Technical & Derivatives Report
March 20, 2017
Sensex (29649) / Nifty (9160)
Exhibit 1: Nifty Daily Chart
Once again, our markets opened higher which we believe was
mainly on the back of US dollar index extending its losses and
inching closer to the 100 mark. However, this opening lead was
very short lived as we witnessed consistent selling pressure in the
market and as a result; the Nifty kept falling gradually to fill the
entire gap area created in the morning.
Now, due to Friday’s gap up opening, the Nifty reached our
initial target of 9200 and thereafter, we witnessed a decent profit
taking in the market, which was evident also after such a massive
rally seen in the recent past. Despite this, the weekly chart
structure still looks extremely sturdy and hence, directionally, we
continue to remain upbeat on the market. We reiterate that the
Nifty is likely to head towards 9400 - 9600 (price extension of
previous up move from recent low of 7893.80) over the next few
weeks. Having said that, in between some consolidation or a
profit booking (like we saw on Friday) by momentum traders
cannot be ruled out. On the lower side, 9100 - 9050 levels
would provide a strong support in the forthcoming week. Traders
are advised to keep using such dips to create fresh longs in the
market.
Key Levels
Support 1 - 9100
Resistance 1 - 9200
Support 2 - 9050
Resistance 2 - 9245
Nifty Bank Outlook - (21175)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index traded in a narrow range on Friday and
ended the session with a marginal loss of 0.35 percent. On the
weekly charts, the index has formed a small 'Doji' candle post a
gap up opening at the start of last week.
The Nifty Bank index has consolidated in a range in last couple of
trading sessions. The consolidation just seems to be a breather
within an uptrend. The near-term support for the Nifty Bank index
is placed around 21060 - 20877, which is the recent gap area
seen during the last week's opening. Any minor corrections upto
the mentioned support zone should be used as buying
opportunities as the broader trend continue to be positive.
Positionally, we expect the index to rally upto 21882 and 22932,
which are the targets as per the reciprocal retracements of the
previous corrective move. The near-term supports for the index is
placed in the range of 21060 - 20877 whereas resistance are
seen around 21377 and 21882.
Key Levels
Support 1 - 21060
Resistance 1 - 21377
Support 2 - 20877
Resistance 2 - 21882
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Technical & Derivatives Report
March 20, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 2.71%
BankNifty futures open interest has decreased by 1.88%
as market closed at 9160.05 levels.
The Nifty March future closed with a premium of 11.70
points against the premium of 22.45 points in last
trading session. The April series closed at a premium of
40.00 points.
The Implied Volatility of at the money options has
decreased from 9.87% to 9.51%. At the same time, the
PCR-OI of Nifty has increased from 1.09 to 1.14 levels.
The total OI of the market is Rs. 3,24,064/- cr. and the
stock futures OI is Rs. 95,874/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, GMRINFRA, JINDALSTEL,
BATAINDIA and ALBK.
Views
On Friday, FIIs continued pouring liquidity in cash
OI Gainers
market segment; they bought equities to the tune of Rs.
OI
PRICE
1532 crores. While, in index futures they were sellers
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
worth Rs. 137 crores with marginal change in open
JETAIRWAYS
6354000
24.25
479.05
2.84
interest, suggesting minor profit booking in previous
COALINDIA
21499900
17.83
290.30
-1.02
trading session.
MRF
61710
16.94
55663.95
-1.57
In index options, FIIs bought of Rs. 834 crores with rise in
TORNTPHARM
256000
15.73
1453.60
5.70
open interest. In call option, except for some buildup in
APOLLOTYRE
15873000
11.16
199.70
1.71
9200 strike, we hardly witnessed any strike adding
CAIRN
29921500
8.54
295.75
0.08
meaningful OI. However, decent amount of unwinding
STAR
1936500
7.85
1135.00
-1.14
was seen in 9500 call option. On the other hand in put
GLENMARK
3424400
6.81
886.85
-1.46
options,
8900-9200 strikes added decent buildup.
Highest open interest in March series is placed at 9200
OI Losers
call and 8800 put options.
OI
PRICE
Last week, our benchmark index surpassed an important
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
psychological resistance of
9000 mark. Nifty rallied
ADANIPORTS
10770000
-13.29
325.55
0.00
2.38% with good amount of rise in open interest. FIIs
TORNTPOWER
4503000
-10.55
210.35
4.55
continued their buying streak in cash market segment.
M&MFIN
15477500
-10.07
312.25
5.87
While, in index futures mixed activity was seen; but,
PCJEWELLER
924000
-9.41
415.85
-0.70
majority of the positions formed were on long side. They
GODREJIND
1549500
-7.19
504.50
-2.14
also covered shorts formed in call options during start of
YESBANK
8182300
-6.94
1512.50
-1.41
March series and formed fresh longs in 9200 call option.
BHARATFIN
16159000
-6.85
832.40
3.08
Thus, looking at the above data, we expect market to
ARVIND
5982000
-6.47
405.75
-0.65
continue its momentum in near term.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ITC
30.76
NIFTY
1.14
1.06
TORNTPHARM
36.86
BANKNIFTY
0.93
0.77
TATAELXSI
34.03
RELIANCE
0.72
0.46
M&MFIN
47.16
ICICIBANK
0.46
0.44
BHARTIARTL
33.33
SBIN
0.51
0.56
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Technical & Derivatives Report
March 20, 2017
FII Statistics for March 17, 2017
Turnover on March 17, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1994.35
2131.45
(137.10)
389748
27290.77
(0.43)
180072
13297.42
6.48
FUTURES
FUTURES
INDEX
INDEX
24958.98
24124.72
834.27
1054237
73711.23
2.24
2792366
209714.60
-62.68
OPTIONS
OPTIONS
STOCK
8292.07
8716.67
(424.60)
1072847
73563.20
0.76
STOCK
FUTURES
652400
48406.49
-0.49
FUTURES
STOCK
STOCK
5062.65
5054.84
7.81
112826
8028.03
7.37
408904
30868.96
0.16
OPTIONS
OPTIONS
TOTAL
40308.04
40027.67
280.38
2629658
182593.24
1.44
TOTAL
4033742
302287.47
-53.77
Nifty Spot = 9160.05
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9100
111.50
Buy
9200
80.55
58.55
41.45
9158.55
38.70
61.30
9161.30
Sell
9200
52.95
Sell
9100
41.85
Buy
9100
111.50
Buy
9200
80.55
91.35
108.65
9191.35
59.35
140.65
9140.65
Sell
9300
20.15
Sell
9000
21.20
Buy
9200
52.95
Buy
9100
41.85
32.80
67.20
9232.80
20.65
79.35
9079.35
Sell
9300
20.15
Sell
9000
21.20
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 20, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,390
1,401
1,414
1,425
1,439
ADANIPORTS
318
322
325
329
333
AMBUJACEM
230
232
234
236
239
ASIANPAINT
1,065
1,072
1,082
1,089
1,099
AUROPHARMA
670
679
686
695
703
AXISBANK
509
513
516
520
523
BAJAJ-AUTO
2,859
2,886
2,917
2,944
2,976
BANKBARODA
161
163
166
168
171
BHEL
163
166
169
172
175
BPCL
631
637
643
649
655
BHARTIARTL
332
340
351
359
370
INFRATEL
303
306
309
313
316
BOSCH
22,453
22,626
22,813
22,986
23,173
CIPLA
588
593
599
603
609
COALINDIA
284
287
291
293
297
DRREDDY
2,709
2,723
2,738
2,752
2,767
EICHERMOT
24,096
24,394
24,591
24,889
25,086
GAIL
369
372
376
379
383
GRASIM
1,018
1,029
1,042
1,054
1,067
HCLTECH
845
856
863
874
881
HDFCBANK
1,407
1,417
1,422
1,431
1,437
HDFC
1,430
1,440
1,449
1,460
1,469
HEROMOTOCO
3,324
3,335
3,354
3,366
3,385
HINDALCO
191
194
197
199
203
HINDUNILVR
894
898
905
909
916
ICICIBANK
275
278
282
285
289
IDEA
103
105
110
112
117
INDUSINDBK
1,355
1,369
1,383
1,397
1,410
INFY
1,011
1,025
1,034
1,049
1,058
ITC
270
276
282
288
294
KOTAKBANK
837
842
848
854
860
LT
1,528
1,540
1,557
1,569
1,585
LUPIN
1,438
1,447
1,461
1,471
1,485
M&M
1,280
1,292
1,312
1,324
1,344
MARUTI
6,113
6,153
6,190
6,230
6,267
NTPC
157
159
160
162
163
ONGC
188
189
191
192
194
POWERGRID
191
192
195
196
199
RELIANCE
1,284
1,293
1,306
1,314
1,328
SBIN
270
272
276
278
282
SUNPHARMA
694
701
709
715
723
TCS
2,491
2,508
2,527
2,545
2,563
TATAMTRDVR
279
283
289
292
298
TATAMOTORS
465
471
477
483
490
TATAPOWER
85
86
86
87
88
TATASTEEL
492
497
503
508
514
TECHM
462
473
480
492
499
ULTRACEMCO
3,989
4,014
4,044
4,069
4,099
WIPRO
495
500
503
508
511
YESBANK
1,481
1,494
1,517
1,531
1,554
ZEEL
509
514
521
526
533
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Technical & Derivatives Report
March 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]
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