Technical & Derivatives Report
August 30, 2016
Sensex (27903) / Nifty (8607)
Exhibit 1: Nifty Hourly Chart
The opening session of the week began on a flat note citing
mixed global cues. Subsequently, the index corrected sharply after
making a open high (on hourly chart) in the initial trade to re-test
Friday’s low of 8547.55. However, as mentioned in our earlier
report, a contradictory view to go long around the 8550 mark
played out well for us.
Technically speaking, we were closely observing Nifty’s movement
around two key levels, 8550 and 8520. Due to first hour selling,
the Nifty re-tested the first support of 8550 and formed a long
bearish candle (Mother Bar) on hourly chart. This was followed by
slightly smaller bullish candle, which completed the ‘Inside Bar’
pattern to confirm a 5th point for ‘Bullish Wolfe Wave’. The
impact of this reversal pattern was seen in the latter half as the
Nifty gave a smart recovery to reclaim the 8600 mark on a
closing basis. Now, going forward, traders holding long positions
(created around the 5th point) should now trail their stop loss
higher from 8500 to 8540. We would continue with our optimistic
view and expect the index to extend this up move towards 8680 -
8710. Having said that, traders are advised to keep following
strict stop losses as we interpret this price action as a small part of
the near term consolidation phase.
Key Levels
Support 1 - 8540
Resistance 1 - 8680
Support 2 - 8500
Resistance 2 - 8710
Nifty Bank Outlook - (19217)
Exhibit 2: Nifty Bank Hourly Chart
Amidst volatile trading session yesterday, the Nifty Bank index
corrected marginally during the session, but managed to recover
the losses during last hour of the day and ended the session with
gains of 0.41 percent.
The Nifty Bank index pulled back higher during last hour of trade
from the 38.2% retracement support of the previous upmove on
hourly chart. Yesterday's low also coincided with the 'Parabolic
SAR' support on daily charts and close to the breakout support of
19050, which we had mentioned in our yesterday's outlook.
Going ahead, we expect the index continue to consolidate in
broader range of 19050-19485. However, since the index has
shown tendency of pullback move from the support, traders are
advised to trade with positive bias with proper risk management
strategies. The intraday support for the index is placed in range of
19100-19050 whereas resistances are seen around 19360 and
19433.
Key Levels
Support 1 - 19100
Resistance 1 - 19360
Support 2 - 19050
Resistance 2 - 19433
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1
Technical & Derivatives Report
August 30, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.92%
BankNifty futures open interest has increased by 7.60%
as market closed at 8607.45 levels.
The Nifty September future closed with a premium of
42.30 points against a premium of 52.45 points in
previous session. The October series closed at a
premium of 80.45 points.
The Implied Volatility of at the money options has
decreased from 12.37% to 11.78%.
The total OI of the market is Rs. 2,38,333/- cr. and the
stock futures OI is Rs. 76,575/- cr.
Few of the liquid counters where we have seen high cost
of carry are INDIACEM, ADANIPOWER, JPASSOCIAT,
DIVISLAB and SYNDIBANK.
Views
FIIs were net buyers in both equity cash and index futures
segment. They bought equities worth Rs. 287 crores.
OI Gainers
While, they were net buyers to the tune of Rs. 41 crores
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
in Index Futures with rise in OI, indicating blend of long
ICIL
598200
17.16
838.50
-3.03
and short formation in last trading session.
IGL
1783100
13.91
764.70
1.78
On Index Options front, FIIs were net buyers of Rs. 165
crores with significant rise in OI. In call options, 8600
UPL
5116800
13.83
642.20
0.73
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and 8800 strikes were active and added decent amount
WIPRO
9655000
13.63
482.05
-5.13
of fresh positions. While in put options, 8500 and 8600
HEXAWARE
7226000
12.98
199.05
-6.66
strikes added huge positions. Highest OI in September
series is visible in 9000 call and 8500 put options.
OI Losers
FIIs have squared off most of their index shorts on expiry
OI
PRICE
SCRIP
OI
PRICE
day and we are witnessing fresh buying in Index Futures,
CHG. (%)
CHG. (%)
which is a positive sign for the market. Currently, 8500-
PAGEIND
39300
-4.50
14716.50
2.36
8550 will remain a crucial support for index. Since,
ACC
1182400
-3.74
1645.70
-0.68
derivative data and FIIs activity are showing strength in
EICHERMOT
147100
-3.32
22390.15
0.68
the market; traders are advised to trade with positive
LICHSGFIN
7671400
-3.29
574.05
2.19
bias.
AUROPHARMA
13425300
-3.00
789.60
-0.68
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HEXAWARE
37.99
NIFTY
1.05
0.99
ZEEL
34.84
BANKNIFTY
0.98
0.83
M&MFIN
37.98
RELIANCE
0.57
0.43
RELCAPITAL
44.08
SBIN
0.68
0.52
RELIANCE
24.99
TATAMOTORS
1.09
0.63
Strategy Date
Symbol
Strategy
Status
01-08-2016
RELIANCE
Ratio Bear Put Spread
Loss on Expiry
08-08-2016
SBIN
Bull Call Spread
Profit on Expiry
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2
Technical & Derivatives Report
August 30, 2016
FII Statistics for 29-August 2016
Turnover on 29-August 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
2549.03
2508.37
40.65
357530
23546.94
1.38
219986
15141.75
-0.93
FUTURES
FUTURES
INDEX
INDEX
29282.20
29117.37
164.83
884329
57766.64
5.19
2314025
162968.68
5.59
OPTIONS
OPTIONS
STOCK
5284.89
4878.07
406.82
823821
54156.90
1.24
STOCK
FUTURES
481174
33333.38
-8.31
FUTURES
STOCK
STOCK
3431.71
3464.32
(32.61)
47617
3199.29
46.87
OPTIONS
253216
17745.63
0.77
OPTIONS
TOTAL
40547.82
39968.13
579.69
2113297
138669.77
3.61
TOTAL
3268401
229189.44
2.50
Nifty Spot = 8607.45
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8700
88.60
Buy
8600
100.05
39.60
60.40
8739.60
30.75
69.25
8569.25
Sell
8800
49.00
Sell
8500
69.30
Buy
8700
88.60
Buy
8600
100.05
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64.40
135.60
8764.40
53.55
146.45
8546.45
Sell
8900
24.20
Sell
8400
46.50
Buy
8800
49.00
Buy
8500
69.30
24.80
75.20
8824.80
22.80
77.20
8477.20
Sell
8900
24.20
Sell
8400
46.50
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
August 30, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,615
1,625
1,633
1,643
1,652
ADANIPORTS
242
252
258
268
274
AMBUJACEM
261
262
264
266
268
ASIANPAINT
1,093
1,102
1,114
1,123
1,134
AUROPHARMA
771
779
789
796
806
AXISBANK
580
584
591
595
602
BAJAJ-AUTO
2,772
2,830
2,867
2,925
2,962
BANKBARODA
156
158
159
161
163
BHEL
136
139
140
142
144
BPCL
590
595
598
602
606
BHARTIARTL
329
336
342
348
354
INFRATEL
329
334
341
345
353
BOSCH
23,335
23,550
23,775
23,989
24,215
CIPLA
560
564
567
571
575
COALINDIA
329
331
333
335
337
DRREDDY
3,001
3,027
3,043
3,068
3,084
EICHERMOT
22,083
22,195
22,273
22,385
22,463
GAIL
372
375
379
382
386
GRASIM
4,480
4,502
4,535
4,557
4,591
HCLTECH
731
743
763
775
795
HDFCBANK
1,224
1,231
1,243
1,250
1,263
HDFC
1,349
1,362
1,371
1,384
1,393
HEROMOTOCO
3,232
3,322
3,370
3,460
3,509
HINDALCO
152
155
157
160
162
HINDUNILVR
898
901
905
908
912
ICICIBANK
241
246
249
254
257
IDEA
92
93
94
95
96
INDUSINDBK
1,138
1,147
1,157
1,166
1,176
INFY
1,002
1,013
1,021
1,032
1,040
ITC
250
251
253
254
256
KOTAKBANK
768
775
782
788
796
LT
1,403
1,431
1,447
1,476
1,492
LUPIN
1,446
1,463
1,488
1,504
1,529
M&M
1,406
1,414
1,422
1,430
1,437
MARUTI
4,900
4,914
4,934
4,948
4,969
NTPC
156
158
159
161
162
ONGC
235
236
238
239
241
POWERGRID
176
178
180
182
183
RELIANCE
1,014
1,036
1,048
1,069
1,081
SBIN
242
246
248
251
253
SUNPHARMA
740
750
756
766
772
TCS
2,433
2,467
2,501
2,535
2,569
TATAMTRDVR
330
334
337
341
344
TATAMOTORS
510
518
523
531
537
TATAPOWER
75
75
76
76
77
TATASTEEL
365
369
372
377
380
TECHM
439
445
454
459
468
ULTRACEMCO
3,736
3,759
3,781
3,804
3,826
WIPRO
468
473
482
488
497
YESBANK
1,307
1,323
1,333
1,349
1,359
ZEEL
495
513
523
540
550
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Technical & Derivatives Report
August 30, 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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