Technical & Derivatives Report
February 28, 2018
Sensex (34346) / Nifty (10554)
Exhibit 1: Nifty Daily Chart
Yesterday, our markets kick started the proceedings on a positive
note citing to strong overnight cues from the US bourses.
However, this enthusiasm lasted merely for few minutes as we
saw good amount of selling pressure at higher levels and as a
result, the index remained under pressure for the remaining part
of the day to eventually conclude with a cut of 0.27%.
With reference to previous article, we highlighted important
hurdle of 10640 for Nifty. This level certainly proved its worth
yesterday as we saw Nifty falling after posting a high
of 10631.65 in initial trades. Hence, we continue to consider this
as a crucial level for coming session. On the lower
side, 10500 has become an immediate base. Any sustainable
breakout from the range of 10640
-
10500 would dictate
immediate direction for the index. Having said that we continue
to believe that breaking above 10640 would extend this relief
rally towards 10700 - 10750; but it certainly does not change
the broader picture, which turned in favor of the bears couple of
weeks back. For a time being, traders should focus on these
crucial levels and should position themselves accordingly. The
banking index was the major culprit yesterday, courtesy to yet
another negative news flow with regards to ‘PNB’. ‘Nifty PSU
Bank’ index is hastening towards its crucial support of 2928 and
hence, traders should keep a close eye on this important junction
as well.
Key Levels
Support 1 - 10500
Resistance 1 - 10590
Support 2 - 10430
Resistance 2 - 10640
Nifty Bank Outlook - (25384)
Exhibit 2: Nifty Bank Daily Chart
After a relief rally of three trading sessions, the Nifty Bank index
traded resumed the corrective move as it traded with a negative
bias throughout the session. The index posted a loss of 1.18
percent over its previous session's close. The PSU Banking stocks
continued the sell-off and corrected further to drag the Nifty PSU
Bank index lower to end the day with loss of another 3.5%.
During this month, the Nifty Bank index had shown a decent price
correction from the recent highs, as the '200 DMA' has acted as a
support for the index, there could now be a 'time-wise' correction
as well which is usually termed as a consolidation phase. Short-
term traders should hence focus on stock specific strategy for
time-being and trade with proper risk management. The intraday
supports for the Nifty Bank index are placed around 25340 and
25150 whereas resistances are seen around 25600 and 25800.
Key Levels
Support 1 - 25340
Resistance 1 - 25600
Support 2 - 25150
Resistance 2 - 25800
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Technical & Derivatives Report
February 28, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 4.54%
BankNifty futures open interest has decreased by 4.65%
as market closed at 10554.30 levels.
The Nifty February future closed with a premium of 9.75
points against a premium of 17.85 points in last trading
session. The March series closed at a premium of 43.95
points.
The INDIA VIX has increased from 13.69 to 13.92. At the
same time, the PCR-OI of Nifty has decreased from 1.46
to 1.42 level.
Few of the liquid counters where we have seen high cost
of carry are IFCI, GMRINFRA, ADANIPOWER, SUZLON
and SOUTHBANK.
Views
OI Gainers
FIIs continued selling in cash market segment to the tune
OI
PRICE
of Rs. 907 crores. While, they were net buyers in index
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
futures of Rs. 783 crores with rise in open interest,
PNB
83216000
30.80
98.35
-12.34
indicating formation of fresh long positions in previous
AMBUJACEM
12275000
22.38
251.40
-4.28
trading session.
PIDILITIND
1378000
16.88
885.80
-0.75
In index options front, they bought of Rs. 1016 crores
CEATLTD
1034600
14.35
1573.95
-2.59
with rise in open interest. In call options, we saw good
RAMCOCEM
825600
14.03
749.80
1.59
amount of build-up in 10600-11000 strikes. On the flip
CHOLAFIN
495000
13.66
1464.55
0.81
side, 10300-10600 put strikes added fresh positions;
OFSS
137100
12.70
3871.30
-3.32
followed by unwinding in 9900 strike. Now, maximum
BANKINDIA
20298000
12.58
118.45
-7.31
open interest concentration for March series is placed at
10700 call and 10400 put options.
We started off March series with lower open interest
OI Losers
base; however thereafter we saw decent open interest
OI
PRICE
SCRIP
OI
PRICE
addition which is blend of long and shorts. FIIs too
CHG. (%)
CHG. (%)
formed mixed positions in index futures segment and
ORIENTBANK
18780000
-18.64
96.05
2.06
they have also gone long in both index call and put
IDBI
47750000
-11.56
73.50
-6.87
options. At present,
10650-10700 is a strong
KPIT
12073500
-7.48
213.30
2.25
resistance for index; hence, we would advise traders
HEXAWARE
4878000
-5.85
346.05
0.75
avoiding aggressive longs at current levels as we have
MRPL
6831000
-5.54
122.65
1.03
limited upside. One can prefer stock specific
TATAELXSI
1652000
-5.41
1038.90
-0.98
approach until index remains in a range of
PETRONET
13746000
-4.72
249.65
2.41
10400-10700.
CHENNPETRO
2493000
-4.32
369.50
-1.36
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.42
0.98
PNB
100.68
BANKNIFTY
1.00
0.89
OFSS
26.15
PNB
0.86
0.71
AMBUJACEM
36.88
SUNPHARMA
0.56
0.49
BANKINDIA
62.38
FORTIS
0.87
0.39
CANBK
51.73
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Technical & Derivatives Report
February 28, 2018
FII Statistics for February 27, 2018
Turnover on February 27, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2207.76
1424.45
783.30
170150
14147.84
5.29
222516
19785.30
26.82
FUTURES
FUTURES
INDEX
INDEX
59752.57
58736.40
1016.17
696691
57115.73
3.07
4774077
456087.72
35.39
OPTIONS
OPTIONS
STOCK
8560.53
8132.46
428.07
1015978
72439.80
1.51
STOCK
FUTURES
701295
49646.85
3.14
FUTURES
STOCK
STOCK
5026.12
4896.36
129.76
46622
3281.89
19.75
424598
29951.00
4.61
OPTIONS
OPTIONS
Total
75546.98
73189.68
2357.30
1929441
146985.26
2.77
TOTAL
6122486
555470.88
29.41
Nifty Spot = 10554.30
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10600
180.25
Buy
10600
157.35
59.15
40.85
10659.15
38.85
61.15
10561.15
Sell
10700
121.10
Sell
10500
118.50
Buy
10600
180.25
Buy
10600
157.35
104.30
95.70
10704.30
69.00
131.00
10531.00
Sell
10800
75.95
Sell
10400
88.35
Buy
10700
121.10
Buy
10500
118.50
45.15
54.85
10745.15
30.15
69.85
10469.85
Sell
10800
75.95
Sell
10400
88.35
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 28, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
405
408
412
415
420
AMBUJACEM
243
247
254
258
265
ASIANPAINT
1,093
1,102
1,107
1,116
1,121
AUROPHARMA
606
610
615
619
625
AXISBANK
527
533
542
548
558
BAJAJ-AUTO
3,002
3,018
3,038
3,054
3,074
BAJFINANCE
1,634
1,645
1,663
1,674
1,692
BPCL
417
422
429
434
441
BHARTIARTL
421
426
429
434
438
INFRATEL
335
340
345
349
354
BOSCHLTD
18,811
18,914
19,073
19,177
19,336
CIPLA
574
580
590
596
605
COALINDIA
301
305
311
315
321
DRREDDY
2,182
2,209
2,225
2,252
2,269
EICHERMOT
26,829
26,992
27,169
27,332
27,509
GAIL
443
450
462
469
481
HCLTECH
936
943
951
958
965
HDFCBANK
1,886
1,894
1,908
1,916
1,930
HDFC
1,801
1,815
1,833
1,847
1,865
HEROMOTOCO
3,526
3,556
3,575
3,605
3,624
HINDALCO
239
242
246
248
252
HINDPETRO
384
388
392
395
399
HINDUNILVR
1,326
1,336
1,344
1,355
1,363
IBULHSGFIN
1,249
1,264
1,286
1,301
1,323
ICICIBANK
316
319
323
326
330
IOC
371
374
378
382
386
INDUSINDBK
1,664
1,675
1,689
1,700
1,715
INFY
1,115
1,133
1,143
1,161
1,171
ITC
264
265
267
268
269
KOTAKBANK
1,078
1,086
1,095
1,103
1,112
LT
1,317
1,328
1,342
1,352
1,366
LUPIN
813
820
826
832
838
M&M
727
733
738
744
749
MARUTI
8,717
8,804
8,960
9,047
9,202
NTPC
161
163
165
167
168
ONGC
181
185
190
193
198
POWERGRID
194
196
197
199
200
RELIANCE
931
941
948
958
966
SBIN
260
264
270
274
280
SUNPHARMA
529
537
550
558
572
TCS
3,004
3,023
3,051
3,070
3,098
TATAMOTORS
367
370
373
376
379
TATASTEEL
658
665
676
683
694
TECHM
595
603
610
618
626
ULTRACEMCO
4,122
4,149
4,167
4,194
4,212
UPL
706
713
720
727
734
VEDANTA
334
337
341
344
348
WIPRO
289
290
292
294
296
YESBANK
320
323
329
333
338
ZEEL
566
571
580
585
594
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Technical & Derivatives Report
February 28, 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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