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Technical & Derivatives Report
November 13, 2020
Nifty
Bank Out
look
-
28279
)
Bank Nifty yesterday started on a negative and then it remained
under pressure for the major part of the day to end with a loss of
around 2% at 28278.8.
The mammoth rally that started a couple of weeks back from the
levels of 23600 finally came to a halt yesterday as the oscillators
are placed in overbought territory and as prices are overstretched
from their short term average line. This is what we had mentioned
in our yesterday's outlook and the same was witnessed. Going
ahead such dips or consolidation are healthy for the overall bull
trend. We reiterate that our bias remains bullish and we are at the
start of a mega bull run and such dips should be taken as buying
opportunity. For the coming session, we may see some further
correction or consolidation and in such a scenario, stock-specific
trade from the basket will be a better approach. As far as levels are
concerned, immediate support is placed around 27900 - 27600
whereas resistance is around 28600 - 29000 level.
Key Levels
Support 1 – 27900 Resistance 1 – 28600
Support 2 – 27600 Resistance 2 – 29000
Exhibit 1: Nifty Daily Chart
Se
nsex
(
43357)
/ Nifty
(
12691
)
Yesterday morning, the global peers looked a bit nervous and hence,
we had a sluggish start to the trade. Till the mid session, markets
corrected marginally but it was more of a sideways movement with
mildly negative bias. However, as the Finance Minister’s press
conference started, we witnessed some weakness to sneak below the
12650 mark. Fortunately, the market started to rebound from a
kissing distance of 12600 post the press conference and eventually,
ended the session with less than half a percent cut.
Finally, after eight days of marathon rally, the market ended its
winning streak. One shouldn’t be too wary about it, because most of
the events are behind us and technically, markets were a bit
overstretched. So, some sort of breather was very much on cards. In
fact, with reference to our previous article, we had mentioned how
Nifty precisely met with it’s initial target of ‘Bullish Flag’ pattern
around 12750 12800. But by no means, we expect a big price
correction from here on, rather any decline is an opportunity to go
long with a short to medium term view. Market generally experiences
either ‘Time’ or the ‘Price’ correction. Looking at the recent
development, we would rather expect the first scenario where we
may see benchmark spending some time in a band of 400 500
points before resuming its northward trajectory. As far as levels are
concerned, 12750 12800 remains to be immediate levels in the
upward direction; whereas on the lower side, 12600 followed by
12530 are likely to provide decent support for the coming session.
Exhibit 2: Nifty Bank Daily Chart
Sectorally, banking was the major culprit yesterday as traders chose
to take some money off the table after the recent mesmerizing
move. But the real action still continued in the broader market, which
we believe is likely to be the flavor post Diwali as well. So it’s better
to identify such potential themes and the apt candidates to fetch
some handsome returns in coming days.
.Key Levels
Support 1 – 12600 Resistance 1 – 12750
Support 2 – 12530 Resistance2 – 12800
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Technical & Derivatives Report
November 13, 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 11/1011/1111/12
(`000)
Openinterest Nifty
Vie
w
s
The index traded with a negative bias in yesterday's
session, however, stock specific movement were
seen on both the sides throughout the day. Nifty
eventually ended tad below 12700 with a loss of
about half a percent.
FIIs were net buyers in the cash segment to the tune
of Rs. 1514 crores. In index future segment, they
sold worth Rs. 1654 crores with decrease in open
interest indicating long unwinding and short
formations in yesterday’s session.
FII's bought equities worth more than 1500 crores
in cash segment but they preferred profit booking
in index futures. We have seen a sharp rally in this
calendar month so far and have seen first sign of
profit booking by the stronger hands. Hence,
traders should now be selective for fresh trades and
also book timely profits on existing longs. The
immediate support for Nifty would be seen around
12500 whereas resistance is in the range of 12700-
12800.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 2.50%
Bank Nifty futures open interest has decreased by 3.92%
as market closed at 12690.80 levels.
The Nifty November future closed with a premium of 15.2
point against a premium of 5.9 point in last trading
session. The December series closed at a premium of
30.95 point.
The INDIA VIX has decreased from 22.03 to 20.62.
At the same time, the PCR-OI of Nifty decreased from
1.66 to 1.40.
Few of the liquid counters where we have seen high cost
of carry are IDEA, BHEL, GMRINFRA, PNB AND
IBULHSGFIN.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IBULHSGFIN 21827100 25.51 171.05 7.67
CUMMINSIND 1981200 24.23 478.55 4.80
SUNTV 6790500 17.43 442.05 -0.02
ICICIGI 240975 16.91 1259.35 -0.59
RECLTD 29226000 15.76 118.60 1.67
CANBK 20670000 14.09 91.90 -2.96
COALINDIA 34792700 11.85 122.10 -2.39
VOLTAS 3131000 9.28 755.15 -0.75
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
APOLLOHOSP 1915000 -9.84 2110.45 -3.78
BATAINDIA 1113200 -9.64 1339.65 1.21
IGL 4298250 -9.26 438.30 -1.82
NMDC 28334300 -7.70 91.05 0.22
COFORGE 597000 -7.66 2335.20 1.69
BHEL 78057000 -7.24 28.10 1.07
TORNTPHARM 1028250 -6.78 2618.85 2.40
M&MFIN 23853484 -6.63 145.55 1.50
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.40 0.87
BANKNIFTY 0.89 0.74
RELIANCE 0.48 0.50
ICICIBANK 0.99 0.82
INFY 0.44 0.38
Historical Volatility
SCRIP HV
CUMMINSIND 40.83
EXIDEIND 41.06
HINDUNILVR 36.20
APOLLOHOSP 53.38
BALKRISIND 53.23
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Technical & Derivatives Report
November 13, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot =
12690.18
FII Statistics for November 12, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3419.59
5073.62
(1654.03) 153266
13903.81
(3.69)
INDEX
OPTIONS
574257.31
570572.46
3684.85
815732
74023.65
(21.34)
STOCK
FUTURES
15867.24
16022.30
(155.06) 1293302
93552.08
0.41
STOCK
OPTIONS
6809.52
6845.19
(35.67) 93760
6862.97
8.50
Total 600353.66
598513.57
1840.09
2356060
188342.51
(8.35)
Turnover on November 12, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,67,884 36768.68 -32.07
Index
Options
6,80,47,170
53,32,304.86
58.73
Stock
Futures
8,13,138 59529.77 -26.71
Stock
Options
13,42,124 1,02,721.46 -28.44
Total 7,06,70,316
55,31,324.77
52.03
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12700 126.35
39.55 60.45 12739.55
Sell 12800 86.80
Buy 12700 126.35
68.00 132.00 12768.00
Sell 12900 58.35
Buy 12800 86.80
28.45 71.55 12828.45
Sell 12900 58.35
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12700 168.15
40.45 59.55 12659.55
Sell 12600 127.70
Buy 12700 168.15
71.65 128.35 12628.35
Sell 12500 96.50
Buy 12600 127.70
31.20 68.80 12568.80
Sell 12500 96.50
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
12000 12100 12200 12300 12400 12500 12600 12700 12800 12900 13000 13100 13200 13300
Call Put
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Technical & Derivatives Report
November 13, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
360
364
370
374
379
ASIANPAINT 2,139 2,155
2,179
2,195
2,218
AXISBANK
578
589
600
611
621
BAJAJ-AUTO 2,974 2,996
3,018
3,040
3,063
BAJFINANCE 4,150 4,224
4,274
4,349
4,399
BAJAJFINSV 6,770 6,898
6,979
7,107
7,188
BPCL
384
389
393
398
401
BHARTIARTL
471
476
479
484
488
BRITANNIA 3,463 3,489
3,508
3,534
3,552
CIPLA
719
729
744
755
769
COALINDIA
118
120
123
125
129
DIVISLAB 3,254 3,311
3,360
3,416
3,465
DRREDDY 4,732 4,780
4,852
4,900
4,972
EICHERMOT 2,274 2,312
2,340
2,379
2,407
GAIL
92
92
93
94
95
GRASIM
792
810
820
838
848
HCLTECH
813
819
828
834
843
HDFCBANK 1,345 1,358
1,373
1,387
1,402
HDFCLIFE
613
622
627
636
642
HDFC 2,238 2,285
2,314
2,361
2,391
HEROMOTOCO 3,011 3,049
3,074
3,112
3,137
HINDALCO
201
205
208
212
215
HINDUNILVR 2,092 2,142
2,173
2,223
2,254
ICICIBANK
465
471
477
483
489
IOC
83
84
85
86
86
INDUSINDBK
737
753
778
794
819
INFY 1,096 1,107
1,125
1,135
1,153
ITC
182
185
187
190
192
JSW STEEL
330
334
339
343
349
KOTAKBANK 1,717 1,736
1,767
1,786
1,818
LT 1,044 1,058
1,067
1,082
1,091
M&M
614
623
639
648
664
MARUTI 6,715 6,776
6,853
6,914
6,991
NESTLEIND 16,351
16,535
16,717
16,901
17,084
NTPC
89
90
91
92
93
ONGC
70
71
72
73
74
POWERGRID
185
187
189
191
193
RELIANCE 1,941 1,961
1,984
2,004
2,028
SBILIFE
816
827
836
846
855
SHREECEM 22,571
23,006
23,315
23,750
24,059
SBIN
221
224
229
232
236
SUNPHARMA
494
502
510
517
525
TCS 2,631 2,651
2,682
2,702
2,733
TATAMOTORS
148
150
152
153
156
TATASTEEL
460
466
473
480
487
TECHM
828
836
842
849
855
TITAN 1,251 1,265
1,280
1,294
1,309
ULTRACEMCO 4,750 4,798
4,832
4,880
4,915
UPL
418
424
431
437
444
WIPRO
340
343
347
349
353
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Technical & Derivatives Report
November 13, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: tec[email protected]king.com
For Derivatives Queries E-mail: [email protected].com
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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 [email protected]gelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com