www.angelbroking.com
Technical & Derivatives Report
November 18, 2020
Nifty
Bank Out
look
-
(
29181
)
After an extended weekend, the banking index too opened higher in
line with cheerful mood across the globe. In the initial hour, the lead
extended to go beyond the 29000 mark. However, traders chose to
take some money off the table in the subsequent hour to retest the
intraday support of 28700. But as we all know, the recent trend has
been strongly up and traders who are awaiting some declines just
keep pouncing on such opportunities. As a result, BANKNIFTY not
only managed to recover morning gains but also
comfortably crossed levels to register its highest close in the last
eight months above 29000. We can clearly see how intraday trading
has become a bit difficult in the last 2-3 sessions. Although we can
see strong gains at the end of each session, the intraday swings are
making it extremely difficult to time the trades. This is what we have
been mentioning since the last 3-4 days, if one wants to trade index,
avoid chasing prices, rather wait for the index to approach intraday
support to go long. This strategy is apt for unidirectional trend
following traders; but as an aggressive or professional trader, one
can rip the benefits of bigger swings on both sides. This strategy is
advisable only for flexible traders who trade with strict stop losses
and do not get emotional with their positions. As far as levels are
concerned, 29400 - 29600 are the levels to watch and on the
downside, 28900 - 28700 are seen as immediate supports.
Key Levels
Support 1 – 28900 Resistance 1 – 29400
Support 2 – 28700 Resistance 2 – 29600
Exhibit 1: Nifty Daily Chart
Sensex (43953) / Nifty (12874)
Nifty started the new Samvat with a gap up opening well above 12900
mark. It came off the opening high and then consolidated within a
range of about 80 points throughout the day to end with gains of
about three-fourth of a percent.
The market participants continued the cheerful mood post the festival
and thus the benchmark index continued to clock fresh record high.
The index was just shy away from the 13000 mark, but it consolidated
throughout the day post the gap up opening. The recent
outperforming banking index too continued its northward journey and
the broader markets kept buzzing as the Midcap index hit its 52-week
high. The broader market movement indicates no sign to worry as of
now and thus, traders should continue to ride the trend and trade with
a positive bias. The immediate support for Nifty is placed in the range
of 12800-12770 whereas the hurdle is around the 13000 mark.
However, we expect the index to surpass this soon and head higher to
make new records. From a trading perspective, thematic ideas remain
to be the flavour and hence, traders should identify such potential
ideas and capitalize on the same.
.Key Levels
Support 1 – 12800 Resistance 1 – 12950
Support 2 – 12770 Resistance2 – 13000
Exhibit 2: Nifty Bank Daily Chart
www.angelbroking.com
Technical & Derivatives Report
November 18, 2020
Nifty Vs OI
11000
11200
11400
11600
11800
12000
12200
12400
12600
12800
13000
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
10/30 11/3 11/5 11/9 11/11 11/13
(`000)
Openinterest Nifty
Vie
w
s
We began the day on a cheerful note tad above
12900 mark. As the day progressed, index
consolidated in the narrow range and eventually
concluded the session with the gains of 0.74%
FIIs were net buyers in the cash segment to the
tune of Rs. 4905 crores. In index future segment,
they bought worth Rs. 1014 crores with marginal
change in open interest, suggesting blend of long
and short covering.
In recent upmove, Nifty added long positions in
Nifty; while, short covering took place in banking
index. Yesterday, both Nifty and Banknifty added
some fresh longs. Stronger hands continued their
buying streak in equites. We are just in the mid of
the series and FIIs buying in cash has doubled to
that of last series. In options front, we saw
12850-13100 call options added good amount of
positions. On the flip side, writing was seen in
12800 and 12850 puts. Considering the above
data points, we remain upbeat on market and until
we don’t see any relevant unwinding in Nifty
futures traders should prefer trading with the
positive bias.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.56%
Bank Nifty futures open interest has increased by 0.81%
as market closed at 12874.20 levels.
The Nifty November future closed with a premium of
7.65 point against a premium of 33.45 point in last
trading session. The December series closed at a
premium of 21.95 point.
The INDIA VIX has increased from 19.70 to 19.80.
At the same time, the PCR-OI of Nifty increased from
1.53 to 1.59.
Few of the liquid counters where we have seen high cost
of carry are IDEA, HEROMOTOCO, TORNTPOWER and
CUMMINSIND.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IDEA 524510000 18.45 9.30 1.09
HEROMOTOCO 3456900 13.39 3031.30 -2.74
TORNTPOWER 2718000 12.27 307.00 1.03
CUMMINSIND 2068800 11.30 493.00 3.04
TATASTEEL 39671200 11.28 522.70 6.44
BPCL 21538800 11.00 394.65 -4.46
IOC 47685700 10.96 84.95 -2.18
MFSL 2935400 10.96 613.25 -0.16
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TATAMOTORS 83049000 -8.70 158.00 6.14
BALKRISIND 1778400 -8.29 1612.90 2.10
CADILAHC 6298600 -7.26 429.85 0.15
GODREJPROP 1734850 -7.07 1033.35 3.51
APOLLOHOSP 1878000 -6.87 2307.35 0.94
IBULHSGFIN 17781600 -6.26 180.55 -1.92
LICHSGFIN 13080000 -6.17 314.70 1.06
SAIL 56297000 -5.91 40.30 1.77
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.59 1.02
BANKNIFTY 1.34 0.88
RELIANCE 0.46 0.43
ICICIBANK 0.94 0.56
INFY 0.41 0.48
Historical Volatility
SCRIP HV
APOLLOHOSP 54.10
EICHERMOT 51.80
JUBLFOOD 50.62
PETRONET 43.89
MRF 37.74
www.angelbroking.com
Technical & Derivatives Report
November 18, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot =
12874.20
FII Statistics for November 17, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3848.18 2833.38 1014.80
158621 14636.43 (0.32)
INDEX
OPTIONS
202389.32 200353.96 2035.36
901495 81413.37 1.77
STOCK
FUTURES
10514.85 10311.06 203.79
1312081 96566.83 1.17
STOCK
OPTIONS
8224.81 8210.65 14.16
96749 7234.70 0.90
Total 224977.16
221709.05
3268.11
2468946
199851.33
1.28
Turnover on November 17, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,27,597 33974.05 -4.24
Index Options
2,10,56,256
17,02,998.02
35.76
Stock Futures 7,62,283 57883.30 1.01
Stock Options
15,53,904
1,24,064.27 12.71
Total 2,38,00,040
19,18,919.64
31.68
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12900 117.65
43.95 56.05 12943.95
Sell 13000 73.70
Buy 12900 117.65
74.95 125.05 12974.95
Sell 13100 42.70
Buy 13000 73.70
31.00 69.00 13031.00
Sell 13100 42.70
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12900 136.40
42.50 57.50 12857.50
Sell 12800 93.90
Buy 12900 136.40
73.50 126.50 12826.50
Sell 12700 62.90
Buy 12800 93.90
31.00 69.00 12769.00
Sell 12700 62.90
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
12000 12100 12200 12300 12400 12500 12600 12700 12800 12900 13000 13100 13200 13300
Call Put
www.angelbroking.com
Technical & Derivatives Report
November 18, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
357
368
378
389
398
ASIANPAINT 2,157 2,172
2,197
2,212
2,237
AXISBANK
601
615
623
637
645
BAJAJ-AUTO 2,978 3,011
3,030
3,064
3,083
BAJFINANCE 4,287 4,387
4,446
4,546
4,605
BAJAJFINSV 7,185 7,275
7,341
7,432
7,498
BPCL
378
386
401
409
423
BHARTIARTL
473
479
487
493
501
BRITANNIA 3,476 3,493
3,521
3,538
3,567
CIPLA
725
734
743
752
761
COALINDIA
126
128
128
130
131
DIVISLAB 3,342 3,385
3,437
3,480
3,532
DRREDDY 4,701 4,743
4,811
4,853
4,921
EICHERMOT 2,459 2,501
2,532
2,573
2,605
GAIL
92
93
94
95
96
GRASIM
826
834
844
852
862
HCLTECH
798
807
822
831
846
HDFCBANK 1,369 1,389
1,401
1,421
1,433
HDFCLIFE
621
645
660
684
699
HDFC 2,283 2,316
2,340
2,373
2,398
HEROMOTOCO 2,913 2,972
3,060
3,119
3,207
HINDALCO
207
210
213
216
219
HINDUNILVR 2,142 2,160
2,190
2,208
2,238
ICICIBANK
471
479
486
494
501
IOC
83
84
85
86
88
INDUSINDBK
762
773
783
795
805
INFY 1,095 1,109
1,127
1,142
1,159
ITC
185
186
188
189
191
JSW STEEL
333
337
344
348
355
KOTAKBANK 1,750 1,773
1,788
1,811
1,825
LT 1,044 1,062
1,080
1,098
1,115
M&M
627
632
639
644
651
MARUTI 6,813 6,897
6,947
7,031
7,081
NESTLEIND 16,754
16,869
16,967
17,081
17,180
NTPC
86
87
90
91
94
ONGC
70
70
72
73
74
POWERGRID
184
185
187
189
191
RELIANCE 1,921 1,957
2,021
2,057
2,121
SBILIFE
825
844
855
875
886
SHREECEM 23,133
23,562
23,828
24,257
24,523
SBIN
227
234
238
244
248
SUNPHARMA
509
514
519
523
528
TCS 2,625 2,646
2,670
2,691
2,715
TATAMOTORS
149
154
157
161
164
TATASTEEL
489
506
518
535
548
TECHM
819
832
844
858
870
TITAN 1,267 1,285
1,295
1,312
1,322
ULTRACEMCO 4,845 4,877
4,928
4,960
5,011
UPL
425
427
431
433
437
WIPRO
341
345
348
352
354
www.angelbroking.com
Technical & Derivatives Report
November 18, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]lbroking.com
For Derivatives Queries E-mail: deri[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.
Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]g.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruch[email protected]ing.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com