Technical & Derivatives Report
April 24, 2017
Sensex (29422) / Nifty (9119)
Exhibit 1: Nifty Daily Chart
It was yet another week of consolidation for our markets which
was quite evident after seeing some pause in the earlier week. At
present, the Nifty is trading around its strong support of ‘5 EMA’
(9121) on weekly chart, which coincides with the ‘200 EMA’
(9102) on hourly chart. In addition, the ‘Gap’ area of 9020 -
8975 is not so far now, which we believe is likely to provide a
decent support in the near term. Considering this cluster of
various support zones, we do not foresee any major downside in
the market. Further, the ‘RSI’ oscillator is approaching the
50
mark which is considered as a strong support and looking at
above technical evidences, we may expect a ‘Positive Reversal’
quite soon in the market.
Having said that traders should take into consideration a massive
relentless rally of nearly 1300 points in last four months and
hence, we are likely to see such in-between consolidation or
corrective phases in the market. It’s very difficult to make a time-
wise prediction once the market enters a consolidation phase;
but, we would like to reiterate that as far as higher degree
direction is concerned, it is strongly up and we are likely to see
new highs in the months to come. The immediate resistance for
the forthcoming week is seen around 9160 - 9200. Looking at
the ongoing price activity, it seems to be a daunting task
surpassing this hurdle in the forthcoming week; but, we me see a
strong surge once the index manages to do so on a closing basis.
Key Levels
Support 1 - 9102
Resistance 1 - 9160
Support 2 - 9060
Resistance 2 - 9200
Nifty Bank Outlook - (21551)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index traded in a narrow range on Friday and
ended the session with marginal gains of 0.28 percent.
During the week gone by, it was more of stock specific movement
within the components of the Nifty Bank index. The broader trend
for the index continues to remain positive and once the ongoing
consolidation phase is over, we expect the index to resume its
broader uptrend soon. However, during this consolidation phase,
we advise short term traders to focus on stock specific
opportunities and trade with proper risk management. The
intraday supports for the Nifty bank index are placed around
21400 and 21340 whereas resistances are seen around 21790
and 21940.
Key Levels
Support 1 - 21400
Resistance 1 - 21790
Support 2 - 21340
Resistance 2 - 21940
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Technical & Derivatives Report
April 24, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.16%
BankNifty futures open interest has increased by 1.11%
as market closed at 9119.40 levels.
The Nifty April future closed with a premium of 7.60
points against the premium of 26.20 points in last
trading session. The May series closed at a premium of
31.85 points.
The Implied Volatility of at the money options has
increased from 10.12% to 10.17%. At the same time, the
PCR-OI of Nifty has decreased from 1.11 to 1.07 levels.
The total OI of the market is Rs. 3,18,127/- cr. and the
stock futures OI is Rs. 1,04,157/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, BATAINDIA, BHARATFIN, PEL
and IFCI.
Views
On Friday, FIIs were net sellers in both cash market
OI Gainers
segment and index futures. They sold equities to the tune
OI
PRICE
of Rs. 978 crores. While, in index futures they were net
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
sellers worth Rs. 1238 crores with decent fall in open
DALMIABHA
1665900
172.74
2059.75
-1.51
interest, suggesting long unwinding took place in
MFSL
8029000
68.46
632.65
-3.01
previous trading session.
GMRINFRA
261000000
11.54
17.65
6.65
In index options, FIIs bought worth Rs. 512 crores with
HINDZINC
17833600
11.24
273.60
-3.29
rise in open interest. In call options, we witnessed good
PEL
334200
11.07
2364.00
3.85
amount of open interest addition in 9200 strike and it
ORIENTBANK
19272000
10.45
153.00
-0.26
appears to be long positions formed by retail
SAIL
87996000
9.76
60.60
-0.82
participants. On the flip side, we hardly saw any relevant
ICICIBANK
78065000
7.32
269.10
-1.81
open interest. However, good amount of unwinding was
visible in 9100 put options, due to which maximum open
OI Losers
interest in puts has been shifted back to the 9000 mark.
OI
PRICE
While, highest open interest in call options for April series
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
remains intact at 9200 strike.
INDIACEM
22368500
-16.12
188.85
-0.55
The corrective move seen (from 9286 levels) in past few
HDIL
21848000
-13.77
91.90
2.00
trading sessions was mainly due to long unwinding. We
JISLJALEQS
39951000
-9.74
111.85
-1.76
are hardly witnessing any relevant short formation in
IRB
18625000
-6.84
246.75
2.66
Index Futures. However, FIIs continue buying put options
RELCAPITAL
12648000
-6.62
610.20
-0.08
of current series. Thus, the overall options data suggests
EXIDEIND
16404000
-6.60
234.80
-1.76
9200 to act as a sturdy wall for the remaining part of the
TV18BRDCST
99433000
-6.16
42.10
2.93
current series. While 9000-9050 remains to be a strong
NTPC
22452000
-5.73
167.15
1.77
physiological support for the market.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
SOUTHBANK
40.35
NIFTY
1.07
0.94
ASHOKLEY
29.08
BANKNIFTY
0.92
1.03
HDFCBANK
18.23
RELIANCE
0.50
0.42
KPIT
23.83
INFY
0.38
0.33
CIPLA
15.65
SBIN
0.45
0.40
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Technical & Derivatives Report
April 24, 2017
FII Statistics for April 21, 2017
Turnover on April 21, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1777.69
3015.98
(1238.30)
303985
21496.98
(3.04)
241726
18056.29
38.42
FUTURES
FUTURES
INDEX
INDEX
25671.50
25159.08
512.43
988495
69169.31
1.85
4283415
321670.99
-49.15
OPTIONS
OPTIONS
STOCK
8372.96
8463.74
(90.78)
1162823
78450.00
(0.14)
STOCK
FUTURES
755043
58554.26
10.92
FUTURES
STOCK
STOCK
9345.54
9401.41
(55.87)
104675
7659.30
0.92
618763
50323.81
23.40
OPTIONS
OPTIONS
TOTAL
45167.68
46040.21
(872.52)
2559978
176775.60
0.31
TOTAL
5898947
448605.35
-39.31
Nifty Spot = 9119.40
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9100
59.85
Buy
9200
92.10
40.40
59.60
9140.40
54.50
45.50
9145.50
Sell
9200
19.45
Sell
9100
37.60
Buy
9100
59.85
Buy
9200
92.10
55.40
144.60
9155.40
78.35
121.65
9121.65
Sell
9300
4.45
Sell
9000
13.75
Buy
9200
19.45
Buy
9100
37.60
15.00
85.00
9215.00
23.85
76.15
9076.15
Sell
9300
4.45
Sell
9000
13.75
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 24, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,472
1,484
1,498
1,509
1,523
ADANIPORTS
318
322
328
333
339
AMBUJACEM
235
237
240
242
245
ASIANPAINT
1,046
1,056
1,064
1,073
1,081
AUROPHARMA
622
628
636
641
650
AXISBANK
475
481
489
494
503
BAJAJ-AUTO
2,799
2,811
2,827
2,840
2,856
BANKBARODA
171
173
177
179
182
BPCL
705
710
719
724
733
BHARTIARTL
337
340
343
346
349
INFRATEL
341
347
352
357
362
BOSCHLTD
22,117
22,262
22,476
22,620
22,834
CIPLA
556
560
567
571
578
COALINDIA
273
275
278
280
284
DRREDDY
2,589
2,599
2,617
2,627
2,645
EICHERMOT
25,359
25,485
25,651
25,777
25,943
GAIL
390
395
402
407
414
GRASIM
1,107
1,118
1,134
1,146
1,162
HCLTECH
800
807
814
820
828
HDFCBANK
1,437
1,467
1,483
1,513
1,529
HDFC
1,473
1,490
1,508
1,526
1,544
HEROMOTOCO
3,178
3,191
3,204
3,217
3,230
HINDALCO
182
185
188
191
194
HINDUNILVR
891
899
911
919
932
IBULHSGFIN
965
977
988
1,000
1,010
ICICIBANK
263
266
270
273
277
IOC
417
421
427
431
438
INDUSINDBK
1,422
1,429
1,437
1,443
1,451
INFY
913
918
927
932
940
ITC
267
271
276
280
286
KOTAKBANK
866
873
885
892
904
LT
1,668
1,678
1,690
1,699
1,711
LUPIN
1,390
1,399
1,415
1,424
1,440
M&M
1,243
1,251
1,263
1,270
1,282
MARUTI
6,101
6,144
6,219
6,262
6,337
NTPC
163
165
166
168
170
ONGC
178
179
181
182
183
POWERGRID
200
203
207
209
213
RELIANCE
1,358
1,380
1,401
1,423
1,443
SBIN
275
279
283
286
291
SUNPHARMA
622
631
645
654
668
TCS
2,281
2,296
2,316
2,331
2,350
TATAMTRDVR
267
269
271
273
275
TATAMOTORS
431
436
442
447
453
TATAPOWER
83
83
84
85
86
TATASTEEL
442
446
454
458
465
TECHM
418
423
427
432
437
ULTRACEMCO
3,921
3,950
3,992
4,021
4,063
WIPRO
472
482
493
502
513
YESBANK
1,505
1,525
1,544
1,563
1,582
ZEEL
520
524
531
535
542
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Technical & Derivatives Report
April 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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