Technical & Derivatives Report
March 14, 2018
Sensex (33857) / Nifty (10427)
Exhibit 1: Nifty Daily Chart
We had a sluggish start for the day owing to slightly weak cues
from the global bourses. However, it was merely a formality as
we saw index recovering sharply in the initial hour to surpass
the 10450 mark. This was followed by some consolidation; but,
once again profit booking took place at higher levels and as a
result, the index nosedived below morning’s low by a whisker.
Eventually, some ups and downs in final hours resulted into a flat
close.
After seeing Monday’s gigantic recovery, yesterday’s follow up
move was on cards. But since overall sentiments have dampened
a lot, traders became cautious near intraday highs. In fact, this
profit booking took place precisely after entering the mentioned
resistance zone of 10460 - 10500. At one point, markets were
rushing towards 10500 and were about to negate the ‘Trend
Line’ breakdown happened on March 05, 2018. Traders gave
This was clearly on cards and hence, we suggested exiting
respect to this development and hence, we saw Nifty precisely
shorts in our previous article. This was mainly on the back
closing at this ‘Trend Line’ resistance level of 10430. With
of ‘Nifty PSU Bank’ index rebounding from its multi-year
yesterday’s move, one thing is quite clear; the short sellers will
trend line support of 2800 after forming a ‘Bullish Hammer’
become active once we see index sustaining below yesterday’s
pattern on Monday. Since they were deeply oversold, a
low of 10377. In this scenario, we may see resumption of the
possibility of further relief rally cannot be ruled out.
down move to test 10300 - 10260 levels. On the flipside, in
case of a continuation of this relief rally, traders should look to
lighten up longs in the zone 10480 - 10520. At this juncture, a
Key Levels
prudent strategy would be to remain light and should ideally
Support 1 - 10360
Resistance 1 - 10460
focus on stock specific moves. Yesterday, recent draggers ‘PSU’
Support 2 - 10300
Resistance 2 - 10500
banks finally showed some life as we saw massive bounce
back in these beaten down counters.
Nifty Bank Outlook - (24739)
Exhibit 2: Nifty Bank Daily Chart
Amidst high volatility, the Nifty Bank index rallied to test the
25000 mark during intraday but ended the session with marginal
gains of 0.30%. However, the day belonged to the beaten down
PSU Banking stocks as many of them rallied sharply to clock gains
of
5-10%. This move was much anticipated by us in our
yesterday's report. Yesterday, the Nifty Bank index reverted lower
from its resistance which was placed around 25030. In near term,
we may see some consolidation in the index with stock specific
momentum. A move beyond the mentioned resistance of 25030
only could then lead to an extension of this pullback towards
25300-25350. On the flipside, 24550 followed by 24250 are the
near term supports. Traders are advised to be stock specific and
trade with a proper risk management.
Key Levels
Support 1 - 24550
Resistance 1 - 25030
Support 2 - 24250
Resistance 2 - 25300
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Technical & Derivatives Report
March 14, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.89%
BankNifty futures open interest has decreased by 3.72%
as market closed at 10426.85 levels.
The Nifty February future closed with a discount of 0.45
points against a premium of 11.40 points in last trading
session. The April series closed at a premium of 28.80
points.
The INDIA VIX has decreased from 14.49 to 14.46. At
the same time, the PCR-OI of Nifty remains unchanged
at 1.27 level.
Few of the liquid counters where we have seen high cost
of carry are ANDHRABANK, SUZLON, GMRINFRA,
M&MFIN and SOUTHBANK.
Views
OI Gainers
FIIs bought significantly in cash market segment to the
OI
PRICE
SCRIP
OI
PRICE
tune of Rs. 7028 crores; which is mainly due to block
CHG. (%)
CHG. (%)
TCS
11389250
58.08
2886.80
-4.99
deal in TCS. At the same time, they were net sellers in
IOC
26169000
22.17
407.85
1.94
index futures of Rs. 242 crores with rise in open interest,
indicating some short formation took place in previous
BANKINDIA
32304000
16.06
102.15
7.26
trading session.
APOLLOHOSP
1043000
14.43
1095.90
-2.41
In index options front, they sold of worth Rs. 296 with
HEXAWARE
4626000
11.50
384.30
0.07
some rise in open interest. In call option, good amount
M&MFIN
8157500
9.88
426.05
3.01
of build-up was seen in 10700 strikes; followed by
AMARAJABAT
1293600
7.69
801.95
-1.33
unwinding in 10300-10600 call option. On the flip side,
CEATLTD
1100750
7.01
1598.20
2.92
10400 and 10500 put option added fresh positions
along with unwinding in 9900-10300 strikes. Maximum
concentration of open interest is now placed at 10500
OI Losers
call and 10000 put options.
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
In past few trading session, index recovered from the
ANDHRABANK
25590000
-20.97
39.50
10.68
support zone of 10100-10150 levels mainly due to
INFRATEL
6176100
-8.90
349.00
2.10
short covering. FIIs now hold majority of long
DALMIABHA
772500
-6.26
2869.35
0.79
positions in index and stock futures segment. At the
PCJEWELLER
6858000
-6.18
365.10
7.72
same time, they continued adding long positions in
NBCC
11940000
-5.87
196.15
5.92
index call options along with writing in index put
RELINFRA
10133500
-5.01
451.65
4.40
options. Considering the above data points, we
ACC
1415600
-4.87
1575.35
0.88
believe one may see extension of recent upmove.
BANKBARODA
63616000
-4.81
141.55
6.70
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.27
0.98
TCS
37.21
BANKNIFTY
1.10
0.82
ANDHRABANK
76.57
SUNPHARMA
0.45
0.33
NBCC
45.86
PNB
0.78
0.30
CHENNPETRO
45.52
SBIN
0.55
0.47
BPCL
35.38
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Technical & Derivatives Report
March 14, 2018
FII Statistics for March 13, 2018
Turnover on March 13, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3000.31
3242.74
(242.43)
237590
19283.25
2.26
367393
32091.40
25.47
FUTURES
FUTURES
INDEX
INDEX
117999.24
118295.00
(295.76)
881858
71464.74
2.64
8284212
757164.03
71.19
OPTIONS
OPTIONS
STOCK
10388.65
10223.45
165.20
1111653
78125.00
0.55
STOCK
FUTURES
896073
61106.51
25.27
FUTURES
STOCK
STOCK
7827.29
7975.75
(148.46)
104352
7327.76
6.31
640150
45369.22
33.37
OPTIONS
OPTIONS
Total
139215.48
139736.95
(521.46)
2335453
176200.74
1.76
TOTAL
10187828
895731.16
62.66
Nifty Spot = 10426.85
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
122.55
Buy
10400
96.45
49.85
50.15
10449.85
31.10
68.90
10368.90
Sell
10500
72.70
Sell
10300
65.35
Buy
10400
122.55
Buy
10400
96.45
83.45
116.55
10483.45
52.45
147.55
10347.55
Sell
10600
39.10
Sell
10200
44.00
Buy
10500
72.70
Buy
10300
65.35
33.60
66.40
10533.60
21.35
78.65
10278.65
Sell
10600
39.10
Sell
10200
44.00
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 14, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
376
380
386
391
396
AMBUJACEM
234
236
240
243
247
ASIANPAINT
1,118
1,129
1,136
1,147
1,154
AUROPHARMA
572
577
583
587
593
AXISBANK
507
519
527
539
547
BAJAJ-AUTO
2,925
2,948
2,976
3,000
3,027
BAJFINANCE
1,646
1,663
1,681
1,699
1,716
BPCL
437
452
460
475
483
BHARTIARTL
416
421
425
431
435
INFRATEL
331
340
345
354
359
BOSCHLTD
18,098
18,293
18,396
18,591
18,695
CIPLA
571
575
579
583
587
COALINDIA
286
290
295
299
303
DRREDDY
2,119
2,150
2,172
2,203
2,225
EICHERMOT
27,739
28,294
28,607
29,162
29,475
GAIL
433
445
451
463
469
HCLTECH
934
945
957
969
981
HDFCBANK
1,837
1,849
1,867
1,878
1,896
HDFC
1,835
1,852
1,867
1,883
1,898
HEROMOTOCO
3,643
3,672
3,701
3,730
3,759
HINDALCO
220
223
226
229
231
HINDPETRO
360
371
378
390
397
HINDUNILVR
1,304
1,312
1,322
1,330
1,340
IBULHSGFIN
1,192
1,212
1,231
1,251
1,270
ICICIBANK
296
300
304
308
311
IOC
397
402
408
413
418
INDUSINDBK
1,697
1,713
1,732
1,748
1,767
INFY
1,163
1,174
1,185
1,195
1,207
ITC
265
267
270
272
274
KOTAKBANK
1,061
1,072
1,090
1,102
1,120
LT
1,278
1,290
1,307
1,319
1,335
LUPIN
762
771
778
787
794
M&M
724
729
735
739
745
MARUTI
8,608
8,682
8,765
8,839
8,922
NTPC
166
168
169
171
173
ONGC
180
182
183
185
186
POWERGRID
191
193
195
197
199
RELIANCE
915
923
930
938
944
SBIN
243
249
256
262
268
SUNPHARMA
508
515
520
528
533
TCS
2,832
2,859
2,900
2,927
2,967
TATAMOTORS
347
350
353
356
360
TATASTEEL
607
618
625
637
644
TECHM
608
614
619
625
631
ULTRACEMCO
4,106
4,138
4,174
4,205
4,241
UPL
706
714
722
730
738
VEDANTA
307
314
319
326
331
WIPRO
289
293
296
300
303
YESBANK
307
310
313
316
318
ZEEL
566
573
577
583
587
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Technical & Derivatives Report
March 14, 2018
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
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E-mail: [email protected]
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