Technical & Derivatives Report
April 23, 2018
Sensex (34416) / Nifty (10564)
Exhibit 1: Nifty Daily Chart
Our benchmarks continued their recovery mode for the straight
fourth week after sliding tad below the 10000 mark. However, in
the week gone by, the momentum seems to have disappeared
and it was evident also, as Nifty approached the strong resistance
zone of 10600
-
10640. There was no major addition
after Monday’s session and hence, the Nifty concluded the week
with a modest gain of eight tenths of a percent.
Let’s see why 10600 - 10640 is considered a sturdy wall. There
are few technical evidences that justify its significance. Firstly, post
the
‘Union
Budget’
correction,
Nifty
corrected
from 10638 and 10631 on two occasions, which will now act as
a strong hurdle. This almost coincides with the 50% Fibonacci
Hence, traders are advised to stay light for a while, keep
retracement of the recent fall from 11171.55 to 9951.90. In
focusing on key levels and adopt a stock centric approach
addition, the ‘Upward Sloping Trend line’ connecting previous
for next few days. As far as support levels are concerned,
bottoms (9687.55 and 10276.30) is now converging around the
10495 followed by 10355 would now be seen as crucial
same area. Hence, as a chartist, traders are respecting this zone
points.
of 10600 - 10640. In case of violation of this hurdle in the
upward direction on a sustainable basis, we may see relief rally
getting extended 10720
- 10750; but it certainly does not
Key Levels
change the broader outlook, as we still expect a possibility of
Support 1 - 10546
Resistance 1 - 10600
selling pressure resuming at higher levels.
Support 2 - 10495
Resistance 2 - 10640
Nifty Bank Outlook - (24944)
Exhibit 2: Nifty Bank Daily Chart
During last week, the Nifty Bank index consolidated in a narrow
range during initial couple of trading sessions. However, as the
index attempted to cross above 25400, selling pressure was
witnessed and eventually, the index corrected during the end of
the week to register loss of a percent over its previous week's
close.
As mentioned above, the index witnessed some selling pressure
as the index approached 25400 levels and if we analyze the
index heavyweights, majority of them except HDFC Bank and
Kotak Bank have corrected and underperformed the benchmark
indices. Since there is no positive momentum seen in the index
heavyweights, the
Nifty
Bank could continue the
underperformance in near term. Hence, short-term traders should
prefer to stay light in the index and prefer a stock-specific
approach. The intraday supports for the Nifty Bank index are
placed around 24840 and 24666 whereas resistances are seen
around 25127 and 25225.
Key Levels
Support 1 - 24840
Resistance 1 - 25127
Support 2 - 24666
Resistance 2 - 25225
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Technical & Derivatives Report
April 23, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.81%
BankNifty futures open interest has increased by 2.42%
as market closed at 10564.05 levels.
The Nifty April future closed with a premium of 21.45
points against a premium of 12.80 points in last trading
session. The May series closed at a premium of 49.30
points.
The INDIA VIX has decreased from 13.74 to 12.94. At
the same time, the PCR-OI of Nifty has decreased from
1.63 to 1.62 level.
Few of the liquid counters where we have seen high cost
of carry are RCOM, CONCOR, INFIBEAM, IFCI and
SUZLON.
Views
OI Gainers
FIIs activity in cash market segment remained subdued.
OI
PRICE
While, they bought worth Rs. 200 crores in index futures
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
with decent rise in open interest, indicating blend of fresh
OFSS
97650
27.40
4306.05
4.05
long positions and short covering in yesterday’s trading
MINDTREE
3830400
19.73
979.85
7.79
session.
SRF
532000
17.18
2218.75
1.18
In index options front, they were buyers of Rs. 186 crores
CANBK
12480000
15.32
258.70
-7.06
with marginal change in open interest. As far as Nifty
BATAINDIA
2871000
12.94
801.90
4.58
options activities are concerned, we hardly witnessed any
APOLLOHOSP
652500
10.50
1134.00
1.39
relevant fresh build-up in call options; however, decent
IDBI
58290000
10.25
67.20
-3.85
unwinding was seen in 10300-10600 strikes. On the flip
DHFL
29671500
10.13
585.30
-1.07
side, we saw some OI build-up in 10550 put option;
followed by meaningful unwinding in
10200-10400
strikes. Maximum open interest concentration for April
OI Losers
series is placed at 10700 call and 10500 put options.
OI
PRICE
SCRIP
OI
PRICE
The benchmark index extended its gains last week to
CHG. (%)
CHG. (%)
conclude above 10550 mark. We witnessed fresh long
ONGC
36836250
-24.43
182.35
-0.84
formations in index futures segment and FIIs too
GLENMARK
5778000
-23.97
571.20
1.02
participate. Their ‘Long Short Ratio’ surged from 26% to
NIITTECH
1624500
-13.15
993.15
5.52
39% last week; which is a positive development. We
MUTHOOTFIN
2001000
-7.55
433.35
1.08
witnessed huge writing in 10500 and 10600 put options,
DCBBANK
7515000
-5.65
194.50
-2.11
hinting expiry above 10500-10550 levels. Taking above
CHOLAFIN
536500
-5.38
1562.35
-0.66
data into consideration, we expect continuation of
BALKRISIND
975200
-5.21
1298.80
-1.37
ongoing momentum in the expiry week.
HINDALCO
53298000
-5.17
262.10
-0.76
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TCS
41.20
NIFTY
1.62
1.26
MINDTREE
61.59
BANKNIFTY
1.39
0.86
MFSL
47.10
INFY
0.88
0.46
TECHM
42.08
ICICIBANK
1.08
1.03
INFY
32.68
TATAMOTORS
0.32
0.37
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Technical & Derivatives Report
April 23, 2018
FII Statistics for April 20, 2018
Turnover on April 20, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2153.99
1954.28
199.71
250732
20693.54
4.38
214526
18768.59
30.38
FUTURES
FUTURES
INDEX
INDEX
53324.69
53138.99
185.70
918167
74733.27
(0.05)
4820313
421190.30
-61.41
OPTIONS
OPTIONS
STOCK
11048.40
11473.80
(425.40)
1120354
80525.48
(0.41)
STOCK
FUTURES
958158
71286.51
25.38
FUTURES
STOCK
STOCK
11263.61
11132.90
130.71
117025
8364.13
5.96
974137
76147.71
42.71
OPTIONS
OPTIONS
Total
77790.70
77699.98
90.72
2406278
184316.42
0.51
TOTAL
6967134
587393.11
-51.69
Nifty Spot = 10564.05
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10600
39.05
Buy
10500
25.95
30.05
69.95
10630.05
14.35
85.65
10485.65
Sell
10700
9.00
Sell
10400
11.60
Buy
10600
39.05
Buy
10500
25.95
37.05
162.95
10637.05
20.35
179.65
10479.65
Sell
10800
2.00
Sell
10300
5.60
Buy
10700
9.00
Buy
10400
11.60
7.00
93.00
10707.00
6.00
94.00
10394.00
Sell
10800
2.00
Sell
10300
5.60
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
April 23, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
374
378
382
386
391
ASIANPAINT
1,132
1,146
1,156
1,169
1,180
AXISBANK
497
501
508
512
518
BAJAJ-AUTO
2,772
2,812
2,841
2,881
2,910
BAJFINANCE
1,822
1,851
1,879
1,909
1,937
BAJAJFINSV
5,189
5,238
5,314
5,363
5,439
BPCL
362
367
374
379
386
BHARTIARTL
387
394
399
407
411
INFRATEL
321
326
332
337
343
CIPLA
576
583
588
594
600
COALINDIA
277
285
290
297
302
DRREDDY
2,085
2,103
2,125
2,143
2,165
EICHERMOT
30,473
30,811
31,015
31,353
31,558
GAIL
315
323
333
341
350
GRASIM
1,074
1,087
1,098
1,112
1,123
HCLTECH
998
1,030
1,052
1,084
1,106
HDFCBANK
1,921
1,938
1,950
1,967
1,979
HDFC
1,806
1,820
1,847
1,861
1,887
HEROMOTOCO
3,667
3,705
3,728
3,765
3,788
HINDALCO
251
256
260
266
269
HINDPETRO
290
295
301
306
312
HINDUNILVR
1,429
1,449
1,460
1,480
1,491
IBULHSGFIN
1,331
1,344
1,359
1,372
1,387
ICICIBANK
274
278
284
288
294
IOC
155
158
159
162
164
INDUSINDBK
1,776
1,795
1,819
1,838
1,862
INFY
1,113
1,146
1,170
1,202
1,226
ITC
271
273
276
279
282
KOTAKBANK
1,135
1,144
1,154
1,163
1,173
LT
1,344
1,354
1,370
1,380
1,396
LUPIN
779
789
796
806
812
M&M
786
793
799
805
811
MARUTI
8,954
8,989
9,049
9,084
9,144
NTPC
170
172
175
177
180
ONGC
179
181
183
185
187
POWERGRID
204
206
208
209
211
RELIANCE
910
919
930
939
951
SBIN
236
239
242
245
249
SUNPHARMA
498
502
505
509
512
TCS
3,173
3,288
3,355
3,470
3,537
TATAMOTORS
329
333
338
341
347
TATASTEEL
593
600
609
616
626
TECHM
652
676
691
715
730
TITAN
938
947
956
966
975
ULTRACEMCO
4,015
4,048
4,091
4,124
4,168
UPL
743
754
763
774
782
VEDANTA
300
304
307
311
314
WIPRO
291
295
297
301
303
YESBANK
299
304
311
315
322
ZEEL
581
584
589
592
596
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Technical & Derivatives Report
April 23, 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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