Technical & Derivatives Report
September 28, 2017
Sensex (31160) / Nifty (9736)
Exhibit 1: Nifty Daily Chart
It was certainly a terrible day for the bulls as we saw a lot of
hopeful buyers entering the market after Nifty opening with an
upside gap beyond the 9900 mark and then tumbling severely
throughout the session to shed nearly 200 points from the day
high.
This is a typical behavior of the market when enters a strong
corrective mode. As we always say, in such kind of market, one
should ideally look for resistance levels rather than keep finding
for supports. We have been mentioning a strong resistance zone
of 9890 - 9950 and any bounce in this range; we were
interpreting as a good selling opportunity. Due to yesterday’s
correction, the first target of 9780 has been met and now it’s
heading towards 9685, which we believe is likely to breach soon.
We reiterate that one should avoid any kind of bottom fishing
immediately as markets are poised for a deeper correction. Yes,
in between you would have some bounce back; but, as a trader,
such relief rallies should ideally be used as an exit opportunity for
existing longs. Going ahead, 9810 - 9920 would now be seen
as a strong hurdle for the index.
Key Levels
Support 1 - 9685
Resistance 1 - 9810
Support 2 - 9641
Resistance 2 - 9837
Nifty Bank Outlook - (23813)
Exhibit 2: Nifty Bank Daily Chart
Although the Nifty Bank index opened on a positive note, the
index corrected right from the opening tick and crept lower
throughout the session to end the day with a loss of 1.60 percent.
At the start of this week itself, we had maintained a negative view
on the Nifty Bank index and had projected a target of 23850 (89
DEMA) in short term. In yesterday's corrective move, the Nifty
Bank achieved the mentioned target as the index corrected
sharply with a broad market participation. Although the index has
closed tad below the mentioned support, it would be difficult to
time the pullback moves. Since the short-term trend is corrective
and there has been a broad market participation in this
correction, we advise traders to avoid any bottom fishing at the
current juncture. The intraday supports for the Nifty Bank index
are placed around 23715 and 23625 whereas resistances are
seen around 24010 and 24105.
Key Levels
Support 1 - 23715
Resistance 1 - 24010
Support 2 - 23625
Resistance 2 - 24105
www.angelbroking.com
Technical & Derivatives Report
September 28, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 2.87%
BankNifty futures open interest has increased by 4.25%
as market closed at 9735.75 levels.
The Nifty September future closed with a discount of 3.90
points against the discount of 4.55 points in last trading
session. The October series closed at a premium of
36.55 points.
The Implied Volatility of at the money options has
increased from 13.26 to 18.26. At the same time, the
PCR-OI of Nifty is has decreased from 1.11 to 1.00 level.
Few of the liquid counters where we have seen high cost
of carry are DLF, UPL, SOUTHBANK, ADANIPOWER and
IDFC.
Views
FlIs were net sellers in cash market segment and index
futures. They sold equities to the tune of Rs. 856 crores.
OI Gainers
While in index futures they were net sellers of Rs.250
OI
PRICE
crores with good amount of rise in open interest,
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
suggesting formation of mixed position wherein majority
SIEMENS
904500
26.42
1222.05
-7.85
are on side.
BHARATFORG
4788000
17.79
1218.95
-4.33
In index options front, they were net buyers of Rs. 477
GMRINFRA
386055000
11.23
15.90
-3.93
crores with rise in open interest. In call option, we
SUZLON
503130000
9.03
15.85
-2.16
witnessed significant OI addition in 9700-9900 strikes,
CANBK
11552664
8.36
318.45
-2.97
followed by some unwinding in
9950-10200 call
SOUTHBANK
166202115
7.41
27.95
-3.79
options. This resulted, the highest concentration of OI in
IRB
18607500
7.40
206.45
-1.83
call option shifting lower to 9700 from 9800 strike. On
ACC
2200000
6.86
1591.90
-2.48
the other side, 9600-9750 put options added some fresh
positions. Hence, maximum open interest in put options
OI Losers
now stood at
9800 due to good amount of short
OI
PRICE
covering seen in 9800-9900 puts.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Although in September series our market posed new
NIITTECH
910500
-14.75
523.05
1.81
highs, FIIs continued their selling streak in cash market
UBL
866600
-13.06
823.25
-3.06
segment. At the same time, they formed huge short
SRTRANSFIN
4335600
-11.42
1047.00
3.90
positions in index futures along with longs in index puts
INDIANB
4480000
-11.39
256.25
-2.79
and writing call options. This massive selling resulted
NTPC
25144000
-11.21
165.10
-0.96
their index futures ‘Long Short Ratio’ declining below 50
RELCAPITAL
9091500
-9.98
586.30
-5.42
for the first time in this calendar year. Thus, we believe
REPCOHOME
1071700
-9.84
600.30
-0.88
market may continue to remain under pressure in near
BERGEPAINT
2303400
-9.74
243.15
0.08
term.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
SIEMENS
51.82
NIFTY
1.00
0.84
DIVISLAB
90.21
BANKNIFTY
0.66
0.87
ADANIPORTS
36.83
RELIANCE
0.45
0.66
RECLTD
46.82
INFY
0.35
0.41
SBIN
26.58
SBIN
0.32
0.28
www.angelbroking.com
Technical & Derivatives Report
September 28, 2017
FII Statistics for September 27, 2017
Turnover on September 27, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
6443.48
6693.27
(249.79)
330144
24721.68
4.70
444291
35840.10
61.95
FUTURES
FUTURES
INDEX
INDEX
124136.78
123659.86
476.92
1188564
91036.48
2.93
11718438
968591.08
65.93
OPTIONS
OPTIONS
STOCK
24410.24
23920.81
489.43
860111
58570.46
2.07
STOCK
FUTURES
1510776
106768.94
18.85
FUTURES
STOCK
STOCK
5521.41
5337.90
183.51
104080
7432.96
(2.65)
602225
47506.35
15.29
OPTIONS
OPTIONS
Total
160511.90
159611.84
900.07
2482899
181761.58
2.61
TOTAL
14275730
1158706.47
57.24
Nifty Spot = 9735.75
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
9700
58.00
Buy
9700
22.35
44.05
55.95
9744.05
14.50
85.50
9685.50
Sell
9800
13.95
Sell
9600
7.85
Buy
9700
58.00
Buy
9700
22.35
55.25
144.75
9755.25
18.65
181.35
9681.35
Sell
9900
2.75
Sell
9500
3.70
Buy
9800
13.95
Buy
9600
7.85
11.20
88.80
9811.20
4.15
95.85
9595.85
Sell
9900
2.75
Sell
9500
3.70
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
www.angelbroking.com
Technical & Derivatives Report
September 28, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,527
1,559
1,611
1,642
1,695
ADANIPORTS
356
364
379
387
401
AMBUJACEM
256
259
264
267
271
ASIANPAINT
1,138
1,149
1,164
1,175
1,190
AUROPHARMA
671
680
697
706
722
AXISBANK
494
500
507
513
520
BAJAJ-AUTO
2,976
3,004
3,035
3,063
3,094
BANKBARODA
134
136
140
142
146
BPCL
454
460
468
474
482
BHARTIARTL
381
384
387
389
392
INFRATEL
372
377
382
387
392
BOSCHLTD
20,438
20,775
21,338
21,675
22,237
CIPLA
554
562
571
580
589
COALINDIA
253
257
259
263
266
DRREDDY
2,220
2,263
2,323
2,365
2,426
EICHERMOT
29,907
30,189
30,619
30,901
31,331
GAIL
391
395
401
406
412
HCLTECH
867
871
876
880
885
HDFCBANK
1,748
1,762
1,784
1,798
1,820
HDFC
1,690
1,704
1,731
1,746
1,772
HEROMOTOCO
3,637
3,682
3,754
3,799
3,870
HINDALCO
229
231
233
236
238
HINDUNILVR
1,174
1,190
1,204
1,220
1,233
IBULHSGFIN
1,182
1,202
1,229
1,249
1,276
ICICIBANK
270
273
279
282
288
IOC
383
389
399
405
414
INDUSINDBK
1,636
1,652
1,678
1,694
1,720
INFY
888
894
901
907
914
ITC
252
255
260
264
269
KOTAKBANK
959
969
987
997
1,015
LT
1,106
1,122
1,147
1,163
1,189
LUPIN
986
993
1,003
1,010
1,019
M&M
1,206
1,219
1,237
1,250
1,269
MARUTI
7,548
7,644
7,811
7,907
8,074
NTPC
163
164
166
167
169
ONGC
168
169
171
172
174
POWERGRID
203
206
209
212
216
RELIANCE
777
788
807
818
837
SBIN
243
247
253
257
264
SUNPHARMA
482
488
496
503
511
TCS
2,455
2,475
2,494
2,514
2,532
TATAMTRDVR
219
221
225
227
231
TATAMOTORS
395
400
407
412
419
TATAPOWER
76
77
79
80
82
TATASTEEL
634
642
651
659
668
TECHM
436
443
451
457
465
ULTRACEMCO
3,657
3,728
3,844
3,915
4,031
VEDANTA
302
306
313
317
323
WIPRO
285
287
289
290
292
YESBANK
342
348
356
362
370
ZEEL
516
520
525
529
534
www.angelbroking.com
Technical & Derivatives Report
September 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 and Investment Adviser 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 c*ompany 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