Technical & Derivatives Report
July 20, 2017
Sensex (31955) / Nifty (9900)
Exhibit 1: Nifty Daily Chart
Tuesday’s surprising down move was followed by some sigh of
relief for the bulls as we saw Nifty opening higher and
extending these gains in the latter half to reclaim the 9900
mark. This move was mainly propelled by the banking
conglomerates that came for a rescue after the index
heavyweight counter ‘ITC’ tumbling more than
10% on
Tuesday.
Clearly, the optimism has been so strong in the market since
last couple of weeks and hence, we witnessed a smart
recovery towards the 9900 mark. Due to this, Tuesday’s
downward gap has now been filled completely. We
understand that in such kind of euphoric situation, traders are
reluctant to book out their longs. But, with a slightly broader
perspective, we continue to remain cautious on the market.
Hence, we repeatedly advise traders to keep booking profits
on existing longs (at least index specific) in the current rally.
We maintain our view that the selective individual stocks are
offering better trading opportunities and hence, traders should
concentrate more on such developments. For the coming
session, 9910 - 9930 would be the levels to watch out for;
whereas, 9851 - 9800 would be seen as immediate support
zone.
Key Levels
Support 1 - 9851
Resistance 1 - 9910
Support 2 - 9800
Resistance 2 - 9930
Nifty Bank Outlook - (24153)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened on a positive note yesterday and
traded with a positive bias throughout the session to end the
day with gains of 0.64 percent over its previous session's close.
The positive momentum in the private sector banking stock
indicates a probability of this momentum to continue.
However, the major resistance for the Nifty Bank index is seen
in the range of 24400-24450, which is the 100% extension of
the previous upmove from 22470 to 23898 (measured from
the swing low of 22996). As the index approaches the
mentioned resistance zone, traders should lighten up their
positions. Also, in the recent upmove we have seen stock
specific participation and hence, we continue to advise traders
to focus on stock specific moves. The intraday supports for the
Nifty bank index are placed around 24060 and 23950
whereas resistances are seen around 24266 and 24427.
Key Levels
Support 1 - 24060
Resistance 1 - 24266
Support 2 - 23950
Resistance 2 - 24427
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Technical & Derivatives Report
July 20, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.53%
BankNifty futures open interest has increased by 4.33%
as market closed at 9899.60 levels.
The Nifty July future closed with a premium of 19.55
points against the premium of 19.15 points in last
trading session. The August series closed at a premium
of 53.75 points.
The Implied Volatility of at the money options has
decreased from 10.20 to 9.21. At the same time, the
PCR-OI of Nifty has increased from 1.34 levels to 1.46.
Few of the liquid counters where we have seen high cost
of carry are JUSTDIAL, NHPC, RCOM, HDIL and
DISHTV.
Views
FIIs continue their buying streak in cash market segment
and index futures. They bought equities to the tune of
OI Gainers
Rs. 1047 crores. While, in index futures they were net
OI
PRICE
buyers of Rs. 206 crores with marginal change in open
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
interest, indicating some long formation took place in
JPASSOCIAT
215016000
39.48
23.15
4.75
previous trading session.
PIDILITIND
1857000
20.35
800.25
-2.04
In index options front, they were net buyers of Rs. 847
RELCAPITAL
10608000
18.08
661.40
-1.50
crores with rise in open interest. In call option, good
INDIANB
4260000
16.27
331.30
3.58
amount of build-up was seen in 9950 strikes; followed
MINDTREE
4826400
15.34
508.95
0.01
by significant unwinding in
9900 and
10000 call
MRF
53640
13.27
70482.80
0.62
options. On the flip side, 9700-9900 put options added
MUTHOOTFIN
2571000
12.91
471.80
0.50
good amount of positions; and we believe FIIs have
MRPL
12528000
11.32
125.25
6.46
bought these put strikes. At present, maximum
concentration of open interest remains intact in 10000
OI Losers
call and 9800 put options.
OI
PRICE
Since, last three trading sessions FIIs are forming mixed
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
positions in index futures. However, they continue to pour
CHOLAFIN
508500
-18.71
1149.00
2.31
liquidity through equities segment. Looking at the overall
HEXAWARE
2700000
-10.09
248.10
1.31
activity of stronger hands in July series, it seems they
ITC
57403200
-9.62
291.65
2.14
have formed short positions in index futures along with
ACC
1603600
-8.97
1727.80
-1.40
long positions in index call options. At present, the
BAJAJFINSV
410750
-7.75
4569.40
2.97
overall data is not indicating any major upside from
JUBLFOOD
3123500
-6.55
1294.90
-2.12
current levels. Hence, traders are suggested to remain
OIL
2510728
-5.86
283.45
2.13
light in index and prefer stock specific approach to trade
HINDUNILVR
10314000
-5.68
1155.30
-0.63
for the remaining part of July series.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
IDEA
56.56
NIFTY
1.46
1.26
JISLJALEQS
46.06
BANKNIFTY
1.33
1.05
MRPL
48.78
RELIANCE
0.60
0.55
CUMMINSIND
27.36
ITC
0.38
0.38
DABUR
17.46
INFY
0.52
0.55
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Technical & Derivatives Report
July 20, 2017
FII Statistics for July 19, 2017
Turnover on July 19, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1530.78
1324.35
206.43
284484
22007.37
0.38
160821
13179.40
-32.26
FUTURES
FUTURES
INDEX
INDEX
41954.53
41107.70
846.83
1113171
85102.40
1.54
5034253
438130.74
-2.93
OPTIONS
OPTIONS
STOCK
8782.08
8832.14
(50.06)
916610
64052.21
(1.27)
STOCK
FUTURES
721423
52885.00
-7.35
FUTURES
STOCK
STOCK
6435.44
6544.27
(108.83)
110038
8019.24
8.30
544041
40617.56
-15.39
OPTIONS
OPTIONS
Total
58702.82
57808.45
894.37
2424303
179181.23
0.60
TOTAL
6460538
544812.69
-5.40
Nifty Spot = 9899.60
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9900
64.20
Buy
9900
44.80
41.10
58.90
9941.10
25.45
74.55
9874.55
Sell
10000
23.10
Sell
9800
19.35
Buy
9900
64.20
Buy
9900
44.80
57.80
142.20
9957.80
35.45
164.55
9864.55
Sell
10100
6.40
Sell
9700
9.35
Buy
10000
23.10
Buy
9800
19.35
16.70
83.30
10016.70
10.00
90.00
9790.00
Sell
10100
6.40
Sell
9700
9.35
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
July 20, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,695
1,715
1,745
1,765
1,795
ADANIPORTS
374
378
381
384
387
AMBUJACEM
259
262
265
268
271
ASIANPAINT
1,141
1,149
1,153
1,161
1,165
AUROPHARMA
741
753
774
787
807
AXISBANK
514
517
519
523
525
BAJAJ-AUTO
2,788
2,806
2,820
2,838
2,853
BANKBARODA
162
163
164
165
166
BPCL
462
466
469
473
477
BHARTIARTL
402
411
417
427
433
INFRATEL
406
410
417
421
428
BOSCHLTD
23,923
24,135
24,315
24,526
24,707
CIPLA
557
562
566
572
575
COALINDIA
245
250
253
258
262
DRREDDY
2,695
2,735
2,760
2,799
2,824
EICHERMOT
28,478
28,847
29,068
29,437
29,658
GAIL
375
377
381
383
386
HCLTECH
879
887
893
902
908
HDFCBANK
1,676
1,684
1,690
1,698
1,704
HDFC
1,633
1,644
1,653
1,663
1,672
HEROMOTOCO
3,737
3,754
3,774
3,791
3,812
HINDALCO
205
209
212
216
218
HINDUNILVR
1,102
1,128
1,162
1,188
1,221
IBULHSGFIN
1,126
1,138
1,145
1,157
1,163
ICICIBANK
299
301
303
304
306
IOC
369
372
375
378
381
INDUSINDBK
1,562
1,568
1,576
1,583
1,590
INFY
960
970
979
989
999
ITC
283
287
290
294
297
KOTAKBANK
967
981
989
1,003
1,011
LT
1,163
1,172
1,179
1,189
1,196
LUPIN
1,158
1,165
1,171
1,178
1,185
M&M
1,368
1,375
1,384
1,391
1,400
MARUTI
7,511
7,536
7,560
7,585
7,609
NTPC
165
166
168
170
172
ONGC
158
161
162
164
166
POWERGRID
215
217
218
220
222
RELIANCE
1,502
1,518
1,528
1,543
1,553
SBIN
290
292
293
294
296
SUNPHARMA
580
585
587
592
595
TCS
2,397
2,423
2,442
2,468
2,486
TATAMTRDVR
270
272
274
276
278
TATAMOTORS
449
455
459
465
469
TATAPOWER
81
82
83
84
84
TATASTEEL
560
566
569
575
578
TECHM
388
392
395
400
402
ULTRACEMCO
4,107
4,157
4,237
4,287
4,367
VEDANTA
267
270
272
275
277
WIPRO
265
268
270
273
275
YESBANK
1,541
1,555
1,566
1,581
1,591
ZEEL
520
533
541
554
563
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Technical & Derivatives Report
July 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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