Technical & Derivatives Report
April 24, 2018
Sensex (34451) / Nifty (10585)
Exhibit 1: Nifty Daily Chart
Despite Asian bourses trading with some sluggishness in the
morning; our markets kick started the trading week on a positive
note. The optimism extended as the day progressed and in the
process, the Nifty started trading well above the 10600 mark.
However, last half an hour of the day, did show some ominous
signs as we saw a sharp profit taking to pull the index
below 10600 on a closing basis.
Until last half an hour, things were looking extremely bright and
index did not show any sign of weakness. But, as always market
surprises us, the index saw some corrective moves precisely after
nearing the stiff hurdle of 10640. This is what we have been
mentioning since last few days and the level has clearly proved its
significance. Going ahead, traders needs to keep a close eye
whether Nifty is able to surpass this level or not? In case of
another unsuccessful attempt, we could see selling intensified in
the market. On the downside, 10495 remain to be a key support.
A sustainable move below this level would apply immediate
brakes on the recent relief rally. Till then the index may continue
gyrating within a range of 10495 - 10640.
Since last few days, clearly the ‘IT’ conglomerates have been on a
roll and in fact, the early morning lead was mainly propelled by
this heavyweight space. However, last hour profit taking in some
of the marquee names dragged the index lower below
the 10600 mark. Apart from this, another pocket that has caught
traders’ attention is ‘Pharma’. The close in some of its constituents
indicates continuation of yesterday’s move in coming days.
Key Levels
Support 1 - 10546
Resistance 1 - 10640
Support 2 - 10495
Resistance 2 - 10705
Nifty Bank Outlook - (24961)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index started trading for the week on a marginal
positive note. However, the index consolidated throughout the
session and eventually, it ended the day with negligible gains.
During later half of last week, we had witnessed some selling
pressure in the Nifty Bank index from 25400. In fact, if we
analyze the last couple of weeks move, it is observed that the
index has consolidated in a range, and there have been more
stock specific momentum in the sector. From a short-term
perspective, there are no clear signs of any directional move and
hence, traders should continue to trade with a stock-specific
approach and stay light in the index. The intraday supports for the
index are placed around 24840 and 24687 whereas resistances
are seen around 25156 and 25225.
Key Levels
Support 1 - 24840
Resistance 1 - 25156
Support 2 - 24687
Resistance 2 - 25225
www.angelbroking.com
Technical & Derivatives Report
April 24, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.61%
BankNifty futures open interest has increased by 4.81%
as market closed at 10584.70 levels.
The Nifty April future closed with a premium of 0.75
points against a premium of 21.45 points in last trading
session. The May series closed at a premium of 28.10
points.
The INDIA VIX has increased from 12.94 to 13.14. At the
same time, the PCR-OI of Nifty has increased from 1.62
to 1.64 level.
Few of the liquid counters where we have seen high cost
of carry are RCOM, M&MFIN, OFSS, BALRAMCHIN and
HCC.
Views
OI Gainers
FIIs were net sellers in cash market segment to the tune
OI
PRICE
of Rs. 259 crores. While, they bought worth Rs. 200
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
crores in index futures with decent rise in open interest,
CHOLAFIN
802000
49.49
1666.75
6.64
indicating blend of fresh long positions and short
OFSS
121350
24.27
4244.90
-1.36
covering in yesterday’s trading session.
NIITTECH
1878000
15.60
1035.70
4.51
In index options front, they were buyers of Rs. 177 crores
TATAELXSI
2224000
15.16
1203.30
5.18
with rise in open interest. As far as Nifty options activities
MINDTREE
4370400
14.10
1000.60
3.13
are concerned, 10650 and 10800 call options added
CADILAHC
7017600
12.38
398.95
3.67
some fresh positions; followed by decent unwinding in
IDFC
178992000
10.62
53.50
-0.56
10300-10600 strikes. On the flip side, we witnessed
SRTRANSFIN
3377400
10.22
1589.40
1.41
good amount of OI addition in
10500-10600 put
option; followed by meaningful unwinding in 10200-
10400 strikes. Maximum open interest concentration for
OI Losers
April series is placed at 10700 call and 10500 put
OI
PRICE
SCRIP
OI
PRICE
options.
CHG. (%)
CHG. (%)
In the recent rally, we witnessed decent amount of long
GLENMARK
5608800
-27.01
579.65
1.77
formation in Nifty futures. FIIs too participated by adding
ONGC
38298750
-21.83
181.05
-0.58
longs, resulting their ‘Long Short Ratio’ surging from 18%
CUMMINSIND
1925400
-14.40
735.55
-2.84
to 39%. From past few trading sessions, we are also
RELINFRA
9023300
-11.65
449.75
0.41
seeing writing in 10500-10600 put options, suggesting
INDIANB
3320000
-8.74
309.35
2.01
April series to expire above 10550-10600 levels. Thus,
TORNTPHARM
528500
-8.33
1401.00
0.18
any dips towards 10500-10550 shall be an opportunity
NMDC
29718000
-7.94
124.50
1.18
to buy At-The-Money call options for next 2-3 sessions.
HDIL
23427000
-7.92
39.30
-2.23
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
CHOLAFIN
40.84
NIFTY
1.64
1.13
BHARATFIN
27.69
BANKNIFTY
1.42
0.78
INDUSINDBK
24.88
INFY
0.88
0.38
PVR
33.63
ICICIBANK
1.02
0.92
CADILAHC
29.04
TATAMOTORS
0.31
0.30
www.angelbroking.com
Technical & Derivatives Report
April 24, 2018
FII Statistics for April 23, 2018
Turnover on April 23, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3385.89
3209.33
176.56
255589
21073.43
1.94
260612
22335.28
19.00
FUTURES
FUTURES
INDEX
INDEX
74105.34
74025.92
79.42
934493
76368.36
1.78
6084273
536029.48
27.27
OPTIONS
OPTIONS
STOCK
20012.66
20143.15
(130.49)
1121218
80940.78
0.08
STOCK
FUTURES
1338794
97905.72
37.34
FUTURES
STOCK
STOCK
12239.13
12402.07
(162.95)
120082
8631.63
2.61
1018256
81387.64
6.88
OPTIONS
OPTIONS
Total
109743.02
109780.47
(37.45)
2431382
187014.21
1.04
TOTAL
8701935
737658.12
25.58
Nifty Spot = 10584.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10600
34.65
Buy
10600
52.05
28.05
71.95
10628.05
32.05
67.95
10567.95
Sell
10700
6.60
Sell
10500
20.00
Buy
10600
34.65
Buy
10600
52.05
33.20
166.80
10633.20
43.75
156.25
10556.25
Sell
10800
1.45
Sell
10400
8.30
Buy
10700
6.60
Buy
10500
20.00
5.15
94.85
10705.15
11.70
88.30
10488.30
Sell
10800
1.45
Sell
10400
8.30
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
www.angelbroking.com
Technical & Derivatives Report
April 24, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
370
378
384
392
398
ASIANPAINT
1,133
1,156
1,169
1,192
1,205
AXISBANK
495
500
506
512
517
BAJAJ-AUTO
2,791
2,821
2,851
2,881
2,911
BAJFINANCE
1,834
1,867
1,893
1,926
1,952
BAJAJFINSV
5,208
5,251
5,300
5,343
5,392
BPCL
368
375
380
387
392
BHARTIARTL
392
398
402
407
412
INFRATEL
320
324
328
332
336
CIPLA
567
584
593
609
618
COALINDIA
287
288
290
292
294
DRREDDY
2,077
2,106
2,124
2,153
2,171
EICHERMOT
30,755
30,910
31,155
31,310
31,555
GAIL
324
328
332
336
340
GRASIM
1,067
1,076
1,091
1,100
1,115
HCLTECH
1,031
1,059
1,084
1,112
1,137
HDFCBANK
1,806
1,871
1,925
1,990
2,044
HDFC
1,816
1,823
1,836
1,844
1,857
HEROMOTOCO
3,670
3,694
3,715
3,739
3,760
HINDALCO
248
252
258
262
269
HINDPETRO
298
301
305
308
312
HINDUNILVR
1,437
1,445
1,458
1,466
1,479
IBULHSGFIN
1,265
1,293
1,340
1,368
1,415
ICICIBANK
272
276
279
283
287
IOC
158
160
162
164
166
INDUSINDBK
1,780
1,827
1,856
1,904
1,933
INFY
1,127
1,157
1,186
1,216
1,245
ITC
274
275
276
277
278
KOTAKBANK
1,143
1,156
1,166
1,180
1,190
LT
1,342
1,351
1,365
1,374
1,387
LUPIN
789
800
809
821
830
M&M
786
805
819
839
853
MARUTI
8,946
9,006
9,065
9,125
9,184
NTPC
172
173
174
175
176
ONGC
177
179
181
183
186
POWERGRID
204
205
207
208
209
RELIANCE
920
928
936
944
952
SBIN
237
240
242
245
248
SUNPHARMA
501
508
512
518
522
TCS
3,284
3,346
3,452
3,515
3,620
TATAMOTORS
329
332
336
338
342
TATASTEEL
595
601
606
612
617
TECHM
668
685
707
724
746
TITAN
937
950
962
975
986
ULTRACEMCO
4,036
4,090
4,126
4,180
4,217
UPL
737
746
760
768
783
VEDANTA
299
302
307
310
314
WIPRO
290
294
297
301
305
YESBANK
305
309
313
317
321
ZEEL
581
588
595
602
609
www.angelbroking.com
Technical & Derivatives Report
April 24, 2018
Research Team Tel: 022 - 39357800
Website: www.angelbroking.com
For Technical Queries
E-mail: [email protected]
For Derivatives Queries
E-mail: [email protected]
DISCLAIMER
Angel Broking Private Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Private Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide
registration number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory
authority for accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or
co-managed public offering of securities of the c*ompany covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Pvt. Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Pvt. Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Pvt. Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel Broking Pvt. Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from
or in connection with the use of this information.
www.angelbroking.com