Technical & Derivatives Report
October 28, 2016
Sensex (27916) / Nifty (8615)
Exhibit 1: Nifty Daily Chart
The opening tick during yesterday's session was slightly inside the
negative territory. However, the selling pressure aggravated
during the first half and as a result, the Nifty corrected towards
our mentioned support level of 8550. However, we witnessed a
v-shaped recovery towards the fag end to reclaim the 8600 mark.
This recovery has resulted into a formation of 'Dragonfly Doji'
pattern on daily chart. A sustainable move above its high may
lead to an extended bounce in the index. However, we believe
that the Nifty may probably face a strong resistance around 8640
- 8660 levels. On the downside, 8580 - 8550 would be seen as
immediate support levels.
Key Levels
Support 1 - 8580
Resistance 1 - 8640
Support 2 - 8550
Resistance 2 - 8660
Exhibit 2: Nifty Bank Daily Chart
Nifty Bank Outlook - (19515)
Yesterday, the Nifty Bank index continued with its previous
session's bearish momentum as the index opened with marginal
loss and corrected sharply in initial hour of trades. The index then
consolidated in a narrow range for few hours and recovered the
losses in the concluding hour to post a positive closing.
The recent correction in Nifty Bank index was on our expected
lines as we had already initiated a 'Sell' call in the index future on
Tuesday. Yesterday, we witnessed a formation of 'Bullish Crab'
pattern on hourly chart, and thus, we suggested to book profits in
the short position. Going forward, the index may consolidate in a
range for couple of sessions before the next directional move.
Hence, intraday traders are advised to focus on stock specific
moves and trade with proper risk management. The immediate
supports for the Nifty Bank index are placed at 19330 and 19200
levels; whereas resistance is seen at 19650-19700 zone.
Key Levels
Support 1 - 19330
Resistance 1 - 19650
Support 2 - 19200
Resistance 2 - 19700
1
Technical & Derivatives Report
October 28, 2016
Comments
Nifty Vs OI
The Nifty futures open interest has decreased by 26.06%
BankNifty futures open interest has decreased by 29.86%
as market closed at 8615.25 levels.
The Nifty November future closed with a premium of
40.00 against the premium of 42.75 points in last
trading session. The December series closed at a
premium of 93.45 points.
The Implied Volatility of at the money options has
decreased from 15.33% to 13.13%. At the same time,
the PCR-OI of Nifty has increased from 0.90 to 0.97
levels.
The total OI of the market is Rs. 2,01,831/- cr. and the
stock futures OI is Rs. 74,651/- cr.
Few of the liquid counters where we have seen high cost
of carry are TATACOMM, JINDALSTEL, IBREALEST,
JPASSOCIAT and KPIT.
Views
OI Gainers
Yesterday, FIIs continue to sell in cash market segment to
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
the tune of Rs. 470 crores. While, in index futures, they
IBREALEST
36910000
9.62
88.00
1.62
were net buyers worth Rs. 819 crores with significant fall
TATACHEM
7012500
5.67
542.20
-1.54
in open interest, due to expiry.
-
-
-
-
-
On Index Options front, FIIs bought of worth Rs. 819ng.com
-
-
-
-
-
crores with fall in OI. In call options, 8600, 8800 and
-
-
-
-
-
8900 strikes were active and added good amount of
-
-
-
-
-
build-up. On the other hand, in put options, 8200-8600
-
-
-
-
-
strikes added fresh positions. Maximum OI in November
-
-
-
-
-
series has been placed at 9000 call and 8500 put
options.
Rollovers in Nifty and BankNifty in percentage term are
OI Losers
above last expiry but in terms of open interest it’s on the
OI
PRICE
SCRIP
OI
PRICE
CHG. (%)
CHG. (%)
lower side. Most of the longs formed in past two-three
COLPAL
798700
-59.50
940.65
1.39
series have been lighten up, due to which November
DIVISLAB
1291800
-42.23
1284.50
0.22
series is starting with low open interest. We believe,
CANBK
9048000
-37.87
315.50
-0.17
shorts formed in last few trading sessions are intact and
PCJEWELLER
643500
-37.28
509.75
-0.49
we may see some further downside in start of current
CEATLTD
1243200
-34.63
1205.45
-2.25
series. Large cap counter that started November series
HINDZINC
5824000
-32.97
250.50
-0.85
with high rollovers are ZEEL, GAIL, TATAMOTORS,
AMBUJACEM and AXISBANK.
GODREJCP
307600
-31.03
1586.25
-0.33
ICICIBANK
45882500
-30.07
285.25
1.84
Historical Volatility
Put-Call Ratio
SCRIP
HV
SCRIP
PCR-OI
PCR-VOL
TORNTPHARM
52.59
NIFTY
0.97
0.95
EXIDEIND
45.43
BANKNIFTY
0.87
0.66
MRF
55.37
AXISBANK
0.34
0.39
JUSTDIAL
42.90
RELIANCE
0.48
0.50
ASIANPAINT
30.07
ICICIBANK
0.55
0.56
2
Technical & Derivatives Report
October 28, 2016
FII Statistics for 27, October 2016
Turnover on 27, October 2016
Open Interest
No. of
Turnover
Change
Detail
Buy
Sell
Net
Instrument
Value
Change
Contracts
( in Cr. )
(%)
Contracts
(in Cr.)
(%)
INDEX
INDEX
5443.61
4624.39
819.22
206033
13724.57
(29.15)
500552
34256.35
30.69
FUTURES
FUTURES
INDEX
INDEX
75903.30
72673.21
3230.09
707072
46210.03
(38.46)
10930304
760413.86
69.68
OPTIONS
OPTIONS
STOCK
25603.73
27416.26
(1812.53)
816896
53853.41
(16.35)
STOCK
FUTURES
1739442
120653.65
18.22
FUTURES
STOCK
STOCK
5421.64
5187.35
234.29
5783
368.14
(95.60)
OPTIONS
614496
46015.12
3.84
OPTIONS
TOTAL
112372.28
109901.21
2471.07
1735784
114156.16
(31.87)
TOTAL
13784794
961338.98
54.87
Nifty Spot = 8615.25
Lot Size = 75
Bull-Call Spreads
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Action
Strike
Price
Risk
Reward
BEP
Buy
8700
100.05
Buy
8600
101.60
41.30
58.70
8741.30
32.00
68.00
8568.00
Sell
8800
58.75
Sell
8500
69.60
Buy
8700
100.05
Buy
8600
101.60
69.00
131.00
8769.00
54.70
145.30
8545.30
Sell
8900
31.05
Sell
8400
46.90
Buy
8800
58.75
Buy
8500
69.60
27.70
72.30
8827.70
22.70
77.30
8477.30
Sell
8900
31.05
Sell
8400
46.90
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Put-Call Analysis
3
Technical & Derivatives Report
October 28, 2016
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ACC
1,498
1,514
1,530
1,545
1,561
ADANIPORTS
295
300
304
309
314
AMBUJACEM
238
241
245
248
252
ASIANPAINT
1,047
1,066
1,100
1,119
1,154
AUROPHARMA
791
800
808
818
826
AXISBANK
472
479
484
491
496
BAJAJ-AUTO
2,700
2,731
2,782
2,813
2,865
BANKBARODA
150
152
154
155
157
BHEL
135
137
138
140
141
BPCL
659
668
674
683
689
BHARTIARTL
309
316
321
328
333
INFRATEL
342
348
358
364
374
BOSCH
21,845
21,998
22,252
22,405
22,659
CIPLA
563
573
580
590
598
COALINDIA
312
314
317
319
322
DRREDDY
3,209
3,267
3,300
3,358
3,391
EICHERMOT
23,796
24,198
24,461
24,863
25,126
GAIL
428
432
434
438
441
GRASIM
939
949
963
973
987
HCLTECH
763
769
778
785
793
HDFCBANK
1,212
1,232
1,244
1,265
1,277
HDFC
1,309
1,344
1,363
1,398
1,418
HEROMOTOCO
3,206
3,260
3,355
3,409
3,504
HINDALCO
145
147
149
150
152
HINDUNILVR
805
822
836
854
868
ICICIBANK
271
278
281
288
291
IDEA
75
76
78
79
80
INDUSINDBK
1,154
1,167
1,184
1,196
1,213
INFY
991
998
1,008
1,015
1,025
ITC
237
240
243
245
248
KOTAKBANK
795
801
806
812
817
LT
1,446
1,460
1,471
1,486
1,497
LUPIN
1,453
1,469
1,489
1,505
1,525
M&M
1,280
1,290
1,303
1,313
1,326
MARUTI
5,714
5,798
5,873
5,957
6,032
NTPC
149
151
152
153
154
ONGC
277
284
291
297
304
POWERGRID
172
173
175
177
178
RELIANCE
1,039
1,045
1,049
1,055
1,060
SBIN
252
254
256
258
260
SUNPHARMA
731
739
745
753
758
TCS
2,340
2,379
2,404
2,443
2,468
TATAMTRDVR
326
332
337
343
348
TATAMOTORS
505
513
520
528
535
TATAPOWER
77
78
79
81
82
TATASTEEL
377
387
394
404
410
TECHM
405
411
419
425
433
ULTRACEMCO
3,887
3,919
3,944
3,976
4,001
WIPRO
451
457
465
470
479
YESBANK
1,208
1,233
1,267
1,292
1,326
ZEEL
487
496
508
517
530
4
Technical & Derivatives Report
October 28, 2016
Research Team Tel: 022 - 39357800
For Technical Queries
For Derivatives Queries
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