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Technical &
Derivatives Report
October 01, 2020
Nifty
look
-
(
21452
)
Once again bank nifty started on a flat note and slipped to mark
intraday low of 21128. Subsequently, the bank index witnessed a
sharp bounce from lower levels to eventually end near the
opening levels with marginal gains of 0.19% at 21451.80.
Technically not much has changed and the formation of Dragon
Fly Doji indicates that the traders are baffled with the immediate
trend. Although we have been cautious with the recent bounce for
the last few days we are not seeing selling pressure in the broader
markets as expected hence the next few sessions will be crucial
how the key driver of market (bank nifty) pan out. Immediate
resistance is placed around 21820 and 22000 levels whereas the
selling pressure may resume if prices sustain below 21100 levels.
Ahead of extended weekend it would be better to keep positions
light.
Key Levels
Support 1 – 21100 Resistance 1 – 21820
Support 2 – 21000 Resistance 2 – 22000
Exhibit 1: Nifty Daily Chart
Sensex (38068) / Nifty (11248)
Yesterday early morning, Dow future was extremely volatile as it was
reacting to the debate conducted between the US presidential
candidates. Initially it was firm but post the conclusion of the same,
Dow future just nosedived and despite this, our markets opened
slightly in the green. During the remaining part, we witnessed some
volatile swings in a band of 100 points to end marginally in the
positive territory.
The kind of price action we witnessed yesterday, was clearly a
nightmare for momentum traders. Because the moment one decides
where market is going, it just reverses and moves in opposite
direction. This scenario was repeated more than a couple of times
and hence, it turned out to be an extremely difficult day for traders.
Basically, Nifty was trapped in a range of 11200-11300 and it
appeared as if the options writers had the edge yesterday one day
ahead of the weekly expiry. As per our recent directional view, we still
see 11300-11350 as a sturdy wall and till the time it's not crossed
convincingly, we may see some profit booking at higher levels.
However, on the lower side, if any weakness has to trigger, the Nifty
needs to break below 11180-11150.
.Key Levels
Support 1 – 11180 Resistance 1 – 11300
Support 2 – 11150 Resistance2 – 11350
Exhibit 2: Nifty Bank Daily Chart
Let us see which way market is willing to go as we step into the
October month. Yesterday, the banking index was the first one to
drag benchmark lower but a smart recovery in the latter half was
encouraging. So, banking as always plays a vital role and the next
path of action is very much depended on its movement going
forward. Although, we have been a bit cautious since few days, after
the recovery from last week's low, market are not willing to fall. So
next 2-3 sessions would be quite crucial and accordingly, we shall
reassess the situation.
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Technical & Derivatives Report
October 01, 2020
Nifty Vs OI
10400
10600
10800
11000
11200
11400
11600
11800
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
9/16 9/17 9/18 9/21 9/23 9/24 9/25 9/28 9/29 9/30
(`000)
Openinterest Nifty
View
s
Nifty oscillated within a range of about 100 points
yesterday and ended around 11250 mark.
FIIs sold worth Rs. 712 crores in cash market segment
whereas in index future segment they bought worth Rs.
725crores with increase in open interest indicating long
formation in yesterday’s sessions.
Both the indices witnessed addition of open interest in
yesterday's session. FII's were net sellers in the cash
segment but they formed bullish positions in the
derivatives segment. In options segment, open interest
addition was seen in 11250-11400 strikes while 11250-
11000 put options too added open interest. The
immediate resistances as per the data are seen around
11300 followed by 11400 while support is placed
around 11200; thus traders are advised to trade
according to the intraday momentum for the expiry
day.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 5.01%
Bank Nifty futures open interest has increased by 8.23%
as market closed at 11247.55 levels.
The Nifty October future closed with a premium of 9.3
point against a premium of 12.3 point in last trading
session. The November series closed at a premium of 32.5
point.
The INDIA VIX has decreased from 19.77 to 19.53.
At the same time, the PCR-OI of Nifty increased from 1.28
to 1.34.
Few of the liquid counters where we have seen high cost
of carry are IDEA, PAGEIND, HDFCLIFE, PNB AND ZEEL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CADILAHC 7616400 18.16 395.05 1.84
BPCL 26884800 15.85 353.05 -8.83
APOLLOHOSP 1832000 12.29 2148.10 2.42
SAIL 48260000 9.11 33.75 -5.17
DABUR 11081250 8.56 510.55 2.62
COFORGE 550875 6.37 2322.20 -0.14
LICHSGFIN 7346000 6.22 275.80 -0.88
GLENMARK 7235800 6.07 482.65 -0.62
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BALKRISIND 1580000 -11.63 1477.00 -0.45
INFRATEL 13745200 -7.15 175.30 -1.81
SHREECEM 160200 -6.64 20256.95 2.05
GAIL 23802200 -6.11 86.80 -0.97
HINDALCO 28582100 -4.78 175.25 -0.79
SRTRANSFIN 3971985 -4.20 619.35 1.55
JINDALSTEL 23915000 -4.17 186.85 -3.18
INDIGO 2673500 -4.09 1249.10 0.89
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.34 0.97
BANKNIFTY 1.00 0.87
RELIANCE 0.55 0.34
ICICIBANK 0.65 0.48
INFY 0.54 0.52
Historical Volatility
SCRIP HV
BPCL 59.77
DABUR 33.01
SAIL 67.38
TORNTPHARM 46.27
BHARTIARTL 50.06
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Technical & Derivatives Report
October 01, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (October Series) are given as an information and not as a recommendation.
Nifty Spot =
11247.55
FII Statistics for September 30, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3826.42
3101.64
724.78
107736
8008.82
5.80
INDEX
OPTIONS
253298.97
253297.46
1.51
841555
65265.88
7.53
STOCK
FUTURES
13163.59
12927.36
236.23
1117142
75682.31
(0.18)
STOCK
OPTIONS
3493.21
3470.13
23.08
58020
4180.17
7.31
Total 273782.19
272796.59
985.60
2124453
153137.18
3.25
Turnover on September 30, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
4,91,160 30930.35 -5.74
Index Options
3,23,10,409 21,04,577.29 24.82
Stock Futures
7,01,398 52671.54 -7.08
Stock Options
7,66,837 61312.46 -3.30
Total 3,42,69,804 22,49,491.64 22.32
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11200 255.65
54.80 45.20 11254.80
Sell 11300 200.85
Buy 11200 255.65
104.75 95.25 11304.75
Sell 11400 150.90
Buy 11300 200.85
49.95 50.05 11349.95
Sell 11400 150.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11200 200.65
35.75 64.25 11164.25
Sell 11100 164.90
Buy 11200 200.65
65.30 134.70 11134.70
Sell 11000 135.35
Buy 11100 164.90
29.55 70.45 11070.45
Sell 11000 135.35
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
10500 10600 10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800
Call Put
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Technical & Derivatives Report
October 01, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
323
332
339
349
356
ASIANPAINT 1,937 1,962
1,983
2,008
2,029
AXISBANK
414
420
424
429
433
BAJAJ-AUTO 2,828 2,854
2,897
2,923
2,966
BAJFINANCE 3,210 3,244
3,294
3,328
3,378
BAJAJFINSV 5,758 5,805
5,867
5,914
5,976
BPCL
320
336
365
382
411
BHARTIARTL
404
413
427
435
449
BRITANNIA 3,668 3,733
3,779
3,844
3,890
CIPLA
743
759
777
793
811
COALINDIA
113
115
116
117
118
DIVISLAB 2,979 3,014
3,074
3,109
3,169
DRREDDY 4,964 5,076
5,197
5,309
5,430
EICHERMOT 2,168 2,185
2,203
2,221
2,239
GAIL
84
85
87
88
89
GRASIM
704
724
735
755
767
HCLTECH
800
806
813
819
826
HDFCBANK 1,038 1,058
1,073
1,093
1,107
HDFCLIFE
546
553
562
569
578
HDFC 1,688 1,714
1,729
1,755
1,770
HEROMOTOCO 3,097 3,122
3,160
3,185
3,223
HINDALCO
170
173
175
178
180
HINDUNILVR 2,003 2,036
2,066
2,099
2,129
ICICIBANK
346
350
354
358
362
IOC
72
73
74
75
77
INDUSINDBK
510
519
529
538
549
INFY
993
1,001
1,012
1,020
1,031
ITC
167
170
171
173
174
JSW STEEL
269
274
279
283
289
KOTAKBANK 1,241 1,254
1,266
1,279
1,291
LT
876
889
897
909
917
M&M
595
601
612
619
630
MARUTI 6,623 6,683
6,731
6,792
6,840
NESTLEIND 15,427
15,673
15,851
16,097
16,275
NTPC
82
84
85
86
87
ONGC
66
68
69
71
72
POWERGRID
159
161
162
164
165
RELIANCE 2,200 2,217
2,242
2,259
2,284
SBILIFE
797
804
809
817
822
SHREECEM 19,278
19,768
20,151
20,641
21,024
SBIN
180
183
185
187
189
SUNPHARMA
487
494
505
512
523
TCS 2,441 2,467
2,486
2,512
2,531
TATAMOTORS
129
131
133
135
137
TATASTEEL
350
355
363
368
377
TECHM
755
773
784
802
813
TITAN 1,148 1,175
1,190
1,216
1,232
ULTRACEMCO 3,979 4,014
4,058
4,094
4,138
UPL
486
494
500
509
515
WIPRO
307
310
313
316
319
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Technical & Derivatives Report
October 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]oking.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