Technical & Derivatives Report
April 12, 2018
Sensex (33940) / Nifty (10417)
Exhibit 1: Nifty Daily Chart
Our markets had a quiet opening with a mildly positive bias
taking cues from the other major Asian peers. However, the index
lost its lead immediately in the first half an hour of the trade to
slide below previous day’s low. Once again, few index
heavyweights came for a rescue and managed to lift the index
higher to close almost at the day’s high.
As we had pointed out in the previous article, the index seems a
bit tired and does not have the similar sort of strength we saw in
last couple of weeks. This is quite evident as it has entered a
strong resistance zone of 10400 - 10500. For the coming
session, 10350 would now be seen as a key support for the Nifty.
A sustainable slide below this would apply brakes on the recent
relief rally. However, having said that if we look at yesterday’s
recovery to close near day’s high, it’s an indication of index
extending this move towards the recent swing high of 10478.
Hence, first half an hour would be quite crucial and traders are
advised to keep a close watch on this development.
Yesterday, although the recovery was mainly led by the IT
conglomerates, there were two other heavyweights who had an
interesting close. First one being the ‘Reliance Industries’, which is
poised for a good trading move and other was Pharmaceutical
marquee name ‘Sun Pharmaceutical’, gearing up for a strong
momentum.
Key Levels
Support 1 - 10377
Resistance 1 - 10450
Support 2 - 10350
Resistance 2 - 10478
Nifty Bank Outlook - (25098)
Exhibit 2: Nifty Bank Daily Chart
In yesterday's trading session, the Nifty Bank index showed some
underperformance as the index traded with a negative bias
throughout the session. Although the index recovered marginally
from its low point in later half of the day, it ended the session with
a loss of 0.51 percent over the previous day's close.
As mentioned in our yesterday's report, the Nifty Bank index has
resisted at the gap area of 25192-25356 and a continuation of
the pullback move would be seen only if the index surpasses the
higher end of the range. 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. For today's session, 24950-24900 is the
support range to watch for. A move below this support would be
negative from a short-term perspective.
Key Levels
Support 1 - 24950
Resistance 1 - 25250
Support 2 - 24900
Resistance 2 - 25356
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Technical & Derivatives Report
April 12, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 4.66%
BankNifty futures open interest has decreased by 2.63%
as market closed at 10417.15 levels.
The Nifty April future closed with a premium of 7.85
points against a premium of 19.25 points in last trading
session. The May series closed at a premium of 36.15
points.
The INDIA VIX has increased from 14.51 to 14.87. At the
same time, the PCR-OI of Nifty has increased from 1.47
to 1.50 level.
Few of the liquid counters where we have seen high cost
of carry are HDIL, NATIONALUM, NHPC, SUNTV and
RNAVAL.
Views
OI Gainers
FIIs were net buyers in cash market segment to the tune
OI
PRICE
of Rs. 362 crores. At the same time, they bought in index
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
futures of worth Rs. 620 crores with rise in open interest,
MGL
4314600
132.34
911.85
-2.67
indicating fresh long formation in yesterday’s trading
BPCL
13188600
19.25
417.30
-7.20
session.
CHENNPETRO
2976000
15.01
335.05
-4.42
In index options front, they were net buyers of Rs. 551
IOC
44265000
13.55
167.35
-6.72
crores with rise in open interest. As far as Nifty options
PAGEIND
44650
12.61
24889.05
1.13
activities are concerned,
10400-10600 call options
TVSMOTOR
3866000
12.48
629.95
-1.56
added decent amount of fresh positions; followed by
BATAINDIA
2835800
12.48
792.40
2.95
huge unwinding in 10700 strike price. On the flip side,
IRB
17295000
10.90
280.65
9.63
we saw fresh build-up in 10200-10400 put options;
wherein, 10400 strike added huge positions. Maximum
open interest concentration for April series is placed at
OI Losers
10500 call and 10000 put options.
OI
PRICE
SCRIP
OI
PRICE
The benchmark index traded in a narrow range to
CHG. (%)
CHG. (%)
conclude the session with marginal gains. We believe
ONGC
36933750
-24.34
182.15
0.83
decent amount of shorts in index futures are still intact
GLENMARK
5689800
-20.92
559.55
-1.59
in the system. Now, 10450-10500 is a strong hurdle
BALRAMCHIN
18305000
-8.69
77.45
-2.94
for index and unless we don’t see any relevant
CASTROLIND
10990000
-5.92
206.30
-1.36
unwinding happening in
10400 and
10500 call
JETAIRWAYS
7116000
-5.06
617.75
-0.54
options, we won’t see index surpassing the above
VGUARD
2091000
-4.26
233.50
0.21
resistance zone. Hence, traders are advised to lighten
MINDTREE
3002400
-3.62
829.95
0.94
up their positions in index and prefer stock specific
CGPOWER
20748000
-3.46
81.70
0.18
approach.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.50
1.08
IRB
59.76
BANKNIFTY
1.41
0.87
BPCL
52.59
RELIANCE
0.72
0.48
HINDPETRO
54.31
TATAMOTORS
0.41
0.36
IOC
50.46
SUNPHARMA
0.34
0.22
CHENNPETRO
48.40
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Technical & Derivatives Report
April 12, 2018
FII Statistics for April 11, 2018
Turnover on April 11, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2015.52
1395.47
620.05
200554
16353.69
2.77
201910
17746.46
5.36
FUTURES
FUTURES
INDEX
INDEX
78229.33
77678.17
551.16
807007
64929.20
4.90
6594846
625183.78
49.82
OPTIONS
OPTIONS
STOCK
8444.62
8645.83
(201.21)
1106718
78497.69
0.74
STOCK
FUTURES
725484
52165.47
3.79
FUTURES
STOCK
STOCK
5399.28
5319.16
80.12
82261
5851.95
7.49
531009
39111.71
2.29
OPTIONS
OPTIONS
Total
94088.76
93038.63
1050.12
2196540
165632.52
2.66
TOTAL
8053249
734207.42
40.48
Nifty Spot = 10417.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
120.20
Buy
10400
100.70
52.50
47.50
10452.50
31.65
68.35
10368.35
Sell
10500
67.70
Sell
10300
69.05
Buy
10400
120.20
Buy
10400
100.70
86.75
113.25
10486.75
53.65
146.35
10346.35
Sell
10600
33.45
Sell
10200
47.05
Buy
10500
67.70
Buy
10300
69.05
34.25
65.75
10534.25
22.00
78.00
10278.00
Sell
10600
33.45
Sell
10200
47.05
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 12, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
368
373
381
386
393
ASIANPAINT
1,134
1,145
1,152
1,163
1,169
AXISBANK
525
532
542
549
559
BAJAJ-AUTO
2,733
2,744
2,762
2,773
2,791
BAJFINANCE
1,860
1,892
1,924
1,956
1,987
BAJAJFINSV
5,277
5,349
5,411
5,483
5,545
BPCL
392
405
428
441
464
BHARTIARTL
379
382
386
390
394
INFRATEL
333
335
338
340
342
CIPLA
556
559
561
564
567
COALINDIA
275
279
282
286
290
DRREDDY
2,065
2,083
2,108
2,126
2,151
EICHERMOT
29,568
30,127
30,483
31,042
31,398
GAIL
315
321
328
334
341
GRASIM
1,047
1,058
1,071
1,082
1,096
HCLTECH
939
953
965
980
992
HDFCBANK
1,900
1,910
1,915
1,924
1,929
HDFC
1,789
1,801
1,814
1,826
1,839
HEROMOTOCO
3,651
3,695
3,725
3,769
3,799
HINDALCO
229
231
234
237
239
HINDPETRO
317
327
345
355
372
HINDUNILVR
1,370
1,390
1,405
1,425
1,440
IBULHSGFIN
1,287
1,300
1,318
1,331
1,350
ICICIBANK
279
282
285
288
290
IOC
158
163
170
175
182
INDUSINDBK
1,829
1,843
1,851
1,865
1,873
INFY
1,109
1,117
1,124
1,132
1,139
ITC
261
263
265
267
270
KOTAKBANK
1,103
1,114
1,122
1,133
1,141
LT
1,331
1,342
1,351
1,361
1,370
LUPIN
772
781
790
799
808
M&M
768
778
785
795
801
MARUTI
9,146
9,224
9,287
9,365
9,428
NTPC
166
167
169
170
172
ONGC
178
180
183
185
188
POWERGRID
195
196
197
198
199
RELIANCE
910
920
927
937
943
SBIN
252
255
259
261
265
SUNPHARMA
506
514
518
526
531
TCS
2,916
2,965
2,995
3,044
3,074
TATAMOTORS
348
352
354
358
361
TATASTEEL
596
602
606
613
617
TECHM
614
624
630
640
646
TITAN
950
965
973
988
996
ULTRACEMCO
3,870
3,897
3,917
3,944
3,964
UPL
732
739
747
754
763
VEDANTA
284
290
294
301
304
WIPRO
281
283
286
289
292
YESBANK
305
308
314
318
324
ZEEL
566
571
574
579
582
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Technical & Derivatives Report
April 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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