Technical & Derivatives Report
March 26, 2018
Sensex (32597) / Nifty (9998)
Exhibit 1: Nifty Daily Chart
On Friday, mounting concern on ‘Trade War’ between the US
and the China started looming over rest of the world. This
clearly spooked traders’ community across the globe, resulting
into massive sell off in the equity bourses. We were no
exception to this and hence, our benchmarks continued the
southward momentum and even breached the important
psychological mark of 10000 with a massive gap.
As far as direction is concerned, it’s no brainer; we remain in
a ‘Sell on rise’ kind of market. But, since we are heading into
the truncated expiry week, the ‘Expiry Factor’ will come into
picture. For the week, the gap area of 10060 - 10110 would
be seen as strong hurdle. In case of a bounce back, any
attempt towards this resistance zone is likely to get sold into.
On the lower side, at least for this expiry, 9950 - 9900 would
be seen as a crucial support area. But, if we have to take
slightly broader view then we would expect lower levels of
9800 - 9700, which have been our target levels ever since we
got trend reversal in the ‘Budget Week’.
For the week, traders are advised to keep a note of these key
levels and should rather remain light on positions. During the
week, we may see good trading opportunities in individual
stocks and hence, one should keep focusing on such
propositions.
Key Levels
Support 1 - 9950
Resistance 1 - 10060
Support 2 - 9900
Resistance 2 - 10110
Nifty Bank Outlook - (23670)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index too opened gap down on Friday and
breached the support of
24050. In fact, the
38.2%
retracement zone of 23800-23850 which we have been
recently mentioning about was achieved in the opening ticks
itself.
So far, the 'Lower Top Lower Bottom' structure indicates a
continuation of the downward momentum and Friday's gap
would now become a resistance zone for the near-term. In line
with this market momentum, we continue with our cautious
approach in this sector. The intraday supports for the Nifty
Bank index are placed around 23600 and 23500 whereas the
earlier support of 24050 now becomes a resistance.
Key Levels
Support 1 - 23600
Resistance 1 - 23900
Support 2 - 23500
Resistance 2 - 24050
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Technical & Derivatives Report
March 26, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.67%
BankNifty futures open interest has decreased by 2.63%
as market closed at 9998.05 levels.
The Nifty February future closed with a premium of 5.85
points against a premium of 13.10 points in last trading
session. The April series closed at a premium of 49.55
points.
The INDIA VIX has increased from 15.25 to 15.54. At the
same time, the PCR-OI of Nifty has decreased from 1.06
to 1.04 level.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, TV18BRDCST, SUZLON,
RCOM and CHENNPETRO.
Views
FIIs continued their buying streak in cash market segment
OI Gainers
to the tune of Rs. 1628 crores. At the same time, they
OI
PRICE
sold worth Rs. 2010 crores in index futures with some fall
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
in open interest, indicating blend of long unwinding and
GAIL
15960000
16.43
439.60
-0.13
fresh short formation in previous trading session.
INDUSINDBK
6807000
10.54
1749.50
-0.31
In index options front, they were net buyers of Rs. 158
IGL
5247000
9.72
282.00
-3.20
crores with good amount of rise in open interest. As far
SAIL
100788000
8.80
68.70
-6.89
as Nifty options activities are concerned, we saw open
PCJEWELLER
7660500
7.77
327.90
-4.07
interest addition in 10000 and 10100 call options along
CHOLAFIN
450000
5.39
1389.00
-2.98
with some unwinding in 10500 strike. On the flip side,
SOUTHBANK
169317369
5.12
22.60
-3.21
9900 put option added good amount of positions;
DHFL
26392500
4.87
495.15
-4.68
followed by unwinding in 10100 and 10200 strikes.
Maximum open interest concentration is still firmly placed
in 10500 call and 10000 put options.
OI Losers
Post some consolidation, the benchmark index finally
OI
PRICE
corrected below 10000 mark last week. We also
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
witnessed some fresh short formation in index futures
AMBUJACEM
16367500
-29.11
227.20
-0.50
segment. Meanwhile, FIIs Index futures ‘Long Short
JETAIRWAYS
6380400
-13.40
620.05
-3.28
Ratio’ also plunged from 47% to 37%, they continued
KAJARIACER
1434400
-12.32
564.45
-0.12
adding bearish bets in index futures. Although, index
CONCOR
1123125
-9.06
1210.30
2.14
has breached the important support zone of
PIDILITIND
1193000
-8.93
902.20
-0.68
10000-10050, we could hardly see any relevant
MFSL
2934000
-8.28
447.05
1.99
unwinding. In case, in next three trading session we
TVSMOTOR
4041000
-8.26
606.35
-0.18
see meaningful unwinding in 10000 puts, market may
MINDTREE
2121600
-8.11
782.75
1.00
attract further selling otherwise will conclude March
expiry above 10000 mark.
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.04
0.79
UNIONBANK
66.87
BANKNIFTY
0.94
0.69
VEDL
42.15
SUNPHARMA
0.37
0.49
HINDALCO
40.60
PNB
0.76
0.69
SYNDIBANK
67.67
SBIN
0.43
0.45
YESBANK
35.36
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Technical & Derivatives Report
March 26, 2018
FII Statistics for March 23, 2018
Turnover on March 23, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2954.32
4964.45
(2010.13)
302717
23391.79
(1.17)
364136
29589.30
19.64
FUTURES
FUTURES
INDEX
INDEX
90229.86
90071.96
157.91
953627
73362.84
2.34
7777630
640306.02
-48.75
OPTIONS
OPTIONS
STOCK
16320.86
16560.30
(239.44)
1112255
75065.74
(0.10)
STOCK
FUTURES
1041421
68918.25
29.93
FUTURES
STOCK
STOCK
7134.78
7033.16
101.62
117131
7917.14
3.11
655651
45890.27
19.64
OPTIONS
OPTIONS
Total
116639.82
118629.86
(1990.04)
2485730
179737.53
0.84
TOTAL
9838838
784703.84
-42.53
Nifty Spot = 9998.05
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10000
67.75
Buy
10000
68.00
38.00
62.00
10038.00
33.35
66.65
9966.65
Sell
10100
29.75
Sell
9900
34.65
Buy
10000
67.75
Buy
10000
68.00
56.15
143.85
10056.15
50.40
149.60
9949.60
Sell
10200
11.60
Sell
9800
17.60
Buy
10100
29.75
Buy
9900
34.65
18.15
81.85
10118.15
17.05
82.95
9882.95
Sell
10200
11.60
Sell
9800
17.60
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
March 26, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
343
353
360
369
377
AMBUJACEM
221
224
226
229
231
ASIANPAINT
1,082
1,097
1,109
1,124
1,136
AUROPHARMA
540
546
550
556
560
AXISBANK
488
494
502
508
516
BAJAJ-AUTO
2,712
2,751
2,784
2,823
2,856
BAJFINANCE
1,638
1,662
1,678
1,702
1,718
BPCL
401
407
412
419
424
BHARTIARTL
399
406
412
419
426
INFRATEL
323
333
339
349
355
BOSCHLTD
16,768
17,065
17,272
17,569
17,776
CIPLA
531
535
538
541
544
COALINDIA
262
266
269
273
276
DRREDDY
2,036
2,054
2,078
2,096
2,120
EICHERMOT
27,074
27,485
27,750
28,161
28,426
GAIL
424
432
437
445
450
HCLTECH
884
920
941
977
998
HDFCBANK
1,828
1,835
1,844
1,851
1,860
HDFC
1,765
1,777
1,788
1,801
1,812
HEROMOTOCO
3,329
3,372
3,403
3,446
3,477
HINDALCO
201
203
207
210
213
HINDPETRO
329
334
338
343
347
HINDUNILVR
1,270
1,286
1,300
1,316
1,330
IBULHSGFIN
1,174
1,187
1,198
1,211
1,222
ICICIBANK
271
273
276
278
280
IOC
163
166
168
171
173
INDUSINDBK
1,712
1,731
1,744
1,763
1,776
INFY
1,130
1,149
1,161
1,180
1,193
ITC
252
254
257
258
261
KOTAKBANK
1,020
1,029
1,038
1,048
1,056
LT
1,249
1,259
1,271
1,280
1,293
LUPIN
718
726
740
748
761
M&M
714
724
730
740
747
MARUTI
8,498
8,553
8,597
8,651
8,695
NTPC
167
168
170
172
174
ONGC
174
176
178
179
181
POWERGRID
189
192
194
196
198
RELIANCE
883
889
894
900
905
SBIN
228
232
236
239
243
SUNPHARMA
493
498
502
507
511
TCS
2,781
2,799
2,817
2,835
2,853
TATAMOTORS
327
329
332
334
337
TATASTEEL
548
557
563
572
578
TECHM
597
610
618
631
638
ULTRACEMCO
3,776
3,825
3,862
3,911
3,948
UPL
692
698
705
711
718
VEDANTA
267
272
279
283
290
WIPRO
281
283
285
287
290
YESBANK
280
283
288
291
296
ZEEL
543
556
564
577
585
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Technical & Derivatives Report
March 26, 2018
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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