Technical & Derivatives Report
March 24, 2017
Sensex (29332) / Nifty (9086)
Exhibit 1: Nifty Daily Chart
We witnessed a gap up opening yesterday after US markets
taking some breather and importantly, the US Dollar index
maintaining its position below the 100 mark. The buying interest
was seen in the first and last hour of the session. As a result, the
Nifty managed to trim major portion of Wednesday’s losses to
end the session tad below the 9100 mark.
Yesterday, we saw some respite after last 3 days of corrective
move in the market. This was probably on cards as the market
entered a strong support zone due to some corrective action after
posting a new high of 9218.40 last Friday. With reference to
previous article, we were expecting 9020 - 8975 to provide a
strong support and very much on our expected lines, we
witnessed a decent bounce in the market. We continue to remain
upbeat on the market and would rather advise to utilize these dips
to create fresh longs instead of going short on the market. It’s
difficult to give a time-wise prediction; but price-wise, we reiterate
that the Nifty is likely to head towards 9400 - 9600 (price
extension of previous up move from recent low of 7893.80) over
the next few weeks. Traders waiting for dips to initiate fresh longs
post the UP election outcome should not get carried away by this
pessimism. The chart structure remains positive as long as 8850
remains unbroken on a closing basis.
Key Levels
Support 1 - 9020
Resistance 1 - 9145
Support 2 - 8975
Resistance 2 - 9200
Nifty Bank Outlook - (20895)
Exhibit 2: Nifty Bank Daily Chart
After a corrective move for three trading sessions, the Nifty Bank
index too pulled back higher from its support zone and ended
yesterday's session with gains of 0.55 percent.
As we had highlighted in our yesterday's report, the recent
correction just seem to be a corrective move of the uptrend and
since the index is trading near the support zone, traders should
use this as a buying opportunity. We continue to maintain our
positive stance on the index and advise traders to create long
positions as the risk reward is favorable for the same. The
intraday support for the Nifty Bank index is placed in the range of
20700 - 20750 whereas resistances are seen around 20967 and
21050.
Key Levels
Support 1 - 20700
Resistance 1 - 20967
Support 2 - 20534
Resistance 2 - 21050
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Technical & Derivatives Report
March 24, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.08%
BankNifty futures open interest has increased by 0.36%
as market closed at 9086.30 levels.
The Nifty March future closed with a premium of 21.35
points against the premium of 19.95 points in last
trading session. The April series closed at a premium of
49.55 points.
The Implied Volatility of at the money options has
decreased from 11.16% to 10.56%. At the same time,
the PCR-OI of Nifty has decreased from 1.07 to 1.01
levels.
The total OI of the market is Rs. 3,59,206/- cr. and the
stock futures OI is Rs. 99,831/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, GMRINFRA, KSCL, IDEA and
JISLJALEQS.
Views
OI Gainers
Yesterday, FIIs were net buyers in cash market segment
OI
PRICE
and index futures. They bought equities to the tune of
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Rs. 1094 crores. While, in index futures they bought
BHARATFIN
20065000
28.44
845.50
4.42
worth Rs. 101 crores with some rise in open interest,
PCJEWELLER
1230000
16.48
406.45
-2.81
indicating fresh long formation in previous trading
ICIL
8718500
15.54
197.20
0.36
session.
RELCAPITAL
11881500
15.03
613.25
3.39
In index options, FIIs were net buyers of Rs. 707 crores
CEATLTD
2342200
13.00
1324.60
2.88
with marginal change in open interest. In call options, we
YESBANK
9286900
10.06
1520.00
3.15
hardly saw any strike adding relevant positions.
TVSMOTOR
5936000
8.40
429.35
-0.89
However, some unwinding was seen in 9000-9200 call
IFCI
82368000
7.93
30.30
2.36
options. On the other hand, in put option, 9000 - 9100
strikes added some buildup. Highest open interest in
March series is placed at 9200 call and 8800 put
OI Losers
OI
PRICE
options.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Yesterday, as mentioned in the earlier report, market
HINDZINC
13705600
-10.79
292.90
0.22
bounced back from its strong support zone of 9000-
HDIL
26608000
-8.12
77.90
1.30
9050. FIIs continued poring liquidity in cash market
MARICO
5135000
-7.71
292.30
2.69
segment. While, in index futures mixed activity was
CAIRN
29764000
-6.98
300.00
2.42
witnessed in past few trading sessions; however, majority
JETAIRWAYS
5235000
-5.85
482.30
4.43
of the positions formed were on long side. Thus, looking
ACC
2057200
-5.15
1402.15
0.96
at the above data, we continue maintaining our bullish
BPCL
14232000
-5.00
650.40
0.79
stance on market and would suggest traders to avoid
NTPC
27308000
-4.56
163.35
1.55
shorting and employ dips to add on fresh longs.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TATAGLOBAL
40.87
NIFTY
1.05
0.92
YESBANK
30.88
BANKNIFTY
0.82
0.74
MCDOWELL-N
33.32
RELIANCE
0.61
0.45
LICHSGFIN
24.61
IDEA
0.30
0.19
MARICO
27.44
ICICIBANK
0.41
0.38
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Technical & Derivatives Report
March 24, 2017
FII Statistics for March 23, 2017
Turnover on March 23, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1758.55
1657.16
101.40
399104
27780.93
1.31
171844
12670.70
-22.79
FUTURES
FUTURES
INDEX
INDEX
37285.88
36579.13
706.75
1086957
75525.20
0.57
7769334
620765.17
45.80
OPTIONS
OPTIONS
STOCK
8771.99
9003.65
(231.65)
1106708
75186.06
0.18
STOCK
FUTURES
631073
47672.37
9.17
FUTURES
STOCK
STOCK
4882.03
4873.10
8.94
121069
8475.03
0.56
394322
30591.04
-2.40
OPTIONS
OPTIONS
TOTAL
52698.46
52113.03
585.43
2713838
186967.22
0.52
TOTAL
8966573
711699.29
37.61
Nifty Spot = 9086.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9100
55.70
Buy
9100
47.40
37.50
62.50
9137.50
29.50
70.50
9070.50
Sell
9200
18.20
Sell
9000
17.90
Buy
9100
55.70
Buy
9100
47.40
51.90
148.10
9151.90
41.30
158.70
9058.70
Sell
9300
3.80
Sell
8900
6.10
Buy
9200
18.20
Buy
9000
17.90
14.40
85.60
9214.40
11.80
88.20
8988.20
Sell
9300
3.80
Sell
8900
6.10
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 24, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,371
1,386
1,395
1,410
1,420
ADANIPORTS
320
323
325
328
330
AMBUJACEM
229
231
233
235
237
ASIANPAINT
1,046
1,054
1,062
1,070
1,078
AUROPHARMA
676
681
687
692
697
AXISBANK
479
484
488
493
497
BAJAJ-AUTO
2,836
2,851
2,863
2,878
2,890
BANKBARODA
159
161
162
164
165
BHEL
163
166
167
170
171
BPCL
642
649
654
661
666
BHARTIARTL
332
335
339
342
345
INFRATEL
310
312
314
316
319
BOSCH
22,609
22,796
22,936
23,123
23,264
CIPLA
576
586
592
602
608
COALINDIA
290
293
295
298
300
DRREDDY
2,605
2,618
2,633
2,646
2,661
EICHERMOT
23,791
24,082
24,362
24,653
24,933
GAIL
366
372
375
380
383
GRASIM
1,071
1,081
1,089
1,099
1,106
HCLTECH
864
870
875
881
886
HDFCBANK
1,418
1,424
1,430
1,436
1,442
HDFC
1,431
1,444
1,452
1,465
1,474
HEROMOTOCO
3,297
3,332
3,355
3,391
3,414
HINDALCO
191
193
194
195
196
HINDUNILVR
892
897
903
908
914
ICICIBANK
263
265
267
269
270
IDEA
90
91
92
92
93
INDUSINDBK
1,364
1,374
1,382
1,392
1,400
INFY
1,020
1,030
1,037
1,047
1,053
ITC
271
274
278
282
286
KOTAKBANK
856
862
868
874
879
LT
1,501
1,523
1,540
1,562
1,580
LUPIN
1,455
1,473
1,484
1,502
1,513
M&M
1,261
1,268
1,274
1,281
1,288
MARUTI
5,987
6,011
6,040
6,064
6,093
NTPC
160
162
163
166
167
ONGC
192
193
194
194
195
POWERGRID
191
192
193
194
195
RELIANCE
1,250
1,262
1,270
1,281
1,289
SBIN
266
267
268
270
271
SUNPHARMA
697
700
702
706
708
TCS
2,426
2,443
2,464
2,481
2,502
TATAMTRDVR
275
278
281
285
288
TATAMOTORS
455
464
470
480
486
TATAPOWER
86
87
87
88
88
TATASTEEL
484
490
493
499
502
TECHM
473
477
480
485
488
ULTRACEMCO
3,937
3,956
3,978
3,997
4,020
WIPRO
497
503
508
514
519
YESBANK
1,441
1,480
1,501
1,539
1,560
ZEEL
516
520
522
526
529
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Technical & Derivatives Report
March 24, 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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