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Technical & Derivatives Report
March 18, 2020
Nifty Bank Outlook - (22155)
Post a marginal positive opening, the banking space
remained under pressure as the index heavyweight from this
space did not witness any pullback during the day. Infact, a
sharp sell-off was seen in all the banking heavyweights which
led to a sharp cut of about 1000 points in the BankNifty at
end. The near term trend continued to be negative and in this
downmove, the earlier outperformers too have witnessed a
sharp sell off. As of now, the trend remains negative and
hence, we continue with our advice for short term traders to
stay light on positions.
Key Levels
Support 1 – 21800 Resistance 1 – 23000
Support 2 – 21350 Resistance 2 – 23450
Exhibit 1: Nifty Daily Chart
Sensex (30579) / Nifty (8967)
Looking at the positive U.S. Futures market, our markets
started trading marginally positive yesterday. However, post
consolidating in a range, the broader markets again
witnessed selling pressure in the later half and ended the
session with a cut of two and a half percent.
The downtrend continues for our markets as the index
corrected sharply and ended below the 9000 mark. As
mentioned in our previous articles, the volatility index
continues to remain too high and until we see a cool-off in
the same, the pull back moves are unlikely to sustain. We
witnessed further upmove in the volatility index which ended
tad below 63 and it continues to be a sign of worry. Hence,
we continue with our recent advice for traders to stay on the
sidelines and avoid taking high risk bets.
Key Levels
Support 1 – 8740 Resistance 1 – 9285
Support 2 – 8550 Resistance 2 – 9410
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
March 18, 2020
Nifty Vs OI
0
2000
4000
6000
8000
10000
12000
14000
,0
5,000
10,000
15,000
20,000
25,000
2/25 2/27 3/2 3/4 3/6 3/11 3/13 3/17
(`000)
Openinterest Nifty
Vi
e
ws
Post a positive opening, the pullback move was sold
into and the indices continued the downmove to
close below the 9000 mark.
FIIs were net sellers in the cash market segment to the
tune of Rs. 4045 crores. In index futures, they bought
worth Rs. 859 crores with decrease in open interest,
indicating short covering and some fresh longs in
yesterday’s session.
Fii's continued to sell equities in cash segment.
However, in last few sessions they have not been net
sellers in index futures and have covered some of their
existing short positions due to which their long short
ratio now stands at 31.5%. Due to high volatility, we
can see wild swings in the indices and until we see a
fall in the India VIX, such volatility is likely to continue.
Traders are advised to keep a tab on the volatility
index and look for trading opportunities only if we see
some reversal in the same..
Co
m
ment
s
The Nifty futures open interest has decreased by 2.95%
Bank Nifty futures open interest has increased by 1.41%
as market closed at 8967.05 levels.
The Nifty March future closed with a discount of 51.45
points against a discount of 78.95 points in last trading
session. The April series closed at a discount of 17.20
points.
The INDIA VIX has increased from 58.88 to 62.92.
At the same time, the PCR-OI of Nifty has increased
from 0.99 to 1.03.
Few of the liquid counters where we have seen high cost
of carry are IDEA, WIPRO, BOSCHLTD, RECLTD and ZEEL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HDFCLIFE 5810400 14.94 464.90 -2.07
IDFCFIRSTB 187620000 12.61 25.25 -6.86
ZEEL 23981900 9.04 133.10 -19.99
BANDHANBNK 6793200 8.49 257.75 -6.30
DRREDDY 1964500 6.62 2781.30 -1.50
JUSTDIAL 2233000 5.70 311.45 -8.10
UPL 13670100 5.44 350.85 -6.85
TVSMOTOR 4514400 5.36 385.15 4.75
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
YESBANK 178235200 -15.84 58.65 70.83
ACC 2369600 -13.63 1124.55 -0.70
IDEA 695800000 -10.73 4.85 -14.78
UJJIVAN 3587000 -10.56 209.95 -15.02
BIOCON 7983300 -10.10 263.25 -1.65
CANBK 12214800 -9.93 99.20 -0.66
VOLTAS 2130000 -9.82 595.40 -0.91
TORNTPOWER 2214000 -9.56 281.35 2.13
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.03 0.59
BANKNIFTY 0.43 0.40
RELIANCE 0.34 0.53
ICICIBANK 0.38 0.58
INFY 0.52 0.74
Historical Volatility
SCRIP HV
MANAPPURAM 112.93
ZEEL 149.03
UJJIVAN 123.28
CENTURYTEX 120.78
PIDILITIND 54.75
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Technical & Derivatives Report
March 18, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot
=
8967.05
FII Statistics for March 17, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
8822.51
7963.05
859.46
255726
16141.50
(1.54)
INDEX
OPTIONS
110930.16
111212.44
(282.28) 975973
62620.73
2.78
STOCK
FUTURES
18734.27
17380.50
1353.77
1479949
72358.96
(1.06)
STOCK
OPTIONS
2247.63
2347.20
(99.57) 70549
3478.31
0.75
Total 140734.57
138903.19
1831.38
2782197
154599.50
0.25
Turnover on March 17, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 7,36,349 43655.35 -1.23
Index Options 1,07,69,920 6,64,395.33 29.86
Stock Futures 10,55,209 51069.49 -5.07
Stock Options 6,63,567 36651.37 1.27
Total 1,32,25,045 7,95,771.54 23.22
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9000 458.60
44.85 55.15 9044.85
Sell 9100 413.75
Buy 9000 458.60
98.90 101.10 9098.90
Sell 9200 359.70
Buy 9100 413.75
54.05 45.95 9154.05
Sell 9200 359.70
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9000 551.95
35.40 64.60 8964.60
Sell 8900 516.55
Buy 9000 551.95
79.65 120.35 8920.35
Sell 8800 472.30
Buy 8900 516.55
44.25 55.75 8855.75
Sell 8800 472.30
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
8400 8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700
Call Put
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Technical & Derivatives Report
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
253
260
272
279
290
ASIANPAINT 1,617 1,674
1,727
1,784
1,837
AXISBANK
445
467
499
521
553
BAJAJ-AUTO 2,175 2,223
2,298
2,345
2,420
BAJFINANCE 3,194 3,320
3,527
3,652
3,860
BAJAJFINSV 6,600 6,809
7,165
7,374
7,731
BPCL
334
346
366
377
397
BHARTIARTL
423
439
460
476
497
INFRATEL
176
185
200
209
224
BRITANNIA 2,590 2,638
2,717
2,765
2,844
CIPLA
374
388
405
419
436
COALINDIA
135
140
148
153
161
DRREDDY 2,668 2,725
2,814
2,871
2,961
EICHERMOT 16,180
16,621
17,040
17,481
17,900
GAIL
68
71
76
79
84
GRASIM
532
544
565
576
597
HCLTECH
422
436
458
472
493
HDFCBANK
925
950
980
1,005
1,035
HDFC 1,659 1,707
1,789
1,837
1,918
HEROMOTOCO
1,686
1,764
1,834
1,911
1,981
HINDALCO
110
113
117
120
124
HINDUNILVR 1,879 1,941
2,015
2,077
2,151
ICICIBANK
335
351
380
396
424
IOC
86
88
91
92
95
INDUSINDBK
510
557
632
679
754
INFY
524
539
566
581
608
ITC
141
145
150
155
160
JSW STEEL
163
170
182
188
200
KOTAKBANK 1,243 1,283
1,343
1,383
1,443
LT
902
930
967
994
1,032
M&M
346
360
384
398
422
MARUTI 5,373 5,488
5,618
5,733
5,863
NESTLEIND 13,996
14,268
14,523
14,795
15,050
NTPC
81
84
90
94
100
ONGC
58
59
61
62
64
POWERGRID
148
155
163
170
177
RELIANCE
967
987
1,024
1,044
1,081
SBIN
201
208
219
226
237
SUNPHARMA
345
358
377
389
408
TCS 1,563 1,610
1,671
1,718
1,779
TATAMOTORS
73
75
80
83
88
TATASTEEL
263
273
290
300
317
TECHM
564
580
599
615
634
TITAN
945
973
1,006
1,033
1,066
ULTRACEMCO 3,380 3,425
3,500
3,545
3,620
UPL
321
336
358
373
395
VEDANTA
71
73
77
79
83
WIPRO
162
167
176
182
191
YESBANK
31
45
55
69
79
ZEEL
107
120
145
158
182
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Technical & Derivatives Report
March 18, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]angelbroking.com
For Derivatives Queries E-mail: derivatives.d[email protected]
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