Technical & Derivatives Report
March 22, 2016
Sensex (25285) / Nifty (7704)
Exhibit 1: Nifty Daily Chart
A late surge on Friday to conquer the 7600 mark set the stage
for an ideal gap up opening on Monday. Markets did not
surprise us also as we saw yesterday's opening on a cheerful
note supported by favorable global cues. In fact, the bulls
managed to take the momentum forward to post decent gains
to end the session on a high note.
The Nifty has reached yet another landmark of 7700 within no
time. As of now, we do not see any weakness on charts and
thus, we reiterate our view that traders shouldn't pre-empt any
reversal until we see any definite signal. One can adopt a
cautious approach if Nifty reaches 7750 - 7780 zone by
booking timely profits or trailing stop losses; but, shorting is
strictly avoided in such kind of strong optimism. On the
downside, 7600 would now be seen as a strong support.
Meanwhile, individual stocks are giving good moves and thus,
traders should focus on such potential trades.
Key Levels
Support 1 - 7630
Resistance 1 - 7750
Support 2 - 7600
Resistance 2 -
7780
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (15926)
Yesterday, the Nifty Bank index opened with the upside gap of
around half a percent and started moving higher from initial
trades. The banking index continued to make ‘Higher Highs’
throughout the session and eventually ended with gains of
1.73 percent over its previous close.
Yesterday, the Nifty Bank index opened above its crucial
resistance of ‘Horizontal Trend line’ (15735) on weekly chart,
which coincides with the ‘89DEMA’ and 50% retracement level
and formed a ‘Long Bullish’ candle on daily chart. The
ongoing momentum in banking counters may continue for few
more sessions and thus, we may see an extension in rally
towards 16240 and 16400 levels. Traders are advised to
remain with the trend until any reversal patterns get formed in
charts. Going forward, intraday support for the index is placed
around 15735 and 15555.
Key Levels
Support 1 - 15735
Resistance 1 - 16240
Support 2 - 15555
Resistance 2 - 16400
1
Technical & Derivatives Report
March 22, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.04%
BankNifty futures open interest has increased by 8.62%
as market closed at 7704.25 levels.
The Nifty March future closed at a premium of 9.10
points against a premium of 0.95 points. The April series
closed at a premium of 46.55 points.
The Implied Volatility of at the money options has
increased from 12.25% to 12.90%.
The total OI of the market is Rs. 2,48,767/- cr. and the
stock futures OI is Rs. 57;409/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, UNITECH, GMRINFRA,
JINDALSTEL and RPOWER.
Views
FIIs continued to buy in both Cash market and Index
OI Gainers
Future segment. They bought equities worth Rs. 1396
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
crores. While in Index Futures, they were net buyers of
TVSMOTOR
3784000
23.90
306.25
6.36
Rs. 251 crores with decent fall in OI, suggesting short
BEML
547000
20.62
1074.10
5.18
covering in last trading session.
CUMMINSIND
141600
19.80
852.30
1.06
In Index Options front, FIIs sold of worth Rs. 603 crores
TATAELXSI
462300
14.66
1957.85
1.61
with marginal change in OI. In call options, 7800 strike
BAJFINANCE
215000
12.57
6676.70
0.75
price added some fresh build-up, followed by unwinding
in 7500-7700 call options. While in put options, 7600 -ng.com
and 7700 strikes added good amount of OI. Good
OI Losers
amount of unwinding was also witness in 7300 & 7400
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
put options. Maximum OI in current series is seen in
TORNTPHARM
348800
-8.11
1351.35
2.86
7700 call option; while, in put options due to good
BOSCHLTD
94325
-7.37
19286.15
2.40
amount of unwinding in 7400 strike yesterday, highest
CONCOR
1428400
-6.17
1204.80
4.42
build-up is now visible in 7000 strike price. Seeing
AXISBANK
39483000
-5.64
444.50
1.87
continuous addition of longs in banking space we believe
UNIONBANK
10416000
-5.42
131.20
2.18
this sector can be traded with appositive bias.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
L&TFH
48.14
NIFTY
1.05
1.13
TVSMOTOR
43.43
BANKNIFTY
1.26
1.18
AMBUJACEM
40.18
SBIN
0.97
0.54
HINDUNILVR
33.45
LUPIN
0.42
0.59
ASHOKLEY
52.65
ICICIBANK
1.34
0.84
Strategy Date
Symbol
Strategy
Status
February 29, 2016
RELIANCE
Ratio Bull Call Spread
Active
March 07, 2016
BHEL
Long Call Ladder
Active
March 14, 2016
NIFTY
Ratio Bull Call Spread
Not Activated
March 21, 2016
BANKNIFTY
Long Call
Active
2
Technical & Derivatives Report
March 22, 2016
FII Statistics for 21-March 2016
Turnover on 21-March 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3454.34
3203.45
250.90
349349
19668.47
(3.19)
337546
18218.57
-4.11
FUTURES
FUTURES
INDEX
INDEX
30835.28
31438.44
(603.15)
1558990
88680.11
0.36
4487815
250377.77
1.75
OPTIONS
OPTIONS
STOCK
3418.19
3496.06
(77.88)
1047586
48429.10
0.82
STOCK
FUTURES
520613
24789.41
-3.48
FUTURES
STOCK
STOCK
2421.15
2472.16
(51.01)
92639
4322.95
3.60
OPTIONS
339063
16427.37
2.80
OPTIONS
TOTAL
40128.97
40610.11
(481.14)
3048564
161100.62
0.19
TOTAL
5685037
309813.12
1.00
Nifty Spot = 7704.25
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7700
68.85
Buy
7500
57.95
43.15
56.85
7743.15
30.45
69.55
7469.55
Sell
7800
25.70
Sell
7400
27.50
Buy
7700
68.85
Buy
7500
57.95
61.10
138.90
7761.10
44.40
155.60
7455.60
Sell
7900
7.75
Sell
7300
13.55
Buy
7800
25.70
Buy
7400
27.50
17.95
82.05
7817.95
13.95
86.05
7386.05
Sell
7900
7.75
Sell
7300
13.55
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
3
Technical & Derivatives Report
March 22, 2016
Daily Pivot Levels for Nifty 50 Stocks
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,323
1,349
1,363
1,389
1,403
ADANIPORTS
234
239
242
247
250
AMBUJACEM
217
224
229
237
242
ASIANPAINT
840
850
862
872
885
AXISBANK
435
440
443
447
450
BAJAJ-AUTO
2,277
2,296
2,308
2,326
2,338
BANKBARODA
144
145
147
149
150
BHARTIARTL
339
346
351
358
362
BHEL
109
111
112
114
115
BOSCHLTD
18,442
18,897
19,188
19,642
19,934
BPCL
851
860
870
880
890
CAIRN
152
154
156
159
161
CIPLA
523
529
534
540
545
COALINDIA
293
295
297
298
300
DRREDDY
3,097
3,140
3,169
3,212
3,242
GAIL
356
360
364
368
372
GRASIM
3,598
3,666
3,708
3,776
3,818
HCLTECH
809
816
822
829
835
HDFC
1,117
1,134
1,145
1,162
1,173
HDFCBANK
1,027
1,036
1,042
1,051
1,057
HEROMOTOCO
2,754
2,777
2,800
2,823
2,846
HINDALCO
83
85
86
87
88
HINDUNILVR
834
857
870
893
906
ICICIBANK
230
232
234
236
238
IDEA
101
101
102
103
104
INDUSINDBK
917
925
931
938
944
INFY
1,172
1,184
1,191
1,203
1,210
ITC
321
326
331
336
341
KOTAKBANK
648
656
660
668
673
LT
1,180
1,204
1,218
1,242
1,257
LUPIN
1,465
1,500
1,536
1,571
1,607
M&M
1,211
1,219
1,225
1,233
1,239
MARUTI
3,577
3,623
3,651
3,697
3,725
NTPC
125
126
127
128
130
ONGC
211
214
216
218
220
PNB
84
85
86
88
89
POWERGRID
135
137
138
139
140
RELIANCE
1,015
1,026
1,034
1,045
1,053
SBIN
191
194
196
198
200
VEDL
91
93
94
95
96
SUNPHARMA
809
823
830
844
852
TATAMOTORS
362
368
372
378
382
TATAPOWER
58
59
59
60
60
TATASTEEL
298
301
303
306
309
TCS
2,405
2,426
2,440
2,461
2,475
TECHM
479
485
492
497
504
ULTRACEMCO
3,062
3,146
3,195
3,279
3,329
WIPRO
533
545
554
565
574
YESBANK
805
818
826
840
848
ZEEL
382
386
390
395
398
4
Technical & Derivatives Report
March 22, 2016
Research Team Tel: 022 - 39357800
For Technical Queries
For Derivatives Queries
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 MCX Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager 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 including its relatives/analyst do not hold any financial interest/beneficial
ownership of more than 1% in the company covered by Analyst. Angel or its associates/analyst has not received any compensation /
managed or co-managed public offering of securities of the company covered by Analyst during the past twelve months. Angel/analyst
has not served as an officer, director or employee of company covered by Analyst and has not been engaged in market making activity
of the company covered by Analyst.
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
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.
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.
Note: Please refer to the important ‘Stock Holding Disclosure' report on the Angel website (Research Section). Also, please refer to the
latest update on respective stocks for the disclosure status in respect of those stocks. Angel Broking Pvt. Limited and its affiliates may
have investment positions in the stocks recommended in this report.
5
