Technical & Derivatives Report
March 07, 2017
Sensex (29048) / Nifty (8963)
Exhibit 1: Nifty Daily Chart
We had a great start for the new trading week as most of the
emerging markets were quite cheerful after US Dollar Index
maintaining its position below the
102 mark. In fact, the
momentum kept on accelerating as the day progressed and due
to such sustained buying, the Nifty closed with third quarter of a
percent gains. Clearly, the heavyweight counters ‘Reliance
Industries’ has been the eye-catcher since last few days and has
extended its multi-year rally by nearly four percent during the
session.
If we refer to our earlier articles, despite intra-week corrections,
we stuck to our ‘Buy on dips’ strategy and used these declines to
advise fresh longs in the market. The market seems to have
obliged this move as we witnessed a decent recovery in last two
days after retesting the mentioned support level of 8867. We
would continue to remain upbeat in market and expect the index
to hit new all-time high soon. For the coming session, 8993
would be seen as immediate hurdle; but we expect it to be
surpassed in coming days. On the flipside, 8914 - 8860 remains
to be a strong support zone.
Key Levels
Support 1 - 8914
Resistance 1 - 8993
Support 2 - 8860
Resistance 2 - 9050
Nifty Bank Outlook - (20664)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened on a flat note yesterday and traded
with a positive bias throughout the session. At closing, the index
posted gains of 0.82 percent over its previous session's close.
Although the Nifty Bank index continues to trade in the broader
range, the index is trading near its support within the range. Since
the first week of January 2017, prices have not breached the '20
DEMA' which is now placed around 20396. As the index traded
near the support, we witnessed pullback in the index as well as its
constituents yesterday. This indicates that the broader uptrend is
still intact and hence, the index provides a good risk reward ratio
to enter into fresh long positions. Thus, we advised traders to
continue to trade with positive bias till the index trades above the
mentioned average on a closing basis. The near-term supports
for the Nifty Bank index are placed around 20464 and 20396
whereas resistances are seen around 20905 and 21010.
Key Levels
Support 1 - 20464
Resistance 1 - 20905
Support 2 - 20396
Resistance 2 - 21010
www.angelbroking.com
Technical & Derivatives Report
March 07, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.83%
BankNifty futures open interest has increased by 0.06%
as market closed at 8963.45 levels.
The Nifty March future closed with a premium of 15.70
points against the premium of 25.25 points in last
trading session. The April series closed at a premium of
41.40 points.
The Implied Volatility of at the money options has
increased from 12.13% to 12.61%. 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. 2,80,875/- cr. and the
stock futures OI is Rs. 88,502/- cr.
Few of the liquid counters where we have seen high cost
of carry are SOUTHBANK, GMRINFRA, RPOWER,
TV18BRDCST and GRANULES.
Views
OI Gainers
FIIs continue their buying streak in cash market segment,
OI
PRICE
they bought equities to the tune of Rs. 564 crores. While,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
in index futures they were net sellers of worth Rs. 327
GAIL
21112500
22.97
516.10
0.07
crores with some rise in open interest, suggesting some
VOLTAS
5434000
19.38
383.55
3.24
short formation in previous trading session.
GODREJIND
1314000
12.60
487.70
-0.77
In index options, FIIs were sellers of Rs. 697 crores with
SOUTHBANK
75064365
11.74
20.45
-0.24
rise in open interest. Yesterday, we hardly saw any strikes
TORNTPHARM
247600
11.53
1377.40
2.09
adding meaningful build-up in both call and put options.
TORNTPOWER
4752000
11.47
201.70
-0.27
However, 9300 & 9200 call and 9000 put options were
OIL
2272798
11.32
340.50
1.70
comparatively active and they added some fresh
BHARATFORG
3568200
10.93
1075.30
2.56
positions too. Highest open interest in March series is
placed at 9000 call and 8800 put option.
OI Losers
Yesterday, market continued it’s up move and closed
OI
PRICE
with 0.74% gains. FIIs too participated in this move by
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
buying in equities. However, they remained net sellers in
DCBBANK
4126500
-6.43
155.65
-0.06
index futures but the quantum wasn’t significant. Despite,
ICIL
3710000
-6.19
169.80
3.60
we witnessed some consolidation last week; we didn’t
LICHSGFIN
8580000
-5.27
567.55
1.93
observe any relevant profit booking by stronger hand,
HINDALCO
45654000
-4.75
200.10
0.58
hinting that longs formed in past few series are still
ADANIPORTS
12027500
-3.97
303.55
2.21
intact. Thus, looking at the above data, we continue to
TATAMOTORS
38620500
-3.84
473.35
2.37
remain optimistic on market. Thus, are suggested to
HEROMOTOCO
1255400
-3.76
3278.00
1.22
trade with positive bias unless we see any changes in
JINDALSTEL
41436000
-3.58
126.45
-0.32
data.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ASHOKLEY
36.16
NIFTY
0.98
0.79
BAJAJ-AUTO
20.09
BANKNIFTY
0.74
0.85
VOLTAS
37.30
RELIANCE
0.97
0.50
BEL
27.31
SBIN
0.45
0.36
ARVIND
31.00
ICICIBANK
0.51
0.35
www.angelbroking.com
Technical & Derivatives Report
March 07, 2017
FII Statistics for March 06, 2017
Turnover on March 06, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1054.96
1381.87
(326.91)
275174
18964.67
0.89
161778
11830.03
-3.91
FUTURES
FUTURES
INDEX
INDEX
30641.50
31338.09
(696.59)
871906
59530.19
1.84
2852241
218606.28
29.35
OPTIONS
OPTIONS
STOCK
6248.39
6442.64
(194.25)
986163
66804.58
0.70
STOCK
FUTURES
506203
36400.98
-5.55
FUTURES
STOCK
STOCK
3407.40
3342.55
64.85
75541
5299.27
7.52
314556
22779.67
3.14
OPTIONS
OPTIONS
TOTAL
41352.25
42505.15
(1152.90)
2208784
150598.71
1.39
TOTAL
3834778
289616.95
19.71
Nifty Spot = 8963.45
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9000
106.00
Buy
8900
85.25
42.20
57.80
9042.20
29.30
70.70
8870.70
Sell
9100
63.80
Sell
8800
55.95
Buy
9000
106.00
Buy
8900
85.25
70.65
129.35
9070.65
49.40
150.60
8850.60
Sell
9200
35.35
Sell
8700
35.85
Buy
9100
63.80
Buy
8800
55.95
28.45
71.55
9128.45
20.10
79.90
8779.90
Sell
9200
35.35
Sell
8700
35.85
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
March 07, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,378
1,386
1,396
1,404
1,415
ADANIPORTS
293
298
302
307
310
AMBUJACEM
223
224
226
227
228
ASIANPAINT
1,009
1,019
1,026
1,037
1,044
AUROPHARMA
657
663
670
676
683
AXISBANK
509
514
517
522
526
BAJAJ-AUTO
2,821
2,852
2,874
2,905
2,927
BANKBARODA
159
160
161
162
163
BHEL
157
159
161
163
164
BPCL
627
632
638
643
649
BHARTIARTL
354
358
361
365
368
INFRATEL
303
306
310
313
317
BOSCH
20,862
21,114
21,331
21,583
21,801
CIPLA
584
587
591
594
598
COALINDIA
317
320
324
327
331
DRREDDY
2,832
2,845
2,865
2,878
2,898
EICHERMOT
22,620
22,841
23,220
23,441
23,820
GAIL
513
518
522
526
530
GRASIM
978
991
1,010
1,023
1,042
HCLTECH
835
845
856
867
878
HDFCBANK
1,364
1,373
1,381
1,389
1,398
HDFC
1,344
1,355
1,373
1,384
1,403
HEROMOTOCO
3,249
3,285
3,308
3,344
3,367
HINDALCO
193
197
199
202
205
HINDUNILVR
857
865
874
882
891
ICICIBANK
273
275
277
279
281
IDEA
105
108
110
112
114
INDUSINDBK
1,292
1,306
1,318
1,331
1,343
INFY
1,014
1,024
1,030
1,040
1,046
ITC
260
262
264
266
267
KOTAKBANK
806
813
817
824
829
LT
1,460
1,473
1,481
1,494
1,502
LUPIN
1,464
1,471
1,477
1,483
1,489
M&M
1,306
1,318
1,328
1,340
1,351
MARUTI
5,878
5,906
5,941
5,969
6,003
NTPC
155
157
158
160
161
ONGC
192
193
194
195
196
POWERGRID
189
191
194
196
199
RELIANCE
1,247
1,276
1,294
1,323
1,341
SBIN
265
267
269
271
273
SUNPHARMA
671
677
681
687
690
TCS
2,441
2,457
2,470
2,486
2,500
TATAMTRDVR
277
280
282
285
287
TATAMOTORS
458
464
469
475
479
TATAPOWER
82
82
82
83
83
TATASTEEL
484
488
495
499
505
TECHM
489
494
500
506
511
ULTRACEMCO
3,775
3,799
3,815
3,839
3,855
WIPRO
487
489
491
494
495
YESBANK
1,427
1,444
1,455
1,472
1,482
ZEEL
491
499
504
512
517
www.angelbroking.com
Technical & Derivatives Report
March 07, 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