Technical & Derivatives Report
March 15, 2017
Sensex (29443) / Nifty (9087)
Exhibit 1: Nifty Daily Chart
It was a historical day for Indian markets as our benchmark index
opened with a humongous upside gap cheering to BJP’s
thumping victory in UP assembly elections and then went on to
register a record high of
9122.75 on Nifty. Although, we
witnessed a mild profit taking at higher levels, traders should get
encouraged by highest ever closing well above the 9000 mark.
Finally, the much awaited breakout beyond the 9000 mark is a
reality now and it has happened with a ‘Breakaway Gap’, which
certainly augurs well for our markets. With reference to our recent
articles, we are not surprised with this move as we have been
quite vocal about the probable breakout to post a new high for
our markets. Despite some hint of profit booking at higher levels,
we would continue with our bullish stance on the market and
expect the Nifty to keep marching higher, first towards 9200 and
then towards our near term target of 9400 - 9600 (price
extension of previous up move from recent low of 7893.80) over
the next few weeks. On the downside, today’s gap area of 9060 -
8975 would act as a strong support zone. Any dip within this
range should be used to create fresh longs in the market without
any hesitation of being an overbought territory.
Key Levels
Support 1 - 9060
Resistance 1 - 9123
Support 2 - 8975
Resistance 2 - 9200
Nifty Bank Outlook - (21103)
Exhibit 2: Nifty Bank Daily Chart
In line with expectations, the Nifty Bank index too opened higher
and maintained the positive bias throughout the session to end
the day with gains of 1.81 percent.
The index finally broke out of the consolidation phase with a gap
up opening, thus indicating continuation of the uptrend. The
move was much on our expected lines as we have been
anticipating the same since last few sessions. As the index
heavyweights continue to show strength, we expect the
momentum to continue in near term. In next couple of months,
the index could rally towards 22410 which is the
161.8%
retracement of the previous corrective move. Hence, traders are
advised to continue to hold with their longs. The near-term
supports for the index are placed around 20915 and 20740
whereas resistance is seen in the range of 21377-21412.
Key Levels
Support 1 - 20915
Resistance 1 - 21377
Support 2 - 20740
Resistance 2 - 21412
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Technical & Derivatives Report
March 15, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 7.33%
BankNifty futures open interest has increased by 9.97%
as market closed at 9087.00 levels.
The Nifty March future closed with a premium of 16.00
points against the premium of 24.15 points in last
trading session. The April series closed at a premium of
40.40 points.
The Implied Volatility of at the money options has
decreased from 13.99% to 10.66%. At the same time,
the PCR-OI of Nifty has increased from 0.87 to 0.96
levels.
The total OI of the market is Rs. 3,13,454/- cr. and the
stock futures OI is Rs. 92,888/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, GMRINFRA, IDFCBANK,
JSWENERGY and IBULHSGFIN.
Views
FIIs were net buyers in both cash market segment and
OI Gainers
index futures. They bought equities to the tune of Rs.
OI
PRICE
SCRIP
OI
PRICE
4088 crores. While, in index futures they were buyers
CHG. (%)
CHG. (%)
CEATLTD
2566200
34.48
1229.20
5.97
worth Rs.
1837 crores with rise in open interest,
BATAINDIA
3481500
19.61
532.40
4.26
suggesting good amount of long formation yesterday.
In index options, FIIs were buyers of Rs. 3389 crores with
M&MFIN
16257500
15.44
281.00
1.63
marginal change in open interest. In call option, we
COALINDIA
15386700
15.09
295.80
-0.75
hardly witnessed any strike adding meaningful OI.
SIEMENS
941500
13.64
1256.95
4.25
However, huge unwinding was seen in 8900-9200 call
HINDZINC
11878400
13.62
289.15
1.38
options. On the other hand in put options, 9000 and
ACC
1848400
11.43
1416.25
1.16
9100 strikes added significant buildup and we believe
HINDUNILVR
7683000
10.41
917.95
4.49
these are long positions formed by retailers. Highest
open interest in March series has been shifted from 9000
OI Losers
to 9200 call option and of puts is at 8800 strike.
OI
PRICE
SCRIP
OI
PRICE
Yesterday, market gave a gap up opening that lead our
CHG. (%)
CHG. (%)
benchmark index surpassing the important hurdle of
GAIL
34086000
-13.84
377.40
-0.63
9000 mark. Nifty made a new high yesterday and FIIs
CGPOWER
16620000
-11.56
70.85
3.20
too actively participated in this rally. They formed huge
PIDILITIND
1316000
-9.99
701.10
2.36
longs in equities and index futures. While, they also
JINDALSTEL
39069000
-8.26
125.00
-0.83
covered most of their shorts formed in call options
SRTRANSFIN
2776800
-8.19
1016.30
5.73
hinting they expect market to continue its momentum in
COLPAL
1257900
-6.70
954.15
0.77
near term. Thus, traders are suggested to hold on to their
ALBK
16660000
-5.61
69.70
2.20
longs unless we witness any major change in data.
IBREALEST
36110000
-5.30
81.60
3.62
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HINDUNILVR
24.60
NIFTY
0.96
0.89
LT
25.78
BANKNIFTY
0.84
0.84
ICICIBANK
36.13
RELIANCE
0.72
0.57
IBULHSGFIN
37.95
SBIN
0.47
0.42
CEATLTD
39.22
ICICIBANK
0.54
0.42
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Technical & Derivatives Report
March 15, 2017
FII Statistics for March 14, 2017
Turnover on March 14, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4713.95
2876.82
1837.13
374958
26126.17
13.06
292061
21288.61
50.65
FUTURES
FUTURES
INDEX
INDEX
50333.87
46944.89
3388.98
1007509
69863.86
(0.15)
4778343
355601.71
82.48
OPTIONS
OPTIONS
STOCK
9025.99
8526.83
499.17
1045041
70901.99
1.21
STOCK
FUTURES
669967
48397.34
53.61
FUTURES
STOCK
STOCK
5216.36
5325.65
(109.28)
99216
7002.97
2.82
414234
30493.38
53.12
OPTIONS
OPTIONS
TOTAL
69290.18
63674.19
5615.99
2526724
173894.99
2.31
TOTAL
6154605
455781.04
75.02
Nifty Spot = 9087.00
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9100
84.05
Buy
9100
81.15
41.70
58.30
9141.70
35.80
64.20
9064.20
Sell
9200
42.35
Sell
9000
45.35
Buy
9100
84.05
Buy
9100
81.15
65.45
134.55
9165.45
56.00
144.00
9044.00
Sell
9300
18.60
Sell
8900
25.15
Buy
9200
42.35
Buy
9000
45.35
23.75
76.25
9223.75
20.20
79.80
8979.80
Sell
9300
18.60
Sell
8900
25.15
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 15, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,397
1,406
1,418
1,427
1,439
ADANIPORTS
301
305
308
312
315
AMBUJACEM
229
232
233
235
237
ASIANPAINT
1,026
1,049
1,063
1,086
1,100
AUROPHARMA
647
655
662
669
677
AXISBANK
499
505
515
521
531
BAJAJ-AUTO
2,821
2,844
2,877
2,900
2,933
BANKBARODA
158
160
162
163
166
BHEL
158
159
162
164
166
BPCL
624
630
636
642
648
BHARTIARTL
352
357
363
368
374
INFRATEL
303
307
311
314
318
BOSCH
21,733
22,162
22,651
23,080
23,569
CIPLA
586
593
597
604
609
COALINDIA
289
292
297
300
305
DRREDDY
2,699
2,720
2,738
2,758
2,776
EICHERMOT
23,278
23,640
23,927
24,289
24,577
GAIL
364
370
379
385
394
GRASIM
990
1,012
1,024
1,046
1,059
HCLTECH
841
847
856
862
871
HDFCBANK
1,396
1,404
1,414
1,421
1,431
HDFC
1,407
1,416
1,422
1,430
1,437
HEROMOTOCO
3,324
3,341
3,362
3,379
3,401
HINDALCO
185
188
191
193
197
HINDUNILVR
867
890
903
926
939
ICICIBANK
278
283
286
290
293
IDEA
98
101
104
107
110
INDUSINDBK
1,328
1,341
1,358
1,371
1,388
INFY
1,014
1,024
1,033
1,044
1,052
ITC
262
264
268
271
274
KOTAKBANK
820
828
840
848
859
LT
1,496
1,527
1,548
1,579
1,600
LUPIN
1,427
1,437
1,450
1,460
1,473
M&M
1,291
1,308
1,333
1,351
1,375
MARUTI
5,961
6,047
6,096
6,181
6,230
NTPC
157
158
160
161
162
ONGC
190
191
193
194
196
POWERGRID
189
191
195
197
201
RELIANCE
1,264
1,277
1,298
1,311
1,332
SBIN
271
273
276
277
280
SUNPHARMA
653
681
705
732
757
TCS
2,532
2,550
2,569
2,586
2,605
TATAMTRDVR
279
281
283
285
287
TATAMOTORS
459
464
474
479
488
TATAPOWER
82
83
83
84
85
TATASTEEL
465
469
474
478
483
TECHM
471
475
481
485
490
ULTRACEMCO
3,860
3,929
3,970
4,039
4,080
WIPRO
483
492
498
508
514
YESBANK
1,504
1,518
1,528
1,542
1,553
ZEEL
516
519
522
526
529
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Technical & Derivatives Report
March 15, 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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