Technical & Derivatives Report
April 25, 2016
Sensex (25838) / Nifty (7899)
Exhibit 1: Nifty Daily Chart
The Nifty traded in a narrow range on Friday and ended the
session with negligible loss of 0.16 percent over its previous close.
The concluded week saw the Nifty trade in a narrow range and
form a small ‘Doji’ candle on the weekly charts. A ‘Doji’ indicates
indecisiveness; the pattern this time has been formed around the
50% retracement level of the entire corrective move from 9119 to
6826. This retracement resistance also coincides with the swing
highs of December 2015 and January 2016, from where the Nifty
had corrected sharply. Also, as we had mentioned in our last
week’s outlook, the ‘200 SMA’ on the daily chart also falls around
these resistance zones. Hence, a cluster of resistances mentioned
above and the formation of a ‘Doji’ indicates that the 8000 mark
on the Nifty is a strong hurdle for the bulls and some profit
booking could lead the index to correct upto the levels of
7772 - 7717 (recent gap area on daily chart) in the near term.
Intraday support for the index is placed at 7842 and 7772 levels;
while, resistance is seen at 7923 and 7979 levels.
Key Levels
Support 1 - 7842
Resistance 1 - 7923
Support 2 - 7772
Resistance 2 - 7979
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (16703)
On Friday, the Nifty Bank index opened on a flat note and moved
higher in first half fo the session. However, due to some profit
booking seen in the concluding hour, the banking index trimmed
off some of its intraday gains and ended the session with the
gains of 0.40 percent over its previous close.
The Nifty Bank index continued its outperformance against the
Nifty on the back of strong upside momentum in the banking
conglomerates. At current juncture, the banking index is hovering
around the '200 SMA', which coincides with 161.80% retracement
level of the previous fall from 16282.75 to 15853.85 on daily
chart. Thus, traders need to adopt a bit of cautious approach and
should look to stay light on positions. In case of breaking this
resistance zone, traders should ideally trail their stop losses higher
to play for a next move towards the previous swing high at
17067.45 level. On the flipside, gap area of 16386 - 16526
would now act as a strong support for the index.
Key Levels
Support 1 - 16386
Resistance 1 - 16803
Support 2 - 16526
Resistance 2 - 17067
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Technical & Derivatives Report
April 25, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.28%
BankNifty futures open interest has increased by 1.44%
as market closed at 7899.30 levels.
The Nifty April future closed at a premium of 11.85
points against a premium of 1.30 points. The May series
closed at a premium of 52.80 points.
The Implied Volatility of at the money options has
increased from 14.03% to 14.26%.
The total OI of the market is Rs. 2,36,619/- cr. and the
stock futures OI is Rs. 60,294/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, UNITECH, GMRINFRA, IFCI
and SOUTHBANK.
Views
FIIs continue buying in both cash market and Index
OI Gainers
Futures. They bought equities to the tune of Rs. 191
OI
PRICE
SCRIP
OI
PRICE
crores. While in Index Futures, they were buyers of Rs.
CHG. (%)
CHG. (%)
541 crores with some rise in OI, suggesting mix of long
M&MFIN
14562000
19.56
276.45
4.46
formation and short covering in last trading session.
CEATLTD
1423800
17.64
1093.90
-2.30
In Index Options front, FIIs were net buyers of Rs. 1117
UCOBANK
11590000
15.32
40.95
0.74
crores with rise in OI. In call options, 8100 strike again
PCJEWELLER
1495000
13.52
360.85
-2.34
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added good amount of OI. On the other hand in put
INFRATEL
3745300
11.41
372.85
-0.04
options, we hardly saw meaningful OI addition but
decent unwinding was visible in
7600 put option.
OI Losers
Maximum OI in current series is visible in 8000 call and
OI
PRICE
SCRIP
OI
PRICE
of put options has shifted from 7500 to 7800 strike. After
CHG. (%)
CHG. (%)
continuous profit booking, we witnessed formation of
GODREJCP
279600
-10.04
1366.75
-0.31
fresh long positions in Index Futures. We expect Nifty to
AJANTPHARM
377200
-7.28
1503.45
1.65
test 8000 levels, trade accordingly.
TORNTPHARM
194400
-7.25
1458.30
-0.30
Rollover in Nifty is in line at 22.69% and of BankNifty is
KPIT
1300000
-7.14
150.15
-2.91
on the lower side at 10.68%.
ENGINERSIN
3352800
-6.90
181.50
2.57
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
IFCI
45.69
NIFTY
1.03
1.07
RCOM
47.09
BANKNIFTY
1.16
1.07
EXIDEIND
37.90
SBIN
0.56
0.41
GLENMARK
34.90
INFY
0.49
0.59
CASTROLIND
28.26
RELIANCE
0.46
0.50
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 25, 2016
FII Statistics for 22-April 2016
Turnover on 22-April 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
1985.76
1444.96
540.80
263207
15328.91
0.78
269284
14914.88
-17.38
FUTURES
FUTURES
INDEX
INDEX
31143.59
30027.03
1116.57
1199359
70288.56
2.53
3897731
225746.09
-10.71
OPTIONS
OPTIONS
STOCK
5820.92
5760.68
60.23
1005438
48787.23
(0.42)
STOCK
FUTURES
667003
33342.42
-4.38
FUTURES
STOCK
STOCK
3937.05
3948.29
(11.25)
99710
4905.81
5.41
OPTIONS
438459
22320.74
-2.90
OPTIONS
TOTAL
42887.31
41180.96
1706.35
2567714
139310.51
1.28
TOTAL
5272477
296324.13
-9.86
Nifty Spot = 7899.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7900
58.40
Buy
7900
48.90
38.30
61.70
7938.30
30.75
69.25
7869.25
Sell
8000
20.10
Sell
7800
18.15
Buy
7900
58.40
Buy
7900
48.90
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53.75
146.25
7953.75
42.75
157.25
7857.25
Sell
8100
4.65
Sell
7700
6.15
Buy
8000
20.10
Buy
7800
18.15
15.45
84.55
8015.45
12.00
88.00
7788.00
Sell
8100
4.65
Sell
7700
6.15
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 25, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,397
1,406
1,419
1,428
1,441
ADANIPORTS
224
227
230
233
236
AMBUJACEM
214
218
220
223
226
ASIANPAINT
854
863
878
887
903
AUROPHARMA
745
762
775
793
806
AXISBANK
456
466
472
482
489
BAJAJ-AUTO
2,443
2,483
2,518
2,558
2,593
BANKBARODA
152
157
160
165
169
BHEL
125
126
128
129
130
BPCL
950
958
968
976
986
BHARTIARTL
345
349
354
357
362
INFRATEL
365
369
373
376
381
BOSCH
19,558
19,673
19,863
19,978
20,168
CIPLA
522
527
532
536
541
COALINDIA
284
286
287
289
291
DRREDDY
3,098
3,120
3,140
3,162
3,182
EICHERMOT
19,941
20,056
20,215
20,330
20,489
GAIL
362
364
368
370
374
GRASIM
3,930
3,972
4,009
4,051
4,088
HCLTECH
831
838
845
853
860
HDFCBANK
1,077
1,085
1,093
1,100
1,108
HDFC
1,105
1,119
1,135
1,149
1,165
HEROMOTOCO
2,919
2,958
2,991
3,030
3,063
HINDALCO
99
100
101
102
104
HINDUNILVR
869
877
891
898
912
ICICIBANK
246
249
253
256
260
IDEA
114
116
117
119
121
INDUSINDBK
962
972
980
990
999
INFY
1,194
1,203
1,216
1,224
1,237
ITC
320
323
327
330
334
KOTAKBANK
667
671
678
682
688
LT
1,231
1,248
1,259
1,276
1,286
LUPIN
1,527
1,543
1,556
1,571
1,584
M&M
1,289
1,307
1,321
1,340
1,354
MARUTI
3,623
3,720
3,776
3,873
3,929
NTPC
139
141
143
145
147
ONGC
211
213
215
218
220
POWERGRID
143
144
146
147
149
RELIANCE
1,020
1,030
1,039
1,048
1,057
SBIN
188
194
198
204
208
SUNPHARMA
812
816
822
826
833
TCS
2,388
2,402
2,419
2,434
2,450
TATAMTRDVR
296
300
302
306
309
TATAMOTORS
403
410
415
422
428
TATAPOWER
69
70
70
71
71
TATASTEEL
345
349
357
361
368
TECHM
468
474
481
487
494
ULTRACEMCO
3,148
3,209
3,265
3,326
3,382
WIPRO
551
554
559
562
566
YESBANK
864
870
879
885
894
ZEEL
396
398
401
404
407
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Technical & Derivatives Report
April 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]
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