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March 12, 2021
Technical & Derivatives Report
Nifty
Bank Out
-
(
35938)
Following the positive momentum from the previous session, the
bank nifty index started with a gap up opening however there was
no follow-up buying, and the bank nifty remained in a range to
eventually end with marginal gains of 0.20% at 35938.
If we meticulously observe the daily chart, the bank index for the
past one month is trading in a 'Descending Triangle' pattern and
after bouncing from the lower side of this pattern the prices have
now reached the higher side of this pattern. Currently, the dynamic
level of this pattern is placed at 36500 and 34600 and as the
trading range of this pattern is getting coiled one can expect a
breakout from this pattern in the very near term. The pattern
breakout can trigger the next directional move and till then traders
are advised to have a stock-specific approach from this basket with
a proper exit setup.
Key Levels
Support 1 – 35400 Resistance 1 – 36500
Support 2 – 35300 Resistance 2 – 36700
Exhibit 1: Nifty Daily Chart
Sensex (51280) / Nifty (15175)
Now a days it’s very common to have a gap up opening in our
market and on Wednesday too, we started with more than half a
percent gains around 15200. In the first half, index cooled off a bit
to fill the entire opening gap. However, post the mid-session, the
buying once again resumed at lower levels to conclude the weekly
expiry convincingly around the 15200 mark.
The overall undertone has been bullish; but the momentum is clearly
lacking in all key indices. As far as levels are concerned, 15220
15275 are to be seen as immediate hurdles. If index has to gain any
momentum in the upward direction, it is possible only after
surpassing the above mentioned resistance zone. On the flipside,
15100 14925 are the levels to watch out for. With a near term view,
we still remain a bit sceptical and hence, advise traders to avoid
aggressive bets even if Nifty manages to breakout on the higher side.
Despite indices are stuck in a range, the individual stocks are still
providing better trading opportunities but going ahead, one needs
to be very selective in stock picking as well.
Exhibit 2: Nifty Bank Daily Chart
In our sense, the overall intraday range has shrunk considerably and
hence, very soon we are likely to see a breakout on either side from
this consolidation phase. Sectorally, IT and Auto space kept buzzing
throughout the day; whereas the banking had a muted session after
Tuesday’s outperforming moves. Also, the broader end of the
spectrum saw some bounce back after undergoing some profit
booking in last couple of sessions.
Key Levels
Support 1 – 15100 Resistance 1 – 15220
Support 2 – 14925 Resistance2 – 15275
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Technical & Derivatives Report
March 12, 2021
Nifty Vs OI
14000
14200
14400
14600
14800
15000
15200
15400
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
2/19 2/23 2/25 3/1 3/3 3/5 3/9
(`000)
Openinterest Nifty
View
Nifty opened on a positive note around 15200 mark in
Wednesday's session. We witnessed an intraday dip
upto 15100 but again it witnessed upmove in the later
half to end the day with gains of about half a percent
.
FIIs were net sellers in the cash segment to the tune of
Rs. 16 crores. In Index Future segment, the activity was
muted as they bought worth Rs. 88 crores with
decrease in open interest.
Ahead of the mid-week holiday, we witnessed some
positive momentum on back of positive global cues.
However, we did not see any fresh build-up in
positions in both the indices. The activity was muted
from the stronger hands too and the open interest
build up in the coming weekly series is light. Thus,
fresh build up going ahead would then lead to next
directional move. However, the monthly data of March
series indicates support around 15000 and resistance
around 15500
.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 1.74%
Bank Nifty futures open interest was flat as it increased
marginally by 0.03% as market closed at 15174.80 levels.
The Nifty March future closed with a premium of 34.5
point against a premium of 36.35 point in last trading
session. The April series closed at a premium of 104.80
point.
The INDIA VIX decreased from 22.50 to 20.74.
At the same time, the PCR-OI of Nifty increased from 1.11
to 1.12.
Few of the liquid counters where we have seen high cost
of carry are BANKBARODA, IDEA, FEDERALBNK, ALKEM,
AND APOLLOTYRE.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LTI 277200 81.35 4129.05 5.81
LTTS 444600 43.23 2759.85 0.71
ALKEM 226400 29.37 2739.80 -1.07
MPHASIS 241475 18.88 1646.60 3.31
MINDTREE 1611200 15.15 1892.45 5.04
BHEL 122892000 10.46 54.80 -0.18
ASHOKLEY 49545000 8.86 123.90 0.44
COFORGE 365625 7.85 2734.10 5.62
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TRENT 480675 -8.55 912.25 0.55
RECLTD 16698000 -7.17 151.20 2.59
CADILAHC 10527000 -6.83 448.40 1.34
AUBANK 1055000 -6.80 1253.30 1.19
HINDUNILVR 7851000 -6.74 2227.85 1.30
WIPRO 38153600 -6.38 426.70 1.60
PAGEIND 67740 -5.96 28328.05 1.97
CHOLAFIN 4645000 -5.69 539.40 -0.31
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.12 0.93
BANKNIFTY 0.81 0.88
RELIANCE 0.40 0.44
ICICIBANK 0.46 0.53
INFY 0.68 0.35
Historical Volatility
SCRIP HV
LTI 50.33
MINDTREE 54.03
COFORGE 61.05
SBILIFE 42.88
MPHASIS 47.74
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Technical & Derivatives Report
March 12, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot =
15174.80
FII Statistics for March 10, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3490.76
3403.26
87.50
129841
14103.28
(2.68)
INDEX
OPTIONS
689855.38
684433.44
5421.94
743271
81237.02
(25.31)
STOCK
FUTURES
10071.23
10236.83
(165.60) 1174052
103393.52
(0.89)
STOCK
OPTIONS
11413.57
11396.29
17.28
159728
13937.73
2.97
Total 714830.94
709469.82
5361.12
2206892
212671.55
(10.59)
Turnover on March 10, 2021
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 2,67,891 26852.66 -35.70
Index Options
7,21,77,644
70,57,161.99 58.86
Stock Futures 5,53,682 52253.02 -19.14
Stock Options
12,45,599
1,19,521.17 -13.86
Total 7,42,44,816
72,55,788.84 54.79
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15200 255.50
54.25 45.75 15254.25
Sell 15300 201.25
Buy 15200 255.50
101.40 98.60 15301.40
Sell 15400 154.10
Buy 15300 201.25
47.15 52.85 15347.15
Sell 15400 154.10
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15200 247.80
40.05 59.95 15159.95
Sell 15100 207.75
Buy 15200 247.80
75.30 124.70 15124.70
Sell 15000 172.50
Buy 15100 207.75
35.25 64.75 15064.75
Sell 15000 172.50
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700 15800
Call Put
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Technical & Derivatives Report
March 12, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
733
739
749
755
765
ASIANPAINT 2,401 2,416
2,431
2,447
2,462
AXISBANK
742
751
759
768
775
BAJAJ-AUTO 3,773 3,820
3,850
3,897
3,927
BAJFINANCE 5,394 5,470
5,515
5,591
5,636
BAJAJFINSV 9,841 9,916
10,006
10,081
10,170
BPCL
437
441
446
451
456
BHARTIARTL
510
518
524
532
538
BRITANNIA 3,419 3,450
3,469
3,500
3,520
CIPLA
796
804
809
818
823
COALINDIA
147
149
151
153
155
DIVISLAB 3,456 3,492
3,518
3,554
3,580
DRREDDY 4,428 4,464
4,492
4,528
4,556
EICHERMOT 2,565 2,618
2,653
2,707
2,741
GAIL
145
146
149
150
152
GRASIM 1,349 1,367
1,378
1,396
1,407
HCLTECH
972
980
988
996
1,003
HDFCBANK 1,538 1,547
1,561
1,570
1,584
HDFCLIFE
713
722
734
743
755
HDFC 2,568 2,584
2,597
2,613
2,625
HEROMOTOCO 3,367 3,393
3,434
3,460
3,501
HINDALCO
326
333
338
345
350
HINDUNILVR 2,176 2,202
2,219
2,245
2,263
ICICIBANK
617
621
626
630
635
IOC
97
98
100
101
103
INDUSINDBK 1,017 1,029
1,044
1,056
1,071
INFY 1,347 1,357
1,366
1,376
1,385
ITC
204
205
207
209
211
JSW STEEL
399
407
411
418
423
KOTAKBANK 1,931 1,948
1,974
1,990
2,016
LT 1,495 1,510
1,522
1,537
1,549
M&M
837
850
863
876
889
MARUTI 7,167 7,220
7,303
7,356
7,439
NESTLEIND 16,690
16,811
16,905
17,026
17,120
NTPC
108
109
110
111
111
ONGC
112
113
115
116
118
POWERGRID
211
213
216
218
221
RELIANCE 2,144 2,163
2,189
2,208
2,234
SBILIFE
912
927
950
965
988
SHREECEM 27,123
27,339
27,517
27,733
27,910
SBIN
382
385
389
392
396
SUNPHARMA
611
618
623
631
636
TCS 3,042 3,056
3,075
3,089
3,108
TATAMOTORS
313
317
321
325
329
TATASTEEL
692
708
719
735
746
TECHM
982
996
1,006
1,019
1,030
TITAN 1,454 1,463
1,472
1,481
1,490
ULTRACEMCO 6,641 6,702
6,746
6,807
6,851
UPL
603
612
621
630
640
WIPRO
419
423
427
431
435
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Technical & Derivatives Report
March 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]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