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Technical & Derivatives Report
Nifty Bank Outlook
-
(3
5312
)
Bank Nifty started the week with a gap up opening and rallied to
surpass 35200 mark at close. The index witnessed an
outperformance in yesterday’s session as some of the index
heavyweights saw good buying interest. The index has picked up
momentum from the trendline support that we had mentioned
about. This hints at probability that this sector could gain back
momentum and take the lead to take the benchmark higher.
Hence, traders are advised to look for stock specific buying
opportunities from the sector. The immediate supports for the
index are now placed around 35015 and 34925 whereas
resistances are seen around 35380 and 35575.
Key Levels
Support 1 – 35015 Resistance 1 – 35380
Support 2 – 34925 Resistance 2 – 35575
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (52880) / Nifty (15834)
Friday’s tail end recovery was followed by a gap up opening yesterday
to kick-start the new trading week. We clearly shrugged off mixed
global cues early in the morning and traded firmly post the opening
as well. Although we did not add significant gains after the opening
hour, the Nifty maintained its positive posture throughout the session
to close tad below the 15850 mark. Amongst the sectoral movers, the
overall strength in financial and metal counters propelled the Nifty
higher.
Since last 2 3 weeks, market has been moving in a consolidation
phase and it’s been clearly struggling to reach the magical figure of
16000. Now the way broader market has behaved in last couple of
sessions, we will not be surprised to see Nifty reaching there in this
leg of the rally itself and the major catalyst of this achievement is
likely to be the financial space. Let’s see if this presumption turns right
or not and the clarity is likely to come in a day or two. The other
positive factor of yesterday’s move is the shifting of immediate
support base higher towards 15750 – 15700.
We would keep our fingers crossed and hope for Nifty to reach new
milestone in this week itself. This development is important because
not only the heavyweights are likely to come of out of the congestion
but lot of other thematic moves would also start to unfold. Traders
are advised to keep a tab of all these levels and meanwhile continue
to trade in individual stocks by picking up the appropriate candidates.
Key Levels
Support 1 – 15750 Resistance 1 – 15915
Support 2 – 15700 Resistance 2 – 16000
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Nifty Vs OI
15550
15600
15650
15700
15750
15800
15850
15900
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
6/15 6/17 6/21 6/23 6/25 6/29 7/1 7/5
(`000)
Openinterest Nifty
View
Nifty started the week on a positive note and surpassed
the hurdle of 15800 at opening. It maintained its positive
biasness throughout the day and ended the day with
gains of over 100 points at 15834.35.
FIIs were net sellers in the cash segment to the tune of
Rs. 338 crores. In index futures front, they sold worth Rs
99 crores with rise in open interest indicating mixed
positions formed on Monday.
Nifty started the day on an optimistic note and traded
above 15800 mark throughout the day. FII’s formed
mixed positions in the index futures segment. In options
segment, 15700 and 15800 call option writers unwound
some of their positions as the index sustained above the
15800 mark. Decent amount of addition was seen in
15800 and 15700 puts indicating support base shifting
higher. The immediate support for market is placed
around 15750-15700 while resistance is seen around
16000 mark. It is advisable to trade with a positive bias
and look for buying opportunities on intraday dips.
Comments
The Nifty futures open interest has increased by 0.58%.
Bank Nifty futures open interest has increased by 2.47%
as market closed at 15722.20 levels.
The Nifty July future closed with a premium of 33.65 point
against a premium of 19.35 point in last trading session.
The August series closed at a premium of 72.65 point.
The INDIA VIX decreased from 12.09 to 12.06.
At the same time, the PCR-OI of Nifty increased from 1.09
to 1.25.
Few of the liquid counters where we have seen high cost
of carry are CANBK, BANKBARODA, L&TFH, ADANIPORTS
and SUNTV.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NMDC 80728300 24.85 175.25 -4.50
MFSL 3042000 16.88 1031.35 -0.32
BOSCHLTD 145750 15.72 15716.25 2.28
AARTIIND 3015800 12.35 861.20 -1.50
IBULHSGFIN 35234600 12.33 272.40 4.79
GODREJPROP 2167100 10.99 1443.55 4.08
IDEA 741090000 10.28 9.10 3.39
BRITANNIA 2334200 10.07 3523.55 -0.58
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HAVELLS 5804000 -8.32 1022.35 3.66
NTPC 44944500 -6.50 118.60 0.85
MGL 2310000 -5.36 1155.00 1.08
HDFCBANK 24188450 -5.16 1495.45 1.07
JUBLFOOD 1422000 -4.88 3143.15 0.30
NATIONALUM 84405000 -4.45 81.45 2.90
COALINDIA 57863400 -4.15 149.90 1.70
RELIANCE 42588000 -3.74 2150.20 1.00
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.25 0.95
BANKNIFTY 1.03 0.91
RELIANCE 0.43 0.55
ICICIBANK 0.57 0.43
INFY 0.59 0.40
Historical Volatility
SCRIP HV
PIDILITIND 33.99
MUTHOOTFIN 50.61
HAVELLS 42.66
GODREJCP 42.73
NMDC 54.45
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot = 15834.35
FII Statistics for July 05, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3793.36 3694.77 98.59 117020 9436.88 (9.20)
INDEX
OPTIONS
216814.98
222110.20
(5295.22) 808433 70405.79 4.59
STOCK
FUTURES
10641.39 10406.60 234.79 1386979 109591.58
(0.07)
STOCK
OPTIONS
9419.11 9611.70 (192.59) 199969 15709.82 6.19
Total 240668.84
245823.27
(5154.43) 2512401 205144.07
1.38
Turnover on July 05, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,18,211 18248.12 -8.68
Index
Options
2,58,21,284 25,14,357.24
4.61
Stock Futures
5,92,372 49138.10 7.79
Stock
Options
16,09,309 1,35,153.73 8.83
Total 2,82,41,176 27,16,897.19
4.77
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15800 208.15
54.85 45.15 15854.85
Sell 15900 153.30
Buy 15800 208.15
101.30 98.70 15901.30
Sell 16000 106.85
Buy 15900 153.30
46.45 53.55 15946.45
Sell 16000 106.85
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15800 149.95
34.45 65.55 15765.55
Sell 15700 115.50
Buy 15800 149.95
62.30 137.70 15737.70
Sell 15600 87.65
Buy 15700 115.50
27.85 72.15 15672.15
Sell 15600 87.65
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300
Call Put
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Daily Pi
vot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
693
702
711
720
729
ASIANPAINT 2,981 2,998
3,024
3,041
3,067
AXISBANK
750
755
759
764
767
BAJAJ-AUTO 4,150 4,176
4,213
4,239
4,276
BAJFINANCE 5,968 6,021
6,058
6,110
6,148
BAJAJFINSV 11,745
11,834
11,888
11,977
12,031
BPCL
453
456
462
465
471
BHARTIARTL
520
522
525
527
530
BRITANNIA 3,468 3,496
3,540
3,568
3,612
CIPLA
966
971
977
981
988
COALINDIA
146
148
149
151
152
DIVISLAB 4,488 4,524
4,553
4,590
4,619
DRREDDY 5,491 5,515
5,555
5,579
5,619
EICHERMOT 2,649 2,675
2,697
2,724
2,746
GRASIM 1,473 1,481
1,495
1,503
1,517
HCLTECH
967
973
985
991
1,002
HDFCBANK 1,475 1,485
1,495
1,505
1,515
HDFCLIFE
668
673
682
687
696
HDFC 2,462 2,478
2,488
2,504
2,513
HEROMOTOCO 2,912 2,925
2,938
2,952
2,965
HINDALCO
373
381
386
395
400
HINDUNILVR 2,471 2,485
2,499
2,513
2,528
ICICIBANK
639
643
646
651
653
IOC
108
108
109
109
110
INDUSINDBK 1,005 1,013
1,020
1,027
1,034
INFY 1,551 1,565
1,575
1,589
1,599
ITC
202
203
203
204
205
JSW STEEL
660
666
671
677
681
KOTAKBANK 1,713 1,722
1,731
1,740
1,749
LT 1,477 1,493
1,503
1,519
1,529
M&M
781
786
790
795
799
MARUTI 7,517 7,558
7,624
7,665
7,731
NESTLEIND 17,437
17,539
17,626
17,728
17,814
NTPC
116
118
118
119
120
ONGC
118
119
120
122
123
POWERGRID
227
229
230
231
232
RELIANCE 2,123 2,137
2,145
2,159
2,167
SBILIFE 1,001 1,005
1,010
1,015
1,019
SHREECEM 26,763
26,875
27,063
27,175
27,363
SBIN
420
426
430
437
441
SUNPHARMA
675
678
681
684
688
TCS 3,260 3,291
3,332
3,363
3,404
TATACONSUM
761
764
768
770
774
TATAMOTORS
341
343
347
349
353
TATASTEEL 1,126 1,141
1,152
1,167
1,177
TECHM 1,057 1,066
1,080
1,089
1,104
TITAN 1,732 1,741
1,752
1,761
1,772
ULTRACEMCO 6,639 6,680
6,735
6,775
6,830
UPL
793
800
805
813
818
WIPRO
531
534
538
541
546
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Technical and Derivatives Team:
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Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
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