Technical & Derivatives Report
July 28, 2016
Sensex (28024) / Nifty (8616)
Exhibit 1: Nifty Hourly Chart
Post the flat opening in yesterday’s session, the index picked up a
strong momentum on the upside in the initial hour of the trade
and in the process, went on to break the major hurdle of 8655. At
one point, it appeared as if Nifty is going to conquer the 8700
mark as well. But, quite surprising to most of us, the Nifty
corrected sharply after posting a high of 8665 and before anyone
could realize, it was once again below 8600. This intraday fall
got arrested around Tuesday’s low and thus, due to modest
recovery in the final hour, the Nifty managed to reclaim the 8600
mark on a closing basis.
For the second consecutive session, we saw a bout of strong
selling after reaching the August 2015 high of 8655. But, if we
look at the hourly chart, the Nifty is finding a strong support
around the breakout point of 8585, which coincides with the
‘Super Trend’ indicator. Thus, in the coming session, we may see
Nifty trading with a positive bias as long as it holds yesterday’s
low of 8572. In case, if Nifty breaks this support then we may see
some intraday weakness towards 8540 - 8520 levels. However,
with a directional view, our buy on dips strategy validates till the
index maintains its position above 8476. On the flipside, we
maintain our optimistic targets and expect the Nifty to surpass
8655 on a closing basis quite soon.
Key Levels
Support 1 - 8572
Resistance 1 - 8655
Support 2 - 8540
Resistance 2 - 8700
Nifty Bank Outlook - (19022)
Exhibit 2: Nifty Bank Daily Chart
Yesterday, the Nifty Bank index opened with marginal upside gap
and started moving higher from initial trades. Within first hour of
trading, the banking index breached its immediate resistance of
19030 - 19050 levels. But, we witnessed a sharp selling pressure
at higher level, which dragged the index down by around a
percent from its intraday high. However, due to modest recovery
in latter half the Nifty Bank index managed to close with gains of
0.85 percent over its previous close.
At current juncture, the Nifty Bank index is poised for a thrust in
upward direction and a sustainable move above 19125 - 19150
may result into a good rally, which should impel it to cross its
crucial resistance of 19229 also. Since, the momentum oscillator
and a set of moving averages are placed positively; we maintain
our bullish stance on the index and advise traders to buy on
intraday corrections. Going forward, immediate support is placed
at 18880 - 18800 zone.
Key Levels
Support 1 - 18880
Resistance 1 - 19150
Support 2 - 18800
Resistance 2 - 19229
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1
Technical & Derivatives Report
July 28, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 6.36%
BankNifty futures open interest has increased by 1.95%
as market closed at 8615.80 levels.
The Nifty July future closed with a discount of 1.05 points
against a premium of 2.20 points in previous session.
The August series closed at a premium of 44.80 points.
The Implied Volatility of at the money options has
decreased from 15.48% to 15.11%.
The total OI of the market is Rs. 3,05,519/- cr. and the
stock futures OI is Rs. 82,517/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, PCJEWELLER, SAIL, COLPAL
and GODREJIND.
Views
OI Gainers
Yesterday, FIIs were net buyer in both cash market and
OI
PRICE
Index Futures. They bought equities to the tune of Rs. 405
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
crores. While, they were marginal buyers of Rs. 83 crores
DRREDDY
2987000
39.92
2986.80
-10.24
in Index Futures with good amount of rise in open
TORNTPHARM
492400
38.00
1395.40
-4.52
interest, indicating blend of long and short build-up.
PCJEWELLER
889500
27.53
433.70
2.97
In Index Options segment, FIIs were net buyers of worth
Rs. 1142 crores with rise in OI. In call options, 8650 and
ADANIENT
20304000
26.21
83.10
-0.18
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8700 strikes added decent amount of OI; which are
CADILAHC
4217600
22.09
357.60
-4.56
mostly long positions fromed by FIIs. On the other hand
in put options, some build-up was visible in 8500 &
OI Losers
8600 strikes. Highest buildup in current series in now
OI
PRICE
SCRIP
OI
PRICE
place at 8700 call and 8500 put options.
CHG. (%)
CHG. (%)
Rollovers in Nifty is on the lower side in terms of
UPL
6630000
-16.24
608.55
5.31
percentage but is high if open intrest is considered. We
JINDALSTEL
48213000
-13.54
88.05
9.24
are witnessing huge long positions in Nifty from start of
CASTROLIND
6354600
-12.37
420.00
1.97
this series and these positions are still intact. Hence, we
JPASSOCIAT
144772000
-11.55
12.70
4.53
believe Nifty may continue to show strength and one can
ALBK
14450000
-11.02
78.35
-0.51
expect 8800 levels in near term.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
DRREDDY
62.16
NIFTY
1.07
0.94
L&TFH
50.58
BANKNIFTY
1.22
0.89
DISHTV
37.08
INFY
0.50
0.55
UBL
28.74
SBIN
0.80
0.82
TORNTPHARM
32.12
RELIANCE
0.45
0.44
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
25-07-2016
TATAMOTORS
Long Call
Active
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Technical & Derivatives Report
July 28, 2016
FII Statistics for 27-July 2016
Turnover on 27-July 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
6851.74
6768.46
83.28
468145
30861.38
6.58
449038
30478.71
19.21
FUTURES
FUTURES
INDEX
INDEX
61176.25
60033.79
1142.46
1098222
71900.18
1.01
7716532
519607.57
72.63
OPTIONS
OPTIONS
STOCK
23447.29
23660.50
(213.21)
920073
59615.18
4.03
STOCK
FUTURES
1394030
93298.96
4.88
FUTURES
STOCK
STOCK
7903.80
8008.33
(104.52)
118120
7907.03
0.15
OPTIONS
610598
42843.59
7.27
OPTIONS
TOTAL
99379.09
98471.08
908.00
2604560
170283.77
3.00
TOTAL
10170198
686228.84
50.67
Nifty Spot = 8615.80
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8600
37.80
Buy
8600
23.20
31.85
68.15
8631.85
18.15
81.85
8581.85
Sell
8700
5.95
Sell
8500
5.05
Buy
8600
37.80
Buy
8600
23.20
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37.10
162.90
8637.10
21.55
178.45
8578.45
Sell
8800
0.70
Sell
8400
1.65
Buy
8700
5.95
Buy
8500
5.05
5.25
94.75
8705.25
3.40
96.60
8496.60
Sell
8800
0.70
Sell
8400
1.65
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 28, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,632
1,648
1,674
1,691
1,717
ADANIPORTS
221
225
227
231
233
AMBUJACEM
259
264
271
275
282
ASIANPAINT
1,041
1,051
1,063
1,073
1,084
AUROPHARMA
767
781
789
803
810
AXISBANK
535
542
550
557
565
BAJAJ-AUTO
2,567
2,619
2,673
2,724
2,779
BANKBARODA
152
153
155
157
158
BHEL
144
146
149
151
154
BPCL
575
582
589
596
603
BHARTIARTL
364
368
373
377
382
INFRATEL
354
367
375
388
396
BOSCH
23,806
23,944
24,139
24,277
24,471
CIPLA
511
517
523
529
535
COALINDIA
320
323
327
330
334
DRREDDY
2,891
2,936
3,003
3,047
3,114
EICHERMOT
19,923
20,132
20,288
20,497
20,653
GAIL
376
381
387
391
398
GRASIM
4,815
4,842
4,881
4,908
4,947
HCLTECH
738
746
750
758
763
HDFCBANK
1,221
1,229
1,238
1,246
1,256
HDFC
1,355
1,371
1,385
1,401
1,414
HEROMOTOCO
3,138
3,171
3,220
3,253
3,302
HINDALCO
130
132
133
135
137
HINDUNILVR
893
898
904
909
915
ICICIBANK
258
264
269
275
280
IDEA
103
105
107
108
111
INDUSINDBK
1,147
1,163
1,172
1,188
1,197
INFY
1,069
1,077
1,087
1,095
1,105
ITC
242
245
249
252
257
KOTAKBANK
739
746
753
761
768
LT
1,573
1,588
1,601
1,616
1,630
LUPIN
1,638
1,679
1,709
1,750
1,781
M&M
1,423
1,439
1,451
1,466
1,479
MARUTI
4,447
4,503
4,565
4,621
4,683
NTPC
156
157
159
161
162
ONGC
216
220
224
227
231
POWERGRID
170
171
173
174
175
RELIANCE
999
1,006
1,016
1,023
1,033
SBIN
225
227
229
231
233
SUNPHARMA
784
796
803
815
822
TCS
2,532
2,555
2,568
2,590
2,603
TATAMTRDVR
319
325
328
334
337
TATAMOTORS
502
506
510
514
517
TATAPOWER
70
71
71
72
72
TATASTEEL
339
347
355
363
371
TECHM
487
489
492
495
497
ULTRACEMCO
3,606
3,629
3,659
3,681
3,712
WIPRO
538
544
548
554
558
YESBANK
1,159
1,180
1,197
1,218
1,235
ZEEL
468
478
486
496
504
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Technical & Derivatives Report
July 28, 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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