Technical & Derivatives Report
March 10, 2017
Sensex (28929) / Nifty (8927)
Exhibit 1: Nifty Daily Chart
Once again, we witnessed a nervous start to the trading day as
most of the emerging markets seemed worried about the US
Dollar index surpassing the 102 mark. However, our markets
completely shrugged off this development and remained within a
tight range of nearly 47 points throughout the day to end the
session with negligible gains.
It appears that our markets are focusing more on UP election
outcome and before the exit polls numbers that has been
declared last evening. So yesterday’s session was yet another day
of consolidation as markets remained reluctant to move out of the
small range ahead of the event. As far as range for the
forthcoming session is concerned, it remains unchanged at
8993 -
8891. However, directionally we continue with our
positive stance and expect the index to give a breakout in the
upwards direction quite soon. Today being the last day before the
actual outcome, we would expect some volatility in the market.
Hence, it’s advisable to avoid the momentum trading as the
market may give few whipsaws. Rather one should stick with a
‘Buy on dips’ strategy for a near to medium term perspective.
Key Levels
Support 1 - 8891
Resistance 1 - 8993
Support 2 - 8860
Resistance 2 - 9050
Nifty Bank Outlook - (20721)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index continued with its range bound move and
ended the session with marginal gains of 0.22 percent.
The Nifty Bank index has consolidated in a narrow range in last
few trading sessions. Usually, the end of such consolidation
phases lead to directional moves in the direction of the breakout.
Since we have the event of U.P. Elections outcome scheduled in
the upcoming long weekend, the markets would hopefully end
this consolidation phase and resume the broader uptrend. We
have not witnessed any reversal signs in the consolidation and the
momentum readings are now placed comfortably to ride the next
leg of trended move. We continue with our positive stance on the
index and advise traders to create long positions in anticipation of
a trended up move in near term. The intraday support for the
Nifty Bank index is placed in the range of 20470 -20420 whereas
resistances are seen around 20912 and 21042.
Key Levels
Support 1 - 20470
Resistance 1 - 20912
Support 2 - 20420
Resistance 2 - 21042
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Technical & Derivatives Report
March 10, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 5.87%
BankNifty futures open interest has decreased by 2.27%
as market closed at 8927.00 levels.
The Nifty March future closed with a premium of 27.50
points against the premium of 27.80 points in last
trading session. The April series closed at a premium of
54.65 points.
The Implied Volatility of at the money options has
increased from 13.72% to 14.31%. At the same time, the
PCR-OI of Nifty has decreased from 0.95 to 0.90 levels.
The total OI of the market is Rs. 3,20,057/- cr. and the
stock futures OI is Rs. 90,044/- cr.
Few of the liquid counters where we have seen high cost
of carry are CGPOWER, BOSCHLTD, GMRINFRA,
TORNTPOWER and IDFCBANK.
Views
FIIs were net buyers in cash market segment to the tune
OI Gainers
of Rs. 488 crores. While, in index futures they were
OI
PRICE
sellers worth Rs. 617 with some fall in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
suggesting blend of both long unwinding and short
DRREDDY
3498600
16.99
2718.80
-5.01
formation in previous trading session.
HINDZINC
9750400
14.38
291.65
-1.54
In index options, FIIs were sellers of Rs. 1224 crores with
OFSS
273000
8.08
3942.85
2.33
rise in open interest. In call option, 9000-9200 strikes
PFC
33162000
6.93
129.85
-1.48
added huge positions. On the other hand in put options,
CAIRN
26589500
6.43
283.70
0.96
we witnessed some open interest additions in 8700 and
ADANIPORTS
11422500
5.13
302.25
-1.47
8900 strikes. Highest open interest in March series is
TORNTPOWER
4914000
4.87
196.15
-1.95
placed at 9000 call and of put option has shifted from
ONGC
40976250
3.92
190.55
-1.68
8800 to 8700 strike price.
Yesterday, market remained in a narrow range and
closed on a flat note. FIIs continued poring liquidity in
OI Losers
cash segment. However, mixed activity was seen in index
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
futures. From last couple of days, we have been
JETAIRWAYS
5781000
-15.57
444.10
-1.64
witnessing 9200 call option being quite active and we
GAIL
42854000
-15.55
380.85
0.14
believe writer of 9000 call are now shifting towards 9200
JINDALSTEL
36234000
-8.83
118.60
-3.58
strike. While, in last 2-3 series, we witnessed huge
MRF
49230
-6.87
52087.45
0.72
buying from FIIs desk and till date we haven’t seen any
PIDILITIND
1559000
-6.31
683.55
1.54
meaningful profit booking yet. Thus, we believe market
HDIL
28960000
-6.27
71.25
2.22
has potential for further upside and thus, we suggest
BEL
3268350
-5.29
1556.80
1.97
traders to avoid shorting and employ declines as an
TORNTPHARM
231200
-5.25
1335.40
-1.74
opportunity to add on fresh longs.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
DRREDDY
31.02
NIFTY
0.90
0.71
WIPRO
18.72
BANKNIFTY
0.81
0.72
DISHTV
38.11
RELIANCE
0.70
0.55
ONGC
19.77
SBIN
0.45
0.44
BEL
26.99
ICICIBANK
0.45
0.62
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Technical & Derivatives Report
March 10, 2017
FII Statistics for March 09, 2017
Turnover on March 09, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
919.30
1536.39
(617.08)
323378
22227.27
0.66
175870
12848.86
-24.68
FUTURES
FUTURES
INDEX
INDEX
38678.27
39902.55
(1224.29)
957530
65126.46
3.13
7627001
614176.19
59.85
OPTIONS
OPTIONS
STOCK
5949.45
6474.57
(525.12)
1024525
68557.37
0.99
STOCK
FUTURES
471998
34007.70
-21.06
FUTURES
STOCK
STOCK
3429.03
3449.87
(20.84)
91827
6388.73
7.12
267967
19751.33
-19.18
OPTIONS
OPTIONS
TOTAL
48976.05
51363.37
(2387.33)
2397260
162299.83
2.02
TOTAL
8542836
680784.08
45.22
Nifty Spot = 8927.00
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9000
101.15
Buy
8900
98.05
40.35
59.65
9040.35
33.90
66.10
8866.10
Sell
9100
60.80
Sell
8800
64.15
Buy
9000
101.15
Buy
8900
98.05
67.50
132.50
9067.50
57.50
142.50
8842.50
Sell
9200
33.65
Sell
8700
40.55
Buy
9100
60.80
Buy
8800
64.15
27.15
72.85
9127.15
23.60
76.40
8776.40
Sell
9200
33.65
Sell
8700
40.55
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 10, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,367
1,384
1,404
1,422
1,442
ADANIPORTS
296
298
302
305
309
AMBUJACEM
221
224
226
229
231
ASIANPAINT
1,017
1,024
1,032
1,040
1,048
AUROPHARMA
649
654
660
664
670
AXISBANK
501
509
514
522
527
BAJAJ-AUTO
2,836
2,853
2,869
2,886
2,902
BANKBARODA
157
158
159
161
162
BHEL
155
156
158
159
161
BPCL
622
627
636
641
650
BHARTIARTL
354
357
360
363
365
INFRATEL
300
303
306
308
312
BOSCH
21,423
21,726
21,943
22,246
22,463
CIPLA
581
585
589
593
598
COALINDIA
316
317
319
319
321
DRREDDY
2,646
2,676
2,729
2,759
2,812
EICHERMOT
23,154
23,275
23,437
23,558
23,720
GAIL
363
371
377
385
391
GRASIM
991
1,000
1,007
1,016
1,023
HCLTECH
835
840
847
851
859
HDFCBANK
1,374
1,384
1,392
1,401
1,409
HDFC
1,353
1,362
1,372
1,381
1,391
HEROMOTOCO
3,245
3,267
3,283
3,305
3,320
HINDALCO
185
187
190
192
194
HINDUNILVR
858
864
868
874
878
ICICIBANK
271
272
274
275
277
IDEA
101
103
104
106
108
INDUSINDBK
1,314
1,320
1,329
1,335
1,344
INFY
994
1,003
1,008
1,017
1,022
ITC
261
263
265
267
269
KOTAKBANK
817
821
824
829
832
LT
1,457
1,467
1,475
1,485
1,493
LUPIN
1,436
1,445
1,452
1,460
1,467
M&M
1,291
1,297
1,305
1,311
1,318
MARUTI
5,824
5,894
5,935
6,005
6,045
NTPC
154
156
158
160
161
ONGC
188
189
190
191
193
POWERGRID
191
193
194
196
198
RELIANCE
1,272
1,280
1,289
1,296
1,305
SBIN
266
270
272
275
277
SUNPHARMA
673
679
682
689
692
TCS
2,496
2,508
2,516
2,528
2,536
TATAMTRDVR
275
277
280
282
284
TATAMOTORS
459
463
466
471
474
TATAPOWER
81
82
82
83
83
TATASTEEL
463
466
471
474
478
TECHM
483
486
491
494
499
ULTRACEMCO
3,773
3,798
3,815
3,840
3,857
WIPRO
477
481
487
491
497
YESBANK
1,452
1,459
1,469
1,475
1,485
ZEEL
510
514
516
520
523
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Technical & Derivatives Report
March 10, 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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