Technical & Derivatives Report
April 19, 2017
Sensex (29319) / Nifty (9105)
Exhibit 1: Nifty Daily Chart
Yesterday’s session was clearly a nightmare for traders as the
intraday price movement was similar to a double-edged sword.
The Nifty opened marginally higher and gave a sudden spurt in
the initial hour to conquer the 9200 mark. Everything looked
hunky-dory; but, quite surprisingly to most of the traders
(including us); the index took a nosedive in the latter half due to
massive sell off seen across the broader market. As a result, the
index closed almost at the lowest point of the day to end the
session well inside the negative territory.
Yesterday’s price action must have caught most of the traders on
the wrong foot and honestly speaking, this sharp decline was
certainly not expected for us too. The velocity at which market
corrected in the second half is terrifying and literally a confidence
shattering move. Now, this is one of the days wherein you are left
with no clear strategy for the forthcoming session. Hence, we
would like to closely observe market movement in the coming
session around key levels. As far as near term direction is
concerned, it remains upward as long as 9020 remains intact on
a closing basis. For the coming trading session, traders should
keep a close eye on 9060, which is the 161% retracement of the
small up move from 9120.25 to 9217.90. On the upside, 9125 -
9175 would be seen as immediate hurdles for the index. Traders
are advised to stay light on positions and avoid taking fresh shorts
until 9020 remains unbroken.
Key Levels
Support 1 - 9060
Resistance 1 - 9125
Support 2 - 9020
Resistance 2 - 9175
Nifty Bank Outlook - (21672)
Exhibit 2: Nifty Bank Daily Chart
Yesterday, the Nifty Bank index opened on a positive and rallied
in the first half of the session; but, surprisingly, the banking index
tumbled sharply in the later half and shaved-off all its intraday
gains. Eventually, the Nifty Bank index ended the session with
negligible gains of 0.11 percent over its previous close.
Though, the Nifty Bank index ended in positive territory,
yesterday’s candle of banking index doesn’t bode well for bulls as
it made a ‘Shooting Star’ pattern on daily chart. Generally, the
mentioned pattern can be a reversal trigger on a follow-up
selling; but, considering the strong support in the zone of 21330
- 21445, we are expecting some time correction rather than price
correction. On the flipside, the intraday resistance for the index
are placed around 21950 and 22100. Thus, traders are advised
to trade with positive bias till it holds 21330 on closing basis.
Key Levels
Support 1 - 21445
Resistance 1 - 21950
Support 2 - 21330
Resistance 2 - 22100
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Technical & Derivatives Report
April 19, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.42%
BankNifty futures open interest has increased by 3.01%
as market closed at 9105.15 levels.
The Nifty April future closed with a premium of 18.20
points against the premium of 29.05 points in last
trading session. The May series closed at a premium of
44.10 points.
The Implied Volatility of at the money options has
increased from 11.19% to 12.62%. At the same time, the
PCR-OI of Nifty decreased from 1.09 to 1.07 levels.
The total OI of the market is Rs. 3,13,866/- cr. and the
stock futures OI is Rs. 1,00,247/- cr.
Few of the liquid counters where we have seen high cost
of carry are SOUTHBANK, IDBI, JINDALSTEL, L&TFH and
BHARATFORG.
Views
Yesterday, FIIs were net sellers in both cash market
OI Gainers
segment and index futures. They sold equities to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 931 crores. While, in index they were net sellers
CHG. (%)
CHG. (%)
MUTHOOTFIN
1396500
14.09
397.65
0.45
worth Rs. 245 crores with fall in open interest, suggesting
ARVIND
7594000
11.97
388.45
-2.94
some profit booking took place in previous trading
session.
INDIGO
1090800
11.40
1081.00
-1.41
In index options, FIIs bought significantly of Rs. 1393
HINDZINC
15004800
9.38
274.25
-1.70
crores with decent amount of rise in open interest. We
IRB
20392500
9.01
249.45
3.70
observed 9100 and 9150 call options adding decent
UBL
1068200
8.30
734.00
-2.71
positions. While, we hardly saw any relevant build-up in
AMBUJACEM
12502500
8.22
241.70
-2.50
put options. However, good amount of unwinding was
ADANIENT
22312000
7.52
144.95
17.37
seen in 9000 put option. Now, highest open interest in
April series has shifted from 9300 call to 9200 call and
OI Losers
for put options, shifted to 9100 from 9000 strike.
OI
PRICE
SCRIP
OI
PRICE
Similar to previous sessions, fall in the index was not
CHG. (%)
CHG. (%)
supported by short formation as we witnessed a marginal
IBREALEST
20870000
-15.02
135.05
-8.60
drop in open interest (Nifty). It is also observed that
CAIRN
23016000
-12.53
282.45
-2.16
majority of the heavy weight counters corrected mainly
DCBBANK
6646500
-11.66
177.15
2.10
due to profit booking Thus, the above data remains
JSWENERGY
64352000
-9.49
63.80
0.08
clouded mainly for bears as there is no meaningful data
APOLLOTYRE
11721000
-8.93
227.10
-0.98
to support the correction in the market. Thus, we suggest
INFIBEAM
1142400
-8.72
1061.25
-2.09
traders to avoid fresh shorting unless we see any
DLF
38485000
-7.90
165.55
-4.50
damage on the data front.
INDIANB
1366000
-7.58
258.00
-0.65
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ADANIENT
91.31
NIFTY
1.07
1.16
UPL
25.14
BANKNIFTY
1.07
1.07
SRF
29.72
INFY
0.42
0.63
UBL
23.51
RELIANCE
0.51
0.51
AMBUJACEM
24.04
TCS
1.07
0.92
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Technical & Derivatives Report
April 19, 2017
FII Statistics for April 18, 2017
Turnover on April 18, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1878.73
2123.50
(244.78)
312239
22087.23
(1.17)
284324
21480.01
142.61
FUTURES
FUTURES
INDEX
INDEX
66236.54
64843.45
1393.09
942589
66004.93
3.28
6297086
494718.90
138.16
OPTIONS
OPTIONS
STOCK
9420.65
9260.47
160.18
1178032
78888.67
(0.10)
STOCK
FUTURES
800761
63840.93
49.85
FUTURES
STOCK
STOCK
9983.37
9870.36
113.01
98562
7176.07
5.51
624771
50518.28
52.55
OPTIONS
OPTIONS
TOTAL
87519.29
86097.78
1421.51
2531422
174156.90
1.21
TOTAL
8006942
630558.12
115.72
Nifty Spot = 9105.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9100
81.15
Buy
9200
111.55
45.80
54.20
9145.80
50.50
49.50
9149.50
Sell
9200
35.35
Sell
9100
61.05
Buy
9100
81.15
Buy
9200
111.55
68.80
131.20
9168.80
80.00
120.00
9120.00
Sell
9300
12.35
Sell
9000
31.55
Buy
9200
35.35
Buy
9100
61.05
23.00
77.00
9223.00
29.50
70.50
9070.50
Sell
9300
12.35
Sell
9000
31.55
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 19, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,461
1,477
1,498
1,514
1,535
ADANIPORTS
307
313
324
330
341
AMBUJACEM
234
237
243
247
252
ASIANPAINT
1,017
1,029
1,049
1,061
1,081
AUROPHARMA
643
654
665
675
687
AXISBANK
491
495
502
506
513
BAJAJ-AUTO
2,766
2,795
2,829
2,858
2,892
BANKBARODA
171
174
178
180
184
BPCL
713
719
728
733
742
BHARTIARTL
332
336
339
343
347
INFRATEL
319
328
340
348
360
BOSCHLTD
22,218
22,414
22,697
22,893
23,176
CIPLA
571
573
576
578
581
COALINDIA
275
277
281
283
287
DRREDDY
2,586
2,607
2,645
2,666
2,704
EICHERMOT
24,918
25,225
25,758
26,065
26,598
GAIL
386
390
397
401
408
GRASIM
1,040
1,053
1,072
1,085
1,104
HCLTECH
795
801
811
817
827
HDFCBANK
1,430
1,439
1,447
1,456
1,464
HDFC
1,465
1,472
1,482
1,489
1,499
HEROMOTOCO
3,191
3,209
3,234
3,251
3,277
HINDALCO
179
181
186
188
193
HINDUNILVR
905
909
915
919
925
IBULHSGFIN
935
948
968
982
1,002
ICICIBANK
277
280
286
289
295
IOC
419
425
432
438
445
INDUSINDBK
1,419
1,425
1,435
1,442
1,451
INFY
910
917
925
931
940
ITC
274
277
280
283
286
KOTAKBANK
868
875
884
891
900
LT
1,641
1,655
1,677
1,691
1,713
LUPIN
1,401
1,408
1,418
1,425
1,436
M&M
1,250
1,257
1,265
1,272
1,280
MARUTI
6,049
6,093
6,164
6,208
6,278
NTPC
158
160
162
163
165
ONGC
178
180
182
183
186
POWERGRID
200
201
203
204
205
RELIANCE
1,339
1,355
1,382
1,398
1,425
SBIN
283
287
292
295
300
SUNPHARMA
654
660
670
675
685
TCS
2,283
2,296
2,315
2,328
2,347
TATAMTRDVR
264
267
273
277
283
TATAMOTORS
434
439
447
452
461
TATAPOWER
83
83
84
84
85
TATASTEEL
431
441
457
467
483
TECHM
412
415
421
424
430
ULTRACEMCO
3,889
3,931
3,997
4,039
4,106
WIPRO
487
490
494
498
501
YESBANK
1,581
1,593
1,611
1,623
1,641
ZEEL
505
511
522
528
539
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Technical & Derivatives Report
April 19, 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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