Technical & Derivatives Report
March 16, 2017
Sensex (29398) / Nifty (9085)
Exhibit 1: Nifty Daily Chart
It seems that our markets have slipped into a consolidation mode
post the event and this is what we generally see after a big gap
up or gap down. In technical terms, we can call it as a ‘Time-wise
Correction’. Yesterday’s session opened flat in-line with global
peers and subsequently, the benchmark index remained in a thin
range of 31 points throughout the day, which is hard to see.
Eventually, the Nifty ended the session almost at previous close by
posting yet another close well above the 9000 mark.
This lethargic price action was quite likely as we generally see
immediate reaction once the event gets unfolded and then some
consolidation in following days. Since there is no major change in
the chart structure, our bullish view remains intact. We would
continue to remain upbeat on 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, Tuesday’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 - (21158)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index too traded in a narrow range ahead of the
US Federal Reserve meeting and ended the session on a marginal
positive note.
Post a gap up opening on Tuesday, the index has consolidated in
last couple of trading sessions. The broader trend continues to be
positive as there are no signs of reversal on the charts. Hence, we
continue to advise traders to trade with positive bias and use any
dips as buying opportunity. Along with the Private Sector index
heavyweights, the PSU Bank stocks too are hinting at positive
momentum after a consolidation phase. Traders can thus, look
for stock specific buying opportunities which could fetch better
returns. The near-term supports for the index are placed around
20875 and 20740 whereas resistance is seen in the range of
21377-21412.
Key Levels
Support 1 - 20875
Resistance 1 - 21377
Support 2 - 20740
Resistance 2 - 21412
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Technical & Derivatives Report
March 16, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.87%
BankNifty futures open interest has decreased by 0.27%
as market closed at 9084.80 levels.
The Nifty March future closed with a premium of 24.50
points against the premium of 16.00 points in last
trading session. The April series closed at a premium of
53.55 points.
The Implied Volatility of at the money options has
increased from 10.66% to 10.79%. At the same time, the
PCR-OI of Nifty has increased from 0.96 to 1.03 levels.
The total OI of the market is Rs. 3,21,258/- cr. and the
stock futures OI is Rs. 94,093/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, GMRINFRA, TORNTPHARM,
CGPOWER and ALBK.
Views
FIIs continue pouring liquidity in cash market segment;
OI Gainers
they bought equities to the tune of Rs. 1141 crores.
OI
PRICE
While, in index futures they were sellers worth Rs. 237
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
crores with marginal change in open interest, suggesting
ICIL
4679500
36.15
190.25
7.61
blend of long unwinding and some fresh short formation
PAGEIND
33800
21.58
14645.90
2.10
in previous trading session.
JPASSOCIAT
165716000
17.39
15.05
6.36
In index options, FIIs were buyers of Rs. 1025 crores with
TORNTPOWER
5667000
11.51
191.80
-2.57
rise in open interest. In call option, we hardly witnessed
HEROMOTOCO
1375200
9.95
3357.20
1.24
any strike adding meaningful OI. However, good
IGL
1904100
9.90
1023.40
-0.27
amount of unwinding was seen in 9000 and 9200 call
IOC
17325000
8.37
371.25
-0.95
options. On the other hand in put options, 8800 strike
AMARAJABAT
2096400
7.97
869.20
3.95
added decent buildup and we believe these are long
positions formed by retail participants. Highest open
OI Losers
interest in March series is placed at 9200 call and 8800
OI
PRICE
put options.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
We started this week on very strong notes which lead the
COLPAL
1145200
-8.96
957.05
0.30
benchmark index making a new high. However, after this
LICHSGFIN
7243500
-6.10
587.75
1.10
big move we witnessed some consolidation in yesterday’s
JETAIRWAYS
5049000
-4.97
455.35
1.73
session. FIIs continued their buying streak in cash
RECLTD
29412000
-4.85
159.85
1.14
segment. While, longs formed in past few series are still
JINDALSTEL
37242000
-4.68
123.20
-1.44
intact. Hence, we continue to remain optimistic on
SIEMENS
901500
-4.25
1258.25
0.10
market and expect Nifty to continue its momentum. Thus,
TATAPOWER
29394000
-3.97
85.15
1.61
traders are suggested to hold on to their longs unless we
AXISBANK
27379200
-3.68
513.95
0.16
witness any major change in data.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
MRF
41.17
NIFTY
1.03
0.85
IRB
39.91
BANKNIFTY
0.92
0.91
AMARAJABAT
28.11
RELIANCE
0.78
0.54
ICIL
53.37
SBIN
0.55
0.44
IDEA
76.95
ICICIBANK
0.59
0.70
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Technical & Derivatives Report
March 16, 2017
FII Statistics for March 15, 2017
Turnover on March 15, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1294.79
1531.78
(236.99)
375946
26187.86
0.26
141039
10600.14
-50.21
FUTURES
FUTURES
INDEX
INDEX
23552.40
22527.31
1025.09
1021951
70887.76
1.43
3406022
267589.96
-24.75
OPTIONS
OPTIONS
STOCK
7408.67
7787.55
(378.89)
1054211
71926.00
0.88
STOCK
FUTURES
601040
44556.21
-7.94
FUTURES
STOCK
STOCK
4142.84
4237.14
(94.30)
101746
7203.44
2.55
358098
26929.56
-11.69
OPTIONS
OPTIONS
TOTAL
36398.70
36083.79
314.91
2553854
176205.06
1.07
TOTAL
4506199
349675.87
-23.28
Nifty Spot = 9084.80
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9100
85.60
Buy
9100
75.30
44.15
55.85
9144.15
33.50
66.50
9066.50
Sell
9200
41.45
Sell
9000
41.80
Buy
9100
85.60
Buy
9100
75.30
68.85
131.15
9168.85
52.40
147.60
9047.60
Sell
9300
16.75
Sell
8900
22.90
Buy
9200
41.45
Buy
9000
41.80
24.70
75.30
9224.70
18.90
81.10
8981.10
Sell
9300
16.75
Sell
8900
22.90
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 16, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,410
1,415
1,423
1,429
1,437
ADANIPORTS
305
308
311
313
317
AMBUJACEM
230
232
233
235
237
ASIANPAINT
1,052
1,058
1,067
1,073
1,081
AUROPHARMA
660
669
674
684
689
AXISBANK
505
509
512
515
519
BAJAJ-AUTO
2,839
2,856
2,873
2,890
2,907
BANKBARODA
158
162
165
169
172
BHEL
159
163
165
169
172
BPCL
627
632
638
643
649
BHARTIARTL
352
358
362
368
372
INFRATEL
305
307
310
312
315
BOSCH
22,050
22,417
22,668
23,035
23,286
CIPLA
594
597
602
605
609
COALINDIA
289
291
294
296
299
DRREDDY
2,708
2,724
2,740
2,756
2,772
EICHERMOT
23,704
23,919
24,118
24,332
24,531
GAIL
370
373
375
378
381
GRASIM
1,010
1,029
1,048
1,067
1,085
HCLTECH
827
835
845
853
864
HDFCBANK
1,406
1,411
1,416
1,421
1,425
HDFC
1,408
1,417
1,426
1,435
1,444
HEROMOTOCO
3,306
3,353
3,383
3,430
3,460
HINDALCO
188
190
191
192
194
HINDUNILVR
887
894
906
912
924
ICICIBANK
283
284
285
287
288
IDEA
98
105
111
119
124
INDUSINDBK
1,335
1,341
1,352
1,359
1,370
INFY
991
1,001
1,018
1,029
1,046
ITC
263
265
268
271
274
KOTAKBANK
829
837
843
850
856
LT
1,530
1,539
1,550
1,559
1,570
LUPIN
1,438
1,444
1,450
1,456
1,462
M&M
1,305
1,314
1,326
1,336
1,348
MARUTI
6,057
6,097
6,133
6,173
6,209
NTPC
157
158
159
160
161
ONGC
189
190
191
192
194
POWERGRID
192
192
193
194
195
RELIANCE
1,278
1,291
1,304
1,317
1,330
SBIN
269
273
277
281
285
SUNPHARMA
696
701
709
714
722
TCS
2,443
2,471
2,521
2,549
2,600
TATAMTRDVR
279
283
285
289
292
TATAMOTORS
468
471
474
476
479
TATAPOWER
82
84
85
86
87
TATASTEEL
467
473
476
483
486
TECHM
466
473
479
486
492
ULTRACEMCO
3,936
3,977
4,007
4,047
4,077
WIPRO
484
490
498
503
511
YESBANK
1,512
1,521
1,528
1,537
1,545
ZEEL
513
519
524
530
534
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Technical & Derivatives Report
March 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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