Technical & Derivatives Report
December 08, 2016
Sensex (26237) / Nifty (8102)
Exhibit 1: Nifty Daily Chart
For the second consecutive session, our markets opened on a
positive note owing to persistent favorable cues from the global
bourses. As expected, the index slipped into a consolidation mode
and immediately post the midsession, the Nifty made an attempt
towards the 8200 mark. However, the RBI Governor puzzled
everyone by keeping the interest rates unchanged, where the
expectation was built for at least 25bps cut. This resulted into a
sharp decline in the concluding hour to test sub 8100 levels.
However, a modest recovery from lows led to a close with half a
percent cut over its previous close.
Now, with reference to our previous article, despite yesterday’s
corrective move, we do not want to change our optimistic stance.
Because, there are few technical evidences that are still indicating
limited downside from current levels. Hence, considering the
placement of ‘RSI-Smoothened’ on daily chart, we would still
expect Monday’s low as a probable ‘Higher Low’. For the
forthcoming session, 8190 - 8251 would be seen as immediate
hurdles; whereas on the other hand, 8077 - 8056 would act as a
strong support zone for the Nifty.
Key Levels
Support 1 - 8077
Resistance 1 - 8190
Support 2 - 8056
Resistance 2 - 8251
Nifty Bank Outlook - (18234)
Exhibit 2: Nifty Bank Daily Chart
Post a marginal positive opening, the Nifty Bank traded with
positive bias till the announcement of the RBI monetary policy
statement around 2.30 p.m. The Reserve Bank kept the key rate
unchanged, which was not expected by many of the market
participants. The index reacted negatively to the announcement,
and within a span of just 5 minutes, the Nifty Bank index lost
more than 600 points from the high of the day. Although the
index recovered marginally from the low point, it ended the
session with loss of 1.01 percent.
In our last couple of reports, we had mentioned about the
important supports of 18143 (9th November low) and 17800
(200 SMA). Insipite of the index breaching its support of 18143,
we are not expecting significant downside as the 200-day SMA,
which is placed around 17800 is likely to act as strong support.
Citing this correction to be the last leg of the ongoing corrective
move, we continue to advise traders to refrain from creating short
positions. The intraday supports for the Nifty Bank index are
placed around 17950 and 17800 whereas resistances are seen
around 18395 and 18520.
Key Levels
Support 1 - 17950
Resistance 1 - 18395
Support 2 - 17800
Resistance 2 - 18520
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Technical & Derivatives Report
December 08, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.02%
BankNifty futures open interest has increased by 9.53%
as market closed at 8102.05 levels.
The Nifty December future closed with a premium of
21.03 against the premium of 25.90 points in last
trading session. The January series closed at a premium
of 50.15 points.
The Implied Volatility of at the money options has
decreased from 14.93% to 14.78%. At the same time,
the PCR-OI of Nifty has increased from 1.03 to 1.05
levels.
The total OI of the market is Rs. 2,47,794/- cr. and the
stock futures OI is Rs. 67,010/- cr.
Few of the liquid counters where we have seen high cost
of carry are JINDALSTEL, ENGINERSIN, TV18BRDCST,
JPASSOCIAT and CAIRN.
Views
OI Gainers
FIIs were net buyers in cash market segment from past
OI
PRICE
SCRIP
OI
PRICE
two days. However the quantum wasn’t significant, they
CHG. (%)
CHG. (%)
bought equities worth Rs. 194 crores. While, in index
TATAPOWER
23409000
12.16
74.30
-1.13
futures, they were net buyers of Rs. 212 crores with good
BANKINDIA
22860000
12.12
114.25
-2.69
amount of rise in open interest, indicating blend of both
INFRATEL
4012600
10.27
378.90
-0.48
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long and short formation in previous trading session.
TORNTPOWER
2658000
8.98
181.65
-0.52
In Index options segment, FIIs were net buyers of Rs. 503
SUNPHARMA
25701500
8.20
664.00
-6.04
crores with some rise in open interest. We hardly saw any
ENGINERSIN
6639500
7.60
298.05
1.62
meaningful activity in Nifty options. However, out-the-
EICHERMOT
207325
7.06
23382.00
3.80
money put, 7500 strike added some positions. Highest
HEROMOTOCO
1465600
5.50
3228.20
0.60
OI in current series is visible in 8300 call and 8000 put
option.
OI Losers
In past few days, we witnessed decent OI addition in
OI
PRICE
SCRIP
OI
PRICE
Nifty and most of them are longs. Despite market being
CHG. (%)
CHG. (%)
range bound, FIIs added good amount of long positions
INDUSINDBK
3972600
-9.50
1076.15
-0.68
in Index futures. In addition, we are also witnessing
PETRONET
3372000
-9.10
386.90
0.72
buying figures in equities after quite some time.
BHARATFORG
3691200
-7.28
915.25
1.80
Considering above data, we believe Nifty has limited
ORIENTBANK
12234000
-6.25
117.10
-1.30
downside, 8000-8050 is a strong support zone. Thus, we
OIL
1071000
-5.97
436.75
-0.13
advise traders to trade with positive bias unless we see
DIVISLAB
1266000
-4.70
1160.75
0.32
any meaningful change in data.
CEATLTD
1094800
-4.69
1253.00
-0.87
KOTAKBANK
7658400
-4.55
734.35
-0.05
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
SUNPHARMA
47.01
NIFTY
1.05
0.95
BPCL
31.87
BANKNIFTY
0.85
0.65
GODREJIND
36.62
SBIN
0.53
0.48
SIEMENS
33.94
INFY
0.51
0.50
EICHERMOT
55.91
RELIANCE
0.47
0.44
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2
Technical & Derivatives Report
December 08, 2016
FII Statistics for December 07, 2016
Turnover on December 07, 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1786.21
1574.52
211.69
185215
11630.29
5.11
270575
18024.75
67.24
FUTURES
FUTURES
INDEX
INDEX
40176.93
39673.69
503.24
1011195
62404.06
2.01
4084584
281914.34
93.92
OPTIONS
OPTIONS
STOCK
5617.39
5965.58
(348.18)
858883
52261.81
0.58
STOCK
FUTURES
439223
28880.49
20.96
FUTURES
STOCK
STOCK
3209.56
3260.28
(50.73)
68396
4372.82
5.05
OPTIONS
249636
17059.46
28.86
OPTIONS
TOTAL
50790.09
50474.07
316.02
2123689
130668.99
1.78
TOTAL
5044018
345879.05
78.96
Nifty Spot = 8102.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8100
129.75
Buy
8100
110.05
51.60
48.40
8151.60
32.65
67.35
8067.35
Sell
8200
78.15
Sell
8000
77.40
Buy
8100
129.75
Buy
8100
110.05
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87.35
112.65
8187.35
56.00
144.00
8044.00
Sell
8300
42.40
Sell
7900
54.05
Buy
8200
78.15
Buy
8000
77.40
35.75
64.25
8235.75
23.35
76.65
7976.65
Sell
8300
42.40
Sell
7900
54.05
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
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Technical & Derivatives Report
December 08, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,339
1,345
1,353
1,358
1,366
ADANIPORTS
267
272
278
283
288
AMBUJACEM
205
207
211
213
217
ASIANPAINT
916
924
936
944
957
AUROPHARMA
710
716
726
732
742
AXISBANK
432
440
449
456
465
BAJAJ-AUTO
2,654
2,677
2,709
2,731
2,763
BANKBARODA
152
155
160
163
168
BHEL
125
126
128
129
131
BPCL
609
620
627
639
646
BHARTIARTL
320
324
329
334
339
INFRATEL
373
376
380
383
388
BOSCH
19,846
20,050
20,375
20,579
20,904
CIPLA
564
568
573
576
581
COALINDIA
302
304
306
307
310
DRREDDY
3,149
3,167
3,188
3,205
3,226
EICHERMOT
22,131
22,757
23,137
23,762
24,142
GAIL
418
423
429
434
440
GRASIM
865
871
876
882
887
HCLTECH
764
775
782
793
800
HDFCBANK
1,146
1,164
1,185
1,203
1,224
HDFC
1,227
1,246
1,265
1,284
1,302
HEROMOTOCO
3,180
3,204
3,227
3,251
3,274
HINDALCO
170
173
175
177
179
HINDUNILVR
825
829
837
841
849
ICICIBANK
245
252
258
265
271
IDEA
73
74
75
77
78
INDUSINDBK
1,043
1,060
1,074
1,091
1,105
INFY
954
960
967
973
979
ITC
223
225
228
230
233
KOTAKBANK
718
726
733
741
748
LT
1,335
1,344
1,360
1,369
1,385
LUPIN
1,473
1,489
1,517
1,533
1,561
M&M
1,157
1,169
1,183
1,195
1,209
MARUTI
4,946
5,031
5,120
5,206
5,295
NTPC
161
162
164
165
167
ONGC
294
295
298
300
302
POWERGRID
180
181
183
185
187
RELIANCE
990
994
1,001
1,006
1,012
SBIN
246
251
257
262
268
SUNPHARMA
635
649
675
689
715
TCS
2,123
2,139
2,162
2,177
2,200
TATAMTRDVR
287
289
292
295
298
TATAMOTORS
435
440
445
450
455
TATAPOWER
71
73
75
77
80
TATASTEEL
401
407
414
419
427
TECHM
444
450
460
466
476
ULTRACEMCO
3,483
3,526
3,597
3,639
3,710
WIPRO
447
450
455
458
463
YESBANK
1,149
1,169
1,194
1,214
1,239
ZEEL
431
436
442
447
453
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Technical & Derivatives Report
December 08, 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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