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May 20, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
look
-
(
33685)
The global bourses were hinting week start for the day, the banking
index too wasn’t pardon as it opened with a downside gap. The
index recouped all the early morning losses in the initial hour of
trade but the overall strength was lacking which resulted in some
selling to touch 33600 mark . Eventually, we concluded the dull
session with a cut of seventh tenth of percent.
Last two sessions strength boosted the overall sentiments in the
market but once again the nervousness in the global market
dented the optimism. However, the banking index still managed to
sustain above the gap area formed on Tuesday’s session which is
certainly a sigh of relief for Bulls. Thus, until BankNifty manages to
sustain above 33400-33500 we would maintain our positive stance
on this space. On the flip side, immediate resistance is at 34000 –
34300. Traders are advised strictly avoiding any bearish bets and
infact should use such declined to add fresh longs.
Key Levels
Support 1 – 33500 Resistance 1 – 34000
Support 2 – 33400 Resistance 2 – 34300
Exhibit 2: Nifty Bank Daily Chart
Similar to recent trend, the stock specific action continues in various
sectors but there were few pockets who witnessed some profit
booking yesterday. Traders are advised to stick to stock centric
approach but now needs to be a little fussy when it comes to the
stock selection.
Key Levels
Support 1 – 15000 Resistance 1 – 15100
Support 2 – 14960 Resistance 2 – 15150
Sensex (49903) / Nifty (15030)
The global uncertainty reappeared Tuesday night and the way other
global peers were trading yesterday morning, the gap down was
eminent in our market as well. Fortunately, we did not start as lower
as the SGX was indicating. In fact post the weak opening, our markets
recovered completely in the initial trades. However at higher levels,
there wasn’t enough strength to go beyond 15150 15200 levels.
Hence for the remaining part of the day, we remained in a negative
territory and kept flirting with the 15050 mark. Eventually, the dull
session ended below this point by shedding nearly half a percent to
the previous close.
In our previous commentary we had highlighted how the cooling off
in global bourses led to a strong rally beyond 15000 in Nifty. At the
close on Tuesday, the stage was all set for yet another similar kind of
trading session. But the tentativeness across the globe once again
restricted our markets at higher levels. Considering last two days’
price action, we did not see any major damage, rather it can be
construed as merely a breather till the time 15000 14960 remains
defended successfully. On the flipside. 15100 followed by 15150
would be seen as immediate hurdles.
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Technical & Derivatives Report
May 20, 2021
Nifty Vs OI
14100
14200
14300
14400
14500
14600
14700
14800
14900
15000
15100
15200
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
4/27 4/29 5/3 5/5 5/7 5/11 5/14 5/16
(`000)
Openinterest Nifty
View
Owing to soft global cues, Nifty started the session
marginally negative. The index recovered the losses
during the day but it consolidated in a range for most
part of the day and ended with a loss of half a percent.
FIIs were net sellers in the cash segment to the tune of
Rs. 698 crores. In index futures front, they sold worth Rs.
142 crores with decrease in open interest indicating short
covering in yesterday’s session.
The benchmark indices added decent amount of long
positions at the start of the week and most of those
positions are intact. FII's unwound some of the shorts
yesterday and their 'Long Short Ratio' is at 59 percent. In
options segment, puts of 15000 and below strikes have
decent open interest outstanding. We saw open interest
addition in 15100-15300 calls yesterday. Options data
indicate 15000-14950 as a support range for expiry day
and resistance around 15100. Traders should look to buy
at-the-money call on the expiry day if Nifty dips towards
the support of 15000-14950.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 1.66%.
Bank Nifty futures open interest has decreased by 2.74%
as market closed at 15030.15 levels.
The Nifty May future closed with a premium of 29.30
point against a premium of 36.75 point in last trading
session. The June series closed at a premium of 52.85
point.
The INDIA VIX decreased from 20.26 to 19.61.
At the same time, the PCR-OI of Nifty has decreased from
1.39 to 1.25.
Few of the liquid counters where we have seen high cost
of carry are COFORGE, BHEL, TORNTPHARM,GMRINFRA,
AND MINDTREE
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
COFORGE 2027300 120.92 3264.25 -4.06
AARTIIND 1233350 35.54 1665.80 -5.64
PIIND 557750 23.46 2571.25 -6.43
MINDTREE 2045200 10.62 2084.75 -0.24
CUMMINSIND 1617000 10.45 836.20 -0.13
VOLTAS 2864500 10.05 1020.00 1.03
ADANIENT 16392000 8.66 1294.70 -2.65
TORNTPHARM 976750 8.08 2754.35 1.33
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ASHOKLEY 34020000 -8.20 124.80 1.09
NAVINFLUOR 462150 -6.68 3190.15 -0.02
BAJAJ-AUTO 1884750 -6.50 4096.00 0.78
BOSCHLTD 113500 -6.35 14781.45 2.10
BATAINDIA 1090650 -5.97 1474.85 1.78
MPHASIS 336050 -5.83 1768.00 0.12
TATAMOTORS 107858250 -5.72 314.45 -5.68
RAMCOCEM 2227000 -5.55 977.95 1.10
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.25 0.96
BANKNIFTY 0.94 0.95
RELIANCE 0.40 0.38
ICICIBANK 0.72 0.73
INFY 0.49 0.31
Historical Volatility
SCRIP HV
PIIND 45.42
AARTIIND 48.04
TATAMOTORS 67.44
PAGEIND 45.20
COALINDIA 42.33
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Technical & Derivatives Report
May 20, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Spot =
15030.15
FII Statistics for May 19, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3301.70
3160.06
141.64
122111
12822.68
(4.93)
INDEX
OPTIONS
415168.22
415467.12
(298.90) 1338493
139271.87
2.64
STOCK
FUTURES
11715.79
13141.49
(1425.70) 1432462
108579.81
0.52
STOCK
OPTIONS
19566.29
19650.28
(83.99) 272546
20840.48
7.40
Total 449752.00
451418.95
(1666.95) 3165612
281514.84
1.75
Turnover on May 19, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 2,46,728 23608.00 -18.99
Index Options
4,18,20,074 39,85,732.99 20.43
Stock Futures 8,57,260 66830.88 -14.51
Stock Options
26,24,631 2,07,130.68 -10.84
Total 4,55,48,693 42,83,302.55 17.37
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15000 189.00
56.55 43.45 15056.55
Sell 15100 132.45
Buy 15000 189.00
102.40 97.60 15102.40
Sell 15200 86.60
Buy 15100 132.45
45.85 54.15 15145.85
Sell 15200 86.60
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15000 127.65
31.45 68.55 14968.55
Sell 14900 96.20
Buy 15000 127.65
58.40 141.60 14941.60
Sell 14800 69.25
Buy 14900 96.20
26.95 73.05 14873.05
Sell 14800 69.25
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700 15800
Call Put
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May 20, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
755
764
778
786
800
ASIANPAINT 2,771 2,793
2,821
2,844
2,872
AXISBANK
693
705
714
726
736
BAJAJ-AUTO 4,021 4,059
4,085
4,123
4,149
BAJFINANCE 5,522 5,577
5,650
5,704
5,778
BAJAJFINSV 11,009
11,112
11,273
11,376
11,537
BPCL
436
441
448
453
460
BHARTIARTL
517
523
532
537
546
BRITANNIA 3,496 3,515
3,535
3,554
3,574
CIPLA 872
888
897
913
922
COALINDIA
142
147
150
155
157
DIVISLAB 3,977 4,008
4,034
4,065
4,091
DRREDDY 5,178 5,208
5,236
5,266
5,294
EICHERMOT 2,499 2,532
2,573
2,606
2,648
GRASIM 1,356 1,373
1,397
1,414
1,439
HCLTECH
917
924
933
940
948
HDFCBANK 1,437 1,448
1,463
1,474
1,490
HDFCLIFE
661
664
668
670
674
HDFC 2,414 2,437
2,477
2,500
2,540
HEROMOTOCO 2,868 2,891
2,918
2,941
2,968
HINDALCO
389
396
401
408
414
HINDUNILVR 2,325 2,343
2,361
2,379
2,397
ICICIBANK
617
621
628
632
638
IOC
102
105
107
109
112
INDUSINDBK
952
959
969
977
986
INFY 1,318 1,328
1,343
1,352
1,367
ITC
205
206
209
210
213
JSW STEEL
694
700
710
716
726
KOTAKBANK 1,713 1,722
1,736
1,745
1,759
LT 1,378 1,391
1,413
1,426
1,448
M&M
770
777
786
793
802
MARUTI 6,702 6,739
6,797
6,834
6,892
NESTLEIND 17,089
17,269
17,367
17,547
17,645
NTPC
110
111
112
113
114
ONGC
112
114
115
116
117
POWERGRID
228
231
234
237
241
RELIANCE 1,951 1,974
1,995
2,018
2,040
SBILIFE
957
967
974
984
991
SHREECEM 26,776
27,154
27,699
28,078
28,623
SBIN
377
381
385
389
393
SUNPHARMA
684
694
700
710
716
TCS 3,038 3,060
3,089
3,111
3,140
TATACONSUM
645
649
655
659
665
TATAMOTORS
306
310
317
321
327
TATASTEEL 1,139 1,152
1,171
1,183
1,202
TECHM
952
965
976
988
999
TITAN 1,494 1,507
1,531
1,544
1,568
ULTRACEMCO 6,377 6,469
6,612
6,704
6,847
UPL
745
763
784
803
824
WIPRO
499
505
512
518
524
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Technical & Derivatives Report
May 20, 2021
*
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 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