Technical & Derivatives Report
May 17, 2016
Sensex (25653) / Nifty (7861)
Exhibit 1: Nifty Hourly Chart
The opening session of the week opened tad higher citing to
positive cues from the Asian peers. However, the index
immediately shrugged off this positive development and
continued with Friday’s negativity. However, we witnessed a
spectacular recovery in last couple of hours to keep the bulls in
the hunt for the remaining part of the week.
If we meticulously scrutinize the yesterday’s price action, we can
clearly see that the mentioned support level of 7780 played a
sheet anchor role as the Nifty recovered after posting a low of
7772. This level converged around the ‘Potential Time Reversal
Zone’ on the hourly chart; thus, due to conclusion of the ‘Time
Correction’, we witnessed a sharp reversal in the market. Going
by this hypothesis, we expect this momentum to continue first
towards 7920 and after surpassing this hurdle towards 7960. On
the flipside, 7820 - 7772 would now be seen as immediate
support levels.
Key Levels
Support 1 - 7820
Resistance 1 - 7920
Support 2 - 7772
Resistance 2 - 7960
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (16738)
In yesterday's trading session, the Nifty Bank index corrected post
opening; however; the index recovered the losses during later half
of the session and ended the day almost near its previous day's
close.
Both the bulls and bears were spoiled for a fight yesterday, where
the bears dominated during the first half of the day. The recovery
during the latter half indicates that in spite of the index resisting
near the supply zone of 17020 - 17050, the demand from the
buyers at lower levels is keeping the hope for the bulls intact.
Hence, we continue to advice short term traders not to short the
index and trade on stock specific moves as there could be range
bound activity in the index. The intraday support for the index is
placed around 16600 and 16430; whereas, resistances are seen
around 16850 and 17020.
Key Levels
Support 1 - 16600
Resistance 1 - 16850
Support 2 - 16430
Resistance 2 - 17020
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Technical & Derivatives Report
May 17, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has increased by 0.15%
BankNifty futures open interest has decreased by 2.21%
as market closed at 7860.75 levels.
The Nifty May future closed at a premium of 26.45
points against a premium of 15.65 points. The June
series closed at a premium of 35.90 points.
The Implied Volatility of at the money options has
increased from 15.02% to 15.59%.
The total OI of the market is Rs. 2,32,440/- cr. and the
stock futures OI is Rs. 61,748/- cr.
Few of the liquid counters where we have seen high cost
of carry are UNITECH, GMRINFRA, SOUTHBANK,
JPASSOCIAT and IFCI.
Views
Yesterday, FIIs activity remained subdued in equity cash
OI Gainers
segment. While, they sold Index future worth Rs. 193.49
OI
PRICE
SCRIP
OI
PRICE
crores with negligible fall in OI, indicating blend of long
CHG. (%)
CHG. (%)
unwinding and short build-up.
BANKBARODA
52280500
23.65
142.60
-8.18
KSCL
2585250
21.80
436.10
6.60
In Index Options front, FIIs were buyer to the tune of
Rs. 1275 crores with marginal rise in OI. In call options,
SYNDIBANK
10760000
18.41
63.05
-3.89
7900 strike was active and added some fresh positions.
VOLTAS
5808800
11.38
326.55
0.54
While, unwinding was seen in
7800 and.a8000brcallng.com
SBIN
72262000
11.24
177.45
-3.95
options. Whereas in put options, 7900 and 7700 strikes
added some Open Interest. Maximum OI in current
OI Losers
series is visible at 8000 call; while, in put option, it again
OI
PRICE
shifted from 7800 to 7700 strike. Since, overall FIIs
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
activity remains subdued; we reiterate our view that the
UCOBANK
11600000
-8.95
34.25
2.39
index may consolidate within a range of 7700 - 8000 in
APOLLOHOSP
811600
-6.02
1344.65
1.36
upcoming sessoins. Hence, we advise traders to wait for
APOLLOTYRE
10653000
-5.98
157.55
-1.50
further development either on derivative data front or for
KTKBANK
11952000
-4.69
116.65
-0.43
the range to get breached to initiate any positional trade
IGL
1766600
-4.69
575.90
1.03
in index futures.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
BANKBARODA
58.40
NIFTY
0.92
0.87
KSCL
53.13
BANKNIFTY
0.90
0.82
UNIONBANK
56.54
ICICIBANK
0.43
0.45
JSWENERGY
34.75
RELIANCE
0.36
0.31
SBIN
46.04
SBIN
0.42
0.40
Strategy Date
Symbol
Strategy
Status
02-05-2016
NIFTY
Long Strangle
Active
09-05-2016
RELIANCE
Long Put
Active
16-05-2016
LT
Short Strangle
Active
2
Technical & Derivatives Report
May 17, 2016
FII Statistics for 16-May 2016
Turnover on 16-May 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Contracts
( in Cr. )
(%)
Contracts
Change (%)
(in Cr.)
INDEX
INDEX
1649.55
1843.03
(193.49)
229498
13194.75
(0.50)
349680
19196.60
3.21
FUTURES
FUTURES
INDEX
INDEX
32002.82
30728.24
1274.58
1210543
70575.50
1.75
3624016
209970.48
-6.69
OPTIONS
OPTIONS
STOCK
4294.46
4699.88
(405.42)
1042078
50056.10
1.58
STOCK
FUTURES
536173
25970.44
-11.25
FUTURES
STOCK
STOCK
2701.39
2759.86
(58.48)
80662
3919.06
3.57
OPTIONS
336517
16384.63
-4.65
OPTIONS
TOTAL
40648.22
40031.01
617.20
2562781
137745.42
1.53
TOTAL
4846386
271522.15
-6.39
Nifty Spot = 7860.75
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7900
73.60
Buy
7800
48.90
37.60
62.40
7937.60
22.80
77.20
7777.20
Sell
8000
36.00
Sell
7700
26.10
Buy
7900
73.60
Buy
7800
48.90
58.65
141.35
7958.65
34.65
165.35
7765.35
Sell
8100
14.95
Sell
7600
14.25
Buy
8000
36.00
Buy
7700
26.10
21.05
78.95
8021.05
11.85
88.15
7688.15
Sell
8100
14.95
Sell
7600
14.25
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
3
Technical & Derivatives Report
May 17, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,435
1,447
1,454
1,466
1,474
ADANIPORTS
179
182
187
191
196
AMBUJACEM
213
215
217
219
221
ASIANPAINT
939
946
952
959
965
AUROPHARMA
774
781
790
797
807
AXISBANK
469
478
486
494
502
BAJAJ-AUTO
2,427
2,469
2,498
2,541
2,569
BANKBARODA
134
138
144
148
154
BHEL
117
119
122
124
126
BPCL
908
915
923
931
938
BHARTIARTL
338
345
351
359
364
INFRATEL
368
377
382
391
396
BOSCH
20,367
20,865
21,139
21,637
21,911
CIPLA
512
517
525
530
539
COALINDIA
278
280
282
285
286
DRREDDY
2,885
2,943
2,986
3,045
3,087
EICHERMOT
18,681
18,872
19,041
19,232
19,401
GAIL
366
372
377
383
388
GRASIM
4,202
4,235
4,255
4,288
4,308
HCLTECH
711
715
720
724
730
HDFCBANK
1,120
1,142
1,154
1,175
1,187
HDFC
1,149
1,168
1,179
1,198
1,210
HEROMOTOCO
2,852
2,876
2,893
2,918
2,935
HINDALCO
87
88
89
91
92
HINDUNILVR
806
826
837
858
869
ICICIBANK
213
218
223
228
233
IDEA
109
110
112
114
116
INDUSINDBK
1,048
1,064
1,075
1,091
1,102
INFY
1,196
1,205
1,215
1,224
1,233
ITC
313
321
326
334
338
KOTAKBANK
697
708
714
725
731
LT
1,255
1,269
1,283
1,297
1,310
LUPIN
1,556
1,580
1,595
1,620
1,635
M&M
1,299
1,308
1,314
1,322
1,328
MARUTI
3,817
3,849
3,872
3,904
3,927
NTPC
138
139
140
141
143
ONGC
198
200
203
205
207
POWERGRID
142
143
144
146
147
RELIANCE
965
971
977
982
988
SBIN
169
173
179
183
189
SUNPHARMA
787
792
797
803
807
TCS
2,504
2,528
2,546
2,570
2,588
TATAMTRDVR
268
272
276
280
283
TATAMOTORS
385
389
393
397
401
TATAPOWER
69
69
70
71
72
TATASTEEL
317
321
324
329
332
TECHM
470
478
487
495
504
ULTRACEMCO
3,131
3,151
3,166
3,186
3,201
WIPRO
533
537
540
544
547
YESBANK
929
955
971
997
1,013
ZEEL
437
442
451
455
464
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Technical & Derivatives Report
May 17, 2016
Research Team Tel: 022 - 39357800
For Technical Queries
For Derivatives Queries
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