Technical & Derivatives Report
January 17, 2018
Sensex (34771) / Nifty (10700)
Exhibit 1: Nifty Daily Chart
Yesterday, we had a positive start for the session mainly on the back
of favorable cues from some of the major Asian peers. However,
there was almost an open-high kind of situation in the initial trades
and due to reasonable profit booking in the broader markets, the
index remained under pressure for the major part of the session.
Eventually, the Nifty ended precisely at the 10700 mark by shedding
four tenths of a percent.
On Monday, we saw index clocking new highs above 10700 with
banking index breaking the shackles. However, despite this, the Nifty
came off a bit after testing the ‘Upward Sloping Trend Line’ placed
around 10780. Now, due to yesterday’s corrective move, we can see
a gap filling activity to confirm the ‘Exhaustion Gap’, which certainly
does not bode well. We had stated this possibility in our previous
article and now, going by the gap theory, Monday’s high of
10782.65 has now become a strong hurdle and once the Nifty starts
sustaining below 10687; we can see a decent profit taking in days to
come. In this case, 10655 - 10597 levels can be retested. During the
session, we witnessed a strong bout of profit booking in the broader
market and hence, traders are repeatedly advised to remain light
and avoid taking undue risks. In-line with our recent view, the ‘Metal’
pack now looks a bit vulnerable and has seen some severe
liquidation of positions. Hence, as a momentum trader, one can look
for shorting opportunities in names like, Hindalco, Vedanta and Tata
Steel. Also, PSBs have taken a strong toll along with midcap ‘Private’
banking peers. Do watch out for these spaces as well. On the other
hand, the index balancing was successfully carried by the ‘IT’
heavyweights and they may continue to do so along with selective
‘Pharmaceutical’ names like, Dr. Reddy, Sun Pharma and Divis Lab.
Key Levels
Support 1 - 10655
Resistance 1 - 10740
Support 2 - 10597
Resistance 2 - 10783
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (25975)
The Nifty Bank index opened higher in yesterday's session, in line with
the previous day's momentum. However, it corrected marginally from
the opening highs during the session and ended the day with a loss
of 0.36 percent. Amidst a broader market sell-off yesterday, the index
heavyweights from the banking space witnessed stock specific
momentum. While some of the heavyweights traded in a range, stock
such as ICICI Bank provided support to the Nifty Bank index.
However, the highlight of the session was the PSU Banking basket as
the stocks from this space corrected sharply, leading to a cut of 2.81
percent in the Nifty PSU Bank index. With such negative market
breadth, we advise traders to be light on positions and trade with
proper risk management. As far as the index is concerned, the
support is placed in the range of 25843-25557 (Monday's gap area),
whereas resistance is seen around 26270.
Key Levels
Support 1 - 25843
Resistance 1 - 26200
Support 2 - 25775
Resistance 2 - 26270
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Technical & Derivatives Report
January 17, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.25%
BankNifty futures open interest has decreased by 6.34%
as market closed at 10700.45 levels.
The Nifty January future closed with a premium of 9.10
points against a premium of 1.75 points in last trading
session. The February series closed at a premium of
33.40 points.
The INDIA VIX has decreased from 14.30 to 14.08. At
the same time, the PCR-OI of Nifty has decreased from
1.78 to 1.66 level.
Few of the liquid counters where we have seen high cost
of carry are HDIL, RELCAPITAL, REPCOHOME, ICIL and
NATIONALUM.
Views
OI Gainers
FIIs were net buyers in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 693 crores. However, they were marginal sellers in
CHG. (%)
CHG. (%)
CHOLAFIN
1156000
27.03
1336.95
1.27
index futures with rise in OI, indicating blend of some
BEL
35694450
22.10
173.85
-2.88
long and short formation in yesterday’s trading session.
On options front, they were net buyers with rise in OI. In
ORIENTBANK
20310000
12.01
117.35
-4.28
call options, 10700-11000 strikes added good amount
NATIONALUM
48640000
11.54
79.85
-7.69
of fresh positions; followed by some unwinding in 10600
PCJEWELLER
16780500
10.37
579.20
-1.35
call option. On the flip side, we hardly saw any strike
CANBK
14224000
9.96
339.80
-4.27
adding relevant OI; but, good amount of unwinding was
AJANTPHARM
964500
9.66
1525.95
1.06
seen in
10400-10700 put options. Maximum
NIITTECH
1024500
7.90
710.60
1.11
concentration of open interest is firmly placed at 11000
call and 10500 put options.
Although index corrected 41 points yesterday, we hardly
OI Losers
saw any selling in F&O space. As far as FIIs activities are
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
concerned, they were buyers in cash market segment. At
CAPF
6925600
-12.10
786.90
-7.37
the same time, they continued adding long positions in
SRF
762000
-10.56
1962.35
-2.41
stock futures and index call options; while, short positions
DISHTV
46998000
-9.84
72.25
-7.79
formed in index put options still remains intact.
HAVELLS
3748000
-9.69
557.70
-0.60
Considering the above data points, we would still advise
AMARAJABAT
1862000
-9.59
856.55
-1.11
traders avoiding any bearish bets unless we don’t see
RPOWER
61048000
-7.76
51.30
-5.44
any meaningful change in data and index remains above
ZEEL
10704200
-7.61
614.15
1.09
10550-10600 levels.
JETAIRWAYS
5992800
-7.05
794.30
-3.33
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.66
1.32
FEDERALBNK
46.72
BANKNIFTY
1.24
0.99
NATIONALUM
52.57
INFY
1.28
0.49
WIPRO
35.35
RELIANCE
0.41
0.32
DISHTV
55.42
TATAMOTORS
0.36
0.40
CAPF
52.99
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Technical & Derivatives Report
January 17, 2018
FII Statistics for January 16, 2018
Turnover on January 16, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1627.18
1664.39
(37.21)
246705
20414.97
2.86
193090
16972.56
-6.45
FUTURES
FUTURES
INDEX
INDEX
51522.69
50518.23
1004.45
981222
80920.42
2.41
4869083
448904.03
-1.76
OPTIONS
OPTIONS
STOCK
11999.21
11117.41
881.79
990825
73931.98
0.95
STOCK
FUTURES
922765
71455.99
22.38
FUTURES
STOCK
STOCK
11137.42
11447.01
(309.59)
117663
9081.65
2.87
769188
60983.53
32.14
OPTIONS
OPTIONS
Total
76286.49
74747.04
1539.45
2336415
184349.01
1.85
TOTAL
6754126
598316.12
3.22
Nifty Spot = 10700.45
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10700
72.70
Buy
10700
66.75
44.20
55.80
10744.20
28.65
71.35
10671.35
Sell
10800
28.50
Sell
10600
38.10
Buy
10700
72.70
Buy
10700
66.75
63.85
136.15
10763.85
45.05
154.95
10654.95
Sell
10900
8.85
Sell
10500
21.70
Buy
10800
28.50
Buy
10600
38.10
19.65
80.35
10819.65
16.40
83.60
10583.60
Sell
10900
8.85
Sell
10500
21.70
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 17, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
414
419
423
428
433
AMBUJACEM
273
275
278
280
283
ASIANPAINT
1,172
1,180
1,192
1,201
1,212
AUROPHARMA
624
632
647
656
671
AXISBANK
551
557
562
568
573
BAJAJ-AUTO
3,117
3,138
3,162
3,183
3,207
BAJFINANCE
1,645
1,666
1,706
1,727
1,767
BPCL
468
474
481
487
494
BHARTIARTL
479
488
501
510
523
INFRATEL
361
364
370
373
379
BOSCHLTD
19,641
19,750
19,924
20,034
20,208
CIPLA
590
596
605
610
619
COALINDIA
281
286
296
301
311
DRREDDY
2,409
2,439
2,461
2,491
2,514
EICHERMOT
27,465
27,678
27,914
28,127
28,363
GAIL
462
470
481
489
500
HCLTECH
893
921
938
966
983
HDFCBANK
1,874
1,887
1,898
1,912
1,923
HDFC
1,816
1,831
1,851
1,865
1,885
HEROMOTOCO
3,524
3,555
3,609
3,641
3,695
HINDALCO
254
258
263
266
271
HINDPETRO
397
403
417
423
436
HINDUNILVR
1,353
1,367
1,378
1,393
1,404
IBULHSGFIN
1,175
1,190
1,213
1,228
1,251
ICICIBANK
320
327
334
341
348
IOC
378
381
386
389
394
INDUSINDBK
1,640
1,652
1,672
1,684
1,704
INFY
1,059
1,091
1,113
1,145
1,167
ITC
256
259
264
267
272
KOTAKBANK
1,018
1,026
1,035
1,042
1,051
LT
1,313
1,320
1,330
1,336
1,346
LUPIN
893
900
912
919
931
M&M
729
738
750
759
772
MARUTI
9,235
9,278
9,344
9,387
9,452
NTPC
169
171
173
175
177
ONGC
194
195
197
199
200
POWERGRID
192
194
197
199
202
RELIANCE
903
913
930
940
958
SBIN
290
293
298
301
306
SUNPHARMA
566
572
578
584
590
TCS
2,710
2,780
2,821
2,891
2,932
TATAMOTORS
410
416
426
432
441
TATASTEEL
747
756
770
779
792
TECHM
540
549
556
565
572
ULTRACEMCO
4,469
4,507
4,549
4,587
4,629
UPL
751
759
770
778
789
VEDANTA
316
323
332
339
348
WIPRO
309
321
327
339
345
YESBANK
323
329
334
340
345
ZEEL
602
608
613
619
624
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Technical & Derivatives Report
January 17, 2018
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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