Technical & Derivatives Report
December 12, 2016
Sensex (26747) / Nifty (8262)
Exhibit 1: Nifty Daily Chart
It has been an eventful week on the global as well as domestic
front. Our markets had shown a tremendous resilience despite
some negative developments that took place during the midst of
the week. Now, with reference to our previous weekly article, we
maintained our optimistic stance and used all minor dips to
create fresh longs in market. This strategy has played out well for
us in the last two weeks and in the process, Nifty moved towards
the mentioned level of 8250 - 8300.
Technically speaking, a smart rally on Thursday followed by
marginal gains on Friday led to a confirmation of ‘Higher Top
Higher Bottom’ formation on daily chart, which certainly is an
encouraging sign. Now, combining this price structure along with
the rising ‘RSI-Smoothened’ oscillator, we expect Nifty to extend
this rally towards the daily ’89 EMA’ placed around 8380. If we
go to one time frame higher chart, the ‘Dragonfly Doji’ pattern
formed during the penultimate week indicates strength in the near
term. Thus, traders are now advised to stay optimistic by shifting
their focus more on individual stocks, which are likely to fetch
higher returns as compared to the index. The support for the
forthcoming week has now shifted higher towards 8151 - 8056
levels.
Key Levels
Support 1 - 8200
Resistance 1 - 8320
Support 2 - 8151
Resistance 2 - 8380
Nifty Bank Outlook - (18696)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index continued the previous day's momentum
and ended Friday's session with gains of 0.97 percent. Inspite of
all the volatility seen during the week, the Nifty Bank index
managed to post gains of 2.46 percent on weekly basis.
As highlighted last week, the downside seemed to be very limited
and inspite of the market participant's negative interpretation of
the RBI's policy outcome, the Nifty Bank index recovered sharply
in last two trading session. We had been repeatedly advising to
avoid creating short positions and thus, our optimistic view played
out well. Going forward, we are expecting the positive momentum
to continue in near term and expect the index to head higher
towards 18900 (20 DEMA). Thus, we continue to advise traders to
trade with positive bias. The intraday supports for the Nifty Bank
index are placed around 18531 and 18432 whereas resistances
are seen around 18877 - 18902.
Key Levels
Support 1 - 18531
Resistance 1 - 18877
Support 2 - 18432
Resistance 2 - 18902
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Technical & Derivatives Report
December 12, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.97%
BankNifty futures open interest has increased by 9.66%
as market closed at 8261.75 levels.
The Nifty December future closed with a premium of
15.25 against the premium of 8.80 points in last trading
session. The January series closed at a premium of
49.40 points.
The Implied Volatility of at the money options has
decreased from 13.08% to 12.92%. At the same time,
the PCR-OI of Nifty has increased from 1.09 to 1.10
levels.
The total OI of the market is Rs. 2,46,785/- cr. and the
stock futures OI is Rs. 69,521/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, IBULHSGFIN, SOUTHBANK,
BRITANNIA and NIITTECH.
Views
OI Gainers
FIIs were net buyers in both cash market segment and
OI
PRICE
SCRIP
OI
PRICE
index futures. They bought equities to the tune of Rs. 201
CHG. (%)
CHG. (%)
crores. While, in index futures they were net buyers worth
INFRATEL
5093000
24.86
358.00
-3.28
Rs. 241 crores with good amount of rise in open interest,
NIITTECH
643000
15.23
437.90
2.61
indicating blend of long and short formation.
BIOCON
3061100
9.41
943.65
2.19
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In Index options segment, FIIs were marginal buyers with
MRF
29550
8.54
53033.50
2.25
rise in open interest. We hardly saw any meaningful
PFC
14040000
8.28
135.20
2.18
activity in call option. While on the other hand, 8300 put
COALINDIA
12474600
8.21
306.45
-1.47
option was quite active and it also added decent amount
ORIENTBANK
13068000
7.13
123.65
4.50
of open interest. Highest OI in current series is visible in
DCBBANK
2119500
6.56
107.20
0.19
8300 call and 8000 put option.
Last week, Nifty bounced with good amount of open
OI Losers
interest addition, which suggests long formation. FIIs too
OI
PRICE
SCRIP
OI
PRICE
equally participated in this move, they added good
CHG. (%)
CHG. (%)
amount of longs in Index and Stock Futures. While, we
TATAPOWER
21321000
-6.92
77.05
2.18
also witnessed some liquidity coming in cash segment by
MCLEODRUSS
3966000
-5.97
152.35
2.14
stronger hands after quite some time. In options front,
SUNTV
8362000
-4.78
517.40
7.35
FIIs have been writing 8100-8200 put options, indicating
JINDALSTEL
52578000
-4.78
74.20
1.22
shift of support to 8100-8150 levels. Thus, looking at the
ICIL
3646500
-4.70
164.65
0.95
above data, we expect Nifty to strengthen in near term.
IRB
10462500
-3.50
191.50
-0.13
Traders are suggested to trade with a positive bias unless
UPL
5206800
-3.38
695.50
-0.39
we see any relevant change in data.
TATAMOTORS
23560500
-3.17
464.10
0.61
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
IFCI
81.40
NIFTY
1.10
1.14
CESC
37.65
BANKNIFTY
1.39
0.82
IDBI
42.71
SBIN
0.67
0.41
SUNTV
79.34
INFY
0.54
0.52
ORIENTBANK
51.80
RELIANCE
0.67
0.66
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Technical & Derivatives Report
December 12, 2016
FII Statistics for December 09, 2016
Turnover on December 09, 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1670.63
1429.98
240.65
211188
13493.27
5.09
188569
12848.90
-19.83
FUTURES
FUTURES
INDEX
INDEX
27338.18
27316.97
21.21
1058247
66660.77
2.25
2266119
152220.76
-64.53
OPTIONS
OPTIONS
STOCK
5311.68
5503.71
(192.03)
872713
54285.69
0.62
STOCK
FUTURES
426958
29305.22
-2.07
FUTURES
STOCK
STOCK
2644.38
2689.00
(44.62)
73204
4797.92
2.37
OPTIONS
243719
17374.05
-0.45
OPTIONS
TOTAL
36964.87
36939.67
25.20
2215352
139237.64
1.87
TOTAL
3125365
211748.93
-57.01
Nifty Spot = 8261.75
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8300
84.25
Buy
8200
72.50
41.50
58.50
8341.50
24.85
75.15
8175.15
Sell
8400
42.75
Sell
8100
47.65
Buy
8300
84.25
Buy
8200
72.50
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65.25
134.75
8365.25
40.75
159.25
8159.25
Sell
8500
19.00
Sell
8000
31.75
Buy
8400
42.75
Buy
8100
47.65
23.75
76.25
8423.75
15.90
84.10
8084.10
Sell
8500
19.00
Sell
8000
31.75
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 12, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,344
1,361
1,373
1,391
1,403
ADANIPORTS
280
283
287
290
294
AMBUJACEM
210
213
215
218
220
ASIANPAINT
925
933
944
952
962
AUROPHARMA
716
720
724
728
732
AXISBANK
441
449
453
461
466
BAJAJ-AUTO
2,671
2,695
2,741
2,766
2,811
BANKBARODA
155
159
161
164
166
BHEL
127
128
129
130
131
BPCL
620
627
633
640
645
BHARTIARTL
325
328
333
337
341
INFRATEL
345
352
362
369
379
BOSCH
20,285
20,512
20,728
20,955
21,170
CIPLA
571
575
580
584
590
COALINDIA
301
304
309
311
316
DRREDDY
3,138
3,162
3,190
3,214
3,241
EICHERMOT
22,246
22,545
23,084
23,384
23,923
GAIL
423
426
430
433
438
GRASIM
863
871
884
892
906
HCLTECH
775
789
797
812
820
HDFCBANK
1,182
1,190
1,196
1,204
1,211
HDFC
1,243
1,256
1,273
1,285
1,302
HEROMOTOCO
3,225
3,251
3,292
3,318
3,359
HINDALCO
177
180
182
184
186
HINDUNILVR
832
839
843
849
853
ICICIBANK
260
264
267
271
274
IDEA
75
76
77
78
78
INDUSINDBK
1,083
1,098
1,107
1,122
1,132
INFY
966
978
993
1,005
1,020
ITC
229
233
236
240
243
KOTAKBANK
737
741
747
751
757
LT
1,348
1,355
1,364
1,371
1,380
LUPIN
1,487
1,499
1,514
1,526
1,540
M&M
1,161
1,175
1,197
1,211
1,233
MARUTI
5,138
5,187
5,250
5,298
5,361
NTPC
160
162
163
165
166
ONGC
303
305
306
308
310
POWERGRID
182
183
185
186
187
RELIANCE
1,015
1,022
1,027
1,034
1,039
SBIN
256
261
264
270
273
SUNPHARMA
664
669
676
680
687
TCS
2,150
2,172
2,196
2,219
2,243
TATAMTRDVR
298
301
305
308
313
TATAMOTORS
456
460
464
468
472
TATAPOWER
74
76
77
78
79
TATASTEEL
424
428
431
434
438
TECHM
461
466
471
476
481
ULTRACEMCO
3,523
3,546
3,577
3,600
3,631
WIPRO
454
456
459
461
463
YESBANK
1,195
1,207
1,216
1,229
1,237
ZEEL
451
456
460
464
469
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Technical & Derivatives Report
December 12, 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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