Technical & Derivatives Report
August 09, 2017
Sensex (32014) / Nifty (9979)
Exhibit 1: Nifty Daily Chart
Our markets had a soft opening yesterday on the back of
sluggish cues from the global peers. However, all of a sudden,
we witnessed a sharp correction in our market after the initial 15-
20 minutes of trading. The Nifty tumbled more than 100 points
within a blink of an eye, which certainly is a notable
development. Despite some attempt to recover in the midst of the
session, the Nifty eventually closed below the 10000 mark.
We have been advocating booking profits in the recent rallies
with an anticipation of some probable correction. The index has
already given a decent rally in last three weeks; but now, due to
yesterday’s price development, we can see some signs of
weakness. The ‘RSI-Smoothened’ on daily chart has turned
downwards after resisting around the trend line level of 90. In
addition, the Nifty has managed to close below the hourly ’89-
EMA’ level of 10000. Considering all these evidences, we expect
this profit booking move to extend towards 9920 - 9870 levels.
On the flipside, any intraday attempt to bounce back towards
10020 - 10050 is likely to witness a strong selling pressure.
Traders are now likely to get better trading opportunities in
individual stocks in both directions and hence, one should be very
watchful while picking a stock.
Key Levels
Support 1 - 9920
Resistance 1 - 10020
Support 2 - 9870
Resistance 2 - 10050
Nifty Bank Outlook - (24600)
Exhibit 2: Nifty Bank Daily Chart
After opening on a flat note, the Nifty Bank index corrected by
more than 350 points in the first hour of trade. The index then
traded in a narrow range throughout the session and ended with
a loss of 1.23% over its previous session's close.
Since last couple of days, we have been mentioning that we are
expecting a consolidation phase in the index and the resistance
end of the range is seen around 25000-25200. The index
resisted around the mentioned range and has formed a 'Lower
Top' on the hourly chart. The recent price move also resembles a
'Head & Shoulder' reversal pattern on the hourly chart and the
index has closed at the neckline of the pattern. Going ahead,
25000 is expected to act as a stiff resistance and if the prices
continue its corrective move today, then the correction could
extend upto its hourly '200 SMA' support, which is placed in the
range of
24200-24150. Hence, untill the index crosses its
resistance of 25000, traders should be cautious as the index
could probably correct upto 24200-24150.
Key Levels
Support 1 - 24500
Resistance 1 - 24750
Support 2 - 24200
Resistance 2 - 25000
www.angelbroking.com
Technical & Derivatives Report
August 09, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 6.03%
BankNifty futures open interest has increased by 9.80%
as market closed at 9978.55 levels.
The Nifty August future closed with a premium of 20.90
points against the premium of 34.35 points in last
trading session. The September series closed at a
premium of 53.25 points.
The Implied Volatility of at the money options has
increased from 9.82 to 10.51. At the same time, the
PCR-OI of Nifty has decreased from 1.25 levels to 1.15.
Few of the liquid counters where we have seen high cost
of carry are INFIBEAM, PAGEIND, NATIONALUM,
SOUTHBANK and WOCKPHARMA.
Views
FIIs were net buyers in cash market segment to the tune
of Rs.1540 crores. While, in index futures they sold of
OI Gainers
worth Rs. 417 crores with rise in open interest, indicating
OI
PRICE
continuation of short formation in previous trading
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
session.
MRPL
10570500
19.24
134.00
5.51
In index options segment, they bought significantly of
MGL
1376400
14.59
1069.35
2.38
Rs. 1286 crores with rise in open interest. In call option,
HINDALCO
38937500
12.74
236.35
3.28
10000-10200 and 10500 strikes added good amount of
NATIONALUM
13800000
12.38
70.40
1.15
fresh positions. On the flip side, some build-up was seen
CIPLA
7563000
12.19
580.80
2.23
in
9800 put option; followed by good amount of
JINDALSTEL
46201500
10.74
140.35
-2.80
unwinding in
10000-10100 strikes of put options.
DCBBANK
8523000
9.86
186.05
-5.63
Maximum open interest in current series has shifted lower
BAJAJ-AUTO
1233000
9.48
2929.00
0.91
to 10100 from 10200 call and of put option remains
intact in 10000 strike.
OI Losers
From the beginning of August series, FIIs have been
OI
PRICE
shorting index futures along with long formation in index
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
put options. As a result, their index futures ‘Long Short
PCJEWELLER
4455000
-17.27
292.00
7.25
Ratio’ dropped to 61% from 84%. However, they still
APOLLOTYRE
12744000
-12.92
281.10
-2.06
hold long position in index futures formed in the rally
BERGEPAINT
1130800
-11.99
253.95
1.62
seen from January 2017. At current juncture, 9950 is an
HDIL
32168000
-11.51
56.60
-19.26
immediate support and 10150-10200 is an important
KSCL
4404000
-11.46
658.35
-5.57
hurdle for Nifty. Hence, until we don’t see index
HEXAWARE
2286000
-10.14
260.70
2.60
surpassing either of the above levels, traders are advised
PIDILITIND
1003000
-10.13
803.75
-0.72
to remain light in index and prefer stock specific
VOLTAS
3666000
-6.67
540.25
0.11
approach.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HDIL
119.11
NIFTY
1.15
0.99
DLF
43.83
BANKNIFTY
0.74
0.91
DCBBANK
37.49
RELIANCE
0.61
0.59
CGPOWER
41.26
ITC
0.31
0.25
PCJEWELLER
50.15
SBIN
0.62
0.64
www.angelbroking.com
Technical & Derivatives Report
August 09, 2017
FII Statistics for August 08, 2017
Turnover on August 08, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1556.95
1974.02
(417.07)
277817
21221.31
4.16
263013
22350.32
172.83
FUTURES
FUTURES
INDEX
INDEX
85445.55
84160.01
1285.54
992515
76414.14
3.52
6597556
599837.50
181.78
OPTIONS
OPTIONS
STOCK
8080.51
8054.36
26.15
803904
56220.82
0.28
STOCK
FUTURES
766831
59472.35
32.34
FUTURES
STOCK
STOCK
8725.69
8656.28
69.41
111595
8325.33
11.29
539121
44309.39
38.05
OPTIONS
OPTIONS
Total
103808.71
102844.68
964.03
2185831
162181.61
2.75
TOTAL
8166521
725969.57
143.53
Nifty Spot = 9978.55
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10000
107.05
Buy
10000
107.75
45.65
54.35
10045.65
36.70
63.30
9963.30
Sell
10100
61.40
Sell
9900
71.05
Buy
10000
107.05
Buy
10000
107.75
74.35
125.65
10074.35
60.75
139.25
9939.25
Sell
10200
32.70
Sell
9800
47.00
Buy
10100
61.40
Buy
9900
71.05
28.70
71.30
10128.70
24.05
75.95
9875.95
Sell
10200
32.70
Sell
9800
47.00
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
August 09, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,769
1,791
1,814
1,836
1,859
ADANIPORTS
406
410
415
419
423
AMBUJACEM
269
271
276
279
283
ASIANPAINT
1,134
1,140
1,146
1,153
1,158
AUROPHARMA
710
718
729
738
749
AXISBANK
487
493
502
508
517
BAJAJ-AUTO
2,818
2,865
2,923
2,970
3,028
BANKBARODA
153
155
158
160
163
BPCL
486
496
512
521
538
BHARTIARTL
408
413
419
424
430
INFRATEL
375
379
384
389
394
BOSCHLTD
23,696
23,943
24,211
24,458
24,727
CIPLA
554
566
573
585
592
COALINDIA
239
242
246
250
254
DRREDDY
2,007
2,051
2,129
2,173
2,251
EICHERMOT
31,036
31,579
32,014
32,556
32,992
GAIL
378
382
386
390
394
HCLTECH
872
877
881
886
890
HDFCBANK
1,749
1,764
1,780
1,795
1,812
HDFC
1,687
1,703
1,718
1,734
1,749
HEROMOTOCO
3,830
3,872
3,938
3,979
4,045
HINDALCO
225
230
237
242
250
HINDUNILVR
1,166
1,178
1,194
1,206
1,222
IBULHSGFIN
1,155
1,175
1,191
1,211
1,227
ICICIBANK
289
292
297
300
305
IOC
395
404
418
427
440
INDUSINDBK
1,615
1,627
1,644
1,656
1,673
INFY
948
956
963
971
978
ITC
268
271
276
279
284
KOTAKBANK
969
979
989
998
1,009
LT
1,152
1,161
1,174
1,183
1,196
LUPIN
957
966
979
988
1,001
M&M
1,376
1,388
1,402
1,414
1,429
MARUTI
7,645
7,700
7,793
7,848
7,941
NTPC
167
169
171
173
176
ONGC
160
162
164
166
168
POWERGRID
219
221
224
226
229
RELIANCE
1,569
1,586
1,603
1,620
1,638
SBIN
295
299
306
310
316
SUNPHARMA
491
496
502
507
513
TCS
2,477
2,490
2,509
2,522
2,542
TATAMTRDVR
243
246
249
252
255
TATAMOTORS
421
426
431
435
440
TATAPOWER
77
77
79
80
81
TATASTEEL
596
606
616
626
635
TECHM
389
393
401
406
414
ULTRACEMCO
3,995
4,026
4,056
4,087
4,117
VEDANTA
286
292
297
303
308
WIPRO
281
284
288
291
295
YESBANK
1,725
1,744
1,773
1,792
1,821
ZEEL
530
535
539
544
547
www.angelbroking.com
Technical & Derivatives Report
August 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]
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 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 company 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