Technical & Derivatives Report
May 10, 2018
Sensex (35319) / Nifty (10742)
Exhibit 1: Nifty Daily Chart
Our benchmark index showed some nervousness in the opening
trades. This was mainly on the back of rising concerns over Brent
crude crossing the $75 mark. However, it was merely a formality
as we saw all these nerves getting absorbed within few minutes to
resume the recent optimism. Index then gradually marched
higher and went on to reclaim the 10750 mark. A minor profit
booking at higher levels eventually pulled index tad lower from its
intraday highs.
Overall, there was some boredom seen in the market yesterday
and this was very much on our expected lines. In fact, due to
yesterday’s early morning recovery, 10690 has now earned great
amount of respect from traders. Hence, going forward, optimistic
traders should shift their stop losses at 10690. On the higher
side, as of now we do not see any convincing signal which will
enforce some sort of strength to surpass the strong resistance
zone of 10780 - 10800 levels. Since, index has stuck in a range;
it’s advisable to remain light around the higher band and should
ideally focus on individual stocks, which may offer better trading
opportunities in the consolidation phase.
Similar to Tuesday, the banking index once again proved its
significance as we saw continuation of the relentless rally towards
the 26200 mark. However, some hint of profit booking seen in
banking conglomerates around it, which we believe makes
26200 as a key level in the coming trading session.
Key Levels
Support 1 - 10690
Resistance 1 - 10780
Support 2 - 10640
Resistance 2 - 10800
Nifty Bank Outlook - (26154)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened with a gap down of 100 points in
yesterday's session. However, the index recovered the losses and
gradually moved higher to end the day with minor gains of 0.25
percent.
On historical charts, it is seen that the Nifty Bank index had
created a downside gap during the first week of February in the
range of 26215-26365. The index almost tested the lower end of
this range yesterday, which we also had given as a target zone
post the recent breakout. As per the gap theory, this range could
now act as resistance and hence, we advise traders to book
profits on the existing longs in this range. The near-term support
for the index is placed in the range of 25900-25850.
Key Levels
Support 1 - 25900
Resistance 1 - 26215
Support 2 - 25850
Resistance 2 - 26365
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Technical & Derivatives Report
May 10, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.76%
BankNifty futures open interest has increased by 3.54%
as market closed at 10741.70 levels.
The Nifty May future closed with a premium of 27.60
points against a premium of 17.25 points in last trading
session. The June series closed at a premium of 35.30
points.
The INDIA VIX has increased from 13.76 to 14.05. At the
same time, the PCR-OI of Nifty has increased from 1.56
to 1.61 level.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, SOUTHBANK, HCC, PVR and
TV18BRDCST.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 704 crores. In index futures segment, they were net
CHG. (%)
CHG. (%)
KAJARIACER
2204800
32.06
530.05
0.06
buyers of Rs. 217 crores with good amount of rise in OI,
CHOLAFIN
1010500
26.47
1602.05
-3.76
indicating formation of fresh longs in yesterday’s session.
In index options front, they were buyers of Rs. 577 crores
AMBUJACEM
12472500
17.64
224.65
-1.99
with rise in open interest. In call options, except for some
STAR
2827200
14.17
572.95
3.76
build-up in 10850 strike, we hardly saw any relevant OI
APOLLOHOSP
873500
12.49
1045.50
-2.21
addition. However, we continue seeing unwinding in
ARVIND
7056000
11.57
438.40
4.47
10800 and 11000 call options. On the flip side, 10600
IDBI
63180000
10.90
68.60
2.22
& 10700 put options added some fresh positions.
ESCORTS
3737800
10.00
966.10
-1.07
Maximum OI concentration remains intact in 11000 call
and 10500 put options.
OI Losers
The benchmark index opened slightly lower; but soon we
saw buying interest which once again bought index
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
above 10750 mark . Eventually, index ended the session
GLENMARK
5963500
-24.34
526.25
0.53
with gains of 24 points. In index futures front, we saw
ORIENTBANK
17598000
-21.32
87.35
-1.51
fresh long formation; especially in BankNifty as we have
JUBLFOOD
2552250
-11.16
2555.10
-0.30
been seeing meaningful long formation in May series . At
DALMIABHA
690000
-6.39
2764.45
-3.77
the same time, decent amount of longs formed earlier
TATAMTRDVR
24114300
-6.33
197.45
4.00
are also intact; whereas in options front, stronger hands
NIITTECH
3099750
-4.84
1059.15
-0.07
are now writing index put options. Considering the above
EXIDEIND
9224000
-4.04
261.45
-0.77
data, we expect further upside in near term. Thus, traders
ICICIPRULI
7026500
-3.83
450.10
1.62
are advised to trade with a positive bias unless we don’t
see relevant unwinding of existing longs in the system.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TATAMTRDVR
33.68
NIFTY
1.61
1.03
ARVIND
39.26
BANKNIFTY
1.57
1.05
DALMIABHA
36.88
INFY
0.64
0.40
GODREJCP
29.55
ICICIBANK
1.42
0.92
CHOLAFIN
40.70
TATAMOTORS
0.56
0.36
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Technical & Derivatives Report
May 10, 2018
FII Statistics for May 09, 2018
Turnover on May 09, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1650.49
1433.74
216.75
183052
15574.67
5.29
148982
13500.66
-8.87
FUTURES
FUTURES
INDEX
INDEX
65117.92
64541.29
576.63
800211
66851.08
3.40
5574828
557175.61
27.48
OPTIONS
OPTIONS
STOCK
8204.52
8094.86
109.67
1175993
82864.79
0.77
STOCK
FUTURES
683297
46129.76
-16.04
FUTURES
STOCK
STOCK
5012.88
4996.79
16.09
108187
7776.13
4.05
480514
34070.95
-20.72
OPTIONS
OPTIONS
Total
79985.82
79066.69
919.14
2267443
173066.67
2.19
TOTAL
6887621
650876.98
18.39
Nifty Spot = 10741.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10700
177.45
Buy
10700
113.75
58.20
41.80
10758.20
30.50
69.50
10669.50
Sell
10800
119.25
Sell
10600
83.25
Buy
10700
177.45
Buy
10700
113.75
103.00
97.00
10803.00
53.85
146.15
10646.15
Sell
10900
74.45
Sell
10500
59.90
Buy
10800
119.25
Buy
10600
83.25
44.80
55.20
10844.80
23.35
76.65
10576.65
Sell
10900
74.45
Sell
10500
59.90
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
May 10, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
407
410
413
416
418
ASIANPAINT
1,185
1,204
1,216
1,235
1,248
AXISBANK
532
540
545
553
558
BAJAJ-AUTO
2,841
2,857
2,881
2,896
2,920
BAJFINANCE
1,826
1,838
1,856
1,868
1,887
BAJAJFINSV
5,270
5,310
5,352
5,392
5,434
BPCL
373
379
383
389
394
BHARTIARTL
391
397
403
409
415
INFRATEL
319
322
325
328
331
CIPLA
579
584
590
594
600
COALINDIA
265
266
268
269
271
DRREDDY
2,043
2,054
2,069
2,080
2,096
EICHERMOT
29,812
30,064
30,402
30,654
30,992
GAIL
335
338
342
345
348
GRASIM
1,075
1,085
1,091
1,101
1,108
HCLTECH
912
920
928
936
944
HDFCBANK
1,947
1,963
1,972
1,987
1,996
HDFC
1,872
1,885
1,895
1,908
1,918
HEROMOTOCO
3,608
3,631
3,658
3,681
3,708
HINDALCO
230
234
241
245
253
HINDPETRO
283
294
301
312
319
HINDUNILVR
1,473
1,485
1,498
1,509
1,523
IBULHSGFIN
1,222
1,229
1,238
1,245
1,254
ICICIBANK
301
304
307
310
313
IOC
158
163
165
170
172
INDUSINDBK
1,847
1,863
1,876
1,893
1,906
INFY
1,156
1,164
1,170
1,177
1,184
ITC
280
281
283
284
285
KOTAKBANK
1,224
1,238
1,246
1,260
1,269
LT
1,352
1,364
1,373
1,385
1,395
LUPIN
747
754
767
775
787
M&M
846
853
861
868
876
MARUTI
8,649
8,684
8,739
8,774
8,829
NTPC
168
169
171
172
173
ONGC
180
181
184
185
187
POWERGRID
210
211
212
213
215
RELIANCE
952
965
974
987
996
SBIN
245
246
248
250
252
SUNPHARMA
499
503
509
512
518
TCS
3,420
3,455
3,475
3,509
3,529
TATAMOTORS
324
333
340
349
356
TATASTEEL
585
594
602
610
618
TECHM
639
646
656
664
674
TITAN
960
973
984
997
1,009
ULTRACEMCO
3,875
3,921
4,000
4,046
4,125
UPL
716
724
729
736
741
VEDANTA
277
280
285
288
294
WIPRO
267
268
271
273
276
YESBANK
340
344
347
351
353
ZEEL
586
588
592
595
599
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Technical & Derivatives Report
May 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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