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February 17, 2021
Technical & Derivatives Report
Nifty
Bank Out
look
-
(
37098)
Post-Monday's strong upmove, the bank nifty started on a
positive note however it lacked follow-up buying and crept lower
for the major part of the session to mark an intraday low of
36762. Subsequently in the penultimate hour, some bounce back
was seen to eventually end with half percent loss at 37098.
Yesterday, we mentioned avoiding aggressive bets as the bank
index is in overbought territory, and on the same line, we
witnessed good profit booking in the heavyweight private
banking space. On the other hand, good traction was seen in
some of the PSU banks on the news of privatisation. Going
forward, we continue to remain cautious however we feel
individual stocks may continue to outperform, and hence traders
to stick with a stock-specific approach. As far as levels
are concerned, immediate support is placed around 36600 and
36100 whereas resistance is seen around 37500 and 37700
levels.
Key Levels
Support 1 – 36600 Resistance 1 – 37500
Support 2 – 36100 Resistance 2 – 37700
Exhibit 1: Nifty Daily Chart
Se
nsex
(
52104)
/ Nifty
(
15313
)
Yesterday morning, the global set up was just ideal to have a good
head-start at new record highs. In fact, the index managed to
extend gains in few minutes of trade to reach yet another
milestone of 15400. Everything looked hunky dory; but all of a
sudden market started correcting in the subsequent hour after
posting a new high of 15431.75. The profit booking aggravated at
the mid-session to test the sub-15250 mark. Fortunately the fall
got arrested and due to the modest recovery in the latter half, Nifty
ended the volatile session on a flat note.
Monday’s strong close coupled with favourable global cues in the
morning, our markets managed to carry their momentum at the
opening yesterday. However, since we reached a crucial resistance
zone of 15380 15500 (which is the 161% ‘Golden Ratio’ of the
entire fall from Jan’20 highs to March’20 lows), markets saw some
profit booking at higher levels. We were not surprised with it as we
had advocated on booking profits in the mentioned range. With
yesterday’s small correction, still there is no weakness visible on
charts; but we continue to remain cautious and advise against
creating aggressive longs now. For the coming session, 15380
15430 remains to be a key resistance; whereas on the lower side,
further weakness is possible after breaking below 15240. In this
scenario, 15175 – 15100 can be retested.
Exhibit 2: Nifty Bank Daily Chart
Traders are advised to keep a close eye on the above mentioned
levels and should ideally stay light on positions. Monday’s
charioteer banking space cooled off a bit yesterday along with
some of the other heavyweight pockets. However, the day clearly
belongs to some of the ‘Power’ stocks and ‘PSU’ names, who had a
smart move throughout the session.
Key Levels
Support 1 – 15240 Resistance 1 – 15380
Support 2 – 15175 Resistance2 – 15430
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February 17, 2021
Nifty Vs OI
12500
13000
13500
14000
14500
15000
15500
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
1/21 1/25 1/28 2/1 2/3 2/5 2/7 2/10
(`000)
Openinterest Nifty
View
We once again had a positive start for the day, follow-up
buying led index surpassing yet another important mark
15400. However, this gains were short lived as we saw
sharp profit booking to sneak below 15250 mark. Due to
some recovey in the final hour of trade led closing above
15300 mark.
FIIs were net buyers in equities, they bought to the tune of
Rs. 1144 crores. In index future segment, they sold worth
Rs. 607 crores with fall in open interest indicating addition
of long unwinding in yesterday’s session.
Yesterday, we witnessed decent profit booking in both
the indices. In options front, we saw some build-up in
15400 call options. In addition, we saw decent
unwinding in OTM put strikes. At current juncture, we
haven’t seen any meaningful change in data. Stronger
hands too preffered booking profits in index ad stock
futures. As far as levels are concerned, 15250-15300 is
an immediate support zone and on the higher side
15400-15500 shall act as hurdle. Traders are advised
avoiding any aggressive bet until we dont see any
relevant directional build-up in index.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 0.13%
Bank Nifty futures open interest has decreased by
12.55% as market closed at 15313.45 levels.
The Nifty February future closed with a premium of
16.80 point against a premium of 17.50 point in last
trading session. The March series closed at a premium of
63.20 point.
The INDIA VIX increased from 21.47 to 21.78.
At the same time, the PCR-OI of Nifty decreased from
1.57 to 1.29.
Few of the liquid counters where we have seen high cost
of carry are IOC, ADANIPORTS, TATAPOWER,
NATIONALUM and AXISBANK.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
JINDALSTEL 25755000 22.21 332.65 7.64
NAUKRI 844750 13.96 5095.20 -7.75
LUPIN 8517850 13.37 1096.75 3.76
NESTLEIND 359950 11.79 17217.60 -1.54
SIEMENS 852500 10.48 1831.50 -2.33
GODREJCP 3983000 9.85 721.15 -2.93
TCS 7384500 9.55 3108.85 -1.04
AMARAJABAT 3426000 9.11 907.90 -2.08
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
VOLTAS 2631000 -31.25 1037.60 -1.75
MFSL 3837600 -15.51 852.75 3.81
TORNTPOWER 4287000 -12.33 345.05 4.99
CONCOR 6523962 -8.88 537.15 -1.30
RBLBANK 24873300 -7.22 258.50 1.77
ICICIPRULI 8800500 -6.78 490.75 1.03
SRTRANSFIN 4703200 -6.46 1477.85 -2.13
AARTIIND 549950 -5.62 1227.90 0.93
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.29 0.96
BANKNIFTY 1.00 1.01
RELIANCE 0.49 0.42
ICICIBANK 1.11 0.67
INFY 0.46 0.47
Historical Volatility
SCRIP HV
POWERGRID 36.96
NAUKRI 57.82
TORNTPOWER 37.97
JINDALSTEL 74.70
ONGC 53.41
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Technical & Derivatives Report
February 17, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Spot =
15313.45
FII Statistics for February 16, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4517.47 5125.12 (607.65) 130893 14224.89 (3.01)
INDEX
OPTIONS
490430.38 486718.36 3712.02
1067224 115497.60 12.16
STOCK
FUTURES
15906.51 16676.78 (770.27) 1226327 108106.89 (0.25)
STOCK
OPTIONS
19662.66 19611.85 50.81
200578 17928.46 2.10
Total 530517.02
528132.11
2384.91
2625022
255757.84
4.49
Turnover on February 16, 2020
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,07,913 40966.21 31.54
Index Options 3,31,72,822
33,34,393.35 56.70
Stock Futures 8,83,882 84581.54 12.91
Stock Options 20,74,776
2,00,871.65 10.07
Total 3,65,39,393
36,60,812.75 51.50
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15300 186.70
53.10 46.90 15353.10
Sell 15400 133.60
Buy 15300 186.70
95.80 104.20 15395.80
Sell 15500 90.90
Buy 15400 133.60
42.70 57.30 15442.70
Sell 15500 90.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15200 156.40
37.20 62.80 15162.80
Sell 15100 119.20
Buy 15200 156.40
65.75 134.25 15134.25
Sell 15000 90.65
Buy 15100 119.20
28.55 71.45 15071.45
Sell 15000 90.65
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
14500
14600
14700
14800
14900
15000
15100
15200
15300
15400
15500
15600
15700
15800
Call Put
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Technical & Derivatives Report
February 17, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
621
629
636
644
651
ASIANPAINT 2,396 2,423
2,449
2,476
2,502
AXISBANK
748
762
780
794
812
BAJAJ-AUTO 4,091 4,112
4,145
4,166
4,198
BAJFINANCE 5,626 5,693
5,758
5,825
5,889
BAJAJFINSV 10,280
10,370
10,451
10,541
10,622
BPCL
413
415
419
422
425
BHARTIARTL
588
591
596
599
605
BRITANNIA 3,355 3,372
3,402
3,420
3,450
CIPLA
836
842
847
853
858
COALINDIA
131
132
134
135
137
DIVISLAB 3,637 3,662
3,691
3,715
3,744
DRREDDY 4,618 4,657
4,709
4,749
4,801
EICHERMOT 2,647 2,687
2,733
2,773
2,818
GAIL
131
132
134
135
136
GRASIM 1,211 1,227
1,242
1,259
1,274
HCLTECH
935
944
953
962
971
HDFCBANK 1,593 1,610
1,625
1,642
1,658
HDFCLIFE
678
687
695
704
712
HDFC 2,806 2,832
2,864
2,890
2,922
HEROMOTOCO 3,406 3,434
3,460
3,487
3,513
HINDALCO
287
295
301
309
315
HINDUNILVR 2,166 2,181
2,205
2,220
2,244
ICICIBANK
633
645
662
675
692
IOC
93
94
95
97
98
INDUSINDBK 1,010 1,034
1,065
1,089
1,121
INFY 1,265 1,278
1,299
1,311
1,332
ITC
215
216
219
221
224
JSW STEEL
393
400
411
418
429
KOTAKBANK 1,971 1,995
2,022
2,046
2,073
LT 1,519 1,534
1,554
1,569
1,589
M&M
892
902
912
922
932
MARUTI 7,533 7,615
7,707
7,789
7,881
NESTLEIND 16,827
17,022
17,334
17,529
17,841
NTPC
94
96
98
100
101
ONGC
97
100
103
106
108
POWERGRID
206
216
223
233
240
RELIANCE 2,014 2,037
2,058
2,081
2,102
SBILIFE
857
865
876
884
896
SHREECEM 28,041
28,319
28,705
28,983
29,368
SBIN
391
397
406
412
422
SUNPHARMA
618
625
630
636
641
TCS 3,058 3,083
3,125
3,151
3,193
TATAMOTORS
321
325
332
336
342
TATASTEEL
652
675
692
716
732
TECHM
960
974
987
1,000
1,013
TITAN 1,435 1,454
1,479
1,498
1,523
ULTRACEMCO 6,333 6,395
6,473
6,535
6,613
UPL
532
535
541
544
549
WIPRO
426
432
440
446
454
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Technical & Derivatives Report
February 17, 2021
*
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: deri[email protected]
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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]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com