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Technical & Derivatives Report
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)
The banking index opened marginally lower citing to some
nervousness across the globe. We did manage to recover in the
initial hour which was then followed by some consolidation.
However around the mid session, the selling augmented in our
markets which was clearly a rub off effect of extended sell off in
global peers. As a result, BANKNIFTY corrected sharply in the
latter half to conclude the weekly expiry with a cut of 1.40%.
The way our markets closed on Wednesday, we were all poised
for yet another strong session in our market. However the global
sell off poured complete water on this optimism and thereby
triggered a strong liquidation in the market. For the day, banking
index managed to find support at its key level of 35100. But a
sustenance of this is solely depended on how things pan out in
first half of today’s session. If downmove extends, we must then
prepare ourselves for a move towards 34800 - 34600. On the flip
side, If we hold the above mentioned support zone then we may
see some recovery towards 35400 - 35500.
Key Levels
Support 1 – 35100 Resistance 1 – 35400
Support 2 – 34800 Resistance 2 – 35500
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (52569) / Nifty (15728)
Nifty started the weekly expiry day marginally negative on back of
soft global cues. Post some consolidation in the first hour, the
indices witnessed selling pressure and it crept lower throughout the
day to end with a loss of about a percent.
The way markets ended on Wednesday, it seemed that we were on
a path for a resumption of the uptrend and mark new records on
the weekly expiry session. However, the global sell-off caught the
traders (including us) on the wrong foot and the index breached the
intraday supports which resulted in more selling pressure. With
yesterday’s correction, Nifty is back within the range that it has been
consolidating since last one month. Hence, the trend still continues
to be sideways with support around 15635 and resistance at
15900-15920. This indicates that traders will still have to wait for a
breakout on either side to predict the next directional move. Until
that happens, one should continue to trade with a stock specific
approach and avoid aggressive overnight positions.
Key Levels
Support 1 – 15700 Resistance 1 – 15850
Support 2 – 15635 Resistance 2 – 15920
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Nifty Vs OI
15550
15600
15650
15700
15750
15800
15850
15900
15950
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
6/16 6/18 6/22 6/24 6/28 6/30 7/2 7/6 7/8
(`000)
Openinterest Nifty
View
Post Wednesday’s latter half recovery, we started off the
weekly expiry day on a slightly negative note. As we
progressed, due to lack of buying index Nifty
consolidated in the initial couple of hours. However,
selling aggrevated in the midst and the benchmark
index plunged below 15700 mark. Eventually, due to
some respite we concluded the day tad below 15750
with a cut of nearly a percent.
FIIs were net sellers in the cash segment to the tune of
Rs. 555 crores. In index futures front, they sold worth
Rs 2938 crores with good amount of rise in open
interest indicating short formation in yesterday’s
session.
After quite some time, we witnessed releveant open
interest addition in both the indices. In yesterday’s fall,
decent short formation was seen in Nifty as well as
BankNifty. Stronger hands too participate by selling
equities, index futures and stock futures. Now, their
index futures Long Shorh Ratio has plunged to 57%
from 72%. In options front, we saw good amount of
writing in in 15800-15900 call strikes. Meanwhile, some
build-up was also seen in 15500-15700 puts. For the
coming week, 15800 call and 15500 put strikes holds
highest OI concentration. Once again due to yesterday’s
sell-off, the PCR-OI has reached over sold zone. Nifty
has concluded at a important support zone around
15700, follow-up action may dictate the trend for short
term; hence, wait and watch should be the strategy.
Comments
The Nifty futures open interest has increased by 5.32%.
Bank Nifty futures open interest has increased by 4.31%
as market closed at 15727.90 levels.
The Nifty July future closed with a premium of 7.50
point against a premium of 6.75 point in last trading
session. The August series closed at a premium of 52.55
point.
The INDIA VIX increased from 12.21 to 13.56. At the
same time, the PCR-OI of Nifty decreased from 1.25 to
0.91.
Few of the liquid counters where we have seen high cost
of carry are NMDC, AARTIIND, MANAPPURAM,
CONCOR
and
COALINDIA
.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
COFORGE 590200 17.38 4464.60 4.75
TATAMOTORS 136891200 15.40 306.35 -3.65
BANDHANBNK 17584200 7.07 314.10 -2.01
AARTIIND 3955050 6.31 848.40 -1.62
CONCOR 6994425 6.19 681.75 -1.47
TCS 9446100 6.14 3258.45 -0.40
JINDALSTEL 36825000 6.11 386.55 -3.75
RECLTD 24744000 5.58 143.45 -0.62
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HINDALCO 26356850 -13.47 383.10 -2.79
INDUSTOWER 13938400 -9.80 239.85 1.97
SRTRANSFIN 3824000 -7.83 1431.55 -1.05
HINDPETRO 18270900 -7.25 283.85 -0.18
RBLBANK 23858300 -6.17 215.75 -3.70
BHARATFORG 5683500 -5.75 808.95 0.33
SAIL 177127500 -5.43 122.90 -4.43
ASHOKLEY 39942000 -5.41 124.00 0.12
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.91 0.88
BANKNIFTY 0.77 0.92
RELIANCE 0.42 0.42
ICICIBANK 0.59 0.65
INFY 0.53 0.51
Historical Volatility
SCRIP HV
COFORGE 59.93
IGL 41.79
SAIL 68.15
JSWSTEEL 50.84
TATAMOTORS 63.88
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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.
FII Statistics for July 08, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3925.96 6863.48 (2937.52) 141811 11493.38 15.43
INDEX
OPTIONS
859042.02 854354.61 4687.41
847117 72342.79 (23.37)
STOCK
FUTURES
11354.59 12440.27 (1085.68) 1398175 110453.16 (0.36)
STOCK
OPTIONS
12642.03 13046.80 (404.77) 262826 20987.97 7.41
Total 886964.60
886705.16
259.44
2649929
215277.30
(7.87)
Turnover on July 08, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,60,129 30082.13 76.79
Index
Options
10,51,98,873
1,02,68,425.23
132.22
Stock Futures
6,37,009 50737.21 -4.74
Stock
Options
17,36,633 1,43,796.19 -8.32
Total 10,79,32,644
1,04,93,040.76
125.71
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15700 209.60
53.55 46.45 15753.55
Sell 15800 156.05
Buy 15700 209.60
97.45 102.55 15797.45
Sell 15900 112.15
Buy 15800 156.05
43.90 56.10 15843.90
Sell 15900 112.15
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15700 174.85
39.25 60.75 15660.75
Sell 15600 135.60
Buy 15700 174.85
69.55 130.45 15630.45
Sell 15500 105.30
Buy 15600 135.60
30.30 69.70 15569.70
Sell 15500 105.30
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300 16400 16500
Call Put
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
697
705
716
723
735
ASIANPAINT 2,995 3,012
3,035
3,052
3,076
AXISBANK
742
748
758
764
773
BAJAJ-AUTO 3,988 4,032
4,075
4,120
4,163
BAJFINANCE 5,999 6,059
6,140
6,199
6,280
BAJAJFINSV 12,131
12,233
12,341
12,443
12,551
BPCL
451
455
460
464
469
BHARTIARTL
518
522
527
531
536
BRITANNIA 3,444 3,468
3,497
3,520
3,550
CIPLA
931
941
954
964
978
COALINDIA
144
145
147
148
149
DIVISLAB 4,464 4,487
4,524
4,547
4,584
DRREDDY 5,363 5,415
5,501
5,553
5,640
EICHERMOT 2,692 2,711
2,724
2,743
2,756
GRASIM 1,456 1,466
1,482
1,492
1,509
HCLTECH
964
971
976
983
988
HDFCBANK 1,500 1,510
1,524
1,534
1,548
HDFCLIFE
672
677
683
688
694
HDFC 2,485 2,499
2,521
2,535
2,557
HEROMOTOCO 2,864 2,882
2,908
2,927
2,953
HINDALCO
374
379
386
390
397
HINDUNILVR 2,421 2,434
2,452
2,465
2,483
ICICIBANK
629
635
645
651
661
IOC
106
107
108
109
110
INDUSINDBK 1,023 1,034
1,048
1,059
1,072
INFY 1,535 1,548
1,562
1,575
1,589
ITC
200
201
203
204
205
JSW STEEL
651
659
675
684
700
KOTAKBANK 1,702 1,717
1,740
1,755
1,778
LT 1,480 1,490
1,507
1,517
1,534
M&M
762
769
778
786
795
MARUTI 7,315 7,358
7,428
7,471
7,541
NESTLEIND 17,457
17,538
17,619
17,700
17,781
NTPC
116
117
118
118
119
ONGC
115
116
118
119
120
POWERGRID
228
229
231
233
235
RELIANCE 2,061 2,077
2,097
2,113
2,133
SBILIFE
993
1,007
1,017
1,031
1,040
SHREECEM 27,056
27,319
27,705
27,967
28,353
SBIN
414
419
427
433
441
SUNPHARMA
655
661
671
677
687
TCS 3,197 3,228
3,263
3,294
3,329
TATACONSUM
753
758
762
767
771
TATAMOTORS
299
303
309
312
319
TATASTEEL 1,152 1,171
1,200
1,219
1,249
TECHM 1,038 1,049
1,056
1,067
1,075
TITAN 1,706 1,716
1,731
1,741
1,756
ULTRACEMCO 6,761 6,832
6,913
6,984
7,065
UPL
798
806
815
823
833
WIPRO
523
527
532
536
541
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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 sameet.cha[email protected]roking.com
Ruchit Jain Senior Analyst - Technical & Derivatives [email protected]gelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com