Technical & Derivatives Report
May 07, 2018
Sensex (34915) / Nifty (10618)
Exhibit 1: Nifty Daily Chart
On Friday, Nifty witnessed a flat opening and witnessed a
gradual decline throughout the session to end with a loss of more
than half a percent tad above 10600 levels.
Finally the five weeks' winning streak came to end and it was very
much on cards after hastening towards 10800. We have been
quite vocal about the possibility of some profit booking taking
place after entering the10750 - 10800. However, the velocity at
which few counters took it on the chin was slightly surprising to
us. Now, index is trading around its recent breakout points and
hence, a possibility of some bounce back towards 10700 -
10720 cannot be ruled out. Considering the multiple Fibonacci
ratios in the zone of 10700 - 10800, we are still a bit unsure
whether market has enough strength to surpass
10800
convincingly in the same run. Hence, one need to keep booking
timely profits and should ideally avoid taking undue risks.
Meanwhile, if it keeps gyrating in the mentioned range of 10600
- 10800, the ideal strategy would be to concentrate on individual
stocks.
Going ahead, 10530 - 10500 would be seen as a make or
break support zone. Any sustainable move below this crucial
junction would reverse the short term tide and in that case, lower
levels can be expected in the near term. Hence, going ahead,
traders needs to very agile now and it’s advisable to keep a close
eye on all these key points we have just alluded in the above
section.
Key Levels
Support 1 - 10600
Resistance 1 - 10700
Support 2 - 10530
Resistance 2 - 10720
Nifty Bank Outlook - (25645)
Exhibit 2: Nifty Bank Daily Chart
Although the Nifty Bank index started last week with a gap up
opening, the index traded in a narrow range throughout the week
and registered weekly gains of a percent over its previous week's
close.
If we compare the Nifty Bank index with Nifty or the broader
markets, it has shown relative outperformance during last week
as the broader markets have seen some correction. The index has
consolidated in the range of 25440-25725 and next directional
move could depend upon a breakout beyond this range. Hence,
traders are advised to trade in the direction of the breakout. The
intraday supports for the index are placed around 25535 and
25440 whereas resistances are seen around 25725 and 25810.
Key Levels
Support 1 - 25535
Resistance 1 - 25725
Support 2 - 25440
Resistance 2 - 25810
www.angelbroking.com
Technical & Derivatives Report
May 07, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.29%
BankNifty futures open interest has decreased by 0.02%
as market closed at 10618.25 levels.
The Nifty May future closed with a premium of 40.50
points against a premium of 26.85 points in last trading
session. The June series closed at a premium of 51.25
points.
The INDIA VIX has increased from 12.98 to 13.25. At the
same time, the PCR-OI of Nifty has decreased from 1.50
to 1.49 level.
Few of the liquid counters where we have seen high cost
of carry are RNAVAL, GODFRYPHLP, TV18BRDCST,
BHARATFORG and IDFCBANK.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 1627 crores. At the same time, they sold worth
CHG. (%)
CHG. (%)
HEXAWARE
6997500
50.97
387.90
-13.35
Rs. 493 crores in index futures with rise in open interest,
NIITTECH
3103500
39.05
1028.20
-2.94
indicating they added fresh short positions on Friday’s
trading session.
ICICIPRULI
7430800
36.78
434.05
2.11
In index options front, they were buyers of Rs. 1116
HCC
48603000
15.19
18.35
5.70
crores with rise in open interest. In call options, except for
IGL
7229750
11.35
271.50
0.31
some build-up in 10700 strike price, we hardly saw any
CHOLAFIN
727000
10.82
1642.65
-1.47
relevant activity. On the flip side, 10300-10500 put
UBL
854000
8.54
1128.40
-0.30
option added some fresh positions. Maximum OI
OIL
3048903
7.17
221.05
-3.51
concentration remains intact in 11000 call and 10500
put options.
OI Losers
The benchmark Nifty rallied towards the resistance zone
of 10750-10800 mark; but due to profit booking at
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
higher levels failed to hold on the momentum.
GLENMARK
5703400
-23.55
535.30
-1.38
Eventually, index concluded the first week of May series
ORIENTBANK
16296000
-21.85
88.35
-0.34
with a cut of 0.61%. In index futures front, we hardly saw
PCJEWELLER
12141000
-19.85
174.65
44.19
any relevant open interest activity. However, FIIs formed
JUSTDIAL
4496800
-14.37
435.75
9.51
mixed positions in index futures along with shorting in
MARICO
6518200
-8.00
316.85
1.93
stock futures. At present, the earlier resistance of 10600-
VGUARD
2556000
-6.78
237.90
1.42
10630 should now act as a support for market. At
APOLLOHOSP
728000
-6.67
1101.40
2.78
present, traders are advised to remain light in index
CENTURYTEX
6529050
-5.05
1113.25
2.57
unless it remains in the range of 10600-10800 levels
and focus on individual counters for near term.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HEXAWARE
83.91
NIFTY
1.49
0.94
CASTROLIND
42.32
BANKNIFTY
1.32
1.03
PCJEWELLER
270.40
INFY
0.68
0.50
JUSTDIAL
90.39
ICICIBANK
1.00
0.58
AJANTPHARM
42.60
TATAMOTORS
0.53
0.35
www.angelbroking.com
Technical & Derivatives Report
May 07, 2018
FII Statistics for May 04, 2018
Turnover on May 04, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1510.09
2003.10
(493.01)
166303
14050.38
4.26
148314
13133.33
-14.62
FUTURES
FUTURES
INDEX
INDEX
41059.22
39942.85
1116.37
747086
61422.43
3.32
2909603
273324.22
-74.59
OPTIONS
OPTIONS
STOCK
8655.97
8911.25
(255.28)
1160696
80893.70
1.32
STOCK
FUTURES
731724
47867.94
-11.46
FUTURES
STOCK
STOCK
5107.03
5062.17
44.86
86436
6064.23
7.73
485911
33280.96
-8.20
OPTIONS
OPTIONS
Total
56332.30
55919.36
412.95
2160521
162430.74
2.48
TOTAL
4275552
367606.45
-68.88
Nifty Spot = 10618.25
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10600
172.75
Buy
10600
114.85
55.40
44.60
10655.40
33.05
66.95
10566.95
Sell
10700
117.35
Sell
10500
81.80
Buy
10600
172.75
Buy
10600
114.85
100.25
99.75
10700.25
56.85
143.15
10543.15
Sell
10800
72.50
Sell
10400
58.00
Buy
10700
117.35
Buy
10500
81.80
44.85
55.15
10744.85
23.80
76.20
10476.20
Sell
10800
72.50
Sell
10400
58.00
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 07, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
385
397
403
415
421
ASIANPAINT
1,160
1,175
1,194
1,209
1,227
AXISBANK
510
515
524
530
539
BAJAJ-AUTO
2,819
2,854
2,920
2,955
3,021
BAJFINANCE
1,826
1,842
1,867
1,883
1,909
BAJAJFINSV
5,258
5,303
5,363
5,408
5,468
BPCL
367
374
379
385
390
BHARTIARTL
379
388
403
412
427
INFRATEL
316
319
322
325
328
CIPLA
585
591
602
608
619
COALINDIA
266
269
273
276
280
DRREDDY
2,069
2,088
2,117
2,135
2,164
EICHERMOT
28,536
28,872
29,486
29,822
30,436
GAIL
317
323
328
334
338
GRASIM
1,058
1,066
1,077
1,086
1,097
HCLTECH
891
910
927
947
963
HDFCBANK
1,958
1,973
1,982
1,997
2,005
HDFC
1,887
1,898
1,916
1,928
1,946
HEROMOTOCO
3,631
3,645
3,658
3,672
3,684
HINDALCO
225
228
230
234
236
HINDPETRO
285
290
294
299
303
HINDUNILVR
1,438
1,451
1,461
1,474
1,484
IBULHSGFIN
1,208
1,229
1,259
1,279
1,309
ICICIBANK
275
279
282
286
290
IOC
159
160
161
163
164
INDUSINDBK
1,859
1,875
1,886
1,903
1,914
INFY
1,140
1,157
1,171
1,188
1,202
ITC
269
273
280
284
291
KOTAKBANK
1,203
1,218
1,229
1,244
1,255
LT
1,348
1,358
1,372
1,383
1,397
LUPIN
780
788
796
804
813
M&M
842
848
858
864
875
MARUTI
8,586
8,632
8,711
8,757
8,836
NTPC
168
170
172
173
176
ONGC
176
178
182
184
187
POWERGRID
203
205
207
209
210
RELIANCE
942
948
956
962
971
SBIN
239
240
242
244
246
SUNPHARMA
506
512
522
529
539
TCS
3,456
3,468
3,483
3,495
3,510
TATAMOTORS
326
330
334
338
342
TATASTEEL
573
577
583
587
594
TECHM
626
644
655
673
684
TITAN
945
952
959
965
972
ULTRACEMCO
3,919
3,952
3,993
4,027
4,068
UPL
694
699
705
710
717
VEDANTA
272
277
284
289
295
WIPRO
260
265
269
274
277
YESBANK
335
340
349
354
363
ZEEL
576
581
591
596
605
www.angelbroking.com
Technical & Derivatives Report
May 07, 2018
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 and Investment Adviser 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 c*ompany 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