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Technical & Derivatives Report
August 19, 2020
Nifty
Bank Out
-
(
22171
)
Bank Nifty stayed around its lower end of the range for couple of
days and yesterday, since morning, it remained under focus. We
had a positive start along with the benchmark, but later on
banking index accelerated it’s momentum to outperform Nifty by
a fair margin. In fact due to late surge, the Bank Nifty eventually
ended the session with more than a couple of percent gains.
The AGR verdict is expected any time and just ahead of it, the
banking space showed some action. But having said that, we still
do not want to get complacent and will keep a track of key levels
now. Going ahead, if Bank Nifty stays beyond 22500, we may see
banking stocks regaining strength and leading the move
thereafter. Till then, the range remains to be 22500-21400 and
the intermediate supports are placed at 22000-21800.
Key Levels
Support 1 – 22000 Resistance 1 – 22350
Support 2 – 21800 Resistance 2 – 22500
Exhibit 1: Nifty Daily Chart
Sensex (38528) / Nifty (11385)
The index started the session on a flat note yesterday, however it
rallied higher in the first hour of the day upto 11340. It then
consolidated below that level and resumed the positive
momentum at the end and tested the 11400 mark in last half an
hour.
Post testing the ‘20 DEMA’ and the Rising trendline support around
11100, Nifty showed a mild recovery on Monday and ended
around the mid-point of the recent trading range of 11100-11370.
However, yesterday it resumed the positive momentum and
surpassed its swing high of 11370. Such breakouts usually leads to
a continuation of the trend and the overall market breadth too is
in favor of the bulls. The follow up move in the coming session will
be important as if the momentum continues, then it will lead the
index towards 11465 followed by 11625. These are the projections
done by the reciprocal retracements of the recent corrective move.
On the flipside, 11250 will now be seen as an important support.
In last few sessions, inspite of the consolidation in the index, the
stock specific moves have provided good trading opportunities.
We continue with our advise for traders to look for such potentials
and trade with a positive bias.
Key Levels
Support 1 – 11300 Resistance 1 – 11465
Support 2 – 11250 Resistance 2 – 11500
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
August 19, 2020
Nifty Vs OI
10600
10700
10800
10900
11000
11100
11200
11300
11400
11500
10,200
10,400
10,600
10,800
11,000
11,200
11,400
11,600
11,800
12,000
12,200
8/3 8/4 8/5 8/6 8/7 8/10 8/11 8/12 8/13 8/14 8/17 8/18
(`000)
Openinterest Nifty
View
s
After a flat opening, Nifty rallied higher in yesterday's
session and surpassed recent swing high to close at
11385.35.
FIIs were net buyers in the cash market segment to the
tune of Rs. 1135 crores. In index futures, they sold worth
161 crores with increase in open interest indicating
short formations in yesterday’s session
.
FII's were net buyers in the cash segment to the tune of
more than 1100 crores. Although they added marginal
shorts in the index futures, their overall position remains
bullish as their 'Long Short Ratio' stands around 65
percent. In options segment, 11300 call options saw
unwinding of positions whereas 11300 put option
added decent amount of positions. The 11400 call has
highest amount open interest and if Nifty surpasses the
same, then traders should keep a tab on how the writers
act on their positions. If there's unwinding seen, then
the index could continue the momentum towards its
next hurdle of 11500. On the flipside, 11300 will now
be seen as immediate support as per the options data.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 4.82%
Bank Nifty futures open interest has decreased by 3.94%
as market closed at 11385.35 levels.
The Nifty August future closed with a premium of 13.2
point against a premium of 21 point in last trading
session. The September series closed at a premium of
24.65 point.
The INDIA VIX has decreased from 21.31 to 20.43
At the same time, the PCR-OI of Nifty increased from 1.50
to 1.65.
Few of the liquid counters where we have seen high cost
of carry are MANAPPURAM, PNB, IDEA, FEDERALBNK,
AND MFSL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GODREJPROP 751400 74.62 891.85 2.24
ADANIENT 23360000 24.23 213.70 7.79
IBULHSGFIN 17735100 21.05 207.75 2.30
PAGEIND 123570 15.73 19101.10 -1.20
BPCL 21052800 11.18 402.30 -1.54
ZEEL 51630000 11.00 173.95 2.37
SRF 775250 10.16 4282.50 3.37
GAIL 29353200 9.02 96.95 -0.87
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
SUNTV 6687000 -9.96 434.30 1.52
CONCOR 6275445 -9.20 392.60 1.70
ASHOKLEY 46719000 -8.37 68.50 8.62
JINDALSTEL 19785000 -8.02 224.90 0.60
EXIDEIND 11145600 -7.55 168.95 2.64
BATAINDIA 2094950 -6.76 1256.50 1.00
UJJIVAN 2721400 -6.07 242.70 2.64
SHREECEM 127650 -5.83 21914.05 1.95
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.65 0.95
BANKNIFTY 1.07 0.82
RELIANCE 0.62 0.43
ICICIBANK 0.52 0.49
INFY 0.63 0.54
Historical Volatility
SCRIP HV
ADANIENT 61.26
GRASIM 53.70
ASHOKLEY 74.98
CHOLAFIN 84.89
DLF 66.42
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Technical & Derivatives Report
August 19, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (August Series) are given as an information and not as a recommendation.
Nifty Spot =
11385.35
FII Statistics for August 18, 2020
Detail Buy
Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
3226.63
3387.82
(161.19) 123503
9571.40
0.93
INDEX
OPTIONS
172951.55
171909.02
1042.53
663547
53329.01
(0.63)
STOCK
FUTURES
13903.31
13864.50
38.81
1284000
90684.15
(0.19)
STOCK
OPTIONS
6233.56
6220.46
13.10
97870
6952.08
1.33
Total 196315.05
195381.80
933.25
2168920
160536.64
(0.19)
Turnover on August 18, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,13,298 27360.10 5.49
Index Options 1,93,08,934
13,13,425.24
22.13
Stock Futures 8,01,600 55853.52 1.41
Stock Options 12,79,595 94128.05 4.86
Total 2,18,03,427
14,90,766.91
19.62
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11400 126.15
49.95 50.05 11449.95
Sell 11500 76.20
Buy 11400 126.15
84.50 115.50 11484.50
Sell 11600 41.65
Buy 11500 76.20
34.55 65.45 11534.55
Sell 11600 41.65
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11400 127.80
37.15 62.85 11362.85
Sell 11300 90.65
Buy 11400 127.80
64.75 135.25 11335.25
Sell 11200 63.05
Buy 11300 90.65
27.60 72.40 11272.40
Sell 11200 63.05
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000
Call Put
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Technical & Derivatives Report
August 19, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
352
355
357
360
362
ASIANPAINT 1,810 1,842
1,863
1,895
1,916
AXISBANK
431
438
443
450
455
BAJAJ-AUTO 3,061 3,083
3,115
3,137
3,169
BAJFINANCE 3,337 3,378
3,408
3,450
3,480
BAJAJFINSV 6,187 6,265
6,320
6,398
6,453
BPCL
395
398
405
409
415
BHARTIARTL
516
521
525
530
534
INFRATEL
195
198
201
204
207
BRITANNIA 3,845 3,880
3,910
3,945
3,975
CIPLA
753
759
769
775
786
COALINDIA
134
135
137
138
140
DRREDDY 4,457 4,489
4,524
4,556
4,592
EICHERMOT 20,784
21,094
21,382
21,692
21,980
GAIL
96
96
97
98
99
GRASIM
598
633
656
690
713
HCLTECH
707
711
716
720
725
HDFCBANK 1,007 1,032
1,047
1,071
1,086
HDFC
584
591
596
603
607
HEROMOTOCO
1,785
1,803
1,814
1,832
1,843
HINDALCO 2,872 2,898
2,931
2,957
2,990
HINDUNILVR
190
193
195
198
200
ICICIBANK 2,179 2,197
2,207
2,224
2,235
IOC
359
364
367
373
375
INDUSINDBK
86
86
87
88
88
INFY
499
510
518
529
536
ITC
955
961
965
972
976
JSW STEEL
196
197
199
200
201
KOTAKBANK
263
270
275
282
286
LT 1,297 1,333
1,354
1,390
1,411
M&M
990
997
1,003
1,010
1,015
MARUTI
611
617
625
631
639
NESTLEIND 6,696 6,794
6,860
6,958
7,024
NTPC 16,183
16,369
16,497
16,682
16,810
ONGC
92
93
96
97
99
POWERGRID
78
79
81
82
83
RELIANCE
175
176
178
180
181
SHREECEM 2,060 2,089
2,112
2,141
2,164
SBIN 21,355
21,635
21,792
22,072
22,230
SUNPHARMA
190
193
194
197
198
TCS
518
522
528
532
538
TATAMOTORS 2,228 2,249
2,269
2,290
2,310
TATASTEEL
122
124
126
128
129
TECHM
413
424
430
441
447
TITAN
699
706
717
724
735
ULTRACEMCO 1,114 1,130
1,141
1,157
1,168
UPL 3,988 4,079
4,129
4,220
4,270
VEDANTA
483
492
500
509
517
WIPRO
278
280
284
286
290
ZEEL
159
166
173
180
187
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Technical & Derivatives Report
August 19, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives same[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