Technical & Derivatives Report
January 22, 2016
Sensex (23962) / Nifty (7277)
Exhibit 1: Nifty Daily Chart
Yesterday, we were expecting our markets to open on a
positive note. Positive cues from other Asian bourses supported
this view and as a result, we witnessed a gap opening in our
market by more than half a percent. However, this early
morning lead was very short lived as the Nifty struggled to
cross the intraday hurdle of 7400. This failure eventually
resulted in a sharp cut to re-test Wednesday’s low of 7241.50.
However, a minor recovery towards the latter part led to end
yet another volatile session slightly inside the negative territory.
Despite this roller-coaster ride, we maintain our view that the
Nifty is trading near a strong support zone and hence, traders
should avoid initiating fresh short positions. Rather, stock
specific long ideas in strong counters can prove out to be a
prudent strategy. Considering the higher volatility, traders
should be very selective on their trades and should follow
proper exit strategy to avoid heavy losses. The immediate
support for the Nifty is placed at 7240; whereas, the resistance
zone is seen around 7329 and 7400.
Key Levels
Support 1 - 7290
Resistance 1 - 7425
Support 2 - 7240
Resistance 2 - 7465
Exhibit 2: Bank Nifty Weekly Chart
Bank Nifty Outlook - (15101)
In yesterday's trading session, the Bank Nifty opened
marginally higher on the back of positive global cues.
However, the volatile action continued throughout the session
and ended the day around the opening ticks. This has led to
formation of a 'Doji' candle on daily charts, which indicates
indecision. In Bank Nifty Fut., we had seen formation of a
'Hammer' pattern on Wednesday followed by a 'Doji' candle
yesterday. This indicates that the bears are losing the grip and
this could lead to a pullback move in near term. We advise
traders to follow stock specific approach as the beaten down
stock within the sector could give a pullback upmove in near
term. The immediate support for the Nifty Bank index is placed
around 14900 and 14700; whereas, resistances are seen
around 15370 and 15793.
Key Levels
Support 1 - 14900
Resistance 1 - 15370
Support 2 - 14700
Resistance 2 - 15793
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Technical & Derivatives Report
January 22, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.11%
BankNifty futures open interest has decreased by 2.22%
as market closed at 7276.80 levels.
The Nifty January future closed at a premium of 14.05
points against a discount of 2.35 points. The February
series closed at a premium of 25.90 points.
The Implied Volatility of at the money options has
increased from 18.57% to 19.48 %.
The total OI of the market is Rs. 2,57,027/- cr. and the
stock futures OI is Rs. 59,974/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, JPASSOCIAT, JINDALSTEL,
KTKBANK and NMDC.
Views
OI Gainers
OI
PRICE
In equity segment, FIIs continue to sell to the tune of Rs.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
1747 crores. In Index Futures, they bought worth Rs. 329
GODREJCP
182800
20.26
1133.05
-5.10
crores with rise in OI, indicating long formation in last
M&MFIN
17780000
17.02
204.40
-6.22
trading session.
EXIDEIND
11366200
15.08
120.10
-4.23
In Index Options front, they sold of Rs. 175 crores with
ABIRLANUVO
1084500
13.29
920.80
3.99
rise in open interest. Yesterday the overall activity in both
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IDBI
41504000
11.26
56.10
7.06
call and put options was subdued. Maximum build-up in
current series is now visible in 7500 call and 7300 put
OI Losers
options. Even thought we are seeing continuous selling
OI
PRICE
pressure, FIIs bought in Index Futures. We believe, we
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
may not see any major fall or bounce in Nifty from
ULTRACEMCO
1621800
-9.94
2700.30
3.01
current levels in January series. Large cap counters that
BANKINDIA
26223000
-7.27
94.60
5.99
added good amount of OI are ACC, TATAMOTORS,
STAR
1942400
-5.43
1084.80
2.64
NMDC, MARUTI and CAIRN.
PNB
36904000
-5.35
88.85
1.95
KOTAKBANK
9816100
-4.07
661.50
0.06
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
M&MFIN
46.30
NIFTY
0.82
0.83
MARUTI
34.94
BANKNIFTY
0.70
0.81
EXIDEIND
37.11
SBIN
0.32
0.32
NMDC
44.56
RELIANCE
0.34
0.43
YESBANK
44.75
INFY
0.85
0.72
Strategy Date
Symbol
Strategy
Status
January 04, 2016
SBIN
Ratio Bear Put Spread
Loss booked on Jan 15, 2016
January 11, 2016
TCS
Short Strangle
Profit booked on Jan 18, 2016
January 18, 2016
HINDUNILVR
Short Strangle
Active
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Technical & Derivatives Report
January 22, 2016
FII Statistics for 21-January 2015
Turnover on 21-January 2015
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3067.04
2737.79
329.25
317528
16622.79
2.42
481383
24631.88
19.13
FUTURES
FUTURES
INDEX
INDEX
61781.27
61957.22
(175.95)
1611922
86224.72
2.06
5943386
321724.82
13.06
OPTIONS
OPTIONS
STOCK
6433.53
6060.45
373.08
1093732
47892.90
(0.73)
STOCK
FUTURES
728293
32694.59
12.51
FUTURES
STOCK
STOCK
4083.88
4160.07
(76.20)
101660
4531.50
1.35
OPTIONS
424136
19919.60
-2.98
OPTIONS
TOTAL
75365.72
74915.53
450.19
3124842
155271.92
1.08
TOTAL
7577198
398970.90
12.44
Nifty Spot = 7276.80
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7300
69.80
Buy
7200
45.95
38.65
61.35
7338.65
19.95
80.05
7180.05
Sell
7400
31.15
Sell
7100
26.00
Buy
7300
69.80
Buy
7200
45.95
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58.35
141.65
7358.35
30.60
169.40
7169.40
Sell
7500
11.45
Sell
7000
15.35
Buy
7400
31.15
Buy
7100
26.00
19.70
80.30
7419.70
10.65
89.35
7089.35
Sell
7500
11.45
Sell
7000
15.35
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Jan. Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 22, 2016
Daily Pivot Levels for Nifty 50 Stocks
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,200
1,214
1,226
1,240
1,251
ADANIPORTS
211
216
220
225
229
AMBUJACEM
184
188
191
195
198
ASIANPAINT
832
838
847
853
862
AXISBANK
392
400
406
415
421
BAJAJ-AUTO
2,232
2,253
2,276
2,297
2,320
BANKBARODA
119
121
124
127
129
BHARTIARTL
299
304
309
314
319
BHEL
138
141
144
147
150
BOSCHLTD
16,894
17,185
17,646
17,937
18,398
BPCL
847
861
880
894
913
CAIRN
106
108
111
113
117
CIPLA
561
571
586
596
611
COALINDIA
277
282
292
298
308
DRREDDY
2,656
2,707
2,800
2,851
2,944
GAIL
329
335
342
348
356
GRASIM
3,393
3,423
3,466
3,495
3,538
HCLTECH
820
828
839
847
858
HDFC
1,107
1,119
1,133
1,145
1,160
HDFCBANK
1,003
1,013
1,023
1,033
1,043
HEROMOTOCO
2,413
2,442
2,491
2,519
2,568
HINDALCO
66
67
68
70
71
HINDUNILVR
758
767
783
792
808
ICICIBANK
219
223
228
232
237
IDEA
109
111
116
118
123
INDUSINDBK
851
862
879
890
907
INFY
1,113
1,125
1,134
1,146
1,154
ITC
299
303
307
311
315
KOTAKBANK
637
649
663
675
689
LT
1,064
1,083
1,110
1,130
1,157
LUPIN
1,664
1,675
1,690
1,701
1,716
M&M
1,114
1,126
1,145
1,157
1,176
MARUTI
3,734
3,813
3,949
4,028
4,164
NTPC
131
132
134
135
137
ONGC
201
204
209
213
218
PNB
86
87
89
90
92
POWERGRID
129
130
134
136
139
RELIANCE
947
965
996
1,014
1,045
SBIN
169
172
175
179
182
VEDL
59
61
64
65
68
SUNPHARMA
741
757
780
796
820
TATAMOTORS
311
320
332
341
353
TATAPOWER
59
60
61
63
64
TATASTEEL
227
231
235
240
244
TCS
2,219
2,237
2,263
2,281
2,308
TECHM
500
504
510
514
520
ULTRACEMCO
2,618
2,657
2,685
2,724
2,752
WIPRO
536
543
549
557
563
YESBANK
633
644
658
669
684
ZEEL
376
381
389
394
402
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Technical & Derivatives Report
January 22, 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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