Technical & Derivatives Report
November 08, 2017
Sensex (33371) / Nifty (10350)
Exhibit 1: Nifty Daily Chart
Since last couple of days, our markets have been taking cues
from ‘Hang Seng’ (Hong Kong) index and as indicated, the
Nifty made a positive start for the day. However, the index
remained under pressure throughout the remaining part to
end the session with nearly a percent cut.
With reference to previous article, we stated key resistance
zone of 10482 - 10500 for the index and since, it’s a 161%
(Golden Ratio) reciprocal retracement of the recent down
move, we considered it as an important hurdle in the near
term. As expected, the index saw some profit booking and
hence, witnessed a decent decline to close at the 10350 mark.
This level coincides with the hourly ’89 EMA’ and hence, we
saw some respite after reaching this strong intraday support.
Now, looking at yesterday’s close below the ‘5-day EMA’, we
expect the index to extend this weakness towards 10310 -
10260 levels over the next few days. Yes, you may see some
bounce back in between; but, any up move towards 10400 -
10430 is likely to get sold into.
We have been suggesting remaining light on positions and
now, we continue to advise the same as the index may see
some higher volatility going ahead.
Key Levels
Support 1 - 10310
Resistance 1 - 10400
Support 2 - 10260
Resistance 2 - 10430
Nifty Bank Outlook - (25301)
Exhibit 2: Nifty Bank Daily Chart
Along with the broader market, the Nifty Bank index too
corrected in yesterday's session and ended the day with loss of
over a percent.
In our yesterday's report, we had highlighted about the
probability of a consolidation phase and had hence advised
traders to book profits on existing long positions. Traders
should hereon focus on stock specific moves as there would be
trading opportunities on both sides of the trade in near term.
Also, owing to the increased volatility in stocks, traders should
strictly follow the risk management principles. In today's
session, the earlier breakout zone of 25200-25100 could act
as a support whereas 25700 is now a near-term resistance.
Key Levels
Support 1 - 25200
Resistance 1 - 25440
Support 2 - 25100
Resistance 2 - 25500
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Technical & Derivatives Report
November 08, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 4.84%
BankNifty futures open interest has decreased by 1.39%
as market closed at 10350.15 levels.
The Nifty November future closed with a premium of
59.75 points against a premium of 37.75 points in last
trading session. The December series closed at a
premium of 103 points.
The INDIA VIX has increased from 13.02 to 13.23. At the
same time, the PCR-OI of Nifty has decreased from 1.56
to 1.43 level.
Few of the liquid counters where we have seen high cost
of carry are UBL, NCC, IBREALEST, IDEA and GSFC.
Views
OI Gainers
FIIs were net buyers in cash market segment to the tune
OI
PRICE
of Rs. 461 crores. While, in index futures they sold worth
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Rs. 768 crores with rise in open interest, indicating
LUPIN
11140600
37.24
865.45
-16.85
continuation of short formation for fifth consecutive
OFSS
71100
34.28
3663.15
3.12
sessions.
NBCC
5055000
16.05
286.10
8.13
In index options front, they bought of Rs. 1718 crores
ARVIND
8764000
15.65
458.00
3.54
with rise in open interest. In call options, huge open
MUTHOOTFIN
2281500
13.93
471.30
-4.67
interest addition was seen in 10500-10700 strikes. On
NESTLEIND
146800
11.13
7731.05
1.04
the other hand, we hardly saw any relevant build-up in
IOC
16488000
11.12
402.70
-2.56
put options. However, good amount of unwinding was
INDIACEM
34153000
7.92
175.70
-4.04
visible in
10000-10400 put options. At present,
maximum concentration of open interest is firmly placed
at 10500 call and 10000 put options.
OI Losers
Since last couple of days, FIIs have been forming short
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
positions in index as well as stock futures. This in turn has
WOCKPHARMA
2973100
-21.15
694.80
-4.65
declined their index futures ‘Long Short Ratio’ from 70%
INDIANB
4322000
-11.43
361.80
-4.22
to 60%. At the same time, long positions formed in index
CASTROLIND
15503600
-11.41
413.25
-2.26
futures in October series are still intact. Thus, the above
DCBBANK
5647500
-10.55
182.65
0.27
data remains unclear as of now and hence, we would
BALKRISIND
607200
-10.07
1857.25
1.54
advise traders to prefer stock specific approach and
INFRATEL
7413700
-9.73
429.20
0.92
remain light in index.
KAJARIACER
1043200
-9.26
687.00
-1.46
JUSTDIAL
3997400
-8.93
440.15
-8.33
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
LUPIN
90.60
NIFTY
1.43
0.94
CIPLA
46.73
BANKNIFTY
1.02
0.92
CONCOR
32.60
YESBANK
0.37
0.56
NBCC
58.24
RELIANCE
0.48
0.54
OFSS
24.36
SBIN
0.80
0.71
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Technical & Derivatives Report
November 08, 2017
FII Statistics for November 07, 2017
Turnover on November 07, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2777.64
3545.15
(767.51)
334451
26751.24
2.28
279392
24040.66
104.57
FUTURES
FUTURES
INDEX
INDEX
71204.16
69485.49
1718.67
1087412
87339.85
6.81
5876219
548060.39
86.67
OPTIONS
OPTIONS
STOCK
8333.97
9239.27
(905.30)
967507
67497.90
0.34
STOCK
FUTURES
981106
68007.14
18.81
FUTURES
STOCK
STOCK
8697.38
8569.98
127.41
105846
7516.16
3.01
619646
44706.43
17.77
OPTIONS
OPTIONS
Total
91013.15
90839.89
173.27
2495216
189105.16
3.45
TOTAL
7756363
684814.62
70.97
Nifty Spot = 10350.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
124.55
Buy
10300
56.35
49.95
50.05
10449.95
16.00
84.00
10284.00
Sell
10500
74.60
Sell
10200
40.35
Buy
10400
124.55
Buy
10300
56.35
84.00
116.00
10484.00
26.00
174.00
10274.00
Sell
10600
40.55
Sell
10100
30.35
Buy
10500
74.60
Buy
10200
40.35
34.05
65.95
10534.05
10.00
90.00
10190.00
Sell
10600
40.55
Sell
10100
30.35
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
November 08, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
422
427
433
438
445
AMBUJACEM
269
273
278
282
287
ASIANPAINT
1,114
1,128
1,146
1,160
1,178
AUROPHARMA
748
764
787
803
826
AXISBANK
513
520
530
537
546
BAJAJ-AUTO
3,089
3,125
3,182
3,218
3,275
BAJFINANCE
1,733
1,768
1,808
1,843
1,883
BPCL
502
512
518
528
535
BHARTIARTL
497
505
521
530
546
INFRATEL
414
421
427
433
439
BOSCHLTD
20,441
20,599
20,799
20,957
21,157
CIPLA
563
585
624
647
686
COALINDIA
280
283
285
287
290
DRREDDY
2,299
2,339
2,377
2,416
2,454
EICHERMOT
30,793
30,977
31,138
31,322
31,483
GAIL
449
456
467
474
485
HCLTECH
831
854
867
890
903
HDFCBANK
1,806
1,815
1,830
1,839
1,854
HDFC
1,733
1,749
1,776
1,792
1,820
HEROMOTOCO
3,641
3,661
3,695
3,715
3,749
HINDALCO
258
262
269
273
280
HINDPETRO
408
426
437
455
466
HINDUNILVR
1,212
1,223
1,238
1,249
1,263
IBULHSGFIN
1,158
1,177
1,208
1,227
1,258
ICICIBANK
305
309
313
317
322
IOC
384
392
402
410
420
INDUSINDBK
1,625
1,640
1,657
1,671
1,688
INFY
913
934
947
968
981
ITC
262
263
266
267
270
KOTAKBANK
998
1,005
1,016
1,024
1,034
LT
1,185
1,198
1,216
1,229
1,246
LUPIN
720
790
916
986
1,112
M&M
1,327
1,341
1,361
1,375
1,395
MARUTI
8,121
8,171
8,259
8,309
8,397
NTPC
175
177
179
180
182
ONGC
185
189
197
202
210
POWERGRID
203
205
209
211
214
RELIANCE
883
895
915
927
947
SBIN
305
311
321
327
338
SUNPHARMA
494
511
530
547
567
TCS
2,613
2,661
2,715
2,763
2,817
TATAMOTORS
440
446
456
462
472
TATASTEEL
671
682
698
709
724
TECHM
453
462
470
479
487
ULTRACEMCO
4,273
4,323
4,395
4,445
4,517
UPL
718
729
746
757
775
VEDANTA
326
331
337
342
348
WIPRO
293
297
303
308
314
YESBANK
296
304
313
321
331
ZEEL
521
530
538
546
554
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Technical & Derivatives Report
November 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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