Technical & Derivatives Report
April 07, 2017
Sensex (29927) / Nifty (9262)
Exhibit 1: Nifty Daily Chart
Our markets opened lower as most of the global bourses turned
apprehensive after US Fed releasing their March minutes.
However, looking at yesterday’s price action, it appears that our
markets are focusing more on domestic front instead of global
events. After consolidating around market lows for some time, our
markets managed to recover post the RBI monetary policy in the
concluding hour to end the session with negligible loss.
Technically speaking, we witnessed some indecision in the market
as the daily chart depicted a ‘Dragonfly Doji’ pattern at the end of
yesterday’s session. However, on the other hand, we had
expected 9230 - 9200 to act as a strong support and suggested
to use dips to create long positions in the market. In-line with our
expectations, the Nifty recovered after posting a low of 9218.85.
This is clear sign of a strong up trend and hence, we would like to
stay with the flow rather than taking a contradictory bet. As far
levels are concerned, 9230 - 9200 remains to be a strong
support and on the flipside, we would expect continuation of this
up move towards 9400 - 9600 (price extension of previous up
move from recent low of 7893.80) over the next few weeks. It is to
be noted that the prudent strategy at this juncture would be to
focus on individual stocks in order to fetch higher returns.
Key Levels
Support 1 - 9230
Resistance 1 - 9300
Support 2 - 9200
Resistance 2 - 9340
Nifty Bank Outlook - (21623)
Exhibit 2: Nifty Bank Daily Chart
Awaiting the outcome of the RBI policy, the Nifty Bank index
traded in a narrow range in yesterday's session till 2.30 p.m.
Although the index showed some volatility on the announcement
retaining the repo rate at 6.2, the index formed a small body
candle on the daily chart. The index ended the session with a
marginal loss of 0.14 percent.
Inspite of the event, the index has not formed any reversal pattern
which indicates higher probability of the continuation of the
uptrend. Hence, we advise traders to continue to trade with
positive bias. The intraday supports for the Nifty Bank index are
placed around 21408 and 21337 whereas resistances are seen
around 21793 and 21918.
Key Levels
Support 1 - 21408
Resistance 1 - 21793
Support 2 - 21337
Resistance 2 - 21918
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Technical & Derivatives Report
April 07, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 2.82%
BankNifty futures open interest has increased by 4.64%
as market closed at 9261.95 levels.
The Nifty April future closed with a premium of 10.30
points against the premium of 21.40 points in last
trading session. The May series closed at a premium of
33.35 points.
The Implied Volatility of at the money options has
decreased from 10.13% to 9.83%. At the same time, the
PCR-OI of Nifty has increased from 1.06 to 1.08 levels.
The total OI of the market is Rs. 3,01,417/- cr. and the
stock futures OI is Rs. 99,133/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, MFSL, EXIDEIND,
SOUTHBANK and TV18BRDCST.
Views
OI Gainers
FIIs were net buyers in cash market segment; they bought
OI
PRICE
SCRIP
OI
PRICE
equities worth Rs. 143 crores. While, in index futures they
CHG. (%)
CHG. (%)
MUTHOOTFIN
1104000
33.58
381.85
-4.15
were net sellers to the tune of Rs. 928 crores with fall in
UJJIVAN
5098800
31.06
395.15
-3.47
open interest, suggesting long unwinding took place in
previous trading session.
MFSL
3122000
20.87
606.50
1.32
In index options, FIIs were net buyers with decent amount
EQUITAS
6467200
15.35
168.95
-1.03
of rise in open interest. Yesterday, except for some
DLF
36215000
12.96
157.20
4.42
build-up in 9300 call and 9100 put option, we hardly
PCJEWELLER
1162500
12.81
437.05
-0.72
saw any other strike prices adding relevant positions.
RDEL
8739000
12.00
69.15
2.37
Highest open interest in April series is placed at 9500
BHARATFIN
22599000
11.77
777.20
-2.98
call and 9000 put option.
Yesterday, market recovered its intra-day losses as
OI Losers
Monitory policy Committee (MPC) kept repo rate
OI
PRICE
SCRIP
OI
PRICE
unchanged. OMC’s and Cement sector were the major
CHG. (%)
CHG. (%)
contributors in this recovery. FIIs continued pouring
BHEL
29410000
-10.87
179.25
4.40
liquidity in equities segment. While, in index futures we
CEATLTD
1799700
-9.66
1381.80
2.96
saw some profit booking; however, huge long positions
TITAN
5322000
-9.21
489.95
-0.56
formed in last four successive series are still intact. At
IBREALEST
34520000
-7.50
91.35
0.50
current juncture, the earlier resistance of 9150-9200 is
ADANIPORTS
12195000
-6.21
357.30
-0.33
now likely to act as a support for market. Thus, we
GODREJIND
2059500
-5.83
539.45
0.34
continue to maintain our positive stance and would
NTPC
21928000
-5.45
167.80
0.60
suggest traders to use declines to add fresh longs.
LICHSGFIN
5097400
-5.22
625.55
-0.24
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CONCOR
26.33
NIFTY
1.08
0.94
BHEL
38.76
BANKNIFTY
0.98
0.79
JUBLFOOD
32.55
RELIANCE
0.85
0.58
JINDALSTEL
60.16
SBIN
0.65
0.70
IDFC
30.86
ICICIBANK
0.55
0.55
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Technical & Derivatives Report
April 07, 2017
FII Statistics for April 06, 2017
Turnover on April 06, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
988.54
1916.33
(927.80)
314189
22523.11
(1.65)
189103
14455.73
21.58
FUTURES
FUTURES
INDEX
INDEX
29613.18
29313.02
300.16
795038
56010.19
1.95
6585918
549152.87
103.09
OPTIONS
OPTIONS
STOCK
6559.17
6727.23
(168.06)
1191750
81620.05
(0.57)
STOCK
FUTURES
623210
47662.15
3.15
FUTURES
STOCK
STOCK
5806.66
5628.94
177.71
60250
4584.77
17.67
366666
28776.69
1.91
OPTIONS
OPTIONS
TOTAL
42967.55
43585.53
(617.98)
2361227
164738.12
0.51
TOTAL
7764897
640047.44
79.42
Nifty Spot = 9261.95
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9300
73.50
Buy
9200
61.65
39.55
60.45
9339.55
24.40
75.60
9175.60
Sell
9400
33.95
Sell
9100
37.25
Buy
9300
73.50
Buy
9200
61.65
61.05
138.95
9361.05
39.50
160.50
9160.50
Sell
9500
12.45
Sell
9000
22.15
Buy
9400
33.95
Buy
9100
37.25
21.50
78.50
9421.50
15.10
84.90
9084.90
Sell
9500
12.45
Sell
9000
22.15
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 07, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,445
1,467
1,481
1,504
1,517
ADANIPORTS
348
352
355
360
363
AMBUJACEM
233
238
242
247
251
ASIANPAINT
1,065
1,076
1,082
1,093
1,100
AUROPHARMA
664
667
671
674
678
AXISBANK
498
503
511
516
523
BAJAJ-AUTO
2,767
2,787
2,801
2,821
2,835
BANKBARODA
171
173
175
177
179
BHEL
627
637
642
652
657
BPCL
335
339
341
344
346
BHARTIARTL
320
329
335
345
350
INFRATEL
22,560
22,729
22,839
23,007
23,117
BOSCH
584
587
590
594
597
CIPLA
283
285
287
289
291
COALINDIA
2,684
2,701
2,725
2,742
2,765
DRREDDY
25,186
25,391
25,571
25,776
25,955
EICHERMOT
377
382
385
390
393
GAIL
1,051
1,060
1,067
1,076
1,083
GRASIM
843
848
852
858
862
HCLTECH
1,418
1,428
1,436
1,446
1,453
HDFCBANK
1,458
1,470
1,480
1,492
1,502
HDFC
3,156
3,181
3,200
3,226
3,245
HEROMOTOCO
189
191
194
197
199
HINDALCO
915
925
931
940
946
HINDUNILVR
953
965
977
988
1,000
ICICIBANK
277
279
281
283
286
IDEA
377
381
384
389
391
INDUSINDBK
1,385
1,404
1,415
1,433
1,444
INFY
985
992
999
1,006
1,013
ITC
270
272
275
278
281
KOTAKBANK
878
886
892
900
906
LT
1,652
1,667
1,685
1,701
1,718
LUPIN
1,431
1,440
1,448
1,457
1,466
M&M
1,267
1,278
1,286
1,297
1,305
MARUTI
6,220
6,256
6,296
6,332
6,372
NTPC
164
166
167
169
170
ONGC
184
186
187
189
190
POWERGRID
191
194
196
199
201
RELIANCE
1,383
1,411
1,430
1,458
1,477
SBIN
288
290
294
296
300
SUNPHARMA
678
682
688
692
697
TCS
2,383
2,392
2,401
2,409
2,418
TATAMTRDVR
280
283
285
288
290
TATAMOTORS
466
470
474
478
482
TATAPOWER
86
87
87
88
89
TATASTEEL
476
489
497
509
517
TECHM
438
443
446
450
453
ULTRACEMCO
3,984
4,048
4,098
4,162
4,212
WIPRO
503
509
512
518
521
YESBANK
1,546
1,555
1,565
1,575
1,585
ZEEL
533
543
549
559
565
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Technical & Derivatives Report
April 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]
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