Technical & Derivatives Report
January 22, 2018
Sensex (35512) / Nifty (10895)
Exhibit 1: Nifty Daily Chart
On Friday, our markets started on a positive note owing to
improved sentiment after the government decided to cut tax rates
on certain products and services. Subsequently, Index traded in a
range during the early hours of the trading session. However, a
strong up move in the last few hours pushed Index to kiss yet
another milestone of 10900. The clear shining stars were private
banks as Bank Nifty ended tad near the 27000 mark.
The week gone by was high action-packed, as some of the news
like government allowing an increase in FDI limits in the banking
sector and GST council cuts rates on certain products and services
acted as supplementary for the bulls. However, the up move was
not an easy ride with some signs of weakness was seen during
Tuesday and Thursday when Index came off from its highs
impacting the midcap and small cap stocks on a larger scale
which collapsed like nine pins. The recent up move has been
supported with selective heavyweight counters and Banks
conglomerates; it seems that the bulls are not at all willing to give
up and with the important event (Union Budget) being around the
corner some or the other sector is supporting the Index to extend
further up. Technically, Index has now rallied around 350 points
in January and momentum RSI has now reached in a deep
overbought territory. Going ahead, one needs to see how
markets behave at higher levels as the possibility of seeing some
profit booking cannot be ruled out. For the coming week, we are
likely to see choppy trades with higher volatility as we head for
the F&O expiry week which is a truncated one. As far as levels
are concerned, 10940-11000 are likely to act an immediate
hurdle; whereas, on the downside, 10800 would be seen as
immediate and important support levels. At this juncture, a
prudent strategy would be to stay light on positions and book
positions in long at higher levels.
Key Levels
Support 1 - 10827
Resistance 1 - 10940
Support 2 - 10800
Resistance 2 - 11000
Nifty Bank Outlook - (26910)
Exhibit 2: Nifty Bank Daily Chart
On Friday, post opening on a positive note, the Nifty Bank Index
witnessed profit booking in first few hours. However, after testing
its previous session low coinciding with a bullish gap around
26420 levels bounced back sharply in the latter half of the
trading session to end with gains of 1.40% over its previous
session close. Going ahead, the matching lows formed around
bullish gap zone around 26420-26335 will now act as in strong
support zone. On the higher side, the psychological level at
27000 followed 27093 will act a resistance. Traders are advised
to focus on stock specific moves from a short-term perspective
and to have a proper exit setup ahead in the F&O expiry week.
Key Levels
Support 1 - 26800
Resistance 1 - 27000
Support 2 - 26650
Resistance 2 - 27093
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Technical & Derivatives Report
January 22, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.43%
BankNifty futures open interest has increased by 6.21%
as market closed at 10894.70 levels.
The Nifty January future closed with a premium of 6.35
points against a discount of 6.20 points in last trading
session. The February series closed at a premium of
26.30 points.
The INDIA VIX has increased from 13.96 to 13.98. At the
same time, the PCR-OI of Nifty has increased from 1.64
to 1.74 level.
Few of the liquid counters where we have seen high cost
of carry are M&MFIN, CHENNPETRO, RNAVAL, FORTIS
and PETRONET.
Views
FIIs continue their buying streak in cash market segment,
OI Gainers
they bought to the tune of Rs. 988 crores. At the same
OI
PRICE
time, they were marginal sellers in index futures with
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
huge rise in open interest, indicating both long and short
NIITTECH
1362000
45.28
728.05
5.24
formation on Friday's trading session.
ICICIPRULI
6633900
23.89
429.70
4.56
In index options front, they were net buyers of Rs. 672
M&MFIN
6063750
17.51
468.60
-0.62
crores with rise in open interest. In call option,
JUBLFOOD
4009500
16.74
2093.30
7.28
11100 and 11200 strikes added fresh positions; while,
BIOCON
8920800
16.42
569.35
4.66
meaningful unwinding was seen in 10700-11000 call
JINDALSTEL
29610000
14.85
264.15
-0.11
options. On the flip side, huge build-up was seen in
JPASSOCIAT
227902000
14.41
21.70
5.06
10800 and 10900 put options. Maximum concentration
RPOWER
62491000
13.43
48.90
0.92
of OI remains intact in 11000 call and 10500 put
options.
The benchmark index extended its gains to touch the yet
OI Losers
another milestone of
10900 mark; meanwhile, we
OI
PRICE
SCRIP
OI
PRICE
witnessed good amount of long formation in index
CHG. (%)
CHG. (%)
futures during the week. As far as FIIs activities are
INDIACEM
23135000
-81.63
184.70
1.32
concerned, they formed mixed positions in index futures;
JSWENERGY
35785000
-12.71
91.70
2.74
however, they continue adding long positions in stock
TORNTPOWER
4230000
-12.42
302.80
3.61
futures and index call options and simultaneously formed
VOLTAS
3114000
-11.36
618.20
2.73
shorts in index put options. Considering the above data
BERGEPAINT
2673000
-9.06
246.65
-2.79
points, we believe
10750-10800 has become an
CANBK
11659200
-8.50
362.70
3.95
immediate support for index now; whereas, Nifty put
CONCOR
1448125
-7.98
1473.65
2.08
options activities suggests, hurdle around 11000 mark.
ICIL
7195000
-7.82
119.80
3.58
Hence, we would still advise traders should avoid any
bearish bets unless we don’t see any meaningful change
in data.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.74
1.23
JUBLFOOD
45.30
BANKNIFTY
1.33
0.80
IBULHSGFIN
34.49
RELIANCE
0.40
0.34
NIITTECH
43.95
INFY
1.26
0.66
BIOCON
46.57
TATAMOTORS
0.35
0.27
ADANIPORTS
36.42
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Technical & Derivatives Report
January 22, 2018
FII Statistics for January 19, 2018
Turnover on January 19, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3117.64
3143.64
(26.00)
289254
24486.94
10.03
266703
24682.11
-14.98
FUTURES
FUTURES
INDEX
INDEX
78803.23
78131.50
671.73
1043790
87952.86
6.45
6434071
591640.77
-59.91
OPTIONS
OPTIONS
STOCK
13742.75
12432.91
1309.84
997482
75141.40
(0.51)
STOCK
FUTURES
978132
75308.25
-9.39
FUTURES
STOCK
STOCK
12174.31
12269.44
(95.13)
122931
9654.30
(0.62)
807554
65318.83
-7.06
OPTIONS
OPTIONS
Total
107837.92
105977.49
1860.43
2453457
197235.49
3.53
TOTAL
8486460
756949.97
-54.35
Nifty Spot = 10894.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10900
49.85
Buy
10900
51.40
32.95
67.05
10932.95
28.15
71.85
10871.85
Sell
11000
16.90
Sell
10800
23.25
Buy
10900
49.85
Buy
10900
51.40
45.70
154.30
10945.70
39.40
160.60
10860.60
Sell
11100
4.15
Sell
10700
12.00
Buy
11000
16.90
Buy
10800
23.25
12.75
87.25
11012.75
11.25
88.75
10788.75
Sell
11100
4.15
Sell
10700
12.00
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
January 22, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
413
423
429
440
446
AMBUJACEM
260
264
271
275
281
ASIANPAINT
1,171
1,180
1,188
1,197
1,205
AUROPHARMA
627
635
641
649
656
AXISBANK
576
583
588
596
601
BAJAJ-AUTO
3,152
3,181
3,203
3,232
3,253
BAJFINANCE
1,603
1,653
1,682
1,731
1,761
BPCL
461
469
474
482
487
BHARTIARTL
477
488
494
504
511
INFRATEL
335
341
345
350
354
BOSCHLTD
19,726
19,851
19,935
20,060
20,144
CIPLA
598
600
603
605
608
COALINDIA
278
281
283
286
289
DRREDDY
2,429
2,460
2,482
2,513
2,535
EICHERMOT
27,546
27,778
27,983
28,215
28,420
GAIL
455
462
467
474
479
HCLTECH
936
947
957
968
978
HDFCBANK
1,903
1,928
1,944
1,968
1,984
HDFC
1,884
1,893
1,903
1,911
1,921
HEROMOTOCO
3,520
3,555
3,587
3,622
3,655
HINDALCO
249
254
257
261
264
HINDPETRO
405
411
415
421
426
HINDUNILVR
1,339
1,351
1,362
1,374
1,385
IBULHSGFIN
1,220
1,261
1,285
1,326
1,349
ICICIBANK
336
345
350
359
364
IOC
370
378
384
391
397
INDUSINDBK
1,661
1,672
1,682
1,694
1,704
INFY
1,131
1,137
1,142
1,149
1,154
ITC
268
271
274
278
281
KOTAKBANK
1,035
1,048
1,056
1,069
1,077
LT
1,343
1,357
1,368
1,382
1,393
LUPIN
899
912
919
931
938
M&M
741
753
761
773
781
MARUTI
9,220
9,272
9,334
9,386
9,448
NTPC
169
171
172
174
175
ONGC
190
192
194
196
198
POWERGRID
192
194
196
198
200
RELIANCE
917
924
929
936
942
SBIN
300
305
307
312
315
SUNPHARMA
560
566
573
579
587
TCS
2,863
2,908
2,941
2,986
3,019
TATAMOTORS
411
415
418
422
425
TATASTEEL
733
743
753
763
772
TECHM
541
547
553
559
564
ULTRACEMCO
4,206
4,253
4,318
4,365
4,429
UPL
783
793
800
810
818
VEDANTA
319
325
329
336
340
WIPRO
317
323
326
332
336
YESBANK
334
342
347
355
360
ZEEL
578
589
596
607
614
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Technical & Derivatives Report
January 22, 2018
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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