Technical & Derivatives Report
May 08, 2017
Sensex (29859) / Nifty (9285)
Exhibit 1: Nifty Daily Chart
On Friday, the Nifty registered yet another record high at the
opening; but, it was merely a formality as we witnessed a good
broad-based selling pressure throughout the remaining part of
the day. In the week gone by, the Nifty resisted around the
penultimate week’s high of 9367 and corrected on the back of
some profit taking in the broader market. A corrective move post
the remarkable rally is a healthy sign for sustainability in the
longer run and hence, we do not consider this as a worrisome
factor.
At current juncture, the Nifty is trading around its strong support
of a ‘Horizontal Trend Line’, which coincides with the ‘89 EMA’
(placed around 9270) on hourly chart. The bias within this recent
consolidation phase remains positive as long as Nifty manages to
hold this key support. Only a move below this point would result
into some extended profit booking towards the next support of
9210, which is the ‘200 SMA’ level on hourly chart. However, for
directional traders, there would be no sign of worry as the overall
downside seems limited. Traders with a directional view should
look to create fresh longs in the vicinity of this strong support zone
i.e. 9270 - 9210. We continue to remain bullish on the market
and expect the index to gradually move towards 9400 first and
then to achieve the next milestone of 9600.
Key Levels
Support 1 - 9270
Resistance 1 - 9367
Support 2 - 9210
Resistance 2 - 9400
Nifty Bank Outlook - (22605)
Exhibit 2: Nifty Bank Daily Chart
On Friday's trading session too, the Nifty Bank index opened
higher with a gap. The PSU Bank index outperformed the broader
indices in the initial couple of hours of the session. However, post
noon the PSU Banking stocks witnessed profit booking which led
to a sharp decline in the stocks. Thus, the Nifty Bank erased the
gains and ended the session with a loss of 0.51 percent over its
previous session's close.
The corrective move within the banking stocks on Friday indicates
profit booking by the market participants post a swift up move
seen in last couple of weeks. Although there are no signs of trend
reversal in the Nifty Bank index, the near-term momentum hereon
could depend on how the index and its components trade in next
couple of trading sessions. The Nifty Bank index is expected to
trade in the broad range of 22180 - 22930 in short term. Traders
are hence advised to focus on stock specific moves and trade with
proper risk management. The intraday supports for the Nifty Bank
index are placed around 22450 and 22240 whereas resistances
are seen around 22795 and 22930.
Key Levels
Support 1 - 22450
Resistance 1 - 22795
Support 2 - 22240
Resistance 2 - 22930
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Technical & Derivatives Report
May 08, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 3.93%
BankNifty futures open interest has decreased by 3.48%
as market closed at 9285.30 levels.
The Nifty May future closed with a premium of 31.40
points against the premium of 17.05 points in last
trading session. The June series closed at a premium of
32.25 points.
The Implied Volatility of at the money options has
increased from 9.80% to 10.51%. At the same time, the
PCR-OI of Nifty has decreased from 1.18 to 1.11 levels.
The total OI of the market is Rs. 2,88,202/- cr. and the
stock futures OI is Rs. 99,382/- cr.
Few of the liquid counters where we have seen high cost
of carry are SOUTHBANK, CUMMINSIND, OIL,
CHOLAFIN and IBREALEST.
Views
On Friday, FIIs were net sellers in both cash market
segment and index futures. They sold equities worth Rs.
OI Gainers
364 crores. While, they were net sellers in index futures
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
worth Rs.
1088 crores with fall in open interest;
MRPL
2286000
28.61
127.50
-2.82
indicating good amount of long unwinding in previous
BAJAJFINSV
264875
19.25
4441.30
-3.37
trading session.
BERGEPAINT
618200
19.07
260.35
1.78
In index options, FIIs bought worth Rs. 1800 crores with
MCX
890500
13.80
1127.00
-3.04
good amount of rise in open interest. As far as Nifty’s
EQUITAS
10960000
11.85
160.60
-2.40
options activity is concerned, 9400 call option attracted
GODFRYPHLP
266500
10.58
1202.70
-2.49
huge positions; resulted into shifting of highest open
IBREALEST
23200000
9.33
152.80
-2.43
interest from 9500 to 9400 strike. On the flip side, we
HINDALCO
40467000
8.49
186.60
-3.54
hardly saw any meaningful open interest addition in
puts; however, decent amount of unwinding was visible
in 9100-9300 strike. In put option highest concentration
OI Losers
remains intact at 9300 strike.
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Last week, the Nifty traded in a narrow range and
ADANIPORTS
9715000
-19.02
345.10
1.62
concluded the week with minor loss on back of some
PIDILITIND
1702000
-9.99
739.90
0.05
profit booking at higher levels. FIIs too booked profit in
CANBK
13874916
-9.77
386.10
0.16
their longs formed in index future and also initiate some
KSCL
2410500
-9.57
562.80
1.27
short positions, though quantum is low. At current
AMBUJACEM
18570000
-9.00
247.85
1.06
juncture, 9250-9300 is an important support for market
PCJEWELLER
1315500
-8.07
431.85
0.41
and unless we don’t see any meaningful shorting from
FIIs desk, traders are suggested to avoid shorting index
INDIANB
2312000
-7.96
337.50
-3.49
and prefer shock specific approach.
HEXAWARE
2544000
-7.73
239.50
0.55
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TATACOMM
49.28
NIFTY
1.11
0.92
WOCKPHARMA
36.02
BANKNIFTY
1.18
0.91
COLPAL
21.74
RELIANCE
0.38
0.37
TATACHEM
31.48
ICICIBANK
0.81
0.61
TATAMOTORS
32.11
SBIN
0.65
0.62
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Technical & Derivatives Report
May 08, 2017
FII Statistics for May 05, 2017
Turnover on May 05, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1435.72
2524.19
(1088.47)
209786
15236.13
(3.37)
217768
17101.76
10.13
FUTURES
FUTURES
INDEX
INDEX
39387.55
37587.29
1800.26
810102
57506.74
5.22
3434983
279003.34
-57.20
OPTIONS
OPTIONS
STOCK
9104.78
9575.21
(470.43)
1048480
69189.90
0.70
STOCK
FUTURES
838586
64287.08
18.91
FUTURES
STOCK
STOCK
7953.64
8058.83
(105.19)
56643
4016.69
18.56
519270
40891.89
19.68
OPTIONS
OPTIONS
TOTAL
57881.69
57745.52
136.17
2125011
145949.46
2.36
TOTAL
5010607
401284.07
-46.90
Nifty Spot = 9285.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9300
99.40
Buy
9300
85.60
49.40
50.60
9349.40
32.65
67.35
9267.35
Sell
9400
50.00
Sell
9200
52.95
Buy
9300
99.40
Buy
9300
85.60
78.30
121.70
9378.30
53.20
146.80
9246.80
Sell
9500
21.10
Sell
9100
32.40
Buy
9400
50.00
Buy
9200
52.95
28.90
71.10
9428.90
20.55
79.45
9179.45
Sell
9500
21.10
Sell
9100
32.40
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 08, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,588
1,624
1,647
1,683
1,706
ADANIPORTS
332
339
343
349
353
AMBUJACEM
237
242
245
250
253
ASIANPAINT
1,121
1,134
1,147
1,160
1,173
AUROPHARMA
570
580
593
602
615
AXISBANK
490
497
510
517
530
BAJAJ-AUTO
2,845
2,866
2,903
2,924
2,961
BANKBARODA
173
180
191
199
210
BPCL
705
715
730
740
755
BHARTIARTL
340
342
346
348
351
INFRATEL
354
360
365
372
377
BOSCHLTD
22,678
23,066
23,408
23,795
24,138
CIPLA
539
545
550
555
560
COALINDIA
274
276
280
283
287
DRREDDY
2,576
2,590
2,607
2,621
2,638
EICHERMOT
25,260
25,547
25,848
26,135
26,437
GAIL
405
412
420
427
436
GRASIM
1,162
1,177
1,197
1,213
1,233
HCLTECH
808
819
825
836
843
HDFCBANK
1,517
1,525
1,534
1,541
1,550
HDFC
1,523
1,535
1,553
1,564
1,582
HEROMOTOCO
3,317
3,347
3,380
3,410
3,443
HINDALCO
178
182
187
191
196
HINDUNILVR
944
949
954
959
964
IBULHSGFIN
1,056
1,081
1,096
1,121
1,136
ICICIBANK
291
295
298
302
306
IOC
421
427
436
442
451
INDUSINDBK
1,388
1,398
1,414
1,424
1,440
INFY
912
922
930
939
947
ITC
274
275
278
280
283
KOTAKBANK
895
902
907
913
919
LT
1,692
1,708
1,720
1,736
1,747
LUPIN
1,236
1,244
1,258
1,267
1,281
M&M
1,296
1,309
1,320
1,333
1,344
MARUTI
6,570
6,612
6,644
6,686
6,719
NTPC
158
159
161
162
163
ONGC
179
181
185
188
191
POWERGRID
205
207
210
211
214
RELIANCE
1,298
1,313
1,340
1,355
1,383
SBIN
285
290
298
303
310
SUNPHARMA
619
625
631
637
643
TCS
2,289
2,305
2,319
2,335
2,349
TATAMTRDVR
250
255
262
266
273
TATAMOTORS
406
413
425
431
443
TATAPOWER
82
83
83
84
85
TATASTEEL
421
427
434
441
448
TECHM
405
409
414
418
423
ULTRACEMCO
4,259
4,295
4,319
4,354
4,378
WIPRO
494
497
499
501
504
YESBANK
1,588
1,598
1,615
1,625
1,641
ZEEL
492
499
511
518
530
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Technical & Derivatives Report
May 08, 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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