www.angelbroking.com
Technical & Derivatives Report
April 17, 2020
Sensex (30603) / Nifty (8993)
Post Wednesday’s correction in the index from its highs, Nifty
started trading marginally lower in yesterday’s session. The index
managed to find support around 8800 and pulled back higher to
end the day with gains of a percent.
The index consolidated in a range in yesterday’s session post
some recovery from the support of 8800. The overall market
breadth was in favor of advances as except IT, stocks from most
of other sectors witnessed some positive momentum. The index
now seem to be undergoing a consolidation phase amidst a
stock specific action in the broader market. For the near term,
8800 is the crucial support to watch whereas 9260-9320 is the
immediate resistance zone. During such consolidation, traders
should adopt a strategy to look at potential outperforming
counters and take a stock specific approach. A move beyond the
above mentioned range of 8800 - 9320 could then lead to some
directional move. The Banking index had under-performed in
this pullback move so far which has immediate resistance around
20325. A breakout above the same is required for some quick
recovery to catch up for the recent under performance. The SGX
Nifty is indicating a big gap up opening and the follow up move
post the opening will be crucial.
Key Levels
Support 1 – 8800 Resistance 1 – 9260
Support 2 – 8650 Resistance 2 – 9320
Nifty Bank Outlook - (19400)
Yesterday, the banking index opened on a weaker note in line
with our benchmark. The BankNifty then consolidated at lower
levels during the initial hour; but all of a sudden strong buying
emerged in some of the heavyweight banking counters. This
resulted into banking index elevating at higher levels to conclude
with nearly couple of percent gains.
Of late, we have been witnessing sheer under performance from
the banking space, but yesterday clearly it turned out to be a
knight in the shining armour. The other heavyweight basket ‘IT’
was dragging market lower, but banking came to rescue and
managed to lift the overall sentiments in the market. Now,
19200-19000 becomes a sacrosanct support; whereas a
sustainable move above 19500 would extend the rally towards
20200-21000 levels.
Key Levels
Support 1 – 19200 Resistance 1 – 20200
Support 2 – 19000 Resistance 2 – 21000
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
www.angelbroking.com
Technical & Derivatives Report
April 17, 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
Vie
w
s
Yesterday, our markets started on a weak note and
after an initial dip it witnessed support around 8800
mark to pull back higher. Nifty ended with gains of
around a percent tad below 9000 levels
.
FIIs were net sellers in the cash market segment to the
tune of Rs. 2920 crores. In index futures they bought
worth 361 crores with increase in open interest
indicating fresh longs and short covering in yesterday’s
upmove.
FII's were net sellers in the cash segment whereas they
formed marginal longs in the index futures segment.
Their 'Long Short Ratio' is now around 50
percent versus about 30 percent at the start of this
series. Bank Nifty futures have witnessed open interest
addition in last couple of sessions. Hence, it would be
crucial to see how the banking index reacts in the near
term as it could lead the overall market momentum. In
the near term 8800 is the immediate support for the
Nifty.
C
omm
e
n
t
s
The Nifty futures open interest has increased by 2.26%
Bank Nifty futures open interest has increased by 6.39 %
as market closed at 8992.80 levels.
The Nifty April future closed with a premium of 42.65
points against a premium of 5 points in last trading
session. The May series closed at a premium of 58.55
points.
The INDIA VIX has decreased from 49.73 to 46.10.
At the same time, the PCR-OI of Nifty remained
unchanged at 1.27.
Few of the liquid counters where we have seen high cost
of carry are, IDEA, IBULHSGFIN, ADANIENT,
BANDHANBNK and ICICIPRULI.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPHARM 754500 24.81 2334.70 1.73
CHOLAFIN 5307500 22.50 159.40 4.32
IBULHSGFIN 11932800 22.39 106.30 17.87
VOLTAS 1488000 18.19 521.30 1.46
CANBK 8559200 17.95 85.85 -0.46
BALKRISIND 664000 16.41 903.70 3.84
INFRATEL 7336000 15.09 171.50 -0.97
CIPLA 12432650 12.89 600.45 1.61
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MFSL 781300 -16.87 426.70 7.73
APOLLOTYRE 4764000 -14.35 94.00 6.82
NCC 18045000 -9.44 26.90 5.69
GRASIM 17597250 -8.24 543.75 1.59
NTPC 39489600 -6.36 95.10 5.66
HINDUNILVR 12715500 -6.24 2436.10 -0.85
CUMMINSIND 1357200 -5.34 389.80 3.92
MOTHERSUMI 21700000 -4.68 81.50 14.70
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.27 0.94
BANKNIFTY 1.15 0.76
RELIANCE 0.81 0.64
ICICIBANK 0.80 0.70
INFY 0.89 1.20
Historical Volatility
SCRIP HV
L&TFH 147.13
IBULHSGFIN 183.04
MOTHERSUMI 166.06
NTPC 67.45
TATACHEM 75.93
www.angelbroking.com
Technical & Derivatives Report
April 17, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty
Spot = 8992.80
FII Statistics for April 16, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
7111.53
6750.89
360.64
137940
8528.84
2.11
INDEX
OPTIONS
269381.48
268544.83
836.65
454132
29756.29
(12.28)
STOCK
FUTURES
14561.87
13918.13
643.74
1447824
71714.92
0.82
STOCK
OPTIONS
1336.26
1366.82
(30.56) 34439
1642.11
7.85
Total 292391.14
290580.67
1810.47
2074335
111642.16
(2.19)
Turnover on April 16, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 6,56,158 33748.59 -7.68
Index Options 3,89,69,922
18,52,573.24 87.77
Stock Futures 8,74,340 42706.54 -19.57
Stock Options 5,18,571 26611.30 -20.94
Total 4,10,18,991
19,55,639.67 76.19
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9000 320.60
50.70 49.30 9050.70
Sell 9100 269.90
Buy 9000 320.60
95.50 104.50 9095.50
Sell 9200 225.10
Buy 9100 269.90
44.80 55.20 9144.80
Sell 9200 225.10
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9000 284.95
40.70 59.30 8959.30
Sell 8900 244.25
Buy 9000 284.95
75.90 124.10 8924.10
Sell 8800 209.05
Buy 8900 244.25
35.20 64.80 8864.80
Sell 8800 209.05
Nifty Put-Call Analysis
,0
200,000
400,000
600,000
800,000
1000,000
1200,000
1400,000
1600,000
1800,000
2000,000
8200 8300 8400 8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500
Call Put
www.angelbroking.com
Technical & Derivatives Report
April 17, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
255
262
266
273
277
ASIANPAINT 1,659 1,701
1,727
1,769
1,794
AXISBANK
390
407
417
433
443
BAJAJ-AUTO 2,221 2,277
2,321
2,378
2,422
BAJFINANCE 2,069 2,145
2,197
2,273
2,325
BAJAJFINSV 4,405 4,552
4,656
4,803
4,907
BPCL
341
348
357
364
372
BHARTIARTL
488
494
504
510
519
INFRATEL
161
166
171
176
181
BRITANNIA 2,770 2,803
2,849
2,882
2,928
CIPLA
568
584
598
615
629
COALINDIA
141
144
147
150
154
DRREDDY 3,734 3,797
3,844
3,907
3,954
EICHERMOT 12,824
13,098
13,316
13,589
13,808
GAIL
82
86
88
91
93
GRASIM
507
526
541
559
575
HCLTECH
445
452
464
472
483
HDFCBANK
841
860
876
895
910
HDFC 1,533 1,579
1,621
1,668
1,710
HEROMOTOCO
1,726
1,754
1,781
1,809
1,836
HINDALCO
112
116
119
123
126
HINDUNILVR 2,356 2,396
2,461
2,501
2,566
ICICIBANK
308
325
336
353
365
IOC
81
83
84
86
88
INDUSINDBK
401
418
430
447
459
INFY
589
607
621
638
652
ITC
182
184
188
190
193
JSW STEEL
164
167
171
174
178
KOTAKBANK 1,086 1,109
1,137
1,159
1,187
LT
851
881
901
931
950
M&M
336
346
353
364
371
MARUTI 4,852 4,991
5,110
5,249
5,368
NESTLEIND 16,700
17,298
17,650
18,247
18,599
NTPC
84
89
93
99
102
ONGC
72
74
75
77
78
POWERGRID
153
158
163
168
172
RELIANCE 1,124 1,146
1,167
1,189
1,209
SHREECEM 16,812
17,870
18,610
19,668
20,407
SBIN
177
183
186
192
196
SUNPHARMA
442
453
460
471
479
TCS 1,629 1,672
1,719
1,762
1,809
TATAMOTORS
69
72
74
76
78
TATASTEEL
270
279
286
295
302
TECHM
497
507
519
529
540
TITAN
882
934
966
1,018
1,050
ULTRACEMCO 3,436 3,488
3,527
3,578
3,617
UPL
350
356
363
369
376
VEDANTA
74
78
82
86
89
WIPRO
176
182
186
192
196
ZEEL
128
132
135
139
143
www.angelbroking.com
Technical & Derivatives Report
April 17, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: technicalrese[email protected]
For Derivatives Queries E-mail: derivati[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.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or
in connection with the use of this information.