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Technical & Derivatives Report
July 01, 2020
Nifty
Bank Out
-
(
21370
)
The index opened on a positive note and then consolidated in
a narrow range throughout the day. In last four trading
sessions, the Bank Nifty index has consolidated within a range
of 20900-21800. A breakout beyond the range could lead to
some directional move and hence, traders are advised to watch
out for a move beyond the mentioned levels.
Key Levels
Support 1 – 21000 Resistance 1 – 21800
Support 2 – 20900 Resistance 2 – 22000
Exhibit 1: Nifty Daily Chart
Se
nsex
(
34916)
/ Nifty
(
10302
)
Yesterday, our markets opened higher as indicated by the SGX
Nifty. During the initial hour, we saw gains extending a bit as
Nifty inched closer to 10400. However post this, we witnessed
a long period of lull and markets were completely unmoved
for quite sometime. At the stroke of the penultimate hour, all
of a sudden index started correcting and within no time, all
gains just disappeared. Fortunately, due to modest recovery at
the end, Nifty managed to defend 10300 on a closing basis.
Yesterday it was a day of boredom for our markets and as we
alluded in the previous article as well, the market is lacking
clear direction. Hence, the commentary more or less remains
the same. We continue to remain hopeful as long as 10194 is
not broken convincingly and a positive trigger on global or
domestic front would take this market higher. The support can
be seen at 10250-10194 levels; whereas on the higher side,
the upward momentum will get resumed above 10400-10450.
Key Levels
Support 1 – 10250 Resistance 1 – 10400
Support 2 – 10194 Resistance 2 – 10450
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
July 01, 2020
Nifty Vs OI
9400
9600
9800
10000
10200
10400
10600
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
6/9 6/11 6/15 6/17 6/19 6/23 6/25 6/29
(`000)
Openinterest Nifty
View
s
Yesterday, Index started on a positive note however it
traded within a narrow range for the most part of the
session. In the last hour however sell-off was seen
which erased all gains to end flat tad above 10300
levels.
FIIs were net sellers in the cash market segment to the
tune of Rs. 2000 crores. In index futures, they bought
worth 367 crores with an increase in open interest
indicating long formation and short covering in
yesterday’s session
.
Indices consolidated in a narrow range in yesterday's
session wherein open interest build up was seen in
Bank Nifty. FII's were net sellers in the cash segment
whereas they continue to be net short in the index
futures segment. The options open interest is
scattered from 10300-10700 calls whereas some build
up was seen in 10100 put yesterday. As the index has
traded within the range of 10200-10400 in last few
days, traders are advised to watch for a breakout
beyond the range for some directional move
.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.06%
Bank Nifty futures open interest has increased by 9.49%
as market closed at 10302.10 levels.
The Nifty July future closed with a discount of 61.85 point
against a discount of 56.6 point in last trading session.
The August series closed at a discount of 66.1 point.
The INDIA VIX has increased from 28.91 to 29.12
At the same time, the PCR-OI of Nifty decreased from
1.30 to 1.19.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GMRINFRA, HINDALCO, EQUITAS AND
JINDALSTEL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
PETRONET 19524000 44.56 258.05 -2.04
JINDALSTEL 20615000 37.39 161.50 5.55
BEL 26630400 30.21 88.65 0.58
ITC 91161600 15.11 194.65 -1.42
SAIL 53371000 13.17 30.40 2.53
IBULHSGFIN 12201600 12.39 207.15 -4.27
ASHOKLEY 47124000 11.83 46.95 -3.30
HINDPETRO 20622600 11.67 216.65 -4.06
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CENTURYTEX 2265200 -9.10 294.50 -1.19
MRF 15580 -7.21 67274.20 3.01
CIPLA 11013600 -6.96 640.25 -0.79
LICHSGFIN 7218000 -6.77 265.05 0.04
UBL 891800 -6.32 1037.75 4.27
NIITTECH 544875 -5.95 1409.25 -0.68
CANBK 9720000 -5.68 100.55 -0.89
IDEA 405300000 -5.64 10.60 -4.91
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.19 0.94
BANKNIFTY 0.73 0.86
RELIANCE 0.58 0.42
ICICIBANK 0.51 0.51
INFY 0.66 0.41
Historical Volatility
SCRIP HV
CADILAHC 45.01
MRF 40.86
BOSCHLTD 48.99
ACC 42.41
UBL 46.22
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Technical & Derivatives Report
July 01, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot =
10302.10
FII Statistics for June 30, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
4335.35
3968.69
366.66
100061
7239.54
1.02
INDEX
OPTIONS
188065.61
186801.10
1264.51
640556
43814.37
6.85
STOCK
FUTURES
12828.93
12337.84
491.09
1312284
84116.20
1.87
STOCK
OPTIONS
3124.76
3163.27
(38.51) 66491
4240.22
7.90
Total 208354.65
206270.90
2083.75
2119392
139410.33
3.47
Turnover on June 30, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,90,621 31145.46 -7.13
Index Options 1,63,01,278
9,63,411.98 15.36
Stock Futures 6,88,362 44635.12 -1.65
Stock Options 5,92,636 40662.08 -3.45
Total 1,80,72,897
10,79,854.64
12.93
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 10300 282.95
48.85 51.15 10348.85
Sell 10400 234.10
Buy 10300 282.95
91.05 108.95 10391.05
Sell 10500 191.90
Buy 10400 234.10
42.20 57.80 10442.20
Sell 10500 191.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 10300 344.55
47.00 53.00 10253.00
Sell 10200 297.55
Buy 10300 344.55
88.50 111.50 10211.50
Sell 10100 256.05
Buy 10200 297.55
41.50 58.50 10158.50
Sell 10100 256.05
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
9700 9800 9900 10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000
Call Put
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
338
341
345
348
353
ASIANPAINT 1,659 1,673
1,696
1,710
1,732
AXISBANK
398
402
409
413
419
BAJAJ-AUTO 2,753 2,790
2,852
2,888
2,950
BAJFINANCE 2,741 2,786
2,861
2,906
2,982
BAJAJFINSV 5,674 5,759
5,902
5,987
6,129
BPCL
361
368
378
385
396
BHARTIARTL
545
553
565
572
584
INFRATEL
216
219
222
225
228
BRITANNIA 3,511 3,558
3,586
3,633
3,661
CIPLA
631
636
643
647
655
COALINDIA
129
131
134
136
139
DRREDDY 3,875 3,910
3,960
3,995
4,046
EICHERMOT 18,026
18,180
18,355
18,509
18,684
GAIL
100
101
103
104
106
GRASIM
602
611
620
629
637
HCLTECH
549
553
557
561
565
HDFCBANK 1,045 1,055
1,067
1,078
1,089
HDFC 1,719 1,737
1,765
1,783
1,810
HEROMOTOCO
2,486
2,517
2,542
2,573
2,599
HINDALCO
141
144
148
150
154
HINDUNILVR 2,153 2,167
2,183
2,197
2,213
ICICIBANK
343
347
351
355
359
IOC
82
84
86
88
90
INDUSINDBK
458
467
480
489
502
INFY
718
727
733
742
748
ITC
191
193
196
198
201
JSW STEEL
183
186
191
194
199
KOTAKBANK 1,332 1,346
1,359
1,374
1,387
LT
922
933
942
953
963
M&M
503
507
511
515
520
MARUTI 5,605 5,722
5,798
5,915
5,991
NESTLEIND 16,531
16,853
17,075
17,397
17,620
NTPC
94
95
96
97
99
ONGC
79
80
82
83
85
POWERGRID
170
173
176
179
182
RELIANCE 1,668 1,686
1,714
1,732
1,759
SHREECEM 21,920
22,485
22,908
23,473
23,896
SBIN
174
176
180
182
185
SUNPHARMA
461
467
476
481
490
TCS 2,053 2,068
2,090
2,104
2,127
TATAMOTORS
94
96
99
101
104
TATASTEEL
315
321
329
335
344
TECHM
537
540
545
548
552
TITAN
931
940
956
966
982
ULTRACEMCO 3,791 3,842
3,873
3,925
3,956
UPL
407
416
431
440
456
VEDANTA
102
104
107
109
112
WIPRO
216
218
220
222
224
ZEEL
166
169
172
175
178
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Technical & Derivatives Report
July 01, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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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 ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com