Technical & Derivatives Report
February 28, 2017
Sensex (28813) / Nifty (8897)
Exhibit 1: Nifty Weekly Chart
An inaugural day of March derivatives series started on a flat note
owing to mixed global cues. However, the index gradually kept
on sliding lower to conclude the session with half a percent cut
from its previous day’s close.
Last week, we saw our markets hitting new all-time highs; but
clearly market is facing some resistance at higher levels. In
technical terms, we would construe it as a profit booking which is
quite obvious to see after witnessing a massive rally of over 1000
points in Nifty over the past couple of months. Despite this our
directional view remains unchanged (bullish) and we expect the
index to hit new all time high soon. For the coming session, 8880
- 8850 would act as a strong support; whereas, on the upside,
8931 - 8982 would be seen as an immediate hurdle for the
index. With reference to our previous article, we would expect
continuation of this consolidation phase within the range of 8982
- 8826 before resuming the higher degree up trend. Hence, any
dip would be a buying opportunity and meanwhile as witnessed
in yesterday’s session, one should keep concentrating on
individual stocks which are likely to fetch higher returns.
Key Levels
Support 1 - 8880
Resistance 1 - 8931
Support 2 - 8850
Resistance 2 - 8982
Nifty Bank Outlook - (20613)
Exhibit 2: Nifty Bank Weekly Chart
In yesterday's trading session, the Nifty Bank index was unable to
carry forward last week's positive momentum. The index corrected
and ended the session with a loss of 1.26 percent over its
previous session's close.
In last few trading sessions, the Nifty Bank index has resisted
around 21040 which is the 127% reciprocal retracement of the
previous corrective move from
20306 to
17608. The 'RSI'
oscillator too has given a negative crossover in the overbought
territory. However, there is no sign of trend reversal in the price
structure and hence, the above mentioned scenario indicates
higher probability of a consolidation phase within an uptrend.
The broader trend continues to remain up and once the corrective
phase is done, the index is expected to resume the uptrend and
rally higher. Hence, positional traders could use corrections as
buying opportunities whereas intraday and swing traders can
focus on stock specific moves meanwhile. The intraday supports
for the NiftyBank index are placed around 20487 and 20295
whereas resistances are seen around 20855 and 21040.
Key Levels
Support 1 - 20487
Resistance 1 - 20855
Support 2 - 20295
Resistance 2 - 21040
www.angelbroking.com
Technical & Derivatives Report
February 28, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.80%
BankNifty futures open interest has increased by 1.54%
as market closed at 8896.70 levels.
The Nifty March future closed with a premium of 19.05
points against the premium of 16.65 points in last
trading session. The April series closed at a premium of
54.00 points.
The Implied Volatility of at the money options has
increased from 11.77% to 12.29%. At the same time, the
PCR-OI of Nifty has increased from 0.98 to 0.99 levels.
The total OI of the market is Rs. 2,43,503/- cr. and the
stock futures OI is Rs. 83,224/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, ICIL, NHPC, IGL and
SOUTHBANK.
Views
OI Gainers
FIIs were net sellers in both cash market segment and
OI
PRICE
SCRIP
OI
PRICE
index futures. They sold equities to the tune of Rs. 146
CHG. (%)
CHG. (%)
WOCKPHARMA
4084800
27.61
763.95
7.74
crores. While, in index futures they were net sellers worth
ZEEL
8585200
20.36
506.75
-2.77
Rs. 157 crores with significant fall in open interest,
POWERGRID
22920000
19.15
193.80
-3.27
hinting some profit booking took place in last trading
CEATLTD
2003400
19.15
1174.55
0.71
session.
In index options, FIIs were buyers of Rs. 584 crores with
JINDALSTEL
43758000
18.12
125.20
6.83
good amount of rise in open interest. The overall build-
GAIL
12609000
17.67
510.40
0.03
up was quit scattered yesterday. However, we witnessed
JPASSOCIAT
176256000
17.66
16.35
9.73
8900-9000 and 9300 call options adding some open
EICHERMOT
169625
17.35
24438.90
-2.01
interest. While, in put options, some buildup was visible
in 8900, 8700 and 8500. Highest open interest in March
OI Losers
series is placed at 9000 call and 8500 put options.
OI
PRICE
SCRIP
OI
PRICE
Yesterday, we witnessed some profit booking in market
CHG. (%)
CHG. (%)
KSCL
2704500
-6.58
467.75
2.12
after substantial rally. FIIs too unwounded marginal
longs in index futures, while, mixed activity was seen in
KOTAKBANK
9388800
-4.89
804.70
-0.73
index options segment. We had healthy rollovers in
AXISBANK
25090800
-4.61
511.30
-3.39
March series, suggesting longs formed in last few months
NMDC
17508000
-3.19
143.20
0.74
are still in system. Thus, one may see some extension of
HDFCBANK
32325500
-2.93
1394.05
0.38
this consolidation phrase but the overall market remains
CAIRN
24780000
-2.83
282.70
-1.70
optimistic for us. Thus, traders are suggested to avoid
AUROPHARMA
13619900
-2.73
682.15
1.75
forming any shorts and prefer stock specific approach.
ICICIBANK
63025000
-2.21
280.30
-1.70
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
WOCKPHARMA
52.85
NIFTY
0.99
0.91
TORNTPHARM
30.87
BANKNIFTY
0.74
0.76
POWERGRID
27.26
RELIANCE
0.81
0.44
COALINDIA
32.49
TATAMOTORS
0.49
0.38
TV18BRDCST
43.89
SBIN
0.43
0.31
www.angelbroking.com
Technical & Derivatives Report
February 28, 2017
FII Statistics for February 27, 2017
Turnover on February 27, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
1181.63
1338.42
(156.79)
271359
18645.84
(0.93)
165995
12151.78
-67.41
FUTURES
FUTURES
INDEX
INDEX
26222.97
25638.82
584.15
736990
49678.78
7.33
2217744
168464.79
-77.75
OPTIONS
OPTIONS
STOCK
6825.33
7083.39
(258.06)
933420
62752.32
0.66
STOCK
FUTURES
571454
40181.47
-65.80
FUTURES
STOCK
STOCK
2999.01
2710.52
288.49
29793
2035.00
1112.58
287547
20479.19
-56.40
OPTIONS
OPTIONS
TOTAL
37228.94
36771.15
457.79
1971562
133111.94
4.30
TOTAL
3242740
241277.23
-74.84
Nifty Spot = 8896.70
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9000
89.00
Buy
8800
84.85
35.30
64.70
9035.30
27.00
73.00
8773.00
Sell
9100
53.70
Sell
8700
57.85
Buy
9000
89.00
Buy
8800
84.85
59.35
140.65
9059.35
45.45
154.55
8754.55
Sell
9200
29.65
Sell
8600
39.40
Buy
9100
53.70
Buy
8700
57.85
24.05
75.95
9124.05
18.45
81.55
8681.55
Sell
9200
29.65
Sell
8600
39.40
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
www.angelbroking.com
Technical & Derivatives Report
February 28, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,391
1,404
1,424
1,437
1,457
ADANIPORTS
292
294
297
300
303
AMBUJACEM
224
227
230
232
235
ASIANPAINT
987
994
1,007
1,014
1,026
AUROPHARMA
664
672
679
687
694
AXISBANK
494
502
515
522
535
BAJAJ-AUTO
2,746
2,771
2,808
2,832
2,869
BANKBARODA
161
163
166
167
170
BHEL
150
151
153
155
156
BPCL
687
697
711
721
735
BHARTIARTL
344
350
359
365
373
INFRATEL
278
283
292
297
306
BOSCH
21,163
21,405
21,797
22,038
22,431
CIPLA
574
579
587
593
601
COALINDIA
325
328
330
332
335
DRREDDY
2,823
2,840
2,864
2,880
2,904
EICHERMOT
23,781
24,059
24,553
24,831
25,324
GAIL
506
511
519
523
531
GRASIM
1,000
1,009
1,023
1,032
1,045
HCLTECH
827
834
842
849
858
HDFCBANK
1,370
1,382
1,390
1,402
1,410
HDFC
1,356
1,366
1,378
1,387
1,399
HEROMOTOCO
3,127
3,151
3,182
3,206
3,236
HINDALCO
177
179
181
183
185
HINDUNILVR
847
857
864
873
880
ICICIBANK
272
275
281
284
289
IDEA
110
112
116
118
121
INDUSINDBK
1,298
1,309
1,328
1,339
1,359
INFY
998
1,005
1,014
1,021
1,030
ITC
255
260
263
268
271
KOTAKBANK
786
793
803
810
820
LT
1,435
1,451
1,475
1,491
1,515
LUPIN
1,442
1,453
1,461
1,472
1,480
M&M
1,271
1,282
1,293
1,304
1,314
MARUTI
5,870
5,911
5,981
6,022
6,092
NTPC
162
164
165
167
168
ONGC
191
193
196
197
200
POWERGRID
187
190
195
198
203
RELIANCE
1,162
1,201
1,229
1,267
1,295
SBIN
265
267
269
271
273
SUNPHARMA
663
669
677
683
691
TCS
2,455
2,473
2,487
2,505
2,519
TATAMTRDVR
272
275
278
281
284
TATAMOTORS
450
454
459
463
468
TATAPOWER
82
82
83
84
85
TATASTEEL
474
477
483
486
491
TECHM
487
493
502
508
517
ULTRACEMCO
3,687
3,712
3,747
3,772
3,807
WIPRO
474
482
487
495
500
YESBANK
1,400
1,411
1,428
1,439
1,456
ZEEL
492
498
507
513
522
www.angelbroking.com
Technical & Derivatives Report
February 28, 2017
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 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 company 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