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Technical & Derivatives Report
March 12, 2020
Nifty Bank Outlook
-
(
26489
)
Post the mid-week holiday, BankNifty opened marginally
negative but recovered from the low and then traded in a narrow
range to end with negligible gains.
The index traded within the previous sessions range yesterday
and ended the day on a flat note. While the private sector
heavyweights saw some pullback, the PSU Banks continued their
underperformace and the Nifty PSU Bank index ended with a loss
over 3 percent at its historical low. As of now, the trend
continues to be negative, but owing to the oversold momentum
set ups, there could be in between pullbacks or consolidation.
Traders are advsied to avoid the underperforming names from
this sector and be selective in case of any intraday pullbacks
seen. The immediate supports for the BankNifty are placed
around 26200 and 25900 whereas resistances are seen around
26800 and 26935.
Key Levels
Support 1 – 26200 Resistance 1 – 26800
Support 2 – 25900 Resistance 2 – 26935
Sensex (35697) / Nifty (10458)
We have witnessed so many corrections in last 10-12 years, but
the kind of volatility and ferocity we are seeing across the globe,
it seems quite abnormal. In hindsight, it appears easy trading the
range, but the sudden wild swings during the day can become
nightmare for traders on few occasions. After one day gap, we
opened lower as Dow futures were trading deeply in the red
early this morning. However, a decent recovery from lows and a
range bound activity thereafter resulted into a flat close for our
benchmark index.
If we take a glance at our markets at the close, one would say
there was no further damage in the market. But practically it
does not portray the real picture. Despite major indices closing
in the flat terrain, the brutality is still visible in number of stocks.
Although, we are deeply oversold, everyone is just clueless and
have no idea when this hammering is going to stop. Obviously,
the market is irrational at times and in such kind of phases, no
theory of overbought or oversold works. In our sense, traders
should adopt a wait n watch approach and even if one wants to
trade, avoid leveraged trades and try to get out as early as
possible. For patient investors, we reiterate that such sharp
declines are opportunities to add marquee names in the
portfolio in a staggered manner.
Exhibit 1:
Nifty
Daily
Chart
Exhibit 2:
Nifty Bank
Daily
Chart
As far as levels are concerned,
10300
10200
remains to be
the support zone and on the flipside, 10600 10751 can be
seen as immediate hurdles.
Key Levels
Support 1 – 10300 Resistance 1 – 10600
Support 2 – 10200 Resistance 2 – 10751
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Technical & Derivatives Report
March 12, 2020
Nifty Vs
OI
9500
10000
10500
11000
11500
12000
12500
,0
5,000
10,000
15,000
20,000
25,000
2/12 2/14 2/18 2/20 2/25 2/27 3/2 3/4 3/6 3/11
(`000)
Openinterest Nifty
V
ie
ws
The indices consolidated within a range in
yesterday's session and ended on a flat note. During
the day, the Nifty futures traded with a decent
discount till noon but it narrowed significantly in
the last hour of the trade.
FIIs were net sellers in the cash market segment to the
tune of Rs. 3515 crores. In index futures, they bought
worth Rs. 1216 crores with increase in open interest,
indicating marginal longs along with some short
covering in yesterday’s session. However, most of their
index futures open positions are on the short side.
FII's continue to sell in the cash segment wherein they
have sold equities worth Rs. 20821 crores in this
calendar month so far. In index futures segment,
majority of their positions continue to be on the short
side. The INDIA VIX continued to rise and ended at
31.55. There we no fresh signs of any directional
change seen yesterday and hence, the near term
outlook continues to be negative. The immediate
support as per options data is placed around 10000
and how the index behaves at this mark needs to be
seen. Hence, we continue with our advice for traders to
stay light on positions.
Comments
The Nifty futures open interest has decreased by 1.10%
Bank Nifty futures open interest has increased by
15.49% as market closed at 10458.40 levels.
The Nifty March future closed with a discount of 3.40
points against a discount of 4.45 points in last trading
session. The April series closed at a premium of 50.60
points.
The INDIA VIX has increased from 30.80 to 31.55.
At the same time, the PCR-OI of Nifty has increased
from 1.04 to 1.07.
Few of the liquid counters where we have seen high cost
of carry are IDEA, NAUKRI, NMDC, BERGERPAINT and
OIL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TCS 10413750 26.67 1953.80 -0.43
PVR 1821600 21.54 1530.90 -3.58
PIDILITIND 2665000 20.53 1699.85 3.11
MINDTREE 1740000 18.46 891.15 -4.03
TATASTEEL 28336500 15.73 299.75 -7.06
NIITTECH 688500 14.04 1625.90 -2.03
HDFCLIFE 2571300 10.48 513.55 -0.76
JUBLFOOD 2827500 10.36 1643.30 -1.01
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPOWER 3081000 -12.82 307.35 -0.49
MANAPPURAM 21972000 -9.83 144.95 1.40
IBULHSGFIN 22894800 -7.85 195.55 -10.13
CENTURYTEX 2393400 -6.91 485.10 -0.98
INDIGO 3054300 -6.29 1160.00 -4.24
COALINDIA 38140200 -5.76 168.00 6.00
MFSL 3025100 -5.25 501.70 0.22
INFRATEL 8812000 -5.21 224.75 7.91
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.07 0.76
BANKNIFTY 0.67 0.73
RELIANCE 0.39 0.42
ICICIBANK 0.48 0.60
INFY 0.46 0.64
Histori
cal Volatility
SCRIP HV
GAIL 75.13
BERGEPAINT 35.31
APOLLOTYRE 76.64
NCC 103.29
CESC 42.06
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Technical & Derivatives Report
March 12, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot
=
10458.40
Lot Size = 75
FII
Statistics
for March
11
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
8974.08
7757.97
1216.11
249429
18399.65
1.15
INDEX
OPTIONS
315768.39
316192.68
(424.29) 949488
70729.94
4.78
STOCK
FUTURES
17969.64
17540.24
429.40
1488957
84523.00
1.40
STOCK
OPTIONS
4164.41
4205.96
(41.55) 71077
4079.34
7.08
Total 346876.52
345696.85
1179.67
2758951
177731.93
2.66
Turnover on March
11
,
20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 594022 39201.28 -20.15
Index Options 20136614 1293248.28 28.69
Stock Futures 940481 51566.82 -13.67
Stock Options 695669 41230.66 -27.51
Total 2,23,66,786 1425247.04 21.75
Bull
-
Call
Spreads
Action Strike Price Risk Reward BEP
Buy 10500 249.55
52.90 47.10 10552.90
Sell 10600 196.65
Buy 10500 249.55
98.20 101.80 10598.20
Sell 10700 151.35
Buy 10600 196.65
45.30 54.70 10645.30
Sell 10700 151.35
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 10400 261.10
34.15 65.85 10365.85
Sell 10300 226.95
Buy 10400 261.10
62.90 137.10 10337.10
Sell 10200 198.20
Buy 10300 226.95
28.75 71.25 10271.25
Sell 10200 198.20
Nifty
Put
-
Call
Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000 11100 11200 11300
Call Put
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Technical & Derivatives Report
March 12, 2020
Daily Pivot Levels for Nifty Constituents
Scrips S2 S1
PIVOT
R1
R2
ADANIPORTS 311 315
321 326
331
ASIANPAINT 1,826 1,855
1,880 1,908 1,933
AXISBANK 600 610
622 632
644
BAJAJ-AUTO 2,527 2,560
2,595 2,627 2,662
BAJFINANCE 3,911 3,971
4,045 4,105 4,179
BAJAJFINSV 7,991 8,122
8,260 8,391 8,529
BPCL 387 396
410 418
432
BHARTIARTL 475 484
496 506
518
INFRATEL 200 212
219 232
239
BRITANNIA 2,898 2,973
3,019 3,095 3,141
CIPLA 402 409
418 425
434
COALINDIA 152 160
165 173
178
DRREDDY 2,922 2,961
3,023 3,062 3,123
EICHERMOT 17,096 17,425
17,846 18,175 18,596
GAIL 85 88
93 95
100
GRASIM 603 614
627 639
652
HCLTECH 503 520
531 548
560
HDFCBANK 1,081 1,097
1,109 1,125 1,137
HDFC 1,923 1,980
2,027 2,083 2,131
HEROMOTOCO
1,911
1,973
2,012
2,074
2,112
HINDALCO 134 136
139 141
144
HINDUNILVR 2,027 2,091
2,130 2,194 2,234
ICICIBANK 440 453
462 475
484
IOC 92 95
97 100
102
INDUSINDBK 792 823
876 907
960
INFY 657 671
684 698
711
ITC 171 173
175 177
179
JSW STEEL 216 220
224 228
232
KOTAKBANK 1,517 1,553
1,579 1,615 1,641
LT 1,073 1,095
1,108 1,130 1,143
M&M 437 444
457 464
477
MARUTI 5,981 6,064
6,187 6,270 6,393
NESTLEIND 15,580 15,814
16,007 16,241 16,434
NTPC 100 101
103 105
106
ONGC 67 69
73 76 80
POWERGRID 174 178
181 184
188
RELIANCE 1,076 1,115
1,147 1,185 1,217
SBIN 234 239
249 255
264
SUNPHARMA 372 379
387 394
402
TCS 1,886 1,920
1,954 1,987 2,021
TATAMOTORS 92 96
101 104
110
TATASTEEL 277 289
307 319
337
TECHM 648 678
696 726
744
TITAN 1,157 1,172
1,193 1,208 1,229
ULTRACEMCO 3,874 3,933
4,023 4,083 4,172
UPL 487 502
513 528
539
VEDANTA 89 90
93 95 97
WIPRO 200 206
210 217
221
YESBANK 21 25
27 31 34
ZEEL 178 194
204 220
230
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Technical & Derivatives Report
March 12, 2020
*
Research Team Tel: 022
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cso@angelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]gelbroking.com
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