Technical & Derivatives Report
January 25, 2018
Sensex (36162) / Nifty (11086)
Exhibit 1: Nifty Daily Chart
Finally, after few days of relentless run, our markets chose to
catch some breath. This was mainly on the back of muted global
cues and Brent Crude again inching closer to the $70 mark.
During the day, the Nifty remained in a small band of nearly half
a percent and eventually ended tad above previous day’s close.
The Nifty showed some respite after adding 300 points in three
straight sessions and more importantly, after reaching the near
term junction of 11100 (161% price extension of the rally seen
during 2008 - 10). Of late, there has been not much respect to
any level but since 161% is considered as an important ratio as
per the ‘Fibonacci series’ and mainly because the major event is
around the corner now, it’s important to highlight this point. It
would be important to see how market behaves in next 4 - 5
trading sessions and today being the January series expiry,
traders would keep a close watch on the trading range of 11100
- 11000. As far as trading strategy for next few days is
concerned, we reiterate that traders should look to take some
money off the table ahead of the major event. Yes, there could be
some stock specific moves seen during this period. One can keep
focusing on such propositions with a proper exit strategy. Even
yesterday also there were some noteworthy moves from individual
stocks amongst which the PSU banking basket clearly stands out.
At the same times, some decent profit booking was seen in the
broader market and hence, one needs to be very selective as it
would now be a daunting task to find a good trade set up.
Key Levels
Support 1 - 11000
Resistance 1 - 11100
Support 2 - 10994
Resistance 2 - 11125
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (27399)
Yesterday, Nifty Bank Index traded in a narrow range and ended
flat with negligible gain tad near 27400 levels. It was a breather
day for the Bank Index as the lead indicators are in the deep
overbought territory. However, the stocks within the sector were
quite active yesterday as the PSU Banks continued their positive
momentum from the previous session as the PSU Bank index
ended with gains of 3.49%. Being an F&O expiry session today,
we may continue to see stock-specific momentum in today's
session too. As far as the Bank Index is concerned it may see
another sideways session with resistance placed around 27540-
27620 whereas support placed around 27160-27030.
Key Levels
Support 1 - 27160
Resistance 1 - 27540
Support 2 - 27030
Resistance 2 - 27620
www.angelbroking.com
Technical & Derivatives Report
January 25, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 1.93%
BankNifty futures open interest has increased by 3.31%
as market closed at 11086 levels.
The Nifty January future closed with a discount of 2.80
points against a premium of 1.75 points in last trading
session. The February series closed at a premium of
19.40 points.
The INDIA VIX has increased from 16.23 to 18.04. At the
same time, the PCR-OI of Nifty has decreased from 1.89
to 1.81 level.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, IDBI, INDIGO, GAIL and
SHREECEM.
Views
FIIs continue their buying streak in cash market segment,
OI Gainers
they bought to the tune of Rs. 776 crores. While, they
OI
PRICE
were buyers of Rs. 1258 crores in index futures with good
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
amount of rise in OI, indicating formation of long
OFSS
148800
24.31
4287.40
1.26
positions in previous trading session.
M&MFIN
8617500
23.79
490.35
-3.63
On options front, they were net sellers of Rs. 1113 crores
AMARAJABAT
2370900
20.02
875.60
6.89
with marginal change in OI. In call options,
MCDOWELL-N
2469250
15.06
3487.85
-6.72
we saw decent OI addition in 11100-11400 strikes
BHARTIARTL
53536400
14.30
459.50
-6.66
(except for 11200 wherein we saw some unwinding).
SYNDIBANK
29943000
14.13
82.30
2.23
While,
11000-11100 puts continued adding fresh
FORTIS
52993500
13.69
153.85
2.56
positions; followed by unwinding in OTM strikes 10200-
IDEA
68446000
13.62
93.90
-5.33
10950. Maximum concentration of OI for January series
is placed at 11200 call and 10500 put option.
As far as FIIs activities are concerned, we witnessed
OI Losers
mixed position in index futures throughout January
OI
PRICE
SCRIP
OI
PRICE
series. However, majority of the positions formed were
CHG. (%)
CHG. (%)
on the short side, resulting their Index Futures ‘Long
ICIL
4710000
-19.97
111.15
-4.39
Short Ratio’ declining below 50% after quite some time.
JSWENERGY
24225000
-17.15
89.55
-1.10
At the same time, they have been forming positive bets in
DHFL
25596000
-14.65
578.85
-5.92
other F&O space by adding good amount of long
JINDALSTEL
28089000
-13.41
276.50
-5.22
positions in stock futures and index call options along
ESCORTS
2783000
-13.33
822.75
1.60
with writing in index put options. After consistent selling
TATAPOWER
76338000
-11.68
91.80
-0.60
for last five series, FIIs have been pouring liquidity
VGUARD
3558000
-10.02
232.85
-2.54
through cash market segment in current series with a net
JETAIRWAYS
5896800
-9.85
774.35
-2.71
buying of Rs. 7805 crores. Considering above data
points, we would advise traders avoiding any bearish
bets unless we see meaningful change in F&O data.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.81
1.11
AMARAJABAT
40.46
BANKNIFTY
1.43
0.82
BHARTIARTL
44.72
RELIANCE
0.51
0.42
HEXAWARE
44.78
INFY
1.07
0.31
MCDOWELL-N
48.46
TATAMOTORS
0.36
0.55
NIITTECH
64.20
www.angelbroking.com
Technical & Derivatives Report
January 25, 2018
FII Statistics for January 24, 2018
Turnover on January 24, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
6470.43
5212.55
1257.89
356941
30687.75
7.64
373626
34307.82
3.70
FUTURES
FUTURES
INDEX
INDEX
106027.09
107140.29
(1113.20)
1049165
90437.46
(0.70)
8196533
765147.78
1.50
OPTIONS
OPTIONS
STOCK
38641.10
39288.49
(647.39)
1047528
80474.33
2.74
STOCK
FUTURES
2103514
161966.82
21.49
FUTURES
STOCK
STOCK
9716.41
9645.56
70.86
130723
10519.67
3.09
984700
79982.51
1.60
OPTIONS
OPTIONS
Total
160855.03
161286.88
(431.84)
2584357
212119.21
1.96
TOTAL
11658373
1041404.92
4.25
Nifty Spot = 11086
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
11100
27.15
Buy
11100
42.30
22.35
77.65
11122.35
30.15
69.85
11069.85
Sell
11200
4.80
Sell
11000
12.15
Buy
11100
27.15
Buy
11100
42.30
25.50
174.50
11125.50
37.90
162.10
11062.10
Sell
11300
1.65
Sell
10900
4.40
Buy
11200
4.80
Buy
11000
12.15
3.15
96.85
11203.15
7.75
92.25
10992.25
Sell
11300
1.65
Sell
10900
4.40
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
January 25, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
420
434
443
458
467
AMBUJACEM
256
258
262
264
268
ASIANPAINT
1,129
1,140
1,156
1,167
1,183
AUROPHARMA
641
650
656
665
672
AXISBANK
596
602
612
618
628
BAJAJ-AUTO
3,250
3,296
3,323
3,369
3,396
BAJFINANCE
1,678
1,709
1,728
1,758
1,777
BPCL
469
475
479
484
488
BHARTIARTL
435
447
467
479
499
INFRATEL
335
339
342
346
350
BOSCHLTD
19,611
19,671
19,760
19,819
19,909
CIPLA
607
613
618
624
629
COALINDIA
282
288
293
300
305
DRREDDY
2,474
2,517
2,566
2,609
2,658
EICHERMOT
25,838
26,121
26,585
26,869
27,333
GAIL
460
473
483
496
507
HCLTECH
968
993
1,017
1,042
1,066
HDFCBANK
1,941
1,949
1,959
1,968
1,977
HDFC
1,864
1,888
1,904
1,927
1,943
HEROMOTOCO
3,582
3,614
3,632
3,664
3,682
HINDALCO
252
256
260
263
268
HINDPETRO
378
384
391
396
403
HINDUNILVR
1,321
1,343
1,358
1,380
1,395
IBULHSGFIN
1,320
1,341
1,375
1,396
1,431
ICICIBANK
347
350
355
357
362
IOC
385
388
390
393
395
INDUSINDBK
1,687
1,702
1,720
1,736
1,754
INFY
1,138
1,162
1,191
1,215
1,245
ITC
274
278
280
284
286
KOTAKBANK
1,065
1,073
1,078
1,086
1,091
LT
1,380
1,391
1,400
1,411
1,420
LUPIN
923
941
951
970
980
M&M
741
748
760
767
778
MARUTI
9,252
9,344
9,432
9,523
9,611
NTPC
170
172
173
175
177
ONGC
206
209
210
213
214
POWERGRID
194
195
196
197
198
RELIANCE
951
959
970
978
989
SBIN
311
320
326
336
341
SUNPHARMA
565
576
586
597
607
TCS
2,996
3,085
3,172
3,262
3,349
TATAMOTORS
394
399
408
412
421
TATASTEEL
743
753
767
776
790
TECHM
572
587
600
616
628
ULTRACEMCO
4,215
4,249
4,309
4,343
4,403
UPL
793
809
819
834
844
VEDANTA
332
336
342
346
351
WIPRO
305
310
317
321
328
YESBANK
352
358
362
369
373
ZEEL
580
592
601
613
623
www.angelbroking.com
Technical & Derivatives Report
January 25, 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