July 29, 2017
Technical Picks | July 29, 2017
Nifty finally in five digits, consolidation on cards
Sensex (32310) / Nifty (10015)
Exhibit 1: Nifty Monthly chart
Trading for the week started on a cheerful note as the Nifty
breached the resistance of 9930 on Monday. Subsequently,
index continued its upward trajectory by clocking the
magical figure of
10000 on Tuesday. Although, index
continued its momentum and rallied upto 10114.85 on the
F&O expiry day, the last couple of sessions were quite
volatile and the index somehow managed to conclude the
week above 10000 to register weekly gain of a percent.
Key Moving Averages:
The ’89-day EMA’ and the ’89-week EMA’ for the
Sensex/Nifty are placed 30720 / 9496 and 28220 /
8681 levels, respectively.
The ’20-day EMA’ and the ‘20-week EMA’ for the
Source: Company, Angel Research
Sensex/Nifty are placed at 31898 / 9860 and 30647 /
9475 levels, respectively.
Exhibit 2: Nifty Daily chart
Future outlook
It’s been a remarkable calendar year for our markets as we
saw relentless rally of more than 22% YTD. In fact, the
movement in last couple of weeks has been a real gush (in
some on the heavyweight conglomerates) within this massive
rally as Nifty hastened towards the magical five digit mark of
10000.
Now, if we look at the monthly chart, the index has finally
reached the ‘Upward Sloping Trend Line’ level of 10040.
This coincides with the 100% ‘Price Extension’ of the previous
up move from 7893.80. Although, we didn’t participate
much in last couple of weeks on the index front, our sense
more or less remains the same that it’s very difficult to catch
a precise top/ exit point and hence, in such kind of extended
rallies, it’s always a prudent strategy to keep booking profits
Source: Company, Angel Research
in advance. May be, this tide has not yet turned, it’s hard to
say; but, there is no harm in liquidating your positions in
We have been actively participating in stock specific moves
advance in order to avoid any kind of surprises.
and would continue doing so with a proper exit strategy. In
fact, on Friday, we finally saw some broad base buying
interest in the market; encouraging concentrating more on
individual stocks. For the forthcoming week, we expect index
to consolidate a bit in a trading range of 200 - 300 points.
As far as levels are concerned, 10055 - 10115 would be
seen as immediate resistances; whereas, 9980 - 9950
would be the levels to watch out for on the downside.
For Private Circulation Only
1
Technical Picks | July 29, 2017
Weekly Pivot Levels For Nifty Constituents
SCRIPS
S2
S1
PIVOT
R1
R2
SENSEX
31,733
32,021
32,347
32,636
32,961
NIFTY
9,821
9,918
10,016
10,113
10,212
NIFTY BANK
23,895
24,353
24,693
25,151
25,490
ACC
1,668
1,700
1,729
1,760
1,790
ADANIPORTS
374
385
392
402
409
AMBUJACEM
252
257
266
271
280
ASIANPAINT
1,109
1,131
1,148
1,170
1,187
AUROPHARMA
692
708
733
749
774
AXISBANK
489
502
525
538
560
BAJAJ-AUTO
2,766
2,797
2,833
2,864
2,900
BANKBARODA
156
159
163
165
169
BPCL
457
466
473
483
490
BHARTIARTL
391
402
417
428
443
INFRATEL
383
393
409
420
436
BOSCHLTD
23,138
23,471
23,983
24,317
24,829
CIPLA
544
555
567
578
590
COALINDIA
240
246
256
261
271
DRREDDY
2,232
2,348
2,568
2,684
2,904
EICHERMOT
27,265
28,327
29,245
30,306
31,224
GAIL
365
373
379
387
394
HCLTECH
800
847
887
934
974
HDFCBANK
1,654
1,716
1,757
1,820
1,861
HDFC
1,556
1,671
1,735
1,850
1,914
HEROMOTOCO
3,517
3,574
3,666
3,723
3,815
HINDALCO
206
211
217
222
229
HINDUNILVR
1,111
1,133
1,163
1,184
1,214
IBULHSGFIN
1,092
1,134
1,175
1,217
1,258
ICICIBANK
281
289
301
309
322
IOC
353
360
372
379
390
INDUSINDBK
1,500
1,564
1,601
1,665
1,701
INFY
946
972
988
1,013
1,030
ITC
283
287
291
296
300
KOTAKBANK
969
991
1,004
1,026
1,039
LT
1,129
1,145
1,170
1,186
1,211
LUPIN
978
1,021
1,098
1,141
1,218
M&M
1,348
1,370
1,397
1,419
1,446
MARUTI
7,413
7,522
7,602
7,711
7,792
NTPC
159
161
164
167
170
ONGC
158
162
164
167
169
POWERGRID
208
211
215
218
222
RELIANCE
1,548
1,571
1,601
1,625
1,655
SBIN
287
293
297
303
307
SUNPHARMA
527
539
561
572
594
TCS
2,361
2,423
2,504
2,565
2,647
TATAMTRDVR
248
255
265
272
283
TATAMOTORS
423
435
452
463
480
TATAPOWER
80
81
82
83
85
TATASTEEL
535
543
556
565
577
TECHM
365
373
382
390
399
ULTRACEMCO
3,860
3,942
4,083
4,165
4,306
VEDANTA
253
264
274
285
295
WIPRO
284
286
290
293
296
YESBANK
1,476
1,659
1,760
1,943
2,044
ZEEL
510
525
543
558
576
Technical Research Team
For Private Circulation Only
2
Derivatives Review | July 29, 2017
Nifty rollovers on the lower side; wait for further development
Nifty spot closed at 10014.50 this week, against a close of 9915.25 last week. The Put-Call Ratio has decreased from 1.41 to 1.22
levels and the annualized Cost of Carry is positive at 2.97%. The Open Interest of Nifty Futures decreased by 9.93%.
Derivatives View
Weekly OI gainers
OI
OI
Price
Scrip
Price
Nifty current month future closed with a premium of 27.75
Futures
Chg (%)
Chg (%)
points against a premium of 31.55 points to its spot. Next
KPIT
14212000
215.54
125.90
0.60
month future is trading with a premium of 61.40 points.
ICICIPRULI
3684200
54.19
451.05
(3.62)
PCR-OI has decreased from 1.41 to 1.22 levels on WoW
INDIGO
2235000
47.76
1282.30
3.38
basis. Being start of new series the overall buildup in options is
quite scattered. In call option, 10100 to 10500 strikes added
IBREALEST
43230000
44.44
226.00
4.95
huge build-up. On the flip side, 9500-10100 put options
HEXAWARE
4065000
42.33
262.05
7.33
added good amount of positions, out of which major build-up
MGL
999600
33.92
994.35
0.37
was seen in 9800-10000 put options. Highest open interest in
August series is placed at 10500 followed by 10100 call
DRREDDY
3116200
33.90
2479.60
(10.64)
options; while of puts is seen in 9800 followed by 10000.
BALKRISIND
590800
30.71
1622.60
(1.09)
Stock that added longs last week are JSWENERGY,
RELCAPITAL, YESBANK, GSFC and M&MFIN. While, fresh
shorts were visible in DRREDDY, SREINFRA, TATAMTRDVR,
Weekly OI losers
REPCOHOME and GODREJIND. Liquid counters with higher
OI
OI
Price
Scrip
Price
CoC are SUZLON, UJJIVAN, KSCL, RCOM and INFIBEAM.
Futures
Chg (%)
Chg (%)
Stocks with negative CoC are PCJEWELLER, SUZLON,
ORIENTBANK
13962000
(31.36)
150.60
0.70
TV18BRDCST, SOUTHBANK and HCC.
CUMMINSIND
441600
(29.23)
997.50
7.49
July series has been the historical one for our market as the
OIL
2134572
(28.53)
283.60
4.82
benchmark index (Nifty) ended the expiry above the
magical five digit figure of
10000. Rollover in Nifty
IGL
1283150
(21.82)
1144.35
1.57
(68.41%) is lower than its quarterly average of 71.82%. At
CHOLAFIN
496000
(21.77)
1138.30
(1.48)
present, Nifty OI (Open interest) at present is lowest since
the start of calendar year 2017; indicating majority of the
BIOCON
9723600
(21.24)
400.60
0.49
longs formed in last seven series have been lightened.
EICHERMOT
156275
(20.24)
28944.65
3.50
Looking at the overall rollover data, we would advice
traders to remain light in index until we see any relevant
UPL
4698000
(19.08)
862.90
(0.10)
fresh positions forming in either direction
Weekly change in OI
40,000
Call
Put
35,000
30,000
25,000
20,000
15,000
10,000
5,000
0
(5,000)
For Private Circulation Only
3
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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