www.angelbroking.com
Technical & Deriva
tives Report
September 16, 2020
Nifty
look
-
(
22466
)
In line with the benchmark index, Bank Nifty as well started on a
positive note however for the major part it consolidated with a lack
of clear trend. During the penultimate hours, all of sudden strong
buying was seen in heavyweight private bank stocks which pushed
bank nifty higher to eventually end at the high point with gains of
1.65% at 22466. For the last few sessions, we have been
advocating strong support for the bank index at 22000 levels, and
yesterday we mentioned that if any bounce has to come then it
will be from this support level. Quite similar to the last few
sessions, the bank nifty managed to defend the support levels and
for the first time in the last couple of weeks, the banking stocks
and bank index showed some performance. Now the immediate
resistance is placed around 22750 - 22800 that has acted as
resistance for the last few sessions however the way bank nifty
bounced during the last hour from the key support we sense the
prices may surpass the same to retest 23000 and beyond. On the
flip side, 22000 remains a sacrosanct level. Traders are advised to
focus on stocks from this basket as they are likely to give good
trading opportunities after its recent slumber phase.
Key Levels
Support 1 – 22100 Resistance 1 – 22800
Support 2 – 22000 Resistance 2 – 23000
Exhibit 1: Nifty Daily Chart
Se
nsex
(
39044)
/ Nifty
(
11522
)
The overnight rally in US markets had a rub off effect on almost all
major Asian bourses. Hence, we too started the day with a gap up
opening despite Monday’s shaky session. Subsequently, similar to
recent behaviour, index went into a consolidation mode and kept
flirting around the 11500 mark. However from nowhere, a strong
buying emerged in the banking conglomerates at the stroke of the
penultimate hour. This pushed Nifty higher to end convincingly
above 11500.
Indices seemed to have lost clear direction and are clearly trapped in
a range. On Monday, we witnessed strong sell off from higher levels
and yesterday, it was almost the reverse action. With yesterday’s late
surge in banking stocks, both Nifty as well as BankNifty are
interestingly poised. For Nifty, if 11570 is taken out, we would see
some extension towards 11625 - 11675 levels and if this has to
happen, the banking stocks needs to replicate yesterday’s move. On
the flipside, 11450 followed by 11380 are to be seen as key
supports.
.Key Levels
Support 1 – 11450 Resistance 1 – 11570
Support 2 – 11380 Resistance 2 – 11625
Exhibit 2: Nifty Bank Daily Chart
Yesterday for the second day, stocks from the broader market kept
buzzing. However, this is nowhere similar to mid n small cap rally
that we witnessed in previous couple of months. Hence, one needs
to pick the right stock and should keep booking timely profits. Apart
from this, Pharma stocks had a good first half yesterday after a brief
pause of nearly 2-3 weeks. We reiterate, one should follow stock
specific moves but avoid aggressive bets.
www.angelbroking.com
Technical & Derivatives Report
September 16,
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 9/15
(`000)
Openinterest Nifty
View
s
Nifty started on a positive note and then consolidated
within a range for the major part. Post the mid-session
buying in banking spaced pushed index higher to end
with gains of 0.72% at 11521.80.
FIIs were net buyers in cash market segment to the tune
of Rs. 1171 crores. In index futures, the activity was
muted as they bought worth Rs. 84 crores with no
relevant change in open interest
.
In yesterday's session, we witnessed some short
covering move in the Bank Nifty wherein the open
interest declined by more than 6 percent. FII's bought
equities worth more than 1100 crores while their activity
was muted in the futures segment. In options segment,
some unwinding was witnessed in 11500-11600 call
options whereas 11500-11400 put options added fresh
open interest. The options data hints at a trading range
of 11400-11600 and a breakout beyond the same could
then lead to some directional move. The Bank Nifty
index was short heavy and we witnessed short covering
near its support of 22000. Further covering could lead
to some upmove in stocks within the sector. Thus, we
continue with our are advise to look for stock specific
opportunities.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.95%
Bank Nifty futures open interest has decreased by 6.63%
as market closed at 11521.80 levels.
The Nifty September future closed with a premium of 5.6
point against a premium of 11.9 point in last trading
session. The October series closed at a premium of 18.4
point.
The INDIA VIX has decreased from 21.19 to 20.6.
At the same time, the PCR-OI of Nifty increased from 1.36
to 1.47.
Few of the liquid counters where we have seen high cost
of carry are JINDALSTEL, INDUSINDBNK, MRF, L&TFH
AND BOSCHLTD.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CUMMINSIND 2450400 26.36 484.05 2.59
SIEMENS 1990450 21.69 1237.70 0.60
IDEA 404740000 20.56 11.75 2.16
TORNTPHARM 993500 11.32 2850.45 2.23
TITAN 6111000 9.86 1174.55 -0.78
PVR 2014243 9.03 1264.75 -2.65
SAIL 51319000 8.13 39.45 -0.25
INDIGO 3658500 8.10 1343.60 1.84
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ESCORTS 2755500 -11.89 1229.80 -1.40
APOLLOHOSP 1142500 -10.46 1672.85 2.58
BALKRISIND 1561600 -7.31 1379.60 0.58
BAJFINANCE 5200250 -7.22 3513.45 1.97
ASHOKLEY 34389000 -7.01 77.85 4.08
APOLLOTYRE 8765000 -6.95 127.75 2.24
CADILAHC 9653600 -6.86 375.05 1.83
IGL 6655000 -5.98 419.85 2.45
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.47 0.90
BANKNIFTY 0.84 0.92
RELIANCE 0.80 0.55
ICICIBANK 0.45 0.52
INFY 0.62 0.33
Historical Volatility
SCRIP HV
LUPIN 46.92
IDFCFIRSTB 62.60
AMBUJACEM 45.71
CIPLA 43.34
CUMMINSIND 41.84
www.angelbroking.com
Technical & Derivatives Report
September 16,
2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot =
11521.80
FII Statistics for September 15, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3548.17
3464.07
84.10
131088
10469.66
(0.04)
INDEX
OPTIONS
185665.69
185157.67
508.02
870626
67306.93
(1.68)
177589.05
STOCK
FUTURES
13567.93
13869.21
(301.28) 1211829
86437.32
(0.45)
STOCK
OPTIONS
7215.14
7203.96
11.18
111115
8046.77
3.18
Total 209996.93
209694.91
302.02
2324658
172260.68
(0.73)
197578.59
Turnover on September 15, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,40,426 28667.21 -7.97
Index Options
2,08,86,775 13,84,112.90 4.59
Stock Futures 7,72,623 59197.85 -10.86
Stock Options
13,19,476 1,08,976.95 -19.15
Total 2,34,19,300 15,80,954.91 1.62
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11500 146.15
53.60 46.40 11553.60
Sell 11600 92.55
Buy 11500 146.15
92.60 107.40 11592.60
Sell 11700 53.55
Buy 11600 92.55
39.00 61.00 11639.00
Sell 11700 53.55
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11500 118.30
32.35 67.65 11467.65
Sell 11400 85.95
Buy 11500 118.30
56.20 143.80 11443.80
Sell 11300 62.10
Buy 11400 85.95
23.85 76.15 11376.15
Sell 11300 62.10
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
www.angelbroking.com
Technical & Derivatives Report
September 16,
2020
Da
ily
Pivot Level
s f
or
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
348
350
353
356
359
ASIANPAINT 1,985 2,001
2,025
2,042
2,066
AXISBANK
430
440
446
456
462
BAJAJ-AUTO 2,901 2,919
2,939
2,958
2,978
BAJFINANCE 3,428 3,471
3,498
3,540
3,567
BAJAJFINSV 5,969 6,042
6,101
6,174
6,232
BPCL
404
409
417
422
431
BHARTIARTL
463
475
481
492
499
INFRATEL
198
200
203
205
207
BRITANNIA 3,687 3,711
3,739
3,762
3,790
CIPLA
708
725
740
757
771
COALINDIA
123
123
1
25
125
127
DRREDDY 4,278 4,360
4,455
4,537
4,631
EICHERMOT 2,093 2,117
2,144
2,167
2,194
GAIL
90
91
92
93
94
GRASIM
704
712
718
726
732
HCLTECH
768
781
795
807
822
HDFCBANK 1,050 1,060
1,068
1,078
1,086
HDFC
585
590
596
600
607
HEROMOTOCO 1,725 1,742
1,760
1,776
1,794
HINDALCO 2,985 3,011
3,031
3,058
3,078
HINDUNILVR
172
174
177
179
182
ICICIBANK 2,095 2,110
2,123
2,138
2,151
IOC
361
366
369
375
378
INDUSINDBK
81
82
82
83
84
INFY
587
610
625
648
662
ITC
960
971
983
994
1,005
JSW STEEL
179
180
182
184
186
KOTAKBANK
285
287
291
293
297
LT 1,274 1,299
1,314
1,339
1,354
M&M
893
902
908
917
924
MARUTI
604
609
616
621
629
NESTLEIND 6,908 6,980
7,078
7,150
7,248
NTPC 15,919
15,980
1
6,073
16,134
16,227
ONGC
89
90
91
92
94
POWERGRID
73
73
74
74
75
RELIANCE
170
172
173
174
176
SHREECEM 2,273 2,296
2,311
2,334
2,349
SBIN 19,390
19,728
19,938
20,275
20,486
SUNPHARMA
196
198
199
202
203
TCS
489
497
505
514
521
TATAMOTORS 2,425 2,458
2,498
2,531
2,571
TATASTEEL
145
147
148
150
151
TECHM
399
402
406
409
413
TITAN
762
776
790
805
818
ULTRACEMCO 1,138 1,156
1,188
1,206
1,238
UPL 3,854 3,893
3,924
3,963
3,994
VEDANTA
510
520
526
536
542
WIPRO
299
303
307
311
316
ZEEL
214
216
218
220
222
www.angelbroking.com
Technical & Derivatives Report
September 16,
2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical & Derivatives Queries E-mail: [email protected]king.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]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com