Technical & Derivatives Report
January 09, 2017
Sensex (26759) / Nifty (8244)
Exhibit 1: Nifty Daily Chart
It’s been a week of consolidation for our market after seeing a
spectacular recovery in the previous week posting a new ten-
month low of 7893.80. However, things were quite clear due to
this remarkable rally that the Nifty has formed a base around
7900 and is now poised for a breakout beyond 8274.95. Very
much on our expected lines, the Nifty first retested the mentioned
level and then kissed the 8300 mark. However, we saw some
profit booking on Friday, which we believe was quite evident after
a straight 400 points upward move and importantly after testing
the daily ’89 EMA’ placed around 8295.
Now, with reference to our previous article, we would interpret
this corrective move as a breather and continue to expect higher
levels of 8400 - 8460 in the near term. Some of the key
evidences for such hypothesis are a rising ‘RSI-Smoothened’ on
daily chart after confirming a ‘1-2-3’ pattern, positive crossover of
‘5 & 20 EMA’ combination, and a ‘Double Bottom’ formation
precisely at 50% Fibonacci retracement level of the entire rally
from 6825.80 to 8968.70. Thus, traders are advised to stay
positive and use all meaningful dips to initiate fresh long positions
in the market. Going ahead, 8182 - 8133 would be seen as an
important and strong support level.
Key Levels
Support 1 - 8227
Resistance 1 - 8300
Support 2 - 8182
Resistance 2 - 8325
Nifty Bank Outlook - (18264)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index outperformed the broader indices on Friday
and ended the session with gains of 0.82 percent.
The Nifty Bank index gave breakout above the resistance of
18250 on Friday on closing basis as the heavyweights within the
Nifty Bank index showed positive momentum on the last trading
session of the week. The upmove was quite on our expected lines
as we have been anticipating it in our last few reports. The 'RSI
Smoothened' oscillator too has breached its previous swing high
and is indicating positive momentum. Thus, there is higher
probability of the Nifty Bank index continuing its upmove in near
term which could lead the index higher upto 18600. Hence, we
advise traders to hold on to the long positions created last week
and trade with positive bias in the sector. The intraday supports
for the Nifty Bank index are placed around 18150 and 18075
whereas resistances are seen around 18460 and 18600.
Key Levels
Support 1 - 18150
Resistance 1 - 18460
Support 2 - 18075
Resistance 2 - 18600
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Technical & Derivatives Report
January 09, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.22%
BankNifty futures open interest has decreased by 7.48%
as market closed at 8243.80 levels.
The Nifty January future closed with a premium of 23.85
points against the premium of 14.40 points in last
trading session. The February series closed at a premium
of 49.95 points.
The Implied Volatility of at the money options has
decreased from 12.84% to 12.57%. At the same time,
the PCR-OI of Nifty has increased from 1.10 to 1.11
levels.
The total OI of the market is Rs. 2,39,554/- cr. and the
stock futures OI is Rs. 71,192/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, IDFC, JSWENERGY, JSWSTEEL
and NCC.
Views
OI Gainers
OI
PRICE
On Friday, FIIs were net sellers to the tune of Rs. 255
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
crores in cash segment. While, in index futures, they were
NCC
16632000
20.24
83.65
-3.35
net buyers of Rs. 510 crores with rise in open interest,
PETRONET
3639000
18.57
375.20
-1.09
indicating long build-up in previous trading session.
DIVISLAB
4942200
15.57
740.25
-3.49
On Index Options front, FIIs bought worth Rs. 831 crores
PFC
19068000
11.00
129.45
2.29
with rise in OI. In call options, 8300-8400 and 8600
MINDTREE
2227200
10.74
496.30
-5.13
strikes added some positions. On the other hand, in put
CONCOR
855000
7.61
1166.05
-0.71
options, we witnessed good amount of build-up in 8300
TORNTPOWER
2757000
7.61
180.00
-1.34
strike; while, some OI addition was also visible out-the-
MCLEODRUSS
5139000
7.40
141.90
0.53
money strike 7700. Maximum OI in January series is
placed at 8400 call and 8000 put options.
January series started with high rollovers and we believe
OI Losers
OI
PRICE
most of the positions that got rolled were on long side. In
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
the first week of January series, we witness fresh long
JUSTDIAL
4010400
-13.55
370.50
-5.10
formation in Index and Stock Futures and the quantum of
BANKBARODA
35840000
-8.98
153.30
1.32
the positions formed is also decent. Highest open interest
EXIDEIND
11320000
-7.64
186.75
1.22
in call option has also shifted to 8400 strike price which
IOC
16821000
-7.20
342.65
-1.75
is a positive indication. Thus, considering last week’s FIIs
ICICIBANK
52922500
-6.83
258.55
0.43
activity we can sense that market may continue it’s up
NIITTECH
642000
-6.75
423.80
-1.86
move in near term. Thus traders are suggested to trade
INDUSINDBK
4857600
-6.44
1144.25
1.47
with a positive bias.
L&TFH
22824000
-6.07
92.85
-0.48
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
WOCKPHARMA
38.85
NIFTY
1.11
0.99
HEXAWARE
34.51
BANKNIFTY
0.97
0.92
MINDTREE
44.27
SBIN
0.53
0.38
HCLTECH
31.71
INFY
0.75
0.96
JSWENERGY
52.75
MARUTI
1.63
1.27
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Technical & Derivatives Report
January 09, 2017
FII Statistics for January 06, 2017
Turnover on January 06, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1542.76
1032.35
510.40
205421
13002.60
5.30
197837
13145.28
-17.80
FUTURES
FUTURES
INDEX
INDEX
26894.80
26063.96
830.84
921622
58035.80
3.83
2827483
189520.47
-57.30
OPTIONS
OPTIONS
STOCK
7041.39
6872.29
169.10
855849
52929.81
(0.02)
STOCK
FUTURES
528559
34335.36
0.33
FUTURES
STOCK
STOCK
3212.16
3231.57
(19.41)
53033
3421.93
9.87
286482
19254.41
-2.13
OPTIONS
OPTIONS
TOTAL
38691.10
37200.17
1490.93
2035925
127390.13
2.46
TOTAL
3840361
256255.52
-50.12
Nifty Spot = 8243.80
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8300
78.50
Buy
8200
70.15
38.75
61.25
8338.75
25.75
74.25
8174.25
Sell
8400
39.75
Sell
8100
44.40
Buy
8300
78.50
Buy
8200
70.15
61.00
139.00
8361.00
42.05
157.95
8157.95
Sell
8500
17.50
Sell
8000
28.10
Buy
8400
39.75
Buy
8100
44.40
22.25
77.75
8422.25
16.30
83.70
8083.70
Sell
8500
17.50
Sell
8000
28.10
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 09, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,319
1,326
1,338
1,345
1,357
ADANIPORTS
281
283
288
290
294
AMBUJACEM
210
211
213
215
217
ASIANPAINT
908
919
926
936
943
AUROPHARMA
668
680
695
707
722
AXISBANK
449
452
457
460
465
BAJAJ-AUTO
2,671
2,689
2,715
2,733
2,758
BANKBARODA
149
151
153
155
157
BHEL
125
126
127
128
129
BPCL
650
657
669
677
689
BHARTIARTL
311
315
323
327
334
INFRATEL
348
351
354
357
361
BOSCH
20,024
20,568
21,258
21,802
22,492
CIPLA
570
576
584
590
597
COALINDIA
302
304
307
310
313
DRREDDY
3,111
3,135
3,170
3,193
3,228
EICHERMOT
22,138
22,428
22,640
22,929
23,141
GAIL
435
439
445
449
455
GRASIM
843
849
857
863
871
HCLTECH
787
801
820
834
854
HDFCBANK
1,183
1,188
1,193
1,199
1,204
HDFC
1,211
1,217
1,224
1,230
1,238
HEROMOTOCO
3,013
3,040
3,080
3,107
3,147
HINDALCO
158
159
162
163
165
HINDUNILVR
804
819
847
862
890
ICICIBANK
255
256
259
261
263
IDEA
71
72
74
74
76
INDUSINDBK
1,118
1,131
1,143
1,156
1,168
INFY
949
961
980
991
1,011
ITC
238
240
245
247
251
KOTAKBANK
684
701
710
726
735
LT
1,378
1,384
1,394
1,401
1,410
LUPIN
1,493
1,503
1,515
1,525
1,537
M&M
1,204
1,212
1,226
1,234
1,247
MARUTI
5,563
5,589
5,623
5,650
5,684
NTPC
162
163
165
166
167
ONGC
196
199
203
206
210
POWERGRID
185
187
190
192
195
RELIANCE
1,066
1,070
1,078
1,082
1,090
SBIN
243
245
247
248
250
SUNPHARMA
633
637
643
647
654
TCS
2,217
2,249
2,289
2,321
2,362
TATAMTRDVR
313
316
321
324
328
TATAMOTORS
489
493
501
505
512
TATAPOWER
76
77
77
78
78
TATASTEEL
410
415
420
425
430
TECHM
453
461
475
483
496
ULTRACEMCO
3,260
3,292
3,343
3,374
3,426
WIPRO
462
466
473
477
484
YESBANK
1,201
1,224
1,238
1,261
1,275
ZEEL
454
458
467
471
480
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Technical & Derivatives Report
January 09, 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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