Technical & Derivatives Report Sensex (32997) / Nifty (10124) Exhibit 1: Nifty Daily Chart Weak cues from the US bourses continue to put burden on our markets at least during the opening formalities. The similar thing was witnessed at the opening yesterday; however, we saw a v-shaped recovery right from the word go. In fact, due to emergence of buying at lower levels, the index went on to trade well within the positive territory during the course of action. Eventually, Nifty managed to reclaim the 10100 mark on a closing basis. Looking at the important swing low of 10033.35 and especially the kind of open interest pile-up seen in 10000 Puts, yesterday s recovery post the gap up opening was not so surprising. The question lies whether it s sustainable or not? If we have to take a directional bet then we continue to expect sliding below this level and entering sub-10000 levels in the near term. Since, it would not be wise to project time targets, we would advise traders to remain with the ongoing trend and avoid trading aggressively on long side in case of any bounce back. For the coming session, 10155 10224 continue to act as a strong hurdle; whereas on the downside, 10090 10033 would be seen as a crucial support zone for the current series. It s advisable to remain light and should ideally focus on individual stocks if Nifty remains within a range of 10224 10033 for next couple of days. Yesterday, although most of the beaten down stocks showed some life, the Pharma basket caught our eyes and have shown some promising signs. During the day, Nifty Pharma managed to recover from its multi-year lows, which coincides with multiple key technical indicators. Nifty Bank Outlook - (24168) Hence, we expect some decent moves in this space going forward. From this basket, Sunpharma remains to be our preferred bet, which we believe is poised for a decent up move in the near term. Key Levels Support 1 10090 Resistance 1 10155 Support 2 10033 Resistance 2 10224 Exhibit 2: Nifty Bank Daily Chart The Nifty Bank index consolidated in a range in yesterday's session and ended the day with a marginal loss of 0.32 percent. As the index has recently continued the 'Lower Top Lower Bottom' structure, the short-term trend for the Nifty Bank continues to be negative. For near term, the support is placed around the recent low of 24050 whereas the resistances are seen around 24355 and 24500. Traders are advised to avoid any bottom fishing and rather trade with a stock specific approach. Key Levels Support 1 24050 Resistance 1 24355 Support 2 23800 Resistance 2 24500
Comments The Nifty futures open interest has increased by 2.00% BankNifty futures open interest has decreased by 4.22% as market closed at 10124.35 levels. The Nifty February future closed with a premium of 18.85 points against a premium of 28.55 points in last trading session. The April series closed at a premium of 55.80 points. The INDIA VIX has decreased from 15.82 to 15.61. At the same time, the PCR- of Nifty has increased from 1.04 to 1.06 level. Few of the liquid counters where we have seen high cost of carry are CONCOR, ANDHRABANK, BANKINDIA, GODFRYPHLP and NHPC. Nifty Vs Views FIIs continued their buying streak in cash market segment to the tune of Rs. 344 crores. While, they sold worth Rs. 1516 crores in index futures with some rise in open interest, indicating blend of long unwinding and short formation in previous trading session. In index options front, they were net sellers of Rs. 1171 crores with marginal change in open interest. As far as Nifty options activities are concerned, we saw open interest addition in 10100 & 10150 call options along with some unwinding in 10400 and 10500 strikes. On the flip side, 9800-10100 put options added fresh positions, followed by unwinding in 10400 strike. Maximum open interest concentration is still firmly placed in 10500 call and 10000 put options. Yesterday index opened with a downside gap; but, soon recovered to end the session above 10100 mark. We saw fresh open interest addition in Nifty futures; indicating some buying interest near the support zone of 10000-10050 levels. However, stronger hands still hold majority of short positions in index futures segment. Considering above data, we believe market may soon correct below 10000 mark; thus, one should avoid bottom fishing and prefer adding shorts on bounce back. Gainers NIITTECH 1591500 16.59 918.05 4.05 HEXAWARE 5082000 14.54 374.45 3.04 INDIGO 3955200 12.22 1242.95 2.45 BANKINDIA 29910000 8.35 100.70 0.70 TV18BRDCST 84269000 8.11 64.50 0.54 JINDALSTEL 40113000 6.32 233.55 5.89 CUMMINSIND 825000 6.26 744.70-1.32 ANDHRABANK 26190000 6.25 42.55 1.78 Losers TATASTEEL 31358916-8.75 593.00 3.16 CIPLA 8891000-7.33 552.90-1.11 BATAINDIA 2312200-7.16 693.00 2.35 SAIL 97680000-5.02 72.25 4.55 AMARAJABAT 1500100-4.84 784.30 1.10 RECLTD 39294000-4.69 127.10 1.80 CANFINHOME 5628750-4.58 522.60-1.38 PFC 76518000-4.01 88.95 1.37 Historical Volatility HV MARICO 32.73 INFRATEL 39.98 EICHERMOT 31.89 RELINFRA 61.55 NESTLEIND 22.36 Put-Call Ratio PCR- PCR-VOL NIFTY 1.06 0.89 BANKNIFTY 0.92 0.69 SUNPHARMA 0.39 0.38 PNB 0.77 0.37 SBIN 0.50 0.36
FII Statistics for March 20, 2018 Turnover on March 20, 2018 Detail Buy Sell Net Contracts Open Interest Value (in Cr.) Change (%) 1800.06 3316.53 (1516.47) 294744 23125.23 0.55 80332.71 81504.16 (1171.46) 939044 73950.78 0.12 8794.37 7997.15 797.22 1141606 78316.33 (0.13) 5930.79 6079.69 (148.91) 115756 7996.64 1.29 Instrument No. of Contracts Turnover ( in Cr. ) Change (%) 347482 29288.49 15.39 5412044 466503.25-12.67 785142 54596.73 10.98 528928 38547.64 6.62 Total 96857.92 98897.53 (2039.61) 2491150 183388.98 0.11 TOTAL 7073596 588936.11-8.68 Nifty Spot = 10124.35 Lot Size = 75 Bull-Call Spreads Action Strike Price Risk Reward BEP Bear-Put Spreads Action Strike Price Risk Reward BEP Buy 10100 111.55 Sell 10200 61.60 49.95 50.05 10149.95 Buy 10100 74.00 Sell 10000 45.55 28.45 71.55 10071.55 Buy 10100 111.55 Sell 10300 29.10 82.45 117.55 10182.45 Buy 10100 74.00 Sell 9900 26.60 47.40 152.60 10052.60 Buy 10200 61.60 Sell 10300 29.10 32.50 67.50 10232.50 Buy 10000 45.55 Sell 9900 26.60 18.95 81.05 9981.05 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
Daily Pivot Levels for Nifty Constituents Scrips S2 S1 PIVOT R1 R2 ADANIPORTS 364 363 367 374 379 AMBUJACEM 231 228 231 233 236 ASIANPAINT 1,103 1,093 1,105 1,118 1,130 AUROPHARMA 573 566 570 576 580 AXISBANK 519 512 518 528 534 BAJAJ-AUTO 2,849 2,839 2,864 2,897 2,922 BAJFINANCE 1,632 1,627 1,645 1,675 1,693 BPCL 431 419 429 435 445 BHARTIARTL 400 394 399 405 410 INFRATEL 325 329 336 349 357 BOSCHLTD 17,515 17,545 17,772 18,105 18,332 CIPLA 560 530 546 569 585 COALINDIA 272 268 271 273 276 DRREDDY 2,120 2,118 2,141 2,179 2,202 EICHERMOT 27,403 27,666 28,045 28,740 29,119 GAIL 442 435 440 444 450 HCLTECH 927 919 934 951 966 HDFCBANK 1,847 1,831 1,844 1,852 1,864 HDFC 1,775 1,778 1,793 1,815 1,831 HEROMOTOCO 3,515 3,496 3,516 3,535 3,555 HINDALCO 215 212 215 221 224 HINDPETRO 352 349 354 360 366 HINDUNILVR 1,309 1,306 1,313 1,321 1,328 IBULHSGFIN 1,188 1,182 1,193 1,209 1,220 ICICIBANK 295 289 293 296 300 IOC 178 172 175 177 180 INDUSINDBK 1,719 1,700 1,719 1,736 1,755 INFY 1,147 1,152 1,161 1,174 1,182 ITC 259 258 259 260 261 KOTAKBANK 1,049 1,039 1,045 1,052 1,058 LT 1,280 1,279 1,290 1,304 1,315 LUPIN 767 761 768 778 784 M&M 743 734 739 746 751 MARUTI 8,774 8,743 8,794 8,854 8,905 NTPC 167 165 166 168 169 ONGC 177 173 175 177 179 POWERGRID 194 193 195 196 198 RELIANCE 896 883 894 900 911 SBIN 248 246 249 252 256 SUNPHARMA 498 498 505 515 522 TCS 2,831 2,832 2,852 2,886 2,907 TATAMOTORS 336 335 338 342 344 TATASTEEL 575 574 587 606 620 TECHM 610 613 624 645 656 ULTRACEMCO 3,972 3,898 3,949 3,987 4,037 UPL 702 698 708 722 732 VEDANTA 307 283 288 292 297 WIPRO 289 287 291 298 302 YESBANK 305 299 303 306 309 ZEEL 566 566 571 581 586
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