Technical & Derivatives Report
March 28, 2018
Sensex (33174) / Nifty (10184)
Exhibit 1: Nifty Daily Chart
Although, this bounce back was mainly driven by some cool
off in US bourses; the ‘Expiry Factor’ in our markets certainly
had the major role to play in this relief rally. Despite Nifty
sliding below 10000 on Friday, the put writers did not run for
shelter and in fact stood firmly to enjoy this broad based
bounce back move. Yesterday, there was a sort of
consolidation with a positive bias to close tad below the
10200 mark.
Last two day’s move must have caught so many traders on the
wrong foot that went short after breaking the psychological
five digit mark of 10000. Mostly, this is how market behaves
when the consensus stat moving in the same direction. For this
expiry, we were seeing 9950 - 9900 as a strong support zone
as we saw couple of key Fibonacci ratios converging around
it. Having said that this does not change the broader picture
and hence, we expect market to face some selling pressure if
Nifty rebounds in the range of 10250 - 10350. Today being
an expiry day, 10200 - 10230 would be seen as a strong
hurdle for the index. A failure to surpass this zone would result
into some profit booking towards 10160 - 10130 levels.
For the day, we expect continuation of this consolidation in
benchmarks and thus, traders are advised to keep focusing on
individual stocks with a proper exit strategy.
Key Levels
Support 1 - 10160
Resistance 1 - 10200
Support 2 - 10130
Resistance 2 - 10230
Nifty Bank Outlook - (24434)
Exhibit 2: Nifty Bank Daily Chart
The Nifty Bank index continued the previous day's momentum
and rallied higher to end the session with further gains of 0.78
percent over the previous day's close. The PSU Banking space
showed some outperformance owing to the positive
divergence which we had highlighted in yesterday's report.
Since its F&O expiry session today and there's a long weekend
ahead, there could be stock specific volatility in today's
session. Traders are advised to focus on stock specific moves
and look to lighten up their existing longs on further up move.
The intraday supports for the index are placed around 24200
and 24145 whereas resistances are seen around 24560 and
24725.
Key Levels
Support 1 - 24200
Resistance 1 - 24560
Support 2 - 24145
Resistance 2 - 24725
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Technical & Derivatives Report
March 28, 2018
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.16%
(`000)
Openinterest
Nifty
BankNifty futures open interest has increased by 4.24%
35,000
10700
as market closed at 10184.15 levels.
10600
30,000
The Nifty February future closed with a discount of 5.20
10500
points against a premium of 15.55 points in last trading
25,000
10400
session. The April series closed at a premium of 31.65
10300
points.
20,000
The INDIA VIX has increased from 15.20 to 15.55. At the
10200
15,000
same time, the PCR-OI of Nifty has remained unchanged
10100
at 1.15 level.
10,000
10000
Few of the liquid counters where we have seen high cost
9900
of carry are OIL, SHREECEM, GLENMARK, INFIBEAM
5,000
9800
and IDBI.
,0
2-26
2-28
3-5
3-7
3-9
3-13
3-15
3-19
3-23
3-27
9700
Views
FIIs were net buyers in both cash market segment and
OI Gainers
index futures. They sold equities to the tune of Rs. 1063
OI
PRICE
crores. At the same time, they were buyers of worth
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Rs. 355 crores in index futures with rise in open interest,
CUMMINSIND
1558200
102.89
711.80
-4.26
indicating blend of long formation and short covering in
PIDILITIND
1621000
25.95
926.30
1.66
previous trading session.
RAMCOCEM
1042400
23.86
742.80
0.44
In index options front, they were net buyers of Rs. 244
CHOLAFIN
636500
21.93
1468.65
1.77
crores with rise in open interest. As far as Nifty options
APOLLOTYRE
12981000
21.48
274.80
2.40
activities are concerned, we saw fresh build-up in 10200-
NIFTYMID50
591400
15.15
5013.50
1.65
10300 call options; followed by good amount of
IDBI
44470000
13.76
76.25
5.44
unwinding in 10000 and 10100 strikes. On the flip side,
SRF
759000
13.62
1996.25
3.54
10150-10200 put options added good amount of
positions along with unwinding in 9900-10000 strikes.
Maximum open interest concentration is still firmly placed
OI Losers
in 10500 call and 10000 put options.
OI
PRICE
The benchmark index extended its gains in yesterday’s
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
trading session; but, we hardly saw any meaningful
JUSTDIAL
4403000
-13.19
460.55
0.49
buying interest. FIIs still hold majority of shorts in
NMDC
32988000
-12.76
121.55
0.79
index futures, indicated by their ‘Long Short Ratio’
ORIENTBANK
14868000
-11.69
94.45
2.71
which is at 34%. Rollover in Nifty and BankNifty is at
INDIANB
3826000
-11.68
306.70
4.34
54.36% and 53.75% respectively, which is on the
NHPC
47547000
-10.65
27.55
2.23
higher side. Thus, we believe shorts formed in current
ENGINERSIN
8701000
-9.40
159.25
1.53
series are being rolled too, hinting limited upside. In
NIITTECH
1656000
-9.14
887.90
-1.76
the coming sessions, 9950-10000 is an important
MANAPPURAM
19764000
-8.14
110.20
1.05
support zone; whereas, 10200-10250 shall act as an
immediate hurdle for index
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.15
0.98
NESTLEIND
25.75
BANKNIFTY
1.19
0.87
CUMMINSIND
33.22
SUNPHARMA
0.37
0.34
DABUR
21.44
PNB
0.69
0.29
MRF
28.84
SBIN
0.58
0.45
OIL
42.86
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Technical & Derivatives Report
March 28, 2018
FII Statistics for March 27, 2018
Turnover on March 27, 2018
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
7257.41
6902.31
355.10
318215
25070.10
2.92
443227
37424.75
-2.22
FUTURES
FUTURES
INDEX
INDEX
126115.70
125871.74
243.97
967460
76019.34
0.34
10658805
918171.46
24.72
OPTIONS
OPTIONS
STOCK
34178.85
33603.47
575.38
1147313
79121.11
1.60
STOCK
FUTURES
1837015
124261.20
15.44
FUTURES
STOCK
STOCK
5522.97
5392.55
130.42
110191
7711.08
(3.50)
714677
51534.36
2.29
OPTIONS
OPTIONS
Total
173074.94
171770.07
1304.87
2543179
187921.63
1.05
TOTAL
13653724
1131391.77
21.33
Nifty Spot = 10184.15
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10200
22.50
Buy
10200
42.55
18.90
81.10
10218.90
32.40
67.60
10167.60
Sell
10300
3.60
Sell
10100
10.15
Buy
10200
22.50
Buy
10200
42.55
21.75
178.25
10221.75
38.50
161.50
10161.50
Sell
10400
0.75
Sell
10000
4.05
Buy
10300
3.60
Buy
10100
10.15
2.85
97.15
10302.85
6.10
93.90
10093.90
Sell
10400
0.75
Sell
10000
4.05
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 28, 2018
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
358
362
366
369
373
AMBUJACEM
228
230
232
234
237
ASIANPAINT
1,107
1,119
1,129
1,141
1,150
AUROPHARMA
548
554
558
564
568
AXISBANK
501
507
515
520
528
BAJAJ-AUTO
2,745
2,772
2,818
2,844
2,891
BAJFINANCE
1,725
1,749
1,773
1,797
1,822
BPCL
410
415
421
426
431
BHARTIARTL
400
407
415
421
429
INFRATEL
325
331
339
345
353
BOSCHLTD
17,112
17,400
17,589
17,877
18,067
CIPLA
537
541
545
549
553
COALINDIA
271
273
275
278
280
DRREDDY
2,075
2,089
2,104
2,118
2,133
EICHERMOT
27,787
28,105
28,333
28,651
28,879
GAIL
305
313
317
326
330
HCLTECH
944
958
968
982
993
HDFCBANK
1,866
1,879
1,889
1,902
1,912
HDFC
1,801
1,812
1,825
1,836
1,849
HEROMOTOCO
3,411
3,438
3,463
3,490
3,515
HINDALCO
207
213
216
222
225
HINDPETRO
331
339
344
351
356
HINDUNILVR
1,312
1,323
1,331
1,341
1,350
IBULHSGFIN
1,203
1,224
1,239
1,260
1,274
ICICIBANK
278
281
284
287
290
IOC
166
171
173
177
180
INDUSINDBK
1,744
1,766
1,781
1,803
1,818
INFY
1,144
1,149
1,155
1,160
1,166
ITC
255
257
259
261
262
KOTAKBANK
1,035
1,043
1,050
1,058
1,065
LT
1,295
1,301
1,308
1,314
1,321
LUPIN
735
742
747
754
759
M&M
736
740
746
751
757
MARUTI
8,716
8,784
8,835
8,904
8,955
NTPC
167
169
170
172
173
ONGC
175
178
179
181
183
POWERGRID
195
195
196
197
197
RELIANCE
889
894
903
908
916
SBIN
245
250
253
257
260
SUNPHARMA
498
501
507
511
516
TCS
2,805
2,826
2,845
2,866
2,885
TATAMOTORS
327
329
332
335
338
TATASTEEL
581
585
592
597
604
TECHM
613
617
623
628
634
ULTRACEMCO
3,897
3,938
3,964
4,005
4,031
UPL
722
730
736
743
749
VEDANTA
281
284
287
290
293
WIPRO
268
271
276
279
284
YESBANK
296
300
304
308
313
ZEEL
576
581
589
594
602
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Technical & Derivatives Report
March 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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