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Technical & Derivatives Report
September 15, 2020
Nifty
Bank Out
-
(
22
101
)
Bank Nifty as well started on a positive however it lacked follow up
buying and crept lower. Subsequently, during the second half, the
selling got aggravated as the bank index ended with deep cuts of
1.68% tad at 22100.
Once again the bank nifty turned to be a spoilsport as even though
the breadth was positive it dragged the benchmark lower due to
its underperformance. On the daily chart, the bank index has
closed in the vicinity of the strong support that we have been
mentioning for the last few sessions. We sense if any bounce has
to come then it needs to be from the 22000 levels or else we may
see further downside in the near term towards 21630 - 21400
levels. On the flip side, the last three sessions high in the range
22600 - 22800 remains an immediate resistance zone and for a
broad-based buying in banking stocks, it needs to be crossed.
Traders are advised to keep a tab on the above levels and trade
accordingly.
Key Levels
Support 1 – 22000 Resistance 1 – 22600
Support 2 – 21630 Resistance 2 – 22700
Exhibit 1: Nifty Daily Chart
Sensex (38757) / Nifty (11440)
The global set up was just ideal yesterday morning to have a head
start for the new trading week. We began convincingly above 11500
and then slipped into a consolidation mode for the major part of the
session. However post the mid session, the benchmark took a
nosedive and within a blink of an eye, we not only pare down gains
but also sneaked well inside the negative territory. Fortunately a
modest recovery at the end reduced the damage on a closing basis.
Practically, post the opening, nobody was even bothered looking at
indices; because lot of stocks from the broader markets just took off
right from the word go. As far as index movers are concerned, the IT
space took the charge yesterday and witnessed some stellar moves
throughout the day. However, the banking looked a bit tentative
post the initial up move which was very short lived. In fact, post the
midsession, banking stocks came off sharply and turned out to be
spoilsport along with the recent mover RELIANCE, who witnessed
some profit taking yesterday. As a result of all this, the Nifty corrected
precisely after entering a strong resistance zone of 11550 - 11650.
On the flipside, 11400-11350 would be seen as crucial supports.
.Key Levels
Support 1 – 11400 Resistance 1 – 11550
Support 2 – 11350 Resistance 2 – 11585
Exhibit 2: Nifty Bank Daily Chart
The kind of sudden fall we witnessed yesterday, clearly suggests that
we are still not out of the woods and hence, it’s a kind of reality check
for complacent buyers that we are going to see at regular intervals
till the time uncertainty gets eliminated. Hence, it’s advisable to
continue with a stock specific approach but at the same time, it’s
important to take timely profits and avoid aggressive bets overnight.
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Technical & Derivatives Report
September 15, 2020
Nifty Vs OI
11100
11150
11200
11250
11300
11350
11400
11450
11500
11550
11600
9,500
10,000
10,500
11,000
11,500
12,000
12,500
9/1 9/2 9/3 9/4 9/7 9/8 9/9 9/10 9/11 9/14
(`000)
Openinterest Nifty
View
s
Nifty started the week on a positive note, but it failed to
carry the optimism and corrected in the later half and
ended the day with a minor loss.
FIIs were net buyers in cash market segment to the tune
of Rs. 298 crores. In index futures, they sold worth
Rs. 829 crores with rise in open interest indicating short
positions created yesterday
.
Nifty gave up the gains of the first half, but added some
open interest during the day. However, short formation
was seen in the Bank Nifty where open interest
increased by 18 percent along with the price correction.
FII's formed fresh shorts in the index futures segment
and their 'Long Short Ratio' have now declined to
around 51 percent. In options segment, 11550 and
11600 call options added fresh open interest indicating
resistance zone for the near term. Until the index
surpass this resistance zone of 11550-11600, traders are
advised to trade with a stock specific approach and
avoid aggressive positions.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 4.69%
Bank Nifty futures open interest has increased by 18.12%
as market closed at 11440.05 levels.
The Nifty September future closed with a premium of 11.9
point against a premium of 2.65 point in last trading
session. The October series closed at a premium of 25.45
point.
The INDIA VIX has increased from 20.71 to 21.19.
At the same time, the PCR-OI of Nifty decreased from
1.49 to 1.36.
Few of the liquid counters where we have seen high cost
of carry are PNB, BANKBARODA, BHARTIARTL,
NATIONALUM, AND UBL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
INDIGO 3384500 23.18 1321.15 2.09
ESCORTS 3127300 21.50 1246.50 3.99
MINDTREE 2255200 21.14 1221.70 3.21
VOLTAS 2439000 16.31 685.60 4.43
APOLLOHOSP 1276000 14.39 1623.70 0.71
TECHM 11151600 13.54 790.75 3.50
UBL 1272600 12.01 1052.40 -0.54
BHARTIARTL 139215561 10.15 474.10 -3.34
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
APOLLOTYRE 9420000 -25.97 125.55 7.33
MGL 1848000 -9.44 929.75 2.71
BALKRISIND 1684800 -9.22 1370.85 5.37
IGL 7078500 -7.53 408.75 1.61
BEL 35256400 -7.46 107.05 4.44
GODREJPROP 762450 -7.13 905.75 3.03
COLPAL 2671900 -7.08 1416.60 -0.18
UPL 9373000 -6.99 515.90 2.98
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.36 0.97
BANKNIFTY 0.67 1.05
RELIANCE 0.77 0.54
ICICIBANK 0.44 0.57
INFY 0.59 0.29
Historical Volatility
SCRIP HV
HCLTECH 46.72
APOLLOTYRE 52.91
TCS 39.64
ASHOKLEY 73.35
CUMMINSIND 41.80
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Technical & Derivatives Report
September 15, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot =
11440.05
FII Statistics for September 14, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4341.92
5170.87
(828.95) 131142
10371.99
9.00
INDEX
OPTIONS
179363.70
178955.77
407.93
885532
68189.09
9.49
177589.05
STOCK
FUTURES
15775.79
15675.82
99.97
1217333
85992.88
0.58
STOCK
OPTIONS
8696.94
8833.73
(136.79) 107686
7692.04
5.45
Total 208178.35
208636.19
(457.84) 2341693
172246.00
4.47
197578.59
Turnover on September 14, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,69,394 31149.60 10.49
Index Options
1,94,53,931 13,23,339.47 41.67
Stock Futures 8,61,758 66413.12 19.47
Stock Options
15,94,841 1,34,796.18 29.62
Total 2,23,79,924 15,55,698.37 -86.12
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11500 123.55
44.25 55.75 11544.25
Sell 11600 79.30
Buy 11500 123.55
75.65 124.35 11575.65
Sell 11700 47.90
Buy 11600 79.30
31.40 68.60 11631.40
Sell 11700 47.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11400 127.30
34.05 65.95 11365.95
Sell 11300 93.25
Buy 11400 127.30
57.85 142.15 11342.15
Sell 11200 69.45
Buy 11300 93.25
23.80 76.20 11276.20
Sell 11200 69.45
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000
Call Put
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Technical & Derivatives Report
September 15, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
339
346
350
356
360
ASIANPAINT 1,981 2,006
2,030
2,055
2,079
AXISBANK
428
434
445
451
462
BAJAJ-AUTO 2,854 2,906
2,947
2,999
3,040
BAJFINANCE 3,324 3,382
3,479
3,537
3,634
BAJAJFINSV 6,029 6,071
6,132
6,174
6,235
BPCL
405
411
420
426
436
BHARTIARTL
451
4
63
480
491
509
INFRATEL
196
199
203
206
209
BRITANNIA 3,657 3,688
3,742
3,773
3,827
CIPLA
711
716
723
729
736
COALINDIA
123
124
125
127
128
DRREDDY 4,287 4,326
4,375
4,413
4,462
EICHERMOT 2,119 2,139
2,169
2,189
2,218
GAIL
89
91
92
93
95
GRASIM
682
695
715
728
748
HCLTECH
707
751
788
832
869
HDFCBANK 1,026 1,042
1,068
1,084
1,110
HDFC
587
593
602
608
616
HEROMOTOCO 1,686 1,712
1,754
1,780
1,823
HINDALCO 2,925 2,977
3,008
3,060
3,091
HINDUNILVR
171
173
17
7
179
183
ICICIBANK 2,081 2,102
2,136
2,157
2,191
IOC
351
357
366
372
380
INDUSINDBK
82
82
83
84
84
INFY
595
602
611
618
627
ITC
930
954
973
997
1,015
JSW STEEL
181
182
184
185
187
KOTAKBANK
281
286
290
294
298
LT 1,270 1,287
1,318
1,335
1,366
M&M
886
894
909
917
931
MARUTI
601
608
619
626
636
NESTLEIND 6,997 7,063
7,151
7,217
7,306
NTPC 15,815
15,949
16,174
16,309
16,534
ONGC
89
90
91
92
93
POWERGRID
72
73
74
75
75
RELIANCE
167
169
173
176
180
SHREECEM 2,237 2,270
2,315
2,348
2,393
SBIN 19,273
19,531
19,758
20,016
20,243
SUNPHARMA
192
195
201
204
210
TCS
485
490
500
505
515
TATAMOTORS 2,336 2,414
2,460
2,537
2,584
TATASTEEL
143
146
148
151
154
TECHM
395
400
407
412
419
TITAN
759
775
786
802
812
ULTRACEMCO 1,159 1,173
1,183
1,197
1,206
UPL 3,845 3,880
3,925
3,959
4,004
VEDANTA
495
505
513
523
530
WIPRO
288
297
303
313
318
ZEEL
208
212
218
223
229
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Technical & Derivatives Report
September 15, 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