Technical & Derivatives Report
February 23, 2016
Sensex (23789) / Nifty (7235)
Exhibit 1: Nifty Daily Chart
The opening session of the week began marginally in the
positive territory citing positive global cues. During the
remaining part of the day, the Nifty maintained its positive
bias; but, the overall intraday range was quite narrow.
Eventually, the Nifty ended the session with the gains of one
third of a percent over its previous session.
Going forward, we expect this momentum to continue and in
the process, the Nifty may gradually move towards the 7280
mark. In the coming session, we may expect similar movement
in the index; but, lots of individual stocks are likely to
outperform. Thus, traders should maintain their stock centric
approach by following strict stop losses. Immediate support for
the indx is placed at 7190 and 7127 levels; while, resistance is
seen at 7280 and 7350 levels.
Key Levels
Support 1 - 7190
Resistance 1 - 7280
Support 2 - 7127
Resistance 2 -
7350
Exhibit 2: Bank Nifty Weekly Chart
Bank Nifty Outlook - (14385)
In yesterday's trading session too, the Nifty Bank index traded
in a narrow range and had formed a small body candle to
end the session with marginal gains of about 0.28% over its
previous session.
Last three trading sessions have been range bound and have
not changed any set ups; thus we continue with our view of a
possibility of bounce in the index upto 14570-14600 in near
term. Traders can take stock specific approach in stocks within
the sector and trade with proper risk management strategy.
The near term support for index is placed around 14120 and
13890; whereas, resistances are seen around 14525 and
14600.
Key Levels
Support 1 - 14120
Resistance 1 - 14525
Support 2 - 13890
Resistance 2 - 14600
1
Technical & Derivatives Report
February 23, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 1.04%
BankNifty futures open interest has increased by 7.91%
as market closed at 7234.55 levels.
The Nifty February future closed at a premium of 6.15
points against a premium of 1.70 points. The March
series closed at a premium of 23.70 points.
The Implied Volatility of at the money options has
increased from 16.13% to 16.74%.
The total OI of the market is Rs. 2,51,586/- cr. and the
stock futures OI is Rs. 62,429/- cr.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, JPASSOCIAT, ALBK, BHEL and
IDFC.
Views
OI Gainers
OI
PRICE
FIIs were net sellers in both index future and cash market
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
segment yesterday. They sold equities to the tune of Rs.
BAJFINANCE
228875
21.99
6023.90
-0.80
656 crores. While in Index Futures, they sold worth Rs.
OFSS
183900
14.47
3264.50
0.04
378 crores with rise in open interest, indicating fresh
TV18BRDCST
74154000
13.95
37.10
0.95
short formation in last trading session.
BEML
690000
12.29
1039.45
6.57
In Index Options front, the overall activity was subdued.
IDFC
86862600
11.87
40.85
-0.85
In call options, 7300 and 7400 strike added some OI.
Whereas, in put options, some build-up was visible in
OI Losers
7200 strike. Maximum OI in current series is visible in
OI
PRICE
7400 call and 7200 put options. Rollover in Nifty and
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
BankNifty is at 26.89% and 23.16% respectively. Large
UNITECH
254331000
-10.80
3.90
2.63
cap counters that added good amount of OI are
WIPRO
8043000
-10.79
542.05
-1.08
MARUTI, COALINDIA, HEROMOTOCO, BPCL and
SBIN
83092000
-8.98
164.90
0.24
NTPC.
AMARAJABAT
561000
-7.79
889.75
0.20
ACC
2280000
-7.54
1283.65
0.75
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
HINDUNILVR
34.21
NIFTY
0.78
0.91
MARICO
36.32
BANKNIFTY
0.77
0.87
ULTRACEMCO
30.42
SBIN
0.54
0.43
BOSCHLTD
37.79
ICICIBANK
0.40
0.42
GRASIM
21.68
MARUTI
0.41
0.54
Strategy Date
Symbol
Strategy
Status
February 01, 2016
BHEL
Bull Call Spread
Active
February 08, 2016
NIFTY
Short Strangle
Marginal loss booked on 22-02-2016
February 15, 2016
AXISBANK
Bull Call Spread
Active
February 22, 2016
HINDUNILVR
Long Call
Not Activated
2
Technical & Derivatives Report
February 23, 2016
FII Statistics for 22-February 2016
Turnover on 22-February 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
3504.57
3882.89
(378.32)
343810
17826.59
4.50
305607
15230.96
-1.96
FUTURES
FUTURES
INDEX
INDEX
25380.82
25300.46
80.36
1468069
78041.07
(0.54)
3997625
210281.49
-11.09
OPTIONS
OPTIONS
STOCK
16773.86
16420.07
353.80
1207833
51988.29
2.41
STOCK
FUTURES
1029042
44775.35
70.16
FUTURES
STOCK
STOCK
1851.03
1918.06
(67.02)
91989
3855.65
1.02
OPTIONS
291062
12751.62
-8.50
OPTIONS
TOTAL
47510.29
47521.48
(11.18)
3111701
151711.60
1.18
TOTAL
5623336
283039.41
-3.17
Nifty Spot = 7234.55
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7300
17.00
Buy
7200
26.15
13.50
86.50
7313.50
17.90
82.10
7182.10
Sell
7400
3.50
Sell
7100
8.25
Buy
7300
17.00
Buy
7200
26.15
15.90
184.10
7315.90
23.30
176.70
7176.70
Sell
7500
1.10
Sell
7000
2.85
Buy
7400
3.50
Buy
7100
8.25
2.40
97.60
7402.40
5.40
94.60
7094.60
Sell
7500
1.10
Sell
7000
2.85
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Feb. Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
3
Technical & Derivatives Report
February 23, 2016
Daily Pivot Levels for Nifty 50 Stocks
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,259
1,270
1,279
1,290
1,298
ADANIPORTS
200
203
207
210
215
AMBUJACEM
194
195
196
197
198
ASIANPAINT
847
859
866
878
885
AXISBANK
388
393
396
400
403
BAJAJ-AUTO
2,437
2,457
2,471
2,491
2,505
BANKBARODA
134
137
139
142
144
BHARTIARTL
316
322
329
335
342
BHEL
99
100
102
103
104
BOSCHLTD
16,634
16,974
17,231
17,571
17,828
BPCL
739
749
760
770
780
CAIRN
129
130
132
133
134
CIPLA
522
526
529
533
536
COALINDIA
308
311
313
317
319
DRREDDY
3,047
3,078
3,098
3,128
3,148
GAIL
311
316
323
328
335
GRASIM
3,405
3,444
3,469
3,508
3,533
HCLTECH
836
841
845
850
855
HDFC
1,041
1,050
1,057
1,065
1,073
HDFCBANK
976
983
989
996
1,002
HEROMOTOCO
2,648
2,675
2,702
2,729
2,756
HINDALCO
68
69
70
70
71
HINDUNILVR
812
837
851
876
891
ICICIBANK
194
196
199
201
204
IDEA
107
108
110
111
112
INDUSINDBK
832
838
847
853
862
INFY
1,105
1,116
1,125
1,136
1,145
ITC
289
295
299
304
308
KOTAKBANK
628
634
638
644
648
LT
1,125
1,137
1,153
1,165
1,181
LUPIN
1,766
1,789
1,803
1,825
1,840
M&M
1,222
1,230
1,239
1,247
1,256
MARUTI
3,466
3,493
3,519
3,547
3,573
NTPC
122
124
129
131
135
ONGC
209
212
213
216
218
PNB
73
74
76
77
79
POWERGRID
137
138
140
141
143
RELIANCE
934
948
958
972
982
SBIN
162
164
165
167
168
VEDL
71
73
74
75
77
SUNPHARMA
861
872
879
890
897
TATAMOTORS
308
314
319
324
329
TATAPOWER
58
58
59
59
60
TATASTEEL
249
252
255
258
261
TCS
2,283
2,300
2,321
2,338
2,359
TECHM
418
425
433
440
449
ULTRACEMCO
2,817
2,870
2,900
2,953
2,983
WIPRO
531
537
542
548
554
YESBANK
703
708
714
719
725
ZEEL
378
386
390
398
402
4
Technical & Derivatives Report
February 23, 2016
Research Team Tel: 022 - 39357800
For Technical Queries
For Derivatives Queries
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