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Technical & Derivatives Report
March 19, 2020
Nifty Bank Outlook - (20580)
Bank Nifty started on a flat opening and then from the word
go witnessed one more bout of strong selling to end with deep
cuts of more than 7 percent ending at 20580.
The heavy weight counters from the basket remained under
pressure and yesterday free fall was seen in most of the private
bank stocks. In such sharp fall, we have been advising traders
to avoid catching the falling knife and we reiterate the view.
For the investors, one can look to accumulate quality stocks
from the basket in staggered manner and with proper risk
management.
Key Levels
Support 1 – 19730 Resistance 1 – 21950
Support 2 – 19125 Resistance 2 – 22450
Exhibit 1: Nifty Daily Chart
Sensex (
28870)
/ Nifty
(
8469
)
Whatever we have witnessed over the past few days, it’s clearly
once in a lifetime phenomenon. Market has taught everyone, we
should never underestimate the ‘Uncertainty’. Every day, market
is bleeding as if there is no tomorrow; because people are clue
less and don’t know how and when we are going to come out of
this. After Friday’s recovery, many must have thought the short
term bottom is made but this hope did not last too long. Within
three subsequent sessions, Friday’s low was not only tested but
also broken quite convincingly. Our markets kept sinking
throughout the day to conclude below 8500 with yet another
severe cut of over 5%.
Since last few days we have not been emphasizing too much on
the levels; because in such kind of situations, no levels are
respected. Rather, we have been focusing more on INDIA VIX
which is at elevated levels, at 12 years high. So rather than looking
at any level in indices, one should wait for the Fear indicator to
cool off. Till the time it doesn’t happen, the onslaught is likely to
continue. Also, one eye needs to be on the global peers as well.
At present, we continue to advice momentum traders to avoid
going against the direction and should strictly avoid leveraged
trades. However, for investors with a broader perspective, we still
believe that although it’s an unprecedented panic situation, one
should look to accumulate quality propositions in a staggered
manner.
Exhibit 2: Nifty Bank Daily Chart
Many would argue looking at the brutal fall in hindsight, going
short was extremely easy in such market. But the bitter truth is
it’s not the way it appears. One should avoid aggressive bets in
any directions and should follow strict stop losses when it comes
to trading.
Key Levels
Support 1 – 8133 Resistance 1 – 8800
Support 2 – 8000 Resistance 2 – 9000
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Technical & Derivatives Report
March 19, 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
ews
The indices witnessed another day of a brutal sell-off
and Nifty ended the session with a cut of over 5
percent.
FIIs were net sellers in the cash market segment to the
tune of Rs. 5085 crores. In index futures, they bought
worth Rs. 300 crores with increase in open interest,
indicating some long positions created in yesterday’s
session.
FII's continued to sell aggressively in the cash segment
and in this calendar month they have sold equities
worth more than 43000 crores so far. Althought in last
few sessions they have not been shorting index futures,
their selling in the cash segment along with the rising
INDIA VIX has led to such sharp correction. Owing to
this, we continue with our advice for traders to stay on
sidelines and avoid taking undue risks until we see any
reversal in the volatility index.
Co
m
ment
s
The Nifty futures open interest has increased by 2.62%
Bank Nifty futures open interest has increased by 9.93%
as market closed at 8468.80 levels.
The Nifty March future closed with a discount of 35.10
points against a discount of 51.45 points in last trading
session. The April series closed at a discount of 33.95
points.
The INDIA VIX has increased from 62.92 to 63.96.
At the same time, the PCR-OI of Nifty has decreased from
1.03 to 0.96.
Few of the liquid counters where we have seen high cost
of carry are IDEA, POWERGRID, BOSCHLTD, GLENMARK
and JUST DIAL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BANDHANBNK 9387600 38.19 224.40 -12.93
ONGC 82332100 22.11 68.10 1.00
JUSTDIAL 2669800 19.56 367.70 18.47
INDUSINDBK 17517200 18.19 460.75 -23.51
SHREECEM 205250 16.69 19293.20 -4.31
TITAN 7870500 13.77 930.70 -7.69
NTPC 67867200 13.11 80.55 -8.38
RBLBANK 18513000 8.75 166.95 1.79
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
YESBANK 129201600 -27.51 60.45 13.38
IDEA 541744000 -22.14 3.15 -34.69
SRTRANSFIN 2600400 -15.07 687.30 -10.76
CENTURYTEX 1963800 -12.67 286.75 -14.97
SAIL 57838800 -11.63 26.80 -1.83
FEDERALBNK 39235000 -11.27 54.25 -7.07
ESCORTS 3208700 -10.38 576.45 -11.16
APOLLOTYRE 8547000 -10.04 89.40 -3.94
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.96 0.60
BANKNIFTY 0.40 0.42
RELIANCE 0.34 0.64
ICICIBANK 0.38 0.55
INFY 0.46 0.77
Historical Volatility
SCRIP HV
INFRATEL 149.77
APOLLOHOSP 70.45
MGL 96.55
INDUSINDBK 174.92
KOTAKBANK 78.99
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Technical & Derivatives Report
March 19, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot
=
8468.80
FII Statistics for March 18, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
9108.99
8809.07
299.92
276184
16453.81
8.00
INDEX
OPTIONS
141241.44
141618.51
(377.07) 998000
60201.17
2.26
STOCK
FUTURES
21516.62
20269.26
1247.36
1495257
69390.54
1.03
STOCK
OPTIONS
2577.89
2564.26
13.63
73177
3456.20
3.73
Total 174444.94
173261.10
1183.84
2842618
149501.72
2.17
Turnover on March 18, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 8,02,587 43662.93 0.02
Index Options 1,53,29,594
867110.44 30.51
Stock Futures 13,54,431 60336.32 18.15
Stock Options 7,36,084 39811.77 8.62
Total 1,82,22,696
10,10,921.46 27.04
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 8500 387.15
52.05 47.95 8552.05
Sell 8600 335.10
Buy 8500 387.15
94.40 105.60 8594.40
Sell 8700 292.75
Buy 8600 335.10
42.35 57.65 8642.35
Sell 8700 292.75
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 8400 409.45
42.70 57.30 8357.30
Sell 8300 366.75
Buy 8400 409.45
84.55 115.45 8315.45
Sell 8200 324.90
Buy 8300 366.75
41.85 58.15 8258.15
Sell 8200 324.90
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
8200 8300 8400 8500 8600 8700 8800 8900 9000 9100 9200 9300 9400 9500
Call Put
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Technical & Derivatives Report
March 19, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
246
253
263
270
280
ASIANPAINT 1,511 1,565
1,662
1,715
1,812
AXISBANK
343
408
457
522
571
BAJAJ-AUTO 2,059 2,114
2,212
2,267
2,365
BAJFINANCE 2,692 2,877
3,203
3,388
3,715
BAJAJFINSV 5,647 5,978
6,589
6,921
7,532
BPCL
304
31
8
342
356
380
BHARTIARTL
366
396
437
467
509
INFRATEL
112
131
167
186
221
BRITANNIA 2,311 2,406
2,576
2,671
2,841
CIPLA
363
375
393
405
423
COALINDIA
138
141
147
150
155
DRREDDY 2,516 2,592
2,697
2,773
2,878
EICHERMOT 14,789 15,3
72
16,411
16,993
18,033
GAIL
65
68
72
75
79
GRASIM
454
490
529
566
605
HCLTECH
407
421
443
456
478
HDFCBANK
784
830
912
958
1,040
HDFC 1,488 1,555
1,670
1,737
1,852
HEROMOTOCO
1,542
1,611
1,736
1,805
1,930
HINDALCO
101
105
112
11
6
123
HINDUNILVR 1,811 1,868
1,966
2,022
2,120
ICICIBANK
324
340
358
373
391
IOC
84
86
88
90
93
INDUSINDBK
227
344
491
608
756
INFY
497
516
547
566
597
ITC
144
147
151
154
158
JSW STEEL
143
153
167
178
192
KOTAKBANK 1,054 1,1
13
1,221
1,280
1,388
LT
852
878
926
953
1,001
M&M
312
329
356
374
401
MARUTI 5,075 5,214
5,451
5,590
5,828
NESTLEIND 12,554
13,045
13,892
14,383
15,230
NTPC
66
74
82
89
97
ONGC
42
55
71
84
100
POWERGRID
101
123
144
165
186
RELIANCE
914
941
988
1,016
1,063
SBIN
190
202
213
226
236
SUNPHARMA
337
350
368
381
399
TCS 1,579 1,617
1,665
1,703
1,751
TATAMOTORS
72
74
77
79
82
TATASTEEL
266
273
283
291
301
TECHM
547
563
587
604
628
TITAN
853
892
960
999
1,067
ULTRACEMCO 3,103 3,203
3,371
3,471
3,638
UPL
284
303
333
352
383
VEDANTA
68
70
75
77
81
WIPRO
162
166
172
176
182
YESBANK
28
44
66
82
103
ZEEL
111
138
161
188
211
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Technical & Derivatives Report
March 19, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]lbroking.com
For Derivatives Queries E-mail: [email protected]king.com
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