Technical & Derivatives Report
December 11, 2017
Sensex (33250) / Nifty (10266)
On Friday, our markets witnessed a gap up opening following
Exhibit 1: Nifty Daily Chart
previous session recovery from sub-10100 levels and owing to
favorable global cues. In fact, the index started marching right
from the word go and eventually managed to extend up move to
reclaim the 10250 mark.
Looking at previous session recovery, yet another bout of
optimism was clearly on cards. However, due to strong
momentum the index managed to surpass our expected
resistance of 10220 convincingly. We have to accept such moves
especially when the higher degree undertone is still bullish. Going
ahead, we continue to remain a bit cautious when it comes to
near term outlook. The ‘Lower Top Lower Bottom’ formation is
visible and as per the ‘Dow Theory’, any move in the opposite
direction of this structure is considered as a pull back or a
retracement. Hence, going by this rule, we construe this as a
relief rally and expect the index to face strong selling pressure at
higher levels. For the coming session, 10273 - 10312 would be
seen as immediate hurdles; whereas, on the lower side, 10220 -
10180 needs to be tracked quite closely. Traders are advised not
to get carried away by this momentum and rather use such relief
rallies to exit existing long positions.
Key Levels
Support 1 - 10220
Resistance 1 - 10273
Support 2 - 10180
Resistance 2 - 10312
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (25321)
The Nifty Bank index opened gap up on Friday and rallied higher
along with the broader markets. In last two trading sessions, the
index recovered from the lower levels and ended with weekly
gains of 0.51 percent.
In the recent corrective move, we were of the opinion that the
Nifty Bank index would probably correct upto its '89DEMA'
support which was placed around 24700. However, the index
made a low of 24813.60 and pulled back higher in the last two
sessions, Now, owing to this pullback move, the '89EMA' has
shifted higher and is now placed around the last weeks low. Thus,
24800 now becomes a crucial support as this low now also
coincides with the mentioned average. On analyzing the lower
time chart, we interpret this upmove as a pullback move which
has almost retraced 50% of the recent correction. The index is
likely to resist in the range of 25385-25465 and hence we advise
traders to avoid fresh longs at this juncture.
Key Levels
Support 1 - 25250
Resistance 1 - 25385
Support 2 - 25150
Resistance 2 - 25465
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Technical & Derivatives Report
December 11, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.72%
BankNifty futures open interest has decreased by 11.57%
as market closed at 10265.65 levels.
The Nifty December future closed with a premium of 26
points against a premium of 36.25 points in last trading
session. The January series closed at a premium of
58.05 points.
The INDIA VIX has decreased from 14.27 to 13.67. At
the same time, the PCR-OI of Nifty has increased from
1.17 to 1.26 level.
Few of the liquid counters where we have seen high cost
of carry are NHPC, GMRINFRA, JPASSOCIAT,
ADANIENT and MUTHOOTFIN.
Views
FIIs were net sellers in both cash market segment and
index futures. They sold equities to the tune of Rs. 675
OI Gainers
crores. At the same time, they were sellers in index
OI
PRICE
futures of Rs. 745 crores with rise in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating continuation of short formation on Friday's
PIDILITIND
1196000
29.16
893.85
4.94
trading session.
BALKRISIND
535600
20.41
2388.65
6.69
In index options front, they were buyers of Rs. 2194
JPASSOCIAT
244256000
18.88
18.15
6.45
crores with rise in open interest. In call options, we hardly
CHENNPETRO
2625000
16.67
412.45
0.77
saw any strike adding relevant position; however, good
MINDTREE
2248800
15.75
549.20
-1.78
amount of unwinding was seen in 10100-10200 and
NBCC
9213000
14.68
260.90
1.77
10400-10500 call options. On the flip side, 10200 put
PAGEIND
31650
11.84
22383.30
0.12
option added huge positions.
UNIONBANK
16036000
10.35
156.45
-1.04
It was indeed a volatile week for our market as the index
extended its loss for first two trading sessions; however,
strong recovery from the support zone thereafter led
OI Losers
index closing above 10250 mark. Surprisingly, open
OI
PRICE
interest activity in the index doesn't reflect any relevant
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
long formation despite a strong upmove. We believe
HAVELLS
3804000
-14.90
537.80
1.81
majority of the positions formed during the series are on
JETAIRWAYS
7242000
-11.05
667.60
-4.66
short side and are still intact. FIIs have also added good
GODREJIND
2838000
-5.68
592.60
1.37
amount of shorts in index futures segment; as a result,
NESTLEIND
141600
-5.60
7914.55
1.31
their ‘Long Short Ratio’ has plunged from 68% to 52%.
MFSL
3582000
-5.39
553.15
1.86
Considering the above data points, we believe market
VGUARD
2913000
-4.99
237.80
1.45
may attract fresh selling going ahead; thus, traders are
SIEMENS
973500
-4.93
1180.90
1.42
advised to exit for their existing longs and buy put
HDIL
40123000
-4.33
57.30
-1.21
options at bounce. At present, the earlier support of
10300-10350 may act as a hurdle; while, support is
placed around 10000 mark.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.26
0.89
ITC
22.66
BANKNIFTY
1.47
0.80
INDIGO
33.59
RELIANCE
0.43
0.48
AJANTPHARM
58.67
TATAMOTORS
0.38
0.29
PIDILITIND
33.06
INFY
0.71
0.59
BALKRISIND
54.40
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Technical & Derivatives Report
December 11, 2017
FII Statistics for December 08, 2017
Turnover on December 08, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2325.92
3070.87
(744.95)
209519
16879.85
2.43
186644
16018.38
-11.69
FUTURES
FUTURES
INDEX
INDEX
38468.91
36274.84
2194.06
1160776
92304.21
2.33
3102411
275148.63
-74.40
OPTIONS
OPTIONS
STOCK
7941.39
7722.28
219.11
1022646
71439.32
1.20
STOCK
FUTURES
654239
47748.14
13.54
FUTURES
STOCK
STOCK
6040.74
6073.85
(33.10)
58097
4240.78
9.44
434261
32616.95
16.50
OPTIONS
OPTIONS
Total
54776.96
53141.84
1635.12
2451038
184864.16
2.02
TOTAL
4377555
371532.10
-68.05
Nifty Spot = 10265.65
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10300
112.00
Buy
10200
85.40
45.15
54.85
10345.15
25.40
74.60
10174.60
Sell
10400
66.85
Sell
10100
60.00
Buy
10300
112.00
Buy
10200
85.40
75.15
124.85
10375.15
43.45
156.55
10156.55
Sell
10500
36.85
Sell
10000
41.95
Buy
10400
66.85
Buy
10100
60.00
30.00
70.00
10430.00
18.05
81.95
10081.95
Sell
10500
36.85
Sell
10000
41.95
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 11, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
388
391
394
396
400
AMBUJACEM
261
265
267
271
274
ASIANPAINT
1,116
1,126
1,140
1,149
1,163
AUROPHARMA
664
668
673
677
682
AXISBANK
533
538
541
546
549
BAJAJ-AUTO
3,178
3,195
3,218
3,235
3,257
BAJFINANCE
1,673
1,688
1,698
1,713
1,723
BPCL
492
503
510
521
527
BHARTIARTL
508
517
524
532
539
INFRATEL
367
370
376
379
385
BOSCHLTD
19,183
19,367
19,662
19,845
20,140
CIPLA
586
595
601
609
615
COALINDIA
261
263
264
266
268
DRREDDY
2,162
2,174
2,191
2,203
2,220
EICHERMOT
28,308
28,654
28,946
29,292
29,584
GAIL
468
475
488
495
507
HCLTECH
859
865
869
874
878
HDFCBANK
1,797
1,819
1,836
1,858
1,875
HDFC
1,649
1,666
1,677
1,694
1,705
HEROMOTOCO
3,470
3,495
3,531
3,556
3,592
HINDALCO
234
237
240
243
247
HINDPETRO
402
415
423
436
443
HINDUNILVR
1,277
1,302
1,316
1,341
1,356
IBULHSGFIN
1,176
1,191
1,200
1,215
1,224
ICICIBANK
305
308
310
313
315
IOC
386
395
401
411
416
INDUSINDBK
1,640
1,655
1,671
1,686
1,701
INFY
989
996
1,001
1,008
1,013
ITC
250
256
260
266
269
KOTAKBANK
999
1,004
1,008
1,013
1,017
LT
1,212
1,216
1,222
1,226
1,231
LUPIN
803
813
821
831
839
M&M
1,373
1,380
1,387
1,395
1,401
MARUTI
8,800
8,921
9,020
9,141
9,240
NTPC
176
178
180
182
184
ONGC
176
178
180
182
184
POWERGRID
198
201
202
205
206
RELIANCE
908
914
926
932
944
SBIN
308
311
315
317
321
SUNPHARMA
506
514
519
527
532
TCS
2,567
2,584
2,615
2,632
2,663
TATAMOTORS
403
407
410
415
418
TATASTEEL
670
684
699
713
728
TECHM
489
493
496
500
503
ULTRACEMCO
4,047
4,106
4,144
4,203
4,241
UPL
715
722
729
736
743
VEDANTA
282
287
292
296
301
WIPRO
279
281
284
285
288
YESBANK
309
311
313
315
318
ZEEL
549
556
567
575
586
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Technical & Derivatives Report
December 11, 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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