Technical & Derivatives Report
March 23, 2016
Sensex (25330) / Nifty (7715)
Exhibit 1: Nifty Daily Chart
Yesterday’s session opened on a subdued note in-line with
mixed global cues. After a minor surge in the initial hour, the
benchmark index saw some profit booking to test the 7650
mark. However, a strong buying interest during the
penultimate hour of the day pulled the index higher to
eventually conclude the day with negligible gains.
Yesterday’s v-shaped recovery from lows is a perfect example
of a strong optimism. Technically speaking, the Nifty managed
to find an intraday support around the hourly ’20 EMA’ placed
around 7637. Going forward, we maintain our view that the
Nifty is likely to continue this march towards 7750 - 7780
levels; where we would advise momentum traders to book at
least partial profits and to trail stop losses higher. However,
having said that, shorting is strictly avoided in such kind of
strong upward leg. On the downside, yesterday’s low of 7643
would now be seen as a strong support. Meanwhile, traders
should continue to focus on stock specific movements.
Key Levels
Support 1 - 7643
Resistance 1 - 7750
Support 2 - 7600
Resistance 2 -
7780
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (15936)
Yesterday, the Nifty Bank index traded range bound and
ended the session with negligible gain of 0.06% over its
previous close.
Yesterday, the banking index closed near the opening levels;
thus, the daily chart depicts a formation of 'Doji' candle.
However, the overall momentum in the stocks within the sector
continued to be positive. Unless any signs of reversal seen, the
short term trend continues to be up. The recent gap area of
15670-15735, which coincides with ’89 DEMA’ is a short term
support for the index. Traders are hence advised to keep stop
loss below the lower end of the mentioned range on their
existing long positions. The near term resistances are seen
around 16188 (December support breached in January) and
16256-16378 range (gap resistance).
Key Levels
Support 1 - 15735
Resistance 1 - 16188
Support 2 - 15670
Resistance 2 - 16378
1
Technical & Derivatives Report
March 23, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 0.12%
BankNifty futures open interest has increased by 4.67%
as market closed at 7714.90 levels.
The Nifty March future closed at a premium of 11.35
points against a premium of 9.10 points. The April series
closed at a premium of 53.20 points.
The Implied Volatility of at the money options has
decreased from 12.90% to 11.73%.
The total OI of the market is Rs. 2,50,614/- cr. and the
stock futures OI is Rs. 57,867 /- cr.
Few of the liquid counters where we have seen high cost
of carry are UNITECH, JPASSOCIAT, CROMPGREAV,
IDFC and ABIRLANUVO.
Views
FIIs continued to buy in both Cash market and Index
OI Gainers
Future segment. They bought equities to the tune of Rs.
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
1095 crores. While in Index Futures, they were net buyers
PTC
8704000
16.12
64.30
-0.31
of Rs. 200 crores with decent rise in OI, suggesting some
CADILAHC
3730500
15.78
321.90
-5.52
long addition in last trading session.
TVSMOTOR
4260000
12.58
317.80
3.77
In Index Options front, FIIs sold of worth Rs. 797 crores
DRREDDY
1538700
12.35
3064.15
-3.91
with some rise in OI. In call options, 7800 strike price
GODREJCP
260800
8.85
1299.30
-3.11
continues to add some fresh build-up, wfollowedrobyng.com
unwinding in 7500-7600 call options. While in put
options, 7700 strike was active and it also added some
OI Losers
fresh OI. Maximum OI in current series has shifted from
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
7700 to 7800 call options, and of put option is at 7600
TORNTPHARM
307600
-11.81
1417.10
4.87
strike. BankNifty from past 3-4 trading sessions have
TECHM
7301000
-6.49
485.70
-1.22
been continuously adding longs, we expect BankNifty to
NMDC
9365000
-5.50
99.40
2.47
test 16200-16300 levels in near future. Being long
AJANTPHARM
381600
-5.07
1390.40
2.52
weekend we may see some profit booking in market, but
IGL
1161600
-4.52
546.05
1.78
one should avoid selling.
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TATAPOWER
33.94
NIFTY
1.04
1.03
CADILAHC
42.04
BANKNIFTY
1.27
1.03
TITAN
45.95
SBIN
0.97
0.50
BOSCHLTD
39.75
LUPIN
0.39
0.46
DRREDDY
40.03
ICICIBANK
1.32
0.87
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 23, 2016
FII Statistics for 22-March 2016
Turnover on 22-March 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
2093.96
1893.64
200.32
356433
20071.22
2.03
316432
17188.82
-5.65
FUTURES
FUTURES
INDEX
INDEX
33666.34
34463.82
(797.48)
1568487
89339.35
0.61
4581600
257510.94
2.85
OPTIONS
OPTIONS
STOCK
3690.07
4816.57
(1126.51)
1053011
48892.50
0.52
STOCK
FUTURES
618849
30074.03
21.32
FUTURES
STOCK
STOCK
3117.36
3277.18
(159.81)
98302
4620.56
6.11
OPTIONS
382377
18888.46
14.98
OPTIONS
TOTAL
42567.73
44451.21
(1883.47)
3076233
162923.62
0.91
TOTAL
5899258
323662.25
4.47
Nifty Spot = 7714.95
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
7700
71.30
Buy
7700
45.80
45.45
54.55
7745.45
25.30
74.70
7674.70
Sell
7800
25.85
Sell
7600
20.50
Buy
7700
71.30
Buy
7700
45.80
63.75
136.25
7763.75
36.35
163.65
7663.65
Sell
7900
7.55
Sell
7500
9.45
Buy
7800
25.85
Buy
7600
20.50
18.30
81.70
7818.30
11.05
88.95
7588.95
Sell
7900
7.55
Sell
7500
9.45
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 23, 2016
Daily Pivot Levels for Nifty 50 Stocks
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,342
1,354
1,364
1,376
1,386
ADANIPORTS
233
236
240
243
247
AMBUJACEM
221
226
229
233
236
ASIANPAINT
839
846
853
860
867
AXISBANK
428
435
441
448
454
BAJAJ-AUTO
2,285
2,298
2,310
2,323
2,336
BANKBARODA
143
145
146
148
149
BHARTIARTL
339
345
351
357
363
BHEL
111
114
115
119
120
BOSCHLTD
18,889
19,531
19,970
20,612
21,052
BPCL
846
858
873
885
900
CAIRN
156
157
158
159
161
CIPLA
527
531
535
539
543
COALINDIA
290
292
296
298
302
DRREDDY
2,946
3,002
3,101
3,157
3,256
GAIL
355
358
363
366
370
GRASIM
3,712
3,730
3,753
3,772
3,795
HCLTECH
811
820
825
834
839
HDFC
1,121
1,145
1,159
1,183
1,197
HDFCBANK
1,034
1,044
1,050
1,060
1,066
HEROMOTOCO
2,711
2,786
2,828
2,903
2,945
HINDALCO
83
85
87
88
90
HINDUNILVR
853
861
871
880
889
ICICIBANK
229
231
233
235
237
IDEA
101
101
102
103
104
INDUSINDBK
915
921
929
936
944
INFY
1,163
1,177
1,185
1,199
1,207
ITC
317
320
325
329
334
KOTAKBANK
649
658
664
672
679
LT
1,212
1,225
1,235
1,248
1,258
LUPIN
1,521
1,535
1,550
1,564
1,579
M&M
1,203
1,228
1,247
1,272
1,291
MARUTI
3,612
3,656
3,696
3,740
3,780
NTPC
126
127
128
129
130
ONGC
213
214
217
219
221
PNB
84
85
86
87
88
POWERGRID
137
137
138
139
140
RELIANCE
1,029
1,038
1,045
1,055
1,062
SBIN
193
195
197
199
201
VEDL
92
94
96
98
99
SUNPHARMA
826
835
841
850
856
TATAMOTORS
365
371
376
382
387
TATAPOWER
58
60
61
63
64
TATASTEEL
297
304
308
314
318
TCS
2,416
2,445
2,465
2,493
2,513
TECHM
473
479
486
491
498
ULTRACEMCO
3,158
3,184
3,212
3,238
3,265
WIPRO
548
550
554
556
559
YESBANK
816
824
831
839
846
ZEEL
382
386
391
395
400
4
Technical & Derivatives Report
March 23, 2016
Research Team Tel: 022 - 39357800
For Technical Queries
For Derivatives Queries
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