Technical & Derivatives Report
March 21, 2017
Sensex (29519) / Nifty (9127)
Exhibit 1: Nifty Daily Chart
The new trading week started on a flat note citing mixed global
cues. However, it was quite surprising to see that our markets
extended Friday’s corrective move that we saw after hitting a new
high of 9218.40 after US dollar index slipping towards the 100
mark. Due to decent stock specific profit booking, the Nifty
eventually ended the session with 0.36% loss to its previous close.
At this juncture, we are just seeing traders looking to take some
money off the table after enjoying this relentless up move in the
recent past. There is no sign of trend reversal yet and hence, can
be construed as a breather or a pull back before starting the next
leg of the rally. It’s difficult to make a time-wise prediction; but
price-wise, we continue to expect the Nifty 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 in last two days)
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 - (21110)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index continued its consolidation phase and
traded in a narrow range to end the session with a marginal loss
of 0.31 percent.
As also mentioned in our earlier reports, the broader trend of the
Nifty Bank index continues to be positive and thus, we expect the
markets to resume the broader degree uptrend once this
consolidation phase is over. Meanwhile, traders can approach
stock specific opportunities in the sector and trade with positive
bias. 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
resistances 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 21, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.57%
BankNifty futures open interest has increased by 0.71%
as market closed at 9126.85 levels.
The Nifty March future closed with a premium of 27.20
points against the premium of 11.70 points in last
trading session. The April series closed at a premium of
57.45 points.
The Implied Volatility of at the money options has
increased from 9.51% to 10.61%. At the same time, the
PCR-OI of Nifty has decreased from 1.14 to 1.10 levels.
The total OI of the market is Rs. 3,31,831/- cr. and the
stock futures OI is Rs. 97,263/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, SYNDIBANK, EXIDEIND,
SOUTHBANK and IDFCBANK.
Views
Yesterday, FIIs activity in cash market segment remained
OI Gainers
muted. While, in index futures they were net buyers worth
OI
PRICE
SCRIP
OI
PRICE
Rs. 777 crores with marginal change in open interest,
CHG. (%)
CHG. (%)
suggesting that fresh long formation and some short
PCJEWELLER
1144500
23.86
440.70
5.98
covering took place in previous trading session.
AJANTPHARM
617200
17.52
1822.20
1.61
In index options, FIIs bought of Rs. 89 crores with
GLENMARK
3848600
12.39
882.35
-0.51
marginal change in open interest. In both call and put
ORIENTBANK
17418000
11.91
133.85
4.57
options, except for some buildup in 9100 call option, we
HCLTECH
8228500
9.98
865.45
-0.21
hardly witnessed any strike adding meaningful OI.
SIEMENS
989000
9.65
1251.65
-0.93
However, some unwinding was seen in 8800 and 9200
ICICIBANK
68717500
8.80
276.25
-1.93
put option. Highest open interest in March series is
PAGEIND
33900
8.31
14688.20
-0.57
placed at 9200 call and 8800 put options.
Yesterday, we again witnessed some consolidation after
OI Losers
a decent rally. But surprisingly, despite market under
OI
PRICE
SCRIP
OI
PRICE
going some profit booking, FIIs continue buying in both
CHG. (%)
CHG. (%)
cash market segment and index futures. While, majority
RELCAPITAL
11457000
-11.47
607.90
0.80
of the longs formed by stronger participants (FIIs) in last
TORNTPHARM
228000
-10.94
1443.25
-0.71
few weeks are still in system. At present, the immediate
MRF
56865
-7.85
56168.50
0.91
support for Nifty is around 9050-9100, while a wall of
JETAIRWAYS
5872000
-7.59
474.55
-0.94
resistance is at 9200 mark. However, looking at the
SINTEX
49974750
-4.34
99.75
-1.19
above data, we believe market has limited downside and
RECLTD
29322000
-4.10
168.65
0.39
thus, traders are suggested use decline to form fresh
TATASTEEL
21888000
-3.94
498.65
-0.84
longs.
AMARAJABAT
1963800
-3.85
876.35
-0.13
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
IDEA
86.92
NIFTY
1.10
1.08
PCJEWELLER
51.83
BANKNIFTY
0.83
0.78
ORIENTBANK
44.54
RELIANCE
0.67
0.49
DIVISLAB
43.52
IDEA
0.36
0.47
AXISBANK
32.80
SBIN
0.52
0.42
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Technical & Derivatives Report
March 21, 2017
FII Statistics for March 20, 2017
Turnover on March 20, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1496.54
719.85
776.69
389422
27216.25
(0.08)
115241
8458.19
-36.39
FUTURES
FUTURES
INDEX
INDEX
18044.08
17954.64
89.44
1049747
73186.58
(0.43)
2407262
183579.21
-12.46
OPTIONS
OPTIONS
STOCK
6325.98
7606.35
(1280.37)
1077547
73725.06
0.44
STOCK
FUTURES
556747
40382.45
-16.58
FUTURES
STOCK
STOCK
3995.95
3964.66
31.30
116018
8187.18
2.83
374071
27677.71
-10.34
OPTIONS
OPTIONS
TOTAL
29862.55
30245.50
(382.94)
2632734
182315.06
0.12
TOTAL
3453321
260097.56
-13.96
Nifty Spot = 9126.85
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9100
93.50
Buy
9200
86.55
52.25
47.75
9152.25
44.50
55.50
9155.50
Sell
9200
41.25
Sell
9100
42.05
Buy
9100
93.50
Buy
9200
86.55
79.60
120.40
9179.60
67.45
132.55
9132.55
Sell
9300
13.90
Sell
9000
19.10
Buy
9200
41.25
Buy
9100
42.05
27.35
72.65
9227.35
22.95
77.05
9077.05
Sell
9300
13.90
Sell
9000
19.10
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 21, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,399
1,404
1,411
1,416
1,423
ADANIPORTS
322
324
327
329
332
AMBUJACEM
231
233
234
235
237
ASIANPAINT
1,061
1,070
1,077
1,086
1,092
AUROPHARMA
676
691
699
713
721
AXISBANK
491
497
507
514
524
BAJAJ-AUTO
2,893
2,908
2,920
2,936
2,948
BANKBARODA
161
163
165
168
170
BHEL
166
169
170
172
174
BPCL
630
637
642
649
655
BHARTIARTL
334
342
347
355
360
INFRATEL
298
303
309
314
320
BOSCH
22,429
22,552
22,738
22,861
23,048
CIPLA
589
593
597
601
605
COALINDIA
286
289
291
293
295
DRREDDY
2,721
2,728
2,737
2,744
2,753
EICHERMOT
24,375
24,737
24,964
25,327
25,554
GAIL
368
371
374
377
380
GRASIM
1,019
1,041
1,055
1,077
1,092
HCLTECH
850
857
868
875
886
HDFCBANK
1,420
1,428
1,434
1,442
1,448
HDFC
1,439
1,448
1,457
1,466
1,475
HEROMOTOCO
3,302
3,321
3,346
3,365
3,389
HINDALCO
190
193
195
198
200
HINDUNILVR
884
891
903
910
922
ICICIBANK
271
273
276
279
282
IDEA
73
86
105
117
136
INDUSINDBK
1,364
1,372
1,381
1,389
1,399
INFY
1,010
1,016
1,021
1,027
1,033
ITC
275
278
281
285
288
KOTAKBANK
841
848
855
862
869
LT
1,523
1,530
1,543
1,550
1,563
LUPIN
1,452
1,459
1,464
1,470
1,475
M&M
1,284
1,292
1,304
1,312
1,324
MARUTI
6,108
6,133
6,177
6,202
6,246
NTPC
158
160
161
162
164
ONGC
189
190
191
192
193
POWERGRID
192
193
194
194
195
RELIANCE
1,261
1,271
1,288
1,299
1,316
SBIN
271
272
273
275
276
SUNPHARMA
701
704
707
710
714
TCS
2,431
2,455
2,491
2,515
2,551
TATAMTRDVR
283
286
288
291
292
TATAMOTORS
468
472
475
479
482
TATAPOWER
86
86
87
88
89
TATASTEEL
486
492
497
502
508
TECHM
473
478
484
489
495
ULTRACEMCO
3,959
3,979
4,011
4,031
4,063
WIPRO
490
494
499
503
508
YESBANK
1,499
1,507
1,516
1,524
1,533
ZEEL
512
517
521
525
530
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Technical & Derivatives Report
March 21, 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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