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Technical & Derivatives Report
November 19, 2020
Nifty
Bank Out
look
-
(
29750
)
Market had a sluggish start yesterday but right from the word go,
banking index took the charge and immediately reclaimed its
positive territory. This was followed by a bout of consolidation
throughout the first half. However, post the mid-session, banking
stocks started soaring which led to yet another couple of percent
gains to the bulls’ kitty.
Last month was fabulous for the banking index but the current
month seems to be a dream patch for banking stocks. We have
just completed half month and BANKNIFTY has already clocked
whopping gains over twenty four percent. This is colossal and so
far one of the biggest intra month rally for it. Undoubtedly with a
slightly broader view, it is likely to move farther but we can see it
reaching some important levels now. Firstly, multi-year upward
sloping trend line is placed around 29800-30100 (weekly chart)
and also a swing low on weekly (February 02, 2020) closing basis
at 29753. Hence, we advise taking some money off the table and
avoid aggressive bets for a while for momentum traders because
prices have started moving far from short term averages.
Key Levels
Support 1 – 29200 Resistance 1 – 29900
Support 2 – 29000 Resistance 2 – 30100
Exhibit 1: Nifty Daily Chart
Sensex (44180) / Nifty (12938)
Nifty started the day on a flat note and witnessed a minor dip in the
first couple of hours. The index managed to find support tad above
the 12800 and then it witnessed upmove at the end to post gains
of half a percent at close.
The benchmark consolidated within a range for most part of the
session, but the broader markets kept the momentum going and
thus we saw a frenzy move in a bunch of high beta names. The
midcap index inched higher at its two years high and the Nifty is
just a kissing distance away from the record 13000 mark. Bank
Nifty continued with its rally and once again outperformed the
benchmark yesterday. As there are no signs of reversal, we continue
with our advice for traders to trade with a positive bias and look for
stock specific opportunities from a short term perspective. Once the
index surpass this psychological mark of 13000 which now just
seem to be a formality, 13100-13200 would be the zone to watch
for the index immediately. On the flipside, 12800-12770 is the
immediate support and until we see any violation of short term
supports, traders should avoid taking any contra trades.
.Key Levels
Support 1 – 12800 Resistance 1 – 13000
Support 2 – 12770 Resistance2 – 13100
Exhibit 2: Nifty Bank Weekly Chart
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Technical & Derivatives Report
November 19, 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
View
s
We had a falt opening and saw some profit
booking to drag index towards 11800 mark.
However, decent buying emeraged in the end to
clock fresh record highs. The benchmark index
concluded the day at the highest point ever.
FIIs were net buyers in the cash segment to the
tune of Rs. 3027 crores. In index future segment,
they bought worth Rs. 447 crores with some rise in
open interest, suggesting blend of long and short
covering.
The recent upmove we saw good amount of long
positions in Nifty and in case of banking index
short covering led the rally. Yesterday, we saw
addition of fresh long in BankNifty and mixed
activity was seen in Nifty. In options front, we saw
good amount of unwinding in 12800 and 13000
call options. On the flip side, meaningful writing
was seen 12800 and 12900 puts. Stronger hands
too continued their buying streak in equities and
index futures segment. The above data remains
optimistic and hence, traders are advised trading
with the positive bias.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 0.48%
Bank Nifty futures open interest has increased by 3.62%
as market closed at 12938.25 levels.
The Nifty November future closed with a premium of 19.
point against a premium of 7.65 point in last trading
session. The December series closed at a premium of
35.45 point.
The INDIA VIX has decreased from 19.80 to 19.12.
At the same time, the PCR-OI of Nifty increased from
1.59 to 1.67.
Few of the liquid counters where we have seen high cost
of carry are TATASTEEL, NATIONALUM, IDEA and
FEDERALBANK.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MFSL 4754100 61.96 619.30 1.11
BATAINDIA 1471250 23.67 1430.75 4.01
BANKBARODA 69651100 19.21 49.60 4.08
BOSCHLTD 238600 15.24 11501.90 -1.34
FEDERALBNK 129618500 14.26 61.90 6.69
L&TFH 41673100 13.07 74.15 5.23
TATAMOTORS 93172200 12.19 173.50 10.05
ASHOKLEY 35181000 11.85 95.15 3.75
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LICHSGFIN 11886000 -9.13 331.55 4.44
TATASTEEL 36706400 -7.47 517.20 -0.21
INFRATEL 13515600 -6.89 190.05 2.07
SAIL 53048000 -5.77 40.05 -0.87
HINDPETRO 26365500 -5.56 213.75 -1.74
SBIN 112791000 -5.33 252.00 4.95
AMBUJACEM 14355000 -5.32 262.00 -1.83
NMDC 28776500 -5.21 97.60 1.41
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.67 0.98
BANKNIFTY 1.42 0.98
RELIANCE 0.46 0.39
ICICIBANK 0.95 0.45
INFY 0.38 0.43
Historical Volatility
SCRIP HV
M&M 50.57
LT 43.91
TATAMOTORS 69.54
FEDERALBNK 64.14
TATAPOWER 51.62
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Technical & Derivatives Report
November 19, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot =
12938.25
FII Statistics for November 18, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3370.68 2923.74 446.94
159908 14858.27 0.81
INDEX
OPTIONS
297807.52 295672.46 2135.06
996036 91905.61 10.49
STOCK
FUTURES
12634.13 12929.37 (295.24) 1319557 97988.86 0.57
STOCK
OPTIONS
9708.30 9730.59 (22.29) 98784 7451.34 2.10
Total 323520.63
321256.16
2264.47
2574285
212204.08
4.27
Turnover on November 18, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,35,375 35073.01 3.23
Index Options
2,92,44,659
23,86,516.12
40.14
Stock Futures 8,69,887 65602.06 13.34
Stock Options
18,53,250
1,47,958.25 19.26
Total 3,24,03,171
26,35,149.44
37.32
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 12900 151.10
53.15 46.85 12953.15
Sell 13000 97.95
Buy 12900 151.10
92.95 107.05 12992.95
Sell 13100 58.15
Buy 13000 97.95
39.80 60.20 13039.80
Sell 13100 58.15
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 12900 92.75
32.85 67.15 12867.15
Sell 12800 59.90
Buy 12900 92.75
54.95 145.05 12845.05
Sell 12700 37.80
Buy 12800 59.90
22.10 77.90 12777.90
Sell 12700 37.80
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
12400 12500 12600 12700 12800 12900 13000 13100 13200 13300 13400 13500 13600 13700
Call Put
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Technical & Derivatives Report
November 19, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
376
384
389
397
403
ASIANPAINT 2,147 2,171
2,191
2,215
2,235
AXISBANK
615
626
633
644
651
BAJAJ-AUTO 2,981 3,009
3,033
3,061
3,084
BAJFINANCE 4,385 4,519
4,599
4,733
4,813
BAJAJFINSV 7,127 7,459
7,652
7,983
8,176
BPCL
368
375
385
393
402
BHARTIARTL
464
471
478
485
492
BRITANNIA 3,412 3,456
3,489
3,533
3,566
CIPLA
724
734
743
752
761
COALINDIA
125
126
128
129
131
DIVISLAB 3,390 3,421
3,441
3,472
3,493
DRREDDY 4,605 4,654
4,725
4,774
4,845
EICHERMOT 2,470 2,542
2,586
2,658
2,702
GAIL
92
93
94
95
96
GRASIM
833
841
846
854
860
HCLTECH
792
803
811
823
831
HDFCBANK 1,389 1,399
1,409
1,419
1,429
HDFCLIFE
652
659
667
674
682
HDFC 2,302 2,334
2,352
2,383
2,401
HEROMOTOCO 2,887 2,935
2,992
3,040
3,097
HINDALCO
207
213
217
223
226
HINDUNILVR 2,099 2,115
2,143
2,159
2,187
ICICIBANK
482
490
494
502
507
IOC
84
84
85
86
86
INDUSINDBK
753
791
812
850
871
INFY 1,084 1,097
1,115
1,128
1,146
ITC
179
182
185
187
191
JSW STEEL
335
339
342
346
350
KOTAKBANK 1,756 1,793
1,822
1,859
1,887
LT 1,052 1,100
1,127
1,175
1,202
M&M
611
659
684
731
757
MARUTI 6,902 6,978
7,024
7,100
7,146
NESTLEIND 16,540
16,707
16,838
17,004
17,136
NTPC
87
88
89
89
90
ONGC
70
71
72
72
73
POWERGRID
182
184
187
188
192
RELIANCE 1,938 1,963
1,985
2,009
2,031
SBILIFE
836
847
858
869
880
SHREECEM 23,608
23,839
23,987
24,217
24,365
SBIN
233
242
248
257
263
SUNPHARMA
504
509
513
518
523
TCS 2,575 2,601
2,633
2,658
2,690
TATAMOTORS
150
162
170
182
191
TATASTEEL
504
511
517
524
530
TECHM
822
829
837
844
852
TITAN 1,247 1,264
1,283
1,300
1,319
ULTRACEMCO 4,829 4,878
4,909
4,958
4,989
UPL
421
424
427
430
433
WIPRO
336
341
346
351
357
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Technical & Derivatives Report
November 19, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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For Derivatives Queries E-mail: deri[email protected]
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]g.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]g.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com