Technical & Derivatives Report
February 27, 2017
Sensex (28865) / Nifty (8940)
Exhibit 1: Nifty Weekly Chart
For the third consecutive session, our markets opened higher
despite mixed cues from the global bourses. In fact, the
momentum accelerated in the first half to post a new 52-week
high of 8982.15. However, once again we witnessed a decent
profit booking in the latter half of the day to drag the index below
8950 on a closing basis.
Our markets continued its winning streak for the fifth straight
week and has now closed tad below the 52-week high. The
weekly chart now looks extremely encouraging as we can see a
completion of ‘Bullish Cup and Handle’ pattern which we have
been anticipating since last month and a half. As far direction is
concerned, we would continue with our optimistic stance and
expect the index to hit a new all time high soon. For the
forthcoming week, we expect an immediate range of 8982 -
8826 for the Nifty. In case of a dip towards the lower end of the
range, traders are advised to initiate long positions for the targets
beyond the 9000 mark. We would reiterate that the trend is
strong and hence, look to ride the tide instead of wasting too
much time on getting worried of an overbought condition of the
market. It needs to be remembered that in a strong bull run such
rules of overbought territory are easily defied.
Key Levels
Support 1 - 8826
Resistance 1 - 8982
Support 2 - 8800
Resistance 2 - 9000
Nifty Bank Outlook - (20877)
Exhibit 2: Nifty Bank Weekly Chart
On Thursday, the Nifty Bank index traded in a narrow range and
ended another session almost on a flat note. Owing to the gains
registered during the initial couple of trading sessions, the index
managed to post gains of 1.58 percent on weekly basis.
The Nifty Bank index has shown a strong upmove in last few
trading sessions. Although the momentum readings on the daily
chart are in overbought zone, there are no signs of reversal in the
index price. The index heavyweights are also showing strength
and hence, we continue to maintain our optimistic stance on the
index. Traders are hence advised to trade with positive bias and
avoid trading against the trend. The near term supports for the
Nifty Bank index are placed around 20725 and 20450 whereas
resistances are seen around 21042 and 21215.
Key Levels
Support 1 - 20765
Resistance 1 - 21042
Support 2 - 20450
Resistance 2 - 21215
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Technical & Derivatives Report
February 27, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 23.13%
BankNifty futures open interest has decreased by 34.80%
as market closed at 8939.50 levels.
The Nifty March future closed with a premium of 16.65
points against the premium of 24.95 points in last
trading session. The April series closed at a premium of
51.05 points.
The Implied Volatility of at the money options has
decreased from 13.68% to 11.77%. At the same time,
the PCR-OI of Nifty has decreased from 1.18 to 0.98
levels.
The total OI of the market is Rs. 2,23,520/- cr. and the
stock futures OI is Rs. 81,741/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, GMRINFRA, NHPC,
SOUTHBANK and RCOM.
Views
OI Gainers
FIIs were net buyers in cash market segment and index
OI
PRICE
SCRIP
OI
PRICE
futures. They bought equities to the tune of Rs.
392
CHG. (%)
CHG. (%)
SINTEX
33679875
2.12
93.95
-0.16
crores. While, in index futures they were net buyers worth
-
-
-
-
-
Rs. 2431 crores with significant fall in open interest due
-
-
-
-
-
to expiry.
-
-
-
-
-
In index options, FIIs were buyers of Rs. 1761 crores with
fall in open interest. Being the start of new series, the
-
-
-
-
-
overall buildup is quit scattered. We witnessed 9000-
-
-
-
-
-
9200 call and 8800-8600 put strikes are attracting
-
-
-
-
-
trader’s attention. Highest open interest in March series is
-
-
-
-
-
placed at 9000 call and 8500 put options.
Nifty continued its momentum last week and closed
OI Losers
above 8900 mark. FIIs formed mixed positions in index
OI
PRICE
SCRIP
OI
PRICE
futures throughout last week. Rollover in Nifty and
CHG. (%)
CHG. (%)
COALINDIA
10176200
-40.19
311.40
-0.50
BankNifty are in line to their averages at 73.30 and
59.98 respectively. Thus, looking at the rollover data, we
NHPC
24489000
-38.38
30.45
-0.33
believe majority of the long positions formed have been
STAR
1358000
-37.68
1177.35
1.64
rolled to March series. As a result, the long short ratio
M&M
3124500
-37.16
1308.05
-0.60
soared to 83%. We believe market may continue it’s up
JUSTDIAL
2628000
-36.72
520.05
-0.12
move and hence, traders are suggested to hold on to
GRASIM
5013750
-35.35
1026.90
-1.90
their longs.
INFY
21585000
-34.62
1012.50
1.75
VOLTAS
4490000
-34.16
355.85
0.66
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
WIPRO
19.47
NIFTY
0.98
1.04
KPIT
31.07
BANKNIFTY
0.95
0.98
MRF
30.19
RELIANCE
0.79
0.57
ALBK
37.78
TATAMOTORS
0.53
0.47
DHFL
46.54
ICICIBANK
0.47
0.31
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Technical & Derivatives Report
February 27, 2017
FII Statistics for February 23, 2017
Turnover on February 23, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
8746.17
6315.47
2430.70
273895
18837.54
(37.56)
514328
37286.20
45.33
FUTURES
FUTURES
INDEX
INDEX
65091.10
63330.60
1760.51
686670
46427.72
(49.12)
10167289
757240.26
51.99
OPTIONS
OPTIONS
STOCK
24679.16
24642.65
36.51
927293
62637.01
(23.88)
STOCK
FUTURES
1681781
117477.92
9.95
FUTURES
STOCK
STOCK
4429.13
3944.69
484.45
2457
152.59
(98.07)
653895
46975.04
-7.80
OPTIONS
OPTIONS
TOTAL
102945.57
98233.40
4712.17
1890315
128054.86
(39.68)
TOTAL
13017293
958979.42
40.68
Nifty Spot = 8939.50
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8900
38.90
Buy
8900
19.60
33.70
66.30
8933.70
17.00
83.00
8883.00
Sell
9000
5.20
Sell
8800
2.60
Buy
8900
38.90
Buy
8900
19.60
38.30
161.70
8938.30
18.75
181.25
8881.25
Sell
9100
0.60
Sell
8700
0.85
Buy
9000
5.20
Buy
8800
2.60
4.60
95.40
9004.60
1.75
98.25
8798.25
Sell
9100
0.60
Sell
8700
0.85
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
February 27, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,414
1,426
1,440
1,452
1,466
ADANIPORTS
291
294
299
302
306
AMBUJACEM
229
231
233
234
236
ASIANPAINT
990
1,000
1,015
1,024
1,039
AUROPHARMA
652
659
670
677
688
AXISBANK
513
521
525
533
537
BAJAJ-AUTO
2,770
2,792
2,808
2,830
2,847
BANKBARODA
166
167
168
170
171
BHEL
151
152
154
155
157
BPCL
700
709
715
724
730
BHARTIARTL
340
353
377
390
414
INFRATEL
292
295
299
302
307
BOSCH
21,544
21,767
21,974
22,197
22,404
CIPLA
583
588
591
596
599
COALINDIA
322
325
328
331
335
DRREDDY
2,846
2,867
2,895
2,916
2,944
EICHERMOT
24,342
24,610
24,955
25,223
25,568
GAIL
504
511
521
528
538
GRASIM
997
1,011
1,033
1,047
1,069
HCLTECH
827
835
843
851
859
HDFCBANK
1,367
1,380
1,401
1,415
1,435
HDFC
1,363
1,374
1,390
1,401
1,416
HEROMOTOCO
3,123
3,150
3,175
3,202
3,227
HINDALCO
177
180
182
184
186
HINDUNILVR
846
852
862
868
878
ICICIBANK
278
281
285
288
292
IDEA
112
116
119
123
126
INDUSINDBK
1,320
1,331
1,339
1,349
1,358
INFY
981
995
1,007
1,021
1,034
ITC
259
262
265
269
272
KOTAKBANK
784
798
806
819
828
LT
1,449
1,468
1,487
1,506
1,525
LUPIN
1,433
1,441
1,454
1,462
1,474
M&M
1,284
1,294
1,305
1,315
1,326
MARUTI
5,969
6,000
6,046
6,077
6,123
NTPC
162
164
166
167
169
ONGC
193
194
196
198
199
POWERGRID
196
198
200
201
203
RELIANCE
1,152
1,167
1,195
1,210
1,237
SBIN
268
269
271
272
274
SUNPHARMA
660
667
674
682
689
TCS
2,385
2,433
2,463
2,512
2,542
TATAMTRDVR
275
278
282
285
290
TATAMOTORS
454
458
461
466
469
TATAPOWER
81
82
84
85
86
TATASTEEL
474
480
484
490
494
TECHM
491
497
506
513
521
ULTRACEMCO
3,742
3,764
3,782
3,804
3,822
WIPRO
465
475
482
493
500
YESBANK
1,434
1,440
1,448
1,454
1,461
ZEEL
509
514
518
523
527
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Technical & Derivatives Report
February 27, 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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