www.angelbroking.com
Technical & Derivatives Report
December 09, 2020
Nifty
Bank Out
look
-
(
30262)
Yesterday, Bank Nifty started on a flat note and was followed by
profit booking in the first half to test levels around 30000.
Subsequently, this dip got bought into especially powered by PSU
Banks that soared after a long time. The bank nifty eventually
ended with marginal gains. Technically not much has changed for
the bank index as it continues to trade within the rising wedge
pattern. In the last few sessions, we witnessed a lackluster session
index front however good stock-specific action has been seen and
especially the way yesterday the PSU banks rallied we would
continue with our recent stance of having a stock-specific
approach. Traders however need to keep a close eye on the lower
side of the rising wedge pattern as a break below the same may
trigger an extended correction. Currently, the dynamic level of the
lower side of the rising wedge pattern is placed around 29700 on
the flip side 30500 followed by 30840 is immediate resistance.
Key Levels
Support 1 – 29900 Resistance 1 – 30500
Support 2 – 29740 Resistance 2 – 30840
Exhibit 1: Nifty Daily Chart
Sensex (45609) / Nifty (13393)
We had a gap up opening yesterday at fresh record highs around
13400. During the mid session, the market erased almost all gains
on the back of some profit booking in some of the heavyweights.
However in the latter half, few big boys like Reliance and IT giants
pulled the market higher from lower levels to end the session
marginally in the green.
Market continues its dream run and it's one of such rarest phases
when it just refuses to fall and keeps giving the gravity defying move.
As we have been mentioning for a few days, although it's always a
soothing factor for the market not correcting; but at the same time,
there will always be a hanging sword of the market surprising with a
sudden correction any time. Hence, to be on the safer side, we are
advocating booking profits in the ongoing rally. As far as levels are
concerned, 13450 - 13500 continues to be a key resistance zone;
whereas on the lower side, crucial support base shifts at 13300 -
13250 now. A move below this support zone would result in an
extended correction.
Yesterday, apart from some of the bigger names, the entire PSU
banking basket just took off. In the recent past, a lot of long time
laggards have also moved, so it was the day of underperforming
banking space to show their presence as well. Traders are advised to
be stock specific but again avoid aggressive overnight bets.
Key Levels
Support 1 – 13300 Resistance 1 – 13450
Support 2 – 13250 Resistance2 – 13500
Exhibit 2: Nifty Bank Daily Chart
www.angelbroking.com
Technical & Derivatives Report
December 09, 2020
Nifty Vs OI
12500
12600
12700
12800
12900
13000
13100
13200
13300
13400
13500
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
11/20 11/24 11/26 12/1 12/3 12/7
(`000)
Openinterest Nifty
View
Nifty started yesterday's session on a positive note and
surpassed the 13400 mark. We witnessed some decline
before noon but similar to the recent past, the dip got
bought into and the index again resumed upmove to
end the day tad below 13400.
FIIs were net buyers in the cash segment to the tune of
Rs. 2910 crore. In index future segment, they sold worth
Rs. 324 crores with decrease in open interest indicating
long unwinding in yesterday’s session.
In yesterday's session, we did not see any
relevant change in the open interest in the indices. FII's
continued to pump in money and bought equities in
the cash segment, while they unwound some of their
index futures longs. However, they majority of their
existing positions are still on the long side with 'Long
Short Ratio' of 75 percent. As per the options data, the
immediate supports are now placed around 13300 and
13200 while the immediate resistance is seen around
13500. Traders are advised to trade with a stock specific
approach and keep a tab on the above mentioned
levels.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.51%
Bank Nifty futures open interest has decreased by 2.87%
as market closed at 13392.95 levels.
The Nifty December future closed with a premium 35.2
point against a premium of 31.85 point in last trading
session. The January series closed at a premium of 70.1
point.
The INDIA VIX remained increased from 18.02 to 18.61.
At the same time, the PCR-OI of Nifty decreased from
1.68 to 1.60.
Few of the liquid counters where we have seen high cost
of carry are IDEA, BHEL, MGL, SAIL AND RECLTD.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
PNB 101020000 28.91 40.60 13.07
CONCOR 10139181 15.59 404.55 -1.67
BANKBARODA 70445800 12.03 65.20 8.35
GODREJCP 4793000 11.41 706.50 -1.03
CHOLAFIN 5900000 10.95 373.05 2.33
WIPRO 27984000 10.49 363.70 1.58
GODREJPROP 1669850 9.83 1256.10 3.63
BHEL 105882000 9.78 36.15 3.56
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CANBK 31472400 -12.91 137.00 13.49
TVSMOTOR 4916800 -10.25 507.85 -0.80
UPL 22900800 -8.18 472.80 -0.66
RBLBANK 16894900 -7.49 237.30 -2.04
AMARAJABAT 1498000 -7.36 918.60 0.38
TORNTPOWER 4254000 -6.83 325.15 0.25
INFRATEL 12236000 -5.98 240.20 -1.35
HINDUNILVR 6138000 -5.78 2260.00 0.17
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.60 0.97
BANKNIFTY 1.18 0.87
RELIANCE 0.57 0.28
ICICIBANK 0.67 0.59
INFY 0.41 0.26
Historical Volatility
SCRIP HV
PNB 56.17
CANBK 63.49
BANKBARODA 59.80
ULTRACEMCO 42.63
GODREJPROP 62.01
www.angelbroking.com
Technical & Derivatives Report
December 09, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot =
13392.95
FII Statistics for December 08, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3536.16
3860.26
(324.10) 141284
13621.99
(1.87)
INDEX
OPTIONS
240287.77
240972.18
(684.41) 795246
75739.30
(4.46)
STOCK
FUTURES
13574.08
13555.20
18.88
1321614
104151.53
0.58
STOCK
OPTIONS
5706.63
5711.27
(4.64) 74795
5969.52
5.85
Total 263104.64
264098.91
(994.27) 2332939
199482.34
(1.19)
Turnover on December 08, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,42,095 29156.36 14.11
Index Options
2,39,32,339
20,70,275.15
26.87
Stock Futures
8,04,587 64281.96 5.88
Stock Options
13,89,314
1,16,477.28
10.08
Total
2,64,68,335
22,80,190.75
25.02
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 13400 223.80
54.10 45.90 13454.10
Sell 13500 169.70
Buy 13400 223.80
99.55 100.45 13499.55
Sell 13600 124.25
Buy 13500 169.70
45.45 54.55 13545.45
Sell 13600 124.25
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 13400 196.25
38.20 61.80 13361.80
Sell 13300 158.05
Buy 13400 196.25
69.70 130.30 13330.30
Sell 13200 126.55
Buy 13300 158.05
31.50 68.50 13268.50
Sell 13200 126.55
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
12700 12800 12900 13000 13100 13200 13300 13400 13500 13600 13700 13800 13900 14000
Call Put
www.angelbroking.com
Technical & Derivatives Report
December 09, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
448
456
465
473
482
ASIANPAINT 2,394 2,417
2,450
2,473
2,507
AXISBANK
606
614
619
626
631
BAJAJ-AUTO 3,253 3,290
3,337
3,374
3,421
BAJFINANCE 4,721 4,756
4,811
4,846
4,901
BAJAJFINSV 8,804 8,887
8,983
9,066
9,162
BPCL
383
387
393
397
403
BHARTIARTL
490
497
507
513
523
BRITANNIA 3,602 3,624
3,639
3,661
3,677
CIPLA
746
756
768
778
789
COALINDIA
130
132
135
137
140
DIVISLAB 3,633 3,661
3,705
3,734
3,778
DRREDDY 4,893 4,954
5,017
5,078
5,141
EICHERMOT 2,464 2,506
2,558
2,600
2,651
GAIL
118
120
122
124
127
GRASIM
905
915
929
939
952
HCLTECH
845
855
865
874
885
HDFCBANK 1,353 1,365
1,377
1,388
1,400
HDFCLIFE
637
644
651
658
665
HDFC 2,266 2,288
2,314
2,336
2,362
HEROMOTOCO 3,126 3,147
3,176
3,197
3,226
HINDALCO
239
242
248
251
256
HINDUNILVR 2,221 2,241
2,259
2,279
2,298
ICICIBANK
502
505
509
512
515
IOC
89
90
91
92
93
INDUSINDBK
889
903
921
935
953
INFY 1,133 1,143
1,155
1,165
1,177
ITC
197
200
202
205
207
JSW STEEL
353
358
362
367
372
KOTAKBANK 1,808 1,821
1,830
1,843
1,852
LT 1,133 1,152
1,167
1,187
1,202
M&M
733
744
754
764
774
MARUTI 7,512 7,637
7,825
7,951
8,138
NESTLEIND 17,202
17,361
17,545
17,704
17,888
NTPC
96
97
99
100
102
ONGC
88
89
91
93
95
POWERGRID
189
190
192
194
196
RELIANCE 1,922 1,958
1,986
2,022
2,050
SBILIFE
843
848
854
859
865
SHREECEM 24,379
24,578
24,934
25,132
25,488
SBIN
262
267
270
275
279
SUNPHARMA
556
562
572
579
588
TCS 2,705 2,751
2,778
2,824
2,852
TATAMOTORS
175
179
182
185
189
TATASTEEL
593
603
612
622
631
TECHM
910
921
934
945
959
TITAN 1,402 1,415
1,425
1,438
1,449
ULTRACEMCO 5,001 5,109
5,173
5,282
5,345
UPL
458
465
477
484
496
WIPRO
356
360
362
366
369
www.angelbroking.com
Technical & Derivatives Report
December 09, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]angelbroking.com
For Derivatives Queries E-mail: derivatives.d[email protected]
DISCLAIMER
Angel Broking Limited (hereinafter referred to as Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make
such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies
referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits
and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the
contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.
Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot
testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.
While Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be
regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]g.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com