www.angelbroking.com
Technical & Derivatives Report
March 20, 2020
Nifty Bank Outlook
-
(
20083
)
BankNifty too witnessed a significant volatility in yesterday's
session as it oscillated in a broad range of over 2300
points.The index hit a low of 18675 post the gap down
opening and recovered during the day to surpass the 21000
mark. However, it again witnessed selling pressure in the last
half an hour to end the session tad above 20000 with a loss
of about 500 points. In last few sessions, the index
heavyweights from the banking space has witnessed a sharp
correction. We witnessed significant volatility in yesterday's
session which is expected to be high in the near term. Hence,
traders are advised to trade cautiously and with a proper risk
management.
Key Levels
Support 1 – 19730 Resistance 1 – 21950
Support 2 – 19125 Resistance 2 – 22450
Exhibit 1: Nifty Daily Chart
Sensex (28288) / Nifty (8263)
The indices again started trading for the day with a significant
gap down opening of about 500 points in yesterday's session to
breach the 8000 mark. The index remained under pressure till
noon but then a sudden bout of recovery in the later half led to
an up move and the index recovered all the losses to trade with
gains of about 100 points. However, we again saw some selling
pressure in the last half an hour to end this volatile day with a
loss of over 200 points at 8263.
We witnessed a roller coaster ride in yesterday's session post the
gap down opening and ended the day on a negative note. If we
look at some historical data, level around 7900 seem to be an
important support for the index as we had seen a rally from this
support from December 2016. Although, many of the important
supports have been breached in the ongoing correction and how
the index behaves around this support needs to be seen. One
factor that we have been mentioning about since last few days is
the India VIX which rallied further to surpass the 72 mark. In
yesterday's session, inspite of the intraday pullback move, we did
not see any reversal on the volatility index and hence, the
pullback rally was sold into. Hence, it is crucial to keep a tab on
the same as a reversal in the VIX would only then lead to a
sustained upmove. Considering the higher volatility, we advice
traders to avoid taking leverage trade and trade with a proper
risk management strategy.
Key Levels
Support 1 – 7900 Resistance 1 – 8575
Support 2 – 7760 Resistance 2 – 8840
Exhibit 2: Nifty Bank Daily Chart
www.angelbroking.com
Technical & Derivatives Report
March 20, 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 3/19
(`000)
Openinterest Nifty
V
iew
s
The indices opened with a gap down opening in
yesterday's session and witnessed significantly
volatility in to end with a loss of about two and a
half percent.
FIIs were net sellers in the cash market segment to the
tune of Rs. 4623 crores. In index futures, the activities
were muted as they bought worth Rs. 45 crores with
decrease in open interest.
FII's selling figure in the cash segment continues to be
high even at current market levels. The INDIA VIX rose
further yesterday to surpass the 72 mark. Since last few
days, we have not seen any fresh shorting by the
stronger hands in the index futures segment, but their
selling in the cash segment and the rising India VIX
continues to be the concern. Hence, we continue with
our advise for traders to wait for reversal on the
volatility index and till then stay light on positions.
Co
m
ment
s
The Nifty futures open interest has decreased by 2.49%
Bank Nifty futures open interest has decreased by
10.71% as market closed at 8263.45 levels.
The Nifty March future closed with a discount of 57.55
points against a discount of 35.10 points in last trading
session. The April series closed at a discount of 55.85
points.
The INDIA VIX has increased from 63.96 to 72.20.
At the same time, the PCR-OI of Nifty has increased
from 0.96 to 0.98.
Few of the liquid counters where we have seen high cost
of carry are IDEA, PAGEIND, HDFCLIFE, ADANIPOWER
and BANKBARODA.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CENTURYTEX 2682000 36.57 276.60 -3.16
FEDERALBNK 45955000 17.13 52.40 -2.97
INFRATEL 8804000 9.89 124.05 -17.32
BHARATFORG 6730100 9.59 305.10 -12.30
M&M 12675000 9.41 314.20 -9.39
HINDPETRO 10319400 7.98 190.10 -7.03
ASHOKLEY 56376000 7.62 48.05 -22.74
HDFCLIFE 6310800 6.39 416.90 -0.07
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IGL 5467000 -33.89 322.95 -4.94
APOLLOHOSP 891000 -22.62 1180.00 -7.79
NIITTECH 486000 -20.49 1035.85 -10.49
EXIDEIND 4848800 -20.38 139.75 5.04
VOLTAS 1707000 -16.69 548.20 -4.13
BALKRISIND 1174400 -14.80 760.80 -8.26
BATAINDIA 1865600 -13.45 1100.50 -7.87
TATACHEM 1336500 -12.85 223.10 -0.25
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.98 0.74
BANKNIFTY 0.60 0.60
RELIANCE 0.34 0.53
ICICIBANK 0.36 0.53
INFY 0.52 0.70
Historical Volatility
SCRIP HV
ASHOKLEY 147.68
IBULHSGFIN 256.52
BHARATFORG 87.49
BEL 99.23
MARUTI 76.50
www.angelbroking.com
Technical & Derivatives Report
March 20, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot
=
8263.45
FII Statistics for March 19, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
11856.12
11811.27
44.85
273643
15731.96
(0.92)
INDEX
OPTIONS
232650.92
233213.16
(562.24) 873181
52202.99
(12.51)
STOCK
FUTURES
20497.63
19401.67
1095.96
1487043
66629.34
(0.55)
STOCK
OPTIONS
2079.93
2061.56
18.37
76775
3454.74
4.92
Total 267084.60
266487.66
596.94
2710642
138019.03
(4.64)
Turnover on March 19, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 10,80,860 56846.81 30.19
Index Options 3,23,37,369
16,57,342.01 91.13
Stock Futures 13,79,003 60507.04 0.28
Stock Options 6,51,781 32926.80 -17.29
Total 3,54,49,013
18,07,622.66 78.81
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 8300 402.45
53.60 46.40 8353.60
Sell 8400 348.85
Buy 8300 402.45
101.90 98.10 8401.90
Sell 8500 300.55
Buy 8400 348.85
48.30 51.70 8448.30
Sell 8500 300.55
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 8200 452.40
47.75 52.25 8152.25
Sell 8100 404.65
Buy 8200 452.40
84.10 115.90 8115.90
Sell 8000 368.30
Buy 8100 404.65
36.35 63.65 8063.65
Sell 8000 368.30
Nifty Put-Call Analysis
,0
200,000
400,000
600,000
800,000
1000,000
1200,000
1400,000
1600,000
1800,000
7500 7600 7700 7800 7900 8000 8100 8200 8300 8400 8500 8600 8700 8800
Call Put
www.angelbroking.com
Technical & Derivatives Report
March 20, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
231
245
255
268
278
ASIANPAINT 1,339 1,470
1,562
1,693
1,785
AXISBANK
398
413
439
454
480
BAJAJ-AUTO 1,847 2,007
2,192
2,352
2,537
BAJFINANCE 2,193 2,470
2,761
3,038
3,330
BAJAJFINSV 5,048 5,417
5,811
6,180
6,575
BPCL
267
284
302
318
336
BHARTIARTL
329
387
419
477
509
INFRATEL
101
113
131
143
161
BRITANNIA 2,183 2,251
2,327
2,395
2,471
CIPLA
348
361
376
389
404
COALINDIA
115
119
126
131
138
DRREDDY 2,415 2,519
2,600
2,704
2,784
EICHERMOT 14,106
14,576
15,323
15,793
16,540
GAIL
62
66
69
73
76
GRASIM
459
475
497
513
535
HCLTECH
348
381
408
440
467
HDFCBANK
745
820
870
945
995
HDFC 1,390 1
,504
1,604
1,718
1,818
HEROMOTOCO
1,461
1,587
1,688
1,814
1,915
HINDALCO
91
96
102
106
112
HINDUNILVR 1,690 1,764
1,832
1,906
1,973
ICICIBANK
297
318
344
364
390
IOC
79
83
87
92
95
INDUSINDBK
356
400
436
480
516
INFY
489
517
538
566
586
ITC
138
150
157
169
176
JSW STEEL
144
154
161
171
178
KOTAKBANK
903
1,057
1,155
1,309
1,408
LT
809
826
855
872
901
M&M
286
300
316
330
346
MARUTI 4,412 4,616
4,856
5,060
5,300
NESTLEIND 12,177
12,649
13,049
13,520
13,920
NTPC
70
74
79
84
89
ONGC
55
58
61
64
67
POWERGRID
135
141
146
153
158
RELIANCE
851
884
926
959
1,000
SBIN 14,805
16,268
17,863
19,326
20,921
SUNPHARMA
186
195
207
216
229
TCS
334
347
361
374
388
TATAMOTORS 1,484 1,560
1,623
1
,699
1,762
TATASTEEL
65
69
73
77
80
TECHM
248
260
272
284
296
TITAN
489
509
544
564
598
ULTRACEMCO
805
854
889
939
974
UPL 2,736 2,951
3,170
3,385
3,605
VEDANTA
281
289
301
309
321
WIPRO
64
67
70
73
76
YESBANK
152
157
164
169
176
ZEEL
127
134
146
153
166
www.angelbroking.com
Technical & Derivatives Report
March 20, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: techn[email protected]king.com
For Derivatives Queries E-mail: derivatives.d[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.
Neither Angel Broking Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or
in connection with the use of this information.