Technical & Derivatives Report
April 10, 2017
Sensex (29707) / Nifty (9198)
Exhibit 1: Nifty Daily Chart
Friday’s session began with a decent downside gap mainly on the
back of geopolitical concerns. Subsequently, looking at first half’s
recovery it appeared as if the index once again shrugged off
negative cues and is in process of giving a strong close above the
9250 mark. However, we witnessed a strong bout of selling in the
penultimate hour to drag the index even below 9200 on a closing
basis.
Nifty closing below 9200 as well as ‘5-day EMA’ is not a good
sign for our market; but, looking at the broader degree chart
structure, we do not want to consider it as a worrisome factor. The
index has already rallied substantially in last three months without
any major correction, so such intermediate corrective move is an
integral part of the market. Going ahead, we may see some
consolidation or minor profit taking moves; but the undertone
remains bullish and we would continue with our ‘buy on dips’
strategy in the market. The immediate support zone is seen
around 9160 - 9114 for the forthcoming session. On the flipside,
9250 - 9268 levels would remain as intraday resistances.
Key Levels
Support 1 - 9160
Resistance 1 - 9250
Support 2 - 9114
Resistance 2 - 9268
Nifty Bank Outlook - (21431)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index too opened marginally negative on Friday
due to the negative global cues. The index thereafter traded in a
narrow range and ended the session with a loss of 0.89 percent.
If we observe the weekly charts, the last week's trading actions
clearly defines a range bound move as the Nifty Bank index
oscillated in a range of 300 points and ended the week with
negligible loss. Inspite of the minor correction on Friday, the Nifty
Bank index has not given any signs of reversal and thus, this
should just be termed as a corrective move within an uptrend.
Since last few months, the '20DEMA' has acted as crucial support
for the index which is placed around 21200. Hence, till the index
trade above the mentioned support on closing basis, traders
should continue to trade with positive bias. The intraday supports
for the Nifty Bank index are placed around 21337 and 21200
whereas resistance is seen in the range of 21542-21600.
Key Levels
Support 1 - 21337
Resistance 1 - 21542
Support 2 - 21200
Resistance 2 - 21600
www.angelbroking.com
Technical & Derivatives Report
April 10, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.18%
BankNifty futures open interest has decreased by 0.32%
as market closed at 9198.30 levels.
The Nifty April future closed with a premium of 13.15
points against the premium of 10.30 points in last
trading session. The May series closed at a premium of
37.45 points.
The Implied Volatility of at the money options has
increased from 9.83% to 10.25%. At the same time, the
PCR-OI of Nifty has decreased from 1.08 to 1.04 levels.
The total OI of the market is Rs. 2,81,931/- cr. and the
stock futures OI is Rs. 97,543/- cr.
Few of the liquid counters where we have seen high cost
of carry are NHPC, MFSL, JINDALSTEL, ICIL and
TORNTPHARM.
Views
On Friday, FIIs were net sellers in both cash market
OI Gainers
segment and index futures. They sold equities worth Rs.
OI
PRICE
262 crores. While, in index futures they were net sellers
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
to the tune of Rs. 509 crores with marginal change in
UJJIVAN
8205600
60.93
393.40
-2.01
open interest, suggesting blend of long unwinding and
DALMIABHA
238200
45.42
2162.45
2.61
some short formation in previous trading session.
INDIANB
1098000
28.57
270.25
-3.84
In index options, FIIs were net buyers of Rs. 910 crores
MFSL
3913000
25.34
633.40
5.09
with good amount of rise in open interest. In call option,
PVR
232800
24.09
1530.90
1.44
9200-9400 strikes remained quite active and they also
EQUITAS
7664000
18.51
165.35
-2.22
added good amount of positions. While, on the flip side,
CADILAHC
3787200
15.07
455.45
1.46
we hardly saw any relevant build-up in put option.
TVSMOTOR
5782000
14.18
468.40
3.09
However, some unwinding was observed in 9000 put
options. Highest open interest in April series is placed at
9500 call and 9000 put option.
OI Losers
OI
PRICE
Last week, the Nifty remained range bound and we
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
didn’t witness any meaningful activity on open interest
IBREALEST
29650000
-14.11
88.40
-3.23
front. Friday’s fall was also not supported by any short
CONCOR
1250000
-11.89
1120.85
6.35
formation, which is positive sign for the index. At current
JSWSTEEL
44127000
-9.72
200.60
-2.07
juncture, Nifty is hovering near a strong support zone of
BPCL
11086800
-9.23
675.70
4.45
9150-9200 levels and taking into consideration the
M&MFIN
12277500
-8.41
334.80
0.15
overall data we continue to remain cheerful on market.
BHARATFIN
20785000
-8.03
789.40
1.57
Thus, we suggest traders to buy 9300 call options to
RELIANCE
14535500
-7.45
1411.55
-1.85
trade for the forthcoming week.
DLF
33610000
-7.19
154.40
-1.78
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CONCOR
39.33
NIFTY
1.04
0.95
BPCL
32.20
BANKNIFTY
0.83
0.85
LUPIN
20.69
RELIANCE
0.68
0.67
TVSMOTOR
31.76
SBIN
0.58
0.69
MFSL
41.28
ICICIBANK
0.56
0.50
www.angelbroking.com
Technical & Derivatives Report
April 10, 2017
FII Statistics for April 07, 2017
Turnover on April 07, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1188.04
1697.00
(508.95)
316564
22545.35
0.76
171113
12879.85
-10.90
FUTURES
FUTURES
INDEX
INDEX
22937.44
22027.61
909.83
832468
58414.14
4.71
2739351
212878.88
-61.24
OPTIONS
OPTIONS
STOCK
7049.88
6486.38
563.51
1186051
80446.03
(0.48)
STOCK
FUTURES
657698
49319.53
3.48
FUTURES
STOCK
STOCK
5275.63
5327.64
(52.01)
64963
4883.61
7.82
373170
28897.02
0.42
OPTIONS
OPTIONS
TOTAL
36451.00
35538.63
912.37
2400046
166289.13
1.64
TOTAL
3941332
303975.28
-52.51
Nifty Spot = 9198.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9200
95.90
Buy
9200
85.20
47.70
52.30
9247.70
33.75
66.25
9166.25
Sell
9300
48.20
Sell
9100
51.45
Buy
9200
95.90
Buy
9200
85.20
75.90
124.10
9275.90
54.80
145.20
9145.20
Sell
9400
20.00
Sell
9000
30.40
Buy
9300
48.20
Buy
9100
51.45
28.20
71.80
9328.20
21.05
78.95
9078.95
Sell
9400
20.00
Sell
9000
30.40
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
www.angelbroking.com
Technical & Derivatives Report
April 10, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,445
1,457
1,473
1,485
1,501
ADANIPORTS
341
344
349
352
356
AMBUJACEM
238
240
243
246
249
ASIANPAINT
1,065
1,074
1,082
1,091
1,099
AUROPHARMA
646
652
661
667
677
AXISBANK
495
500
507
512
520
BAJAJ-AUTO
2,773
2,802
2,824
2,852
2,874
BANKBARODA
163
166
170
173
177
BHEL
629
652
666
689
703
BPCL
337
341
346
350
354
BHARTIARTL
328
338
343
353
358
INFRATEL
22,465
22,646
22,822
23,003
23,179
BOSCH
581
586
590
594
598
CIPLA
277
281
283
287
290
COALINDIA
2,617
2,639
2,676
2,698
2,735
DRREDDY
25,211
25,509
25,749
26,047
26,288
EICHERMOT
380
383
388
391
395
GAIL
1,036
1,047
1,060
1,071
1,084
GRASIM
840
845
852
856
863
HCLTECH
1,421
1,430
1,437
1,446
1,454
HDFCBANK
1,454
1,469
1,482
1,497
1,509
HDFC
3,178
3,196
3,215
3,234
3,253
HEROMOTOCO
189
191
194
197
200
HINDALCO
915
920
926
931
938
HINDUNILVR
937
946
962
972
987
ICICIBANK
271
274
279
282
286
IDEA
380
389
394
403
409
INDUSINDBK
1,391
1,402
1,414
1,424
1,437
INFY
965
973
987
995
1,009
ITC
269
271
273
274
276
KOTAKBANK
856
864
879
888
902
LT
1,643
1,664
1,692
1,713
1,741
LUPIN
1,379
1,395
1,421
1,437
1,463
M&M
1,257
1,266
1,278
1,287
1,299
MARUTI
6,177
6,218
6,277
6,318
6,377
NTPC
165
166
168
170
171
ONGC
184
185
187
188
190
POWERGRID
194
194
195
196
197
RELIANCE
1,383
1,395
1,414
1,426
1,446
SBIN
283
286
291
294
298
SUNPHARMA
648
657
671
680
694
TCS
2,377
2,403
2,418
2,444
2,459
TATAMTRDVR
279
282
285
287
290
TATAMOTORS
458
463
472
477
486
TATAPOWER
85
86
87
88
89
TATASTEEL
481
487
497
503
512
TECHM
434
439
447
451
459
ULTRACEMCO
4,012
4,046
4,100
4,134
4,187
WIPRO
507
509
511
514
516
YESBANK
1,534
1,545
1,561
1,572
1,587
ZEEL
539
543
547
551
555
www.angelbroking.com
Technical & Derivatives Report
April 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]
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