Technical & Derivatives Report
January 12, 2017
Sensex (27140) / Nifty (8381)
Exhibit 1: Nifty Daily Chart
Similar to 8200, yet another hurdle of 8300 got thrashed with an
upside gap owing to strong positive cues from Emerging markets.
After a small consolidation, the momentum accelerated in the
upward direction; leading to a strong broad based rally
throughout the day to end the session with decent gains of 1.11%
over its previous close.
With reference to our previous articles, we interpreted three day
consolidation as a breather and continued with our optimistic
stance. Our strategy has played out well and still we expect the
Nifty to extend this rally towards 8400 - 8450 levels. On the
other hand, previous resistance of 8300 would now be seen as a
strong support level for the index. Traders are repeatedly advised
to keep focusing on individual stocks with a positive bias, which
are likely to fetch higher returns as compared to the index.
Key Levels
Support 1 - 8300
Resistance 1 - 8400
Support 2 - 8261
Resistance 2 - 8450
Nifty Bank Outlook - (18830)
Exhibit 2: Nifty Bank Daily Chart
In line with broader market, the Nifty Bank index too opened with
upside gap and started moving higher from initial trades. The
banking index continued to make ‘Higher Highs’ throughout the
session and eventually outperformed the benchmark indices by
posting a close with gains of 2.28 percent over its previous close.
Yesterday, the Nifty Bank index broke its resistance of ‘89 EMA’
(18600) with an ease and closed above its previous swing high of
18739.65. With yesterday’s gain, the banking index erased all its
last month’s loss. Considering the current structure, the index is
poised for an up move towards 19275 levels, which is 61.80%
retracement level of previous down move from 20309.65 to
17606.90. Thus, traders are advised to trade with positive bias.
On the flipside, immediate support for the index is placed at
18600 and 18440 levels.
Key Levels
Support 1 - 18600
Resistance 1 - 19040
Support 2 - 18440
Resistance 2 - 19275
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Technical & Derivatives Report
January 12, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.55%
BankNifty futures open interest has increased by 11.84%
as market closed at 8380.65 levels.
The Nifty January future closed with a premium of 5.25
points against the premium of 5.25 points in last trading
session. The February series closed at a premium of
30.25 points.
The Implied Volatility of at the money options has
decreased from 12.38% to 12.38%. At the same time,
the PCR-OI of Nifty has increased from 1.11 to 1.17
levels.
The total OI of the market is Rs. 2,71,872/- cr. and the
stock futures OI is Rs. 75,704/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, IFCI, ADANIPOWER,
BHARATFORG and TV18BRDCST.
Views
OI Gainers
FIIs continue their selling in cash market segment; they
OI
PRICE
sold equities to the tune of Rs. 627 crores. However, in
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
index futures, they were net buyer worth Rs. 744 crores
DCBBANK
3060000
23.86
116.75
2.59
with rise in open interest, suggesting long build-up took
JINDALSTEL
60282000
17.06
82.25
9.45
place in previous trading session.
PETRONET
5101500
13.86
367.50
1.16
In Index options segment, FIIs were net buyers worth
LICHSGFIN
10754700
11.83
535.05
2.20
Rs. 1044 crores with rise in open interest. In call options,
MRF
37755
11.67
55454.20
4.23
8500 and 8600 strikes added some positions, followed
IBREALEST
34610000
10.36
82.35
2.30
by decent amount of unwinding in 8200 call option.
OIL
2099500
9.88
453.40
-0.13
While, on the other hand, we witness good amount of
ACC
1356400
9.07
1354.75
2.31
build-up in 8200-8400 put options, wherein 8300 put
strike added majority of positions. At current juncture,
OI Losers
highest OI in current series remains intact at 8400 call
OI
PRICE
and 8000 put option.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Yesterday Nifty managed to open above 8300 mark and
IGL
1699500
-5.50
938.90
0.30
remained strong till the end of the day. FIIs too actively
INDIACEM
28255500
-4.98
133.95
3.36
participated in this up move by forming fresh longs in
PIDILITIND
1405000
-4.75
636.10
0.65
both Index and Stock Futures. They also unwounded
HINDZINC
7964800
-4.71
278.80
2.12
decent amount short positions in Stock Futures. Taking
L&TFH
21807000
-4.61
96.85
0.57
into consideration the above data we believe market may
PFC
19158000
-4.34
132.60
2.43
remain strong in coming trading sessions. Thus, traders
IBULHSGFIN
12700800
-4.25
715.70
3.87
are suggested to hold on to their long and trade with
BANKBARODA
35189000
-4.12
159.40
4.22
positive bias.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
COALINDIA
34.97
NIFTY
1.17
1.15
INDUSINDBK
40.65
BANKNIFTY
1.38
0.92
JINDALSTEL
64.01
INFY
0.61
0.62
UNIONBANK
48.59
SBIN
0.57
0.40
SAIL
45.45
MARUTI
1.73
0.99
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Technical & Derivatives Report
January 12, 2017
FII Statistics for January 11, 2017
Turnover on January 11, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2355.50
1611.51
743.99
214454
13850.99
6.12
244747
16827.92
83.53
FUTURES
FUTURES
INDEX
INDEX
38776.18
37732.03
1044.14
997765
64147.01
4.26
6262473
443788.28
160.23
OPTIONS
OPTIONS
STOCK
8216.58
6566.74
1649.84
868135
54919.04
0.64
STOCK
FUTURES
619869
41931.88
35.03
FUTURES
STOCK
STOCK
4853.52
4742.93
110.59
76483
5096.52
17.65
426667
30025.17
56.35
OPTIONS
OPTIONS
TOTAL
54201.77
50653.21
3548.56
2156837
138013.56
3.36
TOTAL
7553756
532573.25
131.59
Nifty Spot = 8380.65
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8400
70.80
Buy
8400
82.85
39.95
60.05
8439.95
36.30
63.70
8363.70
Sell
8500
30.85
Sell
8300
46.55
Buy
8400
70.80
Buy
8400
82.85
59.80
140.20
8459.80
57.05
142.95
8342.95
Sell
8600
11.00
Sell
8200
25.80
Buy
8500
30.85
Buy
8300
46.55
19.85
80.15
8519.85
20.75
79.25
8279.25
Sell
8600
11.00
Sell
8200
25.80
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 12, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,307
1,328
1,341
1,362
1,375
ADANIPORTS
291
294
297
299
302
AMBUJACEM
208
212
214
218
220
ASIANPAINT
913
924
932
943
951
AUROPHARMA
697
701
704
708
711
AXISBANK
444
449
453
458
462
BAJAJ-AUTO
2,679
2,699
2,724
2,744
2,768
BANKBARODA
151
155
158
162
165
BHEL
127
128
129
130
130
BPCL
649
655
661
666
672
BHARTIARTL
316
319
322
325
328
INFRATEL
348
350
354
357
361
BOSCH
20,795
20,995
21,134
21,334
21,474
CIPLA
566
571
575
581
585
COALINDIA
296
306
312
323
329
DRREDDY
3,003
3,023
3,041
3,061
3,080
EICHERMOT
22,754
22,958
23,139
23,343
23,524
GAIL
436
440
444
448
452
GRASIM
844
851
856
863
868
HCLTECH
817
825
835
843
853
HDFCBANK
1,207
1,220
1,229
1,243
1,252
HDFC
1,212
1,221
1,227
1,236
1,242
HEROMOTOCO
3,015
3,050
3,071
3,106
3,127
HINDALCO
163
169
172
178
182
HINDUNILVR
824
833
839
848
854
ICICIBANK
258
262
265
268
271
IDEA
74
74
75
75
76
INDUSINDBK
1,165
1,199
1,219
1,254
1,273
INFY
956
963
971
977
985
ITC
244
246
248
250
252
KOTAKBANK
698
713
723
739
749
LT
1,386
1,399
1,408
1,422
1,431
LUPIN
1,480
1,501
1,513
1,534
1,546
M&M
1,204
1,218
1,228
1,242
1,252
MARUTI
5,660
5,711
5,742
5,793
5,824
NTPC
161
163
164
166
167
ONGC
196
197
198
199
201
POWERGRID
184
187
189
192
195
RELIANCE
1,077
1,081
1,089
1,093
1,100
SBIN
247
250
251
254
256
SUNPHARMA
635
642
646
652
656
TCS
2,262
2,293
2,311
2,343
2,361
TATAMTRDVR
322
324
327
329
332
TATAMOTORS
513
516
520
523
527
TATAPOWER
76
76
77
78
78
TATASTEEL
428
438
445
455
461
TECHM
464
469
474
479
483
ULTRACEMCO
3,262
3,308
3,334
3,379
3,405
WIPRO
471
474
478
480
484
YESBANK
1,255
1,286
1,305
1,336
1,354
ZEEL
462
470
476
484
490
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Technical & Derivatives Report
January 12, 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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