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Technical & Derivatives Report
April 15, 2020
Sensex (30690) / Nifty (8994)
Post a long weekend, our markets started trading for the week
on a flat note. However, the indices corrected post opening and
then oscillated within the range of 200 points and ended the
session tad below the 9000 mark.
On Monday, while the Nifty oscillated within a range 8900-9100,
it was a day with more of stocks specific action. Stocks from the
Pharma sector continued with their up move and outperformed
the broader markets. Stocks from cement space too witnessed
positive momentum and posted decent outperformance. On the
other hand, the Banking and Financial sector continued with its
underperformance due to which, Bank Nifty corrected by more
than 2 percent. The immediate support for Nifty is placed around
8900 and on Monday, the Nifty witnessed pullback move from
this support couple of times. For the near term, 8900 followed
by 8650 are the immediate supports for the index. Till the index
holds the mentioned supports, we expect the pullback move
seen during the last week to continue. The immediate resistance
is seen around 9130 and once Nifty surpass this level, we expect
the index to rally towards 9320 first (38.2 percent retracement of
the recent correction) followed by 9500.
.
Nifty Bank Outlook
(
19488
)
The banking index too started the week slightly lower along with
the benchmark index. Despite a valiant effort at midst of the day,
the BANKNIFTY remained under pressure for the major part of
the session to eventually close with over couple of percent cut.
Last week has been a remarkable one for the banking index but
overall it has been slightly underperforming the broader market.
This behaviour continued on Monday as well as some of the
heavyweight private banking stocks saw decent profit booking.
Going ahead, we continue to see good support around 19200-
19000 and till the time it remains convincingly above this
support, the possibility of marching towards 19900-20200
cannot be rules out. Before this, 19600-19800 can be seen as
intraday hurdles.
Key Levels
Support 1 – 19200 Resistance 1 – 19800
Support 2 – 19000 Resistance 2 – 20200
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Traders should adopt a stock specific strategy in such market and
identify stocks in momentum on a given day. It is also advisable
to stringently follow the risk management strategy and book
profits on positions with decent gains as well.
Key Levels
Support 1 – 8900 Resistance 1 – 9130
Support 2 – 8650 Resistance 2 – 9320
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Technical & Derivatives Report
April 15, 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
3/20 3/24 3/26 3/30 4/1 4/7 4/9
(`000)
Openinterest Nifty
V
iew
s
The indices corrected on Monday's session post
opening as we witnessed unwinding of some long
positions which resulted in the Nifty ending tad below
the 9000 mark with a loss of 1.30 percent
.
FIIs were net sellers in the cash market segment to the
tune of Rs. 1244 crores. In index futures they sold
worth 475 crores with a decrease in open interest
indicating long unwinding on Monday.
On Monday, the indices corrected due to unwinding of
some long positions. Recently, we have seen upmove
in the index due to short covering and fresh long
formations as well. Nifty has ended Monday's session
near the support of 9000 which has decent open
interest in the monthly expiry contracts. Hence, we
could again see recovery from this support in the near
term towards 9500.
C
omme
n
t
s
The Nifty futures open interest has decreased by 2.42%
Bank Nifty futures open interest has decreased by 3.81
% as market closed at 8993.85 levels.
The Nifty April future closed with a premium of 17.25
points against a discount of 25.2 points in last trading
session. The May series closed at a premium of 34.05
points.
The INDIA VIX has increased from 49.74 to 51.45.
At the same time, the PCR-OI of Nifty has decreased
from 1.53 to 1.39.
Few of the liquid counters where we have seen high cost
of carry are, IDEA, GMRINFRA, NCC, HINDPETRO and
UJJIVAN.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
UJJIVAN 1990700 25.24 157.20 2.19
IDEA 329182000 24.96 4.10 25.76
NCC 24048000 19.82 23.95 19.55
CADILAHC 4723400 18.62 353.75 0.97
TORNTPHARM 552500 17.06 2375.25 -6.47
RAMCOCEM 578400 15.87 505.20 2.39
BIOCON 10800800 12.56 340.55 2.45
LUPIN 9682400 12.37 826.05 4.94
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CANBK 7241000 -11.59 88.30 -3.59
VOLTAS 1283000 -10.34 505.10 -0.42
BALKRISIND 594400 -8.72 852.35 -2.62
CESC 952800 -8.03 502.70 7.25
GODREJCP 6064800 -7.15 556.95 -6.11
HINDALCO 31104500 -7.07 113.80 5.61
TATAMOTORS 56820200 -6.48 74.25 -0.27
ACC 1988000 -6.42 1067.30 6.81
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.39 0.74
BANKNIFTY 1.13 0.64
RELIANCE 0.84 0.60
ICICIBANK 0.75 0.80
INFY 0.74 0.76
Historical Volatility
SCRIP HV
GLENMARK 139.01
NCC 164.64
IDEA 229.64
ACC 78.47
PAGEIND 56.51
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Technical & Derivatives Report
April 15, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot
= 8993.85
FII Statistics for April 13, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5604.33
6079.02
(474.69) 137598
8527.53
(4.52)
INDEX
OPTIONS
107148.56
106843.26
305.30
474660
30747.29
6.12
STOCK
FUTURES
12777.87
12396.02
381.85
1423916
69603.09
(0.19)
STOCK
OPTIONS
1649.14
1595.62
53.52
28851
1357.35
32.17
Total 127179.90
126913.92
265.98
2065025
110235.26
1.23
Turnover on April 13, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,27,395 27600.83 -21.81
Index Options 1,00,09,111
5,34,835.42 -68.29
Stock Futures 7,91,706 38641.62 -8.56
Stock Options 4,96,147 25938.24 7.03
Total 1,18,24,359
6,27,016.11 -64.94
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9000 382.35
51.90 48.10 9051.90
Sell 9100 330.45
Buy 9000 382.35
100.75 99.25 9100.75
Sell 9200 281.60
Buy 9100 330.45
48.85 51.15 9148.85
Sell 9200 281.60
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9000 373.20
40.05 59.95 8959.95
Sell 8900 333.15
Buy 9000 373.20
76.80 123.20 8923.20
Sell 8800 296.40
Buy 8900 333.15
36.75 63.25 8863.25
Sell 8800 296.40
Nifty Put-Call Analysis
,0
200,000
400,000
600,000
800,000
1000,000
1200,000
1400,000
1600,000
1800,000
2000,000
8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700 9800
Call Put
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Technical & Derivatives Report
April 15, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
241
252
259
270
277
ASIANPAINT 1,562 1,621
1,662
1,722
1,763
AXISBANK
390
405
416
431
442
BAJAJ-AUTO 2,275 2,336
2,383
2,445
2,492
BAJFINANCE 2,104 2,196
2,358
2,450
2,612
BAJAJFINSV 4,227 4,359
4,602
4,734
4,976
BPCL
329
339
347
358
365
BHARTIARTL
478
495
508
525
538
INFRATEL
168
173
176
181
184
BRITANNIA 2,632 2,669
2,735
2,772
2,837
CIPLA
572
582
594
604
616
COALINDIA
135
141
144
149
152
DRREDDY 3,488 3,617
3,737
3,866
3,985
EICHERMOT 13,054
13,227
13,479
13,652
13,904
GAIL
81
83
86
89
92
GRASIM
488
516
539
567
590
HCLTECH
444
451
461
468
478
HDFCBANK
849
872
909
933
970
HDFC 1,571 1,613
1,689
1,730
1,806
HEROMOTOCO
1,808
1,864
1,944
1,999
2,079
HINDALCO
102
108
111
117
120
HINDUNILVR 2,253 2,300
2,361
2,408
2,469
ICICIBANK
319
325
335
341
352
IOC
80
82
83
85
86
INDUSINDBK
351
381
401
431
452
INFY
613
625
638
651
664
ITC
178
180
183
185
189
JSW STEEL
156
162
167
173
178
KOTAKBANK 1,200 1,226
1,241
1,267
1,283
LT
784
825
849
889
913
M&M
341
352
366
377
391
MARUTI 4,867 5,075
5,209
5,417
5,552
NESTLEIND 15,991
16,295
16,635
16,939
17,279
NTPC
83
86
88
90
92
ONGC
69
72
76
78
82
POWERGRID
153
157
161
164
168
RELIANCE 1,160 1,174
1,195
1,209
1,230
SHREECEM 15,529
16,415
17,108
17,994
18,687
SBIN
180
182
185
187
191
SUNPHARMA
426
444
461
479
496
TCS 1,723 1,741
1,764
1,782
1,805
TATAMOTORS
70
72
75
77
80
TATASTEEL
265
274
283
292
301
TECHM
504
515
533
545
562
TITAN
904
935
975
1,007
1,046
ULTRACEMCO 3,122 3,294
3,463
3,635
3,803
UPL
308
316
325
334
343
VEDANTA
71
75
77
81
83
WIPRO
175
182
190
197
205
ZEEL
121
129
136
144
151
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Technical & Derivatives Report
April 15, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
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