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June 01, 2021
Technical & Derivatives Repo
rt
Exhibit 1: Nifty Daily Chart
Bank Out
look
-
(
35527)
We started-off the session slightly lower; but smart buying
emerged from the word go. As we progressed, index gained
strength and slowly inched higher to first surpass Friday’s high
of 35436.65 and then follow up buying led closing almost at
the peak with the gains of more than a percent.
Last week, the BankNifty struggled to surpass 35250 multiple
time and finally, could managed to breach same on Friday.
However, the index lacked momentum hence concluded the
day tad below 35200. Post recent underperformance, yesterday
we witnessed decent buying index to boost the overall
sentiments. At current juncture, 34400-34500 shall act as a
strong demand zone; whereas, immediate resistance is now
placed around 36400-36500. Considering the overall chart
structure, we maintain our bullish stance on market and would
advise traders’ adopting buying on dips strategy.
Key Levels
Support 1 – 35000 Resistance 1 – 36000
Support 2 – 34500 Resistance 2 – 36400
Exhibit 2: Nifty Bank Daily Chart
We advise traders to trade with a positive bias and one should
continue with the recent stock specific approach. It might sound
a bit repetitive but it’s our duty to keep reminding that traders
should not get complacent and follow a proper risk management
now; because the low hanging fruit is already gone and in
between we may see few bouts of profit taking which may look
surprising if positions are overleveraged.
Key Levels
Support 1 – 15430 Resistance 1 – 15700
Support 2 – 15375 Resistance 2 – 15780
Se
nsex
(
51937)
/ Nifty
(
15583
)
We had a flat start to the week yesterday morning and in fact, in
the initial trade, there was some mild negativity seen in the
market. But similar to the recent trend, market absorbed the
pressure and then resumed its upward momentum, once again
led by the giant RELIANCE. As the day progressed, the buying
momentum continued to first reach the new milestone of 15500
and in the final hour 15600 became the reality as well. Eventually,
the Nifty ended the session with nearly a percent gains.
Undoubtedly the trend has been extremely strong since last few
days and hence, the Nifty reached yet another millstone of 15600
before anyone could realise it. Since we are in an uncharted
territory, there is no historic level to consider as a next resistance
but taking few Fibonacci ratios into consideration, there is no
major level visible before the magical figure of 16000. So
practically, every 100 points move from hereon should be
considered an intraday level in the northward direction. On the
flipside, the support levels are very much defined which are now
to be seen at 15400 – 15250.
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Technical & Derivatives Report
June 01, 2021
Nifty Vs OI
13800
14000
14200
14400
14600
14800
15000
15200
15400
15600
15800
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
4/30 5/4 5/6 5/10 5/12 5/17 5/17 5/24 5/26 5/28
(`000)
Openinterest Nifty
View
Nifty started the week on a flat note but it witnessed a
gradual upmove as the day progressed. The index
ultimately reached another milestone of 15600 and
ended around the high point with gains of about a
percent.
FIIs were net buyers in the cash segment to the tune of
Rs. 2412 crores. In index futures front, they sold worth Rs.
690 crores with decrease in open interest indicating long
unwinding in yesterday’s session.
The indices continued to inch higher at the start of the
week with some long formations in Nifty. The recent
selling by FII's got absorbed and now as the market
resumed its upmove, they have again started buying in
the cash segment. In index futures, although they
unwound some of their longs yesterday, their net longs
continue to be on the long side since they rolled majority
of longs in last week. Their 'Long Short Ratio' currently
stands around 86.55 percent. In options segment, put
writers were active in 15500 and 15400 strikes which
would now be seen as immediate support range. Hence,
traders are advised to continue to trade with a positive
bias and look for buying opportunities on any intraday
dips.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 2.46%.
Bank Nifty futures open interest has decreased by 1.11%
as market closed at 15582.80 levels.
The Nifty June future closed with a premium of 0.40 point
against a premium of 28.20 point in last trading session.
The July series closed at a premium of 54 point.
The INDIA VIX decreased from 17.40 to 16.88.
At the same time, the PCR-OI of Nifty increased from 1.32
to 1.51.
Few of the liquid counters where we have seen high cost
of carry are IDEA, SUNTV, SAIL, MFSL, AND RAMCOCEM.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NAM-INDIA 2156800 64.79 370.50 6.27
LALPATHLAB 493000 17.87 2956.15 5.22
PETRONET 19407000 16.16 241.45 0.31
NAUKRI 1622625 13.17 4345.45 -2.69
M&M 9839900 11.00 807.95 -4.91
SAIL 177279500 10.22 126.60 4.72
TATACONSUM 7415550 9.07 663.85 1.39
UBL 1180200 8.70 1253.35 -1.11
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MINDTREE 1639200 -11.07 2394.30 1.53
MANAPPURAM 27156000 -9.17 162.90 4.18
PFIZER 190375 -7.25 5136.00 0.10
DABUR 10300000 -7.01 540.45 1.90
GAIL 30323100 -6.72 159.95 4.19
RAMCOCEM 1930350 -6.20 966.25 0.76
EICHERMOT 2460850 -4.94 2676.15 1.14
ZEEL 80577000 -4.72 209.35 -1.20
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.51 0.90
BANKNIFTY 0.93 0.75
RELIANCE 0.51 0.30
ICICIBANK 0.74 0.43
INFY 0.61 0.40
Historical Volatility
SCRIP HV
NAM-INDIA 56.15
LALPATHLAB 49.98
GUJGASLTD 45.82
M&M 48.07
GAIL 48.38
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Technical & Derivatives Report
June 01, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Spot =
15582.80
FII Statistics for May 31, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2570.51
3260.79
(690.28) 117432
12829.19
(4.14)
INDEX
OPTIONS
294601.52
291977.23
2624.29
885524
95663.78
7.89
STOCK
FUTURES
12819.43
13020.19
(200.76) 1414557
110788.88
0.89
STOCK
OPTIONS
14325.32
14467.03
(141.71) 157920
12047.19
23.04
Total 324316.78
322725.24
1591.54
2575433
231329.04
4.11
Turnover on May 31, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,46,555 24363.13 0.62
Index Options
2,82,59,203 28,15,519.34 38.82
Stock Futures
8,74,736 66796.44 -9.38
Stock Options
23,11,039 1,72,870.78 6.73
Total 3,16,91,533 30,79,549.69 34.59
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15600 227.90
53.05 46.95 15653.05
Sell 15700 174.85
Buy 15600 227.90
97.15 102.85 15697.15
Sell 15800 130.75
Buy 15700 174.85
44.10 55.90 15744.10
Sell 15800 130.75
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15600 244.05
40.05 59.95 15559.95
Sell 15500 204.00
Buy 15600 244.05
74.10 125.90 15525.90
Sell 15400 169.95
Buy 15500 204.00
34.05 65.95 15465.95
Sell 15400 169.95
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000
Call Put
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Technical & Derivatives Report
June 01, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
752
761
770
779
789
ASIANPAINT 2,914 2
,946
2,968
3,000
3,022
AXISBANK
727
739
746
758
765
BAJAJ-AUTO 4,134 4,164
4,196
4,225
4,258
BAJFINANCE 5,513 5,570
5,618
5,675
5,722
BAJAJFINSV 11,523
11,665
11,760
11,902
11,997
BPCL
466
469
471
474
476
BHARTIARTL
521
528
532
539
543
BRITANNIA 3,413 3,431
3,445
3,462
3,476
CIPLA
914
932
941
959
968
COALINDIA
144
146
147
149
150
DIVISLAB 4,022 4,108
4,196
4,282
4,370
DRREDDY 5,108 5,208
5,272
5,373
5,436
EICHERMOT 2,589 2,632
2,659
2,703
2,730
GRASIM 1,434 1,45
3
1,474
1,492
1,514
HCLTECH
927
936
942
951
957
HDFCBANK 1,476 1,496
1,508
1,528
1,540
HDFCLIFE
658
662
666
670
675
HDFC 2,477 2,515
2,540
2,578
2,603
HEROMOTOCO 2,939 2,973
2,994
3,028
3,049
HINDALCO
385
390
393
397
400
HINDUNILVR 2,310 2,325
2,335
2,350
2,360
ICICIBANK
636
649
657
671
678
IOC
107
108
109
110
112
INDUSINDBK
996
1,005
1,012
1,021
1,029
INFY 1,374 1,384
1,393
1,403
1,411
ITC
213
215
216
218
220
JSW STEEL
675
693
704
721
732
KOTAKBANK 1,775 1,791
1,802
1,818
1,828
LT 1,449 1,458
1,467
1,477
1,486
M&M
773
791
807
825
841
MARUTI 6,861 6,974
7,037
7,150
7,213
NESTLEIND 17,289
17,492
17,619
17,822
17,949
NTPC
106
108
110
112
113
ONGC
110
112
113
115
116
POWERGRID
222
22
4
225
227
228
RELIANCE 2,039 2,100
2,146
2,206
2,252
SBILIFE
964
970
976
982
989
SHREECEM 26,516
27,047
27,781
28,312
29,046
SBIN
415
420
423
428
431
SUNPHARMA
651
660
668
676
684
TCS 3,111 3,135
3,153
3,177
3,194
TATACONSUM
645
654
6
60
669
674
TATAMOTORS
309
314
317
322
325
TATASTEEL 1,087 1,107
1,118
1,137
1,149
TECHM 1,003 1,012
1,022
1,031
1,041
TITAN 1,552 1,574
1,591
1,613
1,630
ULTRACEMCO 6,540 6,624
6,672
6,757
6,805
UPL
801
808
815
822
829
WIPRO
527
5
33
537
543
546
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Technical & Derivatives Report
June 01, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalrese[email protected]
For Derivatives Queries E-mail: derivat[email protected]
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]g.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com