Technical & Derivatives Report
August 22, 2017
Sensex (31259) / Nifty (9754)
Exhibit 1: Nifty Daily Chart
Our markets kicked off the trading week on a flat note owing
to mixed global cues. Subsequently, we witnessed some
consolidation in the initial hour. However, a strong bout of
selling in the second half dragged the index lower after
precisely facing a resistance around Friday's downward gap
area.
Yesterday's correction was no surprise as the index completed
its bounce back move during last week after facing a stiff
hurdle around the 9940 mark. The way most of the counters
cracked towards the fag end is certainly an indication of
weakness. Going forward, we continue to expect this
correction towards 9620. On the flipside, 9830 - 9884 are
likely to act as a strong resistance zone.
Key Levels
Support 1 - 9681
Resistance 1 - 9830
Support 2 - 9620
Resistance 2 - 9884
Nifty Bank Outlook - (23936)
Exhibit 2: Nifty Bank Daily Chart
Although the Nifty Bank index moved higher in the first hour
yesterday, the index later resumed its corrective move and
ended the session with a loss of 0.57 percent over its previous
session's close.
As we have been mentioning since last few days, the short
term movement in the Nifty Bank index continues to be
corrective in nature and hence, we continue with our cautious
stance on the index. Traders are repeatedly advised to avoid
any buying and stay light in the index. A minimum of 23.6%
retracement of the entire upmove from 17593 to 25196 gives
a probable target projection of 23402. Hence, unless we see
any reversal in the index heavyweights, traders should avoid
bottom fishing at current juncture. The intraday supports for
the Nifty Bank index are placed around 23815 and 23725
whereas resistances are seen around 24127 and 24260.
Key Levels
Support 1 - 23815
Resistance 1 - 24127
Support 2 - 23725
Resistance 2 - 24260
www.angelbroking.com
Technical & Derivatives Report
August 22, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.27%
BankNifty futures open interest has increased by 8.26%
as market closed at 9754.35 levels.
The Nifty August future closed with a premium of 14.25
points against the premium of 17.00 points in last
trading session. The September series closed at a
premium of 47.40 points.
The Implied Volatility of at the money options has
increased from 11.87 to 12.84. At the same time, the
PCR-OI of Nifty has decreased from 1.14 levels to 1.07.
Few of the liquid counters where we have seen high cost
of carry are IBREALEST, INFIBEAM, MCDOWELL-N,
CGPOWER and BERGEPAINT.
Views
FIIs were net sellers in cash market segment to the tune
OI Gainers
of Rs.1983 crores. While, in index futures they were net
OI
PRICE
buyers of worth Rs. 486 crores with rise in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
indicating some fresh long formation in previous trading
OIL
2132306
13.10
273.50
-4.85
session.
RAMCOCEM
561600
12.14
663.70
-3.19
In index options segment, they were net buyers of
INFY
45862000
10.35
876.70
-5.44
Rs. 194 crores with rise in open interest. In call option,
UPL
5016000
8.32
812.10
-4.26
9700-9900 and 10100 strikes were active and they also
PNB
27331500
7.46
137.80
-3.40
added good amount of fresh positions. On the flip side,
CEATLTD
1804600
6.97
1679.75
-1.66
we hardly saw any strikes of put options adding relevant
PAGEIND
30750
6.77
17063.50
-0.32
positions; however, decent unwinding was seen in 9500,
PVR
745200
6.64
1279.75
-3.61
9800-10000 put options. Maximum concentration of
open interest remains intact in 10000 call and 9800 put
option.
OI Losers
OI
PRICE
FIIs continued their selling streak in cash segment.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
However, their activity in F&O segment was insignificant
MANAPPURAM
24246000
-16.40
94.00
10.98
yesterday. Call options of Nifty added good amount of
BEML
2046000
-11.86
1838.95
-2.72
positions and we believe retail participants have formed
HEXAWARE
2523000
-11.66
266.65
-2.88
long positions in the hopes of market strengthening
BATAINDIA
2652100
-7.62
669.90
-1.50
going ahead. But, looking at the stronger hands activity
BAJAJFINSV
398625
-5.93
5215.45
-2.24
for current series, we maintain our negative stance on
TORNTPHARM
236800
-5.58
1251.80
-1.74
market. Traders are suggested to buy puts on rise in
PETRONET
11133000
-5.21
227.55
-0.61
index and exit longs if any.
KAJARIACER
416000
-5.11
639.25
-1.15
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
AMARAJABAT
32.50
NIFTY
1.07
1.00
OIL
32.74
BANKNIFTY
0.81
0.93
MANAPPURAM
78.86
INFY
0.39
0.53
CANFINHOME
34.29
SBIN
0.41
0.49
AJANTPHARM
43.70
RELIANCE
0.47
0.42
www.angelbroking.com
Technical & Derivatives Report
August 22, 2017
FII Statistics for August 21, 2017
Turnover on August 21, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1885.32
1399.77
485.55
345073
25772.42
1.07
204798
16731.76
-9.51
FUTURES
FUTURES
INDEX
INDEX
54228.38
54034.61
193.78
1197713
90109.32
1.31
4711987
399117.25
15.76
OPTIONS
OPTIONS
STOCK
8413.81
8066.27
347.54
845631
57000.19
0.88
STOCK
FUTURES
672130
46415.20
-12.80
FUTURES
STOCK
STOCK
7557.21
8021.33
(464.13)
167717
11381.04
8.29
614711
42085.87
-5.58
OPTIONS
OPTIONS
Total
72084.72
71521.98
562.74
2556134
184262.96
1.56
TOTAL
6203626
504350.08
9.39
Nifty Spot = 9754.35
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9800
66.75
Buy
9700
59.85
36.20
63.80
9836.20
24.95
75.05
9675.05
Sell
9900
30.55
Sell
9600
34.90
Buy
9800
66.75
Buy
9700
59.85
54.10
145.90
9854.10
38.30
161.70
9661.70
Sell
10000
12.65
Sell
9500
21.55
Buy
9900
30.55
Buy
9600
34.90
17.90
82.10
9917.90
13.35
86.65
9586.65
Sell
10000
12.65
Sell
9500
21.55
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
www.angelbroking.com
Technical & Derivatives Report
August 22, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,769
1,781
1,797
1,809
1,825
ADANIPORTS
366
371
380
385
394
AMBUJACEM
270
272
275
277
280
ASIANPAINT
1,122
1,128
1,135
1,141
1,148
AUROPHARMA
678
687
701
710
724
AXISBANK
485
490
497
502
508
BAJAJ-AUTO
2,722
2,744
2,782
2,804
2,842
BANKBARODA
136
139
144
147
153
BPCL
482
490
503
511
524
BHARTIARTL
413
416
421
424
429
INFRATEL
375
381
389
395
403
BOSCHLTD
21,645
21,807
22,063
22,226
22,482
CIPLA
547
555
562
569
577
COALINDIA
230
234
242
246
254
DRREDDY
1,871
1,901
1,951
1,981
2,031
EICHERMOT
31,159
31,397
31,737
31,975
32,315
GAIL
363
369
378
383
392
HCLTECH
862
868
876
883
891
HDFCBANK
1,726
1,735
1,747
1,755
1,768
HDFC
1,722
1,730
1,738
1,746
1,753
HEROMOTOCO
3,899
3,935
3,987
4,024
4,075
HINDALCO
216
220
228
233
241
HINDUNILVR
1,168
1,180
1,194
1,206
1,220
IBULHSGFIN
1,182
1,190
1,200
1,208
1,218
ICICIBANK
288
291
295
298
303
IOC
394
404
421
430
448
INDUSINDBK
1,593
1,605
1,623
1,635
1,653
INFY
835
854
889
908
943
ITC
278
280
283
284
287
KOTAKBANK
952
961
976
985
1,000
LT
1,115
1,121
1,131
1,137
1,146
LUPIN
905
914
929
938
953
M&M
1,358
1,368
1,381
1,391
1,403
MARUTI
7,382
7,442
7,550
7,610
7,718
NTPC
169
171
173
174
176
ONGC
151
154
159
162
168
POWERGRID
216
218
222
224
227
RELIANCE
1,546
1,555
1,570
1,579
1,594
SBIN
269
272
276
279
284
SUNPHARMA
449
455
465
471
481
TCS
2,469
2,499
2,524
2,554
2,579
TATAMTRDVR
218
221
225
227
231
TATAMOTORS
365
370
376
381
387
TATAPOWER
80
80
80
81
81
TATASTEEL
607
614
626
634
646
TECHM
424
428
432
436
440
ULTRACEMCO
3,964
3,986
4,022
4,044
4,080
VEDANTA
283
288
297
303
312
WIPRO
285
286
289
290
293
YESBANK
1,684
1,700
1,727
1,743
1,770
ZEEL
500
505
510
514
520
www.angelbroking.com
Technical & Derivatives Report
August 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]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Private Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide
registration number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory
authority for accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or
co-managed public offering of securities of the c*ompany covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
www.angelbroking.com