Technical & Derivatives Report
February 10, 2016
Sensex (24021) / Nifty (7298)
Exhibit 1: Nifty Daily Chart
A tail-end collapse on Monday was followed by a gap down
opening in our market citing continued negative cues from the
global bourses. Subsequently, the Nifty traded within a narrow
range throughout the session to conclude tad below the 7300
mark.
Due to gap down opening, the index sneaked below
Wednesday’s low of 7350.30 and thus, we witnessed a bit of
weakness in the broader market. However, we saw stock specific
movement throughout the session, which is slightly encouraging.
We maintain our view that traders should refrain from shorting as
we are not expecting a significant correction from current level.
Going forward, recent low of 7241.90 would now be seen an
important support level; whereas, it would be very important for
Nifty to move beyond the 7350 mark in order to gain some
strength. At present, a prudent strategy would be to concentrate
on individual stocks and trade with a proper exit strategy.
Key Levels
Support 1 - 7241
Resistance 1 - 7350
Support 2 - 7200
Resistance 2 -
7440
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (14875)
Yesterday, the Nifty opened with the loss of more than 200
points owing to the negative cues from global bourses. But,
post the gap down opening, follow-up selling was missing in
the banking index. Eventually, the volatile session with in a
range has ended with the loss of 1.14 percent over its previous
close. Despite yesterday’s fall, the Nifty Bank index managed
to defend the previous two lows of 14754.65 and 14761.40
and formed a ‘Spinning Top’ candle in the daily chart. The
formation of mentioned candle can be a reversal trigger on a
follow-up buying above yesterday’s high of 14965 levels.
Going forward, 14750 would remain a crucial support for the
banking index and a sustainable move below that level may
drag the index to 14550 levels. On the flipside, immediate
resistance is placed at 14965 and 15050 levels. Traders are
advised to wait for further developments to initiate new trade
in the banking index.
Key Levels
Support 1 - 14750
Resistance 1 - 14965
Support 2 - 14550
Resistance 2 - 15050
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Technical & Derivatives Report
February 10, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 3.20%
BankNifty futures open interest has decreased by 1.56%
as market closed at 7298.20 levels.
The Nifty February future closed at a premium of 26.85
points against a premium of 6.20 points. The March
series closed at a premium of 46.25 points.
The Implied Volatility of at the money options has
increased from 18.72% to 19.91%.
The total OI of the market is Rs. 2,17,375/- cr. and the
stock futures OI is Rs. 59,863/- cr.
Few of the liquid counters where we have seen high cost
of carry are UNITECH, IDFC, INDIACEM, TATAMTRDVR
and IRB.
Views
FIIs were net sellers in cash market segment to the tune
OI Gainers
of Rs. 680 crores. While in Index Futures, they were net
OI
PRICE
buyers of Rs. 607 crores with marginal change in open
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
interest indicating blend of long formation and short
MOTHERSUMI
13492500
34.35
240.70
-11.67
covering in last trading session.
PNB
36376000
25.87
86.85
-7.66
In Index Options front, they bought significantly of Rs.
JUSTDIAL
3664000
12.98
497.15
-6.10
3135 crores with decent rise in OI. In call options, 7300
PIDILITIND
741000
9.45
579.25
-3.66
and 7400 strikes added decent build-up, followed by
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SAIL
43308000
8.40
38.30
-2.54
unwinding in 7800 call option. While in put options,
7100 strike added huge OI which may be longs. Some
OI Losers
build-up was also seen in 7800, 7000 and 7200 put
OI
PRICE
options. Maximum OI in current series remains intact in
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
7600 call and of put options has shifted to 7200 strike.
TVSMOTOR
3038000
-7.77
286.15
-0.49
Seeing today’s global market data, we believe Nifty may
INFRATEL
2639000
-6.37
358.45
-2.45
continue to remain under pressure. We would suggest
CESC
3074000
-5.21
432.80
-3.63
trading light in Nifty and adopting stock specific
JSWENERGY
7632000
-5.00
69.65
-1.07
approach.
NTPC
17756000
-4.64
126.10
2.15
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
MOTHERSUMI
78.02
NIFTY
0.82
0.79
HCLTECH
33.98
BANKNIFTY
0.81
0.73
TECHM
36.94
SBIN
0.60
0.54
PNB
61.42
MARUTI
0.41
0.35
IBULHSGFIN
52.55
ICICIBANK
0.56
0.52
Strategy Date
Symbol
Strategy
Status
February 01, 2016
BHEL
Bull Call Spread
Active
February 08, 2016
NIFTY
Short Strangle
Active
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Technical & Derivatives Report
February 10, 2016
FII Statistics for 09-February 2016
Turnover on 09-February 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2485.68
1877.96
607.72
217868
11420.33
0.02
313488
16042.07
-5.03
FUTURES
FUTURES
INDEX
INDEX
36891.58
33756.70
3134.88
1221245
65853.98
4.74
3458564
188670.08
14.87
OPTIONS
OPTIONS
STOCK
3909.90
5204.06
(1294.16)
1128917
49244.31
0.90
STOCK
FUTURES
616944
27067.22
7.02
FUTURES
STOCK
STOCK
2389.96
2406.17
(16.21)
61560
2664.50
3.19
OPTIONS
354504
16092.24
3.63
OPTIONS
TOTAL
45677.12
43244.88
2432.24
2629590
129183.12
2.63
TOTAL
4743500
247871.60
11.67
Nifty Spot = 7298.20
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7300
133.60
Buy
7300
111.80
48.90
51.10
7348.90
35.20
64.80
7264.80
Sell
7400
84.70
Sell
7200
76.60
Buy
7300
133.60
Buy
7300
111.80
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85.15
114.85
7385.15
59.80
140.20
7240.20
Sell
7500
48.45
Sell
7100
52.00
Buy
7400
84.70
Buy
7200
76.60
36.25
63.75
7436.25
24.60
75.40
7175.40
Sell
7500
48.45
Sell
7100
52.00
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Feb. Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
February 10, 2016
Daily Pivot Levels for Nifty 50 Stocks
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,258
1,268
1,281
1,291
1,304
ADANIPORTS
206
208
211
213
215
AMBUJACEM
194
196
197
199
200
ASIANPAINT
870
877
886
893
901
AXISBANK
391
395
401
405
411
BAJAJ-AUTO
2,316
2,346
2,368
2,398
2,420
BANKBARODA
118
121
126
129
134
BHARTIARTL
304
308
311
315
318
BHEL
128
130
132
133
135
BOSCHLTD
15,951
16,153
16,302
16,504
16,653
BPCL
804
815
827
837
850
CAIRN
118
122
124
128
130
CIPLA
539
548
559
568
579
COALINDIA
298
304
313
319
328
DRREDDY
2,841
2,900
3,008
3,067
3,175
GAIL
333
341
347
355
361
GRASIM
3,344
3,371
3,417
3,444
3,489
HCLTECH
782
796
820
834
858
HDFC
1,128
1,144
1,156
1,172
1,185
HDFCBANK
1,015
1,021
1,026
1,032
1,037
HEROMOTOCO
2,483
2,532
2,564
2,613
2,645
HINDALCO
66
68
69
71
73
HINDUNILVR
814
820
831
837
849
ICICIBANK
196
203
207
214
218
IDEA
98
100
102
104
105
INDUSINDBK
850
859
869
878
888
INFY
1,075
1,091
1,110
1,126
1,145
ITC
308
310
312
314
316
KOTAKBANK
655
666
673
684
691
LT
1,089
1,102
1,115
1,127
1,140
LUPIN
1,749
1,827
1,870
1,948
1,990
M&M
1,154
1,169
1,193
1,207
1,231
MARUTI
3,586
3,622
3,655
3,691
3,724
NTPC
119
123
125
128
130
ONGC
207
213
216
222
225
PNB
82
85
90
93
98
POWERGRID
138
140
143
145
147
RELIANCE
940
949
959
968
978
SBIN
162
165
169
171
175
VEDL
67
68
70
72
74
SUNPHARMA
815
834
848
867
880
TATAMOTORS
300
305
314
319
328
TATAPOWER
58
59
59
60
61
TATASTEEL
227
231
234
239
242
TCS
2,212
2,247
2,290
2,325
2,368
TECHM
433
441
454
462
476
ULTRACEMCO
2,698
2,732
2,790
2,824
2,882
WIPRO
531
534
537
539
543
YESBANK
725
736
752
763
780
ZEEL
380
385
393
397
405
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Technical & Derivatives Report
February 10, 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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