Technical & Derivatives Report
December 15, 2017
Sensex (33247) / Nifty (10252)
Exhibit 1: Nifty Daily Chart
Yesterday’s gap up opening suggested that traders across the globe
digested the rate hike by US Fed. However, very much on expected
lines, the entire lead got sold into and in fact, aggravated selling post
the initial hour resulted into a slide below the 10150 mark. This was
followed by a sharp recovery in the latter half to eventually conclude
the volatile session with decent gains over a half a percent.
Yesterday’s move was a mirror image of what we saw on
Wednesday. In fact, the way markets rebounded with immense
volatility was certainly intimidating for pessimistic traders. Such
volatility was quite evident just ahead of Gujarat assembly election
exit polls. The way market has closed, the bulls must be quite elated
as we saw index taking a u-turn precisely after retesting
61.8%
retracement level of 10140, in fact it was one of the levels (10140 -
10100) mentioned in our earlier article. Having said that we must
accept the fact, the intraday bounce was on cards but certainly not
the way it has. Technically speaking, we supposedly remain cautious
as long as recent swing highs of 10296 and 10330 are not
surpassed convincingly. Now, exit poll numbers are out and all polls
suggest BJP’s victory with a majority. As a result, we can see SGX
Nifty jumping with decent gains. However, we would advise not to
get gung ho with it as we expect volatility to scale up further before
the final result of this political event unfolds on Monday. One should
wait for markets to sustain above
10330 in order to take a
directional call. On the downside, 10200 - 10140 would be seen as
key supports. Traders are advised to keep a close track of these
crucial levels and should avoid taking undue risks.
Key Levels
Support 1 - 10200
Resistance 1 - 10296
Support 2 - 10140
Resistance 2 - 10330
Nifty Bank Outlook - (25168)
Exhibit 2: Nifty Bank Daily Chart
Similarly Bank Nifty witnessed a volatile session and ended with gains
of 0.67% over the previous days close. The index has witnessed
higher intraday volatility in last couple of sessions as the market
participants seem to be perplexed about the outcome of the Gujarat
elections outcome, which is expected to have an impact on our
markets. Since last few days, the Nifty Bank index has traded in the
broad range of 24800-25450. The next directional move in the Nifty
Bank index will depend on the breakout from this range as a breach
of the lower end will turn the short-term trend negative whereas a
breakout above the higher end will resume the higher degree
uptrend. Hence, traders are advised to keep a tab on the market
moves and trade in the direction of the breakout.
Key Levels
Support 1 - 24900
Resistance 1 - 25275
Support 2 - 24800
Resistance 2 - 25450
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Technical & Derivatives Report
December 15, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.91%
BankNifty futures open interest has decreased by 8.45%
as market closed at 10252.10 levels.
The Nifty December future closed with a premium of 24
points against a premium of 22.25 points in last trading
session. The January series closed at a premium of
54.50 points.
The INDIA VIX has increased from 15.94 to 16.40. At the
same time, the PCR-OI of Nifty has increased from 1.26
to 1.28 level.
Few of the liquid counters where we have seen high cost
of carry are RCOM, INFRATEL, SUZLON, BERGEPAINT
and CAPF.
Views
OI Gainers
FIIs were net buyers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 232 crores. At the same time, they were sellers in
CHG. (%)
CHG. (%)
index futures worth Rs. 661 crores with fall in open
BERGEPAINT
2204400
26.68
246.45
-1.81
interest, indicating unwinding of long positions took
JUSTDIAL
2854200
10.77
494.20
-2.74
place in yesterday’s trading session.
INDIGO
2567400
9.44
1138.50
-0.13
In index options front, they were sellers of Rs. 1739
TCS
6863750
5.97
2570.75
-2.48
crores with marginal rise in open interest. In call options,
INDIACEM
29043000
5.79
163.90
-3.10
we saw some OI in 10400-10700 strikes. On the flip
BEML
2300400
5.78
1483.40
-1.63
side, 9400-10000 put options added good amount of
MGL
1142400
5.78
1102.05
-1.13
fresh positions; wherein, 10000 strike added maximum
WOCKPHARMA
3662100
5.34
763.60
5.62
positions. However, highest OI concentration remains
intact in 10500 and 10000 put options.
As mentioned in the previous article, the volatility index
OI Losers
surged above the resistance zone (15.50) and we are
OI
PRICE
SCRIP
OI
PRICE
also experiencing decent volatility. For current series,
CHG. (%)
CHG. (%)
RAMCOCEM
468000
-12.03
705.90
0.56
majority of the positions formed in index futures segment
MINDTREE
1759200
-9.11
565.50
0.08
are on short side and are still in system. Now, 10300-
PCJEWELLER
9183000
-8.48
433.55
-1.76
10350 is an immediate hurdle; whereas, strong support
is placed around 10000 mark. Taking into consideration
REPCOHOME
911600
-8.18
646.25
0.87
the F&O data and the upcoming event, we would advise
TORNTPHARM
393200
-7.70
1325.25
-0.63
traders avoiding aggressive position until index is trading
SHREECEM
49750
-7.18
17917.00
0.59
in the above range.
NIITTECH
933000
-6.75
620.35
0.67
MRPL
10476000
-6.17
123.75
-0.56
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.28
1.01
IRB
49.81
BANKNIFTY
1.05
0.80
TCS
22.67
RELIANCE
0.44
0.43
BRITANNIA
24.53
TATAMOTORS
0.38
0.61
WOCKPHARMA
54.52
INFY
0.92
0.57
HINDPETRO
39.32
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Technical & Derivatives Report
December 15, 2017
FII Statistics for December 14, 2017
Turnover on December 14, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2029.81
2690.98
(661.17)
206006
16657.98
(6.04)
245988
20940.90
-11.05
FUTURES
FUTURES
INDEX
INDEX
93937.60
95676.24
(1738.64)
1211760
95868.40
0.60
12075866
1157769.20
56.84
OPTIONS
OPTIONS
STOCK
7658.35
7047.18
611.17
1047516
72653.08
0.42
STOCK
FUTURES
554956
39088.01
-15.24
FUTURES
STOCK
STOCK
6227.32
6247.01
(19.69)
68277
4911.66
3.43
400544
29789.50
-3.63
OPTIONS
OPTIONS
Total
109853.07
111661.41
(1808.34)
2533559
190091.14
0.03
TOTAL
13277354
1247587.62
48.75
Nifty Spot = 10252.10
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10300
126.95
Buy
10200
112.65
47.60
52.40
10347.60
28.90
71.10
10171.10
Sell
10400
79.35
Sell
10100
83.75
Buy
10300
126.95
Buy
10200
112.65
81.30
118.70
10381.30
49.85
150.15
10150.15
Sell
10500
45.65
Sell
10000
62.80
Buy
10400
79.35
Buy
10100
83.75
33.70
66.30
10433.70
20.95
79.05
10079.05
Sell
10500
45.65
Sell
10000
62.80
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 15, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
381
388
393
401
406
AMBUJACEM
256
261
264
268
271
ASIANPAINT
1,109
1,116
1,123
1,130
1,137
AUROPHARMA
651
658
668
675
684
AXISBANK
531
536
540
545
549
BAJAJ-AUTO
3,118
3,140
3,156
3,178
3,193
BAJFINANCE
1,599
1,642
1,671
1,714
1,742
BPCL
501
507
512
518
522
BHARTIARTL
505
513
519
527
533
INFRATEL
350
354
358
361
366
BOSCHLTD
19,196
19,538
19,754
20,096
20,312
CIPLA
568
579
586
598
605
COALINDIA
261
262
263
264
266
DRREDDY
2,257
2,284
2,302
2,329
2,346
EICHERMOT
28,255
28,497
28,693
28,935
29,131
GAIL
473
480
489
496
504
HCLTECH
854
868
877
891
900
HDFCBANK
1,802
1,820
1,830
1,848
1,858
HDFC
1,671
1,688
1,699
1,716
1,727
HEROMOTOCO
3,394
3,427
3,449
3,483
3,505
HINDALCO
231
234
236
239
241
HINDPETRO
420
429
434
442
447
HINDUNILVR
1,295
1,308
1,318
1,331
1,340
IBULHSGFIN
1,158
1,172
1,181
1,195
1,203
ICICIBANK
299
302
304
306
309
IOC
397
403
407
414
418
INDUSINDBK
1,623
1,637
1,646
1,659
1,669
INFY
993
1,003
1,009
1,019
1,025
ITC
254
259
263
268
271
KOTAKBANK
1,001
1,013
1,020
1,032
1,039
LT
1,164
1,177
1,188
1,201
1,212
LUPIN
838
846
851
858
863
M&M
1,404
1,418
1,427
1,441
1,450
MARUTI
9,001
9,057
9,102
9,158
9,203
NTPC
172
175
176
179
181
ONGC
180
182
184
187
189
POWERGRID
197
199
200
202
203
RELIANCE
902
912
918
928
935
SBIN
307
311
313
316
319
SUNPHARMA
507
511
515
519
523
TCS
2,473
2,515
2,574
2,616
2,675
TATAMOTORS
395
399
402
405
408
TATASTEEL
664
675
682
693
700
TECHM
497
505
512
521
527
ULTRACEMCO
4,198
4,233
4,273
4,309
4,349
UPL
693
706
720
733
747
VEDANTA
277
281
284
288
292
WIPRO
279
284
287
292
295
YESBANK
301
302
303
305
306
ZEEL
558
563
567
572
577
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Technical & Derivatives Report
December 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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