www.angelbroking.com
Technical & Derivatives Report
December 15, 2020
Nifty
Bank Out
look
-
(
30746)
The banking index started off higher in tandem with our
benchmark index. Subsequently, we didn’t witness any follow up
move; in fact, it just went into a consolidation mode throughout
the remaining part of the session to conclude the day around its
opening point.
Clearly, there is not much action seen in key indices and the stock
specific move continued similar to last few day’s activity. If we
meticulously observe yesterday’s movement, market provided
trading opportunities on both sides within the banking space as
well. As a trader it would be an important thing to judge this
aspect. Going ahead, 30900-31100 remains to be an immediate
resistance zone, where one should look to lighten up longs. On
the lower side, 30700-30500 would be seen as crucial supports.
In this market, all eyes would be on key supports, because
whenever market enters a profit booking mode, one should
avoid longs after breaking such levels.
Key Levels
Support 1 – 30700 Resistance 1 – 30900
Support 2 – 30500 Resistance 2 – 31100
Exhibit 1: Nifty Daily Chart
Sensex (46254) / Nifty (13558)
Our markets started the week marginally higher following the
positive global cues. However, the index consolidated within a
range for most part of the day and managed to close with gains of
one-third of a percent.
The markets continued its momentum at the open and almost
tested the 13600 mark. However, it panned out to be a day of
consolidation as the indices then traded within a narrow range for
most part of the day. The broader trend continues to be positive
and there are no signs of reversal yet. However, the broader market
index is trading at its important juncture and hence, next few
sessions would be important to determine whether there would be
any pause to the ongoing upmove. The Nifty index has formed
back to back ‘Doji’ candles in the last couple of sessions. The
immediate supports for Nifty are placed around 13470 and 13400.
Any breach below these support would signal the possibility of an
immediate profit booking. Until then, once should continue to look
for stock specific trading opportunities. On the flipside, the
immediate resistances for the index are 13600 and 13670.
Key Levels
Support 1 – 13470 Resistance 1 – 13600
Support 2 – 13400 Resistance2 – 13670
Exhibit 2: Nifty Bank Daily Chart
www.angelbroking.com
Technical & Derivatives Report
December 15, 2020
Nifty Vs OI
12400
12600
12800
13000
13200
13400
13600
13800
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
11/20 11/24 11/26 12/1 12/3 12/7 12/9 12/11
(`000)
Openinterest Nifty
View
Post last week’s rally beyond 13500, we started off the
fresh week on a positive note and extended the rally
almost towards 13600 mark. As the day progressed,
market consolidated to concluded session 0.33%
higher to Friday’s session.
FIIs were net buyers in the cash segment to the tune
of Rs. 2264 crore. In index future segment, they sold
worth Rs. 812 crores with rise in open interest
indicating decent amount of short formation.
The open interest activity for indices remained muted
in yesterday’s session. In options front, build-up was
scattered between 13550 to 13900 call and
13300-13550 put options. Stronger hands continued
adding some shorts resulting their index futures ‘Long
Short Ratio’ decreased to 72%. As present, 13600
holds maximum open interest concentration and
hence, Nifty may find some hurdle around this mark.
On the downside, 13400-13450 is an immediate
support zone. Considering last two series rally and the
FIIs positions in index futures segment; we believe
market is now overbought. Thus, traders should look
to lighten up their longs in index and prefer trading in
individual counters.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 0.60%
Bank Nifty futures open interest has decreased by 0.18%
as market closed at 13558.15 levels.
The Nifty December future closed with a premium 13.45
point against a premium of 4.5 point in last trading
session. The January series closed at a premium of 51.45
point.
The INDIA VIX increased from 18.79 to 19.40.
At the same time, the PCR-OI of Nifty decreased from
1.52 to 1.47.
Few of the liquid counters where we have seen high cost
of carry are IDEA, BHEL, TATAPOWER , ZEEL and
NATIONALUM.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BATAINDIA 1262800 21.29 1627.90 4.27
EICHERMOT 2792300 14.46 2400.40 -2.78
HEROMOTOCO 4357200 12.48 3113.65 -2.27
POWERGRID 21316000 11.53 194.30 0.34
ESCORTS 3009050 9.35 1332.75 -1.95
BHARATFORG 5884500 5.80 541.15 -1.72
BAJAJFINSV 900750 5.61 8933.40 -0.63
WIPRO 33065600 5.16 349.35 -0.83
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LICHSGFIN 9156000 -11.76 363.60 2.98
ONGC 47231800 -8.84 101.50 4.58
MUTHOOTFIN 4770750 -6.10 1191.30 1.65
TORNTPOWER 4164000 -5.45 335.70 3.27
M&MFIN 17071648 -4.73 172.45 -0.26
JUBLFOOD 1707750 -4.67 2633.60 -0.64
TCS 6158100 -4.65 2797.70 0.42
HINDALCO 26371900 -4.40 246.35 1.21
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.47 0.96
BANKNIFTY 0.95 0.93
RELIANCE 0.53 0.41
ICICIBANK 0.77 0.32
INFY 0.55 0.39
Historical Volatility
SCRIP HV
LT 42.85
CIPLA 42.74
BATAINDIA 43.98
TORNTPOWER 37.84
SUNTV 50.59
www.angelbroking.com
Technical & Derivatives Report
December 15, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot =
13558.15
FII Statistics for December 14, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2421.68 3233.51 (811.83) 129633 12563.54 3.27
INDEX
OPTIONS
186886.72 186786.20 100.52
833429 79489.86 4.43
STOCK
FUTURES
10953.44 11203.38 (249.94) 1319423 104821.37 (0.20)
STOCK
OPTIONS
4682.53 4727.51 (44.98) 92096 7394.10 9.08
Total 204944.37
205950.60
(1006.23) 2374581
204268.87
1.91
Turnover on December 14, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,71,075 23432.54 -29.89
Index
Options
1,70,39,533
14,83,843.91
-6.89
Stock Futures
6,19,833 49804.74 -19.35
Stock
Options
11,32,931
93862.61 -17.04
Total
1,90,63,372
16,50,943.80
-8.38
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 13600 179.45
47.85 52.15 13647.85
Sell 13700 131.60
Buy 13600 179.45
86.55 113.45 13686.55
Sell 13800 92.90
Buy 13700 131.60
38.70 61.30 13738.70
Sell 13800 92.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 13500 166.25
34.05 65.95 13465.95
Sell 13400 132.20
Buy 13500 166.25
62.20 137.80 13437.80
Sell 13300 104.05
Buy 13400 132.20
28.15 71.85 13371.85
Sell 13300 104.05
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
12700 12800 12900 13000 13100 13200 13300 13400 13500 13600 13700 13800 13900 14000
Call Put
www.angelbroking.com
Technical & Derivatives Report
December 15, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
458
463
468
472
477
ASIANPAINT 2,508 2,528
2,541
2,561
2,574
AXISBANK
606
611
617
622
629
BAJAJ-AUTO 3,227 3,258
3,296
3,327
3,366
BAJFINANCE 4,820 4,860
4,887
4,926
4,954
BAJAJFINSV 8,794 8,864
8,965
9,035
9,137
BPCL
396
401
403
408
411
BHARTIARTL
495
499
505
510
516
BRITANNIA 3,714 3,745
3,769
3,800
3,824
CIPLA
769
779
786
796
803
COALINDIA
137
140
142
145
147
DIVISLAB 3,533 3,566
3,618
3,652
3,703
DRREDDY 4,908 4,965
5,010
5,067
5,112
EICHERMOT 2,347 2,374
2,419
2,446
2,492
GAIL
123
124
126
127
129
GRASIM
896
904
914
922
932
HCLTECH
851
862
869
880
886
HDFCBANK 1,356 1,364
1,376
1,384
1,396
HDFCLIFE
644
650
659
665
674
HDFC 2,251 2,277
2,296
2,322
2,341
HEROMOTOCO 3,035 3,074
3,144
3,183
3,253
HINDALCO
242
244
246
248
250
HINDUNILVR 2,338 2,354
2,373
2,389
2,408
ICICIBANK
514
520
524
530
534
IOC
94
95
96
97
98
INDUSINDBK
908
915
925
931
942
INFY 1,137 1,151
1,162
1,175
1,186
ITC
213
214
217
218
220
JSW STEEL
351
354
360
363
368
KOTAKBANK 1,881 1,910
1,928
1,958
1,976
LT 1,171 1,211
1,237
1,276
1,303
M&M
692
702
720
729
747
MARUTI 7,556 7,626
7,726
7,796
7,896
NESTLEIND 18,145
18,368
18,524
18,747
18,903
NTPC
102
103
104
106
107
ONGC
95
98
101
104
106
POWERGRID
191
192
195
197
199
RELIANCE 1,969 1,980
1,998
2,009
2,026
SBILIFE
842
846
852
856
862
SHREECEM 23,452
23,587
23,787
23,922
24,122
SBIN
270
272
274
276
278
SUNPHARMA
564
570
574
580
585
TCS 2,738 2,768
2,786
2,816
2,834
TATAMOTORS
174
176
179
181
183
TATASTEEL
617
622
630
635
644
TECHM
895
902
913
920
931
TITAN 1,435 1,449
1,459
1,474
1,484
ULTRACEMCO 4,966 5,020
5,050
5,104
5,134
UPL
427
435
439
447
451
WIPRO
343
346
350
354
358
www.angelbroking.com
Technical & Derivatives Report
December 15, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]king.com
For Derivatives Queries E-mail: derivat[email protected]
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]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com