Technical & Derivatives Report
June 08, 2016
Sensex (27010) / Nifty (8266)
Exhibit 1: Nifty Daily Chart
Yesterday's session opened with a marginal upside gap owing to
positive global cues. Subsequently, we witnessed a muted
movement throughout the first. However, a strong move in the
second half led to a decent rally towards the 8300 mark. A minor
profit booking in the penultimate hour pared down some gains to
close convincingly above the 8250 mark.
If we look at the daily chart, we can see a gradual up move by
holding the '5 days EMA', which has now moved northwards;
indicating a strong up trend. We maintain our view that the Nifty
is likely to test the important swing high of 8336. Since this level is
not so far now, traders are now advised to keep booking profits
as the Nifty approaches this level. However, having said that
traders shouldn't be immediately creating short positions until we
see any reversal sign on chart. Meanwhile, traders should now
continue with their stock specific approach.
Key Levels
Support 1 - 8200
Resistance 1 - 8290
Support 2 - 8174
Resistance 2 - 8336
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (17948)
The Nifty Bank index opened with an upside gap yesterday and
ended the session on a positive note by gaining 1.57% over its
previous session's close.
Since last few weeks, we have been maintaining our bullish
stance on the Nifty Bank index and the index has moved swiftly on
our expected lines. The index is now approaching its resistance
zone of 18000 which is the previous high seen in October 2015
and 61.8% retracement of the entire corrective move from 20907
to 13407. However, as of now, the index has not given any
reversal signs and thus, traders should refrain from creating short
positions in the index. The index may breach the resistance
marginally but whether it sustains higher, that needs to be
watched. Traders with long positions are hence advised to trail
the stop loss higher and be vigilant on market moves. The near
term support for the index is placed around 17695 - 17595;
whereas, resistance is seen in range of 18000 - 18175 zone.
Key Levels
Support 1 - 17695
Resistance 1 - 18000
Support 2 - 17595
Resistance 2 - 18175
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Technical & Derivatives Report
June 08, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 3.22%
BankNifty futures open interest has increased by 9.59%
as market closed at 8266.45 levels.
The Nifty June future closed with a premium of 16.70
points against a premium of 28.75 points in previous
session. The July series closed at a premium of 42.65
points.
The Implied Volatility of at the money options has
decreased from 13.86% to 13.02%.
The total OI of the market is Rs. 2,29,863/- cr. and the
stock futures OI is Rs. 66,270/- cr.
Few of the liquid counters where we have seen high cost
of carry are UNITECH, JPASSOCIAT, RCOM,
TV18BRDCST and GMRINFRA.
Views
OI Gainers
FIIs continue buying in both cash market segment and in
OI
PRICE
Index Futures. They bought equities to the tune of Rs.
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
Rs.500 crores. While in Index Futures they bought of Rs.
KPIT
1424000
48.33
187.70
5.84
257 crores with marginal change in open interest,
CANBK
18565000
13.36
187.50
0.81
suggesting blend of fresh long formation and short
YESBANK
8746500
10.23
1063.35
-0.27
covering in last trading session.
On Index Options front, FIIs were net buyers of Rs. 350
IGL
1510300
10.02
580.05
0.15
crores with rise in OI. In call options, 8500 strike added
GLENMARK
3470100
9.95
767.20
-2.58
some build-up, which may be long formation. While in
put options, 8000-8400 strikes were active and they also
OI Losers
added some build-up. We believe it is more of writing
OI
PRICE
SCRIP
OI
PRICE
which took place in these put strikes. Maximum open
CHG. (%)
CHG. (%)
interest in current series is visible in 8400 call and 8000
UBL
2658600
-11.97
739.50
1.25
put options. FIIs from last few trading session have been
IRB
6340500
-6.07
218.10
1.75
consistently pouring liquidity, in Index Futures too they
DABUR
5128500
-5.60
307.40
1.00
have formed good amount of longs which are still intact.
CASTROLIND
7139100
-5.54
385.95
-0.30
We believe Nifty may continue its up move, stay long.
CESC
1629400
-5.50
558.20
-1.26
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
FEDERALBNK
47.99
NIFTY
1.08
1.08
ULTRACEMCO
28.80
BANKNIFTY
1.31
1.17
CENTURYTEX
38.82
SBIN
0.93
0.58
ICICIBANK
42.63
RELIANCE
0.70
0.30
SBIN
55.99
SUNPHARMA
0.39
0.33
Strategy Date
Symbol
Strategy
Status
May 30, 2016
TCS
Ratio Bull Call Spread
Active
June 06, 2016
NIFTY
Long Call
Active
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Technical & Derivatives Report
June 08, 2016
FII Statistics for 07-June 2016
Turnover on 07-June 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
1933.48
1676.32
257.16
294271
17961.97
(0.01)
300965
17501.21
80.91
FUTURES
FUTURES
INDEX
INDEX
20510.02
20165.06
344.95
973052
59821.54
2.55
3048919
179195.57
130.93
OPTIONS
OPTIONS
STOCK
5016.22
5349.46
(333.24)
1063769
52739.48
(0.47)
STOCK
FUTURES
568269
28850.08
28.63
FUTURES
STOCK
STOCK
2682.06
2792.74
(110.68)
82828
4324.90
2.32
OPTIONS
316075
15942.80
31.64
OPTIONS
TOTAL
30141.78
29983.58
158.20
2413920
134847.89
0.88
TOTAL
4234228
241489.65
98.25
Nifty Spot = 8266.45
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8300
99.30
Buy
8200
77.50
43.65
56.35
8343.65
26.60
73.40
8173.40
Sell
8400
55.65
Sell
8100
50.90
Buy
8300
99.30
Buy
8200
77.50
71.85
128.15
8371.85
44.00
156.00
8156.00
Sell
8500
27.45
Sell
8000
33.50
Buy
8400
55.65
Buy
8100
50.90
28.20
71.80
8428.20
17.40
82.60
8082.60
Sell
8500
27.45
Sell
8000
33.50
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
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Technical & Derivatives Report
June 08, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,511
1,526
1,541
1,556
1,571
ADANIPORTS
200
203
205
209
211
AMBUJACEM
226
230
233
237
239
ASIANPAINT
1,019
1,026
1,032
1,039
1,044
AUROPHARMA
757
764
775
782
793
AXISBANK
521
528
533
540
546
BAJAJ-AUTO
2,609
2,625
2,641
2,657
2,674
BANKBARODA
141
143
145
147
149
BHEL
116
118
119
121
122
BPCL
955
966
984
995
1,013
BHARTIARTL
345
347
350
352
354
INFRATEL
370
372
375
377
380
BOSCH
22,099
22,229
22,339
22,469
22,579
CIPLA
464
466
469
471
474
COALINDIA
303
305
307
310
312
DRREDDY
3,106
3,131
3,157
3,182
3,208
EICHERMOT
18,469
18,648
18,896
19,076
19,324
GAIL
370
372
375
377
380
GRASIM
4,274
4,301
4,341
4,368
4,409
HCLTECH
717
722
727
732
736
HDFCBANK
1,161
1,168
1,174
1,180
1,186
HDFC
1,234
1,243
1,251
1,260
1,269
HEROMOTOCO
3,091
3,110
3,129
3,149
3,168
HINDALCO
106
108
109
111
112
HINDUNILVR
874
885
892
904
910
ICICIBANK
241
248
251
258
261
IDEA
104
104
106
107
108
INDUSINDBK
1,090
1,100
1,114
1,124
1,139
INFY
1,244
1,251
1,262
1,268
1,279
ITC
354
359
361
365
368
KOTAKBANK
753
762
771
780
789
LT
1,444
1,466
1,483
1,505
1,522
LUPIN
1,376
1,405
1,425
1,454
1,474
M&M
1,365
1,372
1,379
1,386
1,393
MARUTI
4,077
4,106
4,148
4,177
4,218
NTPC
146
147
148
149
150
ONGC
211
212
213
214
215
POWERGRID
148
149
150
151
152
RELIANCE
947
951
956
960
965
SBIN
196
203
207
214
218
SUNPHARMA
699
719
730
750
762
TCS
2,602
2,616
2,628
2,642
2,654
TATAMTRDVR
315
317
320
323
326
TATAMOTORS
455
459
463
467
470
TATAPOWER
72
73
74
74
75
TATASTEEL
334
338
341
345
348
TECHM
527
532
538
543
550
ULTRACEMCO
3,191
3,263
3,302
3,374
3,414
WIPRO
535
538
539
542
543
YESBANK
1,048
1,057
1,071
1,080
1,094
ZEEL
447
455
460
468
474
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Technical & Derivatives Report
June 08, 2016
Research Team Tel: 022 - 39357800
For Technical Queries
For Derivatives Queries
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