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May 05, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
look
-
(
32270)
Post Monday’s tail end recovery, we began yesterday’s session on
a slightly positive note as suggested by the global key indicators.
In initial couple of hours, the BankNifty extended the upmove
towards 33000 mark but unfortunately couldn’t sustain as we saw
decent selling pressure at higher levels. In the midst, index wiped-
off all the intraday gains and then selling got aggravated in the
final hour of trade to drag index below 32200. Eventually, we
concluded the day almost at the lowest point with a cut 0.60%.
If we consider recent technical chart, we have been stuck in a broad
range of 30400-34400 for last seven consecutive weeks now.
Monday’s recovery from the important support around 32000
mark was a sign of hope for Bull’s but yesterday’s latter half
correction has dented the expectation. We have concluded
yesterday’s session at an interesting point and follow-up move
shall be very important to watch out. However, as long we manage
to sustain above 32000 mark traders’ are advised avoiding any
bearish bets. As far as levels are concerned, 31800-32200 is an
immediate demand zone and on the higher side, resistance is
placed around 33000 mark.
Key Levels
Support 1 – 32200 Resistance 1 – 33000
Support 2 – 31800 Resistance 2 – 33400
Exhibit 2: Nifty Bank Daily Chart
Sensex (48254) / Nifty (14496)
Our markets started the session marginally in the green as indicated
by the SGX Nifty early in the morning. During the first half, we
witnessed some choppiness in key indices with ample of stock specific
activity. However, market started feeling some nervousness at the
stroke of the penultimate hour, which led to a sharp decline to enter
a sub-14500 territory. Eventually, due to this tail end correction, Nifty
ended the session with nearly a percent cut.
All key indices are clearly directionless and this is what we have
mentioning since last 3 4 days. For how long this will continue,
nobody knows but till then it’s better not to trade aggressively in
index and definitely avoid carrying overnight bets. For the coming
session, 14450 14400 are to be seen as immediate supports and
the way overall market is positioned, we expect buying to emerge at
lower levels. Hence, one should avoid shorting around the support
area; in fact, one can look to take some contradictory bets as we may
see a rebound to test 1460014700.
We are observing some decent stock specific activity which saw
some profit booking in the last hour. Also, if we look at the ‘NIFTY
MIDCAP50’ index, it’s still hovering around the key juncture. Only a
breakout from the multiple resistance zone would result in a sharp
up move in the broader market. It’s better to keep a close track of it
and till then stick to stock centric approach with following a proper
exit strategy.
Key Levels
Support 1 – 14450
Resistance 114600
Support 2 – 14400 Resistance2 – 14700
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Technical & Derivatives Report
May 05, 2021
Nifty Vs OI
13800
14000
14200
14400
14600
14800
15000
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
4/6 4/8 4/13 4/16 4/20 4/23 4/27 4/29 5/3
(`000)
Openinterest Nifty
View
Nifty started the session on a positive note around the
14700 mark. The index consolidated with a positive
bias till noon, but it then gave up the gains and
corrected sharply in the last hour to end tad below
14500 with a loss of about a percent
.
FIIs were net sellers in the cash segment to the tune of
Rs. 1772 crores. In index futures front, they sold worth
Rs. 288 crores with fall in open interest indicating long
unwinding in yesterday’s session.
We saw some open interest addition in Nifty as well as
Bank Nifty. FII's continued to sell in the cash segment
and have sold equities worth more than 7500 crores
in last three trading sessions. In the index futures
segment too, they have lightened up some longs and
their 'Long Short Ratio' has reduced to 52 percent.
Although the stronger hands started the May series
with good amount of long positions in index futures,
they have trimmed some longs along with selling in
the cash segment. This does not bode well and hence,
we are witnessing selling pressure at pullback moves.
However, we have seen volatile moves in a broad
range in last one month and the current market moves
indicate a continuation of that trend. The options data
hints at immediate resistance around 14700-14800
while the data on the put side is scattered in every 100
point range. In such a scenario, traders are advised to
avoid aggressive bets and trade with hedged
positions
.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 4.50%.
Bank Nifty futures open interest has increased by 1.57%
as market closed at 14496.50 levels.
The Nifty May future closed with a premium of 52.8 point
against a premium of 51.65 point in last trading session.
The June series closed at a premium of 92.65 point.
The INDIA VIX decreased from 23.69 to 23.01.
At the same time, the PCR-OI of Nifty decreased from
1.07 to 0.92.
Few of the liquid counters where we have seen high cost
of carry are SAIL, NATIONALUM, CIPLA, MUTHOOTFIN
AND UPL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TATACHEM 11198000 19.84 708.55 -9.66
M&MFIN 21304000 16.52 155.45 -3.04
SRF 521875 14.86 6708.55 2.80
RBLBANK 29258100 12.39 181.75 0.39
PNB 201216000 11.34 37.45 8.50
MPHASIS 268775 10.41 1754.90 -1.92
CIPLA 14357850 9.38 878.45 -3.19
PFC 35129200 7.62 107.80 0.70
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ICICIPRULI 6967500 -9.84 553.70 0.29
COFORGE 380625 -9.70 2850.25 -2.04
VOLTAS 2840500 -7.90 964.10 0.37
NAM-INDIA 1577600 -7.33 340.10 0.22
BAJAJFINSV 854275 -6.00 10986.55 -0.66
NAVINFLUOR 377325 -5.47 3391.35 -3.17
EXIDEIND 11930400 -5.26 181.45 -0.11
APLLTD 1139600 -5.22 1006.10 2.63
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.92 0.87
BANKNIFTY 0.77 0.88
RELIANCE 0.42 0.42
ICICIBANK 0.54 0.50
INFY 0.58 0.48
Historical Volatility
SCRIP HV
TATACHEM 49.51
LTTS 52.94
PNB 59.55
MARICO 30.67
TATACONSUM 45.60
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Technical & Derivatives Report
May 05, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Spot =
14496.50
FII Statistics for May 04, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
5055.89
5343.49
(287.60) 100339
10065.48
(5.52)
INDEX
OPTIONS
414776.74
412906.52
1870.22
1019091
102204.13
3.51
STOCK
FUTURES
14806.34
13628.32
1178.02
1345097
97872.23
1.93
STOCK
OPTIONS
12642.16
12709.15
(66.99) 137616
9847.20
13.36
Total 447281.13
444587.48
2693.65
2602143
219989.04
2.78
Turnover on May 04, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,86,243 36052.66 2.12
Index
Options
3,73,49,076 34,84,952.79 23.60
Stock
Futures
8,95,985 67679.01 8.74
Stock
Options
18,10,929 1,40,262.48 6.52
Total 4,04,42,233 37,28,946.94 22.31
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14500 356.85
54.35 45.65 14554.35
Sell 14600 302.50
Buy 14500 356.85
103.75 96.25 14603.75
Sell 14700 253.10
Buy 14600 302.50
49.40 50.60 14649.40
Sell 14700 253.10
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14500 307.20
39.75 60.25 14460.25
Sell 14400 267.45
Buy 14500 307.20
78.60 121.40 14421.40
Sell 14300 228.60
Buy 14400 267.45
38.85 61.15 14361.15
Sell 14300 228.60
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
14000 14100 14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300
Call Put
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Technical & Derivatives Report
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Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
748
759
770
780
792
ASIANPAINT 2,546 2,566
2,592
2,613
2,639
AXISBANK
685
693
706
713
726
BAJAJ-AUTO 3,772 3,801
3,844
3,874
3,917
BAJFINANCE 5,452 5,534
5,642
5,724
5,832
BAJAJFINSV 10,679
10,833
11,026
11,180
11,373
BPCL
412
417
423
428
434
BHARTIARTL
536
544
555
563
574
BRITANNIA 3,397 3,417
3,439
3,459
3,481
CIPLA
852
865
889
902
926
COALINDIA
130
131
134
135
137
DIVISLAB 3,876 3,931
4,017
4,071
4,157
DRREDDY 4,946 5,007
5,115
5,175
5,283
EICHERMOT 2,320 2,344
2,380
2,405
2,441
GRASIM 1,378 1,397
1,423
1,442
1,468
HCLTECH
889
895
905
911
921
HDFCBANK 1,359 1,373
1,398
1,413
1,438
HDFCLIFE
656
662
671
677
687
HDFC 2,334 2,356
2,395
2,417
2,457
HEROMOTOCO 2,735 2,756
2,788
2,809
2,841
HINDALCO
344
353
369
378
394
HINDUNILVR 2,353 2,381
2,399
2,427
2,445
ICICIBANK
577
584
596
603
615
IOC
90
91
92
93
94
INDUSINDBK
888
899
917
928
945
INFY 1,305 1,317
1,336
1,348
1,367
ITC
197
198
200
202
204
JSW STEEL
695
705
721
732
748
KOTAKBANK 1,702 1,717
1,741
1,756
1,779
LT 1,320 1,329
1,340
1,349
1,360
M&M
713
727
745
759
777
MARUTI 6,380 6,444
6,546
6,611
6,713
NESTLEIND 16,276
16,411
16,516
16,651
16,756
NTPC
102
103
104
105
107
ONGC
107
108
109
111
112
POWERGRID
214
216
219
221
224
RELIANCE 1,875 1,896
1,932
1,953
1,989
SBILIFE
914
949
977
1,011
1,039
SHREECEM 27,218
27,486
27,799
28,066
28,379
SBIN
342
347
355
360
368
SUNPHARMA
628
636
651
659
674
TCS 3,003 3,027
3,058
3,082
3,113
TATACONSUM
613
629
658
674
702
TATAMOTORS
281
285
292
297
304
TATASTEEL 1,040 1,052
1,069
1,081
1,098
TECHM
948
954
962
968
976
TITAN 1,378 1,391
1,412
1,425
1,446
ULTRACEMCO 6,195 6,246
6,335
6,386
6,475
UPL
584
598
622
635
659
WIPRO
472
477
483
488
493
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Technical & Derivatives Report
May 05, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalre[email protected]
For Derivatives Queries E-mail: derivat[email protected]
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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]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com