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Technical & Derivatives Report
August 14, 2020
Nifty
Bank Out
-
(
22196
)
Bank Nifty too started on a positive note however it failed to hold
at higher levels and after consolidating in a range for the major
part eventually ended with a loss of 0.30% tad below 22000 levels.
Even though the bank nifty has inched higher this week the
momentum move has been missing. If we closely watch the daily
chart, we are witnessing small body candles which indicates a lack
of momentum, and in yesterday's session, the bank index exactly
took resistance around 61.8% retracement of recent fall (23211 -
21031) placed around 22380 levels. We sense the momentum can
trigger once the bank index sustains above 22380 levels which can
then open doors for 22755 levels. Till then we may continue to
see consolidation with support placed around 21900 and 21750
levels. Traders are advised to have a stock-specific approach but
avoid aggressive bets.
Key Levels
Support 1 – 21900 Resistance 1 – 22380
Support 2 – 21750 Resistance 2 – 22650
Exhibit 1: Nifty Daily Chart
Sensex (38310) / Nifty (11300)
Yesterday, we opened slightly higher in the wake of smart rally in
global markets previous night. The lead extended marginally in the
first half. But all of a sudden, the index dipped lower during the
midsession. However the damage was not big as index recovered
gradually and then slipped into a consolidation mode. Eventually,
the weekly expiry panned out flat precisely at 11300.
When it comes to index, the boredom continues for fourth straight
day. But if we take a glance in the broader market, the picture is
absolutely different. Mid and small cap stocks are just soaring in last
few days. This is probably the best week for stocks from the broader
market in the recent time, better than previous week as well. This is
what we have been alluding to since last couple of days, when
midcap universe starts to move, it just creates that euphoria as they
tend to move as if there is no tomorrow.
Now talking about the benchmark, it is clearly struggling to surpass
11350-11400. In our sense, if Nifty doesn’t surpass the mentioned
resistance zone, the possibility of it falling is quite high. In fact, if we
look at the daily chart meticulously, we can see a formation of ‘Head
and Shoulder’ pattern on daily chart and we are currently placed at
the higher end of the right shoulder, which is the decisive one. Yes,
it’s slightly early to comment on it as such pattern generally requires
confirmation in the form of breaching the neckline (in this case, its
around 11235-11175).
Exhibit 2: Nifty Bank Daily Chart
Let see, in our sense, if any directional move has to happen in index,
it will happen in next 1-2 days. We continue to remain cautious and
advise traders to stay light. In fact with yesterday’s spectacular move,
the NIFTY MIDCAP 50 has almost reached its strong resistance zone
of weekly ‘200-SMA. So it’s important to take a note of this as well.
Key Levels
Support 1 – 11238 Resistance 1 – 11350
Support 2 – 11125 Resistance 2 – 11400
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Technical & Derivatives Report
August 14, 2020
Nifty Vs OI
10600
10700
10800
10900
11000
11100
11200
11300
11400
10,400
10,600
10,800
11,000
11,200
11,400
11,600
11,800
8/3 8/4 8/5 8/6 8/7 8/10 8/11 8/12 8/13
(`000)
Openinterest Nifty
View
s
On the weekly expiry day, the indices consolidated
within a range and ended the day on a flat note tad at
11300.
FIIs were net buyers in the cash market segment to the
tune of Rs. 416 crores. In index futures, they bought
worth 767 crores with increase in open interest
indicating long formations and short covering in
yesterday’s session
.
The open interest in Nifty futures declined by about 2
percent whereas in Bank Nifty it reduced by about 8
percent, indicating unwinding of positions. FII bought
equities in cash segment and formed some longs in
index futures as well. The index has been consolidating
within a range of 11200-11400, and traders are advised
to trade with a stock specific approach until further
developments seen.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 1.94%
Bank Nifty futures open interest has decreased by 7.96%
as market closed at 11300.45 levels.
The Nifty August future closed with a premium of 16.9
point against a premium of 9.4 point in last trading
session. The September series closed at a premium of
27.5 point.
The INDIA VIX has decreased from 20.84 to 20.56
At the same time, the PCR-OI of Nifty decreased from
1.45 to 1.33.
Few of the liquid counters where we have seen high cost
of carry are IDEA, L&TFH, NATIONALUM, HAVELLS AND
RAMCOCEM.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ASHOKLEY 64440000 33.26 61.10 13.32
SRTRANSFIN 3839919 24.23 702.30 5.60
BHEL 73101000 17.24 38.95 7.71
TATAPOWER 73048500 15.67 56.10 5.72
BHARATFORG 6952500 13.19 502.90 14.82
VOLTAS 3439000 12.57 618.55 2.30
CHOLAFIN 5857500 12.37 225.15 7.67
HINDALCO 29691500 11.07 183.55 4.39
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IBULHSGFIN 14405700 -12.35 212.70 -2.43
AUROPHARMA 14500200 -12.10 881.30 -5.63
PVR 1553926 -8.81 1254.35 4.39
BATAINDIA 2443650 -7.75 1236.85 0.01
UPL 12758200 -6.37 489.15 0.42
MUTHOOTFIN 4836750 -6.17 1178.10 2.26
PETRONET 11262000 -6.06 265.20 2.61
RBLBANK 23569000 -5.68 184.95 -1.67
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.33 0.98
BANKNIFTY 0.80 0.73
RELIANCE 0.66 0.43
ICICIBANK 0.52 0.42
INFY 0.62 0.43
Historical Volatility
SCRIP HV
BHARATFORG 68.84
INDIGO 57.58
ASHOKLEY 74.63
TATAPOWER 53.10
BHEL 70.67
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Technical & Derivatives Report
August 14, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Spot =
11300.45
FII Statistics for August 13, 2020
Detail Buy
Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3085.99
2319.11
766.88
117121
8903.06
1.60
INDEX
OPTIONS
306351.94
304921.90
1430.04
533778
43213.94
(19.97)
STOCK
FUTURES
13236.26
13765.24
(528.98) 1292429
90892.87
0.02
STOCK
OPTIONS
4981.43
5064.09
(82.66) 89596
6251.75
5.40
Total 327655.62
326070.34
1585.28
2032924
149261.62
(5.85)
Turnover on August 13, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,21,854 21443.69 -11.50
Index Options 4,87,72,513
32,08,165.47
113.24
Stock Futures 7,91,962 56835.49 2.86
Stock Options 11,22,698 84389.05 1.50
Total 5,10,09,027
33,70,833.70
102.20
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11300 165.65
49.75 50.25 11349.75
Sell 11400 115.90
Buy 11300 165.65
90.15 109.85 11390.15
Sell 11500 75.50
Buy 11400 115.90
40.40 59.60 11440.40
Sell 11500 75.50
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11300 148.65
40.00 60.00 11260.00
Sell 11200 108.65
Buy 11300 148.65
70.15 129.85 11229.85
Sell 11100 78.50
Buy 11200 108.65
30.15 69.85 11169.85
Sell 11100 78.50
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000
Call Put
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Technical & Derivatives Report
August 14, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
339
343
346
350
353
ASIANPAINT 1,775 1,789
1,802
1,816
1,829
AXISBANK
439
443
450
455
461
BAJAJ-AUTO 2,979 2,999
3,019
3,039
3,059
BAJFINANCE 3,360 3,390
3,431
3,461
3,502
BAJAJFINSV 6,261 6,305
6,369
6,413
6,477
BPCL
412
416
421
426
431
BHARTIARTL
512
524
536
548
560
INFRATEL
191
196
199
204
207
BRITANNIA 3,754 3,781
3,819
3,847
3,885
CIPLA
737
749
766
777
795
COALINDIA
127
128
129
130
131
DRREDDY 4,429 4,466
4,528
4,565
4,627
EICHERMOT 21,098
21,385
21,843
22,130
22,587
GAIL
95
96
98
99
101
GRASIM
614
623
630
639
647
HCLTECH
706
715
722
731
738
HDFCBANK 1,047 1,053
1,062
1,068
1,077
HDFC
588
594
604
610
620
HEROMOTOCO
1,785
1,795
1,809
1,819
1,833
HINDALCO 2,718 2,764
2,792
2,838
2,866
HINDUNILVR
175
180
182
186
189
ICICIBANK 2,176 2,187
2,202
2,213
2,228
IOC
363
365
369
372
375
INDUSINDBK
86
86
87
87
88
INFY
510
514
521
525
532
ITC
936
943
956
964
976
JSW STEEL
194
198
201
205
208
KOTAKBANK
251
255
259
263
268
LT 1,318 1,327
1,343
1,352
1,367
M&M
937
964
979
1,006
1,021
MARUTI
618
625
635
642
652
NESTLEIND 6,603 6,667
6,720
6,784
6,837
NTPC 16,328
16,401
16,532
16,605
16,735
ONGC
86
87
87
88
88
POWERGRID
78
78
79
79
80
RELIANCE
175
177
178
181
182
SHREECEM 2,095 2,108
2,124
2,137
2,153
SBIN 20,787
21,012
21,328
21,553
21,869
SUNPHARMA
197
199
203
206
210
TCS
508
515
525
531
542
TATAMOTORS 2,219 2,237
2,268
2,286
2,318
TATASTEEL
122
126
129
134
137
TECHM
402
407
415
420
427
TITAN
674
686
696
707
717
ULTRACEMCO 1,046 1,072
1,088
1,113
1,129
UPL 3,975 4,011
4,043
4,079
4,111
VEDANTA
480
484
492
497
505
WIPRO
271
274
278
281
285
ZEEL
158
160
162
164
166
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Technical & Derivatives Report
August 14, 2020
*
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]g.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