Technical & Derivatives Report
May 03, 2017
Sensex (29921) / Nifty (9314)
Exhibit 1: Nifty Daily Chart
After an extended weekend, trading began slightly higher citing to
positive cues from the Asian bourses. However, immediately post
the opening hour, we witnessed a sharp corrective move to test
the 9270 mark. As expected, the Nifty rebounded from this
intraday support zone and eventually closed with minor gains
beyond the 9300 mark.
Although, we witnessed some profit taking in the first half, the
overall activity on the index front was slightly muted. Due to
yesterday’s intraday dip, the Nifty precisely tested the previous
high of 9273.90, which was then followed by a modest recovery
in the latter half. This is certainly an encouraging sign for the
index. In addition, the Nifty also managed to defend the ‘5-day
EMA’ (9298) on a closing basis. Hence, we would continue with
our optimistic stance on the market and expect similar buying
emerging at every intraday decline. Very soon, we expect yet
another milestone of 9400 to be achieved, which is the 161%
retracement of the recent small dip from 9273.90 to 9075.15.
On the flip side, yesterday’s low of 9269 would be seen as a
sheet anchor for the index. Traders are repeatedly advised to stay
on the long side and one should continue focusing stocks that
have stronger chart structure.
Key Levels
Support 1 - 9298
Resistance 1 - 9367
Support 2 - 9269
Resistance 2 - 9400
Nifty Bank Outlook - (22341)
Exhibit 2: Nifty Bank Weekly Chart
The Nifty Bank index opened on a positive note and rallied higher
in initial hour of trade. However, the index then corrected
marginally during the day and traded in a narrow range to end
the session with negligible loss.
In the initial hour of trade, the Nifty Bank index tested our
positional target of 22410, which was the 161.8% retracement of
the previous corrective move from 20575 to 17607. However,
since there are no signs of reversal at the mentioned resistance,
we expect the index to continue its uptrend and move higher upto
22930. On the flipside, the support base for the index has shifted
higher to the range of 21800 - 22000. Hence, we advise traders
to continue to trade with positive bias and focus on stock-specific
approach. The intraday supports for the Nifty Bank index are
placed around 22170 and 22100 whereas resistances are seen
around 22508 and 22642.
Key Levels
Support 1 - 22170
Resistance 1 - 22508
Support 2 - 22100
Resistance 2 - 22642
www.angelbroking.com
Technical & Derivatives Report
May 03, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.18%
BankNifty futures open interest has decreased by 2.92%
as market closed at 9313.80 levels.
The Nifty May future closed with a premium of 25.50
points against the premium of 29.65 points in last
trading session. The June series closed at a premium of
22.10 points.
The Implied Volatility of at the money options has
increased from 9.32% to 10.01%. At the same time, the
PCR-OI of Nifty has increased from 1.10 to 1.11 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 PEL, BALKRISIND, SOUTHBANK, ICIL and
GMRINFRA.
Views
Yesterday, FIIs were net sellers in both cash market
OI Gainers
segment and index futures. They sold equities worth
OI
PRICE
Rs. 612 crores. While, they were sellers in index futures
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
to the tune of Rs. 714 crores with fall in open interest;
CANFINHOME
246500
129.30
2836.25
8.30
indicating continuation of long unwinding in previous
GODFRYPHLP
169000
103.61
1221.05
2.33
trading session.
VGUARD
768000
74.15
190.40
-0.16
In index options, FIIs bought worth Rs. 793 crores with
DCBBANK
6340500
53.65
197.05
7.64
decent amount of rise in open interest. As far as Nifty
RAYMOND
404800
53.33
726.10
-2.46
options are concerned, call options 9300 & 9500 were
MRPL
1467000
50.23
129.25
-3.19
reasonably active and they also added fresh position.
BAJAJFINSV
168250
43.80
4566.15
-0.20
While, good amount of build-up was observed in
CHOLAFIN
123500
31.38
1092.00
-2.02
9200- 9300 put options and it appears to be long
positions as Implied Volatility of puts surged during the
day. Highest open interest in current (May) series is
OI Losers
OI
PRICE
placed at 9500 call and 9000 put options.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Despite, some consolidation seen in last 2-3 days, we
ADANIENT
33840000
-11.40
112.75
2.87
are hardly witnessing any relevant short formations in
JSWENERGY
62712000
-9.84
62.25
-7.70
Index Futures. This move is mainly because of long
NIITTECH
525000
-7.65
463.20
0.66
unwinding of FIIs existing longs (in index futures). While,
ACC
1518000
-7.17
1593.05
-2.24
in cash segment they continue curbing liquidity. At
DALMIABHA
1158600
-6.71
2191.00
0.61
current juncture, we can hardly trace any major signs of
PAGEIND
25550
-5.89
14792.80
1.82
reversal from the above data. Thus, traders are
HEXAWARE
2667000
-5.43
227.50
-0.87
suggested to avoid shorting in index and use stock
PVR
480000
-5.14
1600.60
-0.90
specific approach to fetch higher returns.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
LICHSGFIN
31.79
NIFTY
1.11
0.97
L&TFH
33.67
BANKNIFTY
1.11
0.90
JSWENERGY
51.81
RELIANCE
0.38
0.41
DCBBANK
48.89
ICICIBANK
0.74
0.47
IBULHSGFIN
39.04
INFY
0.42
0.45
www.angelbroking.com
Technical & Derivatives Report
May 03, 2017
FII Statistics for May 02, 2017
Turnover on May 02, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
952.53
1666.03
(713.51)
212703
15402.02
(3.97)
181345
13929.55
10.98
FUTURES
FUTURES
INDEX
INDEX
35855.23
35062.57
792.65
708649
50113.85
1.77
3342820
273031.52
40.07
OPTIONS
OPTIONS
STOCK
7058.12
7234.32
(176.21)
1022402
68039.87
1.32
STOCK
FUTURES
661267
49900.15
-8.88
FUTURES
STOCK
STOCK
4642.94
4497.82
145.12
32203
2339.35
32.63
351420
27761.10
-4.63
OPTIONS
OPTIONS
TOTAL
48508.81
48460.75
48.07
1975957
135895.09
1.27
TOTAL
4536852
364622.32
25.15
Nifty Spot = 9313.80
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9300
115.10
Buy
9300
80.40
53.50
46.50
9353.50
30.50
69.50
9269.50
Sell
9400
61.60
Sell
9200
49.90
Buy
9300
115.10
Buy
9300
80.40
87.90
112.10
9387.90
48.90
151.10
9251.10
Sell
9500
27.20
Sell
9100
31.50
Buy
9400
61.60
Buy
9200
49.90
34.40
65.60
9434.40
18.40
81.60
9181.60
Sell
9500
27.20
Sell
9100
31.50
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
www.angelbroking.com
Technical & Derivatives Report
May 03, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,541
1,567
1,596
1,622
1,651
ADANIPORTS
324
327
330
333
336
AMBUJACEM
231
237
241
246
250
ASIANPAINT
1,079
1,096
1,117
1,133
1,154
AUROPHARMA
576
586
601
612
627
AXISBANK
495
500
507
512
518
BAJAJ-AUTO
2,851
2,874
2,897
2,921
2,944
BANKBARODA
183
186
189
192
195
BPCL
713
726
735
748
756
BHARTIARTL
341
344
350
353
359
INFRATEL
345
349
354
359
364
BOSCHLTD
22,495
22,804
23,013
23,322
23,531
CIPLA
551
553
556
558
561
COALINDIA
271
273
276
278
281
DRREDDY
2,538
2,560
2,588
2,611
2,639
EICHERMOT
24,547
25,169
25,958
26,580
27,370
GAIL
415
422
427
434
439
GRASIM
1,129
1,141
1,157
1,170
1,186
HCLTECH
806
814
820
828
833
HDFCBANK
1,520
1,530
1,541
1,551
1,561
HDFC
1,520
1,552
1,571
1,604
1,623
HEROMOTOCO
3,265
3,309
3,349
3,393
3,433
HINDALCO
196
198
201
203
206
HINDUNILVR
917
922
930
936
943
IBULHSGFIN
999
1,036
1,057
1,094
1,115
ICICIBANK
271
273
277
279
283
IOC
435
439
444
448
452
INDUSINDBK
1,432
1,439
1,447
1,454
1,462
INFY
910
916
921
928
933
ITC
274
277
279
282
284
KOTAKBANK
894
906
913
925
932
LT
1,699
1,716
1,741
1,758
1,783
LUPIN
1,267
1,285
1,320
1,338
1,373
M&M
1,314
1,327
1,340
1,354
1,366
MARUTI
6,573
6,639
6,685
6,751
6,797
NTPC
159
160
163
165
167
ONGC
185
189
191
195
198
POWERGRID
202
204
206
208
211
RELIANCE
1,344
1,357
1,380
1,393
1,415
SBIN
284
286
289
292
295
SUNPHARMA
618
625
635
642
652
TCS
2,269
2,279
2,291
2,301
2,313
TATAMTRDVR
266
269
274
278
283
TATAMOTORS
444
447
452
456
461
TATAPOWER
83
83
84
84
85
TATASTEEL
437
441
447
452
458
TECHM
412
415
420
423
428
ULTRACEMCO
4,105
4,156
4,202
4,253
4,299
WIPRO
491
493
495
497
500
YESBANK
1,608
1,621
1,636
1,649
1,665
ZEEL
518
526
532
540
546
www.angelbroking.com
Technical & Derivatives Report
May 03, 2017
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a
registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number
INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing
/dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed public
offering of securities of the company covered by *Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
www.angelbroking.com