Technical & Derivatives Report
July 22, 2016
Sensex (27711) / Nifty (8510)
Exhibit 1: Nifty Hourly Chart
A strong up move on Wednesday was followed by a gap up
opening as indicated by the SGX Nifty. However, this early
morning lead was very short lived as the Nifty pared down all
gains within first 10 minutes of the trade. Subsequently, the index
consolidated within a narrow range for some time. However, a
strong bout of selling in the latter half dragged the Nifty lower to
close tad above the 8500 mark.
Yesterday, the Nifty managed to post a high of 8585.25 in the
opening trades; however, as mentioned in the previous report, a
failure to sustain above the 8580 mark resulted into a loss of
momentum. Very much on expected line, the Nifty corrected in
the second half towards the mentioned support level of 8512.
Despite this corrective move, we do not see any major downside
from current level as the intraday support at 8470 - 8443 is
clearly visible. On the upside, 8540 - 8585 would be seen as
immediate resistance levels. We reiterate that the index has
slipped into a consolidation mode after giving a stupendous rally
in the recent weeks and thus, it would be very difficult for traders
to find clear trade in the index. It’s advisable to use dips to initiate
directional long positions and meanwhile, trade with a stock
centric approach.
Key Levels
Support 1 - 8470
Resistance 1 - 8540
Support 2 - 8443
Resistance 2 - 8585
Nifty Bank Outlook - (18674)
Exhibit 2: Nifty Bank Daily Chart
Post sideways consolidation in four trading sessions, the Nifty
Bank index corrected in yesterday's session and ended the day
with losses of 1.55 percent over its previous session's close.
Some of the individual heavyweights in the banking sector
corrected in yesterday's session, leading to corrective move in the
index post four range bound sessions. However, the broader
trend for the index continues to remain up and unless any
reversal signs seen, this down move should be interpreted as a
correction within an uptrend. The Nifty Bank index resisted tad
below the resistance level of
19229 which we have been
mentioning in our previous reports. This indicates that the index
could consolidate in a range before resuming the trended move.
Short term traders should focus on stock specific moves and avoid
trading against the broader trend. The intraday support for the
Nifty Bank index are placed around 18595 and 18450 whereas
resistances are seen around 18817 and 18995.
Key Levels
Support 1 - 18595
Resistance 1 - 18817
Support 2 - 18450
Resistance 2 - 18995
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Technical & Derivatives Report
July 22, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.69%
BankNifty futures open interest has decreased by 6.32%
as market closed at 8510.10 levels.
The Nifty July future closed with a premium of 9.65
points against a premium of 18.30 points in previous
session. The August series closed at a premium of 49.35
points.
The Implied Volatility of at the money options has
increased from 13.80% to 13.99%.
The total OI of the market is Rs. 2,86,964/- cr. and the
stock futures OI is Rs. 72,776/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, ENGINERSIN, MINDTREE, KPIT
and GRANULES.
Views
OI Gainers
Yesterday, FIIs were net buyer in both cash market and
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Index Futures segment. They bought equities to the tune
ENGINERSIN
5250000
73.41
223.45
7.22
of Rs. 420 crores. While, they were net buyers of Rs. 332
crores in Index Futures with rise in open interest,
TORNTPHARM
368800
45.43
1460.00
1.71
indicating fresh long build-up in last trading session.
HAVELLS
7070000
29.87
366.10
-0.46
In Index Options segment, FIIs were net buyers of worth
JPASSOCIAT
165784000
24.71
12.55
3.72
Rs. 822 crores with rise in open interest. In call options,ng.com
ACC
1297600
14.71
1710.40
4.36
decent amount of OI addition was seen in 8600-8650
strikes; we believe these are blend of both long and short
OI Losers
positions. On the other hand, in put options, we had
OI
PRICE
witness any strike adding meaningful open interest, good
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
amount of unwinding was visible is 8400-8600 puts.
BEML
1363500
-10.71
957.50
-0.52
Highest OI in current series is placed at 8600 call and
WOCKPHARMA
2917800
-9.22
989.50
-5.00
8400 put options. Seeing the options data, we believe
PNB
50813000
-8.89
124.10
-4.32
Nifty may trade in a range of 8400-8600 for last few
IGL
2049300
-7.86
614.50
-0.42
trading sessions of July series. Short straddle in Nifty can
be a good strategy to trade for current series.
INDUSINDBK
5078400
-7.78
1136.90
1.28
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ACC
27.92
NIFTY
1.03
1.05
ENGINERSIN
43.67
BANKNIFTY
0.53
0.77
KSCL
34.31
INFY
0.49
0.39
AXISBANK
31.58
RELIANCE
0.43
0.46
KOTAKBANK
24.09
SBIN
0.76
0.75
Strategy Date
Symbol
Strategy
Status
04-07-2016
RCOM
Ratio Bull Call Spread
Active
11-07-2016
BANKNIFTY
Bull Call Spread
Didn’t trigger
18-07-2016
TCS
Long Put
Active
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Technical & Derivatives Report
July 22, 2016
FII Statistics for 21-July 2016
Turnover on 21-July 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
1677.98
1346.02
331.96
338154
22002.38
2.33
227361
15620.27
46.29
FUTURES
FUTURES
INDEX
INDEX
41281.82
40460.30
821.52
1067797
68880.28
2.35
5488980
390526.29
92.90
OPTIONS
OPTIONS
STOCK
5905.70
5952.18
(46.49)
857817
54496.95
0.24
STOCK
FUTURES
630542
41669.33
22.03
FUTURES
STOCK
STOCK
5532.38
5655.49
(123.12)
113628
7335.38
4.52
OPTIONS
464368
31084.83
28.28
OPTIONS
TOTAL
54397.87
53414.00
983.87
2377396
152714.98
1.68
TOTAL
6811251
478900.72
76.38
Nifty Spot = 8510.10
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8500
76.40
Buy
8500
57.55
44.85
55.15
8544.85
31.25
68.75
8468.75
Sell
8600
31.55
Sell
8400
26.30
Buy
8500
76.40
Buy
8500
57.55
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66.30
133.70
8566.30
46.85
153.15
8453.15
Sell
8700
10.10
Sell
8300
10.70
Buy
8600
31.55
Buy
8400
26.30
21.45
78.55
8621.45
15.60
84.40
8384.40
Sell
8700
10.10
Sell
8300
10.70
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
July 22, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,615
1,661
1,690
1,736
1,765
ADANIPORTS
217
220
223
226
230
AMBUJACEM
261
263
265
268
270
ASIANPAINT
1,018
1,030
1,039
1,052
1,061
AUROPHARMA
771
781
797
807
823
AXISBANK
521
530
544
552
566
BAJAJ-AUTO
2,738
2,754
2,778
2,794
2,818
BANKBARODA
147
150
154
157
161
BHEL
135
138
141
144
147
BPCL
563
570
580
587
597
BHARTIARTL
359
364
367
371
374
INFRATEL
350
351
353
355
357
BOSCH
24,063
24,296
24,691
24,924
25,320
CIPLA
506
511
519
524
532
COALINDIA
323
328
332
337
341
DRREDDY
3,557
3,587
3,625
3,656
3,694
EICHERMOT
19,552
19,654
19,801
19,903
20,050
GAIL
381
386
394
398
406
GRASIM
4,773
4,837
4,886
4,950
4,999
HCLTECH
714
719
725
730
736
HDFCBANK
1,213
1,221
1,230
1,238
1,248
HDFC
1,319
1,326
1,335
1,343
1,352
HEROMOTOCO
3,231
3,249
3,278
3,296
3,325
HINDALCO
131
132
135
136
139
HINDUNILVR
895
902
908
916
921
ICICIBANK
256
259
264
267
272
IDEA
104
105
106
106
107
INDUSINDBK
1,098
1,117
1,131
1,150
1,163
INFY
1,069
1,075
1,081
1,086
1,093
ITC
243
247
250
254
257
KOTAKBANK
741
751
769
779
798
LT
1,539
1,548
1,562
1,571
1,585
LUPIN
1,647
1,667
1,702
1,722
1,757
M&M
1,413
1,424
1,440
1,451
1,467
MARUTI
4,350
4,382
4,437
4,469
4,525
NTPC
152
153
156
157
160
ONGC
219
221
224
226
229
POWERGRID
158
160
164
167
171
RELIANCE
992
999
1,012
1,019
1,032
SBIN
220
223
227
230
235
SUNPHARMA
782
788
797
803
812
TCS
2,442
2,474
2,497
2,529
2,552
TATAMTRDVR
312
315
321
324
330
TATAMOTORS
483
487
494
497
504
TATAPOWER
69
70
71
72
74
TATASTEEL
356
359
364
368
373
TECHM
500
503
506
508
511
ULTRACEMCO
3,515
3,577
3,621
3,683
3,727
WIPRO
536
539
542
545
548
YESBANK
1,139
1,147
1,158
1,166
1,178
ZEEL
444
449
456
461
468
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Technical & Derivatives Report
July 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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