Technical & Derivatives Report
February 24, 2016
Sensex (23410) / Nifty (7110)
Exhibit 1: Nifty Daily Chart
Despite a strong overnight rally from the US bourses, our
markets opened on a flat note and then corrected steadily
throughout the day to end the session with more than one and
half a percent loss.
Yesterday’s correction up to
7160 was very much
understandable; but, a continuation of down move in the latter
half of the day has surprised us to an extent. However, we still
believe that the Nifty is likely to retest 7200 - 7250 levels as
yesterday’s correction precisely tested the 50% retracement
level of the small up move from 7059.75 to 7252.40. Thus,
considering the higher top higher bottom formation on hourly
chart, we can interpret yesterday’s fall as a corrective move.
On the downside, 7090 - 7070 are seen as immediate
support levels. Traders are advised to maintain their stock
centric approach by following strict stop losses.
Key Levels
Support 1 - 7090
Resistance 1 - 7200
Support 2 - 7070
Resistance 2 -
7250
Exhibit 2: Bank Nifty Daily Chart
Bank Nifty Outlook - (14008)
Post three sessions of range bound activity, the Nifty Bank
index showed corrective move yesterday and ended the
session with losses of about 2.62%.
Since last few sessions, we have been mentioning of possibility
of index bouncing up to 14360 and 14570. The index rallied
up to our given first target/resistance level, however, failed to
continue the momentum towards the given second resistance.
If we observe last 9 trading sessions, the index has traded in a
narrow range of 13810 - 14602 and has not shown any
directional movement. The reason for the range bound activity
seems primarily due to sideways move in the individual
heavyweights within the sector. In near term, we have key
events such as F&O expiry and Union Budget lined up. Firstly,
from next couple of days perspective i.e. till F&O expiry, the
index could continue to trade in the above mentioned range.
The intraday support for the index is placed around 13890
and 13810 whereas resistances are seen around 14250 and
14440.
Key Levels
Support 1 - 13890
Resistance 1 - 14250
Support 2 - 13810
Resistance 2 - 14440
www.angelbroking.com
1
Technical & Derivatives Report
February 24, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.24%
BankNifty futures open interest has increased by 17.59%
as market closed at 7109.55 levels.
The Nifty February future closed at a premium of 3.55
points against a premium of 6.15 points. The March
series closed at a premium of 23.15 points.
The Implied Volatility of at the money options has
increased from 16.74% to 19.00%.
The total OI of the market is Rs. 2,52,512/- cr. and the
stock futures OI is Rs. 60,215/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, RCOM, ADANIPOWER, DISHTV
and ALBK.
Views
OI Gainers
OI
PRICE
FIIs were net sellers in cash market segment; they sold to
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
the tune of Rs. 289 crores. While in Index Futures, they
NTPC
24304000
42.13
123.60
-2.56
bought of worth Rs. 216 crores with rise in open interest,
IDEA
55320000
18.30
106.60
-2.51
indicating fresh long formation in last trading session.
ADANIPOWER
87640000
17.26
27.15
-3.38
In Index Options front, the sold significantly of Rs. 1727
PIDILITIND
1052000
13.98
613.60
-3.78
crores with marginal change in OI. In call options, 7100-
www.angelbroking.com
JPASSOCIAT
220032000
12.68
7.00
0.00
7250 strikes added good amount of build-up. Whereas,
in put options, 7050 strike added good amount of OI,
OI Losers
followed by considerable unwinding in
7200-7250
OI
PRICE
strikes. Maximum OI in current series is visible in 7200
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
call and
7000 put options. Rollover in Nifty and
ACC
1864875
-18.21
1243.60
-3.12
BankNifty is on the higher side at 42.99% and 35.27%
IBREALEST
32382000
-15.14
47.85
-4.40
respectively. Large cap counters that added good
CROMPGREAV
25269000
-14.09
137.45
-0.65
amount of OI are NTPC, IDEA, BAJAJ-AUTO, ZEEL and
MOTHERSUMI
16182000
-12.71
212.40
-3.83
SBIN.
AMBUJACEM
6478500
-12.21
193.45
-1.55
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
0.73
0.82
DABUR
38.26
BANKNIFTY
0.66
0.89
ULTRACEMCO
34.25
SBIN
0.48
0.41
GRASIM
23.81
ICICIBANK
0.34
0.47
BAJAJ-AUTO
32.74
MARUTI
0.40
0.43
PIDILITIND
39.51
Strategy Date
Symbol
Strategy
Status
February 01, 2016
BHEL
Bull Call Spread
Active
February 08, 2016
NIFTY
Short Strangle
Marginal loss booked on 22-02-2016
February 15, 2016
AXISBANK
Bull Call Spread
Active
February 22, 2016
HINDUNILVR
Long Call
Not Activated
www.angelbroking.com
2
Technical & Derivatives Report
February 24, 2016
FII Statistics for 23-February 2016
Turnover on 23-February 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
7302.13
7086.13
216.00
350049
17778.94
1.81
556037
27810.11
82.59
FUTURES
FUTURES
INDEX
INDEX
45467.85
47195.37
(1727.52)
1457795
76125.97
(0.70)
6831730
357156.88
69.85
OPTIONS
OPTIONS
STOCK
19972.03
19104.73
867.30
1216026
51378.96
0.68
STOCK
FUTURES
1338571
56977.44
27.25
FUTURES
STOCK
STOCK
2381.33
2496.79
(115.46)
92371
3799.93
0.42
OPTIONS
363288
15845.79
24.26
OPTIONS
TOTAL
75123.34
75883.02
(759.68)
3116241
149083.81
0.15
TOTAL
9089626
457790.22
61.74
Nifty Spot = 7109.55
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7100
42.80
Buy
7100
33.40
33.30
66.70
7133.30
23.45
76.55
7076.55
Sell
7200
9.50
Sell
7000
9.95
Buy
7100
42.80
Buy
7100
33.40
www.angelbroking.com
40.55
159.45
7140.55
29.70
170.30
7070.30
Sell
7300
2.25
Sell
6900
3.70
Buy
7200
9.50
Buy
7000
9.95
7.25
92.75
7207.25
6.25
93.75
6993.75
Sell
7300
2.25
Sell
6900
3.70
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Feb. Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
3
Technical & Derivatives Report
February 24, 2016
Daily Pivot Levels for Nifty 50 Stocks
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,214
1,229
1,256
1,270
1,297
ADANIPORTS
200
202
205
208
211
AMBUJACEM
191
192
194
196
198
ASIANPAINT
861
869
874
883
888
AXISBANK
374
380
389
394
403
BAJAJ-AUTO
2,328
2,362
2,421
2,455
2,514
BANKBARODA
128
130
135
137
142
BHARTIARTL
309
315
324
330
339
BHEL
95
97
100
101
104
BOSCHLTD
16,316
16,582
17,016
17,282
17,716
BPCL
712
724
743
755
774
CAIRN
120
123
128
131
136
CIPLA
509
516
524
531
540
COALINDIA
291
296
305
310
319
DRREDDY
3,016
3,048
3,099
3,131
3,182
GAIL
310
313
319
323
329
GRASIM
3,313
3,360
3,428
3,475
3,543
HCLTECH
813
821
835
843
857
HDFC
1,029
1,040
1,051
1,062
1,073
HDFCBANK
954
962
974
982
993
HEROMOTOCO
2,615
2,638
2,675
2,698
2,736
HINDALCO
65
67
69
71
73
HINDUNILVR
819
828
843
852
867
ICICIBANK
185
188
194
198
203
IDEA
101
104
107
110
113
INDUSINDBK
824
832
839
847
853
INFY
1,108
1,116
1,124
1,132
1,141
ITC
290
292
295
297
300
KOTAKBANK
608
616
627
635
646
LT
1,106
1,118
1,137
1,149
1,168
LUPIN
1,731
1,755
1,787
1,811
1,844
M&M
1,180
1,195
1,218
1,232
1,255
MARUTI
3,424
3,455
3,512
3,544
3,600
NTPC
122
123
124
125
126
ONGC
209
212
215
218
221
PNB
71
72
73
74
76
POWERGRID
134
136
138
139
142
RELIANCE
929
939
953
964
978
SBIN
154
156
161
163
168
VEDL
70
72
74
75
77
SUNPHARMA
846
859
879
891
911
TATAMOTORS
309
314
319
324
330
TATAPOWER
57
58
58
59
60
TATASTEEL
246
250
256
259
265
TCS
2,217
2,241
2,280
2,304
2,343
TECHM
420
424
428
433
437
ULTRACEMCO
2,726
2,771
2,854
2,899
2,982
WIPRO
532
536
540
544
548
YESBANK
659
673
695
709
731
ZEEL
375
381
388
394
400
www.angelbroking.com
4
Technical & Derivatives Report
February 24, 2016
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and MCX Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a
registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number
INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing
/dealing in securities Market. Angel or its associates including its relatives/analyst do not hold any financial interest/beneficial
ownership of more than 1% in the company covered by Analyst. Angel or its associates/analyst has not received any compensation /
managed or co-managed public offering of securities of the company covered by Analyst during the past twelve months. Angel/analyst
has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market making activity
of the company covered by Analyst.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
Note: Please refer to the important ‘Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
www.angelbroking.com
5