Technical & Derivatives Report
February 12, 2018
Sensex (34006) / Nifty (10455)
Exhibit 1: Nifty Daily Chart
Once again we witnessed a jaw-dropping fall of more than 1000
points in ‘Dow Jones’ on Thursday night. This certainly had a
strong rub off effect on its other global peers and we were of no
exception to this. After a decent recovery on Thursday, our
markets opened with a huge downside gap of nearly 150 points
on Friday. However, the overall intraday activity was not as
intimidating as one would have worried of. Eventually, due to a
modest recovery, the Nifty closed tad above the 10450 mark.
As we all know, markets find its own reasons to correct and this
time too, the global markets became the major culprits for
drawing this correction. With reference to previous articles, the
short term tide has now turned lower and looking at the ‘Bearish
Engulfing’ pattern on weekly chart; we do not expect any relief
soon in the market. Yes, due to oversold conditions, we may see
intermediate bounce backs in the market; but, with a slightly
broader perspective, all these relief rallies are likely to get sold
into. As far as levels are concerned, the index has managed to
hold its key short term average (89 EMA) placed at 10447. In
case of a bounce back, 10540 - 10650 would be seen as
Hence, one should avoid taking any kind of undue risks and
immediate resistances; whereas a move below 10398 would
should rather remain light on positions. In fact, it would be a
reinforce the selling pressure towards 10300 - 10200 levels. At
prudent ploy to stay light and avoid making any kind of
present, markets are undergoing much awaited (and required)
bottom fishing till the definite signals emerge.
correction. We reiterate that traders need to be very selective as
the volatility is likely to remain on the higher side and also with
Key Levels
such global issues; the opening direction is mainly dictated by the
Support 1 - 10398
Resistance 1 - 10540
overnight cues from the global markets.
Support 2 - 10300
Resistance 2 - 10614
Nifty Bank Outlook - (25464)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index witnessed price correction
along with the broader markets and ended the week with a loss
of 3.73% over its previous week's close.
Although there was significant volatility seen during the week on
both sides of the trade, the broader trend remained negative post
a gap down opening on last Monday, which was left unfilled.
With the private sector heavyweights showing no positive signs,
there could be continuation of a price and time correction in near
term. The mentioned gap which is placed in the range of 25918-
26365 could now become a resistance for short term as several
other indicators such as 'hourly
200 SMA' and retracement
resistance coincides with this gap. On the flipside, a continuation
of the corrective move could lead the index lower towards the
25000 mark. Hence, we continue with our advice for traders to
remain light on positions and avoid taking undue risks.
Key Levels
Support 1 - 25280
Resistance 1 - 25650
Support 2 - 25170
Resistance 2 - 25740
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Technical & Derivatives Report
February 12, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 6.12%
BankNifty futures open interest has decreased by 1.71%
as market closed at 10454.95 levels.
The Nifty February future closed with a premium of
14.75 points against a discount of 4.60 points in last
trading session. The March series closed at a premium of
34.90 points.
The INDIA VIX has decreased from 17.77 to 19.23. At
the same time, the PCR-OI of Nifty remains unchanged
at 1.09 level.
Few of the liquid counters where we have seen high cost
of carry are CADILAHC, IDBI, REPCOHOME, ALBK and
HCC.
Views
FIIs continued selling in cash market segment to the tune
OI Gainers
of Rs. 1352 crores. While, they were net sellers in index
OI
PRICE
futures of Rs.
2558 crores with rise open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating formation of fresh short positions in last
HINDZINC
14524800
11.01
304.75
5.56
trading session.
GLENMARK
6912000
9.37
537.05
-7.28
In index options front, they net buyers of Rs. 2211 crores
BATAINDIA
2994200
8.88
717.85
0.55
with rise in open interest. In Nifty call options, OI build
ADANIENT
17288000
8.02
210.70
2.78
up was seen in 10400 - 10700 strikes, whereas in put
SRTRANSFIN
2309400
7.78
1316.70
-1.79
options 10100-10200 and 10400 strikes added fresh
ADANIPORTS
12610000
7.53
400.40
-1.54
positions along with unwinding in
10500 -
10800
INDUSINDBK
7332900
7.19
1650.75
-1.23
strikes.
Now, maximum open interest concentration
SAIL
77184000
6.76
94.05
8.85
stood at 11100 call and 10000 put options.
During the week, Nifty extended its losses and corrected
by 2.84% with rise in OI by 10.15%, indicating formation
OI Losers
of fresh short positions. Meanwhile, FII’s too added
OI
PRICE
SCRIP
OI
PRICE
further short positions in the index Fut. segment resulting
CHG. (%)
CHG. (%)
decline in their ‘Long-Short Ratio’ from 66% to 47%.
ACC
1907600
-7.20
1664.55
-1.92
After a long time, this ratio has gone below
50%,
CEATLTD
1389150
-6.66
1550.00
1.26
suggesting they have more of short positions in the
PIDILITIND
1163000
-6.36
881.25
-0.43
system now. In Nifty options front, they bought index put
SUNTV
4182000
-6.17
971.15
-2.82
options long with writing in index call options.
AJANTPHARM
821000
-5.47
1418.40
1.33
Considering the quantum of short formations, we may
FORTIS
47047000
-4.82
148.65
17.98
index correcting further upto 10300-10200 and hence
JISLJALEQS
34119000
-4.75
118.00
2.48
any pullback move towards the resistance zone of
APOLLOTYRE
10479000
-4.72
271.25
0.15
10600-10700 shall be an opportunity to buy index put
options.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.09
0.88
GLENMARK
46.76
BANKNIFTY
0.96
0.72
FORTIS
108.19
RELIANCE
0.36
0.38
SAIL
66.42
ITC
0.33
0.33
HINDZINC
46.11
TATAMOTORS
0.38
0.52
TORNTPHARM
32.83
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Technical & Derivatives Report
February 12, 2018
FII Statistics for February 09, 2018
Turnover on February 09, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2681.28
5238.86
(2557.57)
249201
20169.22
8.60
329066
28268.52
-4.90
FUTURES
FUTURES
INDEX
INDEX
68066.17
65855.65
2210.53
1038358
83704.31
3.69
4642025
405288.61
-68.80
OPTIONS
OPTIONS
STOCK
9325.27
9972.90
(647.64)
1094098
77773.81
0.61
STOCK
FUTURES
753136
53950.15
-7.45
FUTURES
STOCK
STOCK
7122.66
6930.64
192.02
108684
7970.18
4.31
527397
40601.54
1.98
OPTIONS
OPTIONS
Total
87195.38
87998.04
(802.66)
2490341
189617.52
2.80
TOTAL
6251624
528108.82
-62.99
Nifty Spot = 10454.95
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10500
126.95
Buy
10400
122.20
44.50
55.50
10544.50
30.80
69.20
10369.20
Sell
10600
82.45
Sell
10300
91.40
Buy
10500
126.95
Buy
10400
122.20
77.10
122.90
10577.10
54.10
145.90
10345.90
Sell
10700
49.85
Sell
10200
68.10
Buy
10600
82.45
Buy
10300
91.40
32.60
67.40
10632.60
23.30
76.70
10276.70
Sell
10700
49.85
Sell
10200
68.10
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
February 12, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
391
395
398
402
406
AMBUJACEM
252
255
259
262
265
ASIANPAINT
1,083
1,107
1,125
1,148
1,166
AUROPHARMA
572
581
589
598
606
AXISBANK
545
551
557
563
568
BAJAJ-AUTO
3,046
3,073
3,108
3,134
3,169
BAJFINANCE
1,600
1,619
1,637
1,657
1,675
BPCL
463
469
475
481
486
BHARTIARTL
411
417
425
431
440
INFRATEL
333
337
343
347
353
BOSCHLTD
19,148
19,315
19,447
19,614
19,746
CIPLA
583
602
614
633
645
COALINDIA
290
295
300
305
310
DRREDDY
2,104
2,149
2,178
2,223
2,253
EICHERMOT
27,363
27,555
27,753
27,945
28,143
GAIL
449
456
460
467
471
HCLTECH
904
934
952
982
1,000
HDFCBANK
1,832
1,841
1,853
1,861
1,873
HDFC
1,751
1,762
1,773
1,784
1,794
HEROMOTOCO
3,505
3,525
3,551
3,572
3,597
HINDALCO
234
239
242
247
250
HINDPETRO
378
387
396
405
414
HINDUNILVR
1,300
1,317
1,328
1,345
1,356
IBULHSGFIN
1,252
1,270
1,285
1,303
1,317
ICICIBANK
320
323
326
329
332
IOC
372
375
379
382
386
INDUSINDBK
1,624
1,637
1,648
1,661
1,672
INFY
1,098
1,103
1,112
1,118
1,126
ITC
266
269
271
273
275
KOTAKBANK
1,018
1,025
1,035
1,042
1,053
LT
1,305
1,317
1,330
1,342
1,355
LUPIN
787
804
817
835
847
M&M
737
744
748
755
760
MARUTI
8,814
8,875
8,931
8,992
9,047
NTPC
159
161
163
165
166
ONGC
182
185
187
190
193
POWERGRID
190
191
193
195
196
RELIANCE
879
889
895
905
911
SBIN
292
294
297
300
303
SUNPHARMA
564
573
580
589
596
TCS
2,857
2,914
2,954
3,012
3,051
TATAMOTORS
365
367
370
372
375
TATASTEEL
649
667
678
697
708
TECHM
582
589
596
602
609
ULTRACEMCO
4,011
4,082
4,125
4,196
4,239
UPL
693
701
708
716
723
VEDANTA
300
308
314
323
329
WIPRO
281
283
286
288
291
YESBANK
320
323
327
330
334
ZEEL
571
576
580
585
590
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Technical & Derivatives Report
February 12, 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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