Technical & Derivatives Report
November 22, 2016
Sensex (25765) / Nifty (7929)
Exhibit 1: Nifty Daily Chart
The opening session of the week was literally a nightmare for
momentum traders holding long positions as the index opened
tad higher and then corrected quite sharply throughout the
session to post lowest closing since May 24, 2016. In the process,
the Nifty ended the brutal day with a cut of 1.80% over its
previous close.
Honestly speaking, we were surprised with this move as we were
expecting a bounce and hence, our immediate trade set up for
going long has been negated. Despite this, we still do not want to
get carried away by this momentum and hence, would not advise
to go short at this juncture. Technically speaking, the Nifty has
precisely tested ‘BREXIT’ day low of 7927.05 and is also hovering
around the 50% retracement of the entire rally from 6825.80 to
8968.70. In addition, the observation of ‘RSI-Smoothened’ level
on daily chart is now at 9.19 (lowest since September 2015).
Although, our trade set up did not work well, we still expect a
sharp bounce towards 8120 - 8280 in the near term. The support
is now seen at 7900 - 7880. 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 - 7900
Resistance 1 - 8000
Support 2 - 7880
Resistance 2 - 8070
Nifty Bank Outlook - (18446)
Exhibit 2: Nifty Bank Daily Chart
In yesterday's session, the Nifty Bank index continued with its
bearish momentum and breached the support zone of 18900
within few minutes post opening. This led to acceleration of the
selling momentum and the index corrected throughout the session
to end the day with a loss of 2.70 percent.
In our last couple of reports, we have been mentioning about the
probability of the index giving a pullback move from the support
level of 18900. However, to our surpise, the index effortlesly
sneaked below the support and corrected sharply, thus negating
our optimistic view on the index. The Nifty Bank index has now
closed well below the '89EMA' support after a period of seven
months. On the flipside, the index has already corrected more
than 9% from the recent high which has resulted in extreme
oversold momentum readings in lower time frame charts. Thus,
we advise traders to stay light on positions for time being and
focus on stock specific moves. The intraday supports for the index
are placed around 18270 and 18145 whereas resistances are
seen around 18730 and 18825.
Key Levels
Support 1 - 18270
Resistance 1 - 18730
Support 2 - 18145
Resistance 2 - 18825
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1
Technical & Derivatives Report
November 22, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 9.94%
BankNifty futures open interest has increased by 6.33%
as market closed at 7929.10 levels.
The Nifty November future closed with a premium of
10.10 against the premium of 0.60 points in last trading
session. The December series closed at a premium of
48.05 points.
The Implied Volatility of at the money options has
decreased from 16.43% to 19.46%. At the same time,
the PCR-OI of Nifty has decreased from 0.74 to 0.69
levels.
The total OI of the market is Rs. 2,90,445/- cr. and the
stock futures OI is Rs. 70,568/- cr.
Few of the liquid counters where we have seen high cost
of carry are PTC, JSWENERGY, CROMPGREAV,
TATAMTRDVR and PFC.
Views
OI Gainers
FIIs continue to sell in cash market segment; they sold
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
equities worth Rs. 926 crores. While, in index futures,
APOLLOHOSP
654800
25.83
1151.35
-4.03
they were net buyers worth Rs.
1171 crores with
HCLTECH
7890400
24.44
759.65
-0.59
significant rise in open interest, indicating blend of long
AMARAJABAT
758400
20.73
901.65
-3.52
and short formation in previous trading session.ngelbroking.com
INFY
15162000
16.57
913.75
-0.66
In Index options segment, FII were net buyers worth Rs.
PAGEIND
51750
15.38
12455.85
-4.29
1198 crores with marginal change in open interest. In
TITAN
13180500
15.25
304.45
0.28
call options, we witnessed fresh build-up in 7900-8100
ANDHRABANK
21950000
8.34
52.00
-4.24
strikes; followed by some unwinding in
8300-8400
strikes. On the other hand, in put options, we hardly saw
POWERGRID
20524000
8.27
185.60
-3.31
any meaningful open interest addition. However, 7950
put option was comparatively active and it also added
OI Losers
some fresh positions. While, 8100 and 8000 put options
OI
PRICE
SCRIP
OI
PRICE
shed huge positions. Highest OI in current series is visible
CHG. (%)
CHG. (%)
SAIL
71148000
-13.56
46.50
-4.71
in 8500 call and 8000 put options.
SRF
502000
-10.60
1433.05
0.18
Despite market being under pressure yesterday, FIIs
CENTURYTEX
7361200
-6.63
681.85
-9.20
formed both long and short positions in Index Futures.
TVSMOTOR
7290000
-6.56
344.10
-2.96
Majority of positions formed were on long side but these
positions have been formed in December series. While,
TORNTPHARM
342000
-6.56
1302.90
-0.62
short positions formed in call options by FIIs in current
CUMMINSIND
606600
-6.39
764.70
-3.38
series are still intact and the quantum is huge. Thus, we
TORNTPOWER
2136000
-5.82
168.80
2.55
believe Nifty has limited upside for November Series.
PIDILITIND
1653000
-5.65
604.45
-1.69
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
KTKBANK
63.55
NIFTY
0.69
0.72
IDFCBANK
42.16
BANKNIFTY
0.65
0.74
BANKBARODA
74.41
SBIN
0.47
0.59
BHARATFORG
44.17
ICICIBANK
0.44
0.62
SBIN
54.81
RELIANCE
0.45
0.63
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2
Technical & Derivatives Report
November 22, 2016
FII Statistics for November 21, 2016
Turnover on November 21, 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
5954.46
4783.97
1170.50
263836
16403.72
22.97
442512
28672.16
67.39
FUTURES
FUTURES
INDEX
INDEX
75414.55
74216.31
1198.24
1324208
81062.41
(0.59)
6911166
449949.40
66.11
OPTIONS
OPTIONS
STOCK
19029.37
18345.02
684.36
931346
54276.60
3.77
STOCK
FUTURES
975739
60556.19
76.90
FUTURES
STOCK
STOCK
6810.07
6876.57
(66.50)
129392
7972.53
0.80
OPTIONS
435175
30567.97
27.92
OPTIONS
TOTAL
107208.46
104221.87
2986.59
2648782
159715.26
2.96
TOTAL
8764592
569745.73
64.61
Nifty Spot = 7929.10
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7900
82.30
Buy
8000
98.05
46.00
54.00
7946.00
51.65
48.35
7948.35
Sell
8000
36.30
Sell
7900
46.40
Buy
7900
82.30
Buy
8000
98.05
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68.00
132.00
7968.00
75.20
124.80
7924.80
Sell
8100
14.30
Sell
7800
22.85
Buy
8000
36.30
Buy
7900
46.40
22.00
78.00
8022.00
23.55
76.45
7876.45
Sell
8100
14.30
Sell
7800
22.85
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 22, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,233
1,253
1,285
1,304
1,336
ADANIPORTS
235
246
255
265
275
AMBUJACEM
188
191
196
199
204
ASIANPAINT
877
889
903
915
930
AUROPHARMA
699
706
716
723
734
AXISBANK
455
460
468
474
482
BAJAJ-AUTO
2,465
2,495
2,540
2,570
2,615
BANKBARODA
147
154
167
174
187
BHEL
121
125
130
134
139
BPCL
620
627
637
644
655
BHARTIARTL
293
296
301
304
309
INFRATEL
345
352
358
366
372
BOSCH
17,448
17,928
18,714
19,194
19,980
CIPLA
534
540
548
553
561
COALINDIA
292
297
303
308
315
DRREDDY
3,063
3,099
3,147
3,182
3,230
EICHERMOT
18,925
19,643
20,822
21,540
22,718
GAIL
411
416
425
430
438
GRASIM
756
772
798
814
840
HCLTECH
740
749
764
774
789
HDFCBANK
1,171
1,185
1,202
1,216
1,233
HDFC
1,192
1,207
1,229
1,243
1,265
HEROMOTOCO
2,869
2,897
2,924
2,952
2,979
HINDALCO
147
152
161
167
176
HINDUNILVR
786
792
799
805
812
ICICIBANK
249
255
261
267
273
IDEA
70
70
71
72
73
INDUSINDBK
1,009
1,034
1,071
1,096
1,133
INFY
895
903
915
923
935
ITC
220
222
225
227
230
KOTAKBANK
739
751
766
778
793
LT
1,317
1,332
1,356
1,371
1,394
LUPIN
1,364
1,381
1,408
1,425
1,452
M&M
1,156
1,178
1,212
1,233
1,267
MARUTI
4,623
4,705
4,848
4,930
5,072
NTPC
151
153
156
158
162
ONGC
270
273
276
279
281
POWERGRID
178
182
188
191
197
RELIANCE
979
985
989
996
1,000
SBIN
242
250
264
271
285
SUNPHARMA
667
679
688
700
709
TCS
2,091
2,112
2,126
2,147
2,161
TATAMTRDVR
273
279
290
296
306
TATAMOTORS
439
448
460
469
482
TATAPOWER
67
68
69
70
72
TATASTEEL
352
362
376
385
399
TECHM
436
441
447
452
458
ULTRACEMCO
3,240
3,281
3,344
3,386
3,449
WIPRO
434
438
441
445
447
YESBANK
1,051
1,082
1,137
1,167
1,222
ZEEL
415
425
439
448
463
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Technical & Derivatives Report
November 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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