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February 12, 2021
Technical & Derivatives Report
Nifty
Bank Out
look
-
(
35752)
We had a flat opening yesterday despite SGX Nifty indicating a
sluggish start. In the initial hour, BANKNIFTY marched towards
36000 but the attempt got sold into. The similar attempt was
made at the midsession as well and the result was the same as
the previous one. During the remaining part of the session,
banking index consolidated in a range to conclude the weekly
expiry on a flat note.
Yesterday, every valiant attempt to go beyond 36000 was failing
comfortably and at the same time, it was not weak enough to
sneak below 35500 as well. So at the end, it turned out to be a
boring weekly expiry and it’s clearly visible looking at the price
action in last 3 – 4 sessions. The undertone remains bullish but do
not have enough strength to extend the recent rally. Hence, the
commentary may sound a bit repetitive as there was no major
action in the index. For the coming session, 36000 36200
remains to be an immediate resistance; whereas on the lower
side, 35500 is the level to watch out for. A move below this key
level would result into some weakness in the banking space.
Key Levels
Support 1 – 35500 Resistance 1 – 36000
Support 2 – 35000 Resistance 2 – 36200
Exhibit 1: Nifty Daily Chart
Se
nsex
(
51532)
/ Nifty
(
15173
)
The weekly expiry session turned out to be a day of consolidation
as the Nifty traded with a narrow range and ended the day with
gains of less than half a percent.
Unlike last week, it has been a week of consolidation so far for the
indices as Nifty as well as Bank Nifty have traded with a narrow
range. There are no signs of reversal of the trend and hence, this
just seem to be a time-wise correction which was much required
post the sharp run up in the budget week. As of now, there are no
signs of any deeper retracements and hence, once this
consolidation is over we expect the markets to resume its uptrend.
The immediate supports for Nifty are placed around 15100
followed by 14975 whereas resistance is seen around the swing
high of 15250 above which Nifty should resume momentum.
Although the indices have not moved much during this week, the
stock specific action has been buzzing and has provided
opportunities for trading. Till the index is locked in this range,
traders are advised to look for potential stock specific movers and
trade with proper risk management.
Key Levels
Support 1 – 15100 Resistance 1 – 15250
Support 2 – 14975 Resistance2 – 15300
Exhibit 2: Nifty Bank Daily Chart
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February 12, 2021
Nifty Vs OI
12500
13000
13500
14000
14500
15000
15500
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
1/21 1/25 1/28 2/1 2/3 2/5 2/7 2/10
(`000)
Openinterest Nifty
View
We started weekly expiry day slightly lower but smart
buying emerged in the initial hour of trade to rally beyond
15150 mark. As the day progressed, index consolidated in
a range and eventually concluded the day with the gains
of 0.44% .
FIIs were net buyers in the cash segment to the tune of
Rs. 944 crore. In index future segment, they bought
marginally with decent amount of rise in open interest
indicating formation of mixed positions.
Post last three consective sessions, we saw fresh build-up
in both the indices. However, the quantum remained
insignificant. Stronger hands continued their buying streak
in equities and preffered adding mixed positions in index
futures segment. In index options front, we saw decent
unwinding in 15100 call options; followed by some fresh
build-up in 15200 strike. On the flip side, good amount of
writing was seen in 15100 and 15150 put strikes.
Considering yesterday’s development, we believe
15100-15150 may now act as support zone; whereas,
immediate hurdle is placed around 15250-15300.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.87%
Bank Nifty futures open interest has increased by 4.13%
as market closed at 15173.30 levels.
The Nifty February future closed with a discount of 11.65
point against a discount of 13.05 point in last trading
session. The March series closed at a premium of 52.25
point.
The INDIA VIX decreased from 24.27 to 23.04.
At the same time, the PCR-OI of Nifty increased from
1.30 to 1.36.
Few of the liquid counters where we have seen high cost
of carry are SAIL, APOLLOTYRE, HINDALCO, and INDIGO.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HINDALCO 32336000 34.17 295.40 5.85
BANKBARODA 97086600 18.56 77.20 -2.71
M&MFIN 13364000 16.25 196.95 2.85
MGL 1757400 15.95 1163.65 3.15
BATAINDIA 1824900 12.25 1531.45 -2.51
ITC 147680000 11.11 226.45 -0.47
IDEA 973770000 10.40 12.90 7.92
HDFCAMC 483400 8.19 2979.40 -0.64
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MOTHERSUMI 37709000 -12.43 179.30 2.84
PAGEIND 99210 -9.35 30762.95 -3.88
DABUR 12837500 -9.18 535.80 2.09
CHOLAFIN 5120000 -8.49 471.60 0.55
CADILAHC 11112200 -7.30 470.85 -0.03
TORNTPOWER 5193000 -6.89 333.90 0.97
MUTHOOTFIN 4378500 -6.20 1276.25 0.59
TORNTPHARM 1273000 -4.61 2608.80 1.04
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.36 1.06
BANKNIFTY 0.90 0.92
RELIANCE 0.50 0.36
ICICIBANK 1.09 0.97
INFY 0.46 0.40
Historical Volatility
SCRIP HV
MRF 40.30
NAUKRI 57.10
HINDALCO 60.82
RELIANCE 45.88
PAGEIND 46.23
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Technical & Derivatives Report
February 12, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Spot =
15173.30
FII Statistics for February 11, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2582.67 2580.55 2.12
119488 12894.84 3.43
INDEX
OPTIONS
717531.44 714640.02 2891.42
789609 85326.44 (23.16)
STOCK
FUTURES
12167.88 12452.76 (284.88) 1214996 105283.43 1.02
STOCK
OPTIONS
13643.20 13767.78 (124.58) 189597 16807.90 6.17
Total 745925.19
743441.11
2484.08
2313690
220312.61
(8.35)
Turnover on February 11, 2020
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 2,75,166 27091.42 -34.94
Index Options 6,88,40,489
66,42,914.17 51.99
Stock Futures 7,75,183 68306.57 -17.41
Stock Options 16,59,202
1,42,726.54 -8.72
Total 7,15,50,040
68,81,038.70 47.94
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15200 208.90
50.35 49.65 15250.35
Sell 15300 158.55
Buy 15200 208.90
92.90 107.10 15292.90
Sell 15400 116.00
Buy 15300 158.55
42.55 57.45 15342.55
Sell 15400 116.00
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15200 221.05
40.35 59.65 15159.65
Sell 15100 180.70
Buy 15200 221.05
73.65 126.35 15126.35
Sell 15000 147.40
Buy 15100 180.70
33.30 66.70 15066.70
Sell 15000 147.40
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
14400
14500
14600
14700
14800
14900
15000
15100
15200
15300
15400
15500
15600
15700
Call Put
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February 12, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
570
581
587
598
605
ASIANPAINT 2,469 2,487
2,514
2,532
2,558
AXISBANK
725
733
738
746
752
BAJAJ-AUTO 4,094 4,138
4,170
4,214
4,246
BAJFINANCE 5,405 5,486
5,537
5,618
5,669
BAJAJFINSV 9,934
10,075
10,247
10,388
10,559
BPCL
411
417
420
425
428
BHARTIARTL
582
590
597
605
611
BRITANNIA 3,401 3,432
3,451
3,482
3,501
CIPLA
845
852
864
871
882
COALINDIA
134
136
138
139
141
DIVISLAB 3,691 3,722
3,744
3,775
3,796
DRREDDY 4,782 4,803
4,832
4,853
4,882
EICHERMOT 2,647 2,733
2,787
2,872
2,926
GAIL
131
134
136
139
141
GRASIM 1,211 1,223
1,234
1,246
1,257
HCLTECH
946
958
965
978
985
HDFCBANK 1,545 1,558
1,578
1,592
1,612
HDFCLIFE
701
708
717
724
733
HDFC 2,725 2,743
2,755
2,773
2,785
HEROMOTOCO 3,443 3,492
3,523
3,572
3,603
HINDALCO
273
284
291
302
308
HINDUNILVR 2,221 2,242
2,255
2,276
2,289
ICICIBANK
620
625
629
635
639
IOC
95
96
97
97
98
INDUSINDBK 1,004 1,013
1,024
1,034
1,045
INFY 1,278 1,285
1,291
1,298
1,304
ITC
222
224
227
229
232
JSW STEEL
399
404
410
415
420
KOTAKBANK 1,919 1,940
1,962
1,983
2,006
LT 1,506 1,518
1,539
1,551
1,572
M&M
895
904
912
922
930
MARUTI 7,483 7,575
7,660
7,752
7,836
NESTLEIND 17,039
17,226
17,337
17,523
17,634
NTPC
96
96
97
98
99
ONGC
98
99
100
100
101
POWERGRID
206
210
212
216
219
RELIANCE 1,939 1,997
2,031
2,089
2,123
SBILIFE
895
901
912
918
928
SHREECEM 27,795
28,070
28,285
28,559
28,775
SBIN
383
387
392
395
400
SUNPHARMA
611
628
638
654
665
TCS 3,169 3,188
3,203
3,222
3,238
TATAMOTORS
319
322
327
330
335
TATASTEEL
672
684
694
705
716
TECHM
967
976
982
992
998
TITAN 1,473 1,499
1,537
1,563
1,602
ULTRACEMCO 6,323 6,375
6,421
6,474
6,520
UPL
524
534
540
549
555
WIPRO
430
433
437
441
444
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Technical & Derivatives Report
February 12, 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 sameet.cha[email protected]g.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit[email protected]ing.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com