Technical & Derivatives Report
April 10, 2018
Sensex (33789) / Nifty (10379)
Exhibit 1: Nifty Daily Chart
Despite some strong sell-off in US markets on Friday, our markets
opened on a subdued note, owing to early morning recovery in
‘Dow Futures’. During the initial hour, a follow up buying across
the board extended last week’s relief rally by more than half a
percent. However, due to continuous profit booking, the index
could not precisely test the 10400 mark.
The Nifty remained in a positive territory throughout the day;
however, the day clearly belongs to the individual stocks. We did
see stock specific moves in both directions, which we believe is
likely to continue as index is now approaching the important
resistance zone of 10400 - 10450. As a momentum trader, one
should strictly adopt a stock centric approach as index enters this
territory. On the downside, 10350 - 10322 would be seen as
important support levels.
With a broader view, we would reiterate that 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 - 10350
Resistance 1 - 10400
Support 2 - 10322
Resistance 2 - 10450
Nifty Bank Outlook - (25094)
Exhibit 2: Nifty Bank Daily Chart
The Banking sector continued the pullback move as the Nifty Bank
index crossed the 25000 mark and ended the session with gains
of 0.98 percent.
The gap area at
25192-25356 created during the recent
corrective move on 28th Feb would be the crucial resistance to
watch for momentum traders. Considering the pullback move
already seen in last few trading sessions, it is prudent to focus on
stock specific moves from a trading perspective. At higher levels,
traders are also advised to timely book profits on existing
positions and maintain proper risk management. While the
above-mentioned range is expected to act as a resistance for
intraday, the support for the index is placed in the range of
24800-24850.
Key Levels
Support 1 - 24850
Resistance 1 - 25192
Support 2 - 24800
Resistance 2 - 25356
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Technical & Derivatives Report
April 10, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.85%
BankNifty futures open interest has decreased by 1.29%
as market closed at 10379.35 levels.
The Nifty April future closed with a premium of 14.55
points against a premium of 45.45 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 decreased from
1.45 to 1.44 level.
Few of the liquid counters where we have seen high cost
of carry are IFCI, RCOM, HCC, NHPC and VGUARD.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
of Rs. 1301 crores. At the same time, they sold in index
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
futures of worth Rs. 232 crores with rise in open interest,
STAR
1369200
35.67
653.75
-1.60
indicating some fresh short formation in yesterday’s
MGL
1297800
30.62
978.70
-3.44
trading session.
MINDTREE
2540400
30.52
822.25
-1.92
In index options front, they were net buyers of Rs. 1391
BALKRISIND
1160000
29.70
1287.70
5.28
crores with rise in open interest. As far as Nifty options
PAGEIND
41600
17.51
24985.25
4.73
activities are concerned, 10400-10700 strikes added
MARICO
5465200
13.74
328.15
1.92
fresh positions; followed by unwinding in 10300 call
PVR
859200
12.40
1298.10
4.16
options. On the flip side, we saw fresh build-up in 10300
ZEEL
8377200
9.74
571.80
-1.94
and
10400 put options. Maximum open interest
concentration for April series is seen in 11000, followed
by 10500 call and in put options remains firmly placed
OI Losers
at 10000 strike price.
OI
PRICE
SCRIP
OI
PRICE
We started the week on a positive note along with
CHG. (%)
CHG. (%)
decent amount of short covering move in individual
GLENMARK
5472900
-22.44
565.10
0.26
stock (especially Public sector banking counters). We
ONGC
36228750
-20.86
178.40
0.70
believe decent amount of shorts in index futures are
IGL
4367000
-8.16
303.50
2.36
still intact in the system. Now, 10450-10500 is a
UBL
968800
-7.86
1003.80
-0.05
strong hurdle for index and we can hardly see any
JUBLFOOD
2148000
-6.26
2453.15
0.78
unwinding happening in
10400 and
10500 call
JETAIRWAYS
7825200
-6.02
630.15
1.26
options. Thus, traders are advised to lighten up their
BANKINDIA
24396000
-5.73
116.05
2.56
positions in index and prefer stock specific approach.
HINDZINC
11299200
-5.13
313.60
-0.57
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.44
0.99
PVR
33.78
BANKNIFTY
1.67
0.93
AXISBANK
35.93
RELIANCE
0.62
0.40
BALKRISIND
53.06
TATAMOTORS
0.48
0.52
RAYMOND
48.45
SUNPHARMA
0.31
0.35
BPCL
40.27
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Technical & Derivatives Report
April 10, 2018
FII Statistics for April 09, 2018
Turnover on April 09, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1455.17
1687.03
(231.85)
196917
15899.40
1.13
196197
17266.60
1.66
FUTURES
FUTURES
INDEX
INDEX
57137.30
55746.17
1391.12
762209
61182.25
1.51
4250142
389657.40
7.47
OPTIONS
OPTIONS
STOCK
8174.33
8632.45
(458.12)
1094830
77286.11
0.53
STOCK
FUTURES
670534
48557.63
-5.32
FUTURES
STOCK
STOCK
5108.52
5120.44
(11.92)
68757
4839.67
12.15
464759
34351.26
-0.29
OPTIONS
OPTIONS
Total
71875.33
71186.09
689.24
2122713
159207.43
1.28
TOTAL
5581632
489832.89
5.27
Nifty Spot = 10379.35
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
115.55
Buy
10300
86.75
48.00
52.00
10448.00
26.10
73.90
10273.90
Sell
10500
67.55
Sell
10200
60.65
Buy
10400
115.55
Buy
10300
86.75
80.05
119.95
10480.05
44.05
155.95
10255.95
Sell
10600
35.50
Sell
10100
42.70
Buy
10500
67.55
Buy
10200
60.65
32.05
67.95
10532.05
17.95
82.05
10182.05
Sell
10600
35.50
Sell
10100
42.70
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 10, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
372
375
379
381
385
ASIANPAINT
1,125
1,141
1,156
1,173
1,188
AXISBANK
493
506
514
527
535
BAJAJ-AUTO
2,745
2,759
2,781
2,795
2,818
BAJFINANCE
1,910
1,927
1,947
1,965
1,985
BAJAJFINSV
5,407
5,484
5,532
5,609
5,656
BPCL
428
439
446
458
465
BHARTIARTL
371
376
381
386
391
INFRATEL
334
336
338
340
342
CIPLA
549
553
559
563
570
COALINDIA
272
273
275
276
278
DRREDDY
2,095
2,108
2,122
2,135
2,148
EICHERMOT
29,544
29,675
29,831
29,961
30,117
GAIL
326
328
332
334
338
GRASIM
1,065
1,072
1,083
1,090
1,101
HCLTECH
940
947
955
961
969
HDFCBANK
1,907
1,923
1,932
1,949
1,958
HDFC
1,814
1,825
1,836
1,847
1,858
HEROMOTOCO
3,762
3,780
3,794
3,812
3,826
HINDALCO
211
216
220
225
229
HINDPETRO
349
358
364
373
378
HINDUNILVR
1,356
1,374
1,385
1,403
1,414
IBULHSGFIN
1,303
1,324
1,353
1,375
1,404
ICICIBANK
270
276
280
285
289
IOC
172
176
178
182
185
INDUSINDBK
1,809
1,834
1,852
1,877
1,895
INFY
1,095
1,103
1,115
1,123
1,134
ITC
259
262
264
268
270
KOTAKBANK
1,101
1,110
1,124
1,132
1,146
LT
1,311
1,320
1,326
1,335
1,341
LUPIN
774
784
801
811
828
M&M
763
775
781
793
800
MARUTI
9,138
9,216
9,262
9,339
9,385
NTPC
168
169
170
171
172
ONGC
175
177
178
180
181
POWERGRID
195
195
196
197
197
RELIANCE
909
913
916
919
922
SBIN
255
258
260
263
265
SUNPHARMA
502
506
512
517
522
TCS
2,886
2,905
2,934
2,953
2,983
TATAMOTORS
350
354
361
366
373
TATASTEEL
576
581
588
593
601
TECHM
608
611
617
620
626
TITAN
935
948
960
973
985
ULTRACEMCO
3,858
3,888
3,932
3,962
4,005
UPL
737
744
755
762
773
VEDANTA
274
278
284
287
293
WIPRO
282
284
285
286
288
YESBANK
311
314
317
319
322
ZEEL
558
565
577
584
597
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Technical & Derivatives Report
April 10, 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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