Technical & Derivatives Report
July 12, 2017
Sensex (31747) / Nifty (9786)
Exhibit 1: Nifty Daily Chart
Yesterday’s session started on a positive note owing to
cheerful mood across the globe. Subsequently, we saw
extension of previous day’s rally to reach yet another
milestone of 9800. However, as expected, we witnessed some
profit taking at higher levels towards the fag end to trim major
portion of early morning gains.
With reference to our yesterday’s article, we remained
cautious on the market despite previous day’s strong move
beyond the 9750 mark. Considering the bounce back in ‘RSI-
Smoothened’ oscillator towards its breakdown points, we
continue to advise staying light in the market (index specific
longs should be booked). We may sound a bit stubborn but
we do not want to neglect one thing (as stated previously) that
‘the bottoms are made out of panic and corrections take place
in exuberance’. Looking at past couple of day’s action, we
believe that the situation is a bit hunky-dory now and traders
have started becoming too complacent.
Technically speaking, we can now see formation of ‘Shooting
Star’ pattern on daily chart, which certainly does not bode well
for the bulls. Traders should avoid index specific longs as
going ahead 9830 - 9850 would now act as a strong hurdle
for the index. On the flipside, 9700 - 9640 would be seen as
immediate support levels.
Key Levels
Support 1 - 9700
Resistance 1 - 9830
Support 2 - 9640
Resistance 2 - 9850
Nifty Bank Outlook - (23585)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened about
100 points higher
yesterday on the back of positive global cues. Post trading in a
narrow range the index witnessed some selling pressure in last
hour of the session which led to the index close with a loss of
0.25 percent over its previous session's close.
If we observe the BankNifty Fut. index, it has yet not negated
the 'Shooting Star' pattern on the weekly chart. We are
referring to the BankNifty Fut. chart as the Nifty Bank index
spot chart does not clearly depict the Monday's move due to
the technical glitch. Although the Nifty index has breached its
recent high, the BankNifty has shown some underperformance
in the last couple of sessions. Until the mentioned pattern is
negated (which will be the case if BankNifty Fut. crosses
23891), traders should avoid taking a directional bet on the
index and focus on stock specific moves.
Key Levels
Support 1 - 23450
Resistance 1 - 23750
Support 2 - 23360
Resistance 2 - 23900
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Technical & Derivatives Report
July 12, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.79%
BankNifty futures open interest has decreased by 2.48%
as market closed at 9786.05 levels.
The Nifty July future closed with a premium of 1.20
points against the premium of 5.90 points in last trading
session. The August series closed at a premium of 35.50
points.
The Implied Volatility of at the money options has
decreased from 9.44 to 9.41. At the same time, the PCR-
OI of Nifty has increased from 1.34 levels to 1.37.
Few of the liquid counters where we have seen high cost
of carry are RCOM, SUZLON, NATIONALUM,
TATACHEM and SAIL.
Views
FIIs were net buyers in cash market segment and index
futures. They bought equities to the tune of Rs.
182
crores. While, in Index futures they were marginal buyers
OI Gainers
with some rise in open interest, suggesting formation of
OI
PRICE
SCRIP
OI
PRICE
marginal longs in previous trading session.
CHG. (%)
CHG. (%)
In index options front, they bought worth
AJANTPHARM
611600
49.61
1506.05
-2.67
Rs. 866 crores with rise in open interest. In call option,
NIITTECH
964500
37.69
587.00
3.91
9800-1100 strikes added some fresh positions; followed
AMARAJABAT
1591800
18.65
854.80
-1.89
by unwinding in 9400-9700 call options. On the flip
LICHSGFIN
4866400
18.45
728.70
-2.49
side, we witnessed significant open interest addition in
CHENNPETRO
555000
18.21
361.00
-1.51
9600 and 9800 put options, followed by good amount
MGL
505800
13.92
988.15
0.54
of unwinding in 9400 and 9300 put options. Looking at
MRPL
7038000
12.20
122.00
-0.12
participate-wise activity, it seems retail participants have
TORNTPHARM
314000
10.88
1329.65
2.49
bought put options as they are not expecting further rally
going ahead. As present, maximum open interest of
OI Losers
Nifty options is placed at 9800 call and 9600 put
OI
PRICE
SCRIP
OI
PRICE
options.
CHG. (%)
CHG. (%)
Despite market has moved up sharply, we are hardly
ASHOKLEY
54726000
-10.35
105.35
1.15
witnessing any relevant buying interest in index futures by
CONCOR
823750
-8.41
1179.45
-2.08
stronger hands. However, they have been buying index
BHARTIARTL
30664600
-6.95
395.60
-2.75
call options and covering their shorts in stock futures, due
BHARATFIN
14217000
-5.90
752.10
-2.05
to which market rallied. Hence, unless we don’t see any
HINDZINC
14009600
-5.61
271.50
0.91
relevant activity in index futures segment, we would
IBREALEST
32360000
-5.30
203.00
-4.54
suggest traders to remain light in index and prefer stock
PNB
44292500
-5.28
149.70
-2.38
specific trades.
BERGEPAINT
1053800
-5.15
253.65
1.30
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
IGL
29.58
NIFTY
1.37
1.19
SOUTHBANK
36.87
BANKNIFTY
1.19
0.96
NTPC
18.71
RELIANCE
0.59
0.48
BATAINDIA
33.24
INFY
0.59
0.40
NIITTECH
38.40
SBIN
0.66
0.49
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Technical & Derivatives Report
July 12, 2017
FII Statistics for July 11, 2017
Turnover on July 11, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1639.44
1545.84
93.60
266236
20308.49
0.98
158461
12934.96
-0.64
FUTURES
FUTURES
INDEX
INDEX
40584.13
39717.88
866.25
836123
63080.88
2.09
4422527
376078.04
38.66
OPTIONS
OPTIONS
STOCK
8963.64
7890.33
1073.32
986126
67447.93
(2.81)
STOCK
FUTURES
660591
47600.68
60.20
FUTURES
STOCK
STOCK
5457.48
5405.28
52.20
77886
5601.30
11.06
434397
32110.65
65.18
OPTIONS
OPTIONS
Total
56644.70
54559.33
2085.37
2166371
156438.60
(0.05)
TOTAL
5675976
468724.33
40.59
Nifty Spot = 9786.05
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9800
70.15
Buy
9800
84.85
38.60
61.40
9838.60
35.60
64.40
9764.40
Sell
9900
31.55
Sell
9700
49.25
Buy
9800
70.15
Buy
9800
84.85
58.00
142.00
9858.00
55.85
144.15
9744.15
Sell
10000
12.15
Sell
9600
29.00
Buy
9900
31.55
Buy
9700
49.25
19.40
80.60
9919.40
20.25
79.75
9679.75
Sell
10000
12.15
Sell
9600
29.00
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
July 12, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,614
1,632
1,645
1,663
1,675
ADANIPORTS
369
371
374
376
379
AMBUJACEM
251
253
255
257
259
ASIANPAINT
1,117
1,125
1,130
1,137
1,142
AUROPHARMA
684
692
704
713
725
AXISBANK
502
504
508
511
515
BAJAJ-AUTO
2,710
2,751
2,777
2,819
2,844
BANKBARODA
158
160
164
166
170
BPCL
658
668
674
685
691
BHARTIARTL
384
390
399
405
415
INFRATEL
401
405
410
415
419
BOSCHLTD
23,546
23,702
23,871
24,027
24,196
CIPLA
526
532
542
549
559
COALINDIA
250
252
256
258
262
DRREDDY
2,653
2,672
2,702
2,721
2,752
EICHERMOT
27,717
27,924
28,087
28,294
28,457
GAIL
356
360
365
369
374
HCLTECH
832
841
855
865
878
HDFCBANK
1,656
1,668
1,679
1,692
1,703
HDFC
1,621
1,632
1,641
1,651
1,660
HEROMOTOCO
3,725
3,736
3,747
3,759
3,769
HINDALCO
192
197
199
204
206
HINDUNILVR
1,090
1,098
1,105
1,114
1,121
IBULHSGFIN
1,057
1,071
1,082
1,096
1,107
ICICIBANK
286
288
290
292
295
IOC
377
382
386
391
394
INDUSINDBK
1,540
1,551
1,561
1,571
1,581
INFY
941
958
974
991
1,007
ITC
327
329
332
334
337
KOTAKBANK
946
952
962
968
977
LT
1,720
1,731
1,740
1,751
1,760
LUPIN
1,117
1,128
1,148
1,159
1,178
M&M
1,365
1,378
1,386
1,399
1,407
MARUTI
7,356
7,406
7,451
7,501
7,546
NTPC
158
161
163
165
167
ONGC
158
159
161
162
165
POWERGRID
210
211
212
213
215
RELIANCE
1,478
1,486
1,495
1,504
1,513
SBIN
279
281
285
288
292
SUNPHARMA
556
560
566
570
576
TCS
2,383
2,430
2,472
2,518
2,561
TATAMTRDVR
268
270
273
274
277
TATAMOTORS
445
451
457
463
468
TATAPOWER
82
82
83
84
85
TATASTEEL
551
554
558
561
565
TECHM
377
381
387
391
397
ULTRACEMCO
4,124
4,138
4,154
4,168
4,184
VEDANTA
252
255
259
262
267
WIPRO
255
259
266
270
278
YESBANK
1,494
1,504
1,519
1,529
1,544
ZEEL
503
505
507
509
512
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Technical & Derivatives Report
July 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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