Technical & Derivatives Report
July 21, 2017
Sensex (31904) / Nifty (9873)
Exhibit 1: Nifty Daily Chart
Last four day’s price action replicates a tug of war between
both the counterparties. Wednesday’s smart recovery was
followed by yet another positive opening, which was very
much on cards. However, as expected, once again we
witnessed our benchmark index (Nifty) struggling in the zone
of 9910 - 9930. As a result, a gradual correction throughout
the day led to a close below the 9900 mark.
It seems that markets have slipped into a consolidation mode
and hence, has now created a trading range of 120 - 130
points for the index. However, having said that the way
individual stocks are outperforming is certainly not
unnoticeable. Considering the placement of daily ‘RSI-
Smoothened’, we would stick to our cautious stance on the
market and would advise avoiding index specific long
positions. On the higher side, 9910 - 9930 remains to be a
stiff hurdle; whereas on the flipside, 9860 - 9810 would be
seen as intraday supports for the forthcoming session.
Key Levels
Support 1 - 9860
Resistance 1 - 9910
Support 2 - 9810
Resistance 2 - 9930
Nifty Bank Outlook - (24213)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened higher yesterday and traded in a
narrow range to end the session with gains of 0.25 percent
over its previous session's close.
As we had mentioned in our earlier reports, the ongoing
upmove in the Nifty Bank index is led by stock specific
momentum rather than a broad participation. Yesterday, we
witnessed similar stock specific momentum within the banking
space. The index could continue with this momentum but is
likely to face resistance between 24400-24500. Thus, we are
expecting limited upside in the index in near term and hence,
traders should exit from long positions in the mentioned
resistance zone. Intraday and short-term traders should
continue to focus on stock specific moves in current market
scenario. The intraday supports for the Nifty Bank index are
placed in the range of 24070 - 24000 whereas resistance is
seen in the range of 24400-24500.
Key Levels
Support 1 - 24070
Resistance 1 - 24400
Support 2 - 24000
Resistance 2 - 24500
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July 21, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.31%
BankNifty futures open interest has increased by 5.22%
as market closed at 9873.30 levels.
The Nifty July future closed with a premium of 14.73
points against the premium of 19.55 points in last
trading session. The August series closed at a premium
of 51.55 points.
The Implied Volatility of at the money options has
increased from 9.21 to 9.35. At the same time, the PCR-
OI of Nifty has decreased from 1.46 levels to 1.36.
Few of the liquid counters where we have seen high cost
of carry are SRF, ORIENTBANK, JUSTDIAL, KSCL and
RCOM.
Views
FIIs continue their buying streak in cash market segment,
they bought equities to the tune of Rs. 155 crores. While,
OI Gainers
in index futures they were net sellers of Rs. 540 crores
OI
PRICE
with marginal change in open interest, indicating blend
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
of long unwinding and short formation in previous
INFIBEAM
2267200
41.52
1256.15
3.40
trading session.
ICICIPRULI
2132000
22.48
462.45
-2.83
In index options front, they were net sellers of Rs. 704
NBCC
4680000
13.29
216.75
2.68
crores with rise in open interest. In call option, good
ENGINERSIN
14609000
10.66
165.45
4.81
amount of build-up was seen in 9900-10100 strikes. On
INDIGO
1452000
10.65
1248.85
-0.99
the flip side, we hardly saw any relevant open interest
UBL
929600
10.39
820.20
-1.81
addition in put option; however, some unwinding was
RAMCOCEM
689600
9.81
676.70
-2.65
seen in 9700, 9900 and 10000 strikes. At present,
TORNTPHARM
287600
8.45
1279.65
-1.97
maximum concentration of open interest remains intact
in 10000 call and 9800 put options.
OI Losers
Throughout the week, FIIs are forming mixed positions in
OI
PRICE
index futures. However, they continue to pour liquidity
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
through equities segment. Looking at the overall activity
JUSTDIAL
5050800
-17.70
380.90
6.65
of stronger hands in July series, it seems on net basis
REPCOHOME
319200
-14.77
816.35
-0.05
they have formed short positions in index futures along
OIL
2170828
-13.54
284.05
0.21
with long positions in index call options. At present, the
CUMMINSIND
511200
-10.97
963.35
0.53
overall data is not indicating any major upside from
ORIENTBANK
15270000
-8.91
150.10
-0.23
current levels. Hence, traders are suggested to remain
HINDZINC
11180800
-8.70
281.55
0.04
light in index and prefer stock specific approach to trade
VEDL
47456500
-7.03
269.75
-1.43
for the remaining part of July series.
CAPF
3266400
-6.63
759.60
0.28
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ENGINERSIN
29.95
NIFTY
1.36
1.07
MINDTREE
30.20
BANKNIFTY
1.29
1.04
AXISBANK
28.31
RELIANCE
0.55
0.55
JUSTDIAL
50.75
ITC
0.39
0.39
CANBK
43.68
INFY
0.47
0.37
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Technical & Derivatives Report
July 21, 2017
FII Statistics for July 20, 2017
Turnover on July 20, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1210.06
1749.82
(539.75)
284690
22027.50
0.07
170466
14282.61
8.37
FUTURES
FUTURES
INDEX
INDEX
53985.90
54690.06
(704.15)
1124427
85634.96
1.01
9608170
879868.14
100.82
OPTIONS
OPTIONS
STOCK
9473.63
9068.19
405.44
898325
62663.62
(1.99)
STOCK
FUTURES
747178
54850.16
3.72
FUTURES
STOCK
STOCK
6761.92
6750.94
10.98
114277
8314.91
3.85
555417
41731.75
2.74
OPTIONS
OPTIONS
Total
71431.52
72259.00
(827.49)
2421719
178640.99
(0.11)
TOTAL
11081231
990732.65
81.85
Nifty Spot = 9873.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9900
45.35
Buy
9900
55.45
30.10
69.90
9930.10
33.45
66.55
9866.55
Sell
10000
15.25
Sell
9800
22.00
Buy
9900
45.35
Buy
9900
55.45
41.35
158.65
9941.35
45.75
154.25
9854.25
Sell
10100
4.00
Sell
9700
9.70
Buy
10000
15.25
Buy
9800
22.00
11.25
88.75
10011.25
12.30
87.70
9787.70
Sell
10100
4.00
Sell
9700
9.70
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 21, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,672
1,692
1,725
1,745
1,778
ADANIPORTS
374
377
380
383
385
AMBUJACEM
254
258
264
268
275
ASIANPAINT
1,125
1,140
1,149
1,164
1,173
AUROPHARMA
733
742
756
765
780
AXISBANK
511
526
535
549
558
BAJAJ-AUTO
2,769
2,794
2,825
2,850
2,881
BANKBARODA
159
160
163
164
167
BPCL
459
463
467
471
475
BHARTIARTL
412
416
420
424
429
INFRATEL
398
402
409
413
419
BOSCHLTD
23,690
23,869
24,149
24,329
24,609
CIPLA
556
564
571
578
585
COALINDIA
252
254
256
258
260
DRREDDY
2,721
2,735
2,757
2,772
2,793
EICHERMOT
28,732
28,993
29,164
29,425
29,596
GAIL
374
376
379
381
384
HCLTECH
872
879
889
896
906
HDFCBANK
1,678
1,694
1,705
1,721
1,732
HDFC
1,631
1,641
1,653
1,663
1,675
HEROMOTOCO
3,673
3,702
3,745
3,773
3,816
HINDALCO
210
212
213
215
216
HINDUNILVR
1,137
1,145
1,153
1,161
1,169
IBULHSGFIN
1,132
1,145
1,156
1,169
1,180
ICICIBANK
297
299
301
303
306
IOC
369
372
375
378
381
INDUSINDBK
1,539
1,550
1,565
1,576
1,591
INFY
959
964
972
977
985
ITC
284
287
291
293
297
KOTAKBANK
950
965
991
1,006
1,032
LT
1,167
1,176
1,185
1,195
1,204
LUPIN
1,155
1,160
1,168
1,174
1,182
M&M
1,374
1,384
1,391
1,400
1,407
MARUTI
7,414
7,453
7,519
7,557
7,623
NTPC
162
164
166
168
170
ONGC
160
163
165
168
171
POWERGRID
216
218
219
220
221
RELIANCE
1,508
1,518
1,534
1,545
1,561
SBIN
288
289
292
293
296
SUNPHARMA
573
578
585
589
596
TCS
2,418
2,431
2,444
2,458
2,470
TATAMTRDVR
269
271
274
276
279
TATAMOTORS
454
457
461
464
468
TATAPOWER
82
82
83
84
84
TATASTEEL
552
554
559
562
567
TECHM
383
387
394
398
405
ULTRACEMCO
4,071
4,106
4,170
4,205
4,269
VEDANTA
265
267
271
273
276
WIPRO
265
267
271
273
277
YESBANK
1,553
1,562
1,571
1,580
1,588
ZEEL
527
533
541
547
556
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Technical & Derivatives Report
July 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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