Technical & Derivatives Report
May 05, 2017
Sensex (30126) / Nifty (9360)
Exhibit 1: Nifty Daily Chart
Yesterday, first half was quite identical to previous couple of
sessions as the index opened higher and then corrected a bit from
day’s high. But, the end was completely different as we witnessed
a strong buying interest at lower levels after filling up morning’s
gap to conclude the session almost at the highest point of the
day. Clearly, it was only the heavyweight private banking counter;
‘ICICI Bank’ which has given a breath-taking move of 9% in the
upward direction; leading benchmark index towards the highest
closing ever.
Since last couple of months, we have been witnessing some or the
other index heavyweight comes out and gives a stellar move to
continue this northward journey of the index. Earlier, it was HDFC
bank, Reliance, and L&T and now ‘ICICI bank’ has joined this
bandwagon. Although, yesterday’s candle depicts a ‘Doji’, we
would not interpret this as a sign of caution. Rather, we reiterate
that the index is likely to march gradually towards yet another
milestone of 9400, which is the 161% retracement of the recent
small dip from 9273.90 to 9075.15 and then eventually towards
9550 - 9600. This move would be supported by the ‘RSI-
smoothened’ on daily chart, which has once again surpassed the
70 mark in the northward direction. On the flip side, 9323 -
9298 are seen as immediate support levels for the index.
Key Levels
Support 1 - 9323
Resistance 1 - 9400
Support 2 - 9298
Resistance 2 - 9455
Nifty Bank Outlook - (22720)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened gap up owing to the positive
opening by ICICI Bank and continued the positive momentum
throughout the session. The index eventually ended the session at
its all-time high with gains of 1.85 percent.
Post the announcement of the Q4 results, ICICI Bank opened
higher with a gap of about 7 percent. Since it's one of the
heavyweights in the Nifty Bank index, the index too opened higher
and breached the resistance with a gap. Although, inspite of the
consolidation near the resistance in last couple of trading
sessions, we have been anticipating the breakout in our daily
reports. The stocks within the PSU Bank sector too participated in
the rally yesterday as the Nifty PSU Bank index gained
3.42
percent. Since the trend continues to be positive, we continue with
our advice to trade with positive bias. In today's session, we
expect the index to test our earlier mentioned target of 22930 -
23000. The intraday supports for the Nifty Bank index are placed
around 22600 and 22450 whereas resistances are seen around
22930 - 23000.
Key Levels
Support 1 - 22600
Resistance 1 - 22930
Support 2 - 22450
Resistance 2 - 23000
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Technical & Derivatives Report
May 05, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.26%
BankNifty futures open interest has increased by 12.77%
as market closed at 9359.90 levels.
The Nifty May future closed with a premium of 17.05
points against the premium of 28.30 points in last
trading session. The June series closed at a premium of
16.95 points.
The Implied Volatility of at the money options has
decreased from 10.31% to 9.80%. At the same time, the
PCR-OI of Nifty has increased from 1.13 to 1.18 levels.
The total OI of the market is Rs. 3,11,152/- cr. and the
stock futures OI is Rs. 1,00,812/- cr.
Few of the liquid counters where we have seen high cost
of carry are TATACHEM, JPASSOCIAT, SOUTHBANK,
IFCI and ALBK.
Views
Yesterday, FIIs were net sellers in both cash market
OI Gainers
segment and index futures. They sold equities worth Rs.
OI
PRICE
601 crores. While, they net sellers in index futures with
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
some rise in open interest; indicating some fresh short
VGUARD
1638000
99.27
204.35
8.09
formation in previous trading session.
BERGEPAINT
519200
18.59
255.80
1.11
In index options, FIIs bought worth Rs. 1328 crores with
GSFC
5989500
18.52
143.15
6.47
good amount of rise in open interest. Now, if we look at
BHARATFORG
3911400
16.83
1123.05
-2.73
the options activity in Nifty, we could hardly trace any
MCX
782500
14.90
1162.35
-0.03
relevant activity in call options. On the flip side, 9300
CANFINHOME
284000
14.40
2858.85
1.47
continued adding huge open interest, shifting the base
BAJAJFINSV
222125
13.62
4596.15
0.18
higher. At current juncture,
9500 has highest
FORTIS
7711200
12.97
218.45
-1.82
concentration in call options, while, highest open interest
in put option is now at 9300 strike.
OI Losers
The benchmark index began yesterday’s session on a
OI
PRICE
positive note and steady inched higher in the latter half
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
after the consolidation seen in past four consecutive
ADANIPORTS
11997500
-10.55
339.60
3.27
sessions.
Clearly,
BankNifty outperformed the
HEXAWARE
2757000
-9.99
238.20
1.17
benchmark index in previous trade and added huge
CUMMINSIND
634800
-6.45
1064.75
0.32
amount of fresh longs. While, some long build-up was
BAJAJ-AUTO
938000
-5.18
2946.00
0.19
also visible in Nifty, which is certainly a positive
SBIN
65508000
-5.02
300.30
3.46
indication. We believe, 9250-9300 is an immediate
PIDILITIND
1891000
-5.02
739.55
0.74
support for market and one can utilize dips to add on
IGL
2098800
-4.86
1052.65
-0.64
fresh longs as we expect this momentum to continue in
POWERGRID
28120000
-4.68
211.00
-0.28
near term.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
PTC
41.03
NIFTY
1.18
1.18
DABUR
22.21
BANKNIFTY
2.17
0.97
CUMMINSIND
36.54
RELIANCE
0.40
0.37
CENTURYTEX
36.86
ICICIBANK
0.78
0.47
RAYMOND
62.94
SBIN
0.70
0.49
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Technical & Derivatives Report
May 05, 2017
FII Statistics for May 04, 2017
Turnover on May 04, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1572.72
2011.72
(439.00)
217103
15823.59
1.36
193098
15528.94
57.80
FUTURES
FUTURES
INDEX
INDEX
36666.98
35339.11
1327.87
769946
54833.93
5.26
7445668
651893.34
134.25
OPTIONS
OPTIONS
STOCK
7798.54
7321.61
476.93
1041146
69512.68
0.69
STOCK
FUTURES
722045
54063.70
8.09
FUTURES
STOCK
STOCK
5713.46
5673.72
39.74
47774
3461.69
12.04
445532
34168.43
17.86
OPTIONS
OPTIONS
TOTAL
51751.71
50346.16
1405.54
2075969
143631.89
2.65
TOTAL
8806343
755654.40
105.83
Nifty Spot = 9359.90
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9400
73.25
Buy
9300
62.40
39.70
60.30
9439.70
24.45
75.55
9275.55
Sell
9500
33.55
Sell
9200
37.95
Buy
9400
73.25
Buy
9300
62.40
60.85
139.15
9460.85
38.80
161.20
9261.20
Sell
9600
12.40
Sell
9100
23.60
Buy
9500
33.55
Buy
9200
37.95
21.15
78.85
9521.15
14.35
85.65
9185.65
Sell
9600
12.40
Sell
9100
23.60
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 05, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,592
1,608
1,620
1,636
1,648
ADANIPORTS
324
332
336
344
348
AMBUJACEM
238
241
243
246
248
ASIANPAINT
1,111
1,122
1,128
1,139
1,146
AUROPHARMA
573
582
591
601
609
AXISBANK
494
507
514
526
534
BAJAJ-AUTO
2,908
2,925
2,936
2,954
2,965
BANKBARODA
190
193
195
198
199
BPCL
710
721
731
742
752
BHARTIARTL
339
343
347
350
355
INFRATEL
357
360
363
366
369
BOSCHLTD
22,853
23,027
23,223
23,396
23,593
CIPLA
543
546
552
556
561
COALINDIA
278
279
280
282
283
DRREDDY
2,574
2,590
2,605
2,621
2,636
EICHERMOT
25,262
25,513
25,806
26,057
26,350
GAIL
419
424
427
432
436
GRASIM
1,144
1,174
1,191
1,221
1,238
HCLTECH
788
803
823
838
857
HDFCBANK
1,513
1,524
1,533
1,544
1,554
HDFC
1,538
1,551
1,569
1,583
1,601
HEROMOTOCO
3,339
3,367
3,386
3,414
3,432
HINDALCO
185
189
194
197
202
HINDUNILVR
924
940
950
967
976
IBULHSGFIN
1,034
1,055
1,093
1,114
1,151
ICICIBANK
278
288
294
304
310
IOC
428
432
438
442
448
INDUSINDBK
1,390
1,405
1,425
1,441
1,461
INFY
925
931
935
942
946
ITC
274
278
280
284
286
KOTAKBANK
890
898
908
915
926
LT
1,712
1,722
1,732
1,742
1,752
LUPIN
1,243
1,252
1,268
1,278
1,294
M&M
1,317
1,326
1,339
1,347
1,360
MARUTI
6,590
6,615
6,651
6,676
6,712
NTPC
162
162
163
163
164
ONGC
186
187
190
191
194
POWERGRID
207
209
211
213
215
RELIANCE
1,338
1,348
1,364
1,374
1,389
SBIN
290
295
297
302
304
SUNPHARMA
617
624
631
638
644
TCS
2,288
2,309
2,330
2,350
2,371
TATAMTRDVR
263
265
268
270
273
TATAMOTORS
427
432
440
445
453
TATAPOWER
81
82
83
84
84
TATASTEEL
430
436
442
448
454
TECHM
413
416
420
422
426
ULTRACEMCO
4,248
4,286
4,321
4,359
4,393
WIPRO
491
495
498
503
506
YESBANK
1,609
1,618
1,629
1,638
1,649
ZEEL
508
515
524
531
540
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Technical & Derivatives Report
May 05, 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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