Technical & Derivatives Report
August 23, 2017
Sensex (31292) / Nifty (9766)
Exhibit 1: Nifty Daily Chart
Yesterday, we witnessed a gap up opening in our markets
which was mainly a rub off effect of the cheerful mood seen in
the Hong Kong (HANG SENG) bourses. However, post this,
the Indian market had their own existence and hence, the
opening cues were not reflected during day’s course of action.
Now, if we look at the intraday activity, yesterday’s price
action was a replica of previous day as we saw index opening
higher and then correcting precisely from their intraday
hurdles. Yesterday, we saw a pullback move towards the trend
line breakdown point (9830) in the initial hour and from there
the Nifty remained under pressure throughout the remaining
part of the day. Going forward, we continue to expect this
correction getting extended towards 9685 - 9620 levels. On
the flipside, 9830 - 9884 remains to be a strong resistance
zone.
Key Levels
Support 1 - 9685
Resistance 1 - 9830
Support 2 - 9620
Resistance 2 - 9884
Nifty Bank Outlook - (23975)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index too opened on a positive note yesterday.
However, the bulls were unable to carry forward the
momentum and traded in a narrow range to end the session
with marginal gains of 0.11 percent.
As highlighted yesterday, the short-term trend for the index
continues to be corrective in nature. Any pullback move in
such scenario is likely to see selling pressure as we witnessed
in the broader market yesterday. Hence, we continue with our
cautious view and advise traders to avoid participating in the
pullback moves. Positionally, we are expecting target around
23402 in the index, which is the 23.6% retracement of the
entire upmove from 17593 to 25196. 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
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August 23, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.16%
BankNifty futures open interest has increased by 0.26%
as market closed at 9765.55 levels.
The Nifty August future closed with a premium of 19.10
points against the premium of 14.25 points in last
trading session. The September series closed at a
premium of 51.35 points.
The Implied Volatility of at the money options has
decreased from 12.84 to 12.40. At the same time, the
PCR-OI of Nifty has decreased from 1.07 levels to 1.09.
Few of the liquid counters where we have seen high cost
of carry are DLF, IBREALEST, STAR, INFIBEAM and BEML.
Views
FIIs were net sellers in cash market segment to the tune
of Rs.829 crores. While, in index futures they were net
OI Gainers
buyers of worth Rs. 209 crores with rise in open interest,
OI
PRICE
SCRIP
OI
PRICE
indicating some fresh long formation in previous trading
CHG. (%)
CHG. (%)
session.
MOTHERSUMI
9573750
11.78
311.55
-2.88
In index options segment, they were net sellers of
ICIL
11007500
8.75
100.25
-8.11
Rs. 561 crores with rise in open interest. In call options,
DLF
46200000
8.57
176.65
-2.32
9850 and 9950 strikes added some fresh positions. On
APOLLOHOSP
1697500
7.44
1098.40
4.32
the flip side, good amount of open interest addition was
DHFL
21426000
7.34
457.95
1.73
seen in
9400 and
9600 put options, followed by
NHPC
22383000
7.11
29.45
-1.51
unwinding in 9800 strike price. Maximum concentration
UPL
5338800
6.44
799.55
-1.55
of open interest remains intact in 10000 call and 9800
CANFINHOME
622750
5.82
2709.40
-3.07
put option.
FIIs continued curbing liquidity through cash market
OI Losers
segment. In past two trading sessions, they were net
OI
PRICE
SCRIP
OI
PRICE
buyers in index futures but the quantum was insignificant.
CHG. (%)
CHG. (%)
However, shorts formed in index futures earlier are still
HEXAWARE
2283000
-9.51
266.05
-0.23
intact. Thus, unless we don’t see any relevant change in
GODFRYPHLP
621500
-6.75
1054.15
-1.63
data we continue maintaining our negative stance on
FORTIS
37548900
-6.64
142.10
-1.39
index. Traders are suggested to buy puts on rise in index
AJANTPHARM
547200
-6.30
1154.05
0.23
and exit their longs if any.
BEML
1934400
-5.45
1798.45
-2.20
OIL
2016740
-5.42
276.80
1.21
UBL
945700
-5.06
805.65
0.25
CUMMINSIND
596400
-4.97
897.70
1.93
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CONCOR
37.64
NIFTY
1.09
0.92
APOLLOHOSP
41.05
BANKNIFTY
0.89
0.93
RECLTD
50.39
INFY
0.40
0.56
INDIGO
34.03
SBIN
0.43
0.38
ICIL
87.52
RELIANCE
0.47
0.44
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Technical & Derivatives Report
August 23, 2017
FII Statistics for August 22, 2017
Turnover on August 22, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1793.18
1583.83
209.35
346998
25995.61
0.56
247047
20272.42
21.16
FUTURES
FUTURES
INDEX
INDEX
72718.48
73279.00
(560.53)
1248696
94364.90
4.26
6014407
518255.00
29.85
OPTIONS
OPTIONS
STOCK
9451.85
9283.58
168.27
851690
57328.31
0.72
STOCK
FUTURES
702704
49305.86
6.23
FUTURES
STOCK
STOCK
7682.58
7785.64
(103.06)
169247
11426.04
0.91
557141
40322.48
-4.19
OPTIONS
OPTIONS
Total
91646.08
91932.05
(285.97)
2616631
189114.86
2.37
TOTAL
7521299
628155.76
24.55
Nifty Spot = 9765.55
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9800
66.15
Buy
9700
47.25
38.55
61.45
9838.55
20.90
79.10
9679.10
Sell
9900
27.60
Sell
9600
26.35
Buy
9800
66.15
Buy
9700
47.25
55.90
144.10
9855.90
32.75
167.25
9667.25
Sell
10000
10.25
Sell
9500
14.50
Buy
9900
27.60
Buy
9600
26.35
17.35
82.65
9917.35
11.85
88.15
9588.15
Sell
10000
10.25
Sell
9500
14.50
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
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Technical & Derivatives Report
August 23, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,756
1,773
1,789
1,805
1,821
ADANIPORTS
364
370
376
382
388
AMBUJACEM
268
271
274
276
279
ASIANPAINT
1,116
1,123
1,133
1,139
1,149
AUROPHARMA
684
690
699
705
715
AXISBANK
490
494
501
505
512
BAJAJ-AUTO
2,702
2,721
2,751
2,770
2,799
BANKBARODA
135
137
140
143
146
BPCL
486
498
506
518
525
BHARTIARTL
413
417
421
426
430
INFRATEL
379
384
390
394
400
BOSCHLTD
21,608
21,753
21,989
22,135
22,371
CIPLA
552
556
562
565
571
COALINDIA
236
238
241
243
245
DRREDDY
1,899
1,941
1,978
2,020
2,057
EICHERMOT
30,271
30,624
31,259
31,612
32,247
GAIL
370
374
377
381
384
HCLTECH
866
871
878
884
891
HDFCBANK
1,729
1,738
1,746
1,755
1,763
HDFC
1,729
1,740
1,748
1,759
1,767
HEROMOTOCO
3,805
3,847
3,922
3,964
4,039
HINDALCO
223
226
229
232
235
HINDUNILVR
1,179
1,189
1,198
1,209
1,218
IBULHSGFIN
1,142
1,159
1,182
1,200
1,223
ICICIBANK
289
292
294
297
300
IOC
408
416
423
430
437
INDUSINDBK
1,596
1,611
1,626
1,641
1,656
INFY
840
858
877
895
915
ITC
278
281
283
285
287
KOTAKBANK
960
966
972
977
983
LT
1,100
1,109
1,122
1,131
1,144
LUPIN
928
936
943
952
959
M&M
1,362
1,369
1,377
1,383
1,392
MARUTI
7,421
7,458
7,513
7,551
7,605
NTPC
163
165
170
172
176
ONGC
156
158
159
161
162
POWERGRID
216
218
220
222
224
RELIANCE
1,541
1,551
1,565
1,575
1,589
SBIN
268
271
274
277
280
SUNPHARMA
458
464
468
475
479
TCS
2,462
2,480
2,510
2,527
2,557
TATAMTRDVR
221
223
225
226
228
TATAMOTORS
368
371
375
378
383
TATAPOWER
79
79
80
81
82
TATASTEEL
606
613
621
628
637
TECHM
428
433
438
444
449
ULTRACEMCO
3,918
3,946
3,995
4,024
4,072
VEDANTA
287
290
295
298
303
WIPRO
287
288
291
293
295
YESBANK
1,664
1,689
1,710
1,735
1,756
ZEEL
508
512
515
519
522
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Technical & Derivatives Report
August 23, 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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