Technical & Derivatives Report
May 02, 2017
Sensex (29918) / Nifty (9304)
Exhibit 1: Nifty Daily Chart
After undergoing some consolidation of nearly six weeks, the Nifty
index resumed its broader uptrend during last week supported
and posted gains of over 2 percent during the week.
Technically speaking, the Nifty has closed above its strong
resistance of 127% reciprocal retracement level of the previous
fall from 8968.70 to 7893.80 on weekly chart. In the course of
action, the Nifty negated the formation of ‘Shooting Star’ pattern
on weekly chart, which is a sigh of relief for the bulls. Going
forward, a minor resistance for the Nifty is placed at 9367, but
looking at the weekly close, we expect it to be surpassed soon.
We would continue with our bullish stance on the market and
expect the index to gradually march towards our targets of 9500 -
9600. On the flipside, the penultimate week’s resistances of 9160
- 9200 will now act as a strong support for the index. At present,
a prudent strategy would be to follow a stock centric approach
and use any declines towards the mentioned support zone to form
directional longs in the market.
Key Levels
Support 1 - 9260
Resistance 1 - 9367
Support 2 - 9200
Resistance 2 - 9430
Nifty Bank Outlook - (22358)
Exhibit 2: Nifty Bank Weekly Chart
During last week, the Nifty Bank index outperformed the
benchmark indices and the index posted gains of 3.74 percent
over its previous week’s close.
So far, the Nifty Bank index has moved higher much on our
expected lines and has almost achieved our mentioned target of
22410 (161.8% retracement of the previous corrective move from
20575 to 17607). The Nifty PSU Bank index showed sheer
outperformance as the index gained 5.36 percent in last week.
The upmove in the stocks within the sector have been supported
by higher volumes. Hence, inspite of the Nifty Bank index closing
tad below our mentioned target/resistance level of 22410, we
continue to maintain our optimistic view on the index as are there
are no signs of reversal. We expect the index to surpass the
mentioned target/resistance and continue its upmove upto 22930
in near term. The intraday supports for the Nifty Bank index are
placed around 22170 and 22100 whereas resistances are seen
around 22410 and 22508.
Key Levels
Support 1 - 22170
Resistance 1 - 22410
Support 2 - 22100
Resistance 2 - 22508
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Technical & Derivatives Report
May 02, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.96%
BankNifty futures open interest has increased by 4.75%
as market closed at 9304.05 levels.
The Nifty May future closed with a premium of 29.65
points against the premium of 14.50 points in last
trading session. The June series closed at a premium of
26.85 points.
The Implied Volatility of at the money options has
decreased from 9.55% to 9.32%. At the same time, the
PCR-OI of Nifty has increased from 1.07 to 1.10 levels.
The total OI of the market is Rs. 2,64,700/- cr. and the
stock futures OI is Rs. 96,965/- cr.
Few of the liquid counters where we have seen high cost
of carry are IFCI, ADANIPOWER, GSFC, FORTIS and
GMRINFRA90.
Views
On Friday, FIIs were net sellers in both cash market
OI Gainers
segment and index futures. They sold equities worth
OI
PRICE
Rs. 1150 crores. While, they were sellers in index futures
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
to the tune of Rs. 682 crores with fall in open interest;
UJJIVAN
6414000
35.69
381.60
-5.91
indicating long unwinding took place in previous trading
IBREALEST
20290000
30.15
149.85
-3.58
session.
ADANIENT
38192000
29.27
108.95
-3.85
In index options, FIIs bought worth Rs. 2467 crores with
MUTHOOTFIN
1932000
24.20
394.30
-1.22
good amount of rise in open interest. In Call options,
JINDALSTEL
44451000
22.43
114.00
0.97
9300 and 9400 strikes added some fresh positions. On
FEDERALBNK
64724000
21.95
107.60
14.89
the other hand, decent amount of open interest addition
BHARATFIN
24389000
20.92
803.65
2.29
was seen in 9100-9300 put options. Highest open
INFIBEAM
768000
18.45
1059.45
-5.44
interest in current (May) series is placed at 9500 call and
9000 put options.
OI Losers
Last week, the benchmark indices rallied sharply and
OI
PRICE
registered a new record high. Post profit-booking seen in
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Nifty during the consolidation phase; significant amount
HEXAWARE
2820000
-12.31
231.05
-0.20
of buying interest was observed last week. This is the fifth
M&MFIN
12482500
-4.91
337.20
1.94
consecutive month, when Nifty ended the series on a
MRF
50835
-3.89
67909.20
-0.92
positive note (Month on Month basis) and FIIs too
ONGC
48285000
-3.33
186.55
4.44
participated by rolling 70% of their longs in index futures.
ASIANPAINT
3445800
-2.91
1120.45
1.71
Overall derivatives data hints, continuation of up move
APOLLOHOSP
2246000
-2.89
1233.25
-0.59
towards
9450-9500, but one should avoid being
DCBBANK
4126500
-2.86
183.85
1.51
hastened to form longs at these levels as market has
IDFCBANK
94457000
-2.85
65.75
1.38
already run up sharply.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
FEDERALBNK
69.03
NIFTY
1.10
0.83
IFCI
53.33
BANKNIFTY
1.13
0.87
CANBK
46.19
RELIANCE
0.45
0.41
ONGC
25.26
ICICIBANK
0.85
0.59
SYNDIBANK
53.26
INFY
0.44
0.50
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Technical & Derivatives Report
May 02, 2017
FII Statistics for April 28, 2017
Turnover on April 28, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1508.94
2190.75
(681.81)
221500
16008.19
(2.50)
162463
12551.30
-63.84
FUTURES
FUTURES
INDEX
INDEX
28568.67
26141.98
2426.69
696328
49182.37
10.16
2416196
194930.45
41.26
OPTIONS
OPTIONS
STOCK
7779.00
8312.50
(533.49)
1009131
67234.56
6.89
STOCK
FUTURES
721270
54764.31
-92.81
FUTURES
STOCK
STOCK
4701.61
4613.17
88.44
24280
1759.59
901.24
362505
29108.87
-53.28
OPTIONS
OPTIONS
TOTAL
42558.22
41258.39
1299.83
1951239
134184.72
8.05
TOTAL
3662434
291354.93
-70.77
Nifty Spot = 9304.05
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9300
114.05
Buy
9300
84.55
52.05
47.95
9352.05
31.25
68.75
9268.75
Sell
9400
62.00
Sell
9200
53.30
Buy
9300
114.05
Buy
9300
84.55
86.00
114.00
9386.00
50.40
149.60
9249.60
Sell
9500
28.05
Sell
9100
34.15
Buy
9400
62.00
Buy
9200
53.30
33.95
66.05
9433.95
19.15
80.85
9180.85
Sell
9500
28.05
Sell
9100
34.15
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
May 02, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,594
1,610
1,623
1,639
1,651
ADANIPORTS
319
323
326
330
333
AMBUJACEM
241
243
247
249
253
ASIANPAINT
1,097
1,109
1,117
1,128
1,137
AUROPHARMA
592
599
611
619
631
AXISBANK
499
504
510
515
521
BAJAJ-AUTO
2,825
2,845
2,873
2,893
2,921
BANKBARODA
179
183
186
190
193
BPCL
702
711
725
734
748
BHARTIARTL
347
351
355
359
362
INFRATEL
344
349
359
364
374
BOSCHLTD
22,177
22,584
22,832
23,239
23,487
CIPLA
551
554
558
561
565
COALINDIA
272
274
276
279
280
DRREDDY
2,569
2,584
2,599
2,613
2,628
EICHERMOT
25,816
25,942
26,096
26,222
26,375
GAIL
412
418
421
427
431
GRASIM
1,126
1,141
1,164
1,179
1,202
HCLTECH
791
803
811
823
832
HDFCBANK
1,525
1,536
1,548
1,559
1,571
HDFC
1,511
1,524
1,545
1,558
1,579
HEROMOTOCO
3,264
3,291
3,316
3,343
3,368
HINDALCO
187
193
198
205
210
HINDUNILVR
924
930
938
943
951
IBULHSGFIN
985
1,001
1,011
1,028
1,038
ICICIBANK
270
274
277
281
283
IOC
426
433
440
447
455
INDUSINDBK
1,416
1,430
1,455
1,470
1,495
INFY
909
914
921
926
932
ITC
271
275
281
284
290
KOTAKBANK
889
895
908
914
927
LT
1,726
1,738
1,752
1,764
1,777
LUPIN
1,290
1,314
1,343
1,367
1,396
M&M
1,305
1,320
1,333
1,348
1,360
MARUTI
6,302
6,414
6,502
6,613
6,701
NTPC
163
164
164
165
166
ONGC
177
182
184
189
192
POWERGRID
205
206
208
209
210
RELIANCE
1,373
1,384
1,402
1,413
1,431
SBIN
279
285
288
293
296
SUNPHARMA
634
638
641
645
648
TCS
2,249
2,261
2,280
2,292
2,311
TATAMTRDVR
273
277
279
283
285
TATAMOTORS
451
455
458
462
466
TATAPOWER
83
84
84
85
86
TATASTEEL
438
444
451
457
464
TECHM
408
412
421
425
433
ULTRACEMCO
4,191
4,220
4,245
4,274
4,299
WIPRO
486
490
494
498
502
YESBANK
1,609
1,620
1,632
1,643
1,655
ZEEL
514
520
525
532
537
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Technical & Derivatives Report
May 02, 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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