www.angelbroking.com
Technical & Derivatives Report
December 02, 2020
Nifty
Bank Out
look
-
(
29818
)
Bank Nifty as well started on a positive note however the
morning gains immediately got sold off in the first few minutes.
Subsequently, the ongoing optimism resulted the intraday dip
getting bought, and eventually, the bank index ended with gains
of 0.71% at 29818.
After a mesmerizing move in the first half of November month,
the last week or more has been more of consolidation and the
bank nifty has oscillated within a broad range. Going ahead, we
sense the bank index may continue with this time-wise correction
for the next few sessions ahead of the RBI policy held on Friday.
Traders in such a scenario can get opportunities to trade on both
sides of the trend however one should avoid aggressive bets and
have a proper exit setup. As far as levels are concerned,
immediate support is placed around 29500 - 29350 whereas
resistance is seen around 30200 - 30350.
Key Levels
Support 1 – 29500 Resistance 1 – 30200
Support 2 – 29350 Resistance 2 – 30350
Exhibit 1: Nifty Daily Chart
Se
nsex
(
44655)
/ Nifty
(
13109
)
After an extended weekend, our markets opened higher on the
back of cheerful mood across the globe. However, within the first
five minutes of trade, the index pared down all gains, which again
did not last too long. Market saw some indecisive volatile swings in
the initial trades; but then got settled with it's broader degree up
trend. During the remaining part, we witnessed a sustained up
move to reclaim the 13100 mark, registering highest close ever.
Yesterday's move indicates how strong the overall trend has been,
because all declines in the recent past are comfortably getting
bought into. For the coming session, 13150 is the immediate level
to watch and after surpassing it, we may see an extension of the
move towards 13225 - 13300 levels. However, when
everything looks so hunky dory, it's advisable to be a bit pro active
as well. As a momentum trader, there is no harm taking some
money off the table and hence, we advocate staying light from here
on.
It's advisable to continue with a stock specific approach and take
one step at a time.As far as support levels are concerned, 13020
followed by 12914 are to be seen as key points.
.Key Levels
Support 1 – 13020 Resistance 1 – 13325
Support 2 – 12914 Resistance2 – 13300
Exhibit 2: Nifty Bank Daily Chart
www.angelbroking.com
Technical & Derivatives Report
December 02, 2020
Nifty Vs OI
11200
11400
11600
11800
12000
12200
12400
12600
12800
13000
13200
13400
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
11/4 11/6 11/10 11/12 11/17 11/20 11/24 11/26 12/1
(`000)
Openinterest
View
We had a cheerful start for the week; however, these
gains were short lived as we saw some profit booking
in the early moring trade. Post some hiccups index
once again resumed its uptrend to rally beyond 13100
mark.
FIIs were net buyers in the cash segment to the tune
of Rs. 3242 crore. In index future segment, they sold
worth Rs. 482 crores with some rise in open interest
indicating blend of short and long unwinding in
yesterday’s session.
The rollovers in Nifty are above its average and FII’s
too have rolled their long positions in the index
futures segment. In November series, they bought
equities worth Rs. 65,317 crores (highest ever in single
month). As far as options activities are concerned, we
saw fresh writing in 13000-13100 put options. On the
flip side, build-up was scattered between
13000-13400 call strikes. At present, the FIIs long
short ratio has surged to 80%, which is at 40 months
high. The volatility index is also on the lower side of
the range and is expected to rise hereon. We believe
market is now overbought and hence we would advise
traders avoiding any aggressive bets in index.
However, traders are advise trading in individual
counters for better risk reward ratio.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 0.22%
Bank Nifty futures open interest has increased by 2.30%
as market closed at 13109 levels.
The Nifty December future closed with a premium 34.35
point against a premium of 48.45 point in last trading
session. The January series closed at a premium of 53.80
point.
The INDIA VIX has increased from 19.81 to 20.18.
At the same time, the PCR-OI of Nifty increased from
1.28 to 1.46.
Few of the liquid counters where we have seen high cost
of carry are IDEA, BHEL, MANAPPURAM, VEDL, AND
ADANIENT.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CANBK 23118800 26.82 109.90 5.89
SAIL 67089000 18.49 49.95 3.08
MOTHERSUMI 23506000 16.68 157.20 5.95
APOLLOHOSP 2262500 15.02 2462.95 3.82
UPL 27606800 13.70 433.05 3.62
HEROMOTOCO 3750900 10.03 3110.30 -0.94
GAIL 26236100 9.97 110.70 7.72
IDEA 553210000 9.89 10.01 2.53
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MGL 1215000 -13.57 1059.35 -0.29
CHOLAFIN 4715000 -10.49 374.80 -2.58
LICHSGFIN 16960000 -8.91 339.30 2.46
BAJAJ-AUTO 1969250 -5.98 3243.65 1.88
INFY 35209200 -5.60 1137.85 2.99
ICICIPRULI 6555000 -5.39 457.35 3.07
BAJAJFINSV 846750 -4.87 8746.35 -0.16
CIPLA 16376100 -4.71 755.60 1.30
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.46 0.98
BANKNIFTY 1.01 0.92
RELIANCE 0.59 0.39
ICICIBANK 0.56 0.43
INFY 0.53 0.37
Historical Volatility
SCRIP HV
GAIL 48.82
SUNPHARMA 44.05
TATAPOWER 51.89
UBL 43.61
CANBK 61.25
www.angelbroking.com
Technical & Derivatives Report
December 02, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot =
13109
FII Statistics for December 01, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2784.32 3266.51 (482.19) 143268 13685.53 0.57
INDEX
OPTIONS
196676.41 196660.00 16.41
761987 71085.72 6.91
STOCK
FUTURES
13781.63 13589.40 192.23
1333397 101991.41 0.49
STOCK
OPTIONS
3811.50 3793.25 18.25
53279 4084.55 12.45
Total 217053.86
217309.16
(255.30) 2291931
190847.21
2.80
Turnover on December 01, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,96,069 24924.76 -31.31
Index Options
1,87,86,598
15,89,292.22
18.66
Stock Futures
7,28,498 56420.02 -39.03
Stock Options
9,62,191 78087.93 -4.13
Total
2,07,73,356
17,48,724.93
12.85
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 13100 291.90
54.35 45.65 13154.35
Sell 13200 237.55
Buy 13100 291.90
104.60 95.40 13204.60
Sell 13300 187.30
Buy 13200 237.55
50.25 49.75 13250.25
Sell 13300 187.30
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 13100 243.85
40.60 59.40 13059.40
Sell 13000 203.25
Buy 13100 243.85
75.60 124.40 13024.40
Sell 12900 168.25
Buy 13000 203.25
35.00 65.00 12965.00
Sell 12900 168.25
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
www.angelbroking.com
Technical & Derivatives Report
December 02, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
407
415
421
429
435
ASIANPAINT 2,168 2,199
2,237
2,268
2,306
AXISBANK
586
595
605
614
624
BAJAJ-AUTO 3,130 3,187
3,218
3,275
3,306
BAJFINANCE 4,752 4,807
4,880
4,934
5,007
BAJAJFINSV 8,646 8,697
8,763
8,813
8,879
BPCL
367
373
377
384
388
BHARTIARTL
452
466
474
488
496
BRITANNIA 3,536 3,582
3,642
3,689
3,749
CIPLA
740
748
754
762
768
COALINDIA
124
125
126
127
128
DIVISLAB 3,489 3,555
3,662
3,728
3,836
DRREDDY 4,771 4,801
4,835
4,865
4,899
EICHERMOT 2,488 2,510
2,548
2,570
2,607
GAIL
100
105
109
114
118
GRASIM
845
876
894
925
942
HCLTECH
808
821
828
842
849
HDFCBANK 1,412 1,423
1,436
1,446
1,459
HDFCLIFE
629
636
646
652
662
HDFC 2,177 2,242
2,283
2,348
2,389
HEROMOTOCO 3,050 3,080
3,105
3,135
3,160
HINDALCO
219
224
228
233
237
HINDUNILVR 2,111 2,122
2,141
2,152
2,170
ICICIBANK
468
477
483
491
497
IOC
83
85
85
87
87
INDUSINDBK
843
869
885
911
926
INFY 1,093 1,115
1,128
1,150
1,163
ITC
190
192
194
196
198
JSW STEEL
349
354
356
361
363
KOTAKBANK 1,825 1,850
1,890
1,916
1,956
LT 1,094 1,105
1,122
1,134
1,151
M&M
698
716
726
745
755
MARUTI 6,906 7,004
7,073
7,171
7,240
NESTLEIND 16,870
17,144
17,606
17,880
18,342
NTPC
92
93
94
95
97
ONGC
75
78
80
83
85
POWERGRID
189
191
193
195
198
RELIANCE 1,914 1,935
1,950
1,971
1,987
SBILIFE
834
843
849
858
864
SHREECEM 23,932
24,420
25,038
25,526
26,144
SBIN
242
245
247
250
252
SUNPHARMA
501
520
532
551
562
TCS 2,584 2,656
2,696
2,767
2,807
TATAMOTORS
176
178
180
182
184
TATASTEEL
570
578
585
593
600
TECHM
855
881
898
924
940
TITAN 1,303 1,322
1,354
1,373
1,406
ULTRACEMCO 4,752 4,831
4,884
4,963
5,016
UPL
412
423
428
439
445
WIPRO
343
348
351
356
359
www.angelbroking.com
Technical & Derivatives Report
December 02, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: techni[email protected]king.com
For Derivatives Queries E-mail: deri[email protected]
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel
Broking Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide
registration number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory
authority for accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed
or co-managed public offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate
the contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this
report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we
cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this
document. While Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there
may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
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