Technical & Derivatives Report
September 22, 2017
Sensex (32370) / Nifty (10122)
Exhibit 1: Nifty Daily Chart
Our markets had a quiet start as indicated by the SGX Nifty
early in the morning. However, we witnessed a sharp decline
of nearly 100 points from day’s high in merely 15 minutes
towards the tail end of the initial hour. Despite this, index
managed to reclaim the 10100 mark as we saw decent
recovery during the remaining part of the day; courtesy to
massive buying interest in the pharmaceutical space.
Since last couple of days, the Nifty was struggling to carry the
momentum after hitting fresh record highs on Monday. This
resulted into a decent profit booking from the skeptical
traders. However, the ’89 EMA’ on hourly chart acted as a
sheet anchor and hence, the index recovered smartly after
precisely testing this key indicator around 10060. This is what
we have been mentioning since last few days, a trader should
ideally avoid trading in the index and focus on individual
stocks. We continue to advise the same and now, one should
keep a close watch on important trading range of 10179 -
10058. A sustainable move on either side would dictate the
near term direction for the market.
Key Levels
Support 1 - 10079
Resistance 1 - 10160
Support 2 - 10058
Resistance 2 - 10179
Nifty Bank Outlook - (24799)
Exhibit 2: Nifty Bank Hourly Chart
The Nifty opened marginally negative yesterday and
surprisingly corrected sharply in the first half of the day. The
index then consolidated in a range for rest of the day and
ended the day with a loss of 0.66 percent.
Post the recent breakout from the resistance of 24500, the
index rallied higher upto 25100 and showed a corrective
move in yesterday's session. Yesterday's correction managed to
find support near the '89EMA' support on the hourly chart
which also coincided with the 38.2% retracement of the recent
upmove. While the index could give a pullback move in
today's session, it would be prudent to watch whether the index
continues the uptrend and breaches the recent high. As of
now, the broader trend continues to be positive and thus, this
corrective move should be termed as a corrective move within
an uptrend. Only if we see a formation of 'Lower Top' on the
hourly chart, then we will review our stance on the index. Short
term traders are advised to trade on stock specific moves with
a positive bias.
Key Levels
Support 1 - 24745
Resistance 1 - 24930
Support 2 - 24685
Resistance 2 - 24980
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Technical & Derivatives Report
September 22, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.81%
BankNifty futures open interest has decreased by 0.99%
as market closed at 10121.90 levels.
The Nifty September future closed with a premium of
15.20 points against the premium of 26.40 points in last
trading session. The October series closed at a premium
of 52.85 points.
The Implied Volatility of at the money options has
decreased from 9.90 to 9.28. At the same time, the PCR-
OI of Nifty is has decreased from 1.57 to 1.52 levels.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, INFIBEAM, SYNDIBANK,
ANDHRABANK and AJANTPHARM.
Views
FlIs were net sellers in both cash market segment and
index futures. They sold equities to the tune of Rs. 1205
OI Gainers
crores. While in index futures they were net sellers of
OI
PRICE
SCRIP
OI
PRICE
Rs.376 crores with good amount of rise in open interest,
CHG. (%)
CHG. (%)
suggesting further short formation along with some longs
TORNTPHARM
396000
34.51
1348.15
6.71
in previous trading session.
STAR
2270000
22.47
983.75
-3.70
In index options front, they were net buyers of Rs. 306
AJANTPHARM
1022400
19.55
1262.75
4.45
crores with marginal change in open interest. In call
WOCKPHARMA
3544800
16.06
657.65
3.45
option, OI addition was visible in 10100 strikes; followed
RELCAPITAL
9357000
12.54
720.70
-2.38
by some unwinding in 10500 call option. While, none of
RCOM
146300000
10.40
21.00
6.33
the strikes of put option added relevant positions;
NATIONALUM
24312000
10.31
82.35
-0.60
although, some unwinding was seen in 10000-10200
BAJAJFINSV
681125
10.30
5501.30
-1.96
put options. Maximum concentration of open interest
stands firm at 10200 call and 10000 put options.
OI Losers
Although, the benchmark indices gained nearly 2% in
OI
PRICE
September series along with good amount of long
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
additions, FIIs remained pessimistic and were sellers in
MFSL
5501000
-9.91
645.10
1.16
equities as well as index futures segment. Now, their
DIVISLAB
9284800
-9.79
990.35
4.95
index futures 'Long Short Ratio declining to 52% from
JUSTDIAL
3747600
-8.20
403.90
0.01
71% seen during start of September series. Looking at
ANDHRABANK
25340000
-8.09
61.15
-3.40
the above data, we believe weaker hands are driving the
NIITTECH
1423500
-7.23
539.10
1.04
market at present; which certainly makes us
INDIACEM
28637000
-6.60
183.05
-1.48
uncomfortable to trade in index. However, momentum in
SHREECEM
33800
-6.50
18403.45
-0.52
individual stocks propels us to prefer stock specific
BEML
2552400
-6.36
1827.80
-2.40
approach.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TORNTPHARM
44.10
NIFTY
1.52
1.06
DRREDDY
56.86
BANKNIFTY
0.84
0.80
CIPLA
31.43
RELIANCE
0.55
0.59
HCLTECH
18.86
INFY
0.35
0.32
AJANTPHARM
37.83
SBIN
0.36
0.35
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Technical & Derivatives Report
September 22, 2017
FII Statistics for September 21, 2017
Turnover on September 21, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2220.32
2595.88
(375.55)
277971
21831.58
5.44
220323
18713.06
115.33
FUTURES
FUTURES
INDEX
INDEX
81770.42
81464.59
305.83
1103097
87232.12
(0.11)
11149447
1035713.08
217.51
OPTIONS
OPTIONS
STOCK
8636.55
8739.11
(102.57)
843005
60213.16
(0.29)
STOCK
FUTURES
797200
58288.79
13.45
FUTURES
STOCK
STOCK
8477.77
8480.17
(2.41)
107796
8160.23
3.72
623847
47768.53
6.37
OPTIONS
OPTIONS
Total
101105.06
101279.76
(174.70)
2331869
177437.09
0.63
TOTAL
12790817
1160483.46
169.15
Nifty Spot = 10121.90
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10100
75.95
Buy
10100
37.60
47.60
52.40
10147.60
19.65
80.35
10080.35
Sell
10200
28.35
Sell
10000
17.95
Buy
10100
75.95
Buy
10100
37.60
68.05
131.95
10168.05
28.65
171.35
10071.35
Sell
10300
7.90
Sell
9900
8.95
Buy
10200
28.35
Buy
10000
17.95
20.45
79.55
10220.45
9.00
91.00
9991.00
Sell
10300
7.90
Sell
9900
8.95
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
September 22, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,714
1,732
1,761
1,779
1,807
ADANIPORTS
402
406
410
415
419
AMBUJACEM
271
274
277
280
282
ASIANPAINT
1,211
1,220
1,234
1,243
1,256
AUROPHARMA
736
744
753
761
769
AXISBANK
497
505
514
521
530
BAJAJ-AUTO
3,028
3,053
3,094
3,120
3,161
BANKBARODA
142
144
146
148
151
BPCL
486
491
496
501
505
BHARTIARTL
385
392
397
405
410
INFRATEL
378
383
391
396
404
BOSCHLTD
21,270
21,414
21,645
21,789
22,019
CIPLA
561
577
585
601
609
COALINDIA
245
250
253
257
261
DRREDDY
2,291
2,389
2,444
2,542
2,598
EICHERMOT
31,173
31,499
32,024
32,349
32,875
GAIL
398
403
411
416
424
HCLTECH
853
862
878
887
903
HDFCBANK
1,822
1,830
1,839
1,848
1,857
HDFC
1,751
1,770
1,783
1,801
1,814
HEROMOTOCO
3,780
3,838
3,870
3,928
3,960
HINDALCO
233
239
242
248
252
HINDUNILVR
1,242
1,249
1,256
1,263
1,269
IBULHSGFIN
1,224
1,253
1,295
1,324
1,366
ICICIBANK
280
282
286
289
293
IOC
406
410
415
418
423
INDUSINDBK
1,702
1,716
1,726
1,740
1,749
INFY
904
907
911
914
918
ITC
264
267
270
272
275
KOTAKBANK
1,012
1,020
1,029
1,037
1,046
LT
1,194
1,211
1,226
1,242
1,257
LUPIN
989
1,010
1,025
1,045
1,060
M&M
1,273
1,282
1,289
1,299
1,306
MARUTI
8,035
8,090
8,130
8,186
8,226
NTPC
166
167
168
169
169
ONGC
162
164
166
168
170
POWERGRID
209
210
212
213
214
RELIANCE
828
835
843
850
859
SBIN
265
267
269
271
273
SUNPHARMA
497
508
517
528
537
TCS
2,454
2,490
2,515
2,551
2,576
TATAMTRDVR
223
228
234
239
244
TATAMOTORS
404
409
414
418
423
TATAPOWER
82
83
83
84
85
TATASTEEL
673
680
688
695
703
TECHM
444
452
457
465
470
ULTRACEMCO
4,093
4,129
4,187
4,223
4,281
VEDANTA
311
317
321
327
331
WIPRO
288
290
292
293
295
YESBANK
368
373
378
382
387
ZEEL
515
525
538
548
561
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Technical & Derivatives Report
September 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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