Technical & Derivatives Report
February 22, 2017
Sensex (28762) / Nifty (8908)
Exhibit 1: Nifty Daily Chart
The Nifty index opened marginally in the positive territory and
traded in a range of 60 points throughout the session. Eventually,
a positive momentum in the concluding hour led the index to
close almost at the highest point of the day by adding another
0.26 percent to the bull’s kitty.
Although, the Nifty index traded in a narrow range, the index
precisely tested the lower end of our mentioned target range of
8920 - 8969 in last hour of the session. The market breadth was
in favor of advances and thus, there were good stock specific
opportunities for traders to capitalize on. Some of the index
heavyweights have shown signs of strength and thus, we would
continue with our optimistic stance to conclude the current
derivatives expiry on a high note. In next couple of trading
sessions, the Nifty index is likely to extend this rally towards 8969.
Hence, we continue to advise traders to trade with a positive bias
and keep holding directional long positions by trailing a stop loss
now at 8790 on a closing basis. The intraday supports for the
Nifty index are placed around 8850 and 8800.
Key Levels
Support 1 - 8850
Resistance 1 - 8969
Support 2 - 8800
Resistance 2 - 9000
Nifty Bank Outlook - (20861)
Exhibit 2: Nifty Bank Daily Chart
In line with our expectations, the Nifty Bank index continued its
positive momentum and it ended the session on a positive note,
adding another 0.89 percent over its previous session's close.
The Private sector heavyweights showed signs of strength in the
last hour of trade yesterday and led the Nifty Bank index to close
near the high point of the day. The index heavyweights continue
to show strength and thus, we could see continuation of this
upmove in near term. Hence, we continue with our optimistic
stance on the Nifty Bank index as well and advise traders to trade
with positive bias. The near term supports for the Nifty Bank index
are placed around 20585 and 20450 whereas resistances are
seen around 21042 and 21215.
Key Levels
Support 1 - 20585
Resistance 1 - 21042
Support 2 - 20450
Resistance 2 - 21215
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Technical & Derivatives Report
February 22, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.17%
BankNifty futures open interest has increased by 14.24%
as market closed at 8907.85 levels.
The Nifty February future closed with a premium of 2.50
points against the discount of 5.35 points in last trading
session. The March series closed at a premium of 33.80
points.
The Implied Volatility of at the money options has
increased from 12.24% to 12.30%. At the same time, the
PCR-OI of Nifty has increased from 1.15 to 1.20 levels.
The total OI of the market is Rs. 3,44,628/- cr. and the
stock futures OI is Rs. 1,00,343/- cr.
Few of the liquid counters where we have seen high cost
of carry are PTC, KPIT, ADANIPOWER, OIL and
GMRINFRA.
Views
Yesterday, FIIs continue selling in both cash market
OI Gainers
segment and index futures. They sold equities worth Rs.
OI
PRICE
1436 crores. While in index futures, they were sellers to
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
the tune of Rs. 1017 crores with good amount of rise in
NIITTECH
880500
22.29
419.75
-1.12
open interest, indicating fresh short formation in previous
JINDALSTEL
50814000
22.02
109.60
9.60
trading session.
DRREDDY
2936200
16.98
2900.05
-0.16
In index option segment, FIIs were sellers worth Rs. 727
COALINDIA
18579300
16.93
320.40
0.34
crores with rise in open interest. In call options, we hardly
STAR
2149500
16.03
1184.35
-0.95
saw any relevant open interest addition. However, good
INFRATEL
9041600
15.94
296.00
-4.32
amount of unwinding was witnessed in 8800 and 9000
PTC
20952000
15.73
92.30
4.89
call options. On the other hand, in put options, 8900
NHPC
39879000
14.23
30.15
-0.33
and 8950 strikes added good amount of positions, we
believe FIIs formed short positions in these put strikes.
Highest OI in current series remains intact at 9000 call
OI Losers
and of put option has shifted to 8800 strike.
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Yesterday, Nifty continued to rally and closed above
PNB
57435000
-14.48
143.80
0.52
8900 mark. FIIs formed fresh shorts in index futures but
MCLEODRUSS
2871000
-9.72
169.85
-1.19
looking at the open interest data we believe these
JPASSOCIAT
164356000
-9.61
14.45
-4.30
positions are formed in March series. However, longs
HEXAWARE
5616000
-9.08
213.90
-0.56
formed from the start of February series are still intact.
UNIONBANK
25976000
-8.87
145.15
3.53
We witnessed FIIs writing 8900 and 8950 puts; this
RPOWER
59376000
-8.86
45.30
0.55
indicates they are expecting current series to expire
WOCKPHARMA
3756000
-8.21
719.35
0.35
above 8950 levels. Hence, traders are suggested to trade
CANBK
17831688
-7.12
294.45
1.41
with positive bias.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
JETAIRWAYS
52.26
NIFTY
1.20
0.96
DABUR
24.59
BANKNIFTY
1.23
1.00
AXISBANK
37.31
SBIN
0.48
0.28
JINDALSTEL
71.63
TATAMOTORS
0.41
0.40
GODREJCP
29.82
ICICIBANK
0.63
0.39
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Technical & Derivatives Report
February 22, 2017
FII Statistics for February 21, 2017
Turnover on February 21, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
10171.44
11188.65
(1017.20)
414456
28789.63
8.12
393696
27892.35
75.77
FUTURES
FUTURES
INDEX
INDEX
37459.01
38185.98
(726.97)
1311559
91165.49
2.67
4938233
358852.16
33.53
OPTIONS
OPTIONS
STOCK
27988.14
27647.43
340.71
1205285
80932.19
2.79
STOCK
FUTURES
1303417
89942.83
20.04
FUTURES
STOCK
STOCK
5962.78
5810.72
152.06
127330
9072.47
1.14
539597
38000.37
3.77
OPTIONS
OPTIONS
TOTAL
81581.38
82832.78
(1251.40)
3058630
209959.78
3.36
TOTAL
7174943
514687.72
29.92
Nifty Spot = 8907.85
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8900
40.80
Buy
8900
29.00
32.80
67.20
8932.80
22.10
77.90
8877.90
Sell
9000
8.00
Sell
8800
6.90
Buy
8900
40.80
Buy
8900
29.00
39.45
160.55
8939.45
26.50
173.50
8873.50
Sell
9100
1.35
Sell
8700
2.50
Buy
9000
8.00
Buy
8800
6.90
6.65
93.35
9006.65
4.40
95.60
8795.60
Sell
9100
1.35
Sell
8700
2.50
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
February 22, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,437
1,452
1,463
1,479
1,490
ADANIPORTS
296
300
303
307
310
AMBUJACEM
230
235
237
241
244
ASIANPAINT
970
981
987
998
1,005
AUROPHARMA
656
671
684
699
713
AXISBANK
470
487
498
515
526
BAJAJ-AUTO
2,761
2,780
2,793
2,812
2,825
BANKBARODA
167
168
169
171
172
BHEL
151
153
155
157
158
BPCL
691
698
707
714
723
BHARTIARTL
348
356
367
374
385
INFRATEL
284
290
300
306
316
BOSCH
21,457
21,595
21,737
21,875
22,017
CIPLA
586
589
592
596
599
COALINDIA
315
317
319
322
324
DRREDDY
2,855
2,874
2,905
2,924
2,955
EICHERMOT
24,894
25,074
25,227
25,407
25,560
GAIL
514
519
525
530
536
GRASIM
1,048
1,058
1,066
1,076
1,084
HCLTECH
834
843
853
861
871
HDFCBANK
1,387
1,401
1,412
1,426
1,436
HDFC
1,381
1,397
1,405
1,421
1,430
HEROMOTOCO
3,071
3,098
3,118
3,145
3,165
HINDALCO
179
181
184
186
189
HINDUNILVR
846
854
860
869
875
ICICIBANK
279
282
284
287
289
IDEA
105
107
108
110
112
INDUSINDBK
1,312
1,322
1,335
1,344
1,357
INFY
988
1,001
1,013
1,025
1,037
ITC
258
261
263
266
269
KOTAKBANK
787
792
797
802
806
LT
1,469
1,476
1,483
1,490
1,497
LUPIN
1,452
1,462
1,467
1,477
1,482
M&M
1,296
1,304
1,311
1,319
1,326
MARUTI
6,018
6,041
6,066
6,088
6,113
NTPC
170
171
172
174
175
ONGC
194
195
196
197
198
POWERGRID
203
205
206
208
209
RELIANCE
1,066
1,077
1,084
1,095
1,102
SBIN
267
269
270
272
273
SUNPHARMA
661
667
676
682
691
TCS
2,411
2,438
2,482
2,509
2,553
TATAMTRDVR
276
278
280
281
283
TATAMOTORS
450
455
459
463
467
TATAPOWER
83
83
85
86
87
TATASTEEL
480
485
491
496
502
TECHM
492
500
508
515
523
ULTRACEMCO
3,700
3,735
3,759
3,794
3,818
WIPRO
470
473
477
480
484
YESBANK
1,422
1,436
1,445
1,459
1,468
ZEEL
516
520
524
527
531
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Technical & Derivatives Report
February 22, 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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