Technical & Derivatives Report
January 09, 2018
Sensex (34353) / Nifty (10624)
Exhibit 1: Nifty Daily Chart
The merry days continue in our markets as we step into the second
week of the New Year calendar. Our markets opened higher citing
positive cues from the US bourses and then continued its gradual
march in the uncharted territory. The broad based rally resulted into
a fresh high above the new milestone of 10600.
Now, market participants have started naming this recent up move as
a ‘Pre-Budget’ rally. And hence, some of the thematic pockets
(related to Budget) are attracting traders’ attention. Although, index is
at all time high, we do not see any trading opportunity in index;
because, the kind of moves we can see outside the index is much
more fascinating. We continue to advise remaining light on index
specific trades and should focus on selective stocks with a proper exit
strategy. Yesterday, we saw good traction in the banking basket for
the major part of the day; but, towards the fag end, we saw banking
index giving up gains and started making intraday lows. At the same
time, the Nifty was around its high and was maintaining its strong
posture. This we can construe as a divergence and hence, we do not
want to trade aggressively in the benchmark index. As far as levels
are concerned, 10630 - 10650 would be seen as immediate
resistances which may attract some profit booking and on the
downside, 10588 followed by 10560 would now act as intraday
supports.
Key Levels
Support 1 - 10588
Resistance 1 - 10630
Support 2 - 10560
Resistance 2 - 10650
Nifty Bank Outlook - (25676)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index started the week with a gap up opening.
However, the index consolidated in a narrow range throughout the
session and ended the day with marginal gains.
The broader market up move yesterday was quite encouraging for
the bulls; however, the Nifty Bank index underperformed the
benchmark indices. If we analyze the recent history in the Nifty Bank
index, it is observed that the index has resistance around 25780,
which is the gap resistance created during the end of November and
the high registered on 20th December 2017. Hence, a positive
momentum in the index is expected only post a breakout above the
mentioned resistance. Although, certain stocks within the banking
space have been witnessing positive momentum supported with good
volumes and hence, we continue with our advice for traders to focus
on stock specific moves and trade with a positive bias.
Key Levels
Support 1 - 25600
Resistance 1 - 25780
Support 2 - 25500
Resistance 2 - 25953
www.angelbroking.com
Technical & Derivatives Report
January 09, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 4.22%
BankNifty futures open interest has increased by 17.28%
as market closed at 10623.60 levels.
The Nifty January future closed with a premium of 5.40
points against a premium of 14.35 points in last trading
session. The February series closed at a premium of
26.65 points.
The INDIA VIX has increased from 13.11 to 13.73. At the
same time, the PCR-OI of Nifty has increased from 1.58
to 1.64 level.
Few of the liquid counters where we have seen high cost
of carry are CHOLAFIN, RPOWER, RCOM, SREINFRA
and GODFRYPHLP.
Views
OI Gainers
FIIs were net buyer in cash market segment and index
OI
PRICE
SCRIP
OI
PRICE
futures. They bought to the tune of Rs. 693 crores. At the
CHG. (%)
CHG. (%)
same time, they were buyers in index futures of Rs. 205
RBLBANK
8379000
35.76
546.35
0.75
crores with rise in open interest, indicating fresh long
MINDTREE
2442000
27.03
634.05
5.03
formation in yesterday’s trading session.
ZEEL
6277700
15.33
596.50
1.16
In index options front, they were buyers of Rs. 2727
MUTHOOTFIN
1945500
14.88
473.30
-0.18
crores with rise in open interest. As far as options
CUMMINSIND
564000
14.22
963.00
0.11
activities in Nifty are concerned, we saw fresh OI
WOCKPHARMA
4089600
13.88
996.90
5.83
addition in 10800 call options; followed by unwinding in
SREINFRA
22480000
13.74
103.40
4.92
10400-10600 strikes. On the flip side, 10400-10600
MRPL
12411000
13.40
134.40
4.31
put options added fresh position; wherein, huge positions
were formed in 10500 and 10600 strikes. Maximum
concentration of open interest is now placed at 11000
OI Losers
call; followed by 10600 strikes; whereas, in put options is
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
seen in 10400 strike price.
JINDALSTEL
28102500
-17.61
255.95
6.62
The benchmark index extended its gains and hits a fresh
RCOM
93184000
-6.70
34.15
0.00
record high to conclude the session above 10600 mark.
OFSS
102450
-5.79
4122.75
0.13
Stronger hands continue to pour liquidity through equity
TORNTPOWER
5799000
-5.66
283.95
1.16
market; we also saw some long formation by them in
JISLJALEQS
48312000
-5.43
133.80
-0.71
index futures in yesterday’s session. In addition, they also
MCX
4044000
-4.98
955.85
3.50
bought decent amount of index call options; thus,
ASHOKLEY
54306000
-4.93
128.85
0.78
suggesting continuation of ongoing move.
LUPIN
14125800
-4.92
924.30
2.30
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.64
1.24
CAPF
37.83
BANKNIFTY
0.94
0.81
IDFCBANK
55.78
RELIANCE
0.43
0.27
NIITTECH
38.38
TATAMOTORS
0.49
0.41
MINDTREE
38.58
SBIN
0.44
0.40
CESC
31.44
www.angelbroking.com
Technical & Derivatives Report
January 09, 2018
FII Statistics for January 08, 2018
Turnover on January 08, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1270.88
1065.86
205.02
214150
17560.64
2.63
123028
10788.85
-16.99
FUTURES
FUTURES
INDEX
INDEX
31225.07
28497.80
2727.27
794331
65266.59
6.09
3101550
286678.60
16.56
OPTIONS
OPTIONS
STOCK
9597.29
9630.71
(33.42)
947433
71227.16
0.56
STOCK
FUTURES
776063
59451.25
-9.23
FUTURES
STOCK
STOCK
5892.54
6105.20
(212.65)
81404
6472.31
9.72
471198
37222.51
-11.14
OPTIONS
OPTIONS
Total
47985.78
45299.57
2686.21
2037318
160526.71
3.22
TOTAL
4471839
394141.22
7.59
Nifty Spot = 10623.60
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10600
113.80
Buy
10600
87.55
52.15
47.85
10652.15
29.35
70.65
10570.65
Sell
10700
61.65
Sell
10500
58.20
Buy
10600
113.80
Buy
10600
87.55
85.60
114.40
10685.60
48.55
151.45
10551.45
Sell
10800
28.20
Sell
10400
39.00
Buy
10700
61.65
Buy
10500
58.20
33.45
66.55
10733.45
19.20
80.80
10480.80
Sell
10800
28.20
Sell
10400
39.00
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
www.angelbroking.com
Technical & Derivatives Report
January 09, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
417
420
424
427
430
AMBUJACEM
270
272
274
276
278
ASIANPAINT
1,165
1,173
1,182
1,191
1,199
AUROPHARMA
663
670
677
684
691
AXISBANK
560
563
565
568
571
BAJAJ-AUTO
3,248
3,262
3,279
3,293
3,311
BAJFINANCE
1,810
1,824
1,833
1,847
1,856
BPCL
485
491
496
502
508
BHARTIARTL
502
509
522
529
542
INFRATEL
370
372
374
377
379
BOSCHLTD
19,437
19,718
19,931
20,211
20,424
CIPLA
603
609
618
624
634
COALINDIA
274
281
286
292
297
DRREDDY
2,444
2,460
2,486
2,502
2,528
EICHERMOT
28,853
29,025
29,212
29,385
29,572
GAIL
491
494
499
502
507
HCLTECH
890
893
898
901
907
HDFCBANK
1,851
1,858
1,864
1,871
1,877
HDFC
1,722
1,732
1,738
1,748
1,754
HEROMOTOCO
3,728
3,757
3,775
3,804
3,821
HINDALCO
271
274
276
279
282
HINDPETRO
414
417
421
424
427
HINDUNILVR
1,341
1,355
1,363
1,378
1,386
IBULHSGFIN
1,185
1,205
1,217
1,237
1,248
ICICIBANK
309
311
315
317
320
IOC
382
385
388
391
394
INDUSINDBK
1,691
1,705
1,715
1,729
1,739
INFY
1,013
1,024
1,032
1,043
1,051
ITC
262
264
265
267
269
KOTAKBANK
998
1,002
1,008
1,012
1,017
LT
1,304
1,321
1,334
1,351
1,363
LUPIN
896
909
918
931
940
M&M
755
758
759
761
762
MARUTI
9,381
9,406
9,451
9,476
9,521
NTPC
176
177
178
178
179
ONGC
195
196
198
199
201
POWERGRID
198
199
201
203
204
RELIANCE
920
924
927
931
935
SBIN
302
304
307
309
311
SUNPHARMA
576
584
594
602
613
TCS
2,660
2,682
2,705
2,727
2,750
TATAMOTORS
429
431
434
436
438
TATASTEEL
758
763
771
776
783
TECHM
510
522
532
544
555
ULTRACEMCO
4,350
4,391
4,412
4,453
4,474
UPL
772
778
784
790
796
VEDANTA
333
337
339
343
345
WIPRO
307
310
311
313
315
YESBANK
325
329
335
339
345
ZEEL
582
588
594
599
605
www.angelbroking.com
Technical & Derivatives Report
January 09, 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