www.angelbroking.com
Technical & Derivatives Report
July 16, 2020
Nifty
Bank Out
-
(
21341
)
Bank Nifty too started the session on a positive note yesterday and
pulled higher towards 22000 mark, However, it started correcting
post noon and continued its underperformance to end the day on
a negative note.
If we look at the intraday chart, it is seen that Bank Nifty retraced
by 38.2 percent of last few day's correction and resisted around
the 22000 mark. In last few day's, Bank Nifty has underperformed
the Nifty post the breakdown from the 'Rising Wedge' pattern. For
today's session, 21000 followed by 20800 are the supports
whereas resistances are seen around 21780 and 22000. Traders
are advised to trade with a stock specific approach at the moment
from the banking space and avoid aggressive trades.
Key Levels
Support 1 – 21000 Resistance 1 – 21780
Support 2 – 20800 Resistance 2 – 22000
Exhibit 1: Nifty Daily Chart
Se
nsex
(
36052)
/ Nifty
(
10618
)
On Tuesday, we had a painful session after few weeks of consistent
rally. But things were completely different yesterday morning, due
to massive overnight rally in US bourses. Our markets opened with
a decent bump up which was then followed by an extension of the
rally to go beyond the 10800 mark. However, post the Reliance
AGM, markets took a complete nosedive due to heavy profit
taking in RIL from record highs. Within no time, whopping gains
of 200 points on Nifty just disappeared to conclude the day with
negligible gain.
In the morning, the initial up move was mainly on the back of
global peers but from there the gains extended due to spectacular
move in IT giant, INFY followed by peers. The RIL was also
contributing heavily in this; but post its AGM in latter half, the
stock prices fell like a pack of cards, which turned out to be a
spoilsport. If we look at the hourly chart of Nifty, yesterday’s price
activity was a replica of what happened in US markets on Monday.
But we must not dishearten by this because if our markets are
following this pattern, then US markets have regained strength in
last couple of days and are poised for a good move. Thus we still
remain hopeful as long as Nifty remains above 10550 on a
sustainable basis.
A move below this would certainly apply immediate brakes on the
recent rally to see some correction in the market. Till then 10725-
10850 can again be retested.
Key Levels
Support 1 – 10550 Resistance 1 – 10725
Support 2 – 10500 Resistance 2 – 10850
Exhibit 2: Nifty Bank Hourly Chart
www.angelbroking.com
Technical & Derivatives Report
July 16, 2020
Nifty Vs OI
10200
10300
10400
10500
10600
10700
10800
10900
10,000
10,500
11,000
11,500
12,000
12,500
13,000
13,500
14,000
7/1 7/2 7/3 7/6 7/7 7/8 7/9 7/10 7/13 7/14 7/15
(`000)
Openinterest Nifty
Vie
w
s
After a positive opening, Nifty traded with positive bias
for the most part of the session. However, in the
penultimate hour sell-off was seen which erased most
of the gains to end at 10618.20.
FIIs were net sellers in the cash market segment to the
tune of Rs. 222 crores. In index futures, they bought
worth 1590 crores with decrease in open interest
indicating short covering and some long formations in
yesterday’s session
.
Post the gap up opening, Nifty rallied higher to surpass
the 10800 mark, however, the index corrected in the
later half to end with negligible gains. Nifty witnessed
unwinding of positions as open interest decreased by
over 11 percent. FII's covered some of their short
positions in the index futures segment post the
positive opening. In options segment, 10700 call saw
unwinding in positions while 10800 call added fresh OI.
The options data indicates resistance at 10800 while
supports are placed around 10600 and 10500
.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 10.82%
Bank Nifty futures open interest has decreased by 1.55%
as market closed at 10618.20 levels.
The Nifty July future closed with a premium of 10.05 point
against a premium of 6.5 point in last trading session. The
August series closed at a premium of 17.85 point.
The INDIA VIX has decreased from 26.64 to 26.29
At the same time, the PCR-OI of Nifty increased from 1.14
to 1.15.
Few of the liquid counters where we have seen high cost
of carry are MINDTREE, JUSTDIAL, GLENMARK, NCC, AND
MANAPPURAM.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
L&TFH 41452800 21.46 60.85 -5.59
GLENMARK 6175500 20.13 415.80 1.69
NIITTECH 536250 19.77 1688.35 9.32
WIPRO 33324800 13.71 262.75 16.72
MRF 15760 11.61 63671.95 -0.98
JUSTDIAL 1353800 10.26 370.65 -0.53
BHEL 52878000 9.91 36.80 -5.39
UPL 12442300 8.48 437.65 0.00
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MINDTREE 1834400 -14.02 975.50 0.73
TECHM 14192400 -8.15 615.30 3.16
CANBK 13080000 -7.92 101.40 -0.50
VOLTAS 3076000 -7.88 544.30 -0.67
SIEMENS 2188450 -7.03 1157.15 2.31
MGL 1093800 -6.32 980.35 -1.01
JUBLFOOD 2015500 -5.49 1720.70 3.92
PETRONET 13194000 -5.48 256.15 -1.27
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.15 0.87
BANKNIFTY 0.61 0.86
RELIANCE 0.54 0.42
ICICIBANK 0.45 0.41
INFY 1.07 0.51
Historical Volatility
SCRIP HV
WIPRO 47.41
NIITTECH 72.61
INFY 48.33
BHARTIARTL 51.05
HCLTECH 47.32
www.angelbroking.com
Technical & Derivatives Report
July 16, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot =
10618.20
FII Statistics for July 15, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5769.55
4179.93
1589.62
112642
7798.09
(9.15)
INDEX
OPTIONS
386562.86
386775.00
(212.14) 837588
58501.90
4.87
STOCK
FUTURES
16127.15
15987.80
139.35
1312991
87298.61
0.01
STOCK
OPTIONS
7185.19
7302.08
(116.89) 120178
8059.82
3.60
Total 415644.75
414244.81
1399.94
2383399
161658.42
1.36
Turnover on July 15, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,85,876 38309.70 6.93
Index Options
3,24,80,040
19,28,780.45
44.40
Stock Futures 9,28,749 67762.08 23.37
Stock Options
14,01,411
1,15,421.15 37.66
Total 3,53,96,076
21,50,273.38
42.38
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 10600 211.60
48.80 51.20 10648.80
Sell 10700 162.80
Buy 10600 211.60
91.70 108.30 10691.70
Sell 10800 119.90
Buy 10700 162.80
42.90 57.10 10742.90
Sell 10800 119.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 10600 187.50
40.20 59.80 10559.80
Sell 10500 147.30
Buy 10600 187.50
71.15 128.85 10528.85
Sell 10400 116.35
Buy 10500 147.30
30.95 69.05 10469.05
Sell 10400 116.35
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000 11100 11200 11300
Call Put
www.angelbroking.com
Technical & Derivatives Report
July 16, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
306
311
318
322
329
ASIANPAINT 1,633 1,652
1,683
1,702
1,733
AXISBANK
410
418
431
440
453
BAJAJ-AUTO 2,877 2,910
2,932
2,965
2,987
BAJFINANCE 3,014 3,082
3,190
3,257
3,365
BAJAJFINSV 5,900 6,034
6,237
6,371
6,574
BPCL
359
364
373
379
388
BHARTIARTL
541
553
571
582
600
INFRATEL
197
200
206
210
216
BRITANNIA 3,671 3,697
3,738
3,764
3,804
CIPLA
628
633
638
643
649
COALINDIA
126
127
128
129
130
DRREDDY 3,928 3,982
4,015
4,069
4,102
EICHERMOT 18,008
18,285
18,742
19,019
19,476
GAIL
95
96
98
99
101
GRASIM
573
581
594
602
615
HCLTECH
576
596
612
631
647
HDFCBANK 1,032 1,043
1,061
1,071
1,090
HDFC 1,758 1,774
1,798
1,814
1,838
HEROMOTOCO
2,571
2,609
2,645
2,683
2,719
HINDALCO
162
164
166
168
170
HINDUNILVR 2,211 2,243
2,267
2,299
2,323
ICICIBANK
336
341
349
354
362
IOC
84
85
86
87
88
INDUSINDBK
483
493
510
521
538
INFY
771
801
825
855
878
ITC
192
195
198
201
203
JSW STEEL
190
192
196
199
203
KOTAKBANK 1,262 1,276
1,294
1,308
1,326
LT
900
906
916
922
931
M&M
534
542
551
559
568
MARUTI 5,687 5,744
5,812
5,869
5,937
NESTLEIND 16,528
16,718
16,931
17,121
17,334
NTPC
87
87
89
89
91
ONGC
74
75
77
78
79
POWERGRID
161
162
164
166
168
RELIANCE 1,693 1,768
1,874
1,949
2,054
SHREECEM 21,432
21,638
21,956
22,162
22,480
SBIN
179
181
186
188
193
SUNPHARMA
488
492
496
499
503
TCS 2,146 2,190
2,225
2,269
2,304
TATAMOTORS
100
102
104
106
108
TATASTEEL
333
336
341
345
350
TECHM
588
602
616
630
644
TITAN
950
959
972
981
995
ULTRACEMCO 3,750 3,785
3,808
3,843
3,865
UPL
425
431
437
443
449
VEDANTA
107
108
109
110
112
WIPRO
222
242
255
276
289
ZEEL
152
156
162
167
173
www.angelbroking.com
Technical & Derivatives Report
July 16, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical & Derivatives Queries E-mail: [email protected]lbroking.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