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Technical & Derivatives Report
November 12, 2020
Nifty
Bank Out
look
-
28
845
)
Yesterday, once again Bank Nifty started on a positive note
however after the first hour of upmove the prices witnessed profit
booking to enter negative territory. This dip eventually got bought
into similar to the last few sessions and prices maintained its
winning streak to end with gains of 0.84% at 28845.
In our yesterday's outlook, we had mentioned the intraday
indicators are highly overbought and we may see in between
correction. In line with the same prices witnessed intraday
correction however with the ongoing strong uptrend such dips are
getting comfortably bought. Having said that we reiterate, we are
just at the beginning of an uptrend and buying on dips strategy is
playing out well and traders should follow the same. As far as levels
are concerned, immediate support is placed around 28211 and
28000 whereas resistance is at 29082 and 29350 levels.
Key Levels
Support 1 – 28211 Resistance 1 – 29082
Support 2 – 28000 Resistance 2 – 29350
Exhibit 1: Nifty Daily Chart
Se
nsex
(
43
594
/ Nifty
12749
)
Quite similar to the recent trend, our markets started on a positive
note however after the first hour of trading the broader markets
started witnessing profit booking that pulled Nifty lower into the
negative territory. Eventually, this dip got bought into for Nifty to
retest its morning highs and to end with gains of 0.93% tad at 12750.
In our last week's outlook, we had mentioned a bullish Flag pattern
on Nifty with targets of 12700 - 12800 and the said target has been
met. Technically, when prices reach their pattern target levels with
oscillators in the overbought zone, the prices are likely to see some
correction or consolidation. This is what we said yesterday in the
report and exactly the same was witnessed in the first half. Having
said that, with a medium-term view, we believe that it's just the
beginning of mega Bull Run, and 13000 and beyond levels are very
much on cards. In such a scenario, buying on dips for index or having
a stock specific approach will be the right strategy. For the coming
session, immediate support is placed around 12630 - 12550 levels.
As far as sector-specific moves are concerned, the metal counters
continued to shine whereas the auto space showed promising signs
for the near-term future.
.Key Levels
Support 1 – 12630 Resistance 1 – 12860
Support 2 – 12550 Resistance2 – 12900
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
November 12, 2020
Nifty Vs OI
11000
11200
11400
11600
11800
12000
12200
12400
12600
12800
13000
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
10/30 11/2 11/3 11/4 11/5 11/6 11/9 11/10 11/11
(`000)
Openinterest Nifty
Vie
w
s
Our markets started another session on a positive
note, however, the index saw higher volatility as we
witnessed a dip during the day. But fortunately, the
indices resumed the momentum at the end and
closed with gains of about a percent at 12750.
FIIs were net buyers in the cash segment to the tune
of Rs. 6207 crores. In index future segment, they
bought worth Rs. 239 crores with rise in open
interest indicating addition of fresh long positions
in yesterday’s session.
FII continued to buy aggressively in cash segment
and added some longs in index futures as well. The
stronger hands continue with their long positions
and the intraday dip was taken as buying
opportunity. In options segment, 12800-13000
strikes added fresh open interest whereas 12700-
12600 puts too added fresh positions. Traders are
advised to trade with a positive bias and trade with
a buy on dip strategy for the day.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 3.84%
Bank Nifty futures open interest has increased by 3.11%
as market closed at 12749.15 levels.
The Nifty November future closed with a premium of 5.9
point against a premium of 28 point in last trading
session. The December series closed at a premium of 19.3
point.
The INDIA VIX has increased from 21.57 to 22.03.
At the same time, the PCR-OI of Nifty decreased from
1.71 to 1.66.
Few of the liquid counters where we have seen high cost
of carry are IDEA, NATIONALUM, GMRINFRA, SHREECEM
AND BHEL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
PAGEIND 124230 19.10 21729.30 -1.50
SAIL 59261000 18.01 39.60 4.33
BHEL 84147000 17.58 27.95 -1.06
BATAINDIA 1232000 17.15 1327.35 -2.88
BHARATFORG 6900000 16.51 499.75 -4.09
TORNTPOWER 2223000 14.35 310.65 -0.35
ICICIGI 206125 13.85 1265.35 -0.05
HINDALCO 33294900 10.39 204.05 6.30
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
APOLLOHOSP 2124000 -21.64 2195.30 7.28
BAJAJFINSV 1045875 -13.59 6945.05 3.55
ITC 91385600 -13.47 185.30 3.46
IGL 4736875 -9.37 448.30 5.43
BIOCON 11106700 -8.49 417.85 3.18
LT 12727475 -7.69 1059.45 2.16
RBLBANK 21446100 -7.39 205.65 -2.00
HDFCLIFE 10439000 -7.33 623.45 2.15
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.66 0.97
BANKNIFTY 1.37 0.96
RELIANCE 0.53 0.63
ICICIBANK 1.14 0.76
INFY 0.45 0.32
Historical Volatility
SCRIP HV
APOLLOHOSP 53.24
TATASTEEL 54.87
IGL 45.44
LUPIN 46.83
TORNTPHARM 45.12
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Technical & Derivatives Report
November 12, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot =
12749.15
FII Statistics for November 11, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
5745.46
5506.92
238.54
159141
14479.40
6.66
INDEX
OPTIONS
486614.21
486731.98
(117.77) 1037027
91875.06
6.30
STOCK
FUTURES
20477.85
20870.00
(392.15) 1288079
93654.49
0.96
STOCK
OPTIONS
9536.51
9515.40
21.11
86412
6370.96
4.77
Total 522374.03
522624.30
(250.27) 2570659
206379.91
3.53
Turnover on November 11, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 6,80,993 54127.67 6.99
Index
Options
4,18,16,477
33,59,306.20
37.73
Stock Futures 10,89,280 81219.47 0.58
Stock
Options
18,35,068 1,43,545.48 0.05
Total 4,54,21,818
36,38,198.82
34.06
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12800 169.50
45.30 54.70 12845.30
Sell 12900 124.20
Buy 12800 169.50
81.50 118.50 12881.50
Sell 13000 88.00
Buy 12900 124.20
36.20 63.80 12936.20
Sell 13000 88
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12700 166.20
35.50 64.50 12664.50
Sell 12600 130.70
Buy 12700 166.20
64.20 135.80 12635.80
Sell 12500 102.00
Buy 12600 130.70
28.70 71.30 12571.30
Sell 12500 102
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
12000 12100 12200 12300 12400 12500 12600 12700 12800 12900 13000 13100 13200 13300
Call Put
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Technical & Derivatives Report
November 12, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
363
367
370
374
377
ASIANPAINT 2,122 2,152
2,187
2,217
2,253
AXISBANK
564
586
599
621
633
BAJAJ-AUTO 2,963 2,993
3,017
3,047
3,070
BAJFINANCE 3,982 4,125
4,277
4,421
4,573
BAJAJFINSV 6,445 6,695
6,836
7,086
7,228
BPCL
375
384
391
401
408
BHARTIARTL
457
468
475
485
492
BRITANNIA 3,407 3,450
3,496
3,539
3,584
CIPLA
709
725
735
752
762
COALINDIA
123
124
125
127
128
DIVISLAB 3,246 3,299
3,336
3,390
3,426
DRREDDY 4,602 4,742
4,831
4,971
5,060
EICHERMOT 2,183 2,255
2,294
2,366
2,405
GAIL
89
91
93
95
97
GRASIM
782
793
801
811
819
HCLTECH
796
811
820
835
844
HDFCBANK 1,347 1,369
1,392
1,413
1,436
HDFCLIFE
609
616
622
629
634
HDFC 2,247 2,286
2,311
2,350
2,375
HEROMOTOCO 2,908 2,984
3,029
3,106
3,151
HINDALCO
185
195
201
211
218
HINDUNILVR 2,091 2,111
2,125
2,145
2,159
ICICIBANK
465
476
483
494
502
IOC
82
84
84
86
87
INDUSINDBK
707
747
793
834
880
INFY 1,073 1,098
1,112
1,137
1,151
ITC
176
181
183
188
191
JSW STEEL
327
335
340
348
353
KOTAKBANK 1,737 1,772
1,795
1,831
1,854
LT 1,006 1,033
1,048
1,074
1,089
M&M
611
622
633
644
656
MARUTI 6,687 6,772
6,838
6,923
6,989
NESTLEIND 16,314
16,506
16,667
16,859
17,020
NTPC
91
92
93
94
95
ONGC
70
71
72
73
74
POWERGRID
181
185
188
192
195
RELIANCE 1,907 1,952
2,023
2,069
2,140
SBILIFE
824
832
839
847
855
SHREECEM 22,109
22,488
22,809
23,188
23,509
SBIN
222
228
234
240
245
SUNPHARMA
486
496
502
512
518
TCS 2,625 2,657
2,675
2,706
2,724
TATAMOTORS
144
147
149
153
155
TATASTEEL
426
450
464
488
501
TECHM
802
820
830
848
858
TITAN 1,231 1,253
1,286
1,308
1,341
ULTRACEMCO 4,670 4,747
4,801
4,878
4,933
UPL
422
429
436
443
450
WIPRO
339
343
345
349
352
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Technical & Derivatives Report
November 12, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]lbroking.com
For Derivatives Queries E-mail: deri[email protected]
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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.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com