Technical & Derivatives Report
April 22, 2016
Sensex (25880) / Nifty (7912)
Exhibit 1: Nifty Daily Chart
Yesterday too, we saw Nifty opening with a decent upside gap,
courtesy to a grand opening from the entire ‘Banking’ basket.
However, we witnessed an index-balancing act right from the
opening trade as some of the other sectoral indices remained
under pressure. As a result, the Nifty managed to precisely test
December month high; but couldn't surpass it. In fact, a modest
profit booking in the banking conglomerates in the latter half
pulled the index once again closer to its previous two days close.
We have been repeatedly advocating on booking profits in the
zone of 7930 - 7972, which seems to be proving right as of now.
We maintain our view that failure to surpass the 8000 mark on a
closing basis would lead to some profit booking towards 7842 -
7775 levels in the near term. Meanwhile, traders are advised to
stay light on positions and keep focusing on individual stocks.
Key Levels
Support 1 - 7842
Resistance 1 - 7930
Support 2 - 7775
Resistance 2 - 7972
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (16637)
Yesterday, the Nifty Bank index started the session with a gap up
opening and traded in positive territory throughout the session to
end the day with gains of 1.76% over its previous day's close.
Yesterday, the Nifty Bank index and the individual stocks within
the sector outperformed the broader markets right from the initial
trades. Though, we were expecting stock specific positive
momentum in the sector, the sharp rally in banking counter
during opening hour was a quite surprising for us as well.
Yesterday's high in the index coincides with ‘200 day SMA’ which
is a near term resistance. Hence, creating fresh long positions in
the index at current levels could be fraught with higher risk. Thus,
we continue to advise traders to keep booking profits on long
positions and wait for further developments. Meanwhile, stock
specific action is expected to continue and traders should focus on
trading in stocks within this sector with proper risk management
strategy. The intraday support for the index is placed around
16520 and 16390 whereas resistances are seen around 16770
and 16940.
Key Levels
Support 1 - 16520
Resistance 1 - 16770
Support 2 - 16390
Resistance 2 - 16940
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Technical & Derivatives Report
April 22, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.30%
BankNifty futures open interest has increased by 7.23%
as market closed at 7912.05 levels.
The Nifty April future closed at a premium of 1.30 points
against a premium of 15.10 points. The May series
closed at a premium of 39.70 points.
The Implied Volatility of at the money options has
decreased from 15.13% to 14.03%.
The total OI of the market is Rs. 2,32,873/- cr. and the
stock futures OI is Rs. 59,099/- cr.
Few of the liquid counters where we have seen high cost
of carry are UNITECH, JPASSOCIAT, TV18BRDCST,
SYNDIBANK and UNIONBANK.
Views
FIIs were net buyers in cash market segment to the tune
OI Gainers
of Rs. 805 crores. While in Index Futures, they were
OI
PRICE
SCRIP
OI
PRICE
marginal sellers with rise in OI, suggesting blend of
CHG. (%)
CHG. (%)
some long and short formation in last trading session.
ARVIND
5287000
18.07
274.40
2.12
WIPRO
9815000
11.84
559.25
-7.39
In Index Options front, FIIs were net buyers of Rs. 137
crores with rise in OI. 8000 call and 7800 put options
RECLTD
20194000
11.67
167.75
4.88
we active yesterday and they also added fresh OI.
KOTAKBANK
7816200
11.28
686.10
-0.11
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Maximum OI in current series is visible
in 8000 call and
POWERGRID
16616000
10.92
146.10
-1.28
of put options has shifted from 7500 to 7800 strike. After
continuous profit booking, we witnessed formation of
OI Losers
fresh long positions in Index Futures. We expect Nifty to
OI
PRICE
SCRIP
OI
PRICE
test 8000 levels in current series, trade accordingly.
CHG. (%)
CHG. (%)
BAJFINANCE
212000
-11.44
7004.75
-2.84
Large cap counters wherein we have seen highest OI
HDIL
21264000
-9.24
83.05
0.24
addition are WIPRO, KOTAKBANK, POWERGRID,
ICICIBANK and INDUSINDBK.
PAGEIND
59950
-7.77
12988.90
-4.18
TATAPOWER
25488000
-7.71
69.70
-1.55
JINDALSTEL
44485000
-7.58
73.40
-1.81
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
WIPRO
44.17
NIFTY
1.06
1.08
DIVISLAB
32.22
BANKNIFTY
1.14
0.95
RECLTD
38.95
SBIN
0.43
0.34
FEDERALBNK
44.29
INFY
0.56
0.56
ICICIBANK
56.68
TCS
0.57
0.58
Strategy Date
Symbol
Strategy
Status
April 04, 2016
TCS
Ratio Bear Put Spread
Active
April 11, 2016
ITC
Short Strangle
Active
April 18, 2016
NIFTY
Long Call
Active
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Technical & Derivatives Report
April 22, 2016
FII Statistics for 21-April 2016
Turnover on 21-April 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
2103.81
2178.19
(74.38)
261165
15157.47
2.80
326117
18053.26
2.79
FUTURES
FUTURES
INDEX
INDEX
36000.39
35863.24
137.14
1169761
68659.97
0.48
4369648
252835.98
5.66
OPTIONS
OPTIONS
STOCK
6254.08
5258.73
995.35
1009643
48811.51
0.33
STOCK
FUTURES
705957
34869.54
5.11
FUTURES
STOCK
STOCK
4114.73
4161.37
(46.64)
94594
4643.25
8.54
OPTIONS
454749
22987.36
5.76
OPTIONS
TOTAL
48473.01
47461.53
1011.48
2535163
137272.20
0.94
TOTAL
5856471
328746.15
5.45
Nifty Spot = 7912.05
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7900
68.90
Buy
7900
55.80
42.20
57.80
7942.20
31.80
68.20
7868.20
Sell
8000
26.70
Sell
7800
24.00
Buy
7900
68.90
Buy
7900
55.80
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62.15
137.85
7962.15
45.70
154.30
7854.30
Sell
8100
6.75
Sell
7700
10.10
Buy
8000
26.70
Buy
7800
24.00
19.95
80.05
8019.95
13.90
86.10
7786.10
Sell
8100
6.75
Sell
7700
10.10
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 22, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,393
1,413
1,448
1,468
1,502
ADANIPORTS
224
227
231
234
239
AMBUJACEM
215
218
223
226
232
ASIANPAINT
880
885
890
894
900
AUROPHARMA
750
758
768
777
787
AXISBANK
458
463
468
473
478
BAJAJ-AUTO
2,447
2,472
2,510
2,535
2,573
BANKBARODA
151
154
158
162
166
BHEL
124
126
131
133
138
BPCL
939
955
970
986
1,001
BHARTIARTL
348
353
356
361
364
INFRATEL
356
364
377
385
398
BOSCH
19,298
19,546
19,867
20,115
20,436
CIPLA
523
528
531
535
538
COALINDIA
276
282
285
291
294
DRREDDY
3,095
3,113
3,127
3,144
3,158
EICHERMOT
19,910
20,119
20,410
20,619
20,909
GAIL
361
365
370
374
379
GRASIM
3,903
3,953
4,038
4,087
4,172
HCLTECH
830
838
847
855
864
HDFCBANK
1,079
1,085
1,095
1,101
1,111
HDFC
1,132
1,141
1,149
1,158
1,167
HEROMOTOCO
2,914
2,950
3,015
3,051
3,115
HINDALCO
99
100
102
104
106
HINDUNILVR
891
898
902
909
913
ICICIBANK
241
247
252
258
264
IDEA
114
116
117
119
120
INDUSINDBK
948
960
977
989
1,006
INFY
1,199
1,213
1,232
1,246
1,265
ITC
322
326
331
335
340
KOTAKBANK
680
683
686
690
693
LT
1,229
1,240
1,258
1,269
1,287
LUPIN
1,536
1,549
1,565
1,577
1,593
M&M
1,280
1,294
1,316
1,331
1,353
MARUTI
3,642
3,674
3,706
3,737
3,769
NTPC
140
140
141
142
143
ONGC
210
212
213
214
216
POWERGRID
142
144
147
149
151
RELIANCE
1,026
1,033
1,043
1,050
1,060
SBIN
187
190
194
198
201
SUNPHARMA
821
827
833
838
844
TCS
2,379
2,402
2,435
2,457
2,490
TATAMTRDVR
291
296
302
307
313
TATAMOTORS
400
406
412
417
423
TATAPOWER
67
69
70
71
73
TATASTEEL
346
350
357
361
368
TECHM
467
471
479
484
491
ULTRACEMCO
3,139
3,202
3,306
3,369
3,473
WIPRO
545
552
564
571
583
YESBANK
864
873
885
894
907
ZEEL
391
395
400
404
408
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Technical & Derivatives Report
April 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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