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April 05, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
-
(
33858)
On Thursday, the bank nifty started on a positive note however
from the word go it crept lower to test levels around 33200.
Subsequently in the second half buying was seen from lower
levels that not only crossed the morning high but to end well
above it with gains of 1.66% at 33858. Quite similar to the Nifty
chart, we can also see a cup and handle formation on the hourly
chart of Bank Nifty and the interesting point in the bank index is
that the breakout levels coincide with the 50EMA on the daily
chart placed at 34000 levels. During the fag end on Thursday, we
witnessed positive momentum in the banking space and if the
momentum sustains in the initial start of the week then we can
expect the said pattern breakout opening doors for further
extension of upmove. In such a scenario, 34000 followed by
34300 is the key level to watch on the upside whereas on the flip
side the positive structure remains intact as long prices hold
33150 levels. Traders are advised to keep a tab on the above
levels and trade accordingly.
Key Levels
Support 1 – 33150 Resistance 1 – 34000
Support 2 – 33000 Resistance 2 – 34300
Sensex (50030) / Nifty (14867)
After an extended weekend, our markets opened on Tuesday with a
good bump up on the back of favourable cues from the global
bourses. The initial lead extended as we witnessed a good broad
based participation to clock more than a couple of percent gains.
This was followed by a subdued session with few pockets kept
sulking to trim some of the gains. However once again on
Thursday, the buying resumed across the board to reclaim the
14800 mark and with this managed to secure the weekly gains of
nearly two and half a percent to kick off the new Financial Year on a
positive note.
Despite being a truncated week, it was not at all short of actions as
we saw good traction in some of the individual pockets, especially
on the last session. The index is currently undergoing a time-
correction and hence, it remained in a small trading band
throughout the week. As far as levels are concerned, 14900
followed by 15050 remains to be a sturdy wall; but the way its
placed now due to Thursday’s late surge, the possibility of testing
and even going beyond this cannot be ruled out. The hourly chart
exhibits a configuration of a bullish ‘Cup and Handle’ pattern and
any sustainable move beyond 14900 would strengthen this
structure to attract some buying interest in the heavyweight
constituents as well. On the flipside, 14800 14670 are to be seen
as immediate supports. The mentioned bullish structure will get
negated if Nifty slides below 14670 and hence, one should keep a
close tab on how the overall move pans out in the first half of this
week.
Exhibit 2: Nifty Bank Daily Chart
In the week gone by, the financial stocks did not participate much
in Tuesday’s up move but they proved their significance on the last
day as it single-handedly propelled the Nifty beyond 14800
towards the fag end on the weekly expiry session. This space plays
a vital role if our benchmark has to move beyond the 15000 mark.
Apart from this, the metal stocks had a mesmerizing rally
throughout the week as some of the steel counters soared as if
there is no tomorrow. Yes, the low hanging fruit is already gone for
momentum traders but it would certainly be interesting to see how
they perform going ahead. Importantly, the stocks from the cash
segment did exceedingly well after a lull period of nearly four
weeks. It’s advisable to focus on such potential movers.
Key Levels
Support 1 – 14800 Resistance 1 – 15000
Support 2 – 14670 Resistance2 – 15050
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Nifty Vs OI
13800
14000
14200
14400
14600
14800
15000
15200
15400
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
3/10 3/16 3/18 3/22 3/24 3/26
(`000)
Openinterest Nifty
View
We kick started the week with an upside gap as
suggested by the global markets. The benchmark
index rallied sharply on Tuesday to reclaim 14850
mark. This was followed by some consolidation and
once again buying resumed on Thursday to almost
touch 14900. Finally, we concluded the truncated
week two and a half percent higher to previous
weeks close
.
FIIs were net buyer in the cash segment to the tune
of Rs. 149 crores. In index futures front, they bought
worth Rs. 445 crores with decent amount of fall in
open interest; suggesting short covering on Friday’s
session.
Last week, we saw addition of fresh long positions in
Nifty futures; whereas, short covering was observed in
case of banking index. Intrestingly, the overall futures
premiums surged on Friday which clearly hints buying
interest. In Nifty options front, fresh positions was seen
in 15000 and 15100 call strikes. On the other side, good
amount of writing was seen in 14700 and 14800 put
options, suggesting base shifting higher to 14700-
14800 now. The highest open interst concentration on
the call side is firmly placed at 15000; any unwinding in
this particular strike shall be a very positive indication
for Bulls. Considering the above data points, we expect
further strength in this week and trader are advised
trading with positive bias.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 6.62.
Bank Nifty futures open interest has decreased by
26.72% as market closed at 14867.35 levels.
The Nifty April future closed with a premium of point
86.00 against a premium of 61.60 point in last trading
session. The May series closed at a premium of 134.40
point.
The INDIA VIX decreased from 20.64 to 19.98.
At the same time, the PCR-OI of Nifty increased from
1.10 to 1.16.
Few of the liquid counters where we have seen high cost
of carry are IDEA, NATIONALUM, COFORGE, BHEL and
PEL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
SRF 387500 15.50 5741.40 6.49
ESCORTS 2186800 14.55 1274.05 -0.79
HINDALCO 34064600 12.77 350.25 7.28
IDEA 664090000 12.11 10.00 7.98
TCS 9038100 12.11 3165.05 -0.10
NATIONALUM 74358000 11.87 58.75 9.11
CUMMINSIND 2143200 10.18 895.35 -1.46
TATACHEM 10140000 9.55 779.10 3.77
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BAJAJ-AUTO 2093500 -7.34 3743.20 2.03
VEDL 64976000 -6.32 231.25 1.13
SAIL 144723000 -6.06 83.85 5.96
BALKRISIND 1695200 -4.72 1681.75 -0.64
POWERGRID 18332000 -4.26 218.70 1.34
BAJFINANCE 3597750 -4.25 5272.10 2.38
GODREJCP 5360000 -3.60 726.30 -0.65
BANDHANBNK 16273800 -3.53 350.90 3.66
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.16 0.94
BANKNIFTY 0.91 0.94
RELIANCE 0.59 0.60
ICICIBANK 0.55 0.37
INFY 0.52 0.33
Historical Volatility
SCRIP HV
NATIONALUM 53.95
JSWSTEEL 52.34
SRF 46.45
HINDALCO 59.60
ADANIENT 63.55
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Technical & Derivatives Report
April 05, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot =
14867.30
FII Statistics for April 01, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
5732.56 5287.49 445.07
117199 12336.28 (4.06)
INDEX
OPTIONS
671537.76 666975.05 4562.71
630500 67057.00 (36.35)
STOCK
FUTURES
11689.76 11968.05 (278.29) 1072544 93219.75 0.06
STOCK
OPTIONS
8180.01 8229.74 (49.73) 116548 10275.42 12.81
Total 697140.09
692460.33
4679.76
1936791
182888.45
(15.35)
Turnover on April 01, 2021
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,98,709 37987.24 14.37
Index Options
7,66,45,897 71,40,199.53 112.28
Stock Futures
6,12,224 59750.55 11.70
Stock Options
10,23,153 1,03,100.89 17.87
Total 7,86,79,983 73,41,038.21 107.51
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14900 331.55
55.05 44.95 14955.05
Sell 15000 276.50
Buy 14900 331.55
105.00 95.00 15005.00
Sell 15100 226.55
Buy 15000 276.50
49.95 50.05 15049.95
Sell 15100 226.55
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14900 275.80
40.15 59.85 14859.85
Sell 14800 235.65
Buy 14900 275.80
76.00 124.00 14824.00
Sell 14700 199.80
Buy 14800 235.65
35.85 64.15 14764.15
Sell 14700 199.80
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500
Call Put
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Technical & Derivatives Report
April 05, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
691
714
728
751
765
ASIANPAINT 2,517 2,534
2,549
2,567
2,582
AXISBANK
687
700
709
721
730
BAJAJ-AUTO 3,658 3,701
3,733
3,775
3,807
BAJFINANCE 5,114 5,193
5,241
5,320
5,367
BAJAJFINSV 9,603 9,696
9,761
9,855
9,920
BPCL
423
430
435
442
447
BHARTIARTL
510
516
520
525
529
BRITANNIA 3,573 3,596
3,633
3,656
3,693
CIPLA
806
812
818
824
830
COALINDIA
130
131
132
133
134
DIVISLAB 3,583 3,600
3,619
3,636
3,655
DRREDDY 4,495 4,541
4,568
4,614
4,641
EICHERMOT 2,563 2,597
2,623
2,657
2,683
GRASIM 1,423 1,439
1,453
1,469
1,483
HCLTECH
979
991
1,002
1,014
1,025
HDFCBANK 1,449 1,468
1,484
1,502
1,518
HDFCLIFE
671
681
693
703
715
HDFC 2,459 2,495
2,516
2,552
2,573
HEROMOTOCO 2,893 2,924
2,965
2,996
3,037
HINDALCO
320
335
344
359
367
HINDUNILVR 2,358 2,379
2,413
2,433
2,467
ICICIBANK
574
584
590
600
606
IOC
90
92
93
94
95
INDUSINDBK
945
969
983
1,007
1,021
INFY 1,362 1,374
1,383
1,394
1,403
ITC
216
218
219
221
223
JSW STEEL
454
482
497
524
540
KOTAKBANK 1,727 1,766
1,789
1,828
1,852
LT 1,410 1,427
1,438
1,455
1,465
M&M
769
788
799
818
829
MARUTI 6,787 6,855
6,923
6,992
7,060
NESTLEIND 16,859
16,971
17,080
17,192
17,301
NTPC
106
107
108
109
110
ONGC
99
102
104
106
108
POWERGRID
213
216
218
220
222
RELIANCE 1,991 2,007
2,018
2,034
2,045
SBILIFE
870
877
883
890
897
SHREECEM 29,058
29,505
29,892
30,339
30,726
SBIN
360
365
369
374
377
SUNPHARMA
592
601
607
617
622
TCS 3,105 3,135
3,175
3,205
3,245
TATACONSUM
636
643
648
655
660
TATAMOTORS
300
304
307
311
314
TATASTEEL
800
832
850
882
900
TECHM
974
983
995
1,005
1,017
TITAN 1,526 1,543
1,568
1,585
1,610
ULTRACEMCO 6,652 6,775
6,855
6,978
7,057
UPL
627
640
649
662
670
WIPRO
409
413
418
421
426
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Technical & Derivatives Report
April 05, 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.cha[email protected]roking.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