Technical & Derivatives Report
June 06, 2016
Sensex (26843) / Nifty (8221)
Exhibit 1: Nifty Daily Chart
The Nifty index consolidated in a narrow range for a major part
of the week, but was able to cross the 8200 mark on a weekly
closing basis.
A muted price action throughout the concluded week should
ideally be interpreted as a ‘breather’ or a ‘pause’ after such a
remarkable rally in the previous week. During the week, we
witnessed a series of ‘Small Body’ candles on the daily chart. The
development of such candles, particularly after a strong rally, is
often an indication of market exhaustion or of a possibility of
profit booking on the anvil. But we would still advice on not
exiting longs and suggest against the creation of short positions in
the current market scenario. Technically speaking, we expect this
momentum to continue as long as the Nifty manages to sustain
itself above the ‘5 Days EMA’ on a closing basis. Going forward,
8175 - 8134 levels would now be seen as important support
levels. On the upside, we may see the index gradually move
towards the next swing high of 8336.
Key Levels
Support 1 - 8175
Resistance 1 - 8280
Support 2 - 8134
Resistance 2 - 8336
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (17681)
On Friday, the Nifty Bank index opened gap up and rallied
higher led by heavyweights within the sector. However, a minor
profit booking during last hour of the session erased some of the
gains and ended the day with gains of 0.64% over its previous
day's close.
On Friday the Nifty Bank index almost tested the resistance level
around 17780 which we have been mentioning as the probable
target zone since last few days. Although the index has reached
the mentioned target zone, the individual heavyweights continues
to show strength and hence the positive momentum could get
continued. For near term, lower end of Friday's gap at 17596 is
the support, which if breached could lead to minor profit booking.
However, any minor profit booking should not be a concern as
the broader trend is positive and hence, dips are likely to attract
demand at lower levels. The intraday support for the index is
placed around 17596 and 17350 whereas resistances are seen
around 17780 and 18030.
Key Levels
Support 1 - 17596
Resistance 1 - 17780
Support 2 - 17350
Resistance 2 - 18030
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Technical & Derivatives Report
June 06, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.75%
BankNifty futures open interest has increased by 2.06%
as market closed at 8220.80 levels.
The Nifty June future closed with a premium of 18.10
points against a premium of 24.30 points in previous
session. The July series closed at a premium of 39.85
points.
The Implied Volatility of at the money options has
decreased from 13.85% to 13.10%.
The total OI of the market is Rs. 2,18,307/- cr. and the
stock futures OI is Rs. 64,537/- cr.
Few of the liquid counters where we have seen high cost
of carry are CESC, GMRINFRA, JPASSOCIAT,
TATAGLOBAL and ICIL.
Views
OI Gainers
OI
PRICE
On Friday, FIIs bought significantly in cash market
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
segment; they bought to the tune of Rs. 1585 crores. In
IDEA
65004000
46.48
105.45
-9.04
Index Futures, they bought of Rs.
319 crores with
CANBK
15700000
33.37
192.25
-5.83
marginal change in OI, indicating blend of long
BANKINDIA
20904000
17.52
84.10
-4.43
formation and short covering in last trading session.
In Index Options front, FIIs bought marginally with
GODREJIND
1275000
11.37
356.10
2.57
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decent rise in open interest. Overall activity in call
IDBI
36912000
10.99
64.15
-4.74
options remained subdued. While in put options, 8100
strike remained active and it also added decent build-up.
OI Losers
Maximum build-up in June series is visible in 8400 call
OI
PRICE
SCRIP
OI
PRICE
and 8000 put options. We believe 8000-8050 levels
CHG. (%)
CHG. (%)
may now act as a very strong support for market. FII
TORNTPHARM
170000
-9.96
1381.80
2.83
have been continuously forming longs in Index Futures
TATASTEEL
24420000
-9.17
338.55
-0.72
and they also buying equities and the quantum is also
COALINDIA
18230000
-8.06
308.95
0.53
considerable. One should avoid forming any shorts at
AJANTPHARM
264400
-7.29
1549.40
-0.93
current junction; it’s a buy on dip market for us.
HINDALCO
37020000
-6.65
105.55
-0.56
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
IDEA
67.87
NIFTY
1.05
1.02
IDBI
45.05
BANKNIFTY
1.01
0.97
KOTAKBANK
27.37
SBIN
0.74
0.50
GLENMARK
29.11
ICICIBANK
0.44
0.34
TORNTPHARM
33.43
RELIANCE
0.77
0.39
Strategy Date
Symbol
Strategy
Status
May 30, 2016
TCS
Ratio Bull Call Spread
Active
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Technical & Derivatives Report
June 06, 2016
FII Statistics for 03-June 2016
Turnover on 03-June 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
1363.96
1044.64
319.32
291433
17656.12
(0.38)
195725
11433.93
-18.32
FUTURES
FUTURES
INDEX
INDEX
10918.37
11027.19
(108.82)
941344
57520.46
2.22
1610918
96741.82
-45.02
OPTIONS
OPTIONS
STOCK
4915.77
4669.32
246.44
1065688
52559.57
0.19
STOCK
FUTURES
553712
28266.64
7.19
FUTURES
STOCK
STOCK
2576.13
2596.05
(19.92)
77847
3982.30
13.25
OPTIONS
286513
14961.65
9.07
OPTIONS
TOTAL
19774.22
19337.20
437.02
2376312
131718.45
1.30
TOTAL
2646868
151404.05
-34.19
Nifty Spot = 8220.80
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8200
140.75
Buy
8200
103.80
51.75
48.25
8251.75
33.40
66.60
8166.60
Sell
8300
89.00
Sell
8100
70.40
Buy
8200
140.75
Buy
8200
103.80
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90.10
109.90
8290.10
56.75
143.25
8143.25
Sell
8400
50.65
Sell
8000
47.05
Buy
8300
89.00
Buy
8100
70.40
38.35
61.65
8338.35
23.35
76.65
8076.65
Sell
8400
50.65
Sell
8000
47.05
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
June 06, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,515
1,528
1,546
1,558
1,576
ADANIPORTS
200
202
204
207
208
AMBUJACEM
225
227
230
232
236
ASIANPAINT
1,005
1,015
1,024
1,034
1,042
AUROPHARMA
769
779
789
799
809
AXISBANK
520
531
538
549
556
BAJAJ-AUTO
2,567
2,603
2,631
2,667
2,695
BANKBARODA
136
138
141
143
146
BHEL
116
117
119
120
122
BPCL
987
1,000
1,017
1,030
1,047
BHARTIARTL
349
354
360
364
370
INFRATEL
375
380
383
388
390
BOSCH
21,890
22,080
22,265
22,454
22,639
CIPLA
456
460
467
472
479
COALINDIA
306
307
310
311
313
DRREDDY
3,112
3,136
3,166
3,191
3,221
EICHERMOT
18,499
18,643
18,770
18,915
19,042
GAIL
363
367
372
376
381
GRASIM
4,273
4,296
4,333
4,356
4,392
HCLTECH
717
720
723
725
729
HDFCBANK
1,159
1,166
1,175
1,181
1,191
HDFC
1,234
1,244
1,257
1,267
1,279
HEROMOTOCO
3,042
3,094
3,153
3,205
3,263
HINDALCO
103
104
106
107
108
HINDUNILVR
862
874
881
892
899
ICICIBANK
240
242
244
246
248
IDEA
98
102
108
112
118
INDUSINDBK
1,112
1,118
1,125
1,131
1,139
INFY
1,250
1,258
1,269
1,277
1,288
ITC
348
351
355
358
363
KOTAKBANK
732
751
762
780
791
LT
1,438
1,449
1,468
1,479
1,497
LUPIN
1,423
1,436
1,460
1,473
1,497
M&M
1,336
1,345
1,352
1,361
1,368
MARUTI
4,156
4,187
4,211
4,242
4,266
NTPC
143
145
147
150
152
ONGC
209
210
212
214
216
POWERGRID
149
149
150
151
152
RELIANCE
952
956
959
963
967
SBIN
191
194
198
201
205
SUNPHARMA
725
731
741
748
758
TCS
2,599
2,614
2,636
2,652
2,674
TATAMTRDVR
307
312
318
323
329
TATAMOTORS
447
450
456
460
465
TATAPOWER
71
73
74
75
76
TATASTEEL
329
334
341
346
353
TECHM
540
546
552
557
563
ULTRACEMCO
3,138
3,163
3,209
3,235
3,280
WIPRO
537
539
541
543
546
YESBANK
1,033
1,041
1,050
1,059
1,068
ZEEL
449
453
457
461
465
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Technical & Derivatives Report
June 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]
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