Technical & Derivatives Report
January 16, 2017
Sensex (27238) / Nifty (8400)
Exhibit 1: Nifty Daily Chart
Last week, we saw Nifty struggling around the 8300 mark, in fact,
the same thing was witnessed in the early part of the week gone
by. However, similar to 8200, the index chose to surpass this
hurdle with a strong gap up opening, which was a sign of
strength. As a result, we saw strong follow up buying to test the
expected target of 8450 on Friday.
Now, due to last week’s up move, the Nifty has managed to close
decisively above the ’20 EMA’ as well as ‘Parabolic SAR’, which
has confirmed a bullish signal on weekly chart. In addition, the
‘RSI - smoothened’ oscillator has given a positive crossover with
its average in the same time frame chart. On Friday, we saw
some profit booking after reaching the downside gap area (8460
-
8510) formed on November
11,
2016. Going ahead,
considering recent sharp rally, we may see Nifty consolidating
around 8460 and then at 8598, which can termed as immediate
hurdles. However, there would just be a pause in the momentum
as the undertone still remains bullish and we expect buying
emerging at lower levels. On the other hand, in case of a dip,
8320 - 8250 would be seen as strong support levels for the
index. Since, the index has already given a decent run of late, we
would now advise traders to focus on individual stocks which may
fetch higher returns as compared to the index.
Key Levels
Support 1 - 8350
Resistance 1 - 8460
Support 2 - 8320
Resistance 2 - 8510
Nifty Bank Outlook - (18912)
Exhibit 2: Nifty Bank Daily Chart
Again, the Bank nifty index opened with upside gap on Friday
and started correcting from initial trades. The banking index
breached its previous session’s low within first hour of trade.
However, we witnessed decent recovery in the later half and as a
result, the Nifty Bank index has managed to close with gains of
0.20 percent over its previous close.
After the formation of ‘Doji’ candle on Thursday, the Nifty Bank
index has formed a ‘Hanging Man’ candle on Friday’s session. A
close below Friday’s low of 18781.25 may result into pause in the
upward momentum and we may see some time as well as price
correction. Since, there is no sign of reversals seen on chart,
traders should not pre-empt ‘Top’ and thus trade with positive
bias. At current juncture, the Nifty Bank index has resistance at
19275 level, which is 61.80% retracement level of previous down
move from 20309.65 to 17606.90. On the flipside, immediate
support for the index is placed at 18781 and 18600 levels.
Key Levels
Support 1 - 18781
Resistance 1 - 19040
Support 2 - 18600
Resistance 2 - 19275
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Technical & Derivatives Report
January 16, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.23%
BankNifty futures open interest has increased by 10.92%
as market closed at 8400.35 levels.
The Nifty January future closed with a premium of 17.35
points against the premium of 10.80 points in last
trading session. The February series closed at a premium
of 42.70 points.
The Implied Volatility of at the money options has
decreased from 11.53% to 10.84%. At the same time,
the PCR-OI of Nifty has increased from 1.22 to 1.23
levels.
The total OI of the market is Rs. 2,73,791/- cr. and the
stock futures OI is Rs. 77,529/- cr.
Few of the liquid counters where we have seen high cost
of carry are IFCI, JPASSOCIAT, JSWSTEEL, RCOM and
BHEL.
Views
OI Gainers
On Friday, FIIs were net seller in equity cash segment
OI
PRICE
worth Rs. 118 crores. While, in index futures, their activity
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
remained subdued.
DCBBANK
4756500
32.13
124.40
3.80
In index option segment, FIIs sold worth Rs. 229 crores
TCS
6033250
29.53
2250.00
-3.75
with rise in open interest. In call options, 8600, 8550
JUSTDIAL
5193600
23.48
369.45
-0.94
and
8400 strikes added some positions. While we
APOLLOTYRE
10314000
17.02
188.50
-3.38
witnessed decent open interest reduction in ‘in the money
IDEA
102312000
13.96
68.80
-4.64
strikes’ viz 8300, and 8200. On the other hand, in put
COALINDIA
12542600
11.45
311.65
0.91
options, 8400 and 8100 strikes were quite active and
RCOM
128016000
10.09
31.50
-3.37
added fresh positions; followed by unwinding in 8300
INFY
19562500
10.07
979.00
-2.49
strike. At current juncture, highest open interest in call
option has again shifted from 8500 to 8400 strike, while
OI Losers
it remains intact 8000 put option.
OI
PRICE
Last week, Nifty managed to surpass the resistance of
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
8300 on the back of good amount of long addition in
JPASSOCIAT
145656000
-6.46
9.90
-4.35
Index as well as Stock Futures. While on options front, we
CENTURYTEX
7773700
-5.29
803.80
-2.02
witnessed FIIs writing 8200-8300 puts, suggesting 8250-
IBREALEST
32180000
-4.74
79.00
-2.53
8300 to now act as a good support for market. Thus
ADANIENT
15904000
-4.47
78.65
-2.30
looking at the overall F&O data, we expect continuation
AUROPHARMA
10111500
-4.23
704.55
1.14
of recent optimism in the market. Thus, any dip near
HDFC
11172500
-4.00
1247.95
1.86
8300-8350 levels should be used as a buying
NHPC
41931000
-3.48
27.70
-2.29
opportunity.
IBULHSGFIN
12112800
-3.35
748.95
3.01
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TCS
30.43
NIFTY
1.23
1.12
KSCL
44.93
BANKNIFTY
1.04
0.90
AXISBANK
31.56
INFY
0.56
0.73
IDEA
43.33
TCS
0.37
0.60
MCLEODRUSS
31.00
SBIN
0.51
0.45
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Technical & Derivatives Report
January 16, 2017
FII Statistics for January 13, 2017
Turnover on January 13, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1814.64
1723.96
90.67
239643
15620.53
1.79
186126
12615.72
-5.15
FUTURES
FUTURES
INDEX
INDEX
25854.68
26084.17
(229.49)
1070891
69067.43
3.71
2924228
199472.85
-61.34
OPTIONS
OPTIONS
STOCK
7405.15
7577.19
(172.03)
897558
56582.13
1.83
STOCK
FUTURES
579319
37412.76
2.05
FUTURES
STOCK
STOCK
5185.10
5121.48
63.62
92261
6093.90
6.62
503816
31806.28
16.68
OPTIONS
OPTIONS
TOTAL
40259.57
40506.80
(247.23)
2300353
147363.99
2.88
TOTAL
4193489
281307.61
-52.58
Nifty Spot = 8400.35
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8400
75.20
Buy
8400
60.00
45.25
54.75
8445.25
29.00
71.00
8371.00
Sell
8500
29.95
Sell
8300
31.00
Buy
8400
75.20
Buy
8400
60.00
65.95
134.05
8465.95
43.55
156.45
8356.45
Sell
8600
9.25
Sell
8200
16.45
Buy
8500
29.95
Buy
8300
31.00
20.70
79.30
8520.70
14.55
85.45
8285.45
Sell
8600
9.25
Sell
8200
16.45
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 16, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,313
1,321
1,336
1,344
1,358
ADANIPORTS
289
291
293
296
298
AMBUJACEM
210
212
213
215
217
ASIANPAINT
922
928
933
939
944
AUROPHARMA
684
694
704
714
724
AXISBANK
448
460
468
480
488
BAJAJ-AUTO
2,655
2,682
2,718
2,744
2,780
BANKBARODA
155
156
158
159
161
BHEL
127
128
129
130
131
BPCL
644
651
658
665
672
BHARTIARTL
311
316
320
325
329
INFRATEL
347
351
355
358
362
BOSCH
20,950
21,110
21,305
21,464
21,659
CIPLA
574
579
584
589
594
COALINDIA
310
313
316
318
322
DRREDDY
2,957
2,969
2,986
2,998
3,015
EICHERMOT
22,503
22,649
22,824
22,969
23,145
GAIL
437
445
450
457
463
GRASIM
834
840
849
855
864
HCLTECH
830
840
849
859
868
HDFCBANK
1,223
1,228
1,234
1,239
1,245
HDFC
1,212
1,230
1,240
1,258
1,269
HEROMOTOCO
2,978
3,012
3,056
3,090
3,133
HINDALCO
166
169
174
177
182
HINDUNILVR
819
824
830
834
840
ICICIBANK
262
265
268
270
273
IDEA
63
66
69
72
75
INDUSINDBK
1,185
1,200
1,218
1,234
1,252
INFY
916
946
993
1,023
1,070
ITC
239
244
248
253
256
KOTAKBANK
718
723
729
734
740
LT
1,416
1,427
1,444
1,455
1,471
LUPIN
1,476
1,486
1,497
1,507
1,518
M&M
1,209
1,213
1,220
1,225
1,232
MARUTI
5,615
5,657
5,726
5,768
5,836
NTPC
168
169
172
174
177
ONGC
198
200
202
203
206
POWERGRID
194
196
198
199
202
RELIANCE
1,078
1,084
1,091
1,097
1,104
SBIN
247
249
251
253
254
SUNPHARMA
636
645
651
659
666
TCS
2,162
2,205
2,282
2,326
2,402
TATAMTRDVR
315
319
324
329
334
TATAMOTORS
499
507
515
523
531
TATAPOWER
78
79
79
80
81
TATASTEEL
437
442
446
451
455
TECHM
477
483
488
494
499
ULTRACEMCO
3,274
3,297
3,333
3,355
3,391
WIPRO
478
481
484
487
490
YESBANK
1,293
1,305
1,320
1,332
1,347
ZEEL
461
469
475
483
489
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Technical & Derivatives Report
January 16, 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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