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Technical & Derivatives Report
December 01, 2020
Nifty
Bank Out
look
-
(
29609
)
It was lackluster session for Index specific trades on Friday, as Bank
Nifty started on a flat note and then consolidated within a narrow
range throughout the session to end with marginal gains tad
above 29600 levels.
The Bank Nifty witnessed a mesmerizing November month as it
outperformed and rallied around 24% during the month. The last
last one week or more however has been more of consolidation as
prices have generally moved as one up day and one down day and
so. Going ahead, we sense the consolidation may continue as
prices continues to remain outstretched from short term averages
and oscillators are still placed in overbought territory. In such
scenario, traders can get opportunity to trade on both sides of
trend however one needs to avoid aggressive bets. As far as levels
are concerned, immediate support is placed around 29250 and
28900 whereas resistance is placed around 30000 and 30200.
Key Levels
Support 1 – 29250 Resistance 1 – 30000
Support 2 – 28900 Resistance 2 – 30200
Exhibit 1: Nifty Daily Chart
Sensex (44150) / Nifty (12969)
It was yet another week of consolidation for our market after a
relentless rally in the first half of the November month. During the
last week, Nifty registered a fresh record high of 13145.85, but saw
some profit booking at higher levels. However, it didn’t correct much;
because the undertone still remains strongly bullish. In fact, we saw
modest recovery towards the fag end to conclude the week with
nearly a percent gain around the 13000 mark.
The November month has been the historical one for our markets as
we saw two key indices, Nifty and Bank Nifty clocking sizable gains
over 11% and 24%, respectively. In the midst of all this, Nifty
surpassed its previous record high and reached the milestone of
13000. Clearly, FIIs have been the charioteer of this mesmerizing rally
as they relentlessly pumped money into our market to mark the
biggest single month inflows over Rupees 50000 crores. Now,
coming back to the levels, 13040 - 13146 remains to be an
immediate resistance zone; whereas on the lower side, 12900 -
12868 - 12790 can be seen as a cluster of supports. With last week’s
minor decline, 12790 - 12730 has become a sacrosanct support and
till the time it is not breached convincingly, one should trade with a
positive bias.
Although the overall trend has been strongly up, we still believe that
one should avoid aggressive bets, rather focus on individual stocks
with proper risk management. The ideal range for coming sessions
would be 13150 - 12730 and till the time we do not breakout
outside this range, we are likely to see trades on both sides,
especially in indices. Above 13150, next levels to watch out for would
be 13250 - 13400 but the move will not be as swift as it has been in
the recent past. The real action continues in the broader markets as
we can see stellar moves in a lot of mid and small counters.
.Key Levels
Support 1 – 12900 Resistance 1 – 13040
Support 2 – 12868 Resistance2 – 13150
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
December 01, 2020
Nifty Vs OI
10500
11000
11500
12000
12500
13000
13500
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
10/30 11/3 11/5 11/9 11/11 11/13 11/19 11/23 11/25 11/27
(`000)
Openinterest Nifty
View
We started the week on a positive note and registered
another record high of 13145, however, the index
witnessed some consolidation ahead of the monthly
expiry and ended the week tad below the 13000 mark.
FIIs were net buyers in the cash segment to the tune of
Rs. 7713 crores (includes MSCI adjustment). In index
future segment, they bought worth Rs. 1770 crores with
increase in open interest indicating long formations on
Friday.
The rollovers in Nifty are above its average and FII’s too
have rolled their long positions in the index futures
segment. Also, they continued to be aggressive buyers
in the cash segment throughout the week. Presently
there are no negative signs as per the data and hence,
we could continue to see some buying interest on
declines in the index. As far as levels are concerned,
13100-13200 range is the immediate resistance
whereas near term support is placed around the 12800
mark. Stock specific movement could provide some
better trading opportunities in the coming week and
hence, traders are advised to capitalize on the same.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 5.23%
Bank Nifty futures open interest has increased by 2.30%
as market closed at 12968.95 levels.
The Nifty November future closed with a premium of
48.45 point against a premium of 35.55 point in last
trading session. The January series closed at a premium
of 69.55 point.
The INDIA VIX has decreased from 20.02 to 19.81.
At the same time, the PCR-OI of Nifty decreased from
1.48 to 1.28.
Few of the liquid counters where we have seen high cost
of carry are IDEA, BHEL, PNB, LICHSGFIN, AND VEDL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MRF 61910 85.25 77740.35 0.94
KOTAKBANK 26133200 76.15 1907.10 -0.04
LICHSGFIN 18618000 58.83 329.00 1.33
BALKRISIND 2051200 56.29 1659.40 2.64
SRTRANSFIN 4627364 47.75 1070.20 0.00
ACC 2103500 47.20 1705.05 0.21
NESTLEIND 328900 45.79 17888.20 0.18
NATIONALUM 36890000 44.57 39.20 3.33
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
SRF 444000 -12.86 5133.65 0.51
BANDHANBNK 10456200 -12.46 367.00 -0.03
GMRINFRA 53505000 -12.38 26.80 3.08
TATACHEM 3520000 -11.91 392.10 2.07
SIEMENS 1546600 -11.27 1513.45 -0.46
MANAPPURAM 18036000 -8.66 179.85 4.03
TATASTEEL 36363000 -7.57 577.35 1.25
RAMCOCEM 1297950 -6.83 892.15 3.04
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.28 0.94
BANKNIFTY 0.94 0.92
RELIANCE 0.61 0.51
ICICIBANK 0.55 0.54
INFY 0.49 0.44
Historical Volatility
SCRIP HV
MGL 48.53
IGL 46.56
EXIDEIND 41.18
CUMMINSIND 41.33
L&TFH 68.06
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Technical & Derivatives Report
December 01, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot =
12968.95
FII Statistics for November 27, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
5744.90
3974.42
1770.48
142457
13474.85
5.72
INDEX
OPTIONS
211743.76
210891.26
852.50
712746
66774.07
17.94
STOCK
FUTURES
30034.63
33769.72
(3735.09) 1326954
100247.99
4.51
STOCK
OPTIONS
4544.68
4616.88
(72.20) 47381
3571.66
106.81
Total 252067.97
253252.28
(1184.31) 2229538
184068.57
9.74
Turnover on November 27, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
4,37,658 36286.85 -40.85
Index Options
1,58,88,379
13,39,387.71
-80.87
Stock Futures
11,92,795
92538.73 -13.19
Stock Options
10,05,483
81455.01 -6.99
Total
1,85,24,315
15,49,668.30
-78.65
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 13000 276.70
49.70 50.30 13049.70
Sell 13100 227.00
Buy 13000 276.70
95.45 104.55 13095.45
Sell 13200 181.25
Buy 13100 227.00
45.75 54.25 13145.75
Sell 13200 181.25
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 13000 259.90
44.00 56.00 12956.00
Sell 12900 215.90
Buy 13000 259.90
80.00 120.00 12920.00
Sell 12800 179.90
Buy 12900 215.90
36.00 64.00 12864.00
Sell 12800 179.90
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
12500 12600 12700 12800 12900 13000 13100 13200 13300 13400 13500 13600 13700 13800
Call Put
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Technical & Derivatives Report
December 01, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
404
408
412
416
420
ASIANPAINT 2,129 2,172
2,208
2,252
2,288
AXISBANK
590
596
605
611
620
BAJAJ-AUTO 3,073 3,123
3,186
3,236
3,299
BAJFINANCE 4,710 4,809
4,885
4,984
5,060
BAJAJFINSV 8,537 8,648
8,791
8,902
9,046
BPCL
363
368
376
381
389
BHARTIARTL
455
459
466
470
477
BRITANNIA 3,427 3,532
3,609
3,714
3,790
CIPLA
729
737
743
751
757
COALINDIA
124
125
126
127
128
DIVISLAB 3,441 3,523
3,592
3,673
3,742
DRREDDY 4,732 4,780
4,858
4,907
4,984
EICHERMOT 2,453 2,494
2,556
2,597
2,659
GAIL
98
101
104
106
109
GRASIM
861
869
877
884
893
HCLTECH
795
808
828
842
862
HDFCBANK 1,404 1,422
1,434
1,453
1,465
HDFCLIFE
629
638
651
660
673
HDFC 2,173 2,215
2,244
2,285
2,314
HEROMOTOCO 3,000 3,054
3,086
3,141
3,173
HINDALCO
216
221
226
231
236
HINDUNILVR 2,102 2,120
2,144
2,162
2,185
ICICIBANK
466
470
475
478
483
IOC
83
84
85
86
87
INDUSINDBK
842
850
856
864
870
INFY 1,074 1,087
1,104
1,117
1,134
ITC
192
193
194
195
197
JSW STEEL
339
345
353
359
368
KOTAKBANK 1,815 1,861
1,893
1,939
1,971
LT 1,070 1,096
1,118
1,144
1,166
M&M
693
708
725
740
757
MARUTI 6,845 6,940
7,026
7,121
7,207
NESTLEIND 16,517
17,203
17,636
18,322
18,755
NTPC
89
92
95
97
100
ONGC
76
77
79
80
82
POWERGRID
184
188
193
197
202
RELIANCE 1,901 1,915
1,936
1,950
1,970
SBILIFE
832
839
848
855
865
SHREECEM 22,884
23,595
24,062
24,773
25,240
SBIN
240
242
244
246
248
SUNPHARMA
502
507
514
519
525
TCS 2,640 2,660
2,689
2,709
2,737
TATAMOTORS
170
175
180
185
189
TATASTEEL
555
566
574
585
594
TECHM
842
859
873
890
903
TITAN 1,293 1,327
1,348
1,382
1,403
ULTRACEMCO 4,712 4,757
4,815
4,860
4,919
UPL
411
414
420
423
429
WIPRO
342
346
352
356
362
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Technical & Derivatives Report
December 01, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalresearc[email protected]
For Derivatives Queries E-mail: [email protected].com
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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]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com