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July 13, 2021
Technical & Derivatives Report
Nifty Bank Outlook
(3
5199
)
Post Friday’s consolidation, we started-off the week on a
cheerful note almost towards 35300 and once again observed
range bound move for the first half of the session. In the midst,
all of a sudden profit booking drag the banking index near the
important psychological mark of 35000. Due to some respite in
the fag end the BankNifty could manage to conclude the day
with the gains of 0.36% to previous close.
Technically speaking, there isn’t much change in the chart
structure as the banking index has been stuck in a tight range.
Any attempt of recovery towards 35800-36000 is not
sustainable; these levels has certainly gained more important
and the wait continues to see 36000 plus levels which may
boost the optimism to start the another leg of rally towards the
life time highs. On the lower side, around 35000 is the
immediate demand zone. At this point of time, traders are
advised to avoid any aggressive bets in index and prefer trading
in other baskets which is showing smart moves.
Key Levels
Support 1 – 35000 Resistance 1 – 35500
Support 2 – 34800 Resistance 2 – 35800
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (52373) / Nifty (15693)
The proceedings for the week started on a pleasant note owing to
slightly cheerful mood across the globe. The index then slipped
into a consolidation mode in the following hours. Benchmark
index was quiet and the broader market was doing well; but all of
a sudden post the mid session, market certainly took a nosedive
and before anyone could realise, Nifty not only erased all gains
but also entered a negative territory in a flash. Fortunately 15650
once again acted as a sheet anchor to restrict the sudden hiccup.
The mystery continues in our market as we are continuously
seeing market turning nervous at higher levels. Since there is no
major reason known for this sort of nervousness, we must
construe this as a part of mild profit booking from the traders.
Also the way buying tends to emerge at lower levels, it certainly
bodes well for the bulls. For the coming session, 15650 - 15600
are to be seen as strong support levels: whereas on the higher
side, 15750 - 15800 are the levels to watch out for.
We reiterate that if Nifty
has to regain any kind of strength, it
needs to surpass the 15800 mark with some authority. Till then
this consolidation continues and one should continue to focus
on individual themes.
Key Levels
Support 1 – 15650 Resistance 1 – 15750
Support 2 – 15600 Resistance 2 – 15800
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Technical & Derivatives Report
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Nifty Vs OI
15550
15600
15650
15700
15750
15800
15850
15900
15950
96,000
97,000
98,000
99,000
100,000
101,000
102,000
103,000
104,000
6/25 6/29 7/1 7/5 7/7 7/9
(`000)
Openinterest Nifty
View
Nifty started the day with a positive bias and rallied
towards 15800 mark. The index then consolidated in a
range of 50 points till noon, however it corrected sharply
in the later half and gave up all the gains to end on a flat
note.
FIIs were net sellers in the cash segment to the tune of
Rs. 746 crores. In index futures front, they bought worth
Rs 719 crores with fall in open interest indicating short
covering and long formations in yesterday’s session.
Nifty rallied towards the 15800 mark but it failed to
continue the momentum. The correction in the later half
was mainly due to profit booking of long positions. FII's
were net sellers in the cash segment but they covered
some shorts in the index futures segment. In options
segment, 15800 and above calls added open interest
while some addition was seen in 15800-15600 put
options. The call writers were quite active and open
interest concentration in 15800 call indicates it as a major
hurdle for next couple of sessions. However , the Nifty
PCR-OI is trading at 0.87 which indicates oversold
market. Nifty could consolidate within range of 15600-
15800 and hence, traders can look to trade with a stock
specific approach.
Comments
The Nifty futures open interest has decreased by 2.31%.
Bank Nifty futures open interest has decreased by 0.04%
as market closed at 15692.60 levels.
The Nifty July future closed with a premium of 19.35 point
against a premium of 32.65 point in last trading session.
The August series closed at a premium of 60 point.
The INDIA VIX increased from 12.94 to 12.99. At the same
time, the PCR-OI of Nifty decreased from 0.94 to 0.87.
Few of the liquid counters where we have seen high cost
of carry are NMDC, IDEA, L&TFH, SRTRANSFIN,
BERGERPAINT AND SIEMENS.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
COROMANDEL 793125 12.10 883.80 -1.30
FEDERALBNK 89180000 11.80 89.50 4.53
GODREJPROP 2435550 9.88 1514.05 2.22
AMBUJACEM 20505000 7.30 371.75 2.22
ACC 3138000 7.12 2072.25 1.72
BATAINDIA 1684100 7.03 1567.55 -0.15
HDFCBANK 27689750 6.93 1487.00 -1.04
TATACHEM 9509000 6.87 778.90 1.58
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NAM-INDIA 2113600 -7.75 380.60 0.84
BAJAJFINSV 734175 -6.57 12908.85 0.41
MARICO 6240000 -5.60 531.65 -0.07
PFC 43424800 -4.94 123.50 1.35
GUJGASLTD 2036250 -4.51 681.65 0.23
COFORGE 525800 -4.43 4388.30 0.80
IRCTC 2046525 -4.11 2262.90 2.29
TATASTEEL 46079350 -4.08 1226.95 -1.18
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.87 0.89
BANKNIFTY 0.71 0.96
RELIANCE 0.42 0.36
ICICIBANK 0.57 0.54
INFY 0.51 0.53
Historical Volatility
SCRIP HV
PAGEIND 43.23
METROPOLIS 51.62
FEDERALBNK 54.94
ULTRACEMCO 38.52
MANAPPURAM 54.77
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Technical & Derivatives Report
July 13, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot = 15692.60
FII Statistics for July 12, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3845.94
3126.90
719.04
139582
11363.28
(2.02)
INDEX
OPTIONS
344211.15
346968.16
(2757.01) 1211468
108044.47
4.14
STOCK
FUTURES
10629.01
10662.22
(33.21) 1397482
110764.08
0.33
STOCK
OPTIONS
13608.40
13770.09
(161.69) 278259
22394.70
3.02
Total 372294.50
374527.37
(2232.87) 3026791
252566.53
1.96
Turnover on July 12, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 2,63,346 21954.96 -11.42
Index
Options
3,53,10,535 34,93,187.66
12.52
Stock Futures 5,73,261 47205.33 -1.86
Stock
Options
17,51,750 1,48,323.90 -4.57
Total 3,78,98,892 37,10,671.85
11.34
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15700 170.20
49.75 50.25 15749.75
Sell 15800 120.45
Buy 15700 170.20
89.80 110.20 15789.80
Sell 15900 80.40
Buy 15800 120.45
40.05 59.95 15840.05
Sell 15900 80.40
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15700 156.85
39.15 60.85 15660.85
Sell 15600 117.70
Buy 15700 156.85
68.00 132.00 15632.00
Sell 15500 88.85
Buy 15600 117.70
28.85 71.15 15571.15
Sell 15500 88.85
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300
Call Put
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Technical & Derivatives Report
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
702
710
723
731
744
ASIANPAINT 2,959 2,979
3,011
3,031
3,063
AXISBANK
744
749
753
758
763
BAJAJ-AUTO 3,895 3,925
3,978
4,008
4,061
BAJFINANCE 6,055 6,102
6,151
6,198
6,246
BAJAJFINSV 12,658
12,783
12,864
12,990
13,071
BPCL
444
448
453
457
463
BHARTIARTL
522
526
532
536
543
BRITANNIA 3,442 3,456
3,478
3,492
3,514
CIPLA
949
954
961
967
973
COALINDIA
145
146
147
147
149
DIVISLAB 4,548 4,568
4,596
4,617
4,644
DRREDDY 5,418 5,456
5,478
5,516
5,538
EICHERMOT 2,681 2,695
2,719
2,734
2,758
GRASIM 1,494 1,515
1,528
1,549
1,562
HCLTECH
971
975
979
983
987
HDFCBANK 1,473 1,480
1,491
1,498
1,509
HDFCLIFE
677
680
683
686
690
HDFC 2,421 2,449
2,480
2,508
2,539
HEROMOTOCO 2,876 2,887
2,906
2,918
2,937
HINDALCO
383
386
389
3
92
396
HINDUNILVR 2,415 2,429
2,445
2,459
2,475
ICICIBANK
638
642
646
650
654
IOC
106
107
107
108
109
INDUSINDBK 1,033 1,041
1,049
1,058
1,066
INFY 1,509 1,528
1,553
1,573
1,597
ITC
200
201
202
202
203
JSW STEEL
670
682
693
705
716
KOTAKBANK 1,716 1,724
1,733
1,742
1,751
LT 1,478 1,490
1,503
1,514
1,527
M&M
762
767
774
780
787
MARUTI 7,365 7,418
7,504
7,556
7,642
NESTLEIND 17,472
17,557
17,656
17,741
17,840
NTPC
116
117
118
119
120
ONGC
117
118
119
119
120
POWERGRID
226
228
230
231
233
RELIANCE 2,060 2,072
2,087
2,099
2,114
SBILIFE 1,012 1,023
1,029
1,040
1,047
SHREECEM 27,178
27,606
28,013
28,441
28,848
SBIN
422
425
427
430
433
SUNPHARMA
663
666
669
672
676
TCS 3,158 3,176
3,206
3,
223
3,253
TATACONSUM
760
768
777
785
795
TATAMOTORS
303
305
309
311
314
TATASTEEL 1,194 1,211
1,235
1,251
1,275
TECHM 1,041 1,049
1,054
1,062
1,066
TITAN 1,696 1,708
1,724
1,735
1,751
ULTRACEMCO 6,828 6,961
7,038
7,171
7,248
UPL
807
814
823
830
839
WIPRO
518
522
527
531
536
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Technical & Derivatives Report
July 13, 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