Sensex (33352) / Nifty (10243) Exhibit 1: Nifty Daily Chart Yesterday s gap up opening was mainly on the back of some relief seen across the globe. During the first half, we saw index facing strong selling pressure around previous day s high and as a result, corrected back towards the 10140 mark. However, this was followed by a v-shaped recovery towards the fag end to conclude the session almost at the highest point of the day. It was a good day for intraday traders as we saw clear swing in both directions. We were not surprised with the bounce we witnessed yesterday as we had highlighted avoiding shorts if index trades around the support zone in the first half. This rebound was mainly provided by the beaten down banking conglomerates, which are poised for a bit of further relief move. Hence, we may see Nifty extending this bounce back towards 10300-10340 levels. Having said that this development will not change the broader sell on rise picture. During the day, one should ideally look to focus on individual stocks which are likely to provide better opportunities. For the directional traders, this bounce back in index would give better opportunities to create short positions at higher levels. For the coming session, the support zone would be seen at 10200-10140. Key Levels Support 1 10200 Resistance 1 10300 Support 2 10140 Resistance 2 10340 Nifty Bank Outlook - (24478) Along with the broader markets, the Nifty Bank index too showed some signs of relief yesterday as it pulled back higher in latter half of the session to conclude with gains of 1.42 percent. Exhibit 2: Nifty Bank Daily Chart As we had mentioned in yesterday's outlook, the momentum readings on the lower time frame charts were in oversold zone and thus a pullback or consolidation was expected. Several index heavyweights including the PSU Banks which had seen sharp selloff in the recent past too witnessed a pullback. While the broader trend continues to remain negative, we could see some further pullback/consolidation in near term. Traders are hence advised to trade on stock specific momentum with proper risk management. This pullback could extend up to the resistances seen around 24785 and 24925. On the flipside, 24000 followed by 23820 are seen as immediate supports for the index. Key Levels Support 1 24000 Resistance 1 24785 Support 2 23820 Resistance 2 24925
Comments The Nifty futures open interest has decreased by 1.50% BankNifty futures open interest has increased by 2.99% as market closed at 10242.65 levels. The Nifty February future closed with a premium of 0.30 points against a premium of 17.35 points in last trading session. The March series closed at a premium of 36.15 points. The INDIA VIX has decreased from 15.70 to 14.58. At the same time, the PCR- of Nifty has increased from 1.09 to 1.15 level. Few of the liquid counters where we have seen high cost of carry are GODREJCP, DHFL, DABUR, ORIENTBANK and ANDHRABANK. Nifty Vs Views FIIs were net sellers in cash market segment to the tune of Rs. 365 crores. While, they bought in index futures of Rs. 325 crores with good amount of rise in open interest, indicating formation of both long and short positions in previous trading session. In index options front, they bought of Rs. 540 crores with fall in open interest. In call option, some build-up was seen in 10350 and 10500 strikes; followed by good amount of unwinding in 10600 call option. On the flip side, 9900-10200 put options added fresh positions along with decent unwinding in 9700 strike. Maximum concentration of open interest is now visible in 10500 call and 10000 put options. Post decent correction, index recouped some of its losses yesterday on back of short covering. Stronger hands rolled over majority of their index futures shorts to March series and they have been consistently adding fresh positions; wherein, majority are on short side. Now, their index futures Long Short ratio is at 48%, which certainly does not bode well for the Bulls. Considering the above data points, we believe we may see some recovery in index but one should avoid forming aggressive longs in index and rather prefer stock specific approach. Gainers TORNTPHARM 459000 20.95 1317.80-0.68 BALRAMCHIN 20520500 19.90 89.95-6.81 BEML 2636100 12.42 1137.30-4.64 UJJIVAN 4950400 11.42 343.10 1.32 PTC 23088000 11.30 91.40-1.34 ADANIPORTS 13802500 11.18 387.95 2.91 JUSTDIAL 4314800 10.98 436.90 2.92 MFSL 2646000 9.20 480.40 0.46 Losers INFRATEL 7663600-14.99 331.20 0.79 RELINFRA 10769200-10.13 427.00 4.07 IDBI 48770000-9.53 74.80-6.08 CANBK 14043200-9.00 251.15 0.28 ALBK 16400000-7.61 46.50 0.86 HDIL 33102000-6.89 42.25-3.75 TATACHEM 5661000-6.07 695.05 2.56 PVR 664800-5.73 1305.10 1.42 Historical Volatility HV RECLTD 50.15 L 30.92 BALRAMCHIN 72.81 ASIANPAINT 19.80 SBIN 43.99 Put-Call Ratio PCR- PCR-VOL NIFTY 1.15 0.80 BANKNIFTY 1.09 0.79 PNB 0.83 0.44 SUNPHARMA 0.42 0.43 FORTIS 0.71 0.69
FII Statistics for March 08, 2018 Turnover on March 08, 2018 Detail Buy Sell Net Contracts Open Interest Value (in Cr.) Change (%) 2791.02 2466.31 324.71 222011 17728.68 6.03 142446.71 141906.54 540.16 802053 63450.22 (1.73) 9477.75 9103.97 373.77 1093518 75306.11 0.49 6632.71 6920.53 (287.82) 88322 6130.98 10.08 Instrument No. of Contracts Turnover ( in Cr. ) Change (%) 341692 29114.41-1.41 16536729 1561923.42 108.52 770601 51953.28-4.27 502823 35931.92-4.98 Total 161348.18 160397.36 950.83 2205904 162615.98 0.54 TOTAL 18151845 1678923.04 92.84 Nifty Spot = 10242.65 Lot Size = 75 Bull-Call Spreads Action Strike Price Risk Reward BEP Bear-Put Spreads Action Strike Price Risk Reward BEP Buy 10300 91.75 Sell 10400 55.30 36.45 63.55 10336.45 Buy 10200 106.15 Sell 10100 73.10 33.05 66.95 10166.95 Buy 10300 91.75 Sell 10500 30.10 61.65 138.35 10361.65 Buy 10200 106.15 Sell 10000 50.60 55.55 144.45 10144.45 Buy 10400 55.30 Sell 10500 30.10 25.20 74.80 10425.20 Buy 10100 73.10 Sell 10000 50.60 22.50 77.50 10077.50 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 360 374 384 397 407 AMBUJACEM 229 233 235 239 241 ASIANPAINT 1,099 1,113 1,122 1,136 1,144 AUROPHARMA 574 582 592 599 610 AXISBANK 501 511 517 527 534 BAJAJ-AUTO 2,866 2,895 2,920 2,949 2,974 BAJFINANCE 1,576 1,602 1,620 1,646 1,664 BPCL 425 434 440 449 456 BHARTIARTL 384 393 403 412 423 INFRATEL 313 322 333 342 353 BOSCHLTD 17,545 17,820 17,985 18,260 18,425 CIPLA 569 573 579 583 589 COALINDIA 299 302 305 309 312 DRREDDY 2,097 2,120 2,151 2,174 2,205 EICHERMOT 27,239 27,475 27,662 27,899 28,086 GAIL 426 431 439 444 452 HCLTECH 935 943 953 961 972 HDFCBANK 1,821 1,837 1,848 1,864 1,874 HDFC 1,759 1,779 1,791 1,811 1,823 HEROMOTOCO 3,522 3,555 3,578 3,610 3,633 HINDALCO 213 218 223 228 232 HINDPETRO 349 355 360 365 370 HINDUNILVR 1,273 1,283 1,294 1,304 1,316 IBULHSGFIN 1,174 1,190 1,206 1,222 1,238 ICICIBANK 286 291 295 300 303 IOC 374 378 381 385 389 INDUSINDBK 1,662 1,678 1,698 1,714 1,734 INFY 1,140 1,149 1,157 1,165 1,174 ITC 255 257 260 261 264 KOTAKBANK 1,064 1,073 1,083 1,092 1,102 LT 1,247 1,265 1,278 1,296 1,308 LUPIN 741 756 765 780 789 M&M 699 713 721 735 743 MARUTI 8,594 8,662 8,718 8,786 8,842 NTPC 161 163 165 167 168 ONGC 177 179 181 182 184 POWERGRID 191 193 195 197 198 RELIANCE 885 898 906 920 928 SBIN 239 248 253 262 267 SUNPHARMA 497 506 518 527 539 TCS 2,948 2,976 3,015 3,043 3,083 TATAMOTORS 335 340 346 351 357 TATASTEEL 615 625 643 654 671 TECHM 595 601 609 615 623 ULTRACEMCO 4,036 4,078 4,106 4,148 4,175 UPL 694 703 708 717 722 VEDANTA 294 301 309 316 324 WIPRO 281 283 285 288 290 YESBANK 287 298 306 316 324 ZEEL 555 559 565 569 574
Research Team Tel: 022-39357800 Website: For Technical Queries For Derivatives Queries E-mail: technicalresearch-cso@angelbroking.com E-mail: derivatives.desk@angelbroking.com 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 Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and Portfolio Manager and Investment Adviser 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/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. 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 the merits and risks of such an investment. 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. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the contrary view, if any. 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.