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April 01, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
look
-
(
33304)
Tuesday’s strong session was followed by a surprising gap down
yesterday as indicated by the SGX Nifty early in the morning. In
the initial couple of hours, BANKNIFTY pared down all tuesday’s
gains to slide below the 33400 mark. For the remaining part of
the session, the index slipped into a consolidation mode to
conclude the Financial Year with a cut less than two percent.
With yesterday’s initial hiccup, it poured complete water on bulls’
effort to push banking index towards 34000 in the previous
session. Now let’s see how we kick off the new financial year as
there are no major signs left at the end of yesterday’s session. As
far as levels are concerned, 33200 33000 are to be seen as
immediate supports now; whereas on the flipside, 33500 33700
have now become intraday hurdles. Ideally, there is not much
interest visible in key indices as mostly traders are focusing on
individual stocks that are bucking the trend.
Key Levels
Support 1 – 33200 Resistance 1 – 33500
Support 2 – 33000 Resistance 2 – 33700
Sensex (49509) / Nifty (14691)
Post Tuesday’s sharp upmove, we had a gap down opening
yesterday around the 14800 mark. The index corrected in the first
hour of the trade and then consolidated for the rest of the session
to end the financial year tad below 14700.
On Tuesday, our markets showed a momentum backed by buying
interest in some of the index heavyweights. However, there was no
follow up buying yesterday and as mentioned in our yesterday’s
outlook, the bulls need to surpass the resistances of 14870 and
15050 for building a greater confidence on this leg of upmove.
Now, if we look at charts, the supports for the index are placed
around 14600 and 14300 (rising trendline support) while
resistances are around the above mentioned levels. We are now
trading at the mid of this broad range and a move beyond the
above mentioned levels would only lead to a directional move.
Until we surpass these levels on either side, it is prudent to trade
with a stock specific approach and avoid taking undue risks as we
even have a long weekend ahead. Overall, it was a remarkable
financial year 2020-21 and we wish for a profitable new financial
year for all traders and investors.
Key Levels
Support 1 – 14600 Resistance 1 – 14870
Support 2 – 14530 Resistance2 – 15050
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
April 01, 2021
Nifty Vs OI
13800
14000
14200
14400
14600
14800
15000
15200
15400
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
3/10 3/16 3/18 3/22 3/24 3/26
(`000)
Openinterest Nifty
View
The benchmark index begun the session with some
nervousness and then we witnessed some follow-up
selling in the early moring trade. As the day progressed,
we saw some consolidation to conclude the session with
a cut over a percent.
FIIs were net sellers in the cash segment to the tune
of Rs. 1686 crores. In index futures front, they were
net sellers worth Rs. 2448 crores with good amount
of rise in open interest; suggesting short formation in
last two trading sessions.
The open interest activity in Nifty has been
inconsistent
these days. Last Friday, we saw decent longs and then in
Tuesday’s rally hardly any OI addition was visible.
Yesterday, we saw huge unwinding as outstanding
contracts plunged by 17%. Hence, the above build-up
doesn’t give any clear indication. Unlike Nifty, the
banking index has majority of shorts in system and any
correction in last three days has also attracted decent
shorts. In options front, 14800 and 15000 calls added
decent shorts; whereas, decent unwinding was
witnessed in 14500-14700 put strikes. Considering the
above data points, we maintain our cautious stance on
market and hence, would advise avoiding any
aggressive bets.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 17.54.
Bank Nifty futures open interest has increased by 5.95%
as market closed at 14690.70 levels.
The Nifty April future closed with a premium of point
61.60 against a premium of 64.45 point in last trading
session. The May series closed at a premium of 111.75
point.
The INDIA VIX decreased slightly from 20.65 to 20.64.
At the same time, the PCR-OI of Nifty decreased from
1.31 to 1.10.
Few of the liquid counters where we have seen high cost
of carry are IDEA, SAIL, ONGC, NMDC and EXIDEIND.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IDFCFIRSTB 197448000 22.89 55.70 -6.07
PEL 3684450 19.01 1753.15 -0.71
LALPATHLAB 195250 17.98 2707.05 3.24
IDEA 592340000 17.28 9.25 1.08
HDFCBANK 29211600 13.60 1493.65 -3.42
HEROMOTOCO 4447500 12.40 2913.60 -0.85
CUMMINSIND 1945200 11.26 919.65 2.12
AARTIIND 459850 10.63 1317.40 -1.69
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MINDTREE 1760000 -10.17 2083.90 -1.89
HINDPETRO 25795800 -5.99 234.50 1.49
GODREJPROP 1718600 -4.93 1406.80 4.44
CIPLA 10999300 -4.34 815.10 0.28
SAIL 154052000 -3.93 78.80 0.06
CADILAHC 10150800 -3.92 440.90 1.43
HDFCLIFE 8317100 -3.80 696.20 1.21
INDIGO 3522000 -3.72 1632.00 2.59
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.10 0.98
BANKNIFTY 0.79 0.96
RELIANCE 0.59 0.51
ICICIBANK 0.66 0.47
INFY 0.59 0.44
Historical Volatility
SCRIP HV
IDFCFIRSTB 60.22
HDFCBANK 39.24
HDFC 46.65
AMBUJACEM 43.36
GODREJPROP 58.68
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Technical & Derivatives Report
April 01, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot =
14690.70
FII Statistics for March 31, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3377.43 5826.23 (2448.80) 122164 12740.39 9.57
INDEX
OPTIONS
348208.51 345685.67 2522.84
990549 100483.78 36.70
STOCK
FUTURES
12120.11 12755.88 (635.77) 1071930 91591.01 1.67
STOCK
OPTIONS
7023.64 7054.84 (31.20) 103311 8829.43 19.30
Total 370729.69
371322.62
(592.93) 2287954
213644.61
15.73
Turnover on March 31, 2021
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,46,529 33213.44 -14.61
Index Options
3,51,84,527 33,63,574.57 28.61
Stock Futures
5,86,609 53493.28 -5.27
Stock Options
9,34,299 87467.56 0.75
Total 3,70,51,964 35,37,748.85 26.46
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14700 369.65
52.05 47.95 14752.05
Sell 14800 317.60
Buy 14700 369.65
102.75 97.25 14802.75
Sell 14900 266.90
Buy 14800 317.60
50.70 49.30 14850.70
Sell 14900 266.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14700 315.35
40.90 59.10 14659.10
Sell 14600 274.45
Buy 14700 315.35
80.75 119.25 14619.25
Sell 14500 234.60
Buy 14600 274.45
39.85 60.15 14560.15
Sell 14500 234.60
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
14000 14100 14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300
Call Put
Note
-
The above data is with comparision to 26
-
03
-
2021 ie. Tuesday.
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Technical & Derivatives Report
April 01, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
686
694
707
715
728
ASIANPAINT 2,499 2,518
2,550
2,570
2,602
AXISBANK
686
692
698
703
709
BAJAJ-AUTO 3,584 3,627
3,655
3,699
3,727
BAJFINANCE 5,068 5,109
5,164
5,205
5,260
BAJAJFINSV 9,346 9,507
9,611
9,773
9,877
BPCL
423
425
428
431
434
BHARTIARTL
510
514
520
523
529
BRITANNIA 3,562 3,593
3,624
3,656
3,687
CIPLA
796
805
815
824
834
COALINDIA
128
129
131
132
134
DIVISLAB 3,555 3,589
3,615
3,649
3,674
DRREDDY 4,449 4,482
4,515
4,548
4,580
EICHERMOT 2,542 2,573
2,611
2,642
2,680
GRASIM 1,393 1,422
1,439
1,468
1,485
HCLTECH
966
974
987
996
1,008
HDFCBANK 1,450 1,472
1,510
1,532
1,570
HDFCLIFE
675
686
692
702
708
HDFC 2,420 2,459
2,529
2,568
2,639
HEROMOTOCO 2,866 2,890
2,926
2,950
2,986
HINDALCO
313
320
328
335
343
HINDUNILVR 2,360 2,396
2,417
2,453
2,474
ICICIBANK
573
578
584
588
594
IOC
90
91
92
92
93
INDUSINDBK
939
947
958
966
977
INFY 1,348 1,358
1,373
1,383
1,398
ITC
210
214
217
221
223
JSW STEEL
455
462
468
474
480
KOTAKBANK 1,722 1,737
1,758
1,774
1,795
LT 1,399 1,409
1,420
1,430
1,442
M&M
781
788
797
804
813
MARUTI 6,720 6,790
6,865
6,934
7,009
NESTLEIND 16,791
16,978
17,139
17,326
17,486
NTPC
104
105
107
108
110
ONGC
100
101
103
104
105
POWERGRID
211
213
217
220
224
RELIANCE 1,966 1,985
2,017
2,036
2,068
SBILIFE
861
871
881
891
901
SHREECEM 28,390
28,928
29,294
29,832
30,198
SBIN
353
359
363
369
373
SUNPHARMA
590
594
600
604
610
TCS 3,099 3,138
3,172
3,211
3,245
TATACONSUM
623
631
638
646
654
TATAMOTORS
292
297
302
307
312
TATASTEEL
775
793
808
827
842
TECHM
967
979
1,001
1,013
1,035
TITAN 1,523 1,541
1,554
1,571
1,585
ULTRACEMCO 6,627 6,682
6,769
6,825
6,912
UPL
605
623
639
657
673
WIPRO
409
412
416
418
422
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Technical & Derivatives Report
April 01, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: tec[email protected]lbroking.com
For Derivatives Queries E-mail: derivatives.d[email protected]
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]roking.com
Ruchit Jain Senior Analyst - Technical & Derivatives ru[email protected]gelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com