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July 0
7
, 2021
Technical & Derivatives Report
Nifty Bank Outlook
-
(3
5579
)
Yesterday, Bank Nifty started on a flat note however the positive
momentum from the previous session pushed the bank index towards
the 35800 levels. Subsequently, in the last hour, some profit booking
was seen to eventually end with gains of a percent at 35579.
After a very long time, we have seen a clear outperformance by the
banking space and even though the benchmark ended with minor loss
the bank index ended with handsome gains. Now with yesterday's
move, we are witnessing a trendline breakout however with the fag
end profit-booking it just missed to cross above the June swing high
of 35810. Next few sessions will be crucial as if the trend line break out
holds, and if we manage to break above the mentioned swing high,
the banking space can single-handedly push the benchmark index
above the 16000 levels. In such a scenario, traders are advised to focus
on a stock-specific approach within the basket. As far as levels are
concerned, immediate resistance is at 35810 - 36000 whereas support
is at 35160 and 35000 levels.
Key Levels
Support 1 – 35160 Resistance 1 – 35810
Support 2 – 35000 Resistance 2 – 36000
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (52861) / Nifty (15818)
Our markets started the day on a flat note as there was no major trigger
from the global peers. Subsequently, the buying momentum accelerated
in some of the financial stocks, which pushed the index higher towards
the record high. There were couple of attempts made post the mid-
session to register a new high; but this again failed as we saw a complete
nosedive at the stroke of the penultimate hour. This sudden profit
booking pared down all gains to conclude the session with nominal loss.
Yesterday, the kind of lead our markets took in the first half (courtesy to
heavyweight financial stocks), the set up was ideal to post a new high.
Nobody knows why market suddenly becomes so nervous when it enters
the 15900 zone. In the process, the daily candle of Nifty forms a small
body which is a sign of uncertainty. But fortunately the heavyweight
banking space still holds its positive posture and this certainly bodes well
for the bulls. Going ahead, this basket remains to be a decider and we
reiterate if Nifty has to reach the millstone of 16000, we need to have
follow up buying in banking constituents.
As far as levels are concerned for Nifty, 15750 – 15700 is to be seen as a
key support zone and on the higher side, 15900 remains a sturdy wall.
Since last few days, individual themes have again started to perform well
and hence, traders are advised to stick to stock centric approach; but at
the same time, avoid being complacent.
Key Levels
Support 1 – 15750 Resistance 1 – 15915
Support 2 – 15700 Resistance 2 – 16000
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Technical & Derivatives Report
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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
6/14 6/16 6/18 6/22 6/24 6/28 6/30 7/2 7/6
(`000)
Openinterest Nifty
View
Nifty started the day with a positive bias and rallied
towards 15900 mark. However, the index corrected in last
hour of the day and gave up all the gains to end with a
negligible loss.
FIIs were net sellers in the cash segment to the tune of
Rs. 543 crores. In index futures front, they bought worth
Rs 224 crores with rise in open interest indicating long
formations in yesterday’s session.
Nifty rallied towards the 15900 mark but again it failed to
continue the momentum. However, the banking index
showed strength and outperformed which was mainly
due to short covering. FII's added some longs to their
index futures positions but were sellers in cash segment.
In options segment, 15900-16000 calls added open
interest which is the resistance zone while marginal
unwinding was seen in out of money put options. The
index could continue to consolidate in 15700-16000
range and hence, traders can look to trade with a stock
specific approach.
Comments
The Nifty futures open interest has increased by 2.41%.
Bank Nifty futures open interest has decreased by 4.74%
as market closed at 15818.25 levels.
The Nifty July future closed with a premium of 19.2 point
against a premium of 33.65 point in last trading session.
The August series closed at a premium of 57.7 point.
The INDIA VIX increased from 12.06 to 12.27. At the same
time, the PCR-OI of Nifty decreased from 1.25 to 1.08.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GRASIM, JSWSTEEL, ADANIPORTS, AND
JUBLFOOD.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NMDC 107220100 32.82 169.45 -2.77
BAJFINANCE 3991750 15.66 6202.40 2.14
BIOCON 16856700 14.68 388.85 -3.90
TATAMOTORS 105355950 14.58 316.90 -8.68
AMBUJACEM 18858000 13.86 351.85 3.66
LALPATHLAB 536500 13.73 3472.75 2.80
BAJAJ-AUTO 1723500 11.72 4195.30 -0.11
ALKEM 557600 10.11 3315.25 1.99
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MUTHOOTFIN 3309000 -19.30 1535.20 -1.67
GODREJCP 4507000 -10.89 964.25 3.94
TRENT 892475 -10.86 901.85 0.07
AUBANK 3210000 -10.30 1114.35 7.99
KOTAKBANK 20276400 -9.03 1755.35 1.31
CHOLAFIN 9545000 -7.89 521.20 0.12
PAGEIND 62970 -7.66 30263.15 0.09
IBULHSGFIN 32624400 -7.41 262.25 -4.00
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.08 0.94
BANKNIFTY 1.21 0.85
RELIANCE 0.42 0.41
ICICIBANK 0.63 0.43
INFY 0.57 0.49
Historical Volatility
SCRIP HV
TATAMOTORS 64.00
AUBANK 59.55
RAMCOCEM 38.90
GODREJCP 43.00
AMBUJACEM 39.49
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Technical & Derivatives Report
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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 = 15818.25
FII Statistics for July 06, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3003.23
2779.50
223.73
130122
10615.04
3.96
INDEX
OPTIONS
394854.97
392488.31
2366.66
949692
84470.80
9.35
STOCK
FUTURES
14399.17
13340.49
1058.68
1402643
111358.70
0.94
STOCK
OPTIONS
13772.62
14146.87
(374.25) 229965
18448.40
9.49
Total 426029.99
422755.17
3274.82
2712422
224892.94
4.59
Turnover on July 06, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,59,252 22040.20 20.78
Index
Options
4,52,94,036 44,24,628.58
75.97
Stock Futures
7,84,398 65022.67 32.33
Stock
Options
22,19,568 1,88,754.66 39.66
Total 4,85,57,254 47,00,446.11
73.01
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15800 194.90
52.05 47.95 15852.05
Sell 15900 142.85
Buy 15800 194.90
95.90 104.10 15895.90
Sell 16000 99.00
Buy 15900 142.85
43.85 56.15 15943.85
Sell 16000 99.00
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15800 157.45
37.85 62.15 15762.15
Sell 15700 119.60
Buy 15800 157.45
65.65 134.35 15734.35
Sell 15600 91.80
Buy 15700 119.60
27.80 72.20 15672.20
Sell 15600 91.80
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300
Call Put
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Technical & Derivatives Report
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
692
703
717
727
742
ASIANPAINT 2,976 2,989
3,009
3,023
3,043
AXISBANK
748
753
760
765
772
BAJAJ-AUTO 4,128 4,162
4,205
4,239
4,282
BAJFINANCE 5,910 6,056
6,199
6,346
6,489
BAJAJFINSV 11,670
11,881
12,081
12,292
12,493
BPCL
454
456
460
462
465
BHARTIARTL
518
522
525
529
532
BRITANNIA 3,495 3,507
3,521
3,532
3,546
CIPLA
959
964
970
974
980
COALINDIA
145
146
148
150
152
DIVISLAB 4,470 4,497
4,539
4,567
4,609
DRREDDY 5,491 5,515
5,538
5,562
5,585
EICHERMOT 2,674 2,693
2,712
2,730
2,750
GRASIM 1,471 1,484
1,505
1,518
1,538
HCLTECH
963
967
975
979
987
HDFCBANK 1,480 1,507
1,524
1,551
1,568
HDFCLIFE
669
674
681
686
693
HDFC 2,473 2,485
2,502
2,513
2,531
HEROMOTOCO 2,887 2,903
2,929
2,945
2,970
HINDALCO
380
383
387
390
394
HINDUNILVR 2,451 2,462
2,480
2,491
2,509
ICICIBANK 640
645
650
655
660
IOC
107
108
109
109
110
INDUSINDBK 1,007 1,019
1,027
1,039
1,047
INFY 1,539 1,551
1,569
1,580
1,598
ITC
201
202
203
203
204
JSW STEEL
663
668
675
680
687
KOTAKBANK 1,714 1,735
1,747
1,768
1,780
LT 1,489 1,497 1,
508
1,516
1,527
M&M
769
775
785
792
802
MARUTI 7,383 7,449
7,553
7,619
7,724
NESTLEIND 17,287
17,379
17,508
17,600
17,729
NTPC
116
117
118
119
120
ONGC
119
120
123
124
126
POWERGRID
227
228
229
230
231
RELIANCE 2,103 2,114
2,131
2
,142
2,160
SBILIFE
994
1,009
1,021
1,035
1,048
SHREECEM 26,640
27,204
27,565
28,129
28,490
SBIN
423
426
431
435
440
SUNPHARMA
666
669
676
680
687
TCS 3,210 3,236
3,282
3,308
3,354
TATACONSUM
752
757
763
768
774
TATAMOTORS
282
300
329
346
376
TATASTEEL 1,137 1,152
1,165
1,180
1,193
TECHM 1,030 1,040
1,057
1,067
1,084
TITAN 1,733 1,748
1,761
1,776
1,789
ULTRACEMCO 6,615 6,774
6,887
7,046
7,158
UPL
792
798
807
812
822
WIPRO
528
530
534
537
541
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Technical & Derivatives Report
July 0
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, 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 [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