Technical & Derivatives Report
April 17, 2017
Sensex (29461) / Nifty (9151)
Exhibit 1: Nifty Daily Chart
Despite SGX Nifty indicating a weak start, Thursday’s flat opening
was mainly influenced by the IT giant ‘Infosys’ as the counter
opened higher on the back 4QFY2017 results. However, the
market once again witnessed some selling pressure in initial
trades and as a result; we witnessed a gradual decline throughout
the remaining part to end the session tad above the 9150 mark.
At present, the Nifty is trading around its strong support of ’20
EMA’ (9141) on the daily chart, which coincides with the ‘5 EMA’
(9122) on weekly chart. In the ongoing rally of last four months,
the mentioned set of moving averages provided a rock solid
support for the Nifty as it is yet to close below the same since
December 30, 2016. Further, looking at the intraday chart, we
can see a formation of Bullish Harmonic Pattern called ‘Bullish
Bat’ and the Potential Reversal Zone (PRZ) of the same is placed
at 9055 - 9050. In addition, the hourly ‘200 SMA’ lies around
9100. Considering this cluster of multiple moving averages and
key Fibonacci ratios, we would like to continue with our recent
‘Buy On dips’ strategy. Thus, traders are advised to initiate fresh
longs in the vicinity of 9100 - 9050 as long as recent swing low
of 9020 remains unbroken on a closing basis. On the upside, our
directional target of 9400 - 9600 remains intact. The momentum
in the upward direction would be seen once the breakout beyond
intraday hurdles of 9225 - 9246 gets confirmed.
Key Levels
Support 1 - 9100
Resistance 1 - 9225
Support 2 - 9050
Resistance 2 - 9246
Nifty Bank Outlook - (21687)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index was one of the
outperforming sectors wherein the index gained 1.19 percent
over its previous week's close.
On the daily as well as the weekly charts, the index has not shown
any signs of reversal. Hence, we continue with our optimistic
stance on the index. If we meticulously observe the daily charts,
the '20 DEMA' is a crucial support as the index has not closed
below the same in last three months. The mentioned support is
placed around 21350 and hence, we advised traders to continue
with the optimistic view and revise the stop losses on their existing
positions below the mentioned support. On the flipside, the index
has potential to move higher towards 22410, which is the
161.8% reciprocal retracement of the previous corrective move
from 20575 to 17607. The intraday supports for the index are
placed around 21465 and 21350 whereas resistances are seen
around 21793 and 22000.
Key Levels
Support 1 - 21465
Resistance 1 - 21793
Support 2 - 21350
Resistance 2 - 22000
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Technical & Derivatives Report
April 17, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.71%
BankNifty futures open interest has increased by 5.58%
as market closed at 9150.80 levels.
The Nifty April future closed with a premium of 31.45
points against the premium of 19.75 points in last
trading session. The May series closed at a premium of
57.80 points.
The Implied Volatility of at the money options has
increased from 10.30% to 10.39%. At the same time, the
PCR-OI of Nifty has decreased from 1.10 to 1.09 levels.
The total OI of the market is Rs. 3,26,401/- cr. and the
stock futures OI is Rs. 1,00,491/- cr.
Few of the liquid counters where we have seen high cost
of
carry
are INFIBEAM, JSWENERGY, IFCI,
MUTHOOTFIN and SOUTHBANK.
Views
OI Gainers
On Thursday, FIIs were net sellers in cash market
OI
PRICE
SCRIP
OI
PRICE
segment to the tune of Rs. 408 crores. While, in index
CHG. (%)
CHG. (%)
futures they were net buyers worth Rs. 147 crores with
IBREALEST
40210000
57.81
106.55
7.74
fall in open interest, suggesting short covering took place
DALMIABHA
330600
16.12
2124.05
-2.10
in previous trading session.
CAPF
1040000
15.25
789.70
-1.08
In index options, FIIs bought significantly of Rs. 1984
EQUITAS
9792000
11.56
167.05
1.18
crores with decent rise in open interest. In call option,
TATASTEEL
30802000
11.46
465.75
-2.91
9300 and 9200 strikes continued adding fresh positions.
WIPRO
9735600
10.76
494.60
-1.14
On the flip side, out-the-money (OTM) 8500 and 8600
INFY
38526500
10.59
936.30
-3.45
strikes were most active and they also added decent
SUZLON
248910000
10.27
19.85
-0.50
open interest. Highest open interest in current series is
placed at 9300 call and 9000 put options.
OI Losers
Last week, Nifty traded in a narrow range of merely 100
OI
PRICE
points. FIIs unwounded some of their long positions and
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
also added fresh shorts in Index Futures, but the
BRITANNIA
362600
-6.40
3405.00
-1.55
quantum of both was insignificant. In Index Options
ADANIPOWER
119660000
-6.35
32.95
-2.80
front, they bought good amount of put options and we
CAIRN
26831000
-5.85
295.80
-4.57
believe these positions were formed mainly to hedge
JETAIRWAYS
5499000
-5.73
503.15
-0.60
their longs formed in Index Futures during last couple of
BANKBARODA
45720500
-5.66
175.85
1.94
months. Hence, unless we don’t see any major signs of
COALINDIA
20445900
-5.51
291.10
0.33
reversal from FIIs desk, traders are suggested to adopt
APOLLOHOSP
1831600
-5.18
1176.80
0.25
‘buy on dips’ strategy.
ENGINERSIN
27251000
-4.70
158.05
1.93
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
PEL
47.40
NIFTY
1.09
1.15
CAIRN
33.96
BANKNIFTY
1.08
0.94
INFY
30.36
INFY
0.49
0.64
HINDALCO
41.16
RELIANCE
0.51
0.44
VEDL
45.18
SBIN
0.57
0.52
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Technical & Derivatives Report
April 17, 2017
FII Statistics for April 13, 2017
Turnover on April 13, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1215.72
1068.98
146.74
315638
22384.04
(1.26)
152550
11533.04
-39.37
FUTURES
FUTURES
INDEX
INDEX
28521.07
26536.94
1984.13
899733
62991.49
3.28
7376504
614386.51
23.64
OPTIONS
OPTIONS
STOCK
5619.81
6176.39
(556.58)
1181918
79769.93
0.38
STOCK
FUTURES
572635
42410.41
-16.76
FUTURES
STOCK
STOCK
6121.54
6323.98
(202.43)
92757
6737.92
5.90
485478
34839.25
3.71
OPTIONS
OPTIONS
TOTAL
41478.14
40106.29
1371.85
2490046
171883.38
1.39
TOTAL
8587167
703169.20
17.10
Nifty Spot = 9150.80
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9200
65.35
Buy
9200
82.30
38.00
62.00
9238.00
37.20
62.80
9162.80
Sell
9300
27.35
Sell
9100
45.10
Buy
9200
65.35
Buy
9200
82.30
56.40
143.60
9256.40
58.80
141.20
9141.20
Sell
9400
8.95
Sell
9000
23.50
Buy
9300
27.35
Buy
9100
45.10
18.40
81.60
9318.40
21.60
78.40
9078.40
Sell
9400
8.95
Sell
9000
23.50
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 17, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,473
1,484
1,498
1,509
1,523
ADANIPORTS
317
322
324
329
331
AMBUJACEM
242
245
248
252
254
ASIANPAINT
1,057
1,064
1,073
1,079
1,088
AUROPHARMA
648
652
659
663
669
AXISBANK
498
502
507
511
515
BAJAJ-AUTO
2,821
2,830
2,849
2,859
2,878
BANKBARODA
168
170
174
176
180
BPCL
693
705
723
736
754
BHARTIARTL
334
342
348
356
362
INFRATEL
342
355
363
375
383
BOSCHLTD
22,935
23,149
23,399
23,613
23,864
CIPLA
571
575
579
583
587
COALINDIA
287
289
290
292
293
DRREDDY
2,620
2,633
2,649
2,662
2,678
EICHERMOT
25,924
26,173
26,299
26,548
26,674
GAIL
373
375
380
383
387
GRASIM
1,038
1,055
1,065
1,082
1,092
HCLTECH
796
814
823
841
850
HDFCBANK
1,431
1,438
1,443
1,449
1,455
HDFC
1,447
1,457
1,471
1,481
1,494
HEROMOTOCO
3,193
3,210
3,228
3,245
3,262
HINDALCO
180
186
189
196
199
HINDUNILVR
913
918
924
929
935
IBULHSGFIN
923
930
945
951
966
ICICIBANK
276
278
282
285
288
IOC
395
402
415
423
436
INDUSINDBK
1,420
1,429
1,437
1,445
1,453
INFY
898
934
962
997
1,025
ITC
276
279
280
283
285
KOTAKBANK
867
873
879
885
890
LT
1,668
1,685
1,690
1,707
1,712
LUPIN
1,417
1,428
1,441
1,453
1,466
M&M
1,264
1,272
1,277
1,285
1,290
MARUTI
6,024
6,089
6,132
6,197
6,240
NTPC
164
164
165
166
166
ONGC
183
185
186
188
189
POWERGRID
194
196
198
200
203
RELIANCE
1,332
1,343
1,358
1,369
1,384
SBIN
288
289
291
292
294
SUNPHARMA
670
677
688
695
707
TCS
2,286
2,340
2,374
2,428
2,462
TATAMTRDVR
274
279
282
287
289
TATAMOTORS
448
456
460
468
472
TATAPOWER
84
85
85
86
86
TATASTEEL
456
467
473
484
490
TECHM
421
429
436
444
451
ULTRACEMCO
3,995
4,014
4,029
4,048
4,063
WIPRO
487
494
499
506
511
YESBANK
1,603
1,617
1,628
1,642
1,652
ZEEL
514
522
528
537
543
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Technical & Derivatives Report
April 17, 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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