Technical & Derivatives Report

April 20, 2016

Exhibit 1: Nifty Daily Chart

Sensex (25816) / Nifty (7915)

On Monday, finally, the Nifty reached and closed marginally
above the mostly observed technical evidence i.e. 200 SMA
placed around 7875. Generally, this development is considered
as a positive signal for the market. But, on this occasion, despite
seeing a strong momentum in last four sessions, we are a bit
skeptical about going long at current level (at least in indices).
The important reason behind this approach is the strong hurdle at
7972 (January month swing high) which is likely to act as an
immediate hurdle. Also, prices crossing 200 SMA for 2 3 days
cannot be considered as an extremely bullish signal. We need to
wait for the index to sustain and maintain its position above this
hurdle in order to expect a move beyond the 8000 mark. Thus, as
of now, traders are advised to lighten up their long positions in
index in the zone of 7930 7972 and then wait for further
developments. In case of a minor profit booking, we may see
Nifty correcting back to 7842 7775 levels. Traders are advised
to keep focusing on individual stocks which have a strong chart
structure.
Key Levels
Support 1 7842

Resistance 1 7930

Support 2 7775

Resistance 2 7972

Exhibit 2: Nifty Bank Daily Chart

Nifty Bank Outlook - (16223)

The Nifty Bank index opened on a flat note on Monday and
started correcting from the first tick. Post the sharp correction in
initial hour of trade, the banking index rebounded from lower
levels and traded in a sideways direction for remaining part of the
session. Eventually, the Nifty Bank index closed with marginal loss
of 0.34 percent over its previous close.
The overall chart structure remains positive as there is no sign of
reversal seen on charts. Currently, the index is trading near its
resistance of 127% reciprocal retracement level (16500 - 16550)
of the previous corrective move from 16283 to 15440, which
coincides with the Super Trend resistance and 89 EMA on
weekly chart. However, we should not pre-emt any reversal as of
now and wait for further developments. Traders are hence
advised to continue to trade in the direction of the trend and
follow strict risk management strategy on their trading positions.
Intraday support for Nifty Bank is placed around 16140 and
15975 whereas resistance are seen around 16390 and 16510.
Key Levels
Support 1 16140

Resistance 1 16390

Support 2 15975

Resistance 2 16510

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Technical & Derivatives Report

April 20, 2016

Comments

Nifty Vs OI

The Nifty futures open interest has decreased by 0.46%

BankNifty futures open interest has decreased by 2.16%
as market closed at 7914.70 levels.
The Nifty April future closed at a premium of 5.60 points
against a premium of 17.40 points. The May series
closed at a premium of 41.10 points.
The Implied Volatility of at the money options has
increased from 13.10% to 15.16%.
The total OI of the market is Rs. 2,21,662/- cr. and the
stock futures OI is Rs. 57,214/- cr.
Few of the liquid counters where we have seen high cost
of carry are JPASSOCIAT, UNITECH, GMRINFRA,
ADANIPOWER and GODREJIND.

Views

FIIs continue buying in cash market segment; they

bought equities to the tune of Rs. 978 crores. While in
Index Futures, they were net buyers of Rs. 631 crores with
decline in OI, suggesting covering of shorts in last
trading session.

OI Gainers
SCRIP

OI

CUMMINSIND
VOLTAS

TITAN
In Index Options front, FIIs were net buyers of Rs. 655
crores with some rise in OI. In call options, we hardly
TCS
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saw any meaningful OI addition. 8100
call options
DABUR
remained comparatively active in terms of volume and it
also added some build-up. Whereas, in put options,
OI Losers
build-up was scattered in the range of 7500-7900
SCRIP
strikes. Huge OI addition was visible in 7800 put
options. Maximum OI in current series is visible in 8000
PIDILITIND
call and 7500 put options. After continuous profit
ICICIBANK
booking, we witnessed formation of fresh long positions
HDFC
in Index Futures in last week. One should trade with a
JSWENERGY
positive bias till we see any meaningful change in data.

PRICE
CHG. (%)

PRICE

307200

15.84

892.50

-1.90

4520000

12.77

294.65

3.64

6363000

10.99

360.20

2.14

4185400

9.96

2529.40

-0.14

4072000

9.11

273.40

2.22

OI

OI
CHG. (%)

PRICE

PRICE

CHG. (%)

880000

-9.93

626.45

1.81

42352100

-8.81

237.00

-1.88

10837600

-8.21

1133.60

1.44

5862000

-6.86

71.60

2.29

4623000

-6.61

1576.40

1.75

LUPIN

Historical Volatility

OI
CHG. (%)

Put-Call Ratio
HV

SCRIP

PCR-OI

PCR-VOL

INFY

38.06

NIFTY

1.08

1.05

BPCL

38.05

BANKNIFTY

0.92

0.75

AMARAJABAT

35.10

INFY

0.56

0.60

PETRONET

44.16

SBIN

0.36

0.31

ULTRACEMCO

37.30

TCS

1.10

0.82

SCRIP

Strategy Date

Symbol

Strategy

Status

April 04, 2016

TCS

Ratio Bear Put Spread

Active

April 11, 2016

ITC

Short Strangle

Active

April 18, 2016

NIFTY

Long Call

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Active

Technical & Derivatives Report

April 20, 2016

FII Statistics for 18-April 2016

Turnover on 18-April 2016

Open Interest

Detail

Buy

Sell

Net
Contracts

Value
(in Cr.)

Instrument

No. of
Contracts

Turnover
( in Cr. )

Change
(%)

Change (%)

INDEX
FUTURES

2253.67

1622.66

631.01

241742

13946.09

(1.40)

INDEX
FUTURES

269176

14867.72

-18.38

INDEX
OPTIONS

27103.23

26448.65

654.58

1140157

66851.35

0.53

INDEX
OPTIONS

3093641

178755.82

-23.64

STOCK
FUTURES

4991.32

3964.86

1026.46

1005566

48441.80

0.01

STOCK
FUTURES

540251

27512.98

-9.75

STOCK
OPTIONS

3535.18

3610.05

(74.88)

82356

4029.63

8.57

STOCK
OPTIONS

383847

20302.87

-1.07

37883.39

35646.22

2237.17

2469821

133268.87

0.37

TOTAL

4286915

241439.40

-20.40

Risk

Reward

BEP

31.65

68.35

7868.35

49.45

150.55

7850.55

17.80

82.20

7782.20

TOTAL

Nifty Spot = 7914.70

Lot Size = 75

Bull-Call Spreads

Bear-Put Spreads

Action

Strike

Price

Buy

7900

88.95

Sell

8000

41.75

Buy

7900

88.95

Risk

Reward

BEP

47.20

52.80

7947.20

72.90
Sell

8100

16.05

Buy

8000

41.75
25.70

Sell

8100

16.05

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127.10

74.30

Action

Strike

Price

Buy

7900

71.55

Sell

7800

39.90

Buy

7900

71.55

Sell

7700

22.10

Buy

7800

39.90

Sell

7700

22.10

7972.90

8025.70

Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.

Nifty Put-Call Analysis

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Technical & Derivatives Report

April 20, 2016

Daily Pivot Levels for Nifty Constituents

Scrips
ACC

S2

S1

PIVOT

R1

R2

1,425

1,445

1,457

1,476

1,489

ADANIPORTS

223

227

232

236

241

AMBUJACEM

224

226

230

233

237

ASIANPAINT

871

878

882

890

894

AUROPHARMA

771

777

783

789

795

AXISBANK

434

440

443

448

452

2,483

2,514

2,562

2,593

2,641

BANKBARODA

144

146

149

151

154

BHEL

129

131

133

134

136

BPCL

904

937

958

991

1,013

BHARTIARTL

347

353

358

364

369

INFRATEL

381

389

400

407

418

19,499

19,780

20,015

20,296

20,531

CIPLA

500

512

519

531

538

COALINDIA

272

274

276

278

281

2,987

3,039

3,074

3,126

3,161

19,579

19,924

20,262

20,606

20,945

351

355

362

366

372

3,974

4,032

4,071

4,129

4,168

BAJAJ-AUTO

BOSCH

DRREDDY
EICHERMOT
GAIL
GRASIM
HCLTECH

837

845

853

861

869

HDFCBANK

1,063

1,076

1,084

1,096

1,104

HDFC

1,076

1,104

1,122

1,150

1,168

HEROMOTOCO

2,972

3,013

3,087

3,128

3,201

95

96

98

99

HINDALCO

93
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HINDUNILVR

878

889

897

907

915

ICICIBANK

229

233

239

243

248

IDEA

113

117

119

123

126

INDUSINDBK

970

979

986

996

1,003

INFY

1,212

1,226

1,247

1,260

1,281

ITC

328

332

335

339

342

KOTAKBANK

644

664

677

697

711

LT

1,192

1,222

1,240

1,270

1,288

LUPIN

1,517

1,546

1,572

1,601

1,627

M&M

1,299

1,320

1,337

1,358

1,376

MARUTI

3,646

3,683

3,716

3,753

3,786

NTPC

135

137

138

141

142

ONGC

203

205

208

211

214

POWERGRID

141

144

145

148

149

1,051

1,058

1,062

1,069

1,074

SBIN

182

184

188

190

194

SUNPHARMA

822

830

835

844

849

2,391

2,455

2,504

2,569

2,618

TATAMTRDVR

294

298

300

303

306

TATAMOTORS

399

403

407

411

414

68

69

70

70

71

324

330

333

339

343

RELIANCE

TCS

TATAPOWER
TATASTEEL
TECHM

467

472

477

482

487

3,170

3,288

3,353

3,470

3,535

WIPRO

573

581

588

595

602

YESBANK

848

871

884

907

920

ZEEL

393

400

405

412

417

ULTRACEMCO

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Technical & Derivatives Report

April 20, 2016

Research Team Tel: 022 - 39357800

For Technical Queries

E-mail: technoedge@angelbroking.com

For Derivatives Queries

E-mail: derivatives.desk@angelbroking.com

Website: www.angelbroking.com

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