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Technical & Derivatives
Report
April 16, 2020
Sensex (30380) / Nifty (8925)
After a mid week holiday, our markets started yesterday with a
gap up opening as hinted by the SGX Nifty. Nifty registered a
high around 9261 and witnessed profit booking in the later half
of the session. The index gave up all the gains and ended the
day with a loss of about three -fourths of a percent.
During the mid-week holiday, our government announced
extension of the ongoing lock down period. However, market
participants had anticipated such move in advance and hence, it
was already factored in due to which we did not see any impact
at opening. However, as mentioned in our yesterday’s report, the
immediate resistance of the index was seen around 9320 which
is the 38.2 percent retracement of the recent correction. Nifty
almost rallied towards that resistance (made high of 9261) and
then witnessed profit booking during later part of the day. If we
look at the sectorial participation in the recent upmove, then it is
seen that the Pharma and the FMCG space have outperformed
and have taken the leadership this time. Whereas the banking
space has been an under performer in this upmove as there is no
‘Higher Top Higher Bottom’ formation yet in Bank Nifty and this
index has just retraced about 23.6 percent of the recent
correction compared to 38 percent for Nifty.
.
Nifty Bank Outlook
-
(
19057
)
Bank Nifty as well started on a positive note, however after
making an intraday high of 20184 it witnessed profit booking to
not only give up the morning gains but to end with a loss of
2.21% at 19057.
On the daily chart, the bank index for the last four sessions has
faced stiff resistance around the 20200 mark and going ahead
next positive momentum can only be seen on a sustained trade
above the said levels. On the flip side, 18400 seems to be a
strong support zone. We sense the bank nifty is in a
consolidation between 18400 - 20200 and the next directional
move can only be seen on a range break from the mentioned
levels. Traders are advised to keep a tab on the mentioned levels
and trade accordingly.
Key Levels
Support 1 – 18400 Resistance 1 – 19800
Support 2 – 18000 Resistance 2 – 20200
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Traders are advised to watch for the outperforming counters and
trade in such names along with the momentum. As far as levels
are concerned, the immediate supports for Nifty are placed
around 8800 followed by 8650; whereas 9260-9320 would be the
immediate resistance to watch for.
Key Levels
Support 1 – 8800 Resistance 1 – 9260
Support 2 – 8650 Resistance 2 – 9320
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Technical & Derivatives Report
April 16, 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 4/15
(`000)
Openinterest Nifty
V
iew
s
In yesterday's session, the index opened on a positive
note with a gap up opening. However, we then
witnessed a sell-off in the last couple of hours due to
which , the indices gave up all the gains and ended on
a negative basis
.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1359 crores. In index futures they bought
worth 1283 crores with a decrease in open interest
indicating short covering and fresh longs created in
yesterday’s session.
FII's have covered some of their short positions in the
index futures segment yesterday. However, along with
the price correction, Bank Nifty futures witnessed open
interest addition of over 15 percent which indicates
short formation in that index futures. In the weekly
options segment (today's expiry), open interest
addition was seen in 9000 to 9400 call options. As per
the data, 9200-9400 is the immediate resistance for
the index. Decent open interest is seen the 9000 put in
weekly as well as monthly contract. Traders are advised
to observe how options writers react here as if we see
unwinding in this, then the index could see some
correction towards 8500 mark in the near term.
C
omm
e
n
t
s
The Nifty futures open interest has decreased by 3.91%
Bank Nifty futures open interest has increased by 15.43
% as market closed at 8925.30 levels.
The Nifty April future closed with a premium of 5 points
against a premium of 17.25 points in last trading
session. The May series closed at a premium of 16.95
points.
The INDIA VIX has decreased from 51.45 to 49.73.
At the same time, the PCR-OI of Nifty has decreased
from 1.39 to 1.27.
Few of the liquid counters where we have seen high cost
of carry are, ADANIPOWER, OIL, JUSTDIAL, SRF and
ADANIENT.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HINDUNILVR 13561200 44.82 2487.55 4.55
JUSTDIAL 1346800 19.35 316.20 -4.07
COLPAL 1824900 15.35 1388.30 2.05
AMARAJABAT 976000 15.31 511.20 2.84
PVR 1326400 15.14 1078.05 3.93
TATACHEM 1198800 11.37 240.05 1.11
HINDPETRO 12358500 11.29 208.45 0.99
RAMCOCEM 638400 10.37 516.75 2.09
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MFSL 939900 -33.06 395.90 11.85
NCC 19926000 -17.14 25.40 5.59
CUMMINSIND 1433700 -16.47 375.40 3.33
JSWSTEEL 25891100 -15.49 171.40 1.78
ACC 1698400 -14.57 1137.95 6.14
SHREECEM 141300 -12.02 18138.75 4.22
IDEA 292432000 -11.16 4.25 2.41
TORNTPOWER 1239000 -9.03 297.60 2.01
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.27 0.91
BANKNIFTY 0.82 0.90
RELIANCE 0.80 0.60
ICICIBANK 0.68 0.58
INFY 0.77 0.81
Historical Volatility
SCRIP HV
ACC 81.78
PIDILITIND 87.00
NAUKRI 113.44
MOTHERSUMI 157.97
MFSL 175.86
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Technical & Derivatives Report
April 16, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty
Spot = 8925
.30
FII Statistics for April 15, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
8326.01
7042.74
1283.27
135095
8156.75
(1.82)
INDEX
OPTIONS
177927.02
177833.66
93.36
517728
32920.15
9.07
STOCK
FUTURES
18739.56
18934.62
(195.06) 1436012
70130.91
0.85
STOCK
OPTIONS
2062.47
2114.43
(51.96) 31933
1497.78
10.68
Total 207055.06
205925.45
1129.61
2120768
112705.59
2.70
Turnover on April 15, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 6,91,934 36557.76 32.45
Index Options 1,90,43,116
9,86,628.98 84.47
Stock Futures 10,59,413 53099.56 37.42
Stock Options 6,43,262 33658.29 29.76
Total 2,14,37,725
11,09,944.59 77.02
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 8900 363.00
56.75 43.25 8956.75
Sell 9000 306.25
Buy 8900 363.00
108.00 92.00 9008.00
Sell 9100 255.00
Buy 9000 306.25
51.25 48.75 9051.25
Sell 9100 255.00
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 8900 333.40
41.55 58.45 8858.45
Sell 8800 291.85
Buy 8900 333.40
78.00 122.00 8822.00
Sell 8700 255.40
Buy 8800 291.85
36.45 63.55 8763.55
Sell 8700 255.40
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
8200 8300 8400 8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500
Call Put
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Technical & Derivatives Report
April 16, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
257
263
271
277
286
ASIANPAINT 1,660 1,689
1,713
1,742
1,766
AXISBANK
388
403
427
442
466
BAJAJ-AUTO 2,216 2,276
2,380
2,439
2,543
BAJFINANCE 2,040 2,111
2,240
2,311
2,439
BAJAJFINSV 4,397 4,498
4,581
4,682
4,765
BPCL
339
347
358
366
378
BHARTIARTL
486
498
517
529
548
INFRATEL
167
170
176
179
185
BRITANNIA 2,680 2,759
2,834
2,912
2,987
CIPLA
560
576
595
611
630
COALINDIA
143
145
148
150
154
DRREDDY 3,708 3,758
3,826
3,875
3,943
EICHERMOT 12,687
13,001
13,437
13,750
14,186
GAIL
84
85
88
89
91
GRASIM
503
519
546
562
589
HCLTECH
455
467
474
486
494
HDFCBANK
791
827
879
915
966
HDFC 1,505 1,551
1,630
1,676
1,756
HEROMOTOCO
1,708
1,766
1,870
1,928
2,032
HINDALCO
107
111
118
121
128
HINDUNILVR 2,327 2,407
2,462
2,542
2,597
ICICIBANK
308
318
335
345
362
IOC
81
82
84
85
88
INDUSINDBK
397
410
428
441
459
INFY
625
632
643
650
660
ITC
178
183
189
195
200
JSW STEEL
162
167
171
176
180
KOTAKBANK 1,082 1,128
1,199
1,245
1,317
LT
834
857
892
915
950
M&M
330
342
361
372
391
MARUTI 4,853 4,974
5,162
5,283
5,471
NESTLEIND 16,391
16,858
17,125
17,592
17,859
NTPC
85
88
91
93
96
ONGC
72
73
75
76
78
POWERGRID
155
157
161
163
166
RELIANCE 1,083 1,117
1,176
1,210
1,269
SHREECEM 16,839
17,489
18,018
18,668
19,197
SBIN
173
178
185
189
197
SUNPHARMA
416
433
461
477
505
TCS 1,674 1,705
1,758
1,789
1,843
TATAMOTORS
68
70
75
77
81
TATASTEEL
274
279
288
293
301
TECHM
518
528
538
549
559
TITAN
907
930
960
982
1,013
ULTRACEMCO 3,459 3,530
3,602
3,672
3,744
UPL
302
326
354
378
406
VEDANTA
74
76
80
82
85
WIPRO
181
184
189
192
196
ZEEL
121
128
135
141
149
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Technical & Derivatives Report
April 16, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]angelbroking.com
For Derivatives Queries E-mail: derivatives.des[email protected]gelbroking.com
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