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January 08, 2021
Technical & Derivatives Report
Nifty
Bank Out
-
(
31956)
Wednesday’s intraday hiccup was followed by a surprising gap up
opening in our markets. The BANKNIFTY opened higher well
above 32000 and made an attempt towards 32200 in the initial
trades. However, we once again witnessed some profit booking in
the second half, resulting into trimming of gains to conclude
below the 32000 mark.
Although, banking index came off a bit from intraday highs, it
managed to close well inside the positive territory, which was not
the case for Nifty. So for the third session, the BANKNIFTY
outperformed the benchmark index. Going ahead, all eyes would
be on the banking space; because its very much within the kissing
distance of its previous record high of 32600. If it manages to
cross this, it would lead Nifty to higher levels. But if it fails to do
so, market can see some much awaited corrective move. Let see
how things pan out and probably within a week or so, things will
get clear.
Key Levels
Support 1 – 31650 Resistance 1 – 32200
Support 2 – 31500 Resistance 2 – 32600
Exhibit 1: Nifty Daily Chart
Se
nsex
(
48093)
/ Nifty
(
14137
)
Nifty started the session on a positive note around the previous day’s
high. However, the index did not see any follow up move and it
consolidated within a narrow range and ended on a flat note.
Although we did not see any move in the Nifty, the broader markets
kept buzzing throughout the day and we saw good moves in a lot of
mid cap and small cap counters. The Bank Nifty also continued its
relative outperformance and surpassed the 32000 mark. In last
couple of sessions ,the Nifty has consolidated within a range but the
real action lies within the midcap and small cap basket. There are no
signs of reversal yet and hence the broader trend continues to be
positive. However, traders now need to focus more on stock specific
opportunities where better trading opportunities are seen. For the
coming session, the support for Nifty are placed around 14088 and
14040 whereas resistances are seen around 14250 and 14300. As
the trend remains positive, traders are advised to look for buying
opportunities in intraday declines.
Key Levels
Support 1 – 14088 Resistance 1 – 14250
Support 2 – 14040 Resistance2 – 14300
Exhibit 2: Nifty Bank Daily Chart
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January 08, 2021
Nifty Vs OI
12800
13000
13200
13400
13600
13800
14000
14200
14400
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
12/15 12/17 12/21 12/24 12/28 12/30 1/1 1/5 1/7
(`000)
Openinterest Nifty
View
Post a positive opening, Nifty consolidated within a narrow
range on the weekly expiry day and ended around the
previous days close.
FIIs were net buyers in the cash segment to the tune of Rs.
382 crore. In index future segment, they bought worth Rs.
217 crores with decrease in open interest indicating short
covering in yesterday’s session.
It was a day of consolidation for the indices yesterday as we
did not see any significant change in open interest. FII's
unwound some of their shorts in index futures and they
continue to hold good amount of longs. Recently formed
longs in Banknifty too are intact and hence, we continue
with our optimistic view in the banking sector. The
immediate resistance for Nifty is seen around 14250-14300
whereas support is placed at 14100-14000. Traders are
advised to trade with a stock specific approach as better
trading opportunities are seen there.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 0.45%
Bank Nifty futures open interest has decreased by 0.22%
as market closed at 14137.35 levels.
The Nifty January future closed with a premium of 53.75
point against a premium of 43.20 point in last trading
session. The February series closed at a premium of 89.65
point.
The INDIA VIX decreased from 20.99 to 20.61.
At the same time, the PCR-OI of Nifty decreased from
1.25 to 1.19.
Few of the liquid counters where we have seen high cost
of carry are IDEA, PNB, RELIANCE, CANBK, AND
LALPATHLAB.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LALPATHLAB 154000 49.51 2395.40 1.92
HDFCAMC 274000 19.03 3063.15 -1.12
TATACHEM 8436000 19.02 498.45 1.49
GODREJPROP 1573650 18.73 1452.75 -1.03
PEL 5207400 17.32 1496.80 5.79
BOSCHLTD 167950 14.96 13863.75 4.36
COFORGE 500625 12.94 2740.90 -2.19
TCS 6382800 12.26 3032.80 -0.39
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
RAMCOCEM 1687250 -21.04 832.20 3.26
IDFCFIRSTB 143640000 -8.33 45.80 10.88
POWERGRID 20968000 -8.28 197.05 0.30
APOLLOHOSP 1670000 -8.14 2508.70 0.44
ACC 2967500 -8.13 1704.35 1.50
IGL 6419875 -7.08 540.00 -0.38
BATAINDIA 1198450 -4.89 1640.85 -1.21
EXIDEIND 12654000 -4.35 197.05 1.41
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.19 1.05
BANKNIFTY 1.04 1.05
RELIANCE 0.52 0.38
ICICIBANK 0.64 0.53
INFY 0.49 0.43
Historical Volatility
SCRIP HV
IDFCFIRSTB 60.89
BHARATFORG 60.15
SUNTV 50.81
SRTRANSFIN 74.95
CUMMINSIND 42.01
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Technical & Derivatives Report
January 08, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot =
14137.35
FII Statistics for January 07, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3061.89
2844.79
217.10
130939
13076.86
(1.87)
INDEX
OPTIONS
534146.52
531421.14
2725.38
594667
59723.15
(25.60)
STOCK
FUTURES
14141.25
13970.49
170.76
1201065
99038.05
1.18
STOCK
OPTIONS
7381.50
7534.28
(152.78) 115090
9289.20
6.08
Total 558731.16
555770.70
2960.46
2041761
181127.26
(8.37)
Turnover on January 07, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 2,70,431 24474.57 -27.53
Index
Options
6,61,14,454
58,24,952.33
57.92
Stock
Futures
8,47,686 72821.30 -6.93
Stock
Options
14,34,337
1,29,063.28
-0.92
Total
6,86,66,908
60,51,311.48
53.94
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14200 240.80
53.20 46.80 14253.20
Sell 14300 187.60
Buy 14200 240.80
97.55 102.45 14297.55
Sell 14400 143.25
Buy 14300 187.60
44.35 55.65 14344.35
Sell 14400 143.25
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14100 209.15
36.35 63.65 14063.65
Sell 14000 172.80
Buy 14100 209.15
64.95 135.05 14035.05
Sell 13900 144.20
Buy 14000 172.80
28.60 71.40 13971.40
Sell 13900 144.20
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
13500 13600 13700 13800 13900 14000 14100 14200 14300 14400 14500 14600 14700 14800
Call Put
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January 08, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
490
502
511
523
533
ASIANPAINT 2,752 2,772
2,802
2,822
2,852
AXISBANK
651
661
669
679
686
BAJAJ-AUTO 3,379 3,408
3,458
3,487
3,537
BAJFINANCE 4,968 5,024
5,078
5,135
5,188
BAJAJFINSV 8,699 8,844
8,956
9,101
9,213
BPCL
384
388
392
396
399
BHARTIARTL
515
530
542
557
570
BRITANNIA 3,494 3,524
3,546
3,575
3,597
CIPLA
813
820
825
832
837
COALINDIA
135
136
137
138
139
DIVISLAB 3,720 3,761
3,833
3,874
3,946
DRREDDY 5,211 5,241
5,283
5,313
5,355
EICHERMOT 2,594 2,622
2,669
2,697
2,744
GAIL
130
132
134
135
137
GRASIM
964
979
992
1,007
1,019
HCLTECH
941
952
970
981
999
HDFCBANK 1,400 1,408
1,420
1,428
1,441
HDFCLIFE
689
697
710
718
732
HDFC 2,611 2,636
2,673
2,698
2,735
HEROMOTOCO 2,987 3,021
3,068
3,102
3,149
HINDALCO
255
264
270
279
284
HINDUNILVR 2,321 2,345
2,389
2,413
2,457
ICICIBANK
530
536
545
550
560
IOC
93
94
95
95
96
INDUSINDBK
918
935
948
965
979
INFY 1,230 1,246
1,272
1,288
1,314
ITC
199
201
204
206
210
JSW STEEL
397
401
407
411
417
KOTAKBANK 1,925 1,939
1,961
1,975
1,998
LT 1,315 1,327
1,337
1,349
1,359
M&M
732
738
747
753
761
MARUTI 7,455 7,511
7,608
7,663
7,760
NESTLEIND 17,699
17,913
18,264
18,478
18,829
NTPC
96
96
97
98
99
ONGC
96
97
98
99
100
POWERGRID
192
194
198
201
204
RELIANCE 1,881 1,896
1,920
1,936
1,960
SBILIFE
899
907
912
919
924
SHREECEM 24,414
24,708
24,954
25,248
25,494
SBIN
284
286
289
291
294
SUNPHARMA
593
597
603
607
613
TCS 2,957 2,995
3,038
3,076
3,119
TATAMOTORS
192
194
197
200
203
TATASTEEL
676
699
715
739
755
TECHM
976
986
998
1,007
1,019
TITAN 1,514 1,528
1,549
1,563
1,584
ULTRACEMCO 5,301 5,349
5,434
5,482
5,566
UPL
469
476
481
488
493
WIPRO
399
403
408
412
417
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Technical & Derivatives Report
January 08, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalrese[email protected]king.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