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April 19, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
look
-
(
31977)
On Friday, Bank Nifty Index started on a flat note and remained in
a range throughout the session. During the last hour, it was
ticking days low to eventually end around the lowest point with a
loss of 0.42% at 31977.
During the last week, we witnessed a huge gap down opening on
Monday and further selloff on the same day to test the vicinity of
30500 however post that the bank nifty witnessed a gradual
bounce in the remaining part of the week to recover major lost
ground. The bank nifty is now retesting the breakdown levels that
were previously acting as strong support. The said breakdown
levels coincide with key moving averages like 20EMA and 89EMA
and hence as long we don't cross 32500 - 33000 we remain
cautious and advise to avoid undue risk. On the flip side, 31400 -
31000 is the immediate support zone.
Key Levels
Support 1 – 31400 Resistance 1 – 32500
Support 2 – 31000 Resistance 2 – 32800
Se
nsex
(
48832)
/ Nifty
(
14618
)
During the last week, we had a pathetic start on Monday as Nifty
surprisingly opened with a massive cut of more than 200 points as
indicated by the SGX Nifty. This was mainly on the back of
mounting concerns over the COVID-19 cases on the domestic
front. Since it weighed down heavily on the financial space, the
knock turned out to be a brutal one. In this process, the Nifty went
on to tumble over 500 points to test the sub-14300 territory.
Things looked extremely scary at the close on the opening day; but
fortunately there was no follow through seen to it. In fact,
throughout the remaining part of the week, we managed to
recover fair bit of ground to trim major portion of losses.
Since last couple of weeks, market was trapped in a small range
where it neither had strength to stay beyond 14900 nor it was
letting it slide below 14500. Due to Monday’s sharp selloff, Nifty
breached this range in the downward direction and the major
culprit of this was clearly the entire financial basket. Although, Nifty
didn’t violate major support of 14200, the BANKNIFTY finally
slipped below its cluster of support placed at 32400 – 32200.
Hence, till the time we do not see banking index crossing 32500
33000 levels, we are certainly not out of the woods yet. As far as
Nifty is concerned, 14700 14850 remains to be a sturdy wall and
surpassing it would really be a daunting task for the bulls. On the
downside, 14500 – 14350 – 14250 are the levels to watch out for.
Exhibit 2: Nifty Bank Daily Chart
If we have to take out any positives from the week gone by, then it
would certainly be an overall improvement in the market breadth
which remained strongly in favour of advances. Also there were few
pockets like IT and Pharma did exceedingly well towards the latter
half. But we would like to highlight one point that the NIFTY
MIDCAP50 index has confirmed a ‘Lower Top Lower Bottom’
sequence on daily chart along with the breakdown from ‘Head and
Shoulder’ pattern. Hence, identifying the apt theme and the
potential movers within the same would prove out to be the key
aspect. In our sense, it’s better to stay light on positions and avoid
aggressive longs till the time few key levels are not reclaimed
convincingly.
Key Levels
Support 1 – 14500
Resistance 1 – 14700
Support 2 – 14350 Resistance2 – 14785
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Technical & Derivatives Report
April 19, 2021
Nifty Vs OI
13800
14000
14200
14400
14600
14800
15000
15200
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
3/19 3/23 3/25 3/30 4/1 4/6 4/8 4/13 4/16
(`000)
Openinterest Nifty
View
We started-off the week with the downside gap
amidst partial lockdown due to the rising COVID
cases in India. Post opening, we witnessed a follow-
up sell-off to drag index below 14250 mark. In the
next three trading sessions, the benchmark index
recovered to almost reclaim 14700. Eventually, due to
some profit booking in last half an hour of trade on
Friday, we concluded the week one and a half
percent lower and slightly above 14600 mark.
FIIs were net buyers in the cash segment to the tune
of Rs. 437 crores. In index futures front, they bought
marginally with good amount of rise in open interest
indicating addition of mixed position on Friday’s
session.
Throughout the week, except for some build-up on
Friday; the overall open interest activity in Nifty
remained muted. In case of BankNifty, we saw some
long unwinding on WOW basis. Stronger hand added
mixed positions; but, majority of them were on long
side. Hence, the ‘Long Short Ratio’ has jumped up
from 58% to 61%. Despite decent price action during
the week, we haven’t see any meaningful,change in
F&o data. At current juncture, 14600-14700 levels
remains the study hurdle and until we sustain below
same one should avoid any bullish bets. On the
downside, the support is placed around 14400-
14500.
C
o
m
me
n
t
s
The Nifty futures open interest has increased by 6.72%.
Bank Nifty futures open interest has decreased by 2.54%
as market closed at 14617.85 levels.
The Nifty April future closed with a premium of 27.85
point against a premium of 10.55 point in last trading
session. The May series closed at a premium of 62.05
point.
The INDIA VIX decreased from 20.89 to 20.40.
At the same time, the PCR-OI of Nifty increased from
1.14 to 1.38.
Few of the liquid counters where we have seen high cost
of carry are ZEEL, CIPLA, ICICIPRULI, GAIL and EXIDEIND.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
AARTIIND 498525 20.31 1425.20 3.85
SIEMENS 958650 15.35 1847.65 1.71
CADILAHC 14577200 14.03 527.10 4.47
HINDALCO 33316400 12.27 370.00 4.55
CIPLA 14110200 11.43 938.05 3.08
BIOCON 16974000 9.37 412.85 2.03
WIPRO 45638400 9.34 469.20 8.45
PVR 2215708 8.75 1051.65 -1.36
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
JSWSTEEL 35340300 -6.96 619.40 -1.53
TORNTPOWER 2124000 -6.60 408.70 2.91
ESCORTS 1889800 -5.71 1246.90 2.15
SBILIFE 4697250 -3.97 914.20 0.55
UBL 1330700 -3.94 1100.00 -0.18
HDFCBANK 32192050 -3.84 1428.65 -0.12
TATAPOWER 133231500 -3.61 97.15 2.91
MGL 1678200 -3.45 1103.70 1.61
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.38 0.90
BANKNIFTY 0.90 0.87
RELIANCE 0.50 0.51
ICICIBANK 0.55 0.67
INFY 0.36 0.25
Historical Volatility
SCRIP HV
WIPRO 42.76
GLENMARK 54.62
CADILAHC 42.30
TORNTPOWER 40.02
AARTIIND 47.21
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Technical & Derivatives Report
April 19, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot =
14617.85
FII Statistics for April 16, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4857.22 4802.52 54.70
145103 14868.77 15.95
INDEX
OPTIONS
245564.54 242436.64 3127.90
919537 94618.81 19.36
STOCK
FUTURES
12341.74 11292.62 1049.12
1110258 95494.01 0.55
STOCK
OPTIONS
14475.95 14679.87 (203.92) 205956 18285.11 4.49
Total 277239.45
273211.65
4027.80
2380854
223266.70
8.38
Turnover on April 16, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,07,087 28815.88 -31.00
Index
Options
2,00,65,380 18,85,819.73 -79.00
Stock Futures
6,48,997 64089.80 -4.50
Stock
Options
18,45,114 1,91,783.45 16.31
Total 2,28,66,578 21,70,508.86 -76.54
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14600 238.75
50.85 49.15 14650.85
Sell 14700 187.90
Buy 14600 238.75
98.45 101.55 14698.45
Sell 14800 140.30
Buy 14700 187.90
47.60 52.40 14747.60
Sell 14800 140.30
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14600 199.80
38.75 61.25 14561.25
Sell 14500 161.05
Buy 14600 199.80
68.30 131.70 14531.70
Sell 14400 131.50
Buy 14500 161.05
29.55 70.45 14470.45
Sell 14400 131.50
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
13700 13800 13900 14000 14100 14200 14300 14400 14500 14600 14700 14800 14900 15000
Call Put
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Technical & Derivatives Report
April 19, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
713
734
764
786
816
ASIANPAINT 2,535 2,599
2,646
2,711
2,758
AXISBANK
656
663
669
676
682
BAJAJ-AUTO 3,533 3,584
3,621
3,671
3,708
BAJFINANCE 4,532 4,574
4,632
4,674
4,732
BAJAJFINSV 9,708 9,767
9,823
9,882
9,938
BPCL
395
404
414
423
432
BHARTIARTL
535
538
541
544
547
BRITANNIA 3,645 3,671
3,702
3,728
3,760
CIPLA
898
918
931
951
964
COALINDIA
125
127
128
130
131
DIVISLAB 3,688 3,755
3,800
3,867
3,912
DRREDDY 4,758 4,826
4,883
4,950
5,008
EICHERMOT 2,385 2,410
2,440
2,465
2,495
GRASIM 1,319 1,336
1,358
1,375
1,397
HCLTECH
986
999
1,008
1,022
1,030
HDFCBANK 1,411 1,420
1,432
1,441
1,454
HDFCLIFE
681
686
694
698
706
HDFC 2,527 2,551
2,570
2,594
2,613
HEROMOTOCO 2,799 2,847
2,886
2,934
2,973
HINDALCO
343
356
366
380
390
HINDUNILVR 2,420 2,440
2,459
2,479
2,498
ICICIBANK
556
561
570
575
583
IOC
88
89
90
91
92
INDUSINDBK
845
854
862
871
879
INFY 1,333 1,343
1,357
1,368
1,381
ITC
205
207
208
209
211
JSW STEEL
605
612
624
631
643
KOTAKBANK 1,743 1,753
1,771
1,781
1,799
LT 1,331 1,345
1,369
1,383
1,407
M&M
786
804
821
839
856
MARUTI 6,501 6,574
6,680
6,753
6,858
NESTLEIND 16,678
16,965
17,150
17,437
17,622
NTPC
100
101
102
103
104
ONGC
103
105
106
109
110
POWERGRID
203
206
211
214
218
RELIANCE 1,913 1,922
1,936
1,946
1,960
SBILIFE
899
907
913
921
927
SHREECEM 29,689
30,255
30,622
31,188
31,555
SBIN
335
337
341
344
348
SUNPHARMA
617
632
641
655
664
TCS 3,144 3,170
3,208
3,234
3,273
TATACONSUM
653
662
669
678
686
TATAMOTORS
294
302
308
317
323
TATASTEEL
869
880
897
908
925
TECHM
989
1,000
1,007
1,017
1,024
TITAN 1,516 1,533
1,546
1,563
1,576
ULTRACEMCO 6,394 6,555
6,671
6,831
6,947
UPL
594
603
611
620
628
WIPRO
422
446
460
483
497
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Technical & Derivatives Report
April 19, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: tec[email protected]lbroking.com
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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