Technical & Derivatives Report
August 21, 2017
Sensex (31525) / Nifty (9837)
Exhibit 1: Nifty Daily Chart
On Friday, Nifty witnessed a gap down opening citing selling
pressure in the banking sector along with the heavyweight
‘Infy’. Subsequently, the index traded with a bearish bias for
the most part of the day before witnessing some bounce back
in the last hour to close with a loss of 0.67%.
Technically speaking, the chart structure on medium time
frame (weekly) has been distorted due to previous week’s
corrective move. And the way ‘RSI-Smoothened’ has shaped
up, we are of the opinion that the market would face strong
resistance at higher levels and it would be a challenging task
to surpass the 10000 mark. On the downside, the Nifty is
likely to slide towards the daily ’89 EMA’, placed in the vicinity
of 9670 - 9620. This view would probably be supported by
the banking index as we would expect underperformance
from this space to continue in the forthcoming week as well.
To summarize, the Nifty is expected to remain within a range
of 9950 - 9620 for a while. Traders are advised not to trade
aggressively in such kind of market. It would be a prudent
approach to focus on individual stocks with a proper exit
strategy.
Key Levels
Support 1 - 9773
Resistance 1 - 9880
Support 2 - 9710
Resistance 2 - 9910
Nifty Bank Outlook - (24074)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index resisted around the
50% retracement resistance of the recent corrective move and
then resumed the correction in last two trading sessions. The
'RSI' oscillator on the daily charts too is indicating a negative
momentum. Thus, unless we see any significant buying in the
banking heavyweights, the index is likely to see selling
pressure on pullback moves. The short-term resistance for the
index is placed 24360 and thus traders should refrain creating
longs at current levels. The immediate support for the index is
placed in the range of 23800 - 23850.
Key Levels
Support 1 - 23925
Resistance 1 - 24275
Support 2 - 23800
Resistance 2 - 24360
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Technical & Derivatives Report
August 21, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.57%
BankNifty futures open interest has increased by 6.87%
as market closed at 9837.40 levels.
The Nifty August future closed with a premium of 17.00
points against the premium of 5.30 points in last trading
session. The September series closed at a premium of
44.30 points.
The Implied Volatility of at the money options has
increased from 11.24 to 11.87. At the same time, the
PCR-OI of Nifty has decreased from 1.21 levels to 1.14.
Few of the liquid counters where we have seen high cost
of carry are INFIBEAM, JSWSTEEL, RCOM, TATAGLOBAL
and SAIL.
Views
FIIs were net sellers in cash market segment and index
futures. They sold equities to the tune of Rs.2182 crores.
OI Gainers
While, in index futures they were net sellers of worth
OI
PRICE
Rs. 385 crores with good amount of rise in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating fresh short formation on Friday’s trading
INFY
41559000
44.89
927.15
-9.21
session.
ZEEL
7317700
12.56
513.70
-2.50
In index options segment, they were net sellers of
MRPL
9265500
9.35
125.25
2.96
Rs. 1442 crores with rise in open interest. In call option,
PCJEWELLER
5343000
8.66
373.70
4.72
9800-10000 strikes were active and they also added
APOLLOHOSP
1586000
8.07
1073.05
-2.78
decent positions. On the flip side, we hardly saw any
ACC
1316800
7.93
1798.35
0.90
strikes of put options adding relevant positions; however,
JUSTDIAL
5253600
7.86
365.05
0.63
decent unwinding was seen in 9500, 9800 and 9900 put
BERGEPAINT
1111000
6.09
241.75
-0.47
options. Maximum concentration of open interest is now
placed at 10000 call and 9800 put option.
OI Losers
Last week, the benchmark index rallied 1.16% with
OI
PRICE
decent rise in open interest, hinting some fresh long
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
formation. However, FIIs refrained from participating in
INDIGO
1426200
-11.04
1274.60
-0.48
recent up move as they preferred to add short positions
ITC
46188000
-8.27
282.15
0.80
in the index futures. As a result, their index futures Long
CHENNPETRO
2070000
-8.18
399.40
1.56
Short Ratio further declined to 52% from 58% seen last
VOLTAS
3074000
-7.02
539.55
-0.89
week. INDIAVIX has also surged above the resistance
BATAINDIA
2871000
-6.52
680.10
0.44
level of 12.70-12.80 seen in last five series and we
RAYMOND
1969600
-5.53
776.60
4.07
expect it to increase going ahead. Thus, we believe Nifty
INDIANB
3352000
-5.15
304.95
0.13
has limited upside and hence, would advise short term
GODFRYPHLP
692000
-5.08
1088.60
1.08
traders to buy 9800 puts of current series.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
INFY
55.12
NIFTY
1.14
1.07
INFRATEL
33.54
BANKNIFTY
0.92
0.72
DISHTV
51.36
INFY
0.44
0.73
HINDUNILVR
23.37
SBIN
0.38
0.39
ULTRACEMCO
22.98
RELIANCE
0.48
0.43
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Technical & Derivatives Report
August 21, 2017
FII Statistics for August 18, 2017
Turnover on August 18, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1985.70
2371.03
(385.32)
341403
25760.64
3.37
226488
18490.47
-1.25
FUTURES
FUTURES
INDEX
INDEX
54304.65
55746.66
(1442.01)
1182230
89600.83
0.39
4118434
344766.53
-66.79
OPTIONS
OPTIONS
STOCK
8913.42
9577.79
(664.37)
838290
57377.07
0.87
STOCK
FUTURES
793964
53228.15
5.07
FUTURES
STOCK
STOCK
8386.72
8499.18
(112.46)
154879
10859.92
8.22
664166
44572.97
12.36
OPTIONS
OPTIONS
Total
73590.49
76194.65
(2604.16)
2516802
183598.47
1.40
TOTAL
5803052
461058.12
-59.81
Nifty Spot = 9837.40
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9900
64.45
Buy
9800
68.60
34.80
65.20
9934.80
26.50
73.50
9773.50
Sell
10000
29.65
Sell
9700
42.10
Buy
9900
64.45
Buy
9800
68.60
51.35
148.65
9951.35
42.15
157.85
9757.85
Sell
10100
13.10
Sell
9600
26.45
Buy
10000
29.65
Buy
9700
42.10
16.55
83.45
10016.55
15.65
84.35
9684.35
Sell
10100
13.10
Sell
9600
26.45
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
August 21, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,747
1,771
1,788
1,811
1,829
ADANIPORTS
379
383
387
390
394
AMBUJACEM
263
269
273
279
283
ASIANPAINT
1,116
1,128
1,135
1,147
1,155
AUROPHARMA
678
692
701
714
723
AXISBANK
486
488
492
494
498
BAJAJ-AUTO
2,776
2,793
2,809
2,827
2,842
BANKBARODA
143
145
147
149
151
BPCL
477
490
501
514
525
BHARTIARTL
409
415
419
425
428
INFRATEL
374
385
391
401
407
BOSCHLTD
21,606
21,820
21,985
22,199
22,364
CIPLA
552
558
567
574
583
COALINDIA
238
241
244
247
251
DRREDDY
1,951
1,966
1,987
2,003
2,023
EICHERMOT
30,120
30,816
31,207
31,903
32,295
GAIL
368
374
380
386
391
HCLTECH
854
865
875
886
896
HDFCBANK
1,734
1,743
1,752
1,761
1,770
HDFC
1,706
1,721
1,740
1,754
1,773
HEROMOTOCO
3,953
3,970
3,985
4,002
4,018
HINDALCO
223
226
229
233
236
HINDUNILVR
1,156
1,179
1,193
1,216
1,230
IBULHSGFIN
1,175
1,189
1,201
1,215
1,227
ICICIBANK
289
291
293
295
296
IOC
417
422
429
434
441
INDUSINDBK
1,583
1,602
1,613
1,633
1,644
INFY
808
866
942
999
1,075
ITC
274
278
281
285
288
KOTAKBANK
972
978
982
987
991
LT
1,116
1,123
1,130
1,138
1,145
LUPIN
925
932
941
948
958
M&M
1,351
1,361
1,370
1,379
1,389
MARUTI
7,492
7,545
7,585
7,638
7,677
NTPC
169
171
175
177
181
ONGC
159
160
161
162
163
POWERGRID
217
220
222
225
227
RELIANCE
1,544
1,560
1,569
1,584
1,593
SBIN
274
277
278
280
282
SUNPHARMA
456
463
474
481
492
TCS
2,433
2,474
2,512
2,552
2,590
TATAMTRDVR
223
225
226
228
230
TATAMOTORS
374
377
380
383
386
TATAPOWER
79
80
81
81
82
TATASTEEL
616
621
625
630
633
TECHM
413
421
429
437
444
ULTRACEMCO
3,878
3,946
3,992
4,061
4,107
VEDANTA
291
294
299
303
307
WIPRO
286
287
289
290
292
YESBANK
1,693
1,707
1,722
1,736
1,751
ZEEL
498
505
515
522
532
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Technical & Derivatives Report
August 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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