Technical & Derivatives Report
February 08, 2018
Sensex (34083) / Nifty (10477)
Exhibit 1: Nifty Daily Chart
A volatile session on Tuesday was followed by a gap up opening
with a decent margin of more than 100 points in Nifty. This was
mainly on the back of smart recovery seen in US bourses after
taking a solid knock on the preceding day. However, the early
morning lead was very short lived as we saw index correcting
right from the word go. Eventually, the Nifty ended the session
with a marginal cut of 0.21% from its previous close.
Yesterday, despite being RBI Monetary policy day, we did not see
much volatility, in fact, due to expected outcome (status quo); the
Nifty continued its gradual move in the downward direction post
the event. Going ahead, 10528 - 10614 would be seen as
immediate hurdles and unless index doesn’t cross this wall, we
are likely to see some pressure in the market. A move beyond
10614 doesn’t change the near term trend; but, it would certainly
extend the bounce back towards 10730 - 10780 levels. On the
lower side, 10423 - 10347 remains to be intraday supports. We
reiterate that traders need to be very selective as the volatility is
likely to remain on the higher side and also with such global
issues; the opening direction is mainly dictated by the overnight
cues from the global markets. Hence, one should avoid taking
any kind of undue risks and should rather remain light on
positions. In fact, it would be a prudent ploy to stay light and
avoid making any kind of bottom fishing till the definite signals
emerge.
Key Levels
Support 1 - 10423
Resistance 1 - 10528
Support 2 - 10347
Resistance 2 - 10614
Nifty Bank Outlook - (25670)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index too opened higher in yesterday's session but
was unable to continue the positive momentum. The index
corrected in first couple of hours of trade and then consolidated
in the latter half of the session to end the day with a loss of 0.55
percent.
The Monetary Policy Committee kept the repo, reverse repo rates
unchanged which was much on expected lines and hence was
already factored in. Since the short-term trend for the index is
corrective in nature, we continue with our advice for traders to
remain light on positions. The intraday supports for the index are
placed around 25550 and 25450, whereas resistances are seen
around 26015 and 26240.
Key Levels
Support 1 - 25550
Resistance 1 - 26015
Support 2 - 25450
Resistance 2 - 26240
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Technical & Derivatives Report
February 08, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.51%
BankNifty futures open interest has increased by 7.91%
as market closed at 10476.70 levels.
The Nifty February future closed with a discount of 11.15
points against a premium of 15.05 points in last trading
session. The March series closed at a premium of 2.85
points.
The INDIA VIX has decreased from 20.01 to 19.46. At
the same time, the PCR-OI of Nifty has decreased from
1.13 to 1.01 level.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, ANDHRABANK, GAIL,
TATACOMM and PTC.
Views
FIIs were net sellers in cash market segment and index
OI Gainers
futures. They sold equities to the tune of Rs. 1023 crores.
OI
PRICE
While, they were net sellers in index futures of Rs. 1751
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
crores with some fall in open interest, indicating blend of
RAMCOCEM
653600
24.54
723.75
-0.32
long unwinding and fresh short formation in previous
VOLTAS
2584000
18.59
601.65
2.38
trading session.
DISHTV
55153000
11.89
75.20
1.48
On options front, they were net buyers of Rs. 583 crores
NTPC
27272000
10.31
165.10
1.44
with rise in OI. As far as Nifty options activities are
DALMIABHA
664800
10.25
2714.40
-0.77
concerned, build-up was scattered between
10500-
OIL
2855160
10.24
345.00
3.78
11200 call options and we believe these are mainly short
PCJEWELLER
8833500
9.77
381.20
-3.06
positions formed by FIIs. On the flip side, 10000 put
HAVELLS
5526000
9.64
504.35
-0.37
option continued adding massive positions. Now,
maximum open interest concentration is placed at 11500
call and 10000 put option.
OI Losers
Post budget, we have been consistently seeing good
OI
PRICE
SCRIP
OI
PRICE
amount of long unwinding as Nifty futures OI plunged
CHG. (%)
CHG. (%)
more than 10% in the initial 3-4 trading sessions of
BEL
25433100
-10.41
155.40
5.28
February series. Now, we are also witnessing fresh short
JISLJALEQS
37035000
-10.15
111.60
-2.28
formation in index futures. FIIs too have been unwinding
CHOLAFIN
669000
-8.61
1291.50
0.77
their longs and they also added fresh short positions in
TATAGLOBAL
27148500
-7.20
279.95
4.54
index futures; resulting their ‘Long Short Ratio’ declining
MUTHOOTFIN
2466000
-6.16
397.35
3.42
from 80% to 53%. In options front too, they bought index
PVR
529200
-4.89
1380.40
3.53
put options along with writing in index call options.
BHARATFIN
6478000
-4.38
1004.30
-0.56
Considering the quantum of profit booking, we would
MINDTREE
1826400
-4.28
718.85
-0.62
advise traders to lighten up their long as we may see
further pain going ahead with may bring index towards
10200 mark.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.01
0.76
CASTROLIND
30.57
BANKNIFTY
0.71
0.76
TORNTPHARM
29.28
RELIANCE
0.36
0.42
PEL
34.81
ITC
0.36
0.28
APOLLOTYRE
48.09
TATAMOTORS
0.42
0.41
TATAGLOBAL
44.88
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Technical & Derivatives Report
February 08, 2018
FII Statistics for February 07, 2018
Turnover on February 07, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3161.85
4912.93
(1751.08)
219729
17777.55
(2.54)
316231
27438.01
-48.16
FUTURES
FUTURES
INDEX
INDEX
103224.20
102637.86
586.33
1021883
83211.66
6.09
6514835
610672.33
-21.07
OPTIONS
OPTIONS
STOCK
12052.77
10810.53
1242.24
1081757
76265.99
1.72
STOCK
FUTURES
741008
53329.54
-24.01
FUTURES
STOCK
STOCK
6797.29
6914.19
(116.90)
98643
7153.01
6.30
465125
35517.81
-25.32
OPTIONS
OPTIONS
Total
125236.11
125275.51
(39.40)
2422012
184408.21
3.28
TOTAL
8037199
726957.69
-23.02
Nifty Spot = 10476.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10500
141.75
Buy
10400
132.50
43.70
56.30
10543.70
34.10
65.90
10365.90
Sell
10600
98.05
Sell
10300
98.40
Buy
10500
141.75
Buy
10400
132.50
78.00
122.00
10578.00
57.05
142.95
10342.95
Sell
10700
63.75
Sell
10200
75.45
Buy
10600
98.05
Buy
10300
98.40
34.30
65.70
10634.30
22.95
77.05
10277.05
Sell
10700
63.75
Sell
10200
75.45
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
February 08, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
398
403
409
413
419
AMBUJACEM
240
244
251
255
262
ASIANPAINT
1,099
1,110
1,118
1,129
1,136
AUROPHARMA
595
605
613
624
632
AXISBANK
545
552
563
571
582
BAJAJ-AUTO
3,080
3,108
3,153
3,181
3,226
BAJFINANCE
1,583
1,613
1,650
1,679
1,716
BPCL
463
469
476
482
488
BHARTIARTL
413
422
436
444
458
INFRATEL
325
332
343
350
361
BOSCHLTD
18,798
19,021
19,389
19,612
19,980
CIPLA
542
556
568
581
593
COALINDIA
287
292
296
301
305
DRREDDY
2,067
2,089
2,118
2,140
2,169
EICHERMOT
26,556
27,283
27,847
28,574
29,138
GAIL
445
453
459
467
473
HCLTECH
903
921
940
958
977
HDFCBANK
1,836
1,854
1,881
1,899
1,925
HDFC
1,747
1,766
1,786
1,806
1,826
HEROMOTOCO
3,499
3,533
3,576
3,610
3,654
HINDALCO
239
242
248
251
257
HINDPETRO
370
383
396
409
422
HINDUNILVR
1,294
1,303
1,317
1,326
1,340
IBULHSGFIN
1,216
1,245
1,286
1,315
1,355
ICICIBANK
326
330
333
336
339
IOC
400
402
406
409
412
INDUSINDBK
1,621
1,641
1,679
1,700
1,738
INFY
1,091
1,100
1,112
1,121
1,134
ITC
271
273
276
278
281
KOTAKBANK
1,020
1,028
1,039
1,047
1,058
LT
1,305
1,319
1,345
1,359
1,385
LUPIN
769
787
800
819
832
M&M
726
737
754
765
782
MARUTI
8,691
8,807
8,988
9,104
9,285
NTPC
156
161
164
168
171
ONGC
185
188
190
192
194
POWERGRID
192
194
195
197
199
RELIANCE
881
888
897
903
912
SBIN
286
289
294
297
301
SUNPHARMA
535
542
550
557
565
TCS
2,894
2,925
2,978
3,008
3,061
TATAMOTORS
369
374
379
384
390
TATASTEEL
642
652
667
677
692
TECHM
585
594
606
615
626
ULTRACEMCO
3,983
4,032
4,100
4,149
4,217
UPL
690
695
706
711
722
VEDANTA
301
309
320
327
338
WIPRO
282
286
292
296
302
YESBANK
322
328
336
341
349
ZEEL
567
574
580
587
593
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Technical & Derivatives Report
February 08, 2018
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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