Technical & Derivatives Report
February 01, 2017
Sensex (27656) / Nifty (8561)
Exhibit 1: Nifty Daily Chart
Our markets opened on a flat note and immediately started
drifting lower after taking cues from weak global bourses. This
corrective move extended as the day progressed as so many
heavy pockets witnessed tremendous profit booking, especially in
the latter half. As a result, the Nifty eventually ended the session
with more than third of a quarter cut.
Yesterday’s correction was on cards after seeing such a steep rally
of nearly 350 points on Nifty in a span of merely 4 sessions.
Moreover, Union Budget is scheduled tomorrow and hence,
momentum traders opted to take some money off the table ahead
of the event. Despite this decline, we still do not see any major
trend reversal, in fact would interpret this as a healthy
development for the next upward leg of the rally. The immediate
support for the Nifty index is placed around 8560 - 8500;
whereas the index is expected to rally up to 8678 - 8737 in the
short term. Tomorrow’s session is expected to trade with
enhanced volatility and hence, any change in opinion (or chart
structure) would be assessed on end of the day basis.
Key Levels
Support 1 - 8560
Resistance 1 - 8678
Support 2 - 8500
Resistance 2 - 8737
Nifty Bank Outlook - (19515)
Exhibit 2: Nifty Bank Daily Chart
In line with the broader market, the Nifty Bank index too corrected
marginally in yesterday's trading session. However, the index
relatively outperformed the broader markets and it ended the
session with loss of 0.36 percent.
In today's trading session, there could be higher volatility on
account of the announcement that would be made by the Finance
Minister in the 'Budget 2017-18'. However, if we observe the
charts irrespective of the event, then the broader trend for the
Nifty Bank index along with several index heavyweight
constituents continues to be positive. Hence, traders should be
vigilant on the market moves and any declines should be used to
time stock specific buying opportunities. Traders are also advised
to strictly follow money management on their trading positions.
The intraday supports for the Nifty Bank index are placed around
19275 and 19110 whereas resistances is seen in the range of
19800-19900.
Key Levels
Support 1 - 19275
Resistance 1 - 19800
Support 2 - 19110
Resistance 2 - 19900
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Technical & Derivatives Report
February 01, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 2.09%
BankNifty futures open interest has decreased by 5.15%
as market closed at 8561.30 levels.
The Nifty February future closed with a premium of
23.00 points against the premium of 22.60 points in last
trading session. The March series closed at a premium of
49.95 points.
The Implied Volatility of at the money options has
increased from 15.68% to 16.15%. At the same time, the
PCR-OI of Nifty has increased from 0.97 to 0.98 levels.
The total OI of the market is Rs. 2,53,770/- cr. and the
stock futures OI is Rs. 77,987/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, JPASSOCIAT, TV18BRDCST,
ADANIENT and PTC.
Views
OI Gainers
Yesterday, FIIs were net sellers in both cash market
OI
PRICE
SCRIP
OI
PRICE
segment and index futures. They sold equities worth Rs.
CHG. (%)
CHG. (%)
533 crores. While in index futures, they were net sellers
INFRATEL
9048000
34.23
294.40
-10.80
to the tune of Rs. 320 crores with fall in open interest,
ONGC
35557500
17.08
201.20
-0.10
suggesting some long unwinding in last trading session.
CADILAHC
3315200
17.00
350.55
-6.95
In Index Options segment, FIIs bought worth Rs. 500
PFC
18612000
16.84
129.35
-3.40
crores with good amount of rise in open interest. In call
MINDTREE
2937600
14.66
451.60
-3.48
options, 8700-9000 strikes remained active and they
WIPRO
5452800
12.87
457.45
-1.67
also added decent positions. On the other hand, in put
OIL
2864224
11.46
321.95
-3.38
option, good amount of build-up was visible in 8400
TCS
5327750
11.23
2237.15
-4.51
and 8000 strikes. Highest open interest in current series
remains intact at 9000 call and 8400 put options.
OI Losers
Since, past two trading sessions FIIs remained net sellers
OI
PRICE
SCRIP
OI
PRICE
in Index Futures. However, the quantum of selling and
CHG. (%)
CHG. (%)
profit booking was not very significant. We believe longs
IBREALEST
36070000
-11.05
75.65
-4.18
formed in last couple of weeks are still intact. Yesterday,
SRF
411000
-7.95
1712.10
0.82
FIIs bought good amount of put options, which may be a
BAJFINANCE
5666000
-7.29
1040.85
-1.76
hedge strategy ahead of ‘Union Budget’. Unless we don’t
CESC
3542000
-7.18
737.60
-1.05
see any relevant follow-up selling/profit booking by
BIOCON
2669400
-6.46
1013.00
-1.12
stronger hands, we continue to remain optimistic in near
PIDILITIND
1141000
-6.32
675.40
-0.79
term. Thus, traders are suggested to avoid shorting and
DCBBANK
3942000
-6.01
118.45
-0.59
use decline to form fresh longs.
SUNTV
8244000
-5.39
527.30
-0.89
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
INFRATEL
69.03
NIFTY
0.98
0.92
CADILAHC
49.96
BANKNIFTY
0.82
0.71
TCS
32.07
ICICIBANK
0.53
0.60
GRASIM
44.95
INFY
0.52
0.74
TECHM
33.76
IDEA
1.30
0.71
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Technical & Derivatives Report
February 01, 2017
FII Statistics for January 31, 2017
Turnover on January 31, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2435.02
2755.02
(320.00)
231626
15278.23
(3.70)
233383
16038.64
46.68
FUTURES
FUTURES
INDEX
INDEX
33161.54
32661.26
500.28
945741
61709.28
10.71
3006116
211975.67
56.97
OPTIONS
OPTIONS
STOCK
8912.11
9908.34
(996.23)
956673
61953.26
1.07
STOCK
FUTURES
701594
47702.04
17.36
FUTURES
STOCK
STOCK
4579.80
4654.61
(74.81)
53260
3575.96
25.72
383807
26805.56
25.26
OPTIONS
OPTIONS
TOTAL
49088.47
49979.23
(890.76)
2187300
142516.72
4.97
TOTAL
4324900
302521.90
45.43
Nifty Spot = 8561.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8600
130.60
Buy
8500
105.25
45.55
54.45
8645.55
31.10
68.90
8468.90
Sell
8700
85.05
Sell
8400
74.15
Buy
8600
130.60
Buy
8500
105.25
79.65
120.35
8679.65
54.00
146.00
8446.00
Sell
8800
50.95
Sell
8300
51.25
Buy
8700
85.05
Buy
8400
74.15
34.10
65.90
8734.10
22.90
77.10
8377.10
Sell
8800
50.95
Sell
8300
51.25
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
February 01, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,390
1,402
1,418
1,430
1,447
ADANIPORTS
284
289
297
302
311
AMBUJACEM
224
226
229
231
234
ASIANPAINT
957
964
971
977
984
AUROPHARMA
666
674
687
695
708
AXISBANK
460
463
467
471
475
BAJAJ-AUTO
2,718
2,776
2,847
2,905
2,977
BANKBARODA
162
163
166
168
171
BHEL
133
135
138
140
143
BPCL
660
671
688
699
717
BHARTIARTL
338
343
348
353
358
INFRATEL
253
273
303
324
353
BOSCH
21,774
21,952
22,248
22,427
22,723
CIPLA
567
571
577
581
587
COALINDIA
298
303
309
315
320
DRREDDY
2,995
3,007
3,024
3,036
3,054
EICHERMOT
21,953
22,491
22,943
23,481
23,934
GAIL
455
462
472
478
488
GRASIM
867
889
928
950
989
HCLTECH
762
786
812
837
862
HDFCBANK
1,270
1,278
1,285
1,294
1,301
HDFC
1,334
1,350
1,369
1,385
1,404
HEROMOTOCO
3,112
3,142
3,181
3,211
3,249
HINDALCO
187
188
191
192
195
HINDUNILVR
845
850
857
862
868
ICICIBANK
262
266
270
273
277
IDEA
88
99
109
120
130
INDUSINDBK
1,229
1,241
1,248
1,259
1,266
INFY
888
908
925
945
962
ITC
252
255
258
261
263
KOTAKBANK
755
765
773
782
790
LT
1,415
1,431
1,443
1,459
1,471
LUPIN
1,439
1,455
1,482
1,498
1,526
M&M
1,221
1,231
1,240
1,249
1,258
MARUTI
5,842
5,868
5,902
5,928
5,961
NTPC
168
170
174
176
180
ONGC
194
198
205
209
216
POWERGRID
202
205
207
209
212
RELIANCE
1,033
1,039
1,046
1,053
1,060
SBIN
257
259
261
263
265
SUNPHARMA
618
625
637
644
656
TCS
2,122
2,176
2,254
2,308
2,386
TATAMTRDVR
324
329
334
338
344
TATAMOTORS
511
517
524
531
538
TATAPOWER
77
79
81
82
84
TATASTEEL
454
458
465
470
476
TECHM
395
424
454
483
513
ULTRACEMCO
3,629
3,662
3,699
3,732
3,769
WIPRO
436
447
456
467
477
YESBANK
1,373
1,385
1,392
1,404
1,411
ZEEL
482
486
491
494
499
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Technical & Derivatives Report
February 01, 2017
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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