Technical & Derivatives Report
February 22, 2018
Sensex (33845) / Nifty (10397)
Exhibit 1: Nifty Daily Chart
It was a day of consolidation for our markets as we saw index
gyrating within a small range throughout the session. A gap up
opening was merely a formality, which was hinted by an ‘Open
High’. The Nifty slipped towards Tuesday’s low in initial half an
hour of the trade. This was then followed by a lackluster
movement with a gradual recovery towards the 10400 mark.
With yesterday’s action, we do not see any major change in the
price structure. Who knows, this might be the lull before the
storm. Considering the expiry factor, such range bound day was
quite evident as we can see Nifty getting stuck in a small band of
200 points i.e. 10500 - 10300. Hence, we did not see any
directional move with a conviction during the day. However, we
can now see an addition of yet another indicator along with
bearish price structure; providing credence to the possible
downside in days to come. The ‘RSI-Smoothened’ on daily chart
has slipped below the 30 mark, which generally can be treated
as an alarming sign. Last time, this kind of scenario was seen few
days ahead of the ‘Demonetization’ and then the rest was history.
Hence, with reference to previous articles, we continue to remain
cautious and one should avoid forming fresh longs in case of any
bounce back. For the coming session, 10456 - 10500 would
continue to act as immediate resistance; whereas, 10347
-
10300 remains to be an important support zone for the day.
During the session, only ‘IT’ conglomerates were on a roll as
weakening of Indian Rupee (INR) against the US Dollar provided
some strength to this space. We may continue to see such positive
traction in marquee names within this basket.
Key Levels
Support 1 - 10347
Resistance 1 - 10456
Support 2 - 10300
Resistance 2 - 10500
Nifty Bank Outlook - (24937)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index traded in a narrow range in yesterday's
session and ended the day with marginal gains. If we observe the
daily chart, it is seen that the index is presently trading close to its
'200 SMA' which is placed in the range of 24650-24700. Since
this average is usually considered a support for corrective moves,
there could be a phase of a pullback or a consolidation in near
term. However, at current juncture, there are no signs of a
reversal of the trend and hence, traders are advised to stay light
on positions. The intraday support for the Nifty Bank index is
placed in the range of 24700-24650 whereas resistances are
seen around 25158 and 25350.
Key Levels
Support 1 - 24700
Resistance 1 - 25158
Support 2 - 24650
Resistance 2 - 25350
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Technical & Derivatives Report
February 22, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 3.64%
BankNifty futures open interest has decreased by 2.23%
as market closed at 10397.45 levels.
The Nifty February future closed with a discount of 4.55
points against a discount of 16.65 points in last trading
session. The March series closed at a premium of 17.40
points.
The INDIA VIX has decreased from 16.87 to 15.92. At
the same time, the PCR-OI of Nifty has increased from
1.10 to 1.18 level.
Few of the liquid counters where we have seen high cost
of carry are SUZLON, RCOM, ANDHRABANK, INFIBEAM
and IDBI.
Views
OI Gainers
FIIs continued selling in cash market segment to the tune
OI
PRICE
SCRIP
OI
PRICE
of Rs. 1214 crores. While, they were net buyers in index
CHG. (%)
CHG. (%)
futures of Rs. 627 crores with fall in open interest,
ADANIPOWER
138100000
24.10
31.40
0.00
indicating covering of some of their short positions in last
RNAVAL
41751000
16.24
38.50
1.05
trading session.
ADANIENT
19592000
13.67
197.50
-0.30
In index options front, they were net sellers of Rs. 1414
PFC
78066000
13.51
104.85
-0.76
crores with marginal change in open interest. In Nifty call
MINDTREE
1756800
12.70
726.90
4.01
options, some fresh build up was seen in 10450-10500
TATASTEEL
33332376
12.44
637.80
-1.92
strikes; followed by good amount of unwinding in
COLPAL
1291500
10.08
1077.25
0.92
10400, 10600 and 10700 call options. On the flip side,
JUSTDIAL
4082400
10.08
442.35
0.72
decent amount of build up was seen in 10250-10400
strikes. Now, maximum open interest concentration for
current series is placed at 10500 call and 10300 put
OI Losers
options.
OI
PRICE
SCRIP
OI
PRICE
In yesterday’s session, market opened with an upside
CHG. (%)
CHG. (%)
AMBUJACEM
13390000
-12.11
261.45
-0.36
gap but couldn’t manage to sustain at higher levels and
NIITTECH
1638000
-12.01
794.75
4.74
concluded the session below
10400 mark. FII’s
continued their selling streak in cash market segment. At
ALBK
21330000
-11.01
52.35
1.45
present, they are net short in the index future segment as
SYNDIBANK
32265000
-10.55
58.85
0.77
their ‘Long Short Ratio’ is currently at 42%. However, we
BERGEPAINT
1366200
-10.13
246.50
1.61
saw some short covering in index futures yesterday along
PIDILITIND
1074000
-9.21
901.05
0.72
with some put writing in 10300-10400 strikes; thus,
ACC
1821600
-9.16
1647.65
0.20
hinting we may end February series above
TORNTPOWER
3795000
-8.80
261.05
-0.46
10350-10370 mark.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.18
0.99
SUNPHARMA
46.89
BANKNIFTY
0.86
0.74
HCLTECH
34.64
PNB
0.63
0.95
CHOLAFIN
36.44
SUNPHARMA
0.43
0.63
TCS
32.95
SBIN
0.47
0.57
VOLTAS
44.05
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Technical & Derivatives Report
February 22, 2018
FII Statistics for February 21, 2018
Turnover on February 21, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
5230.98
4604.13
626.85
292169
23701.91
(2.26)
327458
27844.56
-14.22
FUTURES
FUTURES
INDEX
INDEX
104029.87
105443.78
(1413.91)
1083534
86975.58
(0.06)
8467051
732681.47
5.92
OPTIONS
OPTIONS
STOCK
30900.13
29660.78
1239.35
1127553
79471.38
1.91
STOCK
FUTURES
1723160
118141.78
19.54
FUTURES
STOCK
STOCK
6105.99
6055.26
50.73
108975
7814.53
(2.04)
674855
48762.06
14.29
OPTIONS
OPTIONS
Total
146266.98
145763.96
503.03
2612231
197963.39
0.44
TOTAL
11192524
927429.87
7.13
Nifty Spot = 10397.45
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10400
31.20
Buy
10400
38.70
26.60
73.40
10426.60
27.20
72.80
10372.80
Sell
10500
4.60
Sell
10300
11.50
Buy
10400
31.20
Buy
10400
38.70
30.55
169.45
10430.55
36.20
163.80
10363.80
Sell
10600
0.65
Sell
10200
2.50
Buy
10500
4.60
Buy
10300
11.50
3.95
96.05
10503.95
9.00
91.00
10291.00
Sell
10600
0.65
Sell
10200
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, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
386
391
395
400
404
AMBUJACEM
255
258
264
267
272
ASIANPAINT
1,107
1,117
1,125
1,135
1,143
AUROPHARMA
551
561
571
581
591
AXISBANK
519
527
533
541
547
BAJAJ-AUTO
2,954
2,983
3,032
3,062
3,111
BAJFINANCE
1,543
1,570
1,614
1,641
1,685
BPCL
431
439
449
457
467
BHARTIARTL
415
417
420
422
425
INFRATEL
330
334
337
341
344
BOSCHLTD
18,857
19,009
19,252
19,403
19,646
CIPLA
580
588
598
607
617
COALINDIA
302
306
309
313
316
DRREDDY
2,108
2,137
2,170
2,198
2,231
EICHERMOT
26,860
27,113
27,296
27,549
27,733
GAIL
460
463
466
469
473
HCLTECH
898
921
934
956
970
HDFCBANK
1,843
1,850
1,859
1,867
1,876
HDFC
1,808
1,816
1,825
1,833
1,841
HEROMOTOCO
3,432
3,461
3,490
3,519
3,547
HINDALCO
231
236
243
248
255
HINDPETRO
373
380
384
391
395
HINDUNILVR
1,315
1,323
1,331
1,339
1,347
IBULHSGFIN
1,218
1,231
1,241
1,254
1,264
ICICIBANK
314
316
319
321
324
IOC
358
363
368
373
377
INDUSINDBK
1,561
1,578
1,607
1,624
1,653
INFY
1,135
1,141
1,146
1,153
1,158
ITC
261
265
267
270
272
KOTAKBANK
1,035
1,045
1,053
1,063
1,071
LT
1,267
1,275
1,287
1,295
1,308
LUPIN
801
808
818
824
834
M&M
693
701
708
716
723
MARUTI
8,675
8,729
8,762
8,816
8,849
NTPC
159
161
163
164
166
ONGC
182
186
189
192
195
POWERGRID
192
193
194
195
197
RELIANCE
918
924
928
934
938
SBIN
265
269
272
276
278
SUNPHARMA
482
504
533
555
585
TCS
2,919
2,981
3,022
3,083
3,124
TATAMOTORS
357
361
367
370
376
TATASTEEL
621
631
643
653
666
TECHM
555
575
587
607
618
ULTRACEMCO
4,089
4,110
4,142
4,163
4,194
UPL
672
680
691
699
710
VEDANTA
316
322
327
332
337
WIPRO
288
290
293
295
297
YESBANK
301
307
310
316
320
ZEEL
566
569
574
577
581
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Technical & Derivatives Report
February 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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