Technical & Derivatives Report
February 20, 2017
Sensex (28469) / Nifty (8822)
Exhibit 1: Nifty Daily Chart
We had taken some cues (about the ongoing consolidation
phase) from previous week’s price action as the index struggled
around the 8800 mark and the similar price action was being
witnessed for the major part of the concluded week as well.
However, on the other hand, despite a decent dip on Wednesday,
8700 proved its significance as the Nifty managed to recover
immediately after posting a weekly low of 8712.85.
Now, finally on Friday, the Nifty confirmed a daily close beyond
the
8820 which has been acting as a stiff hurdle of late.
Although, it’s mainly on the back of price development seen in
the heavyweight counter ‘HDFC Bank’ after some positive news
flow, we would respect the price action and confirm this as a
breakout from the ‘Downward Sloping Trend Line’ (despite some
intraday correction from morning high) on the daily chart.
Going forward, undoubtedly, we would continue to remain
upbeat on the market and expect the index to gradually move
towards the all-time high. Before this, 8896 - 8969 would be
seen as immediate levels for the forthcoming week. On the flip
side, 8783 - 8712 is now likely to provide decent support in the
near term.
Key Levels
Support 1 - 8783
Resistance 1 - 8896
Support 2 - 8712
Resistance 2 - 8969
Nifty Bank Outlook - (20551)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index consolidated in a narrow
range till Thursday. While there were stock specific corrective
moves, we maintained our positive bias on the index as there
were no reversal signs by the index or its heavyweight
constituents. The Nifty Bank index opened with a gap up on
Friday led by the index heavyweight HDFC Bank. Although it lost
some of the gains during post opening, the index has managed
to resume the uptrend and has closed with gains of 1.67 percent
over the previous week's close. Thus, we continue to maintain our
positive stance on the index and thus advise traders to trade with
positive bias. The near term supports for the Nifty Bank index are
placed around 20310 and 20100 whereas resistances are seen
around 20796 and 21042.
Key Levels
Support 1 - 20310
Resistance 1 - 20796
Support 2 - 20100
Resistance 2 - 21042
www.angelbroking.com
Technical & Derivatives Report
February 20, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.66%
BankNifty futures open interest has decreased by 8.79%
as market closed at 8821.70 levels.
The Nifty February future closed with a premium of 5.30
points against the premium of 9.60 points in last trading
session. The March series closed at a premium of 35.85
points.
The Implied Volatility of at the money options has
decreased from 11.50% to 11.03%. At the same time,
the PCR-OI of Nifty has increased from 1.08 to 1.11
levels.
The total OI of the market is Rs. 3,25,137/- cr. and the
stock futures OI is Rs. 93,192/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, KPIT, IBREALEST, SOUTHBANK
and NHPC.
Views
OI Gainers
On Friday, FIIs bought significantly in cash market
OI
PRICE
SCRIP
OI
PRICE
segment. They bought equities worth Rs. 8043 crores,
CHG. (%)
CHG. (%)
which was mainly due to increased FIIs limit on
JPASSOCIAT
191012000
20.87
15.00
9.89
HDFCBANK. While in index futures, they were sellers to
GODREJIND
1266000
16.74
485.55
-4.18
the tune of Rs. 719 crores with rise in open interest,
AMARAJABAT
1535400
13.73
855.95
0.43
indicating fresh short formation in last trading session.
DRREDDY
2398800
12.51
2919.70
-0.41
In index option segment, FIIs were buyer worth Rs. 1541
WOCKPHARMA
4022400
11.83
701.90
2.26
crores with rise in open interest. In call options, we hardly
HCLTECH
7776300
9.95
839.30
-0.77
witnessed any strike adding relevant build-up. However,
KOTAKBANK
11436000
9.87
795.75
0.20
decent amount of unwinding was visible in 8700 and
ICICIBANK
66525000
9.25
283.20
1.41
8800 call options. On the other hand, in put options,
good amount of build-up was seen in 8800 strike,
OI Losers
followed by unwinding in 8500 put option. Highest OI in
OI
PRICE
SCRIP
OI
PRICE
current series remains intact at 9000 call and 8500 put
CHG. (%)
CHG. (%)
option.
SRF
875500
-6.86
1594.40
3.34
Last week, Nifty rebounded from the lows of 8712 and
HDIL
30632000
-5.39
65.25
0.38
surpassed the resistance zone of 8820-8830. FIIs too
SUNTV
7780000
-4.98
704.15
-2.38
actively participated in this up move by adding good
APOLLOHOSP
682000
-4.96
1273.20
1.44
amount of longs in Index Futures. While, long positions
IGL
2038300
-4.63
1037.90
-1.77
formed since beginning of February series are still intact.
MCLEODRUSS
3273000
-4.30
171.75
1.57
We believe market may continue it’s up move in near
BATAINDIA
3083300
-4.20
501.75
0.95
term. Thus, traders are suggested to trade with a positive
CESC
3741100
-3.74
852.40
0.60
bias unless we see any meaningful follow up selling.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HDFCBANK
22.23
NIFTY
1.11
1.00
CASTROLIND
29.85
BANKNIFTY
1.06
0.88
DHFL
46.95
SBIN
0.45
0.29
RELCAPITAL
47.88
TATAMOTORS
0.43
0.45
SUNPHARMA
41.43
ICICIBANK
0.59
0.35
www.angelbroking.com
Technical & Derivatives Report
February 20, 2017
FII Statistics for February 17, 2017
Turnover on February 17, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
4089.86
4808.39
(718.53)
380722
25935.18
2.35
358332
26777.40
81.35
FUTURES
FUTURES
INDEX
INDEX
54520.14
52978.81
1541.33
1262175
86597.31
2.21
5433059
397871.70
-35.45
OPTIONS
OPTIONS
STOCK
12684.82
18022.03
(5337.21)
1102671
73089.72
1.87
STOCK
FUTURES
979502
68800.28
47.09
FUTURES
STOCK
STOCK
7281.66
7247.06
34.60
124212
8679.19
5.05
529748
38377.94
15.79
OPTIONS
OPTIONS
TOTAL
78576.47
83056.29
(4479.82)
2869780
194301.40
2.21
TOTAL
7300641
531827.32
-25.21
Nifty Spot = 8821.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8700
136.75
Buy
8900
90.20
74.45
25.55
8774.45
53.60
46.40
8846.40
Sell
8800
62.30
Sell
8800
36.60
Buy
8700
136.75
Buy
8900
90.20
117.30
82.70
8817.30
76.20
123.80
8823.80
Sell
8900
19.45
Sell
8700
14.00
Buy
8800
62.30
Buy
8800
36.60
42.85
57.15
8842.85
22.60
77.40
8777.40
Sell
8900
19.45
Sell
8700
14.00
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
February 20, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,442
1,454
1,464
1,476
1,487
ADANIPORTS
292
295
299
301
305
AMBUJACEM
232
235
237
241
243
ASIANPAINT
945
953
963
971
981
AUROPHARMA
650
658
665
672
680
AXISBANK
477
483
494
500
510
BAJAJ-AUTO
2,733
2,756
2,774
2,797
2,815
BANKBARODA
162
164
166
168
170
BHEL
148
150
152
155
157
BPCL
657
668
676
687
694
BHARTIARTL
358
364
368
374
378
INFRATEL
297
302
312
317
327
BOSCH
21,603
21,761
21,989
22,148
22,376
CIPLA
574
584
590
600
606
COALINDIA
307
312
316
321
325
DRREDDY
2,868
2,891
2,922
2,944
2,976
EICHERMOT
24,307
24,674
25,087
25,453
25,867
GAIL
494
502
507
516
521
GRASIM
1,017
1,029
1,037
1,049
1,056
HCLTECH
821
830
840
849
859
HDFCBANK
1,304
1,340
1,397
1,434
1,491
HDFC
1,379
1,391
1,412
1,423
1,444
HEROMOTOCO
3,039
3,063
3,097
3,121
3,154
HINDALCO
179
181
185
188
192
HINDUNILVR
832
837
842
847
853
ICICIBANK
271
277
282
287
292
IDEA
99
102
105
109
112
INDUSINDBK
1,305
1,322
1,344
1,360
1,382
INFY
981
991
1,002
1,012
1,023
ITC
262
265
267
270
272
KOTAKBANK
778
787
799
808
820
LT
1,456
1,467
1,476
1,487
1,496
LUPIN
1,436
1,448
1,456
1,467
1,476
M&M
1,302
1,309
1,320
1,327
1,338
MARUTI
5,899
5,945
6,000
6,045
6,101
NTPC
168
169
170
171
172
ONGC
193
194
194
195
196
POWERGRID
198
200
202
204
205
RELIANCE
1,051
1,063
1,071
1,083
1,090
SBIN
264
267
270
273
276
SUNPHARMA
639
657
668
686
696
TCS
2,355
2,381
2,429
2,455
2,502
TATAMTRDVR
271
274
277
281
284
TATAMOTORS
436
445
451
459
465
TATAPOWER
82
83
84
85
86
TATASTEEL
462
465
470
473
478
TECHM
493
498
502
507
511
ULTRACEMCO
3,648
3,683
3,715
3,750
3,782
WIPRO
468
472
478
481
487
YESBANK
1,422
1,431
1,445
1,455
1,468
ZEEL
513
517
521
525
529
www.angelbroking.com
Technical & Derivatives Report
February 20, 2017
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking Private Limited is a
registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number
INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing
/dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed public
offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
www.angelbroking.com