Technical & Derivatives Report
August 18, 2017
Sensex (31795) / Nifty (9904)
Exhibit 1: Nifty Daily Chart
Yesterday, despite having muted cues from the global peers,
our markets started the session on a positive note. This was
mainly on the back of a strong opening from the IT giant
Infosys, post its buyback announcement. However, despite
this, there was no other trigger for such strong opening and
hence, we got to see a perfect instance of how index
balancing is done. The banking index remained under
pressure throughout the day to compensate Infy’s strong
move. As a result, the Nifty eventually pared down all losses
during the day to end the session on a flat note.
In our earlier article, we had mentioned a strong resistance
zone of 9900 - 9940 and if we look at yesterday’s high, the
higher end of 9940 has certainly proved its significance.
Going forward, we continue to expect a strong selling
pressure around this mentioned hurdle and hence, traders are
advised not to create fresh longs at current levels. On the
downside, 9830 - 9773 remains to be important support
levels for the index.
Key Levels
Support 1 - 9830
Resistance 1 - 9940
Support 2 - 9773
Resistance 2 - 9961
Nifty Bank Outlook - (24237)
Exhibit 2: Nifty Bank Daily Chart
Although the Nifty Bank index opened marginally higher
yesterday, the banking stocks consolidated in a range and
hence, the Nifty Bank index underperformed the broader
indices. Eventually, the index ended the session with a loss of
0.82 percent over its previous session's close.
The Nifty Bank index has precisely halted its pullback move
near our mentioned resistance around 24508, which is the
50% retracement of the recent corrective move from 25199 to
23822.The 'RSI' oscillator on the daily and well as the hourly
chart has turned lower. This price and RSI set up is indicating a
higher probability of another leg of corrective move in the
index in near term. Hence, we continue to be cautious in the
Nifty Bank index and its constituents from a near term
perspective. Only if the index crosses the mentioned resistance
of 24508, we will then re-access the charts and change our
stance on the index. The intraday supports for the Nifty Bank
index are placed around
24100 and
23950 whereas
resistances are seen around 24400 and 24508.
Key Levels
Support 1 - 24100
Resistance 1 - 24400
Support 2 - 23950
Resistance 2 - 24508
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Technical & Derivatives Report
August 18, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 6.19%
BankNifty futures open interest has increased by 4.58%
as market closed at 9904.15 levels.
The Nifty August future closed with a premium of 5.30
points against the premium of 7.65 points in last trading
session. The September series closed at a premium of
34.85 points.
The Implied Volatility of at the money options has
decreased from 11.92 to 11.24. At the same time, the
PCR-OI of Nifty has increased from 1.18 levels to 1.21.
Few of the liquid counters where we have seen high cost
of carry are EQUITAS, INFIBEAM, SHREECEM,
GODREJCP and SREINFRA.
Views
FIIs were net sellers in cash market segment and index
futures. They sold equities to the tune of Rs.981 crores.
OI Gainers
While, in index futures they were net sellers of worth
OI
PRICE
Rs. 253 crores with some rise in open interest, indicating
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
fresh short formation in previous trading session.
HEXAWARE
2814000
26.08
278.45
5.04
In index options segment, they were net sellers of
BEML
2295000
22.91
1865.70
8.16
Rs. 182 crores with rise in open interest. In call option,
APOLLOHOSP
1467500
14.42
1103.75
-5.21
10200 strike added some positions, followed by
MOTHERSUMI
8235000
12.27
325.00
-2.40
unwinding in 9700 and 9800 call option. On the flip
HDFC
10921000
11.78
1759.75
0.99
side, huge positions got formed in
9800-9900 put
BERGEPAINT
1047200
11.48
242.90
-1.72
option, along with some unwinding in out the money
COALINDIA
29124400
10.37
246.95
3.28
strike 9400. Maximum concentration of open interest for
ADANIPORTS
7545000
9.63
390.80
-1.91
August series is placed at 10000 call and of put option
has shifted back to 9800.
OI Losers
FIIs continue adding bearish F&O bets despite strong
OI
PRICE
upmove in last 2-3 trading session. Since start of August
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
series, we witnessed huge short formation in index
HAVELLS
3312000
-7.90
473.60
1.84
futures by stronger hand, resulting plunge in their index
NATIONALUM
10336000
-7.18
70.40
1.44
Futures ‘Long Short Ratio’ from 82% to 53% (Lowest in
EXIDEIND
12760000
-6.70
213.70
3.04
calendar year 2017). Implied Volatility has also surged
MCDOWELL-N
1798750
-6.69
2602.65
1.76
above the resistance level of 12.70-12.80 seen in last
NIITTECH
1269000
-5.79
499.40
1.34
five series. Taking into consideration the above data, we
GODFRYPHLP
729000
-5.51
1076.95
3.27
believe Nifty has limited upside and hence, would advise
MARICO
4674800
-4.36
320.40
0.79
short term traders to avoid forming any bullish bets in
REPCOHOME
610400
-3.86
682.45
-2.42
index.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
INFY
29.66
NIFTY
1.21
1.06
APOLLOHOSP
35.20
BANKNIFTY
0.75
0.77
GMRINFRA
81.83
RELIANCE
0.47
0.41
GSFC
63.08
SBIN
0.41
0.41
HEXAWARE
42.56
TATAMOTORS
0.34
0.50
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Technical & Derivatives Report
August 18, 2017
FII Statistics for August 17, 2017
Turnover on August 17, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1686.49
1939.30
(252.81)
330288
24911.32
1.39
221178
18723.78
-20.03
FUTURES
FUTURES
INDEX
INDEX
79587.85
79769.70
(181.85)
1177609
89787.08
1.64
11096007
1038151.17
40.65
OPTIONS
OPTIONS
STOCK
9374.44
8648.02
726.42
831063
57220.29
0.42
STOCK
FUTURES
684100
50661.29
-0.17
FUTURES
STOCK
STOCK
7184.72
7212.45
(27.73)
143119
10334.71
2.46
516583
39670.27
5.26
OPTIONS
OPTIONS
Total
97833.50
97569.47
264.04
2482079
182253.40
1.24
TOTAL
12517868
1147206.52
34.97
Nifty Spot = 9904.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9900
91.70
Buy
9900
85.75
46.25
53.75
9946.25
31.50
68.50
9868.50
Sell
10000
45.45
Sell
9800
54.25
Buy
9900
91.70
Buy
9900
85.75
70.70
129.30
9970.70
51.55
148.45
9848.45
Sell
10100
21.00
Sell
9700
34.20
Buy
10000
45.45
Buy
9800
54.25
24.45
75.55
10024.45
20.05
79.95
9779.95
Sell
10100
21.00
Sell
9700
34.20
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
August 18, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,739
1,759
1,792
1,813
1,846
ADANIPORTS
380
384
393
398
406
AMBUJACEM
266
269
272
274
277
ASIANPAINT
1,126
1,130
1,137
1,141
1,147
AUROPHARMA
685
694
710
719
734
AXISBANK
490
494
499
502
507
BAJAJ-AUTO
2,785
2,805
2,837
2,857
2,889
BANKBARODA
143
146
149
151
155
BPCL
469
481
493
505
517
BHARTIARTL
400
408
414
422
428
INFRATEL
372
376
382
386
392
BOSCHLTD
21,679
21,859
22,179
22,359
22,679
CIPLA
555
564
579
588
603
COALINDIA
232
240
244
252
257
DRREDDY
1,972
1,992
2,012
2,031
2,051
EICHERMOT
30,403
30,666
30,879
31,142
31,356
GAIL
367
372
375
379
383
HCLTECH
855
863
869
877
883
HDFCBANK
1,740
1,752
1,767
1,780
1,794
HDFC
1,703
1,731
1,749
1,777
1,794
HEROMOTOCO
3,941
3,970
4,004
4,032
4,067
HINDALCO
221
226
233
237
244
HINDUNILVR
1,156
1,167
1,176
1,187
1,196
IBULHSGFIN
1,179
1,190
1,205
1,215
1,230
ICICIBANK
288
290
294
297
301
IOC
420
423
426
430
433
INDUSINDBK
1,599
1,614
1,632
1,647
1,665
INFY
985
1,003
1,016
1,034
1,047
ITC
275
278
280
283
285
KOTAKBANK
970
980
991
1,001
1,012
LT
1,115
1,124
1,141
1,150
1,167
LUPIN
940
947
958
965
975
M&M
1,351
1,359
1,367
1,375
1,383
MARUTI
7,475
7,529
7,619
7,673
7,763
NTPC
166
172
175
180
183
ONGC
159
160
161
162
162
POWERGRID
217
218
220
221
223
RELIANCE
1,539
1,553
1,575
1,589
1,612
SBIN
277
279
282
284
287
SUNPHARMA
477
482
486
492
496
TCS
2,441
2,464
2,484
2,506
2,527
TATAMTRDVR
224
226
231
233
237
TATAMOTORS
379
382
387
390
395
TATAPOWER
81
81
82
82
83
TATASTEEL
616
621
629
634
642
TECHM
417
421
425
429
434
ULTRACEMCO
3,872
3,903
3,947
3,978
4,023
VEDANTA
296
300
305
310
315
WIPRO
286
287
289
290
292
YESBANK
1,699
1,719
1,749
1,768
1,799
ZEEL
501
514
522
535
543
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Technical & Derivatives Report
August 18, 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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