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Technical & Derivatives Report
April 13, 2020
Sensex (31160) / Nifty (9112)
After an extended weekend, our markets kick started the new
trading week on Tuesday with a decent bump up of more than
300 points. This was mainly on the back of a strong relief move
seen in US markets as the death toll with respect to coronavirus
reduced a bit and thereby gave early signs of subsiding this
pandemic. Although, the close was muted on Wednesday,
markets compensated well by yet another gap up opening on
the subsequent day. In fact, the buying momentum accelerated
in the latter half to conclude the week well above the 9000 mark.
Looking at the colossal rally of more than 12% on a weekly basis,
who would believe that it was a truncated week and in merely 3
trading sessions, the Nifty is convincingly beyond 9000. As far as
the coronavirus pandemic is concerned, in reality, we are still not
out of the woods yet. But market mostly moves on hope or
anticipation, this is clearly one of those instances. Practically, the
major impact of this epidemic has already been discounted by
markets across the globe in last few weeks and there was just a
small ray of hope needed to rebound sharply from extreme
oversold or under owned situations. With this, previous Friday’s
decline becomes a bear trap as we are significantly off lows now
before anyone could realise.
Key Levels
Support 1 – 8900 Resistance 1 – 9500
Support 2 – 8650 Resistance 2 – 9700
Nifty Bank Outlook - (19914)
Bank Nifty as well started with a gap up opening on Thursday.
Subsequently, in the first half of the session, it underperformed
however in the second half it matched pace with the broader
markets and ended with gains of 5.10% and 15.45% against the
previous week close at 19914.
It was a broad-based buying of stocks from the banking basket
as Pvt heavyweights as well as PSU banks participated in the
upmove. On the daily chart, we are witnessing a minor higher
bottom and going with the flow we sense the recent relief rally
to continue towards 20600 and 21460 levels. On the flip side,
19166 and 18480 are the support zone. Traders are advised to
have a stock-specific approach with proper exit setup.
Key Levels
Support 1 – 19166 Resistance 1 – 20600
Support 2 – 18480 Resistance 2 – 21460
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Technically speaking, the Nifty has now managed to surpass the
‘20-day EMA’ for the first time since 24th February. Since there
was a complete broad based participation in this move, it can be
considered as a robust one. Looking at the way charts are shaped
up, we will not be surprised to see this rally getting extended
towards 9500-9700 over the next few days. However, one must
not forget that the recent crisis is related to ‘Health’ and hence, it
would be important to see further developments with respect to
coronavirus. If no aberration seen then the above mentioned
levels are very much on cards. On the flipside, 8900 followed by
8650 would be seen as key supports. Traders are advised to keep
following stock centric approach and should keep booking timely
profits on a regular basis.
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Technical & Derivatives Report
April 13, 2020
Nifty Vs OI
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
10000
,0
5,000
10,000
15,000
20,000
25,000
3/203/233/243/253/263/273/303/31 4/1 4/3 4/7 4/8 4/9
(`000)
Openinterest Nifty
View
s
On Thursday, Nifty witnessed a gap up opening and
with positive momentum throughout the day ended
with gains of 4.15% at 9111.90
.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1738 crores. In index futures they bought
worth 755 crores with increase in open interest
indicating fresh long positions created on Thursday.
During the week, the Nifty index rallied by over 12
percent with rise in open interest by 8 percent whereas
Bank Nifty rallied by 15 percent with rise in open
interest by 15.74 percent. FII’s covered some of their
short positions and formed fresh long positions in the
index futures segment. Their ‘Long Short Ratio’ which
was 28 percent on last Friday has now moved to 44
percent. We witnessed open interest addition in put
options as the market rallied and India VIX corrected
during the week to end below the 50 mark. The above
data clearly indicates short covering along with fresh
long formation was seen during this week. In this
week, we could see continuation of this momentum
upto 9400-9500. The immediate support for Nifty is
placed around 8800 followed by 8500.
C
om
me
n
t
s
The Nifty futures open interest has increased by 8.83%
Bank Nifty futures open interest has increased by 14.69
% as market closed at 9111.9 levels.
The Nifty April future closed with a discount of 25.2
points against a premium of 1.80 points in last trading
session. The May series closed at a discount of 10.8
points.
The INDIA VIX has decreased from 52.24 to 49.74.
At the same time, the PCR-OI of Nifty has increased
from 1.31 to 1.53.
Few of the liquid counters where we have seen high cost
of carry are, GODREJPROP, BHEL, EQUITAS, ADANIENT
and ADANIPOWER.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LUPIN 8616300 31.23 790.00 12.02
CANBK 8190000 20.37 91.80 5.48
TVSMOTOR 3014550 18.52 305.80 6.53
MRF 15240 17.50 60019.35 5.10
EICHERMOT 266250 16.64 13741.20 4.49
EQUITAS 7212800 14.55 40.20 7.56
KOTAKBANK 8910400 13.20 1273.10 5.84
MANAPPURAM 10692000 13.14 112.05 4.40
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
RAMCOCEM 499200 -16.69 495.05 7.69
JINDALSTEL 11360000 -14.49 91.60 7.95
CHOLAFIN 4162500 -13.86 171.75 13.77
UJJIVAN 1589500 -12.86 154.75 7.66
GLENMARK 2485000 -12.30 247.65 5.54
MINDTREE 800000 -9.34 733.80 1.21
NIITTECH 317625 -8.92 1110.85 5.07
DRREDDY 1977500 -7.85 3621.45 -1.25
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.53 0.88
BANKNIFTY 1.43 0.82
RELIANCE 1.00 0.69
ICICIBANK 0.83 0.74
INFY 0.69 0.55
Historical Volatility
SCRIP HV
M&M 126.10
CIPLA 99.82
LUPIN 95.15
LICHSGFIN 122.22
MOTHERSUMI 157.12
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Technical & Derivatives Report
April 13, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot
=9111.90
FII Statistics for April 09, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
7810.96
7056.27
754.69
144108
8986.25
7.97
INDEX
OPTIONS
274716.34
273953.42
762.92
447301
29842.73
(14.65)
STOCK
FUTURES
13739.20
13241.81
497.39
1426635
70119.70
0.43
STOCK
OPTIONS
813.36
821.60
(8.24) 21828
1020.88
5.14
Total 297079.86
295073.10
2006.76
2039872
109969.56
(2.81)
Turnover on April 09, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 6,72,188 35301.46 -23.50
Index Options 3,43,44,572
16,86,677.40 61.71
Stock Futures 8,61,732 42257.74 -11.08
Stock Options 4,64,598 24235.41 -4.78
Total 3,63,43,090
17,88,472.01 53.89
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9100 385.00
55.35 44.65 9155.35
Sell 9200 329.65
Buy 9100 385.00
106.95 93.05 9206.95
Sell 9300 278.05
Buy 9200 329.65
51.60 48.40 9251.60
Sell 9300 278.05
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9100 398.15
40.65 59.35 9059.35
Sell 9000 357.50
Buy 9100 398.15
75.05 124.95 9024.95
Sell 8900 323.10
Buy 9000 357.50
34.40 65.60 8965.60
Sell 8900 323.10
Nifty Put-Call Analysis
,0
200,000
400,000
600,000
800,000
1000,000
1200,000
1400,000
1600,000
1800,000
8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700 9800 9900 10000
Call Put
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Technical & Derivatives Report
April 13, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
244
248
251
255
258
ASIANPAINT 1,590 1,621
1,650
1,681
1,710
AXISBANK
390
405
414
429
438
BAJAJ-AUTO 2,182 2,309
2,417
2,544
2,652
BAJFINANCE 2,296 2,424
2,495
2,623
2,694
BAJAJFINSV 4,591 4,706
4,777
4,892
4,963
BPCL
330
337
347
355
364
BHARTIARTL
463
476
484
497
505
INFRATEL
166
170
173
176
179
BRITANNIA 2,678 2,740
2,795
2,857
2,912
CIPLA
539
559
585
605
631
COALINDIA
137
139
140
142
144
DRREDDY 3,458 3,540
3,675
3,757
3,892
EICHERMOT 12,767 13
,255
13,650
14,138
14,534
GAIL
85
86
88
90
92
GRASIM
496
513
530
548
565
HCLTECH
452
460
471
479
490
HDFCBANK
874
900
915
941
956
HDFC 1,541 1,622
1,668
1,749
1,796
HEROMOTOCO
1,792
1,891
1,952
2,052
2,113
HINDALCO
99
103
106
110
113
HINDUNILVR 2,251 2,312
2,406
2,467
2,561
ICICIBANK
314
329
337
351
359
IOC
81
82
83
84
86
INDUSINDBK
360
378
401
419
442
INFY
620
628
640
649
661
ITC
178
181
184
188
190
JSW STEEL
153
160
165
172
177
KOTAKBANK 1,157 1,21
5
1,248
1,306
1,339
LT
787
800
817
830
847
M&M
309
345
368
405
428
MARUTI 4,491 4,909
5,154
5,572
5,817
NESTLEIND 16,017
16,428
16,986
17,397
17,955
NTPC
84
85
87
89
90
ONGC
75
76
77
78
79
POWERGRID
155
160
163
168
172
RELIANCE 1,175 1,198
1,215
1,238
1,255
SHREECEM 15,818
16,377
16,693
17,252
17,568
SBIN
181
184
187
191
194
SUNPHARMA
427
441
457
471
488
TCS 1,711 1,739
1,759
1,786
1,806
TATAMOTORS
66
70
73
78
80
TATASTEEL
272
278
284
290
296
TECHM
510
528
555
573
600
TITAN
865
939
992
1,066
1,118
ULTRACEMCO 3,207 3,286
3,338
3,418
3,469
UPL
302
310
321
330
341
VEDANTA
71
74
76
78
80
WIPRO
190
194
198
201
206
ZEEL
142
146
149
152
155
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Technical & Derivatives Report
April 13, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
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