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Technical & Derivatives Report
March 13, 2020
Nifty Bank Outlook
-
(
)
Bank Nifty as well witnessed a big gap down opening and with
sell-off throughout the session ended with deep cuts of 13.78% at
23971.
The momentum is strongly gripped by the bears and one should
refrain from trying to catch the falling knife. As mentioned above,
no support levels are working in such volatile conditions and
hence one should wait for the volatility to reduce or for some
signs of reversal before re-entering the markets.
Key Levels
Support 1 – 23200 Resistance 1 – 24500
Support 2 – 22800 Resistance 2 – 25125
Sensex (
32778)
/ Nifty
(
9590
)
The impact of Coronavirus continues to haunt financial markets
across the globe. Yesterday morning, the Dow Jones Futures were
trading in deep red as W.H.O declared Coronavirus a pandemic.
In line with the same, our markets too witnessed a big gap down
opening and with the panic selloff seen in all the sectors
throughout the session; the Nifty ended with deep cuts of around
8.30% at 9590.
A few weeks back, Nifty was trading comfortably above 12000
levels and in no time has swiftly moved back into the four-digit
category. The market is in fierce mode and yesterday butchering
was seen across the board pulling Index to the multi-year lows.
The current conditions are very hostile and one should stay away
from the markets until there are some signs of a reduction in
volatility or some signs of base formation or reversal. In such wild
moving phase it’s difficult to mention any levels especially the
support levels which are broken with ease. Going ahead, the
market direction will continue to be dictated by the updates of
coronavirus and we will have a wait and watch approach for the
tide to settle before re-entering the markets.
Key Levels
Support 1 – 9119 Resistance 1 – 9790
Support 2 – 9000 Resistance 2 – 10000
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
March 13, 2020
Nifty Vs OI
0
2000
4000
6000
8000
10000
12000
14000
,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
Views
The WHO declated Coronavirus as a pandemic which
led to a huge sell-off in the global indices. This had a
impact on our markets too and hence we started
yesterday's session with another gap down opening.
We had a sharp sell off then throughout the day and
we ended the day with a whopping loss of over 8
percent on the Nifty at 9600.
FIIs were net sellers in the cash market segment to the
tune of Rs. 3475 crores. In index futures, they sold
worth Rs. 14.10 crores with decrease in open interest,
and thus had muted action in yesterday’s session.
Similar to what we heve been seeing since last days,
FII's continued their selling streak in the cash segment.
The index breached the support level of 10000 post the
gap down opening and it was a catostrophic correction
then throughout the day. Since last few day's we have
been advising traders to stay on the sidelines as the
short term trend is negative and the volatiltity is high.
The VIX has surpassed the level of 40, the highest in
last one decade and hence, one should avoid taking
any undue risk.
Comments
The Nifty futures open interest has decreased by 3.05%
Bank Nifty futures open interest has decreased by 3.64%
as market closed at 9590.15 levels.
The Nifty March future closed with a discount of 10.15
points against a discount of 3.40 points in last trading
session. The April series closed at a premium of 43.85
points.
The INDIA VIX has increased from 31.55 to 41.16.
At the same time, the PCR-OI of Nifty has decreased
from 1.07 to 0.90.
Few of the liquid counters where we have seen high cost
of carry are IDEA, HDFCLIFE, NMDC, OIL and
JUSTDIAL.
OI
Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TCS 13725750 31.80 1769.85 -9.64
EICHERMOT 276630 26.19 16877.90 -5.01
JUBLFOOD 3403000 20.35 1474.10 -12.27
PVR 2184400 19.92 1355.55 -12.27
TATACHEM 1557900 15.25 265.85 -9.84
MOTHERSUMI 32630000 12.97 67.90 -23.03
NAUKRI 479600 12.64 2364.10 -7.86
MINDTREE 1953600 12.28 815.95 -6.85
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GLENMARK 5171600 -29.95 199.20 -23.50
APOLLOTYRE 11508000 -24.04 100.15 -13.34
AMARAJABAT 1420000 -23.52 558.20 -8.17
BPCL 20032200 -20.27 344.35 -16.25
CHOLAFIN 5065000 -18.04 243.15 -7.25
IBULHSGFIN 18826800 -17.77 163.55 -19.37
GMRINFRA 160065000 -17.64 15.85 -13.35
TATAPOWER 51804000 -17.22 40.35 5.80
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.90 0.81
BANKNIFTY 0.44 0.68
RELIANCE 0.35 0.47
ICICIBANK 0.40 0.68
INFY 0.45 0.71
Historical Volatility
SCRIP HV
GLENMARK 138.52
ADANIPOWER 160.52
UPL 80.04
DIVISLAB 61.81
HDFCBANK 48.00
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Technical & Derivatives Report
March 13, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot
=
9590.15
Lot Size = 75
FII
Statistics
for March
12
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
12632.89
12646.99
(14.10) 249206
16677.72
(0.09)
INDEX
OPTIONS
489939.26
489798.59
140.67
878069
60985.97
(7.52)
STOCK
FUTURES
23597.39
22729.43
867.96
1530532
78759.43
2.79
STOCK
OPTIONS
6630.51
6746.85
(116.34) 78176
4004.41
9.99
Total 532800.05
531921.86
878.19
2735983
160427.53
(0.83)
Turnover
on March
12
,
20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 973769 60762.91 55.00
Index Options 41138706 2453327.42 89.70
Stock Futures 1312461 65689.42 27.39
Stock Options 918408 53198.70 29.03
Total 4,43,43,344
2632978.45 84.74
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
9600 383.35
59.35 40.65 9659.35
Sell 9700 324.00
Buy 9600 383.35
111.90 88.10 9711.90
Sell 9800 271.45
Buy 9700 324.00
52.55 47.45 9752.55
Sell 9800 271.45
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9600 438.05
43.40 56.60 9556.60
Sell 9500 394.65
Buy 9600 438.05
78.70 121.30 9521.30
Sell 9400 359.35
Buy 9500 394.65
35.30 64.70 9464.70
Sell 9400 359.35
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
9000
9100
9200
9300
9400
9500
9600
9700
9800
9900
10000
10100
10200
10300
Call Put
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March 13, 2020
Da
ily
Pivot
Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 273 280
291 298 309
ASIANPAINT 1,785 1,814
1,844 1,874 1,904
AXISBANK 489 516
555 582 621
BAJAJ-AUTO 2,182 2,260
2,398 2,476 2,614
BAJFINANCE 3,502 3,618
3,744 3,860 3,986
BAJAJFINSV 7,025 7,231
7,607 7,813 8,189
BPCL 294 319
356 381 418
BHARTIARTL 446 456
469 478 491
INFRATEL 200 211
218 228 235
BRITANNIA 2,671 2,741
2,855 2,925 3,039
CIPLA 378 386
399 408 421
COALINDIA 143 149
156 162 169
DRREDDY 2,700 2,775
2,879 2,954 3,058
EICHERMOT 16,372 16,625
16,953 17,206 17,535
GAIL 73 76
83 86 92
GRASIM 520 540
575 595 630
HCLTECH 461 477
503 519 544
HDFCBANK 958 990
1,035 1,066 1,111
HDFC 1,780 1,828
1,909 1,957 2,038
HEROMOTOCO 1,708 1,808
1,893 1,993 2,079
HINDALCO 111 116
123 127 135
HINDUNILVR 1,979 2,017
2,070 2,109 2,162
ICICIBANK 399 412
429 442 459
IOC 83 86
90 92 96
INDUSINDBK 734 759
796 821 857
INFY 600 616
643 658 685
ITC 140 148
159 166 177
JSW STEEL 190 197
206 212 221
KOTAKBANK 1,259 1,362
1,454 1,557 1,650
LT 964 990
1,030 1,056 1,096
M&M 383 403
420 440 456
MARUTI 5,329 5,486
5,713 5,870 6,096
NESTLEIND 14,660 15,113
15,498 15,951 16,336
NTPC 89 92
96 98 103
ONGC 58 60
64 67 71
POWERGRID 156 161
170 174 183
RELIANCE 1,019 1,041
1,071 1,093 1,123
SBIN 194 204
218 227 241
SUNPHARMA 332 343
358 370 384
TCS 1,662 1,716
1,812 1,866 1,962
TATAMOTORS 78 83
89 94 100
TATASTEEL 258 273
282 297 307
TECHM 606 628
659 681 712
TITAN 1,009 1,043
1,098 1,132 1,188
ULTRACEMCO 3,445 3,554
3,722 3,832 4,000
UPL 381 412
466 498 552
VEDANTA 74 77
81 84 88
WIPRO 192 195
201 205 211
YESBANK 12 19
24 30 35
ZEEL 182 186
193 197 204
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Technical & Derivatives Report
March 13, 2020
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.com
For Technical Queries E-mail: technicalresearch-[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.desk@angelbroking.com
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