Technical & Derivatives Report
April 25, 2017
Sensex (29656) / Nifty (9218)
Exhibit 1: Nifty Daily Chart
Finally, after few days of pain, the bulls had something to cheer
for. The benchmark index opened slightly higher in-line with other
Asian peers and then went on to give a vertical rally throughout
the remaining part of the day to conclude the session almost at
the highest point of the day with more than a percent gains.
As stated in the previous articles, 9120 - 9100 provided a strong
support for our market and clearly, the ‘RSI’ oscillator which was
poised for a bounce back from the 50 mark provided impetus for
yesterday’s optimism. Looking at last week’s price action, 9200
seemed to be a stiff hurdle at least in the expiry week; but, market
has given full justice to a famous quote ‘Trend is your friend’. On
the opening day of the week, this resistance has been violated
convincingly; bringing strong interest back into the market. We
would stick to our directional optimistic stance on the market and
expect the stock to continue this northward rally towards 9247 -
9274 in coming days. Technically speaking, the Nifty has
confirmed a breakout from the ‘Trend Line’ resistance of 9200 on
hourly chart, which certainly augurs well for the market. Going
ahead, 9184 - 9160 are likely to provide a decent support for the
index.
Key Levels
Support 1 - 9184
Resistance 1 - 9247
Support 2 - 9160
Resistance 2 - 9274
Nifty Bank Outlook - (21857)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index opened on a positive note and continued the
positive momentum throughout the session. The index managed
to end the session with gains of 1.42 percent over its previous
sessions close.
The Nifty Bank index resumed the broader degree uptrend and
ended the session at a record closing high, led by the index
heavyweights. The index had recently formed a 'Shooting Star'
pattern on 18th April, which is a trend reversal pattern. However,
looking at the broader uptrend and the resumption of the positive
momentum from the '20 DEMA' support, we expect the index to to
surpass the recent high of 21947, which would then negate the
bearish 'Shooting Star' pattern. Hence, we continue with our
optimistic stance on the index and advise traders to trade with
positive bias. The index should continue the optimism towards the
target of 22410, which is the 161.8% retracement of the previous
corrective move. The stop loss on exiting long positions in the
index can now be trailed higher to 21380. The intraday supports
for the Nifty Bank index are placed around 21680 and 21580
whereas resistances are seen around 21950 and 22100.
Key Levels
Support 1 - 21680
Resistance 1 - 21950
Support 2 - 21580
Resistance 2 - 22100
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Technical & Derivatives Report
April 25, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 7.84%
BankNifty futures open interest has increased by 15.78%
as market closed at 9217.95 levels.
The Nifty April future closed with a premium of 6.50
points against the premium of 7.60 points in last trading
session. The May series closed at a premium of 33.70
points.
The Implied Volatility of at the money options has
increased from 10.17% to 11.32%. At the same time, the
PCR-OI of Nifty has increased from 1.07 to 1.20 levels.
The total OI of the market is Rs. 3,36,457/- cr. and the
stock futures OI is Rs. 1,11,185/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, BHARATFIN, JPASSOCIAT,
NHPC and PEL.
Views
Yesterday, FIIs were net sellers in cash market segment;
OI Gainers
they sold equities to the tune of Rs. 978 crores. While, in
OI
PRICE
index futures they were net buyers worth Rs. 403 crores
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
with good amount of rise in open interest, suggesting
IBREALEST
28920000
67.26
153.35
6.79
blend of long and some short formation in previous
INDIANB
2136000
53.89
286.60
9.72
trading session.
HDIL
31448000
43.94
94.40
2.72
In index options, FIIs bought worth Rs. 745 crores with
ACC
2365200
32.02
1612.50
7.99
fall in open interest. In call options, we hardly saw any
SHREECEM
31000
25.76
18687.95
5.97
strike adding relevant open interest. However, huge
BIOCON
3890400
24.07
1069.05
-2.32
amount of unwinding was visible in 9100 and 9200 call
BHARATFORG
5022600
22.98
1133.35
5.14
options, which is a positive indication. On the flip side,
NHPC
27621000
21.79
32.00
0.31
9100-9200 strikes added significant positions and we
believe this is writing which took place. Maximum open
OI Losers
interest for April series remains intact at 9200 call option
OI
PRICE
and of puts has again shifted to 9100 from 9000 strike.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Yesterday, market rebounded and closed above the
DLF
32725000
-16.30
190.35
3.82
immediate hurdle of 9200 mark. We witnessed stronger
TORNTPOWER
4113000
-14.84
232.35
5.40
hands forming fresh longs in Index and Stock Futures.
ORIENTBANK
16974000
-11.92
153.70
0.46
While, they also unwounded decent amount of puts
DALMIABHA
1547100
-7.13
2114.45
2.66
bought during last couple of days. Thus, we believe
RCOM
127128000
-6.77
34.35
1.63
market may continue its momentum for near term.
CAPF
928000
-5.77
774.55
0.33
Hence, traders are suggested to buy 9200 call at dips to
JISLJALEQS
37755000
-5.50
110.95
-0.80
trade for April expiry.
JINDALSTEL
42552000
-4.41
114.15
1.60
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
ACC
40.93
NIFTY
1.20
1.12
SHREECEM
33.71
BANKNIFTY
1.23
0.99
AJANTPHARM
27.49
RELIANCE
0.47
0.40
ULTRACEMCO
26.44
INFY
0.40
0.43
INDIANB
58.33
SBIN
0.46
0.29
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Technical & Derivatives Report
April 25, 2017
FII Statistics for April 24, 2017
Turnover on April 24, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
6059.07
5655.68
403.39
337971
24211.66
11.18
337518
24988.26
38.39
FUTURES
FUTURES
INDEX
INDEX
44208.23
43463.30
744.93
965741
68092.85
(2.30)
5370465
404386.45
25.71
OPTIONS
OPTIONS
STOCK
23065.61
21861.57
1204.04
1264766
86319.04
8.77
STOCK
FUTURES
1219772
89854.68
53.46
FUTURES
STOCK
STOCK
8217.01
8356.72
(139.71)
105293
7810.13
0.59
597377
46782.70
-7.04
OPTIONS
OPTIONS
TOTAL
81549.92
79337.27
2212.66
2673771
186433.68
4.45
TOTAL
7525132
566012.09
26.17
Nifty Spot = 9217.95
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9200
50.90
Buy
9200
30.20
40.90
59.10
9240.90
19.15
80.85
9180.85
Sell
9300
10.00
Sell
9100
11.05
Buy
9200
50.90
Buy
9200
30.20
49.80
150.20
9249.80
25.20
174.80
9174.80
Sell
9400
1.10
Sell
9000
5.00
Buy
9300
10.00
Buy
9100
11.05
8.90
91.10
9308.90
6.05
93.95
9093.95
Sell
9400
1.10
Sell
9000
5.00
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 25, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,477
1,542
1,579
1,644
1,681
ADANIPORTS
324
327
331
334
338
AMBUJACEM
236
241
246
251
255
ASIANPAINT
1,059
1,064
1,069
1,075
1,080
AUROPHARMA
621
624
629
633
638
AXISBANK
472
485
494
508
517
BAJAJ-AUTO
2,789
2,828
2,850
2,889
2,911
BANKBARODA
174
177
178
180
182
BPCL
700
707
714
721
728
BHARTIARTL
335
340
343
348
351
INFRATEL
345
352
356
362
366
BOSCHLTD
22,327
22,404
22,477
22,554
22,627
CIPLA
547
552
559
564
570
COALINDIA
274
276
278
279
281
DRREDDY
2,573
2,593
2,610
2,630
2,647
EICHERMOT
25,187
25,640
25,920
26,373
26,653
GAIL
394
403
409
418
424
GRASIM
1,103
1,141
1,166
1,205
1,229
HCLTECH
803
811
818
826
832
HDFCBANK
1,481
1,507
1,523
1,549
1,565
HDFC
1,494
1,513
1,526
1,544
1,557
HEROMOTOCO
3,171
3,188
3,203
3,219
3,234
HINDALCO
185
188
190
193
194
HINDUNILVR
893
899
904
910
916
IBULHSGFIN
979
993
1,004
1,018
1,029
ICICIBANK
262
265
268
272
275
IOC
412
417
422
427
432
INDUSINDBK
1,424
1,429
1,436
1,441
1,448
INFY
907
917
923
932
938
ITC
269
273
275
279
282
KOTAKBANK
868
882
890
904
912
LT
1,675
1,704
1,720
1,749
1,765
LUPIN
1,325
1,343
1,374
1,392
1,423
M&M
1,252
1,258
1,265
1,271
1,277
MARUTI
6,149
6,234
6,284
6,369
6,419
NTPC
164
165
167
168
170
ONGC
180
181
181
182
183
POWERGRID
202
204
205
207
208
RELIANCE
1,383
1,400
1,418
1,435
1,452
SBIN
278
282
285
289
292
SUNPHARMA
627
635
640
648
653
TCS
2,260
2,294
2,317
2,351
2,374
TATAMTRDVR
267
269
271
273
275
TATAMOTORS
434
439
444
449
454
TATAPOWER
83
85
86
87
88
TATASTEEL
443
447
451
455
458
TECHM
421
425
428
432
435
ULTRACEMCO
3,898
4,020
4,114
4,236
4,331
WIPRO
480
486
490
496
501
YESBANK
1,527
1,541
1,557
1,571
1,587
ZEEL
516
521
526
530
535
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Technical & Derivatives Report
April 25, 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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