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February 05, 2021
Technical & Derivatives Report
Nifty
Bank Out
-
(
35345)
Markets had a tentative start yesterday owing to sluggish global
cues. In the initial hour, banking stocks saw some profit booking;
but the mighty bulls managed to regain strength and grab this
early decline with both hands. In the remaining part of the session,
BANKNIFTY maintained its positive posture by having higher highs
and higher lows. Eventually, the bulls added another one and half
a percent to their tally to conclude the weekly expiry at fresh highs
above 35000.
This has been a mesmerising rally in banking stocks since the
budget session. Before anyone could realised, some of the
banking heavyweights have come to their unimaginable levels in
such a short span. This is how market operates and each day here
is new learning curve for us. Although the trend has been strong
and there is no weakness yet, we do not want to get gung ho and
hence, traders are advised to take some money off the table now.
Since banking index is in an uncharted territory, there are no
specific levels to watch; but psychologically 35500 - 36000 can be
considered as immediate points. On the flipside, 35000 - 34600 -
34200 to be seen as intraday supports.
Key Levels
Support 1 – 35000 Resistance 1 – 35500
Support 2 – 34600 Resistance 2 – 36000
Exhibit 1: Nifty Daily Chart
Se
nsex
(
50614)
/ Nifty
(
14896
)
Nifty started the session on a flat note yesterday and consolidated
within a narrow range for the first hour of trade. However, the index
witnessed buying interest in this initial dip and then Nifty gradually
moved higher for the rest of the day to end with gains of over 100
points.
The early hiccup in the first hour of trade witnessed a good buying
interest and the markets then continued its momentum to end the
weekly expiry around 14900. The banking index continued its
outperformance and the broader markets too saw good momentum.
As of now, the momentum continues to be bullish as even minor
intraday dips are getting bought into. Hence, traders are advised to
continue to trade with a positive bias and look for stock specific
opportunities. As far as levels are concerned, Nifty has ended near
the rising trendline at 14900 and a continuation of this upmove
should lead the index towards 15070. On the flipside, the immediate
supports for Nifty are placed around 14770 and 14640.
Key Levels
Support 1 – 14770 Resistance 1 – 15000
Support 2 – 14640 Resistance2 – 15070
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
February 05, 2021
Nifty Vs OI
13000
13200
13400
13600
13800
14000
14200
14400
14600
14800
15000
,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 2/3
(`000)
Openinterest Nifty
View
Post some correction in the initial few minutes, Nifty
resumed its momentum and rallied on the weekly expiry
session to end the day tad below 14900.
FIIs were net buyers in the cash segment to the tune of
Rs. 1937 crore. In index future segment, they sold worth Rs.
1555 crore with increase in open interest indicating short
formations in yesterday’s session.
Nifty witnessed open interest addition of over 8 percent
yesterday, but we did not see any fresh build up in the
banking index. FII's continued their buying streak in the
cash segment, however, they sold some index futures
indicating short build up. As per the options data, we are
approaching the resistance of 14900-15000 range and
looking at the data, it is advisable to book some profits on
longs and take some money off the table. The stock specific
movement continues to provide good opportunities and
thus traders should capitalize on the same.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 8.13%
Bank Nifty futures open interest has decreased by 2.03%
as market closed at 14895.65 levels.
The Nifty February future closed with a discount of 0.3
point against a premium of 30.6 point in last trading
session. The March series closed at a premium of 40.4
point.
The INDIA VIX decreased from 23.74 to 23.12.
At the same time, the PCR-OI of Nifty increased from 1.46
to 1.51.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GMRINFRA, SAIL, RAMCOCEM, AND
GAIL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GODREJPROP 2574000 31.78 1340.35 -3.65
BHEL 148386000 22.61 42.20 6.26
ICICIPRULI 8044500 20.49 476.60 -0.42
MANAPPURAM 16698000 20.01 181.45 5.05
L&TFH 33697024 19.95 93.35 0.86
SBIN 98541000 18.04 355.10 5.81
ASIANPAINT 6478200 17.22 2401.80 -1.97
PNB 266720000 14.03 40.50 5.17
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TVSMOTOR 4727800 -15.93 652.95 1.55
COALINDIA 31689000 -8.67 143.60 4.75
CONCOR 7060071 -7.84 479.00 2.85
CHOLAFIN 5022500 -7.42 464.40 0.81
ESCORTS 3314850 -7.15 1401.75 1.04
UBL 1268400 -6.16 1289.35 -0.37
BIOCON 17171800 -6.14 409.90 2.06
BOSCHLTD 78550 -5.48 16358.10 -1.18
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.51 0.93
BANKNIFTY 1.60 0.95
RELIANCE 0.43 0.37
ICICIBANK 1.19 0.67
INFY 0.47 0.54
Historical Volatility
SCRIP HV
ITC 39.18
JUBLFOOD 49.22
BALKRISIND 50.27
APOLLOTYRE 57.74
SUNTV 51.19
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Technical & Derivatives Report
February 05, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Spot =
14895.65
FII Statistics for February 04, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4558.04
6113.15
(1555.11) 123866
13109.51
7.95
INDEX
OPTIONS
934819.58
928113.14
6706.44
683739
72495.10
(31.72)
STOCK
FUTURES
15780.05
15261.63
518.42
1190566
101716.11
0.57
STOCK
OPTIONS
12545.43
12581.14
(35.71) 133909
11565.39
7.04
Total 967703.10
962069.06
5634.04
2132080
198886.11
(12.08)
Turnover on February 04, 2020
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,15,257 40019.60 3.87
Index Options 8,71,05,607
81,53,916.89 108.43
Stock Futures 9,95,459 90479.92 0.22
Stock Options 18,33,018 1,71,202.13 0.11
Total 9,03,49,341
84,55,618.54 100.76
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14900 284.95
50.75 49.25 14950.75
Sell 15000 234.20
Buy 14900 284.95
97.00 103.00 14997.00
Sell 15100 187.95
Buy 15000 234.20
46.25 53.75 15046.25
Sell 15100 187.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14900 287.50
42.25 57.75 14857.75
Sell 14800 245.25
Buy 14900 287.50
78.65 121.35 14821.35
Sell 14700 208.85
Buy 14800 245.25
36.40 63.60 14763.60
Sell 14700 208.85
Nifty Put-Call Analysis
,0
200,000
400,000
600,000
800,000
1000,000
1200,000
1400,000
1600,000
1800,000
14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500
Call Put
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February 05, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
546
557
565
577
585
ASIANPAINT 2,361 2,381
2,419
2,439
2,477
AXISBANK
712
728
737
753
762
BAJAJ-AUTO 4,100 4,162
4,262
4,323
4,423
BAJFINANCE 5,081 5,293
5,418
5,630
5,755
BAJAJFINSV 9,354 9,527
9,644
9,817
9,933
BPCL
405
412
417
424
429
BHARTIARTL
579
590
606
617
634
BRITANNIA 3,469 3,525
3,566
3,622
3,663
CIPLA
817
826
841
850
865
COALINDIA
134
139
142
146
149
DIVISLAB 3,611 3,645
3,685
3,719
3,759
DRREDDY 4,581 4,625
4,665
4,709
4,749
EICHERMOT 2,844 2,904
2,941
3,001
3,038
GAIL
127
129
132
134
137
GRASIM 1,146 1,167
1,192
1,214
1,239
HCLTECH
939
948
959
969
980
HDFCBANK 1,526 1,552
1,570
1,597
1,615
HDFCLIFE
671
675
683
688
696
HDFC 2,620 2,664
2,703
2,747
2,786
HEROMOTOCO 3,342 3,392
3,453
3,502
3,564
HINDALCO
254
258
263
267
271
HINDUNILVR 2,211 2,228
2,244
2,261
2,276
ICICIBANK
600
614
623
637
646
IOC
102
103
103
104
105
INDUSINDBK 1,004 1,018
1,030
1,044
1,056
INFY 1,260 1,270
1,282
1,291
1,303
ITC
210
220
226
236
241
JSW STEEL
386
393
398
405
409
KOTAKBANK 1,801 1,856
1,885
1,940
1,969
LT 1,490 1,510
1,530
1,550
1,570
M&M
806
836
865
895
924
MARUTI 7,409 7,524
7,645
7,760
7,881
NESTLEIND 16,943
17,009
17,118
17,183
17,292
NTPC
96
97
99
101
102
ONGC
92
95
97
100
101
POWERGRID
202
204
206
207
209
RELIANCE 1,888 1,906
1,923
1,941
1,958
SBILIFE
853
858
865
870
876
SHREECEM 24,954
26,023
26,676
27,744
28,398
SBIN
321
338
348
365
375
SUNPHARMA
618
625
633
640
648
TCS 3,139 3,164
3,201
3,226
3,263
TATAMOTORS
316
321
328
333
340
TATASTEEL
628
642
653
667
678
TECHM
950
960
974
983
998
TITAN 1,462 1,488
1,514
1,540
1,566
ULTRACEMCO 5,976 6,080
6,145
6,248
6,313
UPL
529
539
554
563
578
WIPRO
423
426
432
435
440
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Technical & Derivatives Report
February 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