Technical & Derivatives Report
October 16, 2017
Exhibit 1: Nifty Daily Chart
Sensex (32433) / Nifty (10168)
On Friday, our markets opened higher as indicated by SGX
NIFTY. The optimism further accelerated as the day
progressed to extend early morning gains towards 10191.
However, we witnessed some profit booking during the
penultimate hour to conclude the session at 10167 with gains
of 0.70% over its previous day’s close.
Technically speaking, the index has been vacillating within the
boundaries of a ‘Broadening’ pattern since last three months.
As per the theory, the higher end is placed in the range of
10200 - 10220. We still believe that one should not trade
aggressively in the market as there is a series of divergences
on ‘RSI-Smoothened’. Yes, market is not obliging this
indicator; but, considering historical performances of this
indicator, we need to give some respect. Our strategy is to
keep focusing on individual stocks and one should keep
booking profits in rallies. For this week, immediate resistance
would be seen at 10200 - 10220 and a sustainable move
beyond this would extend this rally. On the flipside, 10120 -
9955 are likely to act as strong support levels. Being a Diwali
week, we expect some kind of consolidation in the market.
Key Levels
Support 1 - 10120
Resistance 1 - 10200
Support 2 - 10074
Resistance 2 - 10220
Nifty Bank Outlook - (24689)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index continued its positive momentum in
Friday's trading session as well and ended the week with gains
of above 2 percent over the previous week’s close.
In last two trading sessions, the index had gained tremendous
momentum which has been supported by a broad
participation from the stocks within the sector. The earlier
resistance zone of 24420-24460 should now act as a support
on declines whereas a continuation of positive momentum
could lead the index towards 25000. The intraday supports for
the Nifty Bank index are placed around 24530 and 24460
whereas resistances are seen around 24785 and 25000.
Key Levels
Support 1 - 24530
Resistance 1 - 24785
Support 2 - 24460
Resistance 2 - 25000
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October 16, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.74%
BankNifty futures open interest has increased by 1.29%
as market closed at 10167.46 levels.
The Nifty October future closed with a premium of 24.95
points against a premium of 15 points in last trading
session. The November series closed at a premium of
56.90 points.
The Implied Volatility of at the money options has
increased from 9.28 to 9.46. At the same time, the PCR-
OI of Nifty has increased from 1.51 to 1.63 level.
Few of the liquid counters where we have seen high cost
of carry are NHPC, IFCI, SUZLON, NTPC and
RAYMOND.
Views
FIIs were net sellers in cash market segment to the tune
OI Gainers
of Rs. 1699 crores. While, in index futures they net
OI
PRICE
SCRIP
OI
PRICE
buyers of Rs. 808 crores with good amount of rise in
CHG. (%)
CHG. (%)
open interest, suggesting long formation on Friday’s
MCX
1503000
20.63
1138.55
0.27
trading session.
BHARTIARTL
31679500
14.58
432.20
7.50
In index options front, they bought of worth Rs. 207 with
RAMCOCEM
538400
14.26
686.85
-0.96
rise in open interest. In call option, we saw some
KTKBANK
28355600
12.13
164.25
6.66
build-up in 10200 and 10400 strikes, followed by huge
PVR
700800
11.24
1406.50
3.62
unwinding in 9900-10100 call options. On the flip side,
TVSMOTOR
7132000
10.71
693.90
0.41
10100 and 10200 puts added meaningful positions.
JPASSOCIAT
196316000
10.36
19.85
2.58
Maximum concentration of open interest has shifted
NIITTECH
934500
7.60
625.60
1.64
higher to 10200 call and 10000 put options.
The benchmark index rallied 1.89% and hits a new
OI Losers
record high along with decent open interest additions,
OI
PRICE
suggesting continuation of long formation during
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
preceding week. FIIs too actively participated in recent
TORNTPHARM
295200
-13.07
1272.15
-1.07
upmove by forming fresh long positions in index as well
CUMMINSIND
580200
-11.04
911.20
1.10
as stock futures. At the same time, highest open interest
TCS
7327500
-8.60
2559.60
0.84
in put option has shifted higher to
10000 strike,
NBCC
4305000
-7.36
244.10
0.51
indicating strong base formation around 9950-10000
CHENNPETRO
2082000
-6.72
432.90
0.73
levels. Thus, we believe unless we don’t see any relevant
TATASTEEL
26954000
-6.52
711.40
2.62
correction below support zone, market may continue its
INDUSINDBK
4546200
-5.98
1750.85
0.36
ongoing momentum.
JINDALSTEL
34591500
-5.50
163.20
0.59
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
BHARTIARTL
45.53
NIFTY
1.63
1.11
CANFINHOME
45.25
BANKNIFTY
1.81
0.77
KTKBANK
48.88
RELIANCE
0.47
0.43
IDEA
44.73
INFY
0.67
0.43
HDFCBANK
16.89
SBIN
0.41
0.28
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Technical & Derivatives Report
October 16, 2017
FII Statistics for October 13, 2017
Turnover on October 13, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4010.51
3202.62
807.89
313751
24745.81
8.92
239318
20414.94
14.07
FUTURES
FUTURES
INDEX
INDEX
56338.51
56131.19
207.32
1107262
87759.90
5.37
5827418
509952.78
-50.52
OPTIONS
OPTIONS
STOCK
6937.58
6574.86
362.72
896919
63762.39
1.65
STOCK
FUTURES
650928
50041.65
12.27
FUTURES
STOCK
STOCK
6743.82
6917.41
(173.59)
82467
6237.87
6.51
538315
43542.56
24.09
OPTIONS
OPTIONS
Total
74030.41
72826.08
1204.34
2400399
182505.98
4.42
TOTAL
7255979
623951.94
-44.69
Nifty Spot = 10167.45
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10200
67.50
Buy
10100
44.80
40.70
59.30
10240.70
16.25
83.75
10083.75
Sell
10300
26.80
Sell
10000
28.55
Buy
10200
67.50
Buy
10100
44.80
57.55
142.45
10257.55
25.15
174.85
10074.85
Sell
10400
9.95
Sell
9900
19.65
Buy
10300
26.80
Buy
10000
28.55
16.85
83.15
10316.85
8.90
91.10
9991.10
Sell
10400
9.95
Sell
9900
19.65
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
October 16, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
397
403
406
412
415
AMBUJACEM
274
276
278
280
282
ASIANPAINT
1,146
1,160
1,169
1,183
1,191
AUROPHARMA
736
741
747
752
759
AXISBANK
517
523
529
535
541
BAJAJ-AUTO
3,115
3,138
3,159
3,182
3,203
BAJFINANCE
1,933
1,943
1,958
1,968
1,984
BPCL
479
484
489
494
499
BHARTIARTL
413
422
430
438
446
INFRATEL
424
437
446
459
468
BOSCHLTD
20,887
21,229
21,465
21,807
22,043
CIPLA
583
588
593
598
603
COALINDIA
280
284
286
290
293
DRREDDY
2,332
2,343
2,361
2,373
2,391
EICHERMOT
31,021
31,210
31,400
31,589
31,779
GAIL
428
433
441
446
454
HCLTECH
903
915
925
937
948
HDFCBANK
1,809
1,830
1,843
1,864
1,878
HDFC
1,742
1,754
1,764
1,776
1,786
HEROMOTOCO
3,719
3,741
3,766
3,788
3,812
HINDALCO
259
263
265
269
271
HINDPETRO
446
453
457
464
468
HINDUNILVR
1,222
1,236
1,244
1,257
1,266
IBULHSGFIN
1,255
1,269
1,281
1,295
1,306
ICICIBANK
264
268
271
275
278
IOC
410
412
416
419
423
INDUSINDBK
1,732
1,741
1,750
1,759
1,767
INFY
924
927
930
933
936
ITC
263
264
266
268
269
KOTAKBANK
1,038
1,060
1,075
1,097
1,111
LT
1,128
1,133
1,142
1,147
1,155
LUPIN
1,048
1,055
1,062
1,069
1,076
M&M
1,309
1,317
1,331
1,340
1,354
MARUTI
7,811
7,843
7,891
7,923
7,971
NTPC
173
174
176
178
180
ONGC
167
169
169
171
171
POWERGRID
197
202
204
208
211
RELIANCE
863
870
880
887
898
SBIN
247
250
253
255
258
SUNPHARMA
527
531
537
541
547
TCS
2,478
2,518
2,564
2,604
2,649
TATAMOTORS
414
419
424
430
435
TATASTEEL
685
698
708
721
730
TECHM
469
473
476
480
483
ULTRACEMCO
3,855
3,930
3,975
4,050
4,095
UPL
790
796
806
813
823
VEDANTA
317
319
322
324
327
WIPRO
288
290
293
295
298
YESBANK
362
366
370
373
377
ZEEL
502
506
513
517
524
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Technical & Derivatives Report
October 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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