respecting the 7700 mark and then went
on to form a ‘Doji’ candle on the daily chart. This indicates
uncertainty among market participants after reaching the
important zone of the ‘Trend Line’ support at 7700 (as shown in
the exhibit) as well as the ’89 EMA’ placed at 7655. We reiterate
that traders holding short positions should keep booking profits
and refrain from creating fresh (short) positions at current level. It
would be a prudent strategy to wait for an appropriate signal to
form a directional view on the index. On the upside, 7780 would
now be seen as important level on the upside. A move beyond
this level may extend the bounce towards the 7890 mark.
Key Levels
Support 1 - 7700
Resistance 1 - 7780
Support 2 - 7655
Resistance 2 - 7890
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (16281)
Yesterday, the Nifty Bank index traded in a narrow range
throughout the session and eventually ended the session with
negligible gains of 0.04 percent over its previous day's close.
Yesterday's trading action does not indicate any change in trend
and hence we continue to advise traders not to create fresh short
positions in the index at current levels. The immediate support for
the index is placed around 16050 (61.8% retracement of the
previous upmove) and 15932 (89EMA on daily charts). From the
mentioned range, the index could show a pullback move and
hence traders could look to buy in the index in this range. The
immediate resistance for the index is seen around 16465 and
16530.
Key Levels
Support 1 - 16050
Resistance 1 - 16465
Support 2 - 15932
Resistance 2 - 16530
www.angelbroking.com
1
Technical & Derivatives Report
May 06, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 4.48%
BankNifty futures open interest has decreased by 4.34%
as market closed at 7735.50 levels.
The Nifty May future closed at a premium of 37.60
points against a premium of 26.20 points. The June
series closed at a premium of 51.40 points.
The Implied Volatility of at the money options has
decreased from 16.13% to 15.75%.
The total OI of the market is Rs. 2,02,234/- cr. and the
stock futures OI is Rs. 58,134/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, GMRINFRA, PFC, HDFCBANK
and ZEEL.
Views
FIIs continued to sell in both equity market and index
OI Gainers
future segment. They sold equities worth Rs. 389 crores.
OI
PRICE
While in Index Futures, they were net sellers to the tune of
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Rs. 993 crores with significant fall in OI, indicating long
CASTROLIND
2773100
35.25
414.40
6.27
unwinding in last trading session.
HEXAWARE
4948000
17.75
225.80
-0.64
In Index Options front, FIIs bought worth Rs. 1006 crores
CUMMINSIND
338400
17.26
850.10
-0.51
with decent rise in OI. In call options, 7900 strike was
SIEMENS
1206400
16.27
1181.95
3.47
quite active and added some fresh positions. While in putng.com
SRF
546000
12.62
1392.00
3.60
options, the overall activity remained subdued. Maximum
OI in call options has shifted from 8000 to 8100 strike;
OI Losers
whereas in put options, it remained intact at 7700 strike.
OI
PRICE
FIIs are continuously unwinding long positions in index
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
future segment; but, fresh shorting has not been seen
INDUSINDBK
4912800
-5.37
1042.40
-0.21
from last few trading sessions. Since, the Nifty is trading
TATAMOTORS
24498000
-4.46
391.60
2.30
near around its crucial support of 7650 - 7700 zone,
COALINDIA
20506800
-3.42
282.60
0.71
shorting at current levels won’t be a prudent strategy.
Thus, we advise traders to remain light in this market till
WIPRO
8263000
-3.41
545.85
0.67
we see any meaningful fresh positions in either direction.
TVSMOTOR
5786000
-3.31
295.10
1.92
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CASTROLIND
37.97
NIFTY
0.82
0.78
SIEMENS
32.25
BANKNIFTY
0.79
0.72
MCDOWELL-N
43.01
ICICIBANK
0.37
0.36
HDFC
32.37
RELIANCE
0.41
0.33
AJANTPHARM
34.67
SBIN
0.54
0.42
Strategy Date
Symbol
Strategy
Status
02-05-2016
NIFTY
Long Strangle
Active
www.angelbroking.com
2
Technical & Derivatives Report
May 06, 2016
FII Statistics for 05-May 2016
Turnover on 05-May 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
1358.17
2351.27
(993.10)
241092
13721.38
(6.27)
298327
16413.90
9.69
FUTURES
FUTURES
INDEX
INDEX
22015.29
21009.22
1006.07
977192
56238.97
7.42
2387977
138497.49
1.28
OPTIONS
OPTIONS
STOCK
4588.12
4485.86
102.26
982725
46598.60
0.95
STOCK
FUTURES
556639
27572.03
2.47
FUTURES
STOCK
STOCK
2323.89
2346.83
(22.94)
52765
2562.91
9.54
OPTIONS
293131
14924.20
1.23
OPTIONS
TOTAL
30285.47
30193.18
92.29
2253774
119121.87
2.98
TOTAL
3536074
197407.61
2.09
Nifty Spot = 7735.50
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7800
100.90
Buy
7700
87.10
40.85
59.15
7840.85
29.85
70.15
7670.15
Sell
7900
60.05
Sell
7600
57.25
Buy
7800
100.90
Buy
7700
87.10
www.angelbroking.com
67.65
132.35
7867.65
49.85
150.15
7650.15
Sell
8000
33.25
Sell
7500
37.25
Buy
7900
60.05
Buy
7600
57.25
26.80
73.20
7926.80
20.00
80.00
7580.00
Sell
8000
33.25
Sell
7500
37.25
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
3
Technical & Derivatives Report
May 06, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,365
1,380
1,394
1,409
1,422
ADANIPORTS
188
193
202
207
216
AMBUJACEM
211
213
215
218
220
ASIANPAINT
855
861
868
874
881
AUROPHARMA
791
798
809
816
827
AXISBANK
453
457
462
466
471
BAJAJ-AUTO
2,421
2,437
2,463
2,479
2,505
BANKBARODA
145
147
149
151
153
BHEL
118
120
122
124
126
BPCL
918
928
940
950
962
BHARTIARTL
343
349
357
363
372
INFRATEL
362
366
371
374
379
BOSCH
18,765
18,930
19,202
19,367
19,639
CIPLA
529
536
540
546
550
COALINDIA
279
280
282
283
285
DRREDDY
2,890
2,910
2,931
2,951
2,972
EICHERMOT
18,848
19,268
19,634
20,053
20,419
GAIL
359
363
366
370
373
GRASIM
4,057
4,086
4,125
4,154
4,193
HCLTECH
718
726
733
740
747
HDFCBANK
1,118
1,125
1,130
1,137
1,142
HDFC
1,117
1,140
1,158
1,181
1,199
HEROMOTOCO
2,833
2,863
2,907
2,937
2,980
HINDALCO
87
89
91
93
95
HINDUNILVR
838
844
853
859
868
ICICIBANK
210
212
216
218
222
IDEA
106
110
115
119
125
INDUSINDBK
1,018
1,028
1,036
1,046
1,054
INFY
1,173
1,183
1,191
1,201
1,209
ITC
308
313
317
321
325
KOTAKBANK
698
704
709
715
721
LT
1,229
1,251
1,267
1,290
1,305
LUPIN
1,574
1,589
1,601
1,616
1,628
M&M
1,295
1,308
1,319
1,332
1,344
MARUTI
3,782
3,809
3,830
3,857
3,878
NTPC
138
139
140
141
142
ONGC
208
209
211
213
215
POWERGRID
141
142
143
144
145
RELIANCE
964
970
977
982
989
SBIN
176
178
181
183
185
SUNPHARMA
793
802
815
823
836
TCS
2,448
2,459
2,475
2,486
2,501
TATAMTRDVR
276
280
283
287
290
TATAMOTORS
377
384
390
397
403
TATAPOWER
69
70
70
71
72
TATASTEEL
320
326
330
336
341
TECHM
458
469
475
486
492
ULTRACEMCO
3,051
3,085
3,142
3,176
3,234
WIPRO
534
538
542
547
550
YESBANK
889
901
917
928
945
ZEEL
392
396
401
405
409
www.angelbroking.com
4
Technical & Derivatives Report
May 06, 2016
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and MCX Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a
registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number
INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing
/dealing in securities Market. Angel or its associates including its relatives/analyst do not hold any financial interest/beneficial
ownership of more than 1% in the company covered by Analyst. Angel or its associates/analyst has not received any compensation /
managed or co-managed public offering of securities of the company covered by Analyst during the past twelve months. Angel/analyst
has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market making activity
of the company covered by Analyst.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important ‘Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
www.angelbroking.com
5