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Technical & Derivatives Report
August 07, 2020
Nifty
Bank Out
-
(
21643
)
On the RBI policy day, Bank Nifty started on a positive note and
after witnessing choppy moves on both sides of the trend ended
near the opening levels with gains of 0.62% at 21642.60.
On the daily chart, Bank Nifty failed to cross its previous session
high at 21936 and ended up forming a 'Doji' pattern. The said
pattern suggests uncertainty amongst market participants due to
the lack of a clear trend. For the coming session, Bank Nifty will
need to surpass the matching high around 21936 for the next
momentum upmove whereas, on the flip side, immediate support
is placed around 21370 followed by crucial support at 21000
levels. We advised traders to be agile in-stock selection from this
sector and have a proper exit setup.
Key Levels
Support 1 – 21370 Resistance 1 – 21936
Support 2 – 21000 Resistance 2 – 22000
Exhibit 1: Nifty Daily Chart
Sensex (38025) / Nifty (11200)
We had a gap up opening yesterday citing favorable cues from the
global peers. Subsequently, the market slipped into a consolidation
mode ahead of the RBI Monetary policy. The RBI eventually
maintained its status quo and since there was no negative
announcement, markets took it positively. Around the mid-session,
strong buying emerged across the broader market and in the
process, the Nifty went on to surpass the 11250 mark. However,
once Nifty approached the sturdy wall of 11300, the bulls chose to
take money off the table and due to weekly expiry, the volatility
increased thereafter. Within no time, markets were significantly off
highs. Fortunately, the selling got absorbed and the Nifty ended the
weekly expiry precisely at 11200.
Technically speaking, the benchmark is still trapped in a range and
till the time we do not see a decisive breakout outside the range of
11350-10880, we are likely to see such wild swings in-between.
Before this, immediate resistance is at 11260 and the supports are
placed at 11127-11064. But there is some encouraging takeaway of
this price action, which is the outperformance of individual themes.
We are witnessing some excellent moves in individual stocks and
that is keeping the traders’ fraternity engrossed all the time.
Key Levels
Support 1 – 11127 Resistance 1 – 11260
Support 2 – 11064 Resistance 2 – 11300
Exhibit 2: Nifty Bank Daily Chart
With reference to our previous commentary, the midcap index
extended its lead yesterday and is approaching a crucial breakout
point, which once surpassed will unfold the next leg of the rally in
the broader market. Hence, the next couple of days would be quite
crucial for this pocket. Apart from this, Metal and Pharma continues
to outshine; but since they have been giving some relentless moves,
as a momentum trader, it’s advisable to book timely profits as well.
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Technical & Derivatives Report
August 07, 2020
Nifty Vs OI
10600
10700
10800
10900
11000
11100
11200
11300
11400
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
7/20 7/22 7/24 7/28 7/30 8/3 8/5
(`000)
Openinterest Nifty
View
s
Nifty rallied higher on the weekly expiry day and ended
at 11200 with some addition of open interest.
FIIs were net buyers in the cash market segment to the
tune of Rs. 637 crores. In index futures, they bought
worth 494 crores with increase in open interest
indicating long formations in yesterday’s session
.
FII bought equities in the cash segment and formed
some long positions in the index futures segment. The
weekly options data hints a support at 11000 mark. The
open interest build up in the coming weekly series is
low and hence, further momentum will depend how the
positions get formed in next couple of sessions. Since
the stock specific movement is positive, traders are
advised to find such opportunities and trade with a
positive bias.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 2.76%
Bank Nifty futures open interest has increased by 0.58%
as market closed at 11200.15 levels.
The Nifty August future closed with a discount of 0.65
point against a premium of 16.35 point in last trading
session. The September series closed at a premium of
11.45 point.
The INDIA VIX has decreased from 23.57 to 23.15
At the same time, the PCR-OI of Nifty increased from 1.26
to 1.49.
Few of the liquid counters where we have seen high cost
of carry are VEDL, SAIL, BANKBARODA, SHREECEM, AND
PFC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
FEDERALBNK 81625500 33.39 52.45 0.48
MUTHOOTFIN 5084250 29.47 1192.40 -5.26
CANBK 16285000 28.84 102.45 -2.38
M&MFIN 20261052 13.11 134.15 1.61
HINDPETRO 27294300 10.00 216.10 1.38
MANAPPURAM 22734000 9.04 154.80 -2.90
SAIL 59375000 8.43 37.55 2.16
ICICIPRULI 8674500 8.19 471.60 1.60
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GODREJPROP 402350 -15.09 889.25 -1.84
SRTRANSFIN 2997498 -11.64 660.75 2.73
BANDHANBNK 28027800 -10.87 300.05 -2.73
BATAINDIA 2289100 -7.47 1264.20 -4.39
MFSL 2367300 -6.04 539.35 -2.12
ESCORTS 2446400 -6.00 1120.60 -2.61
TATACONSUM 13945500 -5.82 484.75 8.34
BAJFINANCE 5300250 -5.72 3345.20 2.62
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.49 1.00
BANKNIFTY 0.86 0.78
RELIANCE 0.72 0.55
ICICIBANK 0.50 0.42
INFY 0.87 0.58
Historical Volatility
SCRIP HV
TATACONSUM 58.24
RECLTD 54.42
BATAINDIA 49.30
TORNTPHARM 48.33
MUTHOOTFIN 64.83
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Technical & Derivatives Report
August 07, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Spot =
11200.15
FII Statistics for August 06, 2020
Detail Buy
Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5636.69
5143.18
493.51
102747
7957.72
8.23
INDEX
OPTIONS
487080.95
484961.52
2119.43
518977
40911.40
(23.43)
STOCK
FUTURES
13431.46
14027.46
(596.00) 1277537
88865.96
0.46
STOCK
OPTIONS
5040.98
5053.34
(12.36) 66800
4521.49
6.22
Total 511190.08
509185.50
2004.58
1966061
142256.57
(6.70)
Turnover on August 06, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,31,419 34566.16 2.04
Index Options 5,86,95,735
38,22,029.20 91.73
Stock Futures 8,11,434 58233.05 -6.49
Stock Options 9,42,238 73544.42 -13.07
Total 6,09,80,826
39,88,372.83 83.44
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11200 216.90
49.80 50.20 11249.80
Sell 11300 167.10
Buy 11200 216.90
92.00 108.00 11292.00
Sell 11400 124.90
Buy 11300 167.10
42.20 57.80 11342.20
Sell 11400 124.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11200 216.60
39.30 60.70 11160.70
Sell 11100 177.30
Buy 11200 216.60
76.10 123.90 11123.90
Sell 11000 140.50
Buy 11100 177.30
36.80 63.20 11063.20
Sell 11000 140.50
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000
Call Put
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
316
320
325
329
335
ASIANPAINT 1,701 1,714
1,733
1,746
1,765
AXISBANK
422
427
433
439
444
BAJAJ-AUTO 2,916 2,954
3,014
3,052
3,113
BAJFINANCE 3,203 3,274
3,326
3,398
3,450
BAJAJFINSV 6,175 6,235
6,303
6,363
6,431
BPCL
396
403
413
420
430
BHARTIARTL
548
551
557
560
566
INFRATEL
187
189
193
195
199
BRITANNIA 3,805 3,831
3,872
3,898
3,939
CIPLA
711
721
730
741
750
COALINDIA
127
128
129
131
132
DRREDDY 4,512 4,548
4,603
4,638
4,693
EICHERMOT 21,239
21,460
21,780
22,001
22,321
GAIL
92
94
95
97
98
GRASIM
619
627
637
644
654
HCLTECH
678
692
700
713
721
HDFCBANK 1,012 1,026
1,041
1,055
1,069
HDFC
597
602
607
612
616
HEROMOTOCO
1,740
1,762
1,784
1,806
1,827
HINDALCO 2,646 2,675
2,704
2,733
2,762
HINDUNILVR
172
175
177
180
182
ICICIBANK 2,177 2,199
2,214
2,236
2,251
IOC
342
350
357
365
372
INDUSINDBK
85
86
87
88
89
INFY
478
486
494
503
510
ITC
931
951
963
983
994
JSW STEEL
192
194
195
196
197
KOTAKBANK
230
235
237
242
245
LT 1,309 1,325
1,346
1,361
1,383
M&M
912
917
925
930
939
MARUTI
599
604
611
617
624
NESTLEIND 6,374 6,465
6,525
6,616
6,677
NTPC 16,359
16,518
16,609
16,768
16,859
ONGC
85
85
86
87
88
POWERGRID
75
77
78
80
81
RELIANCE
174
175
176
177
179
SHREECEM 2,077 2,105
2,137
2,165
2,196
SBIN 21,171
21,447
21,806
22,082
22,441
SUNPHARMA
188
189
192
194
196
TCS
518
525
533
540
549
TATAMOTORS 2,244 2,276
2,298
2,330
2,352
TATASTEEL
114
116
117
118
119
TECHM
379
390
396
407
414
TITAN
641
651
659
668
676
ULTRACEMCO 1,078 1,099
1,112
1,133
1,146
UPL 3,955 3,992
4,038
4,074
4,120
VEDANTA
446
455
461
470
476
WIPRO
274
277
281
283
287
ZEEL
143
146
149
152
156
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Technical & Derivatives Report
August 07, 2020
*
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 same[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