www.angelbroking.com
February 15, 2021
Technical & Derivatives Report
Nifty
Bank Out
look
-
(
36109)
On Friday, Bank Nifty started on a flat note and during the first
half continued to move higher. During the start of the second half
some profit booking was seen along with the broader market
however in the last hour it consolidated in a range and eventually
ended with gains of a percent tad above 36100
levels. Throughout the session, the bank index outperformed, and
courtesy to it the benchmark index Nifty didn't end into deep red
territory. During the previous week, we had mentioned a
formation of 'Grave Stone Doji' on Friday and throughout the
week the prices traded within the range (35500 - 36600) of this
doji pattern. Now we have seen outperformance during the Friday
and it seems the bulls are back in action after some consolidation
however we would still wait for a range breakout as during the
week we witnessed a lot of churning between the sectors. Going
ahead a break above 36600 may trigger the next leg of upmove
beyond the 37000 mark whereas a break below 35500 can
trigger a price correction. Traders are advised to keep a tab on
these levels and trade accordingly.
Key Levels
Support 1 – 35500 Resistance 1 – 36600
Support 2 – 35000 Resistance 2 – 37000
Exhibit 1: Nifty Daily Chart
Sensex (51544) / Nifty (15163)
The previous week was fabulous for our market after an excellent
Union Budget, like never before as promised by the Finance
Minister. Before anyone could realize, markets were considerably
off pre-budget lows. Last week, trading started on Monday with the
similar kind of optimism to clock fresh record highs. However there
was no real momentum in the move. In fact, the index kept
oscillating within a slender range throughout the remaining part of
the week. Despite some intraday volatility, the index managed to
maintain its positive posture and eventually ended the week by
adding another 1.60% to the previous weekly close.
As far as the price action is concerned, it can be construed as a
breather after the previous week’s marathon rally. Although, the
bears tried to take the charge, all attempts turned unsuccessful. So
despite having some fatigue around highs, market was not willing
to surrender at all and hence, slipped into a consolidation mode.
Now, taking a glance at all time frame charts, we are unable to see
any key observation. Hence, 15300 15000 to be seen as crucial
range and a breakout on either side should ideally dictate the
direction. But in case of an upside breakout, we would avoid
aggressive participation; because as of now we do not see Nifty
going beyond 15450 15600 in the same leg of the rally. So we
would continue to advise booking profits if Nifty enters this
mentioned zone.
Exhibit 2: Nifty Bank Daily Chart
On the flipside, the action below 15000 would be an interesting
one to participate in. In this scenario, a healthy profit booking
towards 14600 14400 cannot be ruled out. Ideally, next couple of
sessions would be quite crucial and probably we should be able to
get an idea where market is heading in the near term. During the
week, there was only stock specific activity seen in the market; but
honestly nothing was too convincing enough. So the pragmatic
strategy would be to wait for some sort of trend deciding action
and then one should be looking to place aggressive bets.
Key Levels
Support 1 – 15100 Resistance 1 – 15250
Support 2 – 14975 Resistance2 – 15300
www.angelbroking.com
Technical & Derivatives Report
February 15, 2021
Nifty Vs OI
12500
13000
13500
14000
14500
15000
15500
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
1/21 1/25 1/28 2/1 2/3 2/5 2/7 2/10
(`000)
Openinterest Nifty
View
Post last week’s strong up move; we witnessed follow-
up buying to hit fresh record high of 15257.10 on
Tuesday. However, index remained range bound for
next three sessions to eventually conclude the week
with the gains of 1.60%
.
FIIs activity in equities segment remained muted. In index
future segment, they sold worth Rs. 733 crores with good
amount of rise in open interest indicating addition of fresh
shorts.
Unlike previous week, we did see some open interest
addition in both the indices; however, the quantum
remained insignificant. Recently, FIIs have been
unwinding their longs and on Friday they also added
bearish bets in index futures segment. This is certainly
not an encouraging sign for Bull’s. In options front, we
have been witnessing decent writing in puts and hence
15000-15100 may act as a good support zone. On the
higher side, immediate hurdle is placed around 15300
and any upmove beyond this may open doors for
15500 mark.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.60%
Bank Nifty futures open interest has increased by 9.34%
as market closed at 15163.30 levels.
The Nifty February future closed with a discount of 1.85
point against a discount of 11.65 point in last trading
session. The March series closed at a premium of 37.20
point.
The INDIA VIX decreased from 24.27 to 23.04.
At the same time, the PCR-OI of Nifty increased from
1.36 to 1.38.
Few of the liquid counters where we have seen high cost
of carry are EXIDEIND, TVSMOTOR, IBULHSGFIN, SAIL
and VEDL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CONCOR 7417998 24.27 549.50 9.56
ASHOKLEY 45414000 12.76 128.25 -5.21
ITC 165148800 11.83 217.45 -5.05
PEL 4357100 11.37 1730.00 6.22
COALINDIA 35548800 9.18 133.85 -2.40
NATIONALUM 62645000 8.48 48.90 -3.74
MUTHOOTFIN 4734750 8.14 1315.00 3.27
VOLTAS 4171000 7.61 1079.20 -1.67
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MOTHERSUMI 33796000 -10.38 197.30 10.40
ACC 3429000 -9.12 1765.75 0.19
DABUR 11872500 -7.52 534.00 -0.34
AMBUJACEM 19113000 -7.36 277.45 0.22
RAMCOCEM 1708500 -6.82 956.80 1.42
ICICIGI 1071850 -6.59 1494.90 -0.24
AUROPHARMA 9355450 -6.44 929.95 -0.81
LICHSGFIN 8408000 -6.03 442.50 1.63
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.38 1.03
BANKNIFTY 1.09 0.82
RELIANCE 0.49 0.45
ICICIBANK 1.15 0.51
INFY 0.47 0.39
Historical Volatility
SCRIP HV
CONCOR 50.47
ADANIENT 62.70
MOTHERSUMI 69.52
ITC 39.16
PEL 65.83
www.angelbroking.com
Technical & Derivatives Report
February 15, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Spot =
1516
3.30
FII Statistics for February 12, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3410.24 4143.14 (732.90) 126844 13584.45 6.16
INDEX
OPTIONS
262283.81 264738.19 (2454.38) 886717 95308.33 12.30
STOCK
FUTURES
14221.62 14199.75 21.87
1218113 105652.59 0.26
STOCK
OPTIONS
16028.65 16167.56 (138.91) 196108 17249.04 3.43
Total 295944.32
299248.64
(3304.32) 2427782
231794.41
4.93
Turnover on February 12, 2020
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,39,530 33576.78 23.94
Index Options 1,77,16,746
17,55,685.36 -73.57
Stock Futures 8,67,686 79718.62 16.71
Stock Options 20,65,825
1,90,125.67 33.21
Total 2,09,89,787
20,59,106.43 -70.08
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15200 178.40
47.00 53.00 15247.00
Sell 15300 131.40
Buy 15200 178.40
86.00 114.00 15286.00
Sell 15400 92.40
Buy 15300 131.40
39.00 61.00 15339.00
Sell 15400 92.40
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15200 218.90
44.50 55.50 15155.50
Sell 15100 174.40
Buy 15200 218.90
79.70 120.30 15120.30
Sell 15000 139.20
Buy 15100 174.40
35.20 64.80 15064.80
Sell 15000 139.20
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
14400 14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700
Call Put
www.angelbroking.com
Technical & Derivatives Report
February 15, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
573
595
608
630
644
ASIANPAINT 2,432 2,459
2,491
2,518
2,550
AXISBANK
726
738
747
759
767
BAJAJ-AUTO 4,071 4,103
4,150
4,182
4,228
BAJFINANCE 5,490 5,534
5,576
5,620
5,662
BAJAJFINSV 10,096
10,187
10,259
10,351
10,422
BPCL
408
413
420
424
431
BHARTIARTL
576
581
590
595
603
BRITANNIA 3,360 3,391
3,440
3,470
3,520
CIPLA
834
841
853
860
872
COALINDIA
130
132
135
136
139
DIVISLAB 3,664 3,692
3,723
3,750
3,782
DRREDDY 4,737 4,765
4,812
4,840
4,887
EICHERMOT 2,717 2,749
2,797
2,829
2,877
GAIL
129
131
134
136
139
GRASIM 1,206 1,224
1,239
1,258
1,273
HCLTECH
939
950
968
979
997
HDFCBANK 1,563 1,572
1,582
1,592
1,602
HDFCLIFE
701
706
713
718
725
HDFC 2,705 2,748
2,779
2,822
2,852
HEROMOTOCO 3,456 3,486
3,533
3,563
3,610
HINDALCO
281
286
292
297
302
HINDUNILVR 2,208 2,225
2,249
2,265
2,289
ICICIBANK
622
635
642
655
663
IOC
93
94
96
97
98
INDUSINDBK
985
1,006
1,033
1,054
1,080
INFY 1,290 1,300
1,312
1,322
1,334
ITC
210
214
220
224
230
JSW STEEL
397
401
406
409
414
KOTAKBANK 1,928 1,940
1,957
1,969
1,986
LT 1,499 1,510
1,527
1,538
1,555
M&M
897
903
911
916
924
MARUTI 7,441 7,505
7,590
7,654
7,739
NESTLEIND 17,072
17,183
17,351
17,462
17,630
NTPC
93
95
96
98
99
ONGC
95
96
98
99
101
POWERGRID
206
209
214
218
223
RELIANCE 1,982 2,012
2,045
2,075
2,108
SBILIFE
881
889
901
909
921
SHREECEM 27,405
27,686
28,080
28,361
28,755
SBIN
379
386
393
400
406
SUNPHARMA
603
615
635
647
667
TCS 3,143 3,167
3,206
3,230
3,270
TATAMOTORS
316
321
326
330
335
TATASTEEL
666
673
686
693
705
TECHM
973
982
995
1,005
1,018
TITAN 1,462 1,478
1,507
1,524
1,553
ULTRACEMCO 6,302 6,349
6,415
6,463
6,528
UPL
522
529
538
545
554
WIPRO
434
438
444
448
453
www.angelbroking.com
Technical & Derivatives Report
February 15, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: techn[email protected]king.com
For Derivatives Queries E-mail: [email protected]king.com
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel
Broking Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide
registration number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory
authority for accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed
or co-managed public offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate
the contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this
report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we
cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this
document. While Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there
may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
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