MOSt Quantitative

Outlook Weekly

Index

Nifty

Sensex

8th Sep 2017

CMP

9935

31688

Support

9850 / 9775

31500 / 31300

Resistance

9980 / 10080

31900 / 32300

NIFTY WEEKLY

Nifty made an inside bar, a small bodied candle

The participants seem lost for direction and a range breakout is required

Markets did not attract follow up buyers and sellers were unable to push it to lower zones

Index mostly traded in a range between 9988-9861

The weekly traded range of around 120 points is the smallest in last many weeks

The sideways action in Nifty is forming an ascending triangle pattern.

The future direction of the market depends on a decisive range breakout on either side

A break out above 9988 would mean a rally to 10080 then 10138

On the lower side a break below 9850 could mean a drop towards 9775 then 9710 levels

SECTOR

NAME

Banking

NBFC

Auto

Metals

Chandan Taparia

Derivatives & Technical Analyst

OUTLOOK

FOR THE WEEK

Positive

Positive

Positive

Positive

Manish Shah

Technical Analyst

POTENTIAL

MOVERS & SHAKERS

Indusind Bank, Kotak Bank

M&M Finance, Bajaj Finance

Maruti, Ashok Leyland

JSW Steel, Vedl

1

MOSt Quantitative Outlook

Weekly

NIFTY DAILY

8th Sep 2017

Nifty index opened positive but failed to surpass 9965 and fell down towards 9913 levels. However it recovered from lows

and finally closed near to its pivot key levels of 9928 with marginal gains of 5 points. It formed a small candle and got stuck

in the broader trading range of 9850 to 9980 zones from last eight trading sessions. Now it has to continue to hold above 9928

zones to witness an up move towards 9980 then fresh move towards 10020-10050 zones while on the downside supports are

seen at 9880 then 9850 levels.

NIFTY OPTIONS OI VS PRICE

Nifty corrected sharply on Monday while witnessed a range bound move for rest four trading sessions of the week. It

managed to recover from lower levels but follow up was missing and finally it closed negative with the loss of 0.40% on week

on week basis. Index got stuck in a broader range of 9850 to 9980 zones for last eight trading sessions. India VIX moved up by

10.98% at 12.96 levels during the week. On the option front, maximum Put OI is at 9700 and 9800 strike while maximum Call

OI is at 10000 followed by 10100 strike. We have seen fresh Put writing at 9900, 9800 and 9700 strike while fresh Call writing

is seen at 9900, 10050 and 10100 strikes. Option band signifies immediate trading range between 9850 to 10000 zones for next

couple of sessions while a decisive range breakout above 9980 could start the fresh up move for the expectation to hit its life

time high of 10138.

2

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Weekly

AUTO

8th Sep 2017

Nifty Auto index seems to be making a solid base around 10400 levels. The pattern is again an ascending triangle. A breakout

from 10900 could mean a rally towards the high at 11200. Once the index breaks above 10900 then selecting auto stocks may

start the fresh up move. On the weekly timeframe we see a series of bullish candlestick patterns in Nifty Auto Index. These

patterns are at major support zone. It seems that Buyers are taking over control of the index. Traders should be on a lookout

for long trades in select Auto stocks especially in Maruti, Ashokley and Eicher Motor.

ASHOK LEYLAND

Ashok Leyland formed a Cup and Handle pattern on weekly chart and traded above its resistance at 105. On the daily charts

we see that the price has moved out of a small flag pattern which is again a bullish sign. It is poised to seek significant gains.

We are looking for a potential rally to 125 from current levels thus consider buying this stock at current levels with a stop

below 111.

3

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Weekly

OPTION STRATEGY

8th Sep 2017

Axis Bank

BUY

BULL CALL SPREAD

3

It has been respecting to its multiple support of 500

zones from last nine sessions

It has the behaviour to move in a range bound manner

Maximum Put OI at 500 strike could support it to hold

above 500 zones

Maximum Call OI at 520 strike could restrict its upside

momentum

Thus low cost Ratio Bull Call Spread is recommending

Buy 1 Lot 510 CE; Sell 1 Lot 520 CE; Sell 1 Lot 530 CE

3

3

3

3

Stop Loss : INR 3000

Target

: INR 6000

4

MOSt Quantitative Outlook

Weekly

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