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Technical & Derivatives Report
April 01, 2020
Nifty Bank Outlook - (19144)
Bank Nifty aswell started with a gap up opening and it traded
within the previous session trading range. It relatively
underperformed as compared to broader markets and ended
with gains of around 2 percent at 19144.
Yesterday, the major action was seen from the stocks outside
the banking basket. Some of the banking stocks like Indusind
Bank and RBL remained under pressure whereas some
heavyweights like HDFC BANK, SBIN, ICICIBANK showed
some performance. Going ahead one can continue to have a
stock specific trades within the basket with proper trade
setup. As far as levels are concerned, immediate resistance is
seen around 19700 and 20600 levels whereas support is
placed around 18700 and 18000 mark.
Key Levels
Support 1 – 18700 Resistance 1 – 19700
Support 2 – 18000 Resistance 2 – 20600
Exhibit 1: Nifty Daily Chart
Sensex (29468) / Nifty (8598)
On the back of the positive global cues, the Nifty index opened
on a positive note in yesterday’s session. The index started
retracing back in the first half an hour, but it resumed the
momentum from its pivot point and crept higher to end the
session with gains of over three and a half percent.
The index managed to show some pullback move yesterday
owing to buying seen in the defensive sectors such as FMCG,
Pharma and IT. Stocks from these sectors witnessed good
volumes along with price up move. The Banking space also
witnessed some pullback but it continued to be a relative under
performer compared to some of the other indices mentioned
above. One positive development that was seen was the decline
in the India VIX. The volatility index in the recent past have kept
the market participants on the toes and thus, the month of the
March certainly made everyone depressive as the Nifty ended
with a cut of over 23% in the month. With the fall in VIX, we
hope that the worst is behind us and the coming month will
bring back smiles on the investors face. Having said that, it is too
early to predict that as yet there is not much relief with regards
to Corona Virus cases across the globe. Hence, we continue with
our advice for traders to trade with proper risk management and
keep booking timely profits due to higher volatility.
Exhibit 2: Nifty Bank Daily Chart
As far as levels are concerned, 8240 is seen as the immediate
support for the index followed by the 8000 mark whereas the
near term resistance is seen around 8740-8800. Stocks from the
above mentioned sector viz. FMCG, Pharma and IT should be on
focus as these names are witnessing buying interest and hence
could continue with the outperformance.
Key Levels
Support 1 – 8240 Resistance 1 – 8740
Support 2 – 8000 Resistance 2 – 8800
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Technical & Derivatives Report
April 01, 2020
Nifty Vs OI
0
2000
4000
6000
8000
10000
12000
,0
5,000
10,000
15,000
20,000
25,000
3/5 3/9 3/12 3/16 3/18 3/20 3/24 3/26 3/30
(`000)
Openinterest Nifty
V
i
e
w
s
Yesterday, Nifty started with a gap up opening and
after an initial dip witnessed positive momentum
throughout the session to end with gains of 3.82%
tad below 8600 levels.
FIIs were net sellers in the cash market segment to the
tune of Rs. 3045 crores. In index futures they bought
worth 1506 crores with decrease in open interest
indicating short covering and some long creation in
yesterday’s session.
FII's continued to sell equities in cash segment. One
positive development noted was the fall in the IV's as
the India VIX has declined to level of 64 from the
recent high around 86. If this continues to move lower,
then we would see decline in the volatility in the
market which could then bring some stability. Post
expiry, we have not seen much long formation by the
stronger hands and hence, traders are advised to take
a stock specific approach and trade with the
momentum. We also continue with our advice for
traders to avoid aggressive trades and trade with a
proper exit strategy as well.
Co
m
men
t
s
The Nifty futures open interest has decreased by 2.05%
Bank Nifty futures open interest has decreased by 1.72
% as market closed at 8597.75 levels.
The Nifty April future closed with a premium of 23.2
points against a premium of 9.05 points in last trading
session. The May series closed at a premium of 40.9
points.
The INDIA VIX has decreased from 71.89 to 64.40.
At the same time, the PCR-OI of Nifty has increased
from 1.10 to 1.19.
Few of the liquid counters where we have seen high cost
of carry are APOLLOTYRE, JINDALSTEL, CHOLAFIN, VEDL
and GODREJCP.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TATACHEM 849600 24.70 223.20 0.61
RBLBANK 10509000 23.96 135.50 -10.75
CUMMINSIND 660600 18.39 326.65 -1.48
JINDALSTEL 7110000 15.33 82.20 2.60
L&TFH 15052800 12.19 51.30 -1.16
CHOLAFIN 3422500 12.12 152.85 -4.38
MFSL 1309100 11.03 384.60 -3.62
CANBK 6627400 9.82 90.50 3.27
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
VOLTAS 1343000 -8.39 476.95 2.41
SAIL 30473700 -6.95 23.05 12.17
BALKRISIND 534400 -6.44 791.65 -1.67
APOLLOHOSP 746500 -5.63 1139.00 2.83
SRTRANSFIN 2300400 -5.57 660.70 7.21
TORNTPOWER 1410000 -5.43 279.05 1.43
UBL 320600 -5.18 918.80 2.03
ADANIPORTS 24387500 -4.17 251.30 0.08
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.19 0.76
BANKNIFTY 0.78 0.54
RELIANCE 0.85 0.51
ICICIBANK 0.62 0.66
INFY 0.91 0.88
Historical Volatility
SCRIP HV
BPCL 118.75
HINDPETRO 112.23
IOC 61.52
SAIL 133.25
MARICO 66.16
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Technical & Derivatives Report
April 01, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot
=
8597.75
FII Statistics for March 31, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
7915.91
6409.71
1506.20
123747
7346.62
(7.53)
INDEX
OPTIONS
97917.64
97606.65
310.99
473523
29354.34
0.02
STOCK
FUTURES
12656.24
11399.93
1256.31
1343530
62400.35
1.11
STOCK
OPTIONS
623.79
613.88
9.91
13804
640.25
4.87
Total 119113.58
116030.17
3083.41
1954604
99741.56
0.28
Turnover on March 31, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,78,492 29943.76 4.17
Index Options 1,15,78,138
5,97,859.98 53.46
Stock Futures 7,26,619 32561.19 7.17
Stock Options 2,71,674 13009.25 5.90
Total 1,31,54,923
6,73,374.18 46.07
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 8600 612.00
59.15 40.85 8659.15
Sell 8700 552.85
Buy 8600 612.00
104.10 95.90 8704.10
Sell 8800 507.90
Buy 8700 552.85
44.95 55.05 8744.95
Sell 8800 507.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 8600 596.70
38.85 61.15 8561.15
Sell 8500 557.85
Buy 8600 596.70
80.30 119.70 8519.70
Sell 8400 516.40
Buy 8500 557.85
41.45 58.55 8458.55
Sell 8400 516.40
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
7900 8000 8100 8200 8300 8400 8500 8600 8700 8800 8900 9000 9100 9200
Call Put
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April 01, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
240
246
253
258
265
ASIANPAINT 1,565 1,616
1,653
1,704
1,741
AXISBANK
363
371
380
388
398
BAJAJ-AUTO 1,882 1,952
2,000
2,070
2,118
BAJFINANCE 1,979 2,097
2,219
2,337
2,459
BAJAJFINSV 4,184 4,388
4,634
4,837
5,083
BPCL
259
288
309
338
359
BHARTIARTL
414
428
437
451
460
INFRATEL
151
155
159
164
168
BRITANNIA 2,410 2,549
2,630
2,769
2,850
CIPLA
403
413
430
440
456
COALINDIA
131
135
139
144
147
DRREDDY 2,982 3,051
3,102
3,171
3,222
EICHERMOT 12,515
12,805
13,241
13,531
13,967
GAIL
69
73
75
79
81
GRASIM
444
460
470
486
496
HCLTECH
413
425
437
449
461
HDFCBANK
822
842
858
878
893
HDFC 1,543 1,588
1,627
1,672
1,712
HEROMOTOCO
1,530
1,563
1,598
1,632
1,667
HINDALCO
88
92
95
98
101
HINDUNILVR 2,138 2,218
2,266
2,346
2,394
ICICIBANK
306
315
325
334
344
IOC
75
78
80
84
86
INDUSINDBK
292
322
360
390
429
INFY
617
629
646
658
674
ITC
157
164
169
177
181
JSW STEEL
140
143
148
151
156
KOTAKBANK 1,259 1,277
1,304
1,322
1,349
LT
776
792
808
824
839
M&M
274
279
283
289
293
MARUTI 4,064 4,176
4,322
4,434
4,580
NESTLEIND 15,419
15,860
16,142
16,583
16,866
NTPC
80
82
83
86
87
ONGC
61
65
67
71
73
POWERGRID
154
156
159
162
165
RELIANCE 1,015 1,065
1,097
1,146
1,179
SHREECEM 16,594
17,070
17,393
17,870
18,193
SBIN
184
190
194
201
205
SUNPHARMA
318
335
345
362
372
TCS 1,745 1,786
1,820
1,861
1,895
TATAMOTORS
67
69
70
72
74
TATASTEEL
255
262
267
275
280
TECHM
509
537
556
585
604
TITAN
895
914
943
962
991
ULTRACEMCO 3,029 3,137
3,208
3,316
3,387
UPL
300
313
323
336
345
VEDANTA
60
63
65
67
69
WIPRO
180
188
194
202
208
ZEEL
118
121
126
129
134
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Technical & Derivatives Report
April 01, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: technicalrese[email protected]
For Derivatives Queries E-mail: d[email protected].com
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