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February 18, 2021
Technical & Derivatives Report
Nifty
Bank Out
look
-
(
36911)
Bank Nifty as well started on a mild negative note and slipped to
mark the intraday low of 36764. Subsequently, a bounce-back
was seen to recover the entire loss however in the second half the
bank nifty again slipped lower and consolidated to eventually end
with half a percent loss at 36910. It was more of a range-bound
session and the bank index ended with a small body candle.
During the last week, the 36600 - 36700 acted as stiff resistance,
and now in this week, the bank index for the last two sessions has
seen support around these levels. For the coming session, 36700
will be closely watched as a break below the same can drag bank
index further lower towards 36000 on the flip side, immediate
resistance is placed around yesterday's high at 37330 above
which the prices can retest all-time high levels. Traders are
advised to keep a tab on these levels and traders accordingly.
Key Levels
Support 1 – 36700 Resistance 1 – 37330
Support 2 – 36000 Resistance 2 – 37800
Exhibit 1: Nifty Daily Chart
Se
nsex
(
51704)
/ Nifty
(
15209
)
Markets had a slightly weak start yesterday as indicated by the SGX
Nifty. During the initial hour, the correction extended to test the
15200 mark. However, immediately in the subsequent hour, we
had a v-shaped recovery to recoup all gains to move towards
Tuesday’s close. Market then consolidated for some time before
resuming the downward move at the stroke of the mid-session. In
fact, the weakness persisted towards the fag end to close almost at
the lowest point of the day.
Since last couple of days, we have been advocating some caution
after reaching 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). On Tuesday, we had a minor profit taking from
high which extended yesterday to reach key support of 15200.
Going ahead, one should keep a close eye on how market behaves
around this level; because a breach of 15170 15150 would lead
to further correction towards 15075 15000 levels. On the flipside,
15245 – 15315 will now be seen as intraday hurdles.
Traders are continuously advised to remain a bit cautious at higher
levels and should start lightening up positions in the rally.
Although, individual stocks are still performing well; it’s a daunting
task to pick out such outperformers from the broader market.
Key Levels
Support 1 – 15170 Resistance 1 – 15245
Support 2 – 15150 Resistance2 – 15315
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
February 18, 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
It was indeed an volatile day for our market. We
witnessed decent selling pressure around 15300 mark.
Every attempt of recovery failed and eventually we
concluded the second consecutive session in red.
FIIs were net buyers in equities, they bought to the tune
of Rs. 1008 crores. In index future segment, they sold
worth Rs. 182 crores with good amount of fall in open
interest indicating blend of long unwinding and short
covering in yesterday’s session.
Yesterday, we witnessed addition of fresh shorts in
Nifty; whereas, long unwinding was seen in case of
BankNifty. In options front, fresh writing was seen in
15200-15300 call options. On the other side, decent
unwinding was seen in 15300 puts followed by some
build-up in 14950-15050 strikes. Stronger hands too
preferred lightening their positions in index futures
segment. Considering the shorts formation in nifty
along with writing in 15250-15300 puts, we believe
index may further correct in near term. As far as
levels are concerned, market may find hurdle around
15300; whereas, support is placed at 14900-15000.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 2.73%
Bank Nifty futures open interest has decreased by 8.73%
as market closed at 15208.90 levels.
The Nifty February future closed with a discount of 1.85
point against a premium of 16.80 point in last trading
session. The March series closed at a premium of 45.05
point.
The INDIA VIX decreased from 21.78 to 21.50.
At the same time, the PCR-OI of Nifty decreased from
1.29 to 1.17.
Few of the liquid counters where we have seen high cost
of carry are NATIONALUM, VEDL, SBIN, MOTHERSUMI
and HINDPETRO.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LALPATHLAB 165250 73.04 2594.25 8.84
PNB 238704000 19.17 41.70 5.42
BHEL 132636000 14.63 40.05 0.37
PAGEIND 107820 12.70 28308.70 -3.26
IDEA 1052520000 11.95 11.90 0.85
HINDPETRO 38672100 10.53 234.45 4.07
LUPIN 9208050 8.10 1063.40 -3.23
M&MFIN 16456000 6.80 218.40 -1.99
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPOWER 3567000 -16.79 345.45 0.03
BANKBARODA 85796100 -10.52 84.20 6.17
HAVELLS 3683000 -8.50 1194.50 -1.88
HINDALCO 29007800 -6.45 303.90 0.28
INDUSINDBK 24250500 -6.32 1033.20 -2.58
DLF 29082900 -6.30 314.90 -1.30
AARTIIND 516375 -6.11 1232.55 0.49
JUBLFOOD 1562000 -5.39 2881.80 0.05
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.17 0.91
BANKNIFTY 0.97 0.92
RELIANCE 0.50 0.40
ICICIBANK 1.05 0.56
INFY 0.44 0.48
Historical Volatility
SCRIP HV
LALPATHLAB 48.37
BANKBARODA 62.17
PNB 59.04
MOTHERSUMI 70.09
NESTLEIND 35.49
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Technical & Derivatives Report
February 18, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Spot =
15208.90
FII Statistics for February 17, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4275.15 4457.46 (182.31) 120689 13190.03 (7.80)
INDEX
OPTIONS
527632.49 527593.37 39.12
1098367 118327.71 2.92
STOCK
FUTURES
15705.36 16355.88 (650.52) 1230510 107967.20 0.34
STOCK
OPTIONS
16241.84 16337.78 (95.94) 203671 18236.97 1.54
Total 563854.84
564744.49
(889.65) 2653237
257721.91
1.07
Turnover on February 17, 2020
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,74,241 37838.52 -7.63
Index Options 3,99,80,339
40,22,022.75 20.62
Stock Futures 8,68,767 81956.10 -3.10
Stock Options 18,56,241
1,75,693.96 -12.53
Total 4,30,79,588
43,17,511.33 17.94
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15200 162.35
49.70 50.30 15249.70
Sell 15300 112.65
Buy 15200 162.35
88.40 111.60 15288.40
Sell 15400 73.95
Buy 15300 112.65
38.70 61.30 15338.70
Sell 15400 73.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15200 155.65
38.75 61.25 15161.25
Sell 15100 116.90
Buy 15200 155.65
68.65 131.35 15131.35
Sell 15000 87.00
Buy 15100 116.90
29.90 70.10 15070.10
Sell 15000 87.00
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700 15800
Call Put
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Technical & Derivatives Report
February 18, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
634
645
658
668
681
ASIANPAINT 2,335 2,362
2,408
2,435
2,481
AXISBANK
755
766
776
787
796
BAJAJ-AUTO 4,067 4,116
4,161
4,210
4,255
BAJFINANCE 5,596 5,650
5,725
5,779
5,854
BAJAJFINSV 9,879
10,032
10,266
10,419
10,652
BPCL
397
404
409
417
421
BHARTIARTL
585
590
594
598
603
BRITANNIA 3,331 3,348
3,376
3,393
3,421
CIPLA
819
828
841
849
863
COALINDIA
132
133
135
136
137
DIVISLAB 3,542 3,579
3,627
3,664
3,712
DRREDDY 4,500 4,550
4,630
4,680
4,760
EICHERMOT 2,649 2,672
2,709
2,732
2,769
GAIL
130
132
134
137
139
GRASIM 1,217 1,228
1,238
1,249
1,259
HCLTECH
930
937
948
954
965
HDFCBANK 1,558 1,572
1,597
1,611
1,636
HDFCLIFE
684
694
703
712
721
HDFC 2,748 2,777
2,817
2,845
2,885
HEROMOTOCO 3,408 3,496
3,545
3,634
3,683
HINDALCO
297
300
304
308
312
HINDUNILVR 2,134 2,149
2,175
2,190
2,217
ICICIBANK
642
649
657
665
673
IOC
94
95
95
96
96
INDUSINDBK
989
1,011
1,048
1,070
1,107
INFY 1,264 1,273
1,284
1,292
1,303
ITC
216
217
218
219
219
JSW STEEL
397
403
407
413
417
KOTAKBANK 1,940 1,965
1,994
2,019
2,048
LT 1,515 1,532
1,549
1,566
1,583
M&M
898
906
913
922
929
MARUTI 7,335 7,419
7,555
7,639
7,776
NESTLEIND 16,114
16,427
16,664
16,977
17,214
NTPC
96
98
99
101
102
ONGC
99
101
102
104
105
POWERGRID
219
224
228
233
237
RELIANCE 2,031 2,057
2,077
2,103
2,122
SBILIFE
864
870
877
884
890
SHREECEM 27,729
27,999
28,420
28,689
29,110
SBIN
394
403
409
418
424
SUNPHARMA
612
617
624
629
637
TCS 2,997 3,035
3,084
3,122
3,171
TATAMOTORS
321
326
330
334
339
TATASTEEL
680
688
696
704
712
TECHM
958
969
983
994
1,008
TITAN 1,431 1,446
1,464
1,479
1,498
ULTRACEMCO 6,298 6,359
6,452
6,512
6,605
UPL
518
529
536
546
553
WIPRO
422
426
433
437
443
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Technical & Derivatives Report
February 18, 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: de[email protected].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 ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com