Technical & Derivatives Report
March 14, 2017
Sensex (28946) / Nifty (8935)
Exhibit 1: Nifty Daily Chart
It’s been a second consecutive week of consolidation for our
market, which was quite evident after reaching a psychological
figure of 9000 and most importantly ahead of UP assembly
election results. In fact, this has been the smallest weekly range in
last couple of years. Looking at the decent profit taking around
this hurdle, it appears that traders are keenly awaiting outcome of
this domestic event to dictate the near term direction of the
market. However, one thing cannot be ignored that we witnessed
good amount of buying interest around the 8900 mark.
Technically speaking (keeping the event aside), looking at the
‘Bullish Cup and Handle’ pattern and the placement of ‘RSI-
Smoothened’ on weekly chart, we maintain our optimistic stance
on the market and expect the index to hit all time high soon.
Since, BJP has won the UP assembly election with clear majority
and as indicated by SGX Nifty; the Nifty is expected to open with
decent gains of more than 2 percent. It would be too early to take
this call, but, we will not be surprised to see this up move getting
extended towards 9400 - 9600 (price extension of previous up
move from recent low of 7893.80) over the next few weeks. We
would reiterate that the trend is strong and hence, one should
look to utilise intra-week dips to create fresh longs rather than
getting worried about the overbought condition of the market.
Key Levels
Support 1 - 8891
Resistance 1 - 9119
Support 2 - 8860
Resistance 2 - 9200
Nifty Bank Outlook - (20728)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened with upside gap on Friday and
started correcting from initial trades. However, we witnessed some
recovery towards the fag end and as a result, the banking index
ended the session on a flat note. However, the Nifty Bank index
posted a weekly gain of 1.13 percent over its previous close.
Last week, the Nifty Bank index consolidated within the previous
week’s trading zone and thus formed an ‘Inside Bar’ pattern on
weekly chart. Since the outcome U.P. Elections is in favour of BJP,
the markets would hopefully end this consolidation phase and
resume the broader uptrend. Thus, we maintain our bullish stance
on index and advice traders to form long positions on declines.
The intraday support for the Nifty Bank index is placed in the
range of 20534 - 20420 whereas resistances are seen around
21042 and 21350.
Key Levels
Support 1 - 20534
Resistance 1 - 21042
Support 2 - 20420
Resistance 2 - 21350
www.angelbroking.com
Technical & Derivatives Report
March 14, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.48%
BankNifty futures open interest has decreased by 3.80%
as market closed at 8934.55 levels.
The Nifty March future closed with a premium of 24.15
points against the premium of 27.50 points in last
trading session. The April series closed at a premium of
50.85 points.
The Implied Volatility of at the money options has
decreased from 14.31% to 13.99%. At the same time,
the PCR-OI of Nifty has decreased from 0.90 to 0.87
levels.
The total OI of the market is Rs. 3,04,583/- cr. and the
stock futures OI is Rs. 90,204/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, L&TFH, OIL, JISLJALEQS and
TATAGLOBAL.
Views
OI Gainers
On Friday, FIIs were net buyers in cash market segment
OI
PRICE
to the tune of Rs. 412 crores. While, in index futures they
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
were sellers worth Rs. 104 crores with rise in open
JINDALSTEL
42588000
17.54
126.05
6.28
interest, suggesting blend of both long unwinding and
DCBBANK
4468500
12.84
160.15
1.59
short formation in previous trading session.
OIL
2730530
10.86
336.30
3.25
In index options, FIIs were sellers of Rs. 3686 crores with
HINDZINC
10454400
7.22
285.20
-2.21
rise in open interest. In call option, 9100-9500 strikes
BHARATFIN
16783000
6.63
832.90
-1.30
were active and they also added good amount of open
VEDL
46602500
5.86
249.75
-1.60
interest. On the other hand in put options, we hardly
ADANIPORTS
12012500
5.17
300.30
-0.65
witnessed any strikes adding meaningful OI. Highest
AUROPHARMA
15560300
3.88
655.65
-0.88
open interest in March series is placed at 9000 call and
of put option has shifted from 8700 to 8900 strike price.
It was the lowest weekly trading range for Nifty after
OI Losers
November 2014 and we witnessed good amount of OI
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
build-up in the same. FIIs have formed mixed positions in
NHPC
24921000
-16.47
30.20
0.83
index futures. However, the longs formed by FIIs in
COLPAL
1348200
-10.96
946.85
0.07
February series are still intact in the system. At the same
GAIL
39562000
-7.68
379.80
-0.28
time, their buying streak in cash market segment bode
PIDILITIND
1462000
-6.22
684.95
0.20
well for bulls. At current juncture, there are no reversal
BOSCHLTD
86075
-6.21
22727.10
2.51
signs as per derivative data and thus, we maintain our
HDIL
27208000
-6.05
72.25
1.40
optimistic stance on market. Hence, traders are
TVSMOTOR
5600000
-5.85
424.90
1.46
suggested to hold on to their longs unless we see
BEL
3100050
-5.15
1570.55
0.88
relevant change in data.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
OIL
28.44
NIFTY
0.87
0.66
BOSCHLTD
31.27
BANKNIFTY
0.76
0.74
TECHM
27.87
RELIANCE
0.66
0.56
JINDALSTEL
68.17
SBIN
0.44
0.48
BATAINDIA
29.33
ICICIBANK
0.44
0.46
www.angelbroking.com
Technical & Derivatives Report
March 14, 2017
FII Statistics for March 10, 2017
Turnover on March 10, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1692.60
1797.04
(104.44)
331649
22750.51
2.56
193942
14130.96
9.98
FUTURES
FUTURES
INDEX
INDEX
27688.61
31374.60
(3685.99)
1008980
68810.08
5.37
2649159
194871.69
-68.27
OPTIONS
OPTIONS
STOCK
5491.64
6416.17
(924.53)
1032577
69125.14
0.79
STOCK
FUTURES
428066
31506.14
-7.36
FUTURES
STOCK
STOCK
3370.45
3539.04
(168.59)
96497
6712.39
5.09
264228
19914.90
0.83
OPTIONS
OPTIONS
TOTAL
38243.30
43126.85
(4883.55)
2469703
167398.11
3.02
TOTAL
3535395
260423.68
-61.75
Nifty Spot = 8934.55
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9000
95.55
Buy
8900
89.35
39.65
60.35
9039.65
32.00
68.00
8868.00
Sell
9100
55.90
Sell
8800
57.35
Buy
9000
95.55
Buy
8900
89.35
65.25
134.75
9065.25
54.10
145.90
8845.90
Sell
9200
30.30
Sell
8700
35.25
Buy
9100
55.90
Buy
8800
57.35
25.60
74.40
9125.60
22.10
77.90
8777.90
Sell
9200
30.30
Sell
8700
35.25
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
www.angelbroking.com
Technical & Derivatives Report
March 14, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,385
1,392
1,404
1,411
1,423
ADANIPORTS
292
295
301
304
310
AMBUJACEM
226
227
229
230
232
ASIANPAINT
1,017
1,024
1,031
1,037
1,044
AUROPHARMA
640
646
656
663
673
AXISBANK
509
513
516
520
523
BAJAJ-AUTO
2,833
2,849
2,869
2,885
2,906
BANKBARODA
155
157
160
162
165
BHEL
155
157
159
160
162
BPCL
610
617
627
634
644
BHARTIARTL
357
361
364
368
370
INFRATEL
302
305
309
312
316
BOSCH
21,534
22,147
22,614
23,227
23,694
CIPLA
585
587
589
591
594
COALINDIA
312
314
317
319
322
DRREDDY
2,685
2,700
2,717
2,732
2,748
EICHERMOT
23,014
23,185
23,373
23,544
23,732
GAIL
371
375
379
383
387
GRASIM
983
991
1,003
1,012
1,024
HCLTECH
831
839
848
856
866
HDFCBANK
1,386
1,393
1,400
1,408
1,415
HDFC
1,361
1,367
1,375
1,382
1,390
HEROMOTOCO
3,269
3,290
3,310
3,331
3,350
HINDALCO
184
186
189
190
193
HINDUNILVR
863
869
873
880
884
ICICIBANK
265
268
272
275
279
IDEA
101
103
105
106
108
INDUSINDBK
1,316
1,326
1,333
1,343
1,351
INFY
1,007
1,014
1,021
1,029
1,035
ITC
261
262
264
265
266
KOTAKBANK
819
824
831
836
844
LT
1,472
1,482
1,490
1,499
1,507
LUPIN
1,431
1,439
1,448
1,456
1,466
M&M
1,287
1,295
1,307
1,315
1,328
MARUTI
5,894
5,925
5,967
5,997
6,039
NTPC
155
156
158
159
161
ONGC
187
189
191
193
195
POWERGRID
187
190
193
195
198
RELIANCE
1,245
1,263
1,280
1,298
1,314
SBIN
266
269
272
275
278
SUNPHARMA
674
678
685
689
696
TCS
2,500
2,521
2,535
2,557
2,571
TATAMTRDVR
276
278
280
282
284
TATAMOTORS
462
466
469
472
475
TATAPOWER
80
81
82
83
84
TATASTEEL
456
462
468
474
480
TECHM
460
468
483
491
505
ULTRACEMCO
3,794
3,823
3,856
3,885
3,918
WIPRO
481
484
487
489
492
YESBANK
1,458
1,469
1,477
1,489
1,496
ZEEL
505
510
516
521
527
www.angelbroking.com
Technical & Derivatives Report
March 14, 2017
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a
registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number
INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing
/dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed public
offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
www.angelbroking.com