Technical & Derivatives Report
November 21, 2016
Sensex (26150) / Nifty (8074)
Exhibit 1: Nifty Daily Chart
The Nifty opened with marginal upside gap on Friday and traded
in a narrow range in first half of the session. However, we
witnessed some positive momentum in the later half; but, the up
move was sold off quickly and eventually the index ended the
session with loss of 0.07 percent.
At this juncture, although the overall momentum is negative, we
do not want to participate on the short side. Technically speaking,
the Nifty is hovering around the ‘200 SMA’ since last four days
and is currently a tad below the average. This level coincides with
the ’89 EMA’ on weekly chart and hence, 8050-8000 should be
considered as a strong support zone. We advise traders to avoid
shorting at current level and in fact, aggressive traders can
consider this dip as a buying opportunity by keeping a strict stop
loss below 8000 on a sustainable basis. In case of breaking
8000, we do not expect major corrections in the market as we see
a possibility of false breakdown. The important reason behind this
hypothesis is the placement of ‘RSI-Smoothened’ on daily chart
below the 11 mark. Historically speaking, whenever this indicator
falls to such a lower level, the market tends to give a sharp
bounce in the near term and we expect the index to bounce on
the upside towards
8280
-
8400 levels. Traders need to
understand that the market has undergone a decent price-wise
correction and now, we expect a time-correction within the broad
range for some time.
Key Levels
Support 1 - 8050
Resistance 1 - 8150
Support 2 - 8000
Resistance 2 - 8220
Nifty Bank Outlook - (18959)
Exhibit 2: Nifty Bank Daily Chart
Post a positive opening, the bears controlled the market
proceedings on Friday too. As a result, the Nifty Bank index
ended the session with loss of 0.67 percent over its previous
close.
The banking index has outperformed the Nifty in recent past, is
now hovering around ’89 EMA’ on daily chart. Although, we have
mentioned in our previous report too that the index is trading
near the support zone and the momentum readings too are in
oversold zone. Hence, we continue to advise traders to avoid
creating short positions at current levels. The near term volatility is
expected to remain high and thus, traders should follow proper
risk management strategies. Immediate supports for the index are
placed at 18900 and 18760 levels; while, intraday resistances
are seen at 19100 - 19217 levels.
Key Levels
Support 1 - 18900
Resistance 1 - 19100
Support 2 - 18760
Resistance 2 - 19217
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Technical & Derivatives Report
November 21, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 3.95%
BankNifty futures open interest has increased by 6.67%
as market closed at 8074.10 levels.
The Nifty November future closed with a premium of
0.60 against the premium of 8.40 points in last trading
session. The December series closed at a premium of
47.15 points.
The Implied Volatility of at the money options has
decreased from 17.78% to 16.43%. At the same time,
the PCR-OI of Nifty remained unchanged at 0.74 levels.
The total OI of the market is Rs. 2,85,991/- cr. and the
stock futures OI is Rs. 72,218/- cr.
Few of the liquid counters where we have seen high cost
of carry are NHPC, JPASSOCIAT, DLF, SOUTHBANK and
JSWENERGY.
Views
OI Gainers
On Friday, FIIs continue to sell in both cash market
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
segment and in Index Futures. They sold equities worth
ULTRACEMCO
1397600
23.05
3381.90
1.58
Rs. 926 crores. While, in index futures, they were net
PETRONET
6268500
15.22
377.35
8.14
sellers worth Rs. 597 crores with rise in open interest,
SRF
561500
13.66
1430.45
-2.52
indicating fresh short formation in previousgtradingng.com
SBIN
75582000
10.57
276.00
-0.81
session.
SAIL
82308000
9.90
48.80
-2.20
In Index options segment, FII sold marginally with rise in
VOLTAS
3910000
8.79
293.50
-3.01
open interest. In call options, we witnessed fresh build-up
BATAINDIA
3927000
8.38
421.70
-0.34
in 8100 and 8300 strikes; followed by unwinding in
8400 strike. On the other hand, in put options, we hardly
PCJEWELLER
1203000
7.36
337.45
-1.06
saw any meaningful open interest addition. However,
7900 put option was comparatively active and it also
OI Losers
added some fresh positions. Highest OI in current series
OI
PRICE
SCRIP
OI
PRICE
is visible in 8500 call and 8000 put options.
CHG. (%)
CHG. (%)
DCBBANK
2556000
-9.55
110.25
3.67
Last week, FIIs continued adding short positions in Index
HINDZINC
7680000
-7.51
249.65
-0.34
Futures due to which the long short ratio has decreased
TORNTPHARM
366000
-7.29
1311.00
4.02
to 55% now. While in options front, they continue writing
ASHOKLEY
64470000
-6.61
79.65
0.89
call options in a big way. Thus, looking at the above
data, we believe Nifty may find it difficult to show any
IDBI
36624000
-6.05
71.85
2.20
meaningful recovering in last few days of November
ONGC
17157500
-5.84
274.85
0.60
series. Thus, traders are suggested to stay light in Index
BOSCHLTD
84600
-5.79
19204.50
0.58
and adopt stock specific approach.
HCLTECH
6340600
-5.44
764.15
0.25
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
NTPC
30.96
NIFTY
0.74
0.81
PETRONET
62.85
BANKNIFTY
0.81
0.72
ENGINERSIN
53.87
SBIN
0.54
0.60
NHPC
47.31
ICICIBANK
0.45
0.38
HINDPETRO
36.95
RELIANCE
0.43
0.45
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Technical & Derivatives Report
November 21, 2016
FII Statistics for November 18, 2016
Turnover on November 18, 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1580.17
2177.24
(597.07)
214561
13711.10
5.71
260712
17129.38
-10.12
FUTURES
FUTURES
INDEX
INDEX
43629.67
43646.38
(16.71)
1332076
82859.73
2.23
4135149
270869.72
-50.08
OPTIONS
OPTIONS
STOCK
7975.15
7132.33
842.82
897536
53834.06
0.32
STOCK
FUTURES
527964
34232.01
5.25
FUTURES
STOCK
STOCK
4694.33
4642.32
52.02
128370
8186.43
1.74
OPTIONS
344634
23896.35
-11.59
OPTIONS
TOTAL
57879.33
57598.27
281.06
2572543
158591.32
1.81
TOTAL
5268459
346127.46
-44.28
Nifty Spot = 8074.10
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8100
55.55
Buy
8100
80.65
31.40
68.60
8131.40
38.00
62.00
8062.00
Sell
8200
24.15
Sell
8000
42.65
Buy
8100
55.55
Buy
8100
80.65
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46.45
153.55
8146.45
59.65
140.35
8040.35
Sell
8300
9.10
Sell
7900
21.00
Buy
8200
24.15
Buy
8000
42.65
15.05
84.95
8215.05
21.65
78.35
7978.35
Sell
8300
9.10
Sell
7900
21.00
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
November 21, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,279
1,294
1,306
1,322
1,334
ADANIPORTS
252
257
262
267
271
AMBUJACEM
189
194
197
202
205
ASIANPAINT
883
896
912
925
941
AUROPHARMA
706
714
721
729
736
AXISBANK
468
471
475
478
482
BAJAJ-AUTO
2,532
2,553
2,567
2,588
2,602
BANKBARODA
170
174
176
179
181
BHEL
131
133
134
136
137
BPCL
628
635
641
648
654
BHARTIARTL
292
298
301
307
310
INFRATEL
341
346
353
358
365
BOSCH
18,721
18,974
19,158
19,411
19,595
CIPLA
535
543
549
557
564
COALINDIA
301
304
307
309
312
DRREDDY
3,089
3,152
3,205
3,268
3,321
EICHERMOT
20,483
21,138
21,536
22,191
22,589
GAIL
415
421
431
437
448
GRASIM
791
805
815
829
838
HCLTECH
745
755
767
776
788
HDFCBANK
1,192
1,202
1,219
1,229
1,246
HDFC
1,233
1,242
1,252
1,260
1,270
HEROMOTOCO
2,842
2,889
2,917
2,964
2,992
HINDALCO
160
163
166
169
172
HINDUNILVR
785
794
804
813
824
ICICIBANK
259
262
265
268
272
IDEA
68
70
71
72
73
INDUSINDBK
1,077
1,089
1,110
1,122
1,143
INFY
908
914
924
930
939
ITC
224
226
229
230
233
KOTAKBANK
768
773
779
785
791
LT
1,350
1,360
1,371
1,382
1,393
LUPIN
1,400
1,409
1,417
1,426
1,435
M&M
1,210
1,225
1,236
1,251
1,262
MARUTI
4,841
4,896
4,943
4,998
5,045
NTPC
149
154
157
162
165
ONGC
271
273
275
277
280
POWERGRID
189
190
193
194
197
RELIANCE
977
982
987
993
998
SBIN
272
274
277
279
282
SUNPHARMA
651
670
681
700
712
TCS
2,081
2,103
2,126
2,149
2,172
TATAMTRDVR
289
294
297
302
306
TATAMOTORS
457
464
469
476
481
TATAPOWER
69
69
70
71
72
TATASTEEL
362
373
393
405
424
TECHM
433
439
444
450
455
ULTRACEMCO
3,228
3,310
3,358
3,440
3,488
WIPRO
428
433
437
442
447
YESBANK
1,150
1,165
1,175
1,191
1,201
ZEEL
428
437
452
461
476
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Technical & Derivatives Report
November 21, 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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