Technical & Derivatives Report
April 09, 2018
Sensex (33627) / Nifty (10332)
Exhibit 1: Nifty Daily Chart
On Friday, our markets witnessed a flat opening as indicated by
SGX Nifty and post trading in a narrow range ended well above
the 10300 mark.
Barring Wednesday, it was certainly a good week for our markets
as we saw individual stocks soaring to a great extent and thereby
bringing wide smiles back in traders’ fraternity. If we refer to our
intra-week articles, we were anticipating this stock specific rally to
unfold, because none of the top 6 - 7 heavyweight constituents
were indicating immediate downside. Now, since, the Nifty has
broken out from the recent small ‘Falling Channel’ above 10250
last week, we expect this move to continue towards 10400 -
10450. Whether it extends further or not, we have to keep a close
eye on these levels. On the downside, 10280 followed by 10227
would be seen as immediate support levels.
With a broader view, we would like to draw traders’ attention
towards a key point. If we look at the weekly and monthly charts,
we still believe that worse is not over yet for our markets. This is
just a relief rally and hence, one need to keep booking timely
profits and ideally should stay light on positions.
Key Levels
Support 1 - 10280
Resistance 1 - 10400
Support 2 - 10227
Resistance 2 - 10430
Nifty Bank Outlook - (24873)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank Index too opened on a flat note and traded in a
range before ending with gains of around half a percent. As
mentioned in our previous article PSU Bank Index outperformed
post its breakout from 2950 levels. The PSU Bank Index and the
stocks within the sector are likely to continue their outperformance
for the next few sessions.
Going ahead, we sense the up move in the Nifty Bank Index to
continue with immediate resistance placed around
25025
followed by 25230. On the flip side, support is placed around
24600 and 24425 levels. Traders are advised to focus on stock
specific moves within the sector which are likely to provide better
trading opportunities.
Key Levels
Support 1 - 24600
Resistance 1 - 25025
Support 2 - 24425
Resistance 2 - 25230
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Technical & Derivatives Report
April 09, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.69%
BankNifty futures open interest has decreased by 1.87%
as market closed at 10331.60 levels.
The Nifty April future closed with a premium of 21.25
points against a premium of 27.05 points in last trading
session. The May series closed at a premium of 53.50
points.
The INDIA VIX has decreased from 14.79 to 14.74. At
the same time, the PCR-OI of Nifty has increased from
1.42 to 1.45 level.
Few of the liquid counters where we have seen high cost
of carry are IFCI, HCC, GMRINFRA, JPASSOCIAT and
HDIL.
Views
FIIs were net sellers in cash market segment to the tune
OI Gainers
of Rs. 525 crores. At the same time, they sold in index
OI
PRICE
futures of worth Rs. 208 crores with marginal change in
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
open interest, indicating blend of some long unwinding
JUBLFOOD
2291500
25.77
2430.35
3.80
and short covering on Friday’s session.
BERGEPAINT
1852400
17.27
265.40
0.67
In index options front, they were net buyers of Rs. 941
PCJEWELLER
9862500
11.01
298.20
0.65
crores with rise in open interest. As far as Nifty options
MINDTREE
1946400
10.72
831.70
2.86
activities are concerned, we hardly saw any relevant
MGL
993600
9.52
1012.80
-0.35
activity in call options. On the flip side, 10300 and
INFRATEL
6315500
8.06
338.00
0.29
10400 put options added some fresh positions.
GODREJIND
2779500
7.61
554.95
-0.02
Maximum open interest concentration for April series is
ALBK
16000000
7.53
53.50
3.17
seen in 11000, followed by 10500 call and in put
options remains firmly placed at 10000 strike price.
Last week, the benchmark index recovered to reclaim
OI Losers
10300 mark along with addition of fresh longs and
OI
PRICE
short covering in futures segment. We also saw decent
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
amount of short covering from FIIs desk; which was
GLENMARK
5305500
-24.54
563.60
1.35
not surprising as we had been mentioning they were
ONGC
34417500
-22.55
176.95
-0.22
short heavy. We expect continuation of the ongoing
IGL
4754750
-12.10
296.65
2.20
short covering rally, as huge amount of shorts are still
CANFINHOME
7241250
-8.56
453.50
2.73
intact. In addition, looking at the unwinding in 10400
HINDZINC
11910400
-7.89
314.30
0.22
and 10500 call options during the week and stock
CUMMINSIND
1887000
-6.43
768.65
3.02
specific actions, we believe market may soon rally
BALKRISIND
894400
-5.09
1223.25
3.07
towards
10450-10500 levels. Thus, traders are
INDIANB
3488000
-5.06
320.75
0.67
advised to hold on to their longs and keep booking
profits near the resistance zone of 10450-10500
levels.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.45
1.13
SYNDIBANK
65.53
BANKNIFTY
1.70
0.83
UJJIVAN
47.19
RELIANCE
0.66
0.43
TATASTEEL
45.90
TATAMOTORS
0.56
0.44
UNIONBANK
63.14
SUNPHARMA
0.32
0.25
YESBANK
40.49
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Technical & Derivatives Report
April 09, 2018
FII Statistics for April 06, 2018
Turnover on April 06, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1270.26
1477.97
(207.71)
194723
15678.55
(0.36)
194209
16985.27
-33.39
FUTURES
FUTURES
INDEX
INDEX
54421.58
53480.70
940.88
750852
59997.53
1.56
3989631
362589.22
-68.73
OPTIONS
OPTIONS
STOCK
8362.53
8421.05
(58.52)
1089034
76725.49
0.16
STOCK
FUTURES
723325
51285.92
-1.82
FUTURES
STOCK
STOCK
5048.51
5297.41
(248.91)
61309
4318.86
19.33
477778
34452.69
3.04
OPTIONS
OPTIONS
Total
69102.88
68677.13
425.74
2095918
156720.43
1.08
TOTAL
5384943
465313.10
-63.38
Nifty Spot = 10331.60
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10300
157.95
Buy
10300
106.95
56.95
43.05
10356.95
29.70
70.30
10270.30
Sell
10400
101.00
Sell
10200
77.25
Buy
10300
157.95
Buy
10300
106.95
100.15
99.85
10400.15
50.85
149.15
10249.15
Sell
10500
57.80
Sell
10100
56.10
Buy
10400
101.00
Buy
10200
77.25
43.20
56.80
10443.20
21.15
78.85
10178.85
Sell
10500
57.80
Sell
10100
56.10
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 09, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
370
375
379
384
388
ASIANPAINT
1,126
1,135
1,144
1,153
1,162
AXISBANK
492
496
499
504
507
BAJAJ-AUTO
2,748
2,767
2,796
2,815
2,843
BAJFINANCE
1,895
1,916
1,930
1,951
1,965
BAJAJFINSV
5,372
5,428
5,471
5,527
5,570
BPCL
419
426
431
438
443
BHARTIARTL
375
380
388
393
402
INFRATEL
331
335
339
342
346
CIPLA
549
554
562
568
576
COALINDIA
272
274
276
278
281
DRREDDY
2,093
2,109
2,121
2,137
2,150
EICHERMOT
29,424
29,611
29,756
29,943
30,088
GAIL
328
331
333
337
339
GRASIM
1,069
1,077
1,090
1,098
1,110
HCLTECH
937
945
958
966
980
HDFCBANK
1,898
1,911
1,919
1,931
1,939
HDFC
1,812
1,820
1,829
1,838
1,846
HEROMOTOCO
3,735
3,757
3,772
3,795
3,810
HINDALCO
207
211
213
217
219
HINDPETRO
346
350
353
357
361
HINDUNILVR
1,354
1,364
1,373
1,384
1,393
IBULHSGFIN
1,333
1,341
1,348
1,356
1,363
ICICIBANK
274
277
280
283
286
IOC
172
173
175
176
178
INDUSINDBK
1,801
1,812
1,826
1,837
1,851
INFY
1,108
1,117
1,132
1,141
1,156
ITC
259
260
261
262
263
KOTAKBANK
1,094
1,106
1,115
1,127
1,136
LT
1,297
1,307
1,315
1,325
1,333
LUPIN
755
782
812
839
870
M&M
760
766
770
776
781
MARUTI
8,972
9,089
9,160
9,277
9,347
NTPC
166
168
169
171
172
ONGC
175
176
178
179
181
POWERGRID
194
195
197
197
199
RELIANCE
898
905
912
918
925
SBIN
252
256
259
262
265
SUNPHARMA
503
508
512
516
520
TCS
2,912
2,931
2,946
2,965
2,979
TATAMOTORS
351
358
363
369
375
TATASTEEL
566
577
583
594
600
TECHM
610
614
618
622
626
TITAN
894
917
931
955
969
ULTRACEMCO
3,884
3,917
3,953
3,986
4,022
UPL
741
747
752
758
763
VEDANTA
279
282
285
288
291
WIPRO
282
283
284
286
287
YESBANK
310
312
314
316
318
ZEEL
578
581
585
588
592
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Technical & Derivatives Report
April 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]
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