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Technical & Derivatives Report
July 17, 2020
Nifty
Bank Out
-
(
21
597
)
Bank Nifty started trading on a positive note yesterday, however,
within a few minutes the index corrected and almost tested the
21000 mark. Fortunately, it then recovered slowly and rallied in
the later part to end the day with gains of over one percent.
The index had support around the 21000 mark and the same was
defended on the weekly expiry session. Also, a positive divergence
was seen on the hourly charts which led to this pullback move. As
of now, we expected the index to trade in the range of 21000-
22000 and hence, traders are advised to trade with a stock specific
approach. The intraday supports for the index are placed around
21200 and 21000 whereas resistances are seen around 21835 and
22000.
Key Levels
Support 1 – 21200 Resistance 1 – 21835
Support 2 – 21000 Resistance 2 – 22000
Exhibit 1: Nifty Hourly Chart
Se
nsex
(
36
47
2)
/ Nifty
(
10
740
)
Wednesday’s tail end correction was followed by yet another gap
up opening in our markets; courtesy to bumper opening in IT
Giant, Infy post its stellar quarterly numbers. However, once again
this hollow opening got sold into as markets cooled off in initial
trades. For the major part of the day, index traded on a flat to
positive note. All of a sudden, at the stroke of the penultimate
hour, the buying momentum accelerated to conclude the weekly
expiry well above 10700 mark by recouping major portion of
previous day’s losses.
Yesterday’s decent recovery from lower level was no surprise to us
as we had clearly advised staying hopeful as long as Nifty defends
a key support of 10550. Technically speaking, we were observing
a positive divergence in hourly time frame RSI-Smoothened
oscillator in Bank Nifty early in the morning. This became one of
the major catalysts in driving yesterday’s recovery. Now price-
wise, the hourly time frame chart exhibits a ‘Triangle’ pattern and
a move beyond 10775-10800 would lead to a breakout from this
price configuration.
Hence with continuation with our recent stance, we expect the
Nifty to surpass the 10850 quite soon. On the flipside, 10650
followed by 10550 has become a strong support zone. Traders
are advised to keep following individual stocks and trade with a
positive bias as long as 10550 remains intact.
Key Levels
Support 1 – 10650 Resistance 1 – 10800
Support 2 – 10550 Resistance 2 – 10850
Exhibit 2: Nifty Bank Hourly Chart
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Technical & Derivatives Report
July 17, 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
Vi
ew
s
Nifty started on a positive note yesterday led by the IT
space. The index traded in a range and ended the
session at the high point of the day.
FIIs were net sellers in the cash market segment to the
tune of Rs. 1091 crores. In index futures, they sold
worth 644 crores with increase in open interest
indicating short positions and long unwinding in
yesterday’s session
.
In last three trading sessions, 10550-10600 range has
acted as a support for the index. Nifty saw
formation of long positions along with price upmove
yesterday. While FII's continued to sell in the cash
segment, they formed marginal shorts yesterday in the
index futures segment too. Since last few sessions,
Nifty has consolidated within the range of 10550-
10900 and traders are advised to look for intraday
opportunities only and avoid aggressive trades in this
consolidation
.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 8.69%
Bank Nifty futures open interest has decreased by 4.57%
as market closed at 10739.95 levels.
The Nifty July future closed with a discount of 26.1 point
against a premium of 10.05 point in last trading session.
The August series closed at a discount of 17.7 point.
The INDIA VIX has decreased from 26.29 to 25.36
At the same time, the PCR-OI of Nifty increased from 1.15
to 1.35.
Few of the liquid counters where we have seen high cost
of carry are L&TFH, ESCORTS, NCC, IDEA, AND
NATIONALUM.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BRITANNIA 2052600 21.44 3854.70 3.48
MFSL 1716000 15.49 580.95 8.37
JINDALSTEL 19385000 14.20 177.00 6.48
INFRATEL 14238000 11.00 190.00 -6.85
M&MFIN 10686900 10.87 201.70 4.74
APOLLOTYRE 10805000 10.48 109.45 -2.01
MRF 17060 8.25 63536.20 -0.19
MUTHOOTFIN 4471500 7.70 1131.65 5.17
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NIITTECH 453750 -15.38 1652.75 -2.34
L&TFH 36658800 -11.56 59.75 -0.25
IDEA 323260000 -8.92 7.85 -8.67
INDIGO 2788000 -8.18 989.65 3.81
MINDTREE 1690400 -7.85 1008.85 2.16
LUPIN 8569700 -7.74 879.55 2.41
CHOLAFIN 6522500 -7.52 209.65 4.73
TATACHEM 3694000 -7.23 298.45 0.72
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.35 0.83
BANKNIFTY 0.94 0.72
RELIANCE 0.52 0.45
ICICIBANK 0.45 0.46
INFY 1.51 1.01
Historical Volatility
SCRIP HV
INFY 49.79
CIPLA 43.70
BPCL 60.76
MFSL 83.36
INFRATEL 77.66
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Technical & Derivatives Report
July 17, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot =
10739.95
FII Statistics for July 16, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
4390.95
5035.19
(644.24) 114554
8161.28
1.70
INDEX
OPTIONS
541090.45
537122.05
3968.40
637399
47332.29
(23.90)
STOCK
FUTURES
17245.77
16530.64
715.13
1300759
87480.15
(0.93)
STOCK
OPTIONS
5201.09
5241.86
(40.77) 115335
7875.73
(4.03)
Total 567928.26
563929.74
3998.52
2168047
150849.45
(9.04)
Turnover on July 16, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,15,349 32750.05 -14.51
Index Options
6,43,28,464
34,59,327.29
79.35
Stock Futures 8,74,246 62694.51 -7.48
Stock Options
12,13,023
95446.82 -17.31
Total 6,69,31,082
36,50,218.67
69.76
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 10800 145.25
42.25 57.75 10842.25
Sell 10900 103.00
Buy 10800 145.25
74.40 125.60 10874.40
Sell 11000 70.85
Buy 10900 103.00
32.15 67.85 10932.15
Sell 11000 70.85
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 10700 180.50
40.55 59.45 10659.45
Sell 10600 139.95
Buy 10700 180.50
74.10 125.90 10625.90
Sell 10500 106.40
Buy 10600 139.95
33.55 66.45 10566.45
Sell 10500 106.40
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000 11100 11200 11300
Call Put
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Technical & Derivatives Report
July 17, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
305
308
313
316
321
ASIANPAINT 1,626 1,660
1,678
1,712
1,730
AXISBANK
412
423
430
441
447
BAJAJ-AUTO 2,879 2,911
2,930
2,962
2,982
BAJFINANCE 3,061 3,133
3,174
3,246
3,287
BAJAJFINSV 5,988 6,127
6,203
6,342
6,418
BPCL
348
371
383
407
419
BHARTIARTL
548
555
561
568
574
INFRATEL
177
184
195
201
213
BRITANNIA 3,617 3,736
3,808
3,927
3,999
CIPLA
621
648
663
689
704
COALINDIA
123
125
126
128
130
DRREDDY 3,957 4,055
4,109
4,206
4,261
EICHERMOT 17,954
18,297
18,668
19,011
19,382
GAIL
93
95
96
98
100
GRASIM
572
578
585
591
598
HCLTECH
584
606
629
651
674
HDFCBANK 1,023 1,043
1,054
1,074
1,085
HDFC 1,733 1,760
1,778
1,80
5
1,822
HEROMOTOCO
2,572
2,644
2,684
2,756
2,796
HINDALCO
159
162
165
168
170
HINDUNILVR 2,219 2,253
2,272
2,307
2,326
ICICIBANK
337
341
345
349
352
IOC
81
83
84
86
87
INDUSINDBK
479
499
510
530
542
INFY
859
885
920
946
982
ITC
188
191
195
198
202
JSW STEEL
189
195
199
205
208
KOTAKBANK 1,245 1,284
1,306
1,345
1,367
LT
889
905
915
931
940
M&M
531
551
563
583
595
MARUTI 5,681 5,778
5,849
5,946
6,017
NESTLEIND 16,335
16,916
17,340
17,920
18,345
NTPC
84
86
87
88
90
ONGC
74
75
76
77
78
POWERGRID
157
160
162
165
167
RELIANCE 1,785 1,814
1,842
1,871
1,898
SHREECEM 20,889
21,310
21,671
22,092
22,453
SBIN
180
183
185
188
190
SUNPHARMA
483
492
499
507
514
TCS 2,150 2,192
2,263
2,305
2,376
TATAMOTORS
99
101
103
104
106
TATASTEEL
325
333
340
348
355
TECHM
558
579
609
630
660
TITAN
928
944
959
976
990
ULTRACEMCO 3,696 3,756
3,795
3,855
3,894
UPL
415
424
433
442
451
VEDANTA
104
106
108
111
113
WIPRO
248
255
262
269
275
ZEEL
151
154
158
161
165
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Technical & Derivatives Report
July 17, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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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 ru[email protected]gelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com