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February 03, 2021
Technical
& Derivatives Report
Nifty
look
-
(
34268)
Markets had a fabulous budget session on Monday (especially
banking space); but they were still not done with their optimism.
The banking index opened at new high with a good bump up
yesterday along with the benchmark index. After the initial hour,
banks cooled off a bit and corrected slightly towards the
midsession. However, the momentum was regained towards the
end to clock handsome gains over three and half a percent for the
second straight session. The budget exuberance extended
yesterday as well and the global set up was too supportive for the
move. However, expecting similar kind of momentum for the third
consecutive day, would certainly be a difficult task. Although, the
undertone remains bullish, traders are now advises to be a bit
watchful and should avoid aggressive bets at higher levels. For the
coming session, 33700 - 33500 would be seen as immediate
supports; whereas on the higher side, 34500 - 34700 are the levels
to watch out for.
Key Levels
Support 1 – 33700 Resistance 1 – 34500
Support 2 – 33500 Resistance 2 – 34700
Exhibit 1: Nifty Daily Chart
Se
nsex
(
49798)
/ Nifty
(
14648
)
After Monday’s gigantic run up, market participants continued with
the cheerful mood and thus the index started the session with a
decent gap up. The index continued its momentum with buying seen
on intraday dips and Nifty ended the day around 14650, marking its
highest close ever.
The post budget move on Monday accelerated the uptrend and
similar exuberance continued in yesterday’s session as well. The bulls
have regained complete control and have recovered the recent
losses within no time. Such is the usual characteristic of a strong bull
market and the banking space yesterday continued to lead this
uptrend. Nifty is just a few points away to reclaim new highs and it
is all set to once again enter unchartered territory. Along with the
indices, the stock specific moves are mesmerizing as many stocks
have rallied sharply in these couple of sessions. Going ahead, we
expect this uptrend to continue, although the velocity of the upmove
could not be the same as seen in the last two days. However, one
should continue to be with the trend and look for stock specific
trading opportunities as many potential moves are providing good
opportunities with high returns to traders. The intraday support for
Nifty is placed in the range of 14500-14450 whereas resistances are
seen around 14760 and 14880.
Key Levels
Support 1 – 14500 Resistance 1 – 14760
Support 2 – 14450 Resistance2 – 14880
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
February 03, 2021
Nifty Vs OI
13200
13400
13600
13800
14000
14200
14400
14600
14800
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
1/21 1/25 1/28 2/1
(`000)
Openinterest Nifty
View
The indices started the session with a gap up and continued
to trend higher to post gains of over two and a half percent
in Nifty.
FIIs were net buyers in the cash segment to the tune of
Rs. 6182 crore. In index future segment, they sold worth Rs.
975 crore with decrease in open interest indicating long
unwinding in yesterday’s session.
While no relevant change in open interest was seen in Nifty,
the banking index witnessed short covering as traders with
short positions ran to cover their positions due to sharp
rally. However, FII's chose to book profits in some of their
index futures longs. The options data hints at a support in
the range of 14500-14400 and as the overall data continues
to be positive, we continue with our advice to trade with a
positive bias for a probable target around 14750-14800.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 1.02%
Bank Nifty futures open interest has decreased by 10.78%
as market closed at 14647.85 levels.
The Nifty February future closed with a premium of 48.15
point against a premium of 70.05 point in last trading
session. The March series closed at a premium of 88.05
point.
The INDIA VIX increase from 23.32 to 23.34.
At the same time, the PCR-OI of Nifty decreased from
1.41 to 1.39.
Few of the liquid counters where we have seen high cost
of carry are IDEA, ZEEL, GAIL, ASHOKLEY AND CADILAHC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HDFCLIFE 8980400 17.70 681.05 -2.57
ZEEL 28905000 16.04 242.90 7.31
L&TFH 26325800 14.52 93.70 3.00
AMARAJABAT 1857000 14.00 940.95 0.56
HINDUNILVR 7048500 13.57 2230.50 -0.83
ASHOKLEY 38232000 12.44 132.30 8.95
DRREDDY 3448125 12.25 4482.55 1.21
TORNTPOWER 5100000 11.84 314.85 0.29
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LALPATHLAB 104500 -13.28 2437.65 5.93
SAIL 117344000 -13.08 61.00 -4.36
M&MFIN 14928000 -12.27 172.05 5.91
RBLBANK 19290800 -10.50 242.40 1.98
KOTAKBANK 13578800 -9.58 1861.35 3.29
HAVELLS 4148000 -9.29 1130.25 6.21
CUMMINSIND 1478400 -9.28 759.75 2.96
LUPIN 7661050 -7.82 1032.50 4.08
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.39 0.94
BANKNIFTY 1.49 0.99
RELIANCE 0.45 0.40
ICICIBANK 1.19 0.68
INFY 0.46 0.50
Historical Volatility
SCRIP HV
TATAMOTORS 71.70
SIEMENS 40.67
SHREECEM 42.98
TVSMOTOR 47.04
ULTRACEMCO 42.91
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Technical & Derivatives Report
February 03, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Spot =
14647.85
FII Statistics for February 02, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
8758.34
9732.86
(974.52) 110850
11456.96
(2.74)
INDEX
OPTIONS
629530.77
625969.19
3561.58
1035451
105988.54
8.82
STOCK
FUTURES
18984.10
19904.99
(920.89) 1181200
98901.31
0.35
STOCK
OPTIONS
14570.94
14720.33
(149.39) 113461
9511.32
10.42
Total 671844.15
670327.37
1516.78
2440962
225858.13
4.08
Turnover on February 02, 2020
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 6,06,659 57456.38 -19.76
Index Options 4,03,17,613
38,16,959.04 8.68
Stock Futures 11,75,673 1,03,838.73 3.34
Stock Options 21,36,324 1,90,454.38 12.26
Total 4,42,36,269
41,68,708.53 8.17
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14700 312.20
52.70 47.30 14752.70
Sell 14800 259.50
Buy 14700 312.20
97.20 102.80 14797.20
Sell 14900 215.00
Buy 14800 259.50
44.50 55.50 14844.50
Sell 14900 215.00
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14600 274.50
39.35 60.65 14560.65
Sell 14500 235.15
Buy 14600 274.50
73.80 126.20 14526.20
Sell 14400 200.70
Buy 14500 235.15
34.45 65.55 14465.55
Sell 14400 200.70
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
13900 14000 14100 14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200
Call Put
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Technical & Derivatives Report
February 03, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
534
542
549
557
563
ASIANPAINT 2,375 2,419
2,470
2,514
2,564
AXISBANK
680
697
721
738
762
BAJAJ-AUTO 4,043 4,122
4,197
4,276
4,351
BAJFINANCE 4,959 5,066
5,202
5,309
5,445
BAJAJFINSV 8,919 9,198
9,594
9,873
10,269
BPCL
386
397
404
415
422
BHARTIARTL
568
584
595
610
621
BRITANNIA 3,443 3,472
3,513
3,542
3,583
CIPLA
792
807
816
831
841
COALINDIA
128
130
131
133
134
DIVISLAB 3,399 3,474
3,521
3,596
3,642
DRREDDY 4,317 4,400
4,464
4,547
4,611
EICHERMOT 2,790 2,847
2,884
2,941
2,978
GAIL
127
128
130
132
134
GRASIM 1,105 1,148
1,179
1,221
1,252
HCLTECH
924
939
951
967
979
HDFCBANK 1,464 1,512
1,545
1,594
1,627
HDFCLIFE
652
666
689
704
727
HDFC 2,527 2,593
2,678
2,744
2,829
HEROMOTOCO 3,179 3,237
3,318
3,376
3,457
HINDALCO
239
247
252
261
266
HINDUNILVR 2,167 2,199
2,237
2,269
2,307
ICICIBANK
588
603
613
628
639
IOC
96
97
98
100
101
INDUSINDBK
925
950
975
1,000
1,024
INFY 1,246 1,258
1,276
1,289
1,307
ITC
213
216
220
222
226
JSW STEEL
371
380
386
395
401
KOTAKBANK 1,768 1,815
1,847
1,894
1,926
LT 1,410 1,465
1,529
1,584
1,648
M&M
784
801
819
835
854
MARUTI 7,359 7,507
7,638
7,786
7,918
NESTLEIND 16,903
17,047
17,198
17,342
17,494
NTPC
92
93
94
95
97
ONGC
90
91
93
94
95
POWERGRID
187
190
193
197
199
RELIANCE 1,822 1,874
1,907
1,959
1,992
SBILIFE
839
852
871
884
903
SHREECEM 23,312
24,872
25,761
27,322
28,210
SBIN
306
320
329
342
351
SUNPHARMA
581
595
606
620
631
TCS 3,118 3,161
3,192
3,235
3,266
TATAMOTORS
275
299
314
337
352
TATASTEEL
614
628
638
652
662
TECHM
920
939
956
974
991
TITAN 1,447 1,466
1,501
1,520
1,555
ULTRACEMCO 5,622 5,873
6,036
6,287
6,450
UPL
531
549
559
576
586
WIPRO
417
423
429
435
441
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Technical & Derivatives Report
February 03, 2021
*
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.chavan@angelbroking.com
Ruchit Jain Senior Analyst - Technical & Derivatives [email protected]gelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com