Technical & Derivatives Report
April 11, 2018
Sensex (33880) / Nifty (10402)
Exhibit 1: Nifty Daily Chart
Yesterday, the proceedings for the day began with a gap up
opening beyond 10400, which is certainly a remarkable
achievement after undergoing lot of pain post the Union Budget.
Subsequently, index consolidated in a slender range for the
remaining part; but individual stocks continued their recent
outperformance as we saw decent moves on both sides.
Clearly, the index is getting a bit tired after seeing a decent relief
rally in last 4 - 5 days and importantly as it approaches the
major resistance zone of 10400 - 10500. In our sense, traders
are advised to start booking profits if index enters this territory
and needs to be very agile while picking up the stock. For the
coming session, 10430 - 10478 would be seen as immediate
hurdles; whereas on the downside, 10381 - 10350 is likely to act
as a key support zone.
Yesterday’s small range in the index does not depict the right
picture. There was a perfect balancing act seen from the few
index heavyweights. Couple of major Private banking names,
ICICI and Axis Bank had a stellar move and on the other hand,
HDFC twins restricted the Nifty from extending its move. Going
forward, do watch out for these counters along with Larsen and
Toubro.
Key Levels
Support 1 - 10381
Resistance 1 - 10430
Support 2 - 10350
Resistance 2 - 10478
Nifty Bank Outlook - (25227)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened marginally positive and traded in a
narrow range throughout the session. The index marginally
outperformed the benchmark indices led by the heavyweights
such as Axis Bank (+5.17%) and ICICI Bank (+2.83%).
In spite of such positive momentum in the above-mentioned
heavyweights, the Nifty Bank index did not witness any significant
up move due to the gap resistance in the range of 25192-25356,
which we had mentioned in our yesterday's report. Hence, it
would be crucial for the Nifty Bank index to cross the higher end
of the above-mentioned range for a continuation of the pullback
move. The resistance of 25356 if crossed could then extend the
move up to 25700-25750 whereas a failure to surpass the
resistance could lead to some correction or consolidation again.
We continue with our advice for traders to follow stock-specific
approach and trade with proper risk management.
Key Levels
Support 1 - 25000
Resistance 1 - 25300
Support 2 - 24850
Resistance 2 - 25356
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Technical & Derivatives Report
April 11, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.12%
BankNifty futures open interest has increased by 14.07%
as market closed at 10402.25 levels.
The Nifty April future closed with a premium of 19.25
points against a premium of 14.55 points in last trading
session. The May series closed at a premium of 50.70
points.
The INDIA VIX has decreased from 14.74 to 14.51. At
the same time, the PCR-OI of Nifty has increased from
1.44 to 1.47 level.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, RPOWER, GRANULES, HDIL and
SOUTHBANK.
Views
OI Gainers
FIIs continued their selling streak in cash market
OI
PRICE
segment, they sold to the tune of Rs. 685 crores. While,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
they bought in index futures of worth Rs. 1120 crores
MGL
1857000
43.09
945.05
-3.92
with marginal fall in open interest, indicating mix of
MINDTREE
3115200
22.63
827.75
1.17
some fresh long formation and short covering took place
RAMCOCEM
1342400
17.59
813.15
3.82
in yesterday’s trading session.
BALRAMCHIN
20048000
16.19
79.70
4.99
In index options front, they were net buyers of Rs. 1244
DIVISLAB
2271200
11.16
1143.65
1.52
crores with rise in open interest. As far as Nifty options
AXISBANK
45535200
10.87
546.15
5.23
activities are concerned,
10500 strike added fresh
KOTAKBANK
12295200
10.03
1113.65
-0.46
positions; followed by unwinding in 10300 call options.
NIITTECH
1932000
9.62
885.85
0.26
On the flip side, we saw fresh build-up in 10100- 10400
put options; wherein, 10400 strike added huge positions.
Maximum open interest concentration for April series is
OI Losers
seen in 11000, followed by 10500 call and in put
OI
PRICE
SCRIP
OI
PRICE
options remains firmly placed at 10000 strike price.
CHG. (%)
CHG. (%)
The benchmark index extended its gains to finally
GLENMARK
5409900
-25.68
568.20
0.53
conclude the session above 10400 mark. We believe
ONGC
36705000
-23.82
180.20
1.01
decent amount of shorts in index futures are still intact
INDIGO
3085800
-7.45
1479.80
-0.73
in the system. Now, 10450-10500 is a strong hurdle
PVR
808000
-5.96
1290.10
-0.77
for index and unless we don’t see any relevant
HINDALCO
47435500
-5.20
230.00
3.84
unwinding happening in
10400 and
10500 call
HEROMOTOCO
1482200
-5.10
3718.30
-1.67
options, we won’t see index surpassing the above
REPCOHOME
814500
-4.84
614.90
1.50
resistance zone. Hence, traders are advised to lighten
PAGEIND
39650
-4.69
24948.70
-1.02
up their positions in index and prefer stock specific
approach.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.47
1.05
AXISBANK
42.07
BANKNIFTY
1.68
1.06
MANAPPURAM
45.95
RELIANCE
0.62
0.45
RAMCOCEM
35.72
TATAMOTORS
0.42
0.49
MGL
42.89
SUNPHARMA
0.30
0.40
NMDC
42.42
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Technical & Derivatives Report
April 11, 2018
FII Statistics for April 10, 2018
Turnover on April 10, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2228.76
1108.40
1120.36
195140
15831.02
(0.90)
191459
16842.92
-2.45
FUTURES
FUTURES
INDEX
INDEX
53867.48
52623.51
1243.97
769334
61922.22
0.93
4489135
417298.33
7.09
OPTIONS
OPTIONS
STOCK
8799.12
8304.94
494.19
1098551
77887.14
0.34
STOCK
FUTURES
704205
50262.62
3.51
FUTURES
STOCK
STOCK
5775.31
5717.48
57.83
76531
5443.55
11.31
519898
38237.12
11.31
OPTIONS
OPTIONS
Total
70670.68
67754.34
2916.35
2139556
161083.93
0.79
TOTAL
5904697
522640.99
6.70
Nifty Spot = 10402.25
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
123.00
Buy
10400
103.95
52.35
47.65
10452.35
32.90
67.10
10367.10
Sell
10500
70.65
Sell
10300
71.05
Buy
10400
123.00
Buy
10400
103.95
87.25
112.75
10487.25
55.30
144.70
10344.70
Sell
10600
35.75
Sell
10200
48.65
Buy
10500
70.65
Buy
10300
71.05
34.90
65.10
10534.90
22.40
77.60
10277.60
Sell
10600
35.75
Sell
10200
48.65
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 11, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
374
380
385
392
397
ASIANPAINT
1,144
1,151
1,159
1,165
1,174
AXISBANK
511
528
539
557
567
BAJAJ-AUTO
2,739
2,753
2,776
2,789
2,813
BAJFINANCE
1,892
1,909
1,931
1,948
1,970
BAJAJFINSV
5,274
5,343
5,465
5,534
5,656
BPCL
433
442
448
457
464
BHARTIARTL
370
378
382
390
394
INFRATEL
327
331
336
340
345
CIPLA
550
554
561
565
571
COALINDIA
270
276
279
284
287
DRREDDY
2,058
2,085
2,110
2,137
2,162
EICHERMOT
29,411
29,691
29,931
30,211
30,451
GAIL
328
330
332
334
336
GRASIM
1,067
1,075
1,082
1,090
1,097
HCLTECH
933
941
951
959
970
HDFCBANK
1,896
1,909
1,926
1,938
1,955
HDFC
1,792
1,805
1,828
1,841
1,865
HEROMOTOCO
3,648
3,683
3,749
3,784
3,850
HINDALCO
226
228
230
232
235
HINDPETRO
354
359
365
370
376
HINDUNILVR
1,378
1,385
1,394
1,401
1,410
IBULHSGFIN
1,292
1,308
1,333
1,350
1,374
ICICIBANK
272
280
287
296
303
IOC
175
177
179
181
184
INDUSINDBK
1,829
1,839
1,854
1,864
1,879
INFY
1,095
1,104
1,114
1,123
1,134
ITC
263
265
267
269
270
KOTAKBANK
1,095
1,104
1,120
1,129
1,144
LT
1,317
1,333
1,344
1,361
1,372
LUPIN
774
782
793
801
813
M&M
760
769
777
786
794
MARUTI
9,200
9,236
9,276
9,313
9,352
NTPC
167
168
169
170
171
ONGC
177
179
180
181
182
POWERGRID
195
196
197
198
200
RELIANCE
909
913
918
923
928
SBIN
256
260
262
266
269
SUNPHARMA
502
505
511
514
519
TCS
2,909
2,923
2,940
2,955
2,972
TATAMOTORS
345
349
356
360
367
TATASTEEL
587
595
600
607
612
TECHM
604
615
622
633
640
TITAN
946
954
961
970
977
ULTRACEMCO
3,889
3,910
3,929
3,950
3,969
UPL
739
746
753
759
767
VEDANTA
278
281
286
290
295
WIPRO
273
280
284
290
295
YESBANK
313
316
318
322
324
ZEEL
564
569
574
579
584
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Technical & Derivatives Report
April 11, 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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