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Technical & Derivatives Report
July 03, 2020
Nifty
Bank Out
-
(
21953
)
Bank Nifty index traded in a narrow range in yesterday's session
and ended the day with a marginal loss. The broader markets
rallied yesterday and hence, the banking index underperformed
the Nifty index. However, from a near term perspective, we
continue to be positive as the index has resumed the momentum
post a consolidation. Traders are advised to use intraday declines
to buy and trade with a positive bias. The intraday supports for the
index are placed around 21780 and 21600 whereas resistances
are seen around 22235 and 22520.
Key Levels
Support 1 – 21780 Resistance 1 – 22235
Support 2 – 21600 Resistance 2 – 22520
Exhibit 1: Nifty Daily Chart
Sensex (35844) / Nifty (10552)
Yesterday. our markets kickstarted the day on a positive note
owing to favourable cues from the global bourses. The
momentum accelerated as the day progressed as we kept
surpassing minor intraday hurdles one after another. Yes in
between markets had some corrective moves, but overall the
index managed to maintain its positive posture. Eventually, the
Nifty ended the session at 4-months high by adding more than a
percent to the bulls' kitty.
In the last few weeks, despite intermediate hiccups, we maintained
our optimistic stance and advocated using all possible declines.
Now, we can see the base shifting higher from 10000-10100 to
10300 now. Before this, 10450 - 10360 are likely to be considered
as strong supports. On the upside, the momentum can get
extended towards 10650 - 10700 levels. However, the short term
traders are now advised to keep booking profits as we can see
clusters of resistances at every 100-150 points up move.
Meanwhile it would be a prudent strategy to stick to a stock
centric approach and follow strict stop losses. Yesterday, it was
surprising to see BankNifty underperforming in the second half as
we witnessed a good bout of profit booking in few index
heavyweights. However, we still believe that the overall structure
still remains bullish.
Key Levels
Support 1 – 10450 Resistance 1 – 10650
Support 2 – 10400 Resistance 2 – 10700
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
July 03, 2020
Nifty Vs OI
10100
10150
10200
10250
10300
10350
10400
10450
10500
10550
10600
10,000
10,500
11,000
11,500
12,000
12,500
13,000
13,500
14,000
6/22 6/23 6/24 6/25 6/26 6/29 6/30 7/1 7/2
(`000)
Openinterest Nifty
View
s
Yesterday, Nifty started on a positive note and with
follow up move ended with gains of 1.17% at
10551.70.
FIIs were net sellers in the cash market segment to the
tune of Rs. 557 crores. In index futures, they bought
worth 706 crores with increase in open interest
indicating long formations and short covering in
yesterday’s session
.
On the weekly expiry day, the Nifty rallied higher and
ended well above 10550. FII's were sellers in the cash
segment but they bought index futures in the upmove.
The open interest data indicates support around
10400 mark for the near term. Good amount of long
formations have been noted in stock specific moves in
last couple of trading sessions. Hence, traders are
advised to focus on stock specific opportunities and
trade with a positive bias
.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 0.48%
Bank Nifty futures open interest has increased by 0.41%
as market closed at 10551.70 levels.
The Nifty July future closed with a discount of 12 point
against a discount of 21.75 point in last trading session.
The August series closed at a discount of 19.35 point.
The INDIA VIX has decreased from 28.12 to 26.50
At the same time, the PCR-OI of Nifty increased from 1.43
to 1.62.
Few of the liquid counters where we have seen high cost
of carry are GLENMARK, SAIL, ADANIENT, CADILAHC
AND MOTHERSUMI.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MOTHERSUMI 38192000 46.27 103.65 6.82
DIVISLAB 4152000 20.25 2196.65 -1.82
TATAPOWER 59575500 16.65 49.80 5.56
SAIL 62700000 16.44 31.20 2.95
UBL 1015700 16.27 1055.70 2.18
M&MFIN 13857900 12.88 184.90 6.88
MARICO 13274000 11.62 357.65 2.00
NCC 20181000 11.36 30.70 3.01
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
JUSTDIAL 1485400 -14.71 386.15 2.99
APOLLOHOSP 1274500 -12.53 1362.55 3.04
TORNTPOWER 1596000 -9.83 324.25 0.82
GLENMARK 6313500 -9.23 435.25 0.54
HEROMOTOCO 2724600 -8.85 2671.45 4.88
BEL 23066000 -7.97 89.05 0.22
BAJAJFINSV 801875 -7.36 6188.80 0.18
UJJIVAN 3150400 -6.95 238.95 2.17
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.62 0.99
BANKNIFTY 0.84 0.69
RELIANCE 0.63 0.54
ICICIBANK 0.57 0.60
INFY 0.80 0.51
Historical Volatility
SCRIP HV
TATAPOWER 54.55
M&M 53.58
BOSCHLTD 49.31
CADILAHC 45.15
HEROMOTOCO 54.89
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Technical & Derivatives Report
July 03, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot =
10551.70
FII Statistics for July 02, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5531.19
4825.28
705.91
93434
6629.53
0.54
INDEX
OPTIONS
464143.07
461411.36
2731.71
558184
40545.69
(14.90)
STOCK
FUTURES
12764.98
12097.71
667.27
1322510
87043.61
1.09
STOCK
OPTIONS
3575.05
3416.34
158.71
81154
5237.20
6.72
Total 486014.29
481750.69
4263.60
2055282
139456.03
(3.65)
Turnover on July 02, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,43,528 34865.16 -3.19
Index Options
6,12,05,102
33,27,346.56
117.58
Stock Futures 7,38,324 47830.26 0.29
Stock Options
7,02,659 48354.31 4.52
Total 6,31,89,613
34,58,396.29
108.43
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 10600 249.45
50.45 49.55 10650.45
Sell 10700 199.00
Buy 10600 249.45
94.25 105.75 10694.25
Sell 10800 155.20
Buy 10700 199.00
43.80 56.20 10743.80
Sell 10800 155.20
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 10500 264.60
38.70 61.30 10461.30
Sell 10400 225.90
Buy 10500 264.60
72.75 127.25 10427.25
Sell 10300 191.85
Buy 10400 225.90
34.05 65.95 10365.95
Sell 10300 191.85
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000 11100 11200 11300
Call Put
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
342
345
347
349
352
ASIANPAINT 1,640 1,663
1,684
1,707
1,727
AXISBANK
408
416
429
436
449
BAJAJ-AUTO 2,807 2,843
2,873
2,910
2,940
BAJFINANCE 2,877 2,921
2,968
3,012
3,059
BAJAJFINSV 6,035 6,112
6,189
6,266
6,344
BPCL
372
378
385
390
397
BHARTIARTL
552
555
561
564
570
INFRATEL
216
219
221
224
226
BRITANNIA 3,483 3,509
3,538
3,564
3,594
CIPLA
614
630
642
658
671
COALINDIA
132
133
134
135
136
DRREDDY 3,856 3,888
3,934
3,966
4,012
EICHERMOT 17,712
18,033
18,291
18,612
18,870
GAIL
101
102
104
105
107
GRASIM
605
611
621
628
638
HCLTECH
545
557
565
577
584
HDFCBANK 1,069 1,079
1,095
1,105
1,121
HDFC 1,821 1,855
1,877
1,911
1,933
HEROMOTOCO
2,500
2,586
2,635
2,721
2,770
HINDALCO
145
146
148
150
152
HINDUNILVR 2,125 2,139
2,158
2,171
2,191
ICICIBANK
355
359
365
369
375
IOC
85
87
88
90
91
INDUSINDBK
484
489
499
504
514
INFY
722
740
752
770
783
ITC
201
203
205
208
209
JSW STEEL
188
191
193
196
198
KOTAKBANK 1,326 1,339
1,355
1,369
1,385
LT
915
928
939
953
964
M&M
494
512
522
540
550
MARUTI 5,693 5,821
5,890
6,018
6,088
NESTLEIND 16,488
16,639
16,812
16,963
17,136
NTPC
92
93
94
94
95
ONGC
79
81
82
84
85
POWERGRID
171
173
175
177
179
RELIANCE 1,722 1,741
1,754
1,774
1,787
SHREECEM 22,302
22,533
22,741
22,972
23,180
SBIN
182
184
186
188
190
SUNPHARMA
465
469
472
476
479
TCS 2,073 2,115
2,140
2,182
2,207
TATAMOTORS
99
100
102
103
104
TATASTEEL
319
327
332
340
345
TECHM
535
548
555
568
575
TITAN
937
962
978
1,003
1,019
ULTRACEMCO 3,850 3,882
3,915
3,947
3,980
UPL
432
437
446
451
459
VEDANTA
104
105
107
108
110
WIPRO
217
221
223
227
229
ZEEL
169
172
176
178
182
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Technical & Derivatives Report
July 03, 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]g.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