Technical & Derivatives Report
December 28, 2017
Sensex (33912) / Nifty (10491)
Exhibit 1: Nifty Daily Chart
Our markets opened with a mildly positive bias and then
consolidated within a very thin range for the major part of the day.
The index attempted to extend this rally post the midsession and hit a
new high tad above the 10550 mark. However, a strong bout of
profit booking in last 90 minutes of the trade dragged the index
lower to eventually conclude the session below 10500.
Yesterday’s correction from higher levels was a typical move when we
see complacency among the market participants. Traders might have
geared themselves up for the next milestone of 10600 and suddenly
we saw index tumbling in the latter half. In our recent articles, we had
cautioned about the ‘NSE Midcap’ index showing some signs of
exhaustions (despite making new highs). In-line with the expectation,
the midcap index struggled at higher levels as we saw decent amount
of profit booking in the broader market. This is what we have been
emphasizing on since last few days that this time the so called ‘Santa
Rally’ would not be so easy to participate in. Going forward, we are
likely to see such bumpy rides and hence, one has to be very selective
and look to book profits on the possible opportunities. As far as Nifty
is concerned, for the coming session, 10520 - 10552 would be seen
as intraday hurdles; whereas 10469 - 10426 has become a crucial
support zone. A sustainable move below the lower end would result
into further weakness and hence, traders should keep a close track of
this important junction. In our previous article, we had suggested
focusing on ‘Pharmaceutical’ pack and yesterday, the entire pack
was on a roll. We continue to remain upbeat on this space and
expect outperformance to continue from the names like,
SUNPHARMA, WOCKPHARMA and DIVISLAB. On the other hand,
the banking conglomerates seem to be the weakest link and hence,
one needs to keep a close watch on this space as well.
Key Levels
Support 1 - 10469
Resistance 1 - 10520
Support 2 - 10426
Resistance 2 - 10552
Nifty Bank Outlook - (25496)
Exhibit 2: Nifty Bank Daily Chart
In last few trading sessions, the Nifty index had shown a positive
momentum along with broader market participation. However, in
spite of that momentum, the Nifty Bank index consolidated in a
narrow range and has underperformed in last one week. In
yesterday's session, the Nifty Bank index corrected in last hour of the
trade and ended the session with a loss of 0.70%. Since last few days,
we have been highlighting the importance of the resistance zone of
25750-25800 and have been advising traders to wait for a clear
breakout to initiate fresh positions in the index. So far, the index has
not managed to cross the resistance as the index heavyweights seem
to be undergoing a consolidation phase. Hence, we continue with our
advice to follow a stock-specific approach and avoid taking any
directional bet on the index until the mentioned resistance is crossed.
Key Levels
Support 1 - 25365
Resistance 1 - 25650
Support 2 - 25250
Resistance 2 - 25750
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Technical & Derivatives Report
December 28, 2017
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.39%
BankNifty futures open interest has increased by 0.43%
as market closed at 10490.75 levels.
The Nifty December future closed with a premium of
9.45 points against a discount of 5.55 points in last
trading session. The January series closed at a premium
of 42.60 points.
The INDIA VIX has increased from 10.05 to 12.49. 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 GMRINFRA, IDFCBANK, TVSMOTOR,
JETAIRWAYS and BALKRISIND.
Views
OI Gainers
OI
PRICE
FIIs were net buyers in cash market segment to the tune
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
of Rs. 172. At the same time, they were buyer in index
RCOM
125650000
25.44
28.75
33.10
futures of Rs. 1378 crores with fall in open interest,
MINDTREE
2058000
12.83
612.00
2.05
indicating short covering took place in yesterday’s
LUPIN
15402200
12.42
877.75
0.31
trading session.
TORNTPHARM
530100
12.12
1397.85
0.77
In index options front, they were buyers of Rs. 889 crores
ADANIPOWER
142160000
11.73
40.70
3.30
with fall in open interest. In call options, we saw good
AJANTPHARM
841900
9.57
1486.75
0.80
amount of open interest addition in 10550 and 10600
NHPC
60858000
8.16
31.70
-0.31
strikes; followed by unwinding in 10300-10500 call
CONCOR
1164375
7.63
1366.35
-2.26
options. On the other side, except for some build-up in
10550 put option, we hardly saw any strike adding fresh
positions. However, good amount of unwinding was seen
OI Losers
in 10400 and 10500 put options.
OI
PRICE
SCRIP
OI
PRICE
In the recent up move, we saw good amount of positions
CHG. (%)
CHG. (%)
forming in index futures; but, daily open interest activity
MUTHOOTFIN
1710000
-18.04
476.25
2.52
hints these are blend of both long and short positions.
RELCAPITAL
14742750
-15.18
519.30
-0.35
Rollover in Nifty is on the higher side at
50.70%,
PIDILITIND
1504000
-12.76
915.40
-1.12
suggesting these positions are being rolled too. At
INDIGO
2641200
-11.57
1219.95
1.55
current juncture, the F&O data remains unclear for us;
JETAIRWAYS
6120000
-10.93
810.55
-1.42
hence, traders are advised to stay light in index and
WOCKPHARMA
3233300
-10.77
891.40
2.20
prefer stock specific approach as they have better risk
CGPOWER
31836000
-9.64
90.55
-0.44
reward ratio.
JISLJALEQS
49230000
-9.24
127.15
-1.20
Put-Call Ratio
Historical Volatility
SCRIP
PCR-OI
PCR-VOL
SCRIP
HV
NIFTY
1.59
1.16
SUNPHARMA
40.51
BANKNIFTY
0.95
0.93
RCOM
241.92
RELIANCE
0.39
0.35
JUBLFOOD
32.28
MARUTI
0.66
0.40
MFSL
32.66
INFY
0.96
0.66
JPASSOCIAT
78.78
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Technical & Derivatives Report
December 28, 2017
FII Statistics for December 27, 2017
Turnover on December 27, 2017
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
7058.33
5680.73
1377.60
228552
18406.96
(7.22)
360323
30988.74
94.27
FUTURES
FUTURES
INDEX
INDEX
69660.79
68772.16
888.63
1282087
103449.50
(3.14)
7738702
688427.72
93.94
OPTIONS
OPTIONS
STOCK
28779.37
28692.00
87.37
1041267
76005.98
1.55
STOCK
FUTURES
1954053
139001.66
37.55
FUTURES
STOCK
STOCK
5251.78
5280.99
(29.22)
81858
6123.58
(1.25)
721756
51905.06
9.92
OPTIONS
OPTIONS
Total
110750.27
108425.88
2324.38
2633764
203986.01
(1.66)
TOTAL
10774834
910323.17
75.33
Nifty Spot = 10490.75
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
10500
24.70
Buy
10500
24.45
22.20
77.80
10522.20
19.10
80.90
10480.90
Sell
10600
2.50
Sell
10400
5.35
Buy
10500
24.70
Buy
10500
24.45
24.15
175.85
10524.15
22.70
177.30
10477.30
Sell
10700
0.55
Sell
10300
1.75
Buy
10600
2.50
Buy
10400
5.35
1.95
98.05
10601.95
3.60
96.40
10396.40
Sell
10700
0.55
Sell
10300
1.75
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 28, 2017
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
398
401
404
407
410
AMBUJACEM
266
269
271
274
277
ASIANPAINT
1,134
1,142
1,149
1,157
1,164
AUROPHARMA
673
682
692
700
710
AXISBANK
546
550
555
560
565
BAJAJ-AUTO
3,283
3,311
3,348
3,376
3,413
BAJFINANCE
1,741
1,756
1,777
1,792
1,812
BPCL
525
529
535
539
545
BHARTIARTL
521
528
538
545
554
INFRATEL
362
365
368
371
374
BOSCHLTD
19,796
19,945
20,147
20,296
20,498
CIPLA
602
607
616
621
629
COALINDIA
260
261
263
265
267
DRREDDY
2,333
2,367
2,395
2,429
2,458
EICHERMOT
29,984
30,087
30,204
30,307
30,424
GAIL
502
505
510
512
517
HCLTECH
874
879
885
890
896
HDFCBANK
1,840
1,849
1,859
1,868
1,879
HDFC
1,699
1,704
1,709
1,714
1,719
HEROMOTOCO
3,715
3,751
3,793
3,828
3,870
HINDALCO
262
264
267
269
272
HINDPETRO
420
423
426
429
433
HINDUNILVR
1,332
1,342
1,353
1,363
1,374
IBULHSGFIN
1,180
1,186
1,194
1,200
1,208
ICICIBANK
308
311
314
316
320
IOC
395
398
404
407
412
INDUSINDBK
1,636
1,643
1,657
1,664
1,678
INFY
1,022
1,028
1,034
1,040
1,045
ITC
260
261
263
264
265
KOTAKBANK
1,004
1,009
1,015
1,021
1,027
LT
1,237
1,247
1,262
1,272
1,286
LUPIN
862
868
877
884
892
M&M
732
739
747
755
762
MARUTI
9,553
9,599
9,675
9,720
9,796
NTPC
174
176
178
180
182
ONGC
189
191
193
195
198
POWERGRID
198
200
202
204
206
RELIANCE
908
916
927
935
945
SBIN
309
312
316
319
323
SUNPHARMA
528
552
567
591
606
TCS
2,582
2,601
2,630
2,649
2,678
TATAMOTORS
416
419
424
427
432
TATASTEEL
712
718
724
729
735
TECHM
486
494
500
509
514
ULTRACEMCO
4,221
4,249
4,294
4,322
4,366
UPL
730
735
741
746
752
VEDANTA
317
322
325
329
333
WIPRO
297
302
305
310
313
YESBANK
310
313
316
318
321
ZEEL
571
579
585
593
598
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Technical & Derivatives Report
December 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]
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