Technical & Derivatives Report
March 13, 2018
Sensex (33918) / Nifty (10421)
Exhibit 1: Nifty Daily Chart
As we all know, recently, the opening direction is decided by the
global bourses and in-line with massive rally in US bourses on
Friday, our markets opened higher to surpass the 10300 mark in
the initial trades. This was followed by some consolidation; but
once again a strong bout of buying was seen in the latter half;
extending morning gains by a fair margin. Eventually, the Nifty
concluded well above 10400 by adding nearly couple of percent
to the Friday’s close and in the process, managed to clock highest
single day gains in last few months.
Looking at Friday’s close, no one would have expected such
gigantic bounce back. Some traders expected resumption of
downtrend and others were looking for some relief rally; but not
with such magnitude. In fact, if we refer to our previous article,
we did not expect the bounce back move extending beyond
the 10400 mark. But eventually, we always need to respect or
rather we should say accept what market does. The beaten down
heavyweight pocket ‘Banking’, came back smartly and had
shown tremendous resilience at lower levels. Looking at
yesterday’s smart bounce back, we may extend the relief rally
towards 10460 -
10500; but, our directional view remains
unchanged. We advise traders not to participate aggressively in
this move and should rather lighten up longs at higher levels. For
next couple of days, stock specific approach is recommended; but
one needs to be careful while picking up a stock and should
ideally trade with a proper exit strategy. For the coming
session, 10360 - 10300 would be seen as immediate support
levels. Yesterday, during the second half, PSU banking stocks
rebounded smartly. Since they are deeply oversold, traders are
advised to book out existing shorts for a time being.
Key Levels
Support 1 - 10360
Resistance 1 - 10460
Support 2 - 10300
Resistance 2 - 10500
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (24664)
The Nifty Bank index too opened gap up yesterday and rallied
higher in last hour of trade to end the session with gains of 1.54
percent. This up move just seems to be a pullback move which
was expected due to oversold momentum readings. The PSU
Banking names continued the corrective move during most part of
the day. However, they recovered some of their intraday losses
during the last hour as the Nifty PSU Bank index ended the day
with a loss of 0.47 percent. Certain PSU Banking names are
trading near their long-term supports and hence there could be
some pullback move in this space. Traders are advised to be
stock specific and trade with a proper risk management. The
intraday supports for the index are placed around 24350 and
24250 whereas resistances are seen around 24800 and 25030.
Key Levels
Support 1 - 24350
Resistance 1 - 24800
Support 2 - 24250
Resistance 2 - 25030
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Technical & Derivatives Report
March 13, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.37%
BankNifty futures open interest has increased by 4.70%
as market closed at 10421.40 levels.
The Nifty February future closed with a premium of
11.40 points against a discount of 10.40 points in last
trading session. The April series closed at a premium of
41.10 points.
The INDIA VIX has decreased from 14.52 to 14.49. At
the same time, the PCR-OI of Nifty has increased from
1.14 to 1.27 level.
Few of the liquid counters where we have seen high cost
of carry are KTKBANK, JPASSOCIAT, RCOM,
SYNDIBANK and BANKINDIA.
Views
OI Gainers
FIIs were net buyers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 375 crores. At the same time, they also bought
CHG. (%)
CHG. (%)
UBL
945000
30.43
1033.20
1.74
significantly in index futures of Rs. 2398 crores with rise
ANDHRABANK
32380000
23.21
35.95
-6.85
in open interest, indicating fresh long formation took
place in previous trading session.
TORNTPHARM
689500
19.29
1311.85
-1.27
In index options front, they sold marginally with decent
NIITTECH
1257000
12.94
910.60
3.93
amount of rise in open interest. In call option, good
NBCC
12684000
10.97
184.65
1.56
amount of build-up was seen in 10600 strikes; resulting
COLPAL
1259300
9.43
1043.95
0.58
into maximum open interest shifting higher from 10500
IOC
21420000
8.04
400.65
3.80
to 10600 call options. We also saw good amount of
HEXAWARE
4149000
7.21
375.15
2.86
unwinding in 10200, 10300 and 10500 call option. On
the flip side, 10200 and 10300 put option added huge
fresh positions. Maximum concentration of open interest
OI Losers
in put option is firmly placed at 10000 strike.
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
In past few trading session, index recovered from the
IDBI
39960000
-13.54
64.85
-8.34
support zone of 10100-10150 levels mainly due to
ALBK
16320000
-6.80
45.40
0.11
short covering. Yesterday, index rallied
2% with
ARVIND
5246000
-6.69
402.45
3.24
marginal change in open interest. FIIs turned buyers
BALRAMCHIN
16971500
-5.88
86.90
2.35
in index futures and index call options. Now, their
GODFRYPHLP
687500
-4.84
833.65
3.82
Long Short Ratio has also surged to 55% from 48%,
INFRATEL
6779600
-4.57
339.50
1.66
hinting majority of their positions are on long side.
SREINFRA
16365000
-4.21
81.65
5.32
Considering the above data points, we believe one
IGL
5139750
-3.96
302.90
1.20
may see extension of recent upmove.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.27
0.86
NTPC
25.19
BANKNIFTY
1.15
0.77
ITC
27.02
SUNPHARMA
0.42
0.37
IOC
27.64
PNB
0.78
0.50
HEROMOTOCO
22.84
SBIN
0.52
0.58
BHARTIARTL
39.62
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Technical & Derivatives Report
March 13, 2018
FII Statistics for March 12, 2018
Turnover on March 12, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4355.54
1957.92
2397.62
232329
18870.76
5.38
302505
25577.05
16.94
FUTURES
FUTURES
INDEX
INDEX
58274.01
58314.21
(40.20)
859137
69602.27
2.58
5036339
442288.82
16.03
OPTIONS
OPTIONS
STOCK
8908.64
7926.44
982.20
1105541
77229.64
0.53
STOCK
FUTURES
724708
48778.62
6.67
FUTURES
STOCK
STOCK
5635.96
5580.55
55.40
98161
6870.92
2.55
485113
34016.98
4.00
OPTIONS
OPTIONS
Total
77174.14
73779.12
3395.02
2295168
172573.60
1.85
TOTAL
6548665
550661.47
14.37
Nifty Spot = 10421.40
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
126.60
Buy
10400
97.50
50.50
49.50
10450.50
30.35
69.65
10369.65
Sell
10500
76.10
Sell
10300
67.15
Buy
10400
126.60
Buy
10400
97.50
86.10
113.90
10486.10
51.55
148.45
10348.45
Sell
10600
40.50
Sell
10200
45.95
Buy
10500
76.10
Buy
10300
67.15
35.60
64.40
10535.60
21.20
78.80
10278.80
Sell
10600
40.50
Sell
10200
45.95
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 13, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
372
379
384
392
396
AMBUJACEM
229
235
239
245
248
ASIANPAINT
1,115
1,123
1,129
1,137
1,143
AUROPHARMA
561
572
585
596
609
AXISBANK
499
509
515
526
532
BAJAJ-AUTO
2,917
2,937
2,952
2,972
2,987
BAJFINANCE
1,641
1,653
1,667
1,680
1,694
BPCL
434
440
444
451
454
BHARTIARTL
396
409
417
429
437
INFRATEL
328
334
339
345
350
BOSCHLTD
17,900
18,074
18,192
18,366
18,484
CIPLA
557
569
575
587
594
COALINDIA
289
293
300
304
311
DRREDDY
2,103
2,126
2,145
2,167
2,186
EICHERMOT
27,939
28,128
28,254
28,443
28,569
GAIL
434
440
444
450
454
HCLTECH
937
952
964
979
991
HDFCBANK
1,847
1,857
1,863
1,873
1,879
HDFC
1,812
1,835
1,850
1,873
1,888
HEROMOTOCO
3,553
3,624
3,671
3,742
3,789
HINDALCO
213
221
225
232
236
HINDPETRO
354
360
364
371
375
HINDUNILVR
1,282
1,303
1,315
1,337
1,349
IBULHSGFIN
1,191
1,201
1,213
1,222
1,235
ICICIBANK
291
296
299
304
307
IOC
382
391
397
407
413
INDUSINDBK
1,693
1,714
1,726
1,748
1,760
INFY
1,163
1,174
1,183
1,194
1,203
ITC
260
265
268
273
276
KOTAKBANK
1,075
1,088
1,096
1,109
1,118
LT
1,291
1,301
1,306
1,316
1,321
LUPIN
756
763
768
775
781
M&M
728
732
736
741
744
MARUTI
8,627
8,719
8,773
8,864
8,918
NTPC
161
166
169
175
178
ONGC
177
180
182
186
188
POWERGRID
192
193
195
196
197
RELIANCE
911
921
927
936
943
SBIN
244
248
252
256
260
SUNPHARMA
502
507
512
517
521
TCS
3,009
3,030
3,057
3,079
3,106
TATAMOTORS
335
344
349
357
362
TATASTEEL
599
611
619
631
639
TECHM
605
612
624
632
644
ULTRACEMCO
4,035
4,105
4,146
4,216
4,257
UPL
700
709
715
723
729
VEDANTA
301
309
314
322
327
WIPRO
284
287
290
293
296
YESBANK
296
304
309
317
322
ZEEL
560
568
573
581
586
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Technical & Derivatives Report
March 13, 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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