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Technical & Derivatives Report
April 03, 2020
Nifty Bank Outlook - (18208)
BankNifty index corrected sharply in Wednesday's session
and ended the day with a loss of about 5 percent. Recently,
the banking space has witnessed underperformance wherein
the stocks within the banking and Financial spaces have seen
a sharp sell-off. The index also breached its support of 18660
in the previous trading session which resulted in a
continuation of the underperformance. The near term trend
for this index continues to be weak and hence until there are
signs of some stability, we advise traders to stay light on
positions. The immediate supports for BankNifty are placed
around 17500 and 17000 whereas resistance is seen around
18700-19000.
Key Levels
Support 1 – 17500 Resistance 1 – 18700
Support 2 – 17000 Resistance 2 – 19000
Exhibit 1:
Nifty
Daily
Chart
Sensex (
28265)
/ Nifty
(
8254
)
Nifty started on a flat note in Wednesday's trading session.
However, it witnessed selling pressure from the opening ticks
itself and it crept lower throughout the day to end with a loss
of 4 percent.
In the last few sessions, Nifty has witnessed a consolidation
within a broad range. However, the banking space which also
constitutes some of the index heavyweights has witnessed a
sharp sell-off which has led to pressure in the
benchmark index too. For today's session, 8000 will be seen
as crucial support on closing, below which the next support
will be seen around the recent low of 7500. Hence, if we see
some negative opening today, the follow-up move post-
opening will be important to determine the near term move.
On the higher side, 8600-8700 has become a crucial
resistance for the index for the near term.
Looking at the current market swings, we continue with our
advice for traders to avoid aggressive bets and trade with a
proper exit strategy
.
Key Levels
Support 1 – 8000 Resistance 1 – 8600
Support 2 – 7870 Resistance 2 – 8700
Exhibit 2:
Nifty Bank
Daily
Chart
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Technical & Derivatives Report
April 03, 2020
Nifty
Vs
OI
6800
7000
7200
7400
7600
7800
8000
8200
8400
8600
8800
9000
,0
5,000
10,000
15,000
20,000
25,000
3/20 3/23 3/24 3/25 3/26 3/27 3/30 3/31 4/1
(`000)
Openinterest Nifty
V
iew
s
On Wednesday, Nifty started on a flat note and from
the word go witnessed selloff. The index without any
meaningful intraday bounce continued to slip lower
throughout the session and ended with a loss of 4
percent at 8253.80
.
FIIs were net sellers in the cash market segment to the
tune of Rs. 1117 crores. In index futures they sold
worth 1197 crores with increase in open interest
indicating short positions created on Wednesday.
Nifty as well as the BankNifty index witnessed sell off
in Wednesday's session wherein the open interest
decreased in both the indices. FII's were light on
positions in index futures segment post expiry. but
they have then formed fresh shorts and they continue
to sell equities in the cash segment as well. Hence, as
per the data, the index could remain under pressure in
the near term and hence, traders should prefer to stay
light on positions, The immediate supports as per data
are placed around 8000 and 7500.
Co
mmen
t
s
The Nifty futures open interest has decreased by 6.06%
Bank Nifty futures open interest has decreased by 8.55
% as market closed at 8253.80 levels.
The Nifty April future closed with a premium of 3.5
points against a premium of 23.2 points in last trading
session. The May series closed at a premium of 24.65
points.
The INDIA VIX has decreased from 64.40 to 60.05.
At the same time, the PCR-OI of Nifty has decreased
from 1.19 to 1.02.
Few of the liquid counters where we have seen high cost
of carry are JINDALSTEL, OIL, EQUITAS, MFSL and
GMRFINFRA.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
JINDALSTEL 12795000 79.96 70.25 -14.54
BOSCHLTD 108400 23.13 9235.75 -1.67
CUMMINSIND 789300 19.48 308.50 -5.63
BALKRISIND 617600 15.57 803.05 0.46
RBLBANK 11907000 13.30 131.30 -2.30
KOTAKBANK 8782400 11.87 1181.65 -9.29
HINDPETRO 8542800 11.33 184.00 -3.46
YESBANK 58828000 9.34 23.95 1.20
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MRF 12110 -23.21 55112.30 -4.59
SRTRANSFIN 1900200 -17.40 621.65 -6.62
ESCORTS 1830400 -16.68 598.80 -10.09
BRITANNIA 1020000 -16.57 2564.70 -4.85
MFSL 1144000 -12.61 382.40 -0.43
JUSTDIAL 1293600 -7.14 309.80 5.11
GAIL 23549610 -6.80 75.75 -1.30
GLENMARK 2475200 -6.36 203.85 -0.63
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.02 0.85
BANKNIFTY 0.73 0.81
RELIANCE 0.83 0.64
ICICIBANK 0.65 0.83
INFY 0.71 1.09
Hi
storical
Volatility
SCRIP HV
JINDALSTEL 143.66
TECHM 112.11
PVR 123.98
TCS 76.26
KOTAKBANK 112.52
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Technical & Derivatives Report
April 03, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot
=
8253.80
FII
Statistics for April 01
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3957.90
5155.37
(1197.47) 138624
7949.55
12.02
INDEX
OPTIONS
174350.19
173069.46
1280.73
436989
26504.51
(7.72)
STOCK
FUTURES
9816.75
9839.50
(22.75) 1363258
60949.26
1.47
STOCK
OPTIONS
568.97
570.57
(1.60) 15038
674.32
8.94
Total 188693.81
188634.90
58.91
1953909
96077.64
(0.04)
Turnover on April 01
,
20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,25,335 26289.25 -12.20
Index Options 2,52,32,111
11,73,210.26 96.23
Stock Futures 6,57,946 28492.66 -12.50
Stock Options 2,59,691 12505.39 -3.87
Total 2,66,75,083
12,40,497.56 84.22
Bull
-
Call Spreads
Action Strike Price Risk Reward BEP
Buy 8300 528.15
57.65 42.35 8357.65
Sell 8400 470.50
Buy 8300 528.15
111.20 88.80 8411.20
Sell 8500 416.95
Buy 8400 470.50
53.55 46.45 8453.55
Sell 8500 416.95
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 8200 529.15
40.40 59.60 8159.60
Sell 8100 488.75
Buy 8200 529.15
78.75 121.25 8121.25
Sell 8000 450.40
Buy 8100 488.75
38.35 61.65 8061.65
Sell 8000 450.40
Nifty Put
-
Call
Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
7500 7600 7700 7800 7900 8000 8100 8200 8300 8400 8500 8600 8700 8800
Call Put
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April 03, 2020
Da
ily
Pivot
Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
230
237
243
250
255
ASIANPAINT
1,543
1,573 1,614
1,644
1,685
AXISBANK
338
349
364
374
390
BAJAJ-AUTO
1,940
1,995 2,046
2,101
2,151
BAJFINANCE
2,059
2,139 2,213
2,293
2,367
BAJAJFINSV
4,336
4,419 4,543
4,626
4,751
BPCL
282
292
304
315
327
BHARTIARTL
397
409
425
437
452
INFRATEL
145
150
155
160
165
BRITANNIA
2,342
2,453 2,617
2,728
2,892
CIPLA
398
406
418
426
439
COALINDIA
135
137
139
141
143
DRREDDY
3,024
3,059 3,102
3,137
3,180
EICHERMOT
12,421
12,711 13,015
13,305
13,609
GAIL
72
74
76
78
81
GRASIM
439
458
471
489
503
HCLTECH
393
403
418
428
443
HDFCBANK
794
812
838
856
882
HDFC
1,500
1,542 1,618
1,659
1,735
HEROMOTOCO
1,535
1,587
1,617
1,670
1,700
HINDALCO
88
90
93
94
97
HINDUNILVR
2,054
2,117 2,221
2,284
2,388
ICICIBANK
299
305
314
321
330
IOC
76
77
80
81
84
INDUSINDBK
281
312
351
382
421
INFY
568
585
611
629
655
ITC
160
163
168
171
176
JSW STEEL
136
139
143
146
150
KOTAKBANK
1,075
1,128 1,212
1,265
1,348
LT
739
756
784
802
830
M&M
256
265
274
282
291
MARUTI
4,052
4,149 4,287
4,384
4,522
NESTLEIND
14,914
15,284 15,870
16,240
16,826
NTPC
78
80
82
83
86
ONGC
64
65
66
67
68
POWERGRID
148
151
157
160
165
RELIANCE
1,004
1,042 1,083
1,122
1,163
SHREECEM
15,819
16,184 16,865
17,231
17,912
SBIN
180
183
189
192
198
SUNPHARMA
329
336
346
353
363
TCS
1,616
1,662 1,749
1,795
1,881
TATAMOTORS
65
66
69
71
73
TATASTEEL
254
260
264
270
274
TECHM
477
494
527
544
577
TITAN
881
909
929
957
977
ULTRACEMCO
3,014
3,077 3,169
3,232
3,323
UPL
287
296
312
322
338
VEDANTA
60
62
63
65
67
WIPRO
182
186
191
194
199
ZEEL
116
118
123
125
129
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Technical & Derivatives Report
April 03, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
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