MOSt Quantitative

Outlook Weekly

Index

Nifty

Sensex

24th Nov 2017

CMP

10,390

33,679

Support

10300 / 10250

33000 / 32800

Resistance

10500 / 10580

33600 / 33850

NIFTY WEEKLY

Nifty had a range bound move in a trading band of 10260 to 10370 for most part of the week

On Friday it witnessed a long green candle and a volatility breakout after five days of sideways action

The pattern in process is an Upside Gapping play, indicating a continuation of the up trend

Index closed above the 61.80% retracement of the decline from 10490 to 10094

Pattern for the week is a Green candle followed by a Hammer which confirms bullishness

Index needs to hold above 10350 to continue its up move toward 10500 then 10580

On the downside supports are seen at 10300 then 10250

SECTOR

NAME

Auto

IT

NBFC

Oil &Gas

OUTLOOK

FOR THE WEEK

Positive

Positive

Positive

Positive

POTENTIAL

MOVERS & SHAKERS

TVS Motor, Maruti

TCS, Tech Mahindra

Bharat Fin, M&M Finance

HPCL, BPCL, GAIL

Chandan Taparia

Derivatives & Technical Analyst

Manish Shah

Technical Analyst

1

MOSt Quantitative Outlook

Weekly

NIFTY DAILY

24th Nov 2017

Nifty index managed to give consolidation breakout by holding above 10350 and headed towards 10400 zones. It formed a

Bullish candle on Daily and Weekly chart and supports are gradually shifting higher. Now it has to hold above 10350 to extend

its move towards 10450 then 10500 zones while on the downside supports are seen at 10300 then 10250 levels.

NIFTY OPTIONS OI VS PRICE

Nifty index witnessed sustained buying interest for most part of the week and managed to reclaim 10400 zones. It recovered

well in last two weeks from 10094 to 10400 and closed this week with the gains of 1.03%. It is now 100 points away from its

life time highs and supports are gradually shifting which suggests a fresh leg of rally in coming days. India VIX fell down by

1.44% at 13.51. Now Volatility has to cool down below 13-12.50 zones to get the market stability and next leg of rally towards

new high territory. On the option front, maximum Put OI is at 10300 followed by 10200 strikes while maximum Call OI is at

10500 followed by 10400 strike. We have seen fresh Put writing at 10400, 10350 and 10300 strikes while Call unwinding seen

at 10300, 10350, 10500 and 10600 strikes. Significant Put writing at 10400 strike is shifting its support from 10300 to 10350

zones while intact Call writing at 10500 strike could restrict its upside momentum to 10500 zones. Option band signifies a

trading band between 10300 to 10500 for next coming sessions.

2

MOSt Quantitative Outlook

Weekly

NIFTY FINANCIAL

24th Nov 2017

Nifty finance Index is in a very sharp uptrend. Prices have already shown a breakout from the major high of 10300 and then

there was a pull back to this level. In the last week the index has several narrow ranged candles just below the previous high

of 10570 points. This is upside gapping play pattern which is a continuation pattern. If the index manages to break above the

high at 10570 points there should be a sharp rally towards 10650 then 10750. Stocks in NBFC sector should see a renewal of

buying interest in the days to come.

BHARAT FINANCIAL

Price of Bharat Finance has seen a volatility breakout as price has broken out of a descending triangle pattern after forming

a base at 960. The down trendline breakout is on good volumes and a very strong candlestick pattern. We can expect the price

to see a rally towards 1020-1040 so one can consider buying this stock on a decline with a stop below 960.

3

MOSt Quantitative Outlook

Weekly

OPTION STRATEGY

24th Nov 2017

NIFTY

BUY

BULL CALL SPREAD

3

It managed to hold above 10350 and momentum could

extend to new highs

Fresh Put writing at 10400 strike is suggesting higher

support

Maximum Put OI at 10300 strike is making its base for

the series

Intact Call writing at 10500 could restrict its upside mo-

mentum

Thus a positive to range bound, Bull Call Spread is rec-

ommended.

: 40 POINTS (INR 3000/-)

BUY 1 LOT OF 10400 CALL

SELL 1 LOT OF 10500 CALL

3

3

3

3

MAX RISK

MAX REWARD : 60 POINTS (INR 4500/-)

4

MOSt Quantitative Outlook

Weekly

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