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March 18, 2021
Technical & Derivatives Report
Nifty
Bank Out
look
-
(
34229)
Yesterday the banking index had a flat to positive start in line
with the benchmark. However similar to previous sessions, it
failed to sustain at higher levels. In fact the selling augmented
as the day progressed and eventually due to last hour
extended sell off, the BANKNIFTY ended the session with
slightly less than a couple of percent cut.
The banking space has been the weakest link and day before
yesterday, we witnessed banks dragging the market lower.
Due to follow through correction in some of the heavyweights
banking counters, the index has finally slipped below 34500
on a closing basis. This certainly does not bode well for the
bulls and hence, any bounce back from hereon towards
34500-35000 should be used to lighten up longs. On the
flipside, further weakness could drag the BANKNIFTY towards
33900 - 33500 levels.
Key Levels
Support 1 – 33900 Resistance 1 – 34500
Support 2 – 33500 Resistance 2 – 35000
Exhibit 1: Nifty Daily Chart
Se
nsex
(
49802)
/ Nifty
(
14721
)
The Nifty started the session around 14950 mark. Post some
correction in the first hour of trade, it witnessed a pullback
towards the opening level. However, the bounce got sold into
and the index then corrected till the end of the session to post a
loss of about 200 points and end tad above 14700 mark.
The corrective phase continues for our markets and post some
consolidation, the broader markets too were seen under
pressure ahead of the U.S. Fed Policy. The last hour correction in
the banking index resulted into further pressure and lack of
buying interest is now clearly resulting into a price wise
correction as well. Nifty has ended around 14700 which is a
crucial point now and a breach of this could then lead to a
continuation of price wise correction towards 14500. On the
flipside, 14850 - 14900 becomes the immediate hurdle now.
Key Levels
Support 1 – 14630 Resistance 1 – 14850
Support 2 – 14500 Resistance2 – 14900
Exhibit 2: Nifty Bank Daily Chart
The Banking index has undergone a consolidation phase in last
one month and the index has breached below its support. On
the other hand, the Nifty midcap index too ended below its ‘20
DEMA’ indicating profit booking in this space after a
stupendous rally. Amongst other indices, Auto index too is
indicting signs of weakness and looking at the above scenarios,
we continue with our advice to avoid aggressive trades and
look for stock specific trading opportunities.
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Technical & Derivatives Report
March 18, 2021
Nifty Vs OI
14000
14200
14400
14600
14800
15000
15200
15400
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
2/23 2/25 3/1 3/3 3/5 3/9 3/12 3/17
(`000)
Openinterest Nifty
View
We began yesterday’s session on a slightly positive
note
and fresh selling got attracted post opening. As
the day progressed index corrected further to test
14700. Finally, we concluded the session with a cut of
1.27% to previous day’s close
FIIs were net buyers in the cash segment to the tune
of Rs. 2625 crores. In Index Future segment, they sold
marginally with decent rise in open interest
indicating adding of mixed positions.
In F&O space, once again we saw open interest
reduction in Nifty; whereas, shorts were formed in
case of banking index
. As far as options activities are
concerned, fresh writing was seen in 14800-14900 call
options now. On the flip side, we witnessed decent
unwinding in 14750, 14900 and 15000 put strikes.
Highest open interest concentration in weekly series has
shifted lower to 15000 from 15200; whereas, for puts
remains intact in 14500 strike. Considering recent price
action and consistant writing in calls, we expect further
selling pressure towards 14500. Thus, traders are
advised avoiding any fresh longs and should utilize any
pullback move towards 14800-14900 to buy slightly
OTM puts.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 2.93%
Bank Nifty futures open interest has increased by 1.00%
as market closed at 14721.30 levels.
The Nifty March future closed with a premium of 50.00
point against a premium of 49.25 point in last trading
session. The April series closed at a premium of 125.25
point.
The INDIA VIX decreased from 20.19 to 20.15.
At the same time, the PCR-OI of Nifty decreased from
0.92 to 0.87.
Few of the liquid counters where we have seen high cost
of carry are ULTRACEMCO, ICICIPRULI, HCLTECH, LT and
GODREJCP.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
RBLBANK 21088800 13.96 223.40 -4.92
ICICIPRULI 9754500 9.33 426.55 -3.84
RAMCOCEM 1755250 9.26 950.95 -4.71
NESTLEIND 317650 8.23 16455.80 -1.73
AMARAJABAT 3197000 7.90 865.95 -3.02
GODREJCP 6318000 7.85 660.80 -2.82
BPCL 47590200 7.02 432.05 -5.16
VOLTAS 3107000 4.54 1000.40 -2.92
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BHEL 102102000 -6.46 50.10 -6.96
BATAINDIA 1336500 -6.43 1480.30 -0.88
SBILIFE 7865250 -6.42 888.95 -2.50
AARTIIND 342125 -6.18 1288.90 -0.33
PVR 1541309 -6.12 1418.05 -0.20
CONCOR 7216371 -5.95 539.10 -3.43
MOTHERSUMI 29547000 -5.53 220.55 -0.52
ASIANPAINT 5394600 -5.19 2422.95 -1.76
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.87 0.83
BANKNIFTY 0.52 0.95
RELIANCE 0.38 0.38
ICICIBANK 0.40 0.52
INFY 0.81 0.54
Historical Volatility
SCRIP HV
TATACHEM 47.26
RAMCOCEM 41.45
TATAPOWER 52.48
BHEL 67.68
NATIONALUM 53.51
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Technical & Derivatives Report
March 18, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot =
14721.30
FII Statistics for March 17, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4868.20 4874.26 (6.06) 131950 13825.88 2.77
INDEX
OPTIONS
547811.59 547159.34 652.25
1114122 114645.88 3.15
STOCK
FUTURES
11478.77 11532.11 (53.34) 1145306 97412.73 (0.61)
STOCK
OPTIONS
15453.94 15818.77 (364.83) 167239 14180.58 (1.75)
Total 579612.50
579384.48
228.02
2558617
240065.07
1.09
Turnover on March 17, 2021
Instrum
ent
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,96,212 38422.31 6.47
Index Options
4,11,82,493 39,85,937.43 23.86
Stock Futures
6,76,710 60497.48 7.16
Stock Options
17,61,592 1,60,239.23 10.25
Total 4,40,17,007 42,45,096.45 22.83
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14700 237.35
52.50 47.50 14752.50
Sell 14800 184.85
Buy 14700 237.35
100.95 99.05 14800.95
Sell 14900 136.40
Buy 14800 184.85
48.45 51.55 14848.45
Sell 14900 136.40
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14700 170.85
36.10 63.90 14663.90
Sell 14600 134.75
Buy 14700 170.85
66.45 133.55 14633.55
Sell 14500 104.40
Buy 14600 134.75
30.35 69.65 14569.65
Sell 14500 104.40
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500
Call Put
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Technical & Derivatives Report
March 18, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
663
676
696
709
729
ASIANPAINT 2,382 2,403
2,431
2,452
2,480
AXISBANK
714
721
732
738
749
BAJAJ-AUTO 3,479 3,524
3,601
3,646
3,723
BAJFINANCE 5,272 5,316
5,388
5,432
5,504
BAJAJFINSV 9,374 9,449
9,556
9,631
9,737
BPCL
420
426
436
442
453
BHARTIARTL
512
518
524
530
536
BRITANNIA 3,418 3,443
3,471
3,496
3,524
CIPLA
754
763
779
788
804
COALINDIA
136
138
142
144
148
DIVISLAB 3,325 3,351
3,372
3,399
3,419
DRREDDY 4,268 4,312
4,388
4,432
4,509
EICHERMOT 2,610 2,628
2,649
2,667
2,688
GAIL
132
135
140
144
149
GRASIM 1,341 1,354
1,374
1,388
1,408
HCLTECH
957
972
998
1,013
1,039
HDFCBANK 1,459 1,477
1,508
1,526
1,557
HDFCLIFE
675
683
695
702
714
HDFC 2,481 2,498
2,520
2,537
2,559
HEROMOTOCO 3,111 3,151
3,215
3,255
3,319
HINDALCO
320
323
328
332
337
HINDUNILVR 2,193 2,210
2,236
2,252
2,279
ICICIBANK
577
583
593
600
610
IOC
96
97
99
100
102
INDUSINDBK
980
995
1,017
1,031
1,053
INFY 1,372 1,379
1,390
1,397
1,408
ITC
206
208
211
213
216
JSW STEEL
414
418
422
426
430
KOTAKBANK 1,826 1,847
1,882
1,904
1,939
LT 1,393 1,415
1,454
1,476
1,515
M&M
823
830
841
848
858
MARUTI 6,966 7,015
7,093
7,142
7,219
NESTLEIND 16,079
16,267
16,529
16,717
16,979
NTPC
104
105
108
109
111
ONGC
105
107
111
113
117
POWERGRID
216
218
222
224
227
RELIANCE 1,997 2,026
2,064
2,094
2,132
SBILIFE
861
875
899
914
938
SHREECEM 26,195
26,519
27,034
27,358
27,873
SBIN
358
363
371
377
385
SUNPHARMA
568
577
590
599
612
TCS 3,048 3,081
3,118
3,150
3,187
TATAMOTORS
294
300
310
316
326
TATASTEEL
685
695
710
720
736
TECHM
999
1,009
1,026
1,037
1,054
TITAN 1,451 1,462
1,481
1,491
1,510
ULTRACEMCO 6,378 6,449
6,560
6,631
6,741
UPL
592
601
614
622
636
WIPRO
406
413
424
431
442
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Technical & Derivatives Report
March 18, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) 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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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]roking.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