Technical & Derivatives Report
January 25, 2016
Sensex (24436) / Nifty (7422)
Exhibit 1: Nifty Daily Chart
The Nifty traded with a negative bias for a major part of the
week and tested the psychological level of 7300. With the
breach of this level, although by a small margin, we saw a lot
of pessimism across the broader market. We however held to
our view that 7300 would continue to act as a strong support
level for the Nifty and what followed was a good 2% rally on
Friday, leading the Nifty to regain the 7400 mark on a closing
basis. All this price development has resulted in the formation
of a ‘Dragonfly Doji’ candlestick pattern on the weekly chart.
An occurrence of this bullish pattern at the lower end of the
‘Falling Wedge’ pattern suggests towards at least a temporary
pause in the ongoing downtrend. Theoretically, a sustainable
move beyond previous week’s high of 7471 may lead to a
further bounce towards 7550 - 7600 levels on the Nifty. On
the flipside, 7327 - 7241 are now being seen as strong
support levels.
Key Levels
Support 1 - 7327
Resistance 1 - 7471
Support 2 - 7241
Resistance 2 - 7550
Exhibit 2: Bank Nifty Weekly Chart
Bank Nifty Outlook - (15498)
The Nifty Bank index opened with the upside gap of around
230 points on Friday and started moving higher from the
initial trades. The banking index remained in positive territory
and continued to make higher highs throughout the session.
Eventually, Nifty Bank index ended the session with gains of
2.62 percent over its previous close. While, on weekly basis,
the Nifty Bank index closed with the gains of 1.92 percent. The
index has rebounded from the support zone of 14700 -
15000 levels in the weekly chart, which is a positive sign for
the banking index. Going forward, the upside momentum may
continue till its next resistance of 15765 and 16150 levels. On
the flipside, immediate support for the index is placed at
15270 and 14900 levels.
Key Levels
Support 1 - 15270
Resistance 1 - 15765
Support 2 - 14900
Resistance 2 - 16150
www.angelbroking.com
1
Technical & Derivatives Report
January 25, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.12%
BankNifty futures open interest has decreased by 8.29%
as market closed at 7422.45 levels.
The Nifty January future closed at a premium of 8.25
points against a premium of 14.05 points. The February
series closed at a premium of 20.65 points.
The Implied Volatility of at the money options has
decreased from 19.48% to 16.24 %.
The total OI of the market is Rs. 2,56,957/- cr. and the
stock futures OI is Rs. 61,531/- cr.
Few of the liquid counters where we have seen high cost
of carry are UNITECH, JPASSOCIAT, CROMPGREAV,
COALINDIA and POWERGRID.
Views
OI Gainers
In equity segment, FIIs continue to sell to the tune of Rs.
OI
PRICE
770 crores. In Index Futures, they bought worth Rs. 556
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
crores with fall in OI, indicating short covering in last
GODREJCP
227200
24.29
1135.70
0.23
trading session.
ARVIND
4720900
10.55
314.15
0.62
In Index Options front, they bought of Rs. 1025 crores
ORIENTBANK
13122000
8.72
110.30
4.50
with decent rise in open interest. In call options, 7450 &
HINDUNILVR
4367400
8.25
774.45
-0.48
7550 strikes were active and they added some OI too.
www.angelbroking.com
IBREALEST
37341000
8.22
53.70
4.47
Decent unwinding was also witness in 7300 & 7500 call
options, which may be due to profit booking. While in
OI Losers
put options, 7300 & 7350 strike added good amount of
OI
PRICE
build-up. Maximum build-up in current series is now
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
visible in 7500 call and 7300 put options. We believe,
TORNTPHARM
330000
-10.81
1391.65
3.84
we may not see any major fall or bounce in Nifty from
EXIDEIND
10138800
-10.80
125.20
4.25
current levels in January series. Nifty may test the
SBIN
92504000
-10.75
184.75
4.88
resistance zone of 7500-7550 levels; one should book
UNIONBANK
18018000
-8.60
120.05
6.95
profits near these levels.
M&MFIN
16306000
-8.29
198.85
-2.72
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HEROMOTOCO
31.07
NIFTY
0.86
0.81
GAIL
53.74
BANKNIFTY
0.89
0.76
M&M
37.44
SBIN
0.34
0.31
BATAINDIA
45.65
RELIANCE
0.39
0.43
KOTAKBANK
25.58
INFY
0.85
0.64
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
www.angelbroking.com
2
Technical & Derivatives Report
January 25, 2016
FII Statistics for 22-January 2015
Turnover on 22-January 2015
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4003.68
3447.07
556.61
304017
16385.86
(4.26)
415710
21621.13
-12.22
FUTURES
FUTURES
INDEX
INDEX
43310.79
42285.17
1025.62
1645226
89777.70
2.07
5242729
284792.01
-11.48
OPTIONS
OPTIONS
STOCK
9589.31
8729.97
859.34
1086967
48770.78
(0.62)
STOCK
FUTURES
855720
38691.97
18.34
FUTURES
STOCK
STOCK
3430.21
3523.08
(92.87)
102841
4719.93
1.16
OPTIONS
419641
19922.42
0.01
OPTIONS
TOTAL
60333.99
57985.29
2348.70
3139051
159654.27
0.45
TOTAL
6933800
365027.54
-8.51
Nifty Spot = 7422.45
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7500
26.10
Buy
7400
46.00
19.35
80.65
7519.35
24.70
75.30
7375.30
Sell
7600
6.75
Sell
7300
21.30
Buy
7500
26.10
Buy
7400
46.00
www.angelbroking.com
24.00
176.00
7524.00
35.50
164.50
7364.50
Sell
7700
2.10
Sell
7200
10.50
Buy
7600
6.75
Buy
7300
21.30
4.65
95.35
7604.65
10.80
89.20
7289.20
Sell
7700
2.10
Sell
7200
10.50
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
www.angelbroking.com
3
Technical & Derivatives Report
January 25, 2016
Daily Pivot Levels for Nifty 50 Stocks
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,216
1,228
1,243
1,255
1,269
ADANIPORTS
213
217
221
226
230
AMBUJACEM
189
191
194
196
199
ASIANPAINT
840
855
864
879
888
AXISBANK
409
417
422
430
435
BAJAJ-AUTO
2,252
2,286
2,307
2,341
2,363
BANKBARODA
124
127
129
132
135
BHARTIARTL
281
290
300
309
320
BHEL
142
145
146
149
151
BOSCHLTD
16,904
17,104
17,431
17,630
17,957
BPCL
864
874
881
890
898
CAIRN
109
111
113
115
117
CIPLA
572
577
583
588
594
COALINDIA
284
292
297
305
310
DRREDDY
2,725
2,804
2,858
2,936
2,991
GAIL
330
349
361
379
391
GRASIM
3,395
3,421
3,461
3,487
3,527
HCLTECH
822
830
841
850
860
HDFC
1,124
1,141
1,152
1,169
1,180
HDFCBANK
1,010
1,020
1,032
1,042
1,054
HEROMOTOCO
2,428
2,510
2,554
2,636
2,681
HINDALCO
68
70
71
74
75
HINDUNILVR
762
767
775
780
789
ICICIBANK
227
230
232
235
238
IDEA
99
103
109
113
120
INDUSINDBK
870
884
895
909
919
INFY
1,118
1,127
1,140
1,149
1,161
ITC
298
303
308
313
318
KOTAKBANK
654
669
679
693
704
LT
1,098
1,120
1,133
1,155
1,167
LUPIN
1,677
1,699
1,714
1,736
1,750
M&M
1,117
1,158
1,182
1,222
1,246
MARUTI
3,862
3,983
4,052
4,173
4,241
NTPC
132
135
137
140
142
ONGC
207
212
214
219
222
PNB
88
90
92
94
95
POWERGRID
130
132
134
135
137
RELIANCE
986
995
1,003
1,012
1,020
SBIN
176
180
183
187
190
VEDL
61
63
65
67
68
SUNPHARMA
765
777
786
798
806
TATAMOTORS
325
332
339
346
353
TATAPOWER
61
61
62
62
63
TATASTEEL
232
240
245
253
259
TCS
2,244
2,270
2,286
2,312
2,328
TECHM
499
506
512
519
525
ULTRACEMCO
2,651
2,682
2,711
2,742
2,771
WIPRO
542
546
551
555
560
YESBANK
651
667
678
695
706
ZEEL
383
389
395
401
407
www.angelbroking.com
4
Technical & Derivatives Report
January 25, 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