Technical & Derivatives Report
March 09, 2017
Sensex (28902) / Nifty (8924)
Exhibit 1: Nifty Daily Chart
Our benchmark index began the trading on a flat note owing to
quiet global cues. Subsequently, a range bound initial hour was
followed by a sharp corrective move to drag the index tad below
the 8900 mark. However, once again, the hourly ’89 EMA’
provided a rock solid support for the market and as a result, the
Nifty managed to recover a fair bit of lost ground in the second
half.
Once again, we witnessed some selling pressure in the vicinity of
9000 - 8960, which is quite evident couple of days ahead of UP
election outcome. Directionally, we maintain our positive outlook
on the market and reiterate a possibility of a new high quite soon.
For the coming session,
8957 -
8993 would be seen as
immediate hurdles; whereas, on the downside, yesterday’s low of
8891 would now be considered as a major support level. Traders
should continue with a buy on dips strategy and should stay away
from creating fresh short positions in the market. Also, a prudent
strategy at this juncture would be to follow stock specific moves,
which are continuously outperforming since last few days.
Key Levels
Support 1 - 8914
Resistance 1 - 8993
Support 2 - 8860
Resistance 2 - 9050
Nifty Bank Outlook - (20677)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index too traded in a narrow range yesterday and
ended the session on a marginally positive note.
The recent sideways movement seems to be a time-wise
correction within a broader uptrend. Since there are no signs of
any reversal in this consolidation phase, we continue to maintain
our positive stance on the index. Thus, we continue to advise
traders to trade with positive bias. The intraday supports for the
Nifty Bank index are placed around 20555 and 20420 whereas
resistances are seen around 20728 and 20912.
Key Levels
Support 1 - 2055
Resistance 1 - 20728
Support 2 - 20420
Resistance 2 - 20912
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Technical & Derivatives Report
March 09, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 7.19%
BankNifty futures open interest has increased by 1.21%
as market closed at 8924.30 levels.
The Nifty March future closed with a premium of 27.80
points against the premium of 27.20 points in last
trading session. The April series closed at a premium of
53.00 points.
The Implied Volatility of at the money options has
increased from 13.12% to 13.72%. At the same time, the
PCR-OI of Nifty has decreased from 0.97 to 0.95 levels.
The total OI of the market is Rs. 3,00,572/- cr. and the
stock futures OI is Rs. 90,330/- cr.
Few of the liquid counters where we have seen high cost
of carry are JSWENERGY, RECLTD, TORNTPHARM,
EXIDEIND and GMRINFRA.
Views
FIIs were net buyers in both cash market segment and
OI Gainers
index futures. They bought equities to the tune of
OI
PRICE
SCRIP
OI
PRICE
Rs. 3573 crores. While, in index futures they were buyers
CHG. (%)
CHG. (%)
GAIL
38056500
38.32
507.05
-2.10
worth Rs. 292 with good amount of rise in open interest,
JETAIRWAYS
6847000
22.88
451.50
2.86
suggesting blend of both long and short formation in
VEDL
43291500
10.64
253.45
-3.21
previous trading session.
L&TFH
22374000
9.95
120.85
0.37
In index options, FIIs were buyers of Rs. 477 crores with
rise in open interest. In call option, 9200 and 9500
RCOM
121752000
8.50
34.65
-4.81
strikes added some fresh positions. On the other hand in
OIL
2395162
8.08
328.85
-2.24
put options, we witnessed some open interest additions in
INFY
25525500
7.76
1010.35
-0.91
8700 and 8900 strikes. Highest open interest in March
KOTAKBANK
9835200
7.11
829.50
1.01
series is placed at 9000 call and 8800 put option.
Yesterday, we saw sharp correction in second half of the
OI Losers
session which led Nifty below 8900 mark. However, Nifty
OI
PRICE
SCRIP
OI
PRICE
slightly recovered and closed with minor loss of 25 bps.
CHG. (%)
CHG. (%)
SUNTV
7252000
-8.89
732.85
-0.87
Despite, market being under pressure, FIIs bought in
cash segment. While, in index futures majority of the
ADANIPORTS
10865000
-6.94
306.75
-0.63
positions formed were also on long side. In last 2-3
RELCAPITAL
10585500
-6.72
542.25
-0.54
series, we witnessed huge buying from FIIs desk and till
SIEMENS
867500
-6.32
1206.50
-0.89
date we haven’t seen any significant profit booking.
CGPOWER
19548000
-6.16
70.15
-1.54
Hence, we believe market has potential for further upside
UPL
6232800
-5.96
709.35
0.52
and thus, we suggest traders to avoid shorting and
ARVIND
6472000
-5.88
392.65
-1.05
employ declines as an opportunity to form fresh longs.
MRF
52860
-4.81
51716.10
-1.25
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ONGC
18.62
NIFTY
0.95
0.80
OIL
25.57
BANKNIFTY
0.77
0.79
CAIRN
36.63
RELIANCE
0.74
0.59
RPOWER
32.40
SBIN
0.44
0.64
ADANIPOWER
57.72
ICICIBANK
0.49
0.64
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Technical & Derivatives Report
March 09, 2017
FII Statistics for March 08, 2017
Turnover on March 08, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2429.67
2137.76
291.91
321249
22070.75
6.26
233342
17058.79
105.03
FUTURES
FUTURES
INDEX
INDEX
39683.99
39207.25
476.74
928444
63150.88
4.93
4886854
384211.83
143.34
OPTIONS
OPTIONS
STOCK
6916.70
8117.09
(1200.38)
1014489
68023.10
2.07
STOCK
FUTURES
608387
43077.79
20.19
FUTURES
STOCK
STOCK
4033.91
4125.20
(91.29)
85723
5934.51
7.77
334346
24439.37
19.36
OPTIONS
OPTIONS
TOTAL
53064.27
53587.30
(523.03)
2349905
159179.23
3.95
TOTAL
6062929
468787.78
110.67
Nifty Spot = 8924.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9000
97.75
Buy
8900
97.70
38.20
61.80
9038.20
34.10
65.90
8865.90
Sell
9100
59.55
Sell
8800
63.60
Buy
9000
97.75
Buy
8900
97.70
64.00
136.00
9064.00
57.90
142.10
8842.10
Sell
9200
33.75
Sell
8700
39.80
Buy
9100
59.55
Buy
8800
63.60
25.80
74.20
9125.80
23.80
76.20
8776.20
Sell
9200
33.75
Sell
8700
39.80
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 09, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,375
1,387
1,398
1,409
1,420
ADANIPORTS
297
302
305
310
314
AMBUJACEM
220
223
225
228
230
ASIANPAINT
1,004
1,013
1,024
1,033
1,044
AUROPHARMA
652
659
667
674
682
AXISBANK
495
503
508
515
520
BAJAJ-AUTO
2,836
2,853
2,868
2,885
2,900
BANKBARODA
155
157
159
162
164
BHEL
155
157
159
160
162
BPCL
620
629
640
650
660
BHARTIARTL
356
358
361
364
367
INFRATEL
304
307
309
312
314
BOSCH
21,063
21,476
21,733
22,146
22,403
CIPLA
579
585
589
596
600
COALINDIA
315
318
322
324
328
DRREDDY
2,798
2,822
2,848
2,872
2,897
EICHERMOT
22,931
23,190
23,372
23,631
23,814
GAIL
501
510
522
531
543
GRASIM
986
994
1,003
1,011
1,020
HCLTECH
836
842
850
856
864
HDFCBANK
1,373
1,382
1,391
1,401
1,409
HDFC
1,353
1,360
1,369
1,376
1,384
HEROMOTOCO
3,213
3,243
3,285
3,315
3,357
HINDALCO
184
187
190
193
197
HINDUNILVR
857
864
870
877
883
ICICIBANK
270
272
274
277
279
IDEA
103
105
107
108
110
INDUSINDBK
1,311
1,319
1,331
1,339
1,351
INFY
997
1,003
1,010
1,015
1,022
ITC
262
263
264
265
266
KOTAKBANK
808
816
828
836
847
LT
1,454
1,465
1,480
1,491
1,506
LUPIN
1,430
1,440
1,452
1,461
1,473
M&M
1,286
1,295
1,309
1,318
1,332
MARUTI
5,751
5,808
5,856
5,913
5,961
NTPC
155
156
157
158
160
ONGC
189
191
194
196
199
POWERGRID
192
194
196
197
199
RELIANCE
1,273
1,282
1,295
1,304
1,317
SBIN
264
267
269
271
273
SUNPHARMA
665
673
681
689
697
TCS
2,480
2,496
2,508
2,524
2,536
TATAMTRDVR
275
277
280
282
285
TATAMOTORS
456
459
465
468
473
TATAPOWER
81
82
82
83
84
TATASTEEL
460
466
476
483
493
TECHM
479
486
494
501
509
ULTRACEMCO
3,743
3,773
3,793
3,823
3,843
WIPRO
487
491
494
498
500
YESBANK
1,434
1,454
1,468
1,488
1,502
ZEEL
501
508
512
519
523
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Technical & Derivatives Report
March 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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