Technical & Derivatives Report
August 24, 2017
Sensex (31568) / Nifty (9852)
Exhibit 1: Nifty Hourly Chart
Once again our markets opened higher on the back of
positive cues from the US bourses. Just like previous couple of
sessions, the index remained within a narrow range for the
major part of the day. However, a strong broad based buying
interest in the penultimate hour pushed the Nifty higher to
close at the highest point of the day to reclaim the 9850 mark.
If we summarize the overall price development in last couple
of weeks, it seems the index has now slipped into a
consolidation mode. Although, yesterday’s smart recovery in
the latter half was slightly unexpected for us, we would
continue with the cautious stance. The reason behind is if we
look at the hourly chart meticulously, it can be seen that the
Nifty has still given a pullback move towards the ‘Upward
sloping Trend Line’ level of 9855, which coincides with the ’89
EMA’. Hence, going ahead, we would be closely tracking this
key resistance zone of 9860 - 9885. On the flipside, 9820 -
9778 would now be considered as an intraday support zone.
Traders are advised not to get carried away by this bounce
back; as such moves in a consolidation phase can be
deceptive at times. At this juncture, a prudent strategy would
be to keep tracking above mentioned levels and following a
stock centric approach.
Key Levels
Support 1 - 9820
Resistance 1 - 9860
Support 2 - 9778
Resistance 2 - 9885
Nifty Bank Outlook - (24317)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index outperformed the broader indices
yesterday and traded with positive bias throughout the session
to end the day with gains of 1.43 percent over its previous
session's close.
If we observe the hourly chart, the Nifty Bank index has
consolidated in a broad range of 24530 to 23820 since last
ten trading sessions. This consolidation is seen as a time
correction wherein the short-term trend for the index still
continues to be negative. The higher end of the range i.e.
24500-24530 is a stiff resistance and thus traders can look to
create short positions near the mentioned range. Once this
consolidation is over, we expect another leg of correction in
the index which should breach the lower end of the range.
Key Levels
Support 1 - 24120
Resistance 1 - 24410
Support 2 - 24060
Resistance 2 - 24500
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August 24, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 2.11%
BankNifty futures open interest has decreased by 5.62%
as market closed at 9852.50 levels.
The Nifty August future closed with a premium of 9.80
points against the premium of 19.10 points in last
trading session. The September series closed at a
premium of 43.05 points.
The Implied Volatility of at the money options has
decreased from 12.40 to 10.52. At the same time, the
PCR-OI of Nifty has increased from 1.09 levels to 1.18.
Few of the liquid counters where we have seen high cost
of carry are JSWENERGY, SUZLON, GMRINFRA,
IBREALEST and FORTIS.
Views
FIIs were net sellers in both cash market segment and
index futures. They sold equities to the tune of Rs.1158
OI Gainers
crores. While, in index futures they were net buyers worth
OI
PRICE
SCRIP
OI
PRICE
Rs. 1128 crores with marginal change in open interest,
CHG. (%)
CHG. (%)
indicating blend of short formation and long unwinding
SIEMENS
636500
32.74
1255.15
-0.72
in previous trading session.
KAJARIACER
503200
23.82
651.20
1.77
In index options segment, they were net buyers of
CONCOR
1149375
18.57
1262.05
-1.16
Rs. 1158 crores with marginal change in open interest.
BALKRISIND
609200
17.88
1591.40
7.33
In call options, we hardly saw any strike adding relevant
INDIGO
1576200
11.27
1220.65
-0.99
positions; however good amount of unwinding was seen
BEML
2124600
9.83
1810.30
0.66
in 9800, 9950, 10000 and 10100 call options. On the
GSFC
16681500
8.61
136.25
4.53
flip side, decent amount of open interest addition was
CUMMINSIND
646200
8.35
883.65
-1.57
seen in
9800 and
9900 put options, followed by
unwinding in
9600,
9700 and
9200 strike price.
OI Losers
Maximum concentration of open interest remains intact
OI
PRICE
SCRIP
OI
PRICE
in 10000 call and 9800 put option.
CHG. (%)
CHG. (%)
FIIs continued curbing liquidity through cash market
CEATLTD
1727600
-8.90
1675.95
2.77
segment. Post past two day’s buying in index futures, they
UBL
862400
-8.81
804.60
-0.13
resumed to their selling streak seen for major part of
DLF
42525000
-7.95
185.85
5.21
August series. We believe, shorts formed in index futures
NIITTECH
1122000
-7.08
497.15
2.46
earlier are still intact. Thus, unless we don’t see any
LICHSGFIN
6473500
-6.91
661.55
3.76
relevant change in data, we continue maintaining our
AMARAJABAT
1497600
-5.49
769.90
1.20
negative stance on index. Traders are suggested to buy
CANBK
9748524
-5.36
337.40
3.09
puts on rise in index and exit their longs if any.
CHENNPETRO
1957500
-4.88
407.05
0.74
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
BALKRISIND
48.44
NIFTY
1.18
1.06
BAJFINANCE
45.57
BANKNIFTY
1.13
0.96
FORTIS
62.37
INFY
0.41
0.36
LICHSGFIN
30.84
SBIN
0.43
0.35
INDUSINDBK
19.16
RELIANCE
0.49
0.36
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Technical & Derivatives Report
August 24, 2017
FII Statistics for August 23, 2017
Turnover on August 23, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1264.44
2392.23
(1127.80)
345322
26082.98
(0.48)
235054
20040.07
-1.15
FUTURES
FUTURES
INDEX
INDEX
63136.48
61978.04
1158.44
1250494
95518.44
0.14
6808272
606826.68
17.09
OPTIONS
OPTIONS
STOCK
8623.78
8674.03
(50.25)
843763
57559.85
(0.93)
STOCK
FUTURES
688090
48545.70
-1.54
FUTURES
STOCK
STOCK
7071.55
6957.79
113.76
173904
11911.47
2.75
571719
40448.38
0.31
OPTIONS
OPTIONS
Total
80096.25
80002.09
94.16
2613483
191072.73
(0.12)
TOTAL
8303135
715860.83
13.96
Nifty Spot = 9852.50
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9900
41.60
Buy
9800
38.65
27.60
72.40
9927.60
19.55
80.45
9780.45
Sell
10000
14.00
Sell
9700
19.10
Buy
9900
41.60
Buy
9800
38.65
37.05
162.95
9937.05
29.00
171.00
9771.00
Sell
10100
4.55
Sell
9600
9.65
Buy
10000
14.00
Buy
9700
19.10
9.45
90.55
10009.45
9.45
90.55
9690.55
Sell
10100
4.55
Sell
9600
9.65
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 24, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,773
1,788
1,797
1,811
1,820
ADANIPORTS
375
380
383
388
391
AMBUJACEM
271
274
276
279
280
ASIANPAINT
1,103
1,122
1,133
1,153
1,164
AUROPHARMA
690
694
700
704
709
AXISBANK
497
500
503
506
509
BAJAJ-AUTO
2,698
2,727
2,748
2,776
2,798
BANKBARODA
137
139
141
143
144
BPCL
501
506
510
514
519
BHARTIARTL
420
426
430
436
440
INFRATEL
375
379
384
388
394
BOSCHLTD
21,561
21,722
21,960
22,121
22,359
CIPLA
552
556
560
564
569
COALINDIA
238
240
241
243
244
DRREDDY
1,963
1,997
2,025
2,059
2,088
EICHERMOT
29,678
30,163
30,697
31,182
31,715
GAIL
374
380
384
390
394
HCLTECH
855
868
875
888
895
HDFCBANK
1,739
1,756
1,767
1,784
1,795
HDFC
1,739
1,752
1,761
1,774
1,782
HEROMOTOCO
3,817
3,853
3,902
3,937
3,986
HINDALCO
224
227
229
233
235
HINDUNILVR
1,176
1,182
1,189
1,195
1,201
IBULHSGFIN
1,128
1,175
1,203
1,250
1,279
ICICIBANK
294
296
298
300
302
IOC
420
423
428
432
437
INDUSINDBK
1,614
1,638
1,651
1,675
1,688
INFY
860
877
890
906
920
ITC
279
281
283
285
287
KOTAKBANK
956
968
976
988
996
LT
1,108
1,116
1,122
1,131
1,137
LUPIN
933
945
952
963
971
M&M
1,356
1,365
1,376
1,385
1,396
MARUTI
7,466
7,519
7,555
7,608
7,644
NTPC
166
168
170
172
173
ONGC
158
159
160
161
161
POWERGRID
216
218
219
221
223
RELIANCE
1,541
1,561
1,574
1,595
1,607
SBIN
272
276
278
281
283
SUNPHARMA
463
466
471
474
479
TCS
2,449
2,469
2,493
2,513
2,537
TATAMTRDVR
223
225
226
228
229
TATAMOTORS
370
375
378
383
386
TATAPOWER
77
78
79
80
81
TATASTEEL
609
622
629
642
649
TECHM
417
424
434
440
451
ULTRACEMCO
3,904
3,928
3,957
3,981
4,010
VEDANTA
288
294
297
303
307
WIPRO
288
289
290
291
293
YESBANK
1,686
1,705
1,716
1,735
1,747
ZEEL
503
509
514
520
526
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Technical & Derivatives Report
August 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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