Technical & Derivatives Report
December 27, 2017
Sensex (34011) / Nifty (10532)
Exhibit 1: Nifty Daily Chart
The extended weekend was followed by a flat session in absence
of major market participants. The index consolidated in a slender
range before the final half an hour of the day. The index
suddenly soared nearly 60 points towards the fag end to reach
yet another milestone of 10500 on a closing basis.
With reference to previous article, we had stated a trading range
of 10372 - 10490 for the Nifty and a move outside this range
would trigger some momentum. IN-line with this, we witnessed a
sharp move in the upward direction after convincingly surpassing
the higher end of the range. Going ahead, we may see extension
of the rally towards 10575 - 10600; but, we believe that the
move will not be as swift as it should be otherwise. Hence, we
continue with our recent stock centric approach and as
mentioned earlier, one needs to be very selective while picking up
the stock. Yesterday also, we did not see sharp moves coming in
each and every stock. Only selective pockets were buzzing in the
trade and amongst which the entire ADAG pack was the center of
attraction as we saw Reliance communication (RCOM) soaring
more than 30% from Friday’s close. In addition, ‘Pharmaceutical’
conglomerates seem well poised and hence, we expect this
positive traction to continue in names like, SUNPHARMA, CIPLA
and WOCKPHARMA.
Key Levels
Support 1 - 10425
Resistance 1 - 10575
Support 2 - 10400
Resistance 2 - 10600
Nifty Bank Outlook - (25675)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index continued its consolidation phase in
yesterday's session and ended the session almost near the
previous day's close.
As mentioned in our earlier reports, the Nifty Bank index have
been undergoing a consolidation phase as the index
heavyweights have not been showing any signs of a trended
move. Going ahead, the Bank index needs to cross the resistance
zone of 25750-25800 for a continuation of the uptrend. Traders
should wait for a clear breakout above the mentioned resistance
to take a directional view in the Nifty Bank index. Until then, we
continue with our advice to focus on stock specific moves and
trade with proper risk management.
Key Levels
Support 1 - 25540
Resistance 1 - 25750
Support 2 - 25465
Resistance 2 - 25800
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Technical & Derivatives Report
December 27, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 7.90%
BankNifty futures open interest has increased by 12.16%
as market closed at 10531.50 levels.
The Nifty December future closed with a discount of 5.55
points against a premium of 12.45 points in last trading
session. The January series closed at a premium of
36.35 points.
The INDIA VIX has decreased from 11.58 to 10.05. At
the same time, the PCR-OI of Nifty remains unchanged
at 1.59 level.
Few of the liquid counters where we have seen high cost
of carry are IRB, RCOM, IDFCBANK, RNAVAL and UBL.
Views
OI Gainers
FIIs activity in cash market segment remained subdued.
OI
PRICE
SCRIP
OI
PRICE
At the same time, they were marginal sellers in index
CHG. (%)
CHG. (%)
futures with good amount of rise in open interest,
CUMMINSIND
952800
38.69
928.45
5.59
indicating formation of both long and short positions in
PIDILITIND
1724000
22.36
925.80
-2.31
yesterday’s trading session.
TORNTPHARM
472800
20.95
1387.15
1.33
In index options front, they were buyers of Rs. 1080
HDIL
41278000
19.21
59.15
1.81
crores with rise in open interest. In call options, 10550
JUSTDIAL
4143000
14.25
525.60
6.96
and 10600 strikes added some fresh positions; followed
SYNDIBANK
26082000
13.51
82.00
-3.24
by decent amount of unwinding in 10400-10450 call
RELCAPITAL
17382000
12.70
521.10
7.16
options. On the flip side, we saw huge OI addition in
BALKRISIND
1349600
11.28
1195.50
-1.20
10500 and 10550 put options.
Yesterday, the benchmark index extended its gains and
concluded the session above the milestone of 10500
OI Losers
mark. In the recent up move, we also saw good amount
OI
PRICE
SCRIP
OI
PRICE
of positions forming in index futures; but, daily open
CHG. (%)
CHG. (%)
RCOM
100170000
-17.44
21.60
32.11
interest activity hints these are blend of both long and
PAGEIND
42400
-15.12
24640.40
-0.20
short positions. As far as options are concerned, 10550
and
10600 is attracting traders attention; whereas
FORTIS
45553800
-8.54
150.20
5.40
writing in 10500 and 10550 suggests momentum to
DCBBANK
7186500
-8.43
194.70
-0.43
continue. Hence, traders are advised avoiding shorting
MINDTREE
1824000
-7.54
599.70
-0.22
index and prefer stock specific approach as they have
HEXAWARE
5601000
-6.65
337.20
0.25
better risk reward ratio.
BIOCON
10969200
-6.61
540.85
0.38
CHOLAFIN
573000
-6.37
1295.25
-0.02
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.59
1.41
CUMMINSIND
31.92
BANKNIFTY
1.18
1.03
RCOM
207.14
RELIANCE
0.40
0.29
NMDC
30.63
MARUTI
0.63
0.38
NHPC
35.97
INFY
1.01
0.59
JETAIRWAYS
66.18
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Technical & Derivatives Report
December 27, 2017
FII Statistics for December 26, 2017
Turnover on December 26, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2810.83
2860.31
(49.49)
246349
19937.56
3.02
187686
15951.46
-6.83
FUTURES
FUTURES
INDEX
INDEX
25544.26
24463.93
1080.33
1323639
107059.85
1.98
4067473
354973.72
-0.26
OPTIONS
OPTIONS
STOCK
20997.52
21113.23
(115.71)
1025367
74638.14
0.51
STOCK
FUTURES
1397962
101057.50
40.62
FUTURES
STOCK
STOCK
6924.67
6874.68
49.99
82891
6242.66
1.68
622642
47222.04
-9.98
OPTIONS
OPTIONS
Total
56277.28
55312.15
965.12
2678246
207878.21
1.50
TOTAL
6275763
519204.72
4.40
Nifty Spot = 10531.50
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10500
47.90
Buy
10500
24.30
38.65
61.35
10538.65
16.90
83.10
10483.10
Sell
10600
9.25
Sell
10400
7.40
Buy
10500
47.90
Buy
10500
24.30
46.70
153.30
10546.70
21.40
178.60
10478.60
Sell
10700
1.20
Sell
10300
2.90
Buy
10600
9.25
Buy
10400
7.40
8.05
91.95
10608.05
4.50
95.50
10395.50
Sell
10700
1.20
Sell
10300
2.90
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
December 27, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
398
401
404
407
409
AMBUJACEM
264
269
271
276
279
ASIANPAINT
1,133
1,142
1,149
1,158
1,164
AUROPHARMA
677
680
684
687
690
AXISBANK
547
551
554
558
561
BAJAJ-AUTO
3,283
3,326
3,355
3,399
3,428
BAJFINANCE
1,765
1,777
1,786
1,798
1,807
BPCL
526
532
537
544
549
BHARTIARTL
517
530
538
551
559
INFRATEL
360
365
368
373
375
BOSCHLTD
19,620
19,956
20,208
20,543
20,795
CIPLA
589
600
608
619
626
COALINDIA
260
262
265
267
270
DRREDDY
2,314
2,337
2,352
2,375
2,390
EICHERMOT
29,717
29,984
30,217
30,484
30,717
GAIL
501
505
510
514
518
HCLTECH
877
883
888
894
899
HDFCBANK
1,843
1,856
1,869
1,882
1,895
HDFC
1,694
1,704
1,711
1,721
1,728
HEROMOTOCO
3,702
3,758
3,803
3,859
3,905
HINDALCO
265
267
269
271
273
HINDPETRO
425
428
430
433
436
HINDUNILVR
1,333
1,341
1,347
1,355
1,361
IBULHSGFIN
1,177
1,188
1,197
1,208
1,216
ICICIBANK
311
315
317
320
323
IOC
401
405
410
415
420
INDUSINDBK
1,638
1,651
1,660
1,673
1,681
INFY
1,015
1,025
1,033
1,044
1,052
ITC
262
263
264
265
266
KOTAKBANK
1,001
1,009
1,015
1,022
1,028
LT
1,250
1,260
1,267
1,277
1,285
LUPIN
859
866
871
878
883
M&M
729
736
743
749
756
MARUTI
9,538
9,608
9,687
9,757
9,836
NTPC
175
177
179
180
182
ONGC
190
192
195
196
199
POWERGRID
200
201
203
204
205
RELIANCE
908
919
929
940
950
SBIN
314
316
318
319
321
SUNPHARMA
523
532
538
547
554
TCS
2,599
2,624
2,657
2,682
2,715
TATAMOTORS
420
422
424
426
428
TATASTEEL
707
714
720
727
733
TECHM
485
489
494
498
502
ULTRACEMCO
4,246
4,293
4,330
4,377
4,413
UPL
725
730
735
740
744
VEDANTA
316
319
321
324
326
WIPRO
294
298
303
307
312
YESBANK
307
311
315
319
322
ZEEL
569
575
580
586
591
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Technical & Derivatives Report
December 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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