Technical & Derivatives Report
December 07, 2016
Sensex (26393) / Nifty (8143)
Exhibit 1: Nifty Daily Chart
Yesterday, we saw our markets opening with a marginal upside
gap citing to positive cues from Asian peers. Subsequently, the
index (Nifty) consolidated in a narrow range with a positive bias
for the major part of the session. However, skeptical traders chose
to take some money off the table one day ahead of the RBI
Monetary policy and as a result, we witnessed a gradual decline
towards the fag end to conclude the session on a flat note.
Yesterday’s price action was quite evident ahead of the event.
Since, there is no major change in the chart structure, the view
remains the same as we had mentioned in the previous article.
Technically speaking, the ‘RSI-Smoothened’ on daily chart has
managed to maintain its position above the 30 mark, indicating
strength. In addition, price-wise, Monday’s low can still be seen
as a probable ‘Higher Low’. Going ahead, we continue to expect
the bounce back rally to extend towards 8320 - 8380 levels. With
an intraday perspective,
8179
-
8251 would be seen as
immediate hurdles; whereas on the other hand, yesterday’s low of
8130 - 8056.85 would act as a strong support zone for the Nifty.
Key Levels
Support 1 - 8130
Resistance 1 - 8179
Support 2 - 8056
Resistance 2 - 8251
Nifty Bank Outlook - (18421)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index traded in a narrow range yesterday and
ended the session almost near its previous day's closing.
Yesterday's rangebound move seemed due to the uncertainty over
the outcome of the fifth bi-monthly monetary policy statement for
2016-17; which is scheduled to be announced today. On account
of this event, there could be higher volatility in the Nifty Bank
index and the components of the index. However, on the basis of
technical structure, we continue with our view on limited downside
in the index from current levels. The near term support for the
Nifty Bank index is placed around 18143, which was the low
registered during the gap down opening on 9th November.
Breach of the mentioned support could lead to the correction
extending upto 17800, the 200 SMA on daily chart. However,
citing the correction to be the last leg of the ongoing corrective
move, we continue to be optimistic on the market and thus,
advise traders to avoid creating short positions. The intraday
support for the index are placed around 18284 and 18143
whereas resistances are seen around 18547 and 18713.
Key Levels
Support 1 - 18284
Resistance 1 - 18547
Support 2 - 18143
Resistance 2 - 18713
www.angelbroking.com
1
Technical & Derivatives Report
December 07, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.06%
BankNifty futures open interest has decreased by 0.21%
as market closed at 8143.15 levels.
The Nifty December future closed with a premium of
25.90 against the premium of 22.10 points in last
trading session. The January series closed at a premium
of 59.10 points.
The Implied Volatility of at the money options has
decreased from 15.71% to 14.93%. At the same time,
the PCR-OI of Nifty has remained unchanged at 1.03
levels.
The total OI of the market is Rs. 2,36,701/- cr. and the
stock futures OI is Rs. 67,252/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, TORNTPOWER, NHPC, IFCI and
JPASSOCIAT.
Views
OI Gainers
After long time, FIIs were net buyer in cash market
OI
PRICE
SCRIP
OI
PRICE
segment. However the quantum wasn’t significant, they
CHG. (%)
CHG. (%)
bought equities worth Rs. 162 crores. While, in index
CROMPGREAV
14208000
25.03
66.20
-2.92
futures, they were net buyers of Rs. 216 crores with
PNB
43862000
12.27
134.05
-1.14
marginal rise in open interest, indicating blend of long
TORNTPOWER
2439000
9.72
181.50
4.30
www.angelbroking.com
formation and some short covering in previous trading
CEATLTD
1148700
9.62
1269.05
0.03
session.
NTPC
16312000
8.06
163.10
0.31
In Index options segment, FIIs were net buyers of Rs. 607
INFRATEL
3638800
6.68
381.70
-1.51
crores with some rise in open interest. In call option, we
CONCOR
625000
6.38
1111.60
-0.77
hardly saw any relevant activity. On the other hand,
KSCL
2407500
5.04
417.95
2.15
8200 put option added decent amount of OI. Highest OI
in current series is visible in 8300 call and 8000 put
OI Losers
option.
OI
PRICE
SCRIP
OI
PRICE
In past few days, we witnessed decent OI addition in
CHG. (%)
CHG. (%)
Nifty and most of them are longs. Despite market being
IGL
1383800
-12.09
832.50
1.55
range bound, FIIs added good amount of long positions
BEL
1493100
-7.08
1456.80
1.38
in both Index futures and Stock Futures. In addition, we
MRF
27765
-5.85
50304.70
-0.30
also saw buying figure in equities after quite some time.
OIL
1139000
-4.96
436.90
0.02
Considering above data, we may see further upside in
AMBUJACEM
12672500
-4.39
210.60
0.24
Nifty towards 8300 - 8350 levels. Thus, we advise
PCJEWELLER
1093500
-4.33
360.50
-1.14
traders to trade with positive bias unless we see any
TORNTPHARM
260400
-4.12
1346.25
0.87
meaningful change in data.
HDIL
22960000
-3.95
63.35
1.44
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TORNTPOWER
37.54
NIFTY
1.03
0.96
BEML
43.40
BANKNIFTY
0.97
0.77
TATACHEM
41.12
SBIN
0.54
0.49
SIEMENS
32.93
INFY
0.52
0.70
TATAPOWER
37.21
RELIANCE
0.47
0.36
www.angelbroking.com
2
Technical & Derivatives Report
December 07, 2016
FII Statistics for December 06, 2016
Turnover on December 06, 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1192.46
976.50
215.97
176212
11130.04
0.42
163572
10777.71
-20.25
FUTURES
FUTURES
INDEX
INDEX
24404.60
23798.01
606.60
991292
61540.56
1.55
2162842
145378.63
-5.01
OPTIONS
OPTIONS
STOCK
4533.04
4623.83
(90.78)
853947
52223.73
0.21
STOCK
FUTURES
349363
23875.87
-8.63
FUTURES
STOCK
STOCK
2067.68
2055.95
11.73
65111
4189.23
3.48
OPTIONS
184303
13238.73
-7.43
OPTIONS
TOTAL
32197.79
31454.28
743.51
2086562
129083.56
0.96
TOTAL
2860080
193270.94
-6.63
Nifty Spot = 8143.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8200
103.80
Buy
8200
137.65
43.35
56.65
8243.35
39.25
60.75
8160.75
Sell
8300
60.45
Sell
8100
98.40
Buy
8200
103.80
Buy
8200
137.65
www.angelbroking.com
71.25
128.75
8271.25
67.45
132.55
8132.55
Sell
8400
32.55
Sell
8000
70.20
Buy
8300
60.45
Buy
8100
98.40
27.90
72.10
8327.90
28.20
71.80
8071.80
Sell
8400
32.55
Sell
8000
70.20
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
3
Technical & Derivatives Report
December 07, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,351
1,332
1,341
1,349
1,359
ADANIPORTS
272
268
270
272
274
AMBUJACEM
211
208
209
211
212
ASIANPAINT
934
914
924
934
945
AUROPHARMA
731
722
727
731
736
AXISBANK
456
449
452
458
461
BAJAJ-AUTO
2,733
2,708
2,721
2,738
2,750
BANKBARODA
162
161
161
163
164
BHEL
128
126
127
128
129
BPCL
613
600
607
611
618
BHARTIARTL
329
321
325
329
332
INFRATEL
382
371
376
383
388
BOSCH
20,466
20,024
20,245
20,621
20,842
CIPLA
575
566
570
575
580
COALINDIA
306
302
304
307
309
DRREDDY
3,196
3,164
3,180
3,196
3,212
EICHERMOT
22,458
22,001
22,229
22,609
22,837
GAIL
431
425
428
432
435
GRASIM
874
857
866
875
883
HCLTECH
781
764
772
787
795
HDFCBANK
1,194
1,183
1,189
1,196
1,201
HDFC
1,243
1,199
1,221
1,240
1,263
HEROMOTOCO
3,197
3,157
3,177
3,210
3,230
HINDALCO
175
172
174
176
177
HINDUNILVR
836
823
830
840
846
ICICIBANK
261
258
259
261
263
IDEA
74
72
73
74
75
INDUSINDBK
1,083
1,064
1,073
1,083
1,092
INFY
967
951
959
969
977
ITC
230
227
229
231
232
KOTAKBANK
734
727
730
734
738
LT
1,362
1,348
1,355
1,365
1,372
LUPIN
1,527
1,508
1,517
1,533
1,542
M&M
1,175
1,160
1,167
1,180
1,188
MARUTI
5,135
5,028
5,082
5,171
5,225
NTPC
163
160
162
164
165
ONGC
299
295
297
298
300
POWERGRID
183
180
181
184
186
RELIANCE
1,005
990
998
1,002
1,010
SBIN
259
255
257
259
261
SUNPHARMA
706
693
700
711
717
TCS
2,182
2,151
2,167
2,185
2,201
TATAMTRDVR
292
287
290
293
295
TATAMOTORS
441
434
438
442
445
TATAPOWER
75
74
74
75
76
TATASTEEL
418
408
413
417
422
TECHM
465
459
462
466
469
ULTRACEMCO
3,602
3,531
3,566
3,592
3,628
WIPRO
458
452
455
459
462
YESBANK
1,193
1,163
1,178
1,192
1,207
ZEEL
447
438
442
448
452
www.angelbroking.com
4
Technical & Derivatives Report
December 07, 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 Metropolitan 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/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.
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
www.angelbroking.com
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. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
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.
www.angelbroking.com
5