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Technical & Derivatives Report
October 21, 2020
O
Nifty
Bank Out
-
(
24312
)
Due to the overnight sell off in US bourses, we had a gap
down opening in our markets too. Banking was a notch
weaker than the benchmark at the start; but managed to
catch up well as the day progressed. As far as price activity is
concerned, the second half was extremely lethargic and the
markets remained within a slender range to conclude on a flat
note.
The way BANKNIFTY had a stellar move on Monday,
yesterday’s dull session was slightly surprising to us. But
having said that the positive posture still remains intact as
long as the index manages to defend 24150-24000 on a
closing basis. On thé higher side, the immediate barrier is at
24500 and a strong move is possible only after surpassing it
convincingly. So, do watch out for all these key levels in the
forthcoming session.
Key Levels
Support 1 – 24150 Resistance 1 – 24500
Support 2 – 24000 Resistance 2 – 24700
Exhibit 1: Nifty Daily Chart
Se
nsex
(
40544)
/ Nifty
(
11897
)
The Nifty index opened on a flat note and moved higher till
noon upto 11950. However, the index then gave up the intraday
gains and consolidated within a range to end the day tad below
11900.
It was a day of consolidation for the index as no major
movement was seen on either side. The stock specific action
continued within the range and on the short term charts, it is
observed that the trading range for index has shrinked to
11800-12000. Markets seem to be waiting for some trigger to
come of this range and a directional move is expected only post
a breakout. A move beyond 12000 would bring back the
optimism to lead the indices higher. Till then, traders are
advised to continue to trade with a stock specific approach.
.Key Levels
Support 1 – 11820 Resistance 1 – 11950
Support 2 – 11780 Resistance2 – 12000
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
October 21, 2020
Nifty Vs OI
10800
11000
11200
11400
11600
11800
12000
12200
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
9/30 10/5 10/7 10/9 10/13 10/15
(`000)
Openinterest Nifty
Vi
ew
s
It was yet another day of consolidation for the equity
market. We began yesterday’s session almost flat and
then index rallied towards 11950 mark. However, Nifty
than traded in the range to conclude the session
slightly below 11900.
FIIs were net buyers in the cash segment to the tune of
Rs. 1585 crores. In index future segment, they sold
worth Rs. 285 crores with rise in open interest,
suggesting addition of some short in yesterday’s
session.
On Tuesday, we saw blend of long and short positions
in Nifty futures. Whereas, open interest activity
remained muted for banking index. In options front,
fresh build-up was seen in 11900-12100 followed by
unwinding in 11800 call options. On the other side, we
saw build-up scattered between 11300-11900 put
options. Considering the above data point, we believe
Nifty may continue grinding in the range of
11800-12000. Hence, traders are advised to trade in
individual counters until index trades in the above
mentioned range.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 4.06%
Bank Nifty futures open interest has decreased by 0.86%
as market closed at 11896.80 levels.
The Nifty October future closed with a discount of 0.90
point against a premium of 16.35 point in last trading
session. The November series closed at a premium of
23.80 point.
The INDIA VIX has increased from 21.82 to 22.69.
At the same time, the PCR-OI of Nifty increased from
1.35 to 1.46.
Few of the liquid counters where we have seen high
cost of carry are PNB, GMRINFRA, NATIONALUM,
BANKBARODA, IDFCFIRSTB and NMDC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BRITANNIA 1601400 53.54 3553.05 -5.68
ASIANPAINT 2995800 17.83 2118.55 2.38
BATAINDIA 1712150 12.38 1368.90 -1.60
COLPAL 3044300 11.46 1461.10 -1.14
IOC 60300300 9.70 75.05 -2.46
DABUR 11298750 8.84 528.05 1.69
UPL 16686800 8.07 455.95 -1.70
PIDILITIND 3829000 6.66 1524.70 -0.63
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MINDTREE 1582400 -12.59 1426.40 6.16
MGL 1632000 -7.95 829.45 0.07
ZEEL 34095000 -5.78 183.00 4.83
VOLTAS 2395000 -5.49 698.25 1.51
TORNTPHARM 977500 -5.33 2711.60 1.19
MUTHOOTFIN 3535500 -4.84 1229.35 0.54
TATAMOTORS 72105000 -4.69 129.65 0.66
HINDUNILVR 5596800 -4.58 2173.10 -0.54
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.46 0.88
BANKNIFTY 1.19 0.83
RELIANCE 0.45 0.49
ICICIBANK 0.79 0.65
INFY 0.39 0.46
Historical Volatility
SCRIP HV
BRITANNIA 45.71
MINDTREE 61.00
HCLTECH 46.41
BANKBARODA 59.63
TECHM 46.48
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Technical & Derivatives Report
October 21, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (October Series) are given as an information and not as a recommendation.
Nifty Spot =
11896.80
FII Statistics for October 20, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3142.03 3426.59 (284.56) 148439 12085.63 4.19
INDEX
OPTIONS
200384.31 201451.07 (1066.76) 964732 79264.70 1.50
STOCK
FUTURES
12580.46 12980.97 (400.51) 1122695 80571.34 (0.26)
STOCK
OPTIONS
5588.89 5546.73 42.16
108308 8499.95 1.92
Total 221695.69
223405.36
(1709.67) 2344174
180421.62
0.83
Turnover on October 20, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,90,617 27508.34 -15.95
Index Options
2,07,38,681 15,04,387.47 19.90
Stock Futures
6,94,985 51959.87 -7.08
Stock Options
12,83,867 1,01,911.02 -3.12
Total 2,31,08,150 16,85,766.70 16.38
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11900 139.75
48.35 51.65 11948.35
Sell 12000 91.40
Buy 11900 139.75
83.40 116.60 11983.40
Sell 12100 56.35
Buy 12000 91.40
35.05 64.95 12035.05
Sell 12100 56.35
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11900 142.25
40.00 60.00 11860.00
Sell 11800 102.25
Buy 11900 142.25
68.90 131.10 11831.10
Sell 11700 73.35
Buy 11800 102.25
28.90 71.10 11771.10
Sell 11700 73.35
Nifty Put-Call Analysis
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October 21, 2020
Da
ily
Pivot
Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
342
346
349
352
356
ASIANPAINT 2,041 2,080
2,106
2,144
2,170
AXISBANK
479
486
493
500
506
BAJAJ-AUTO 2,932 2,968
2,993
3,030
3,055
BAJFINANCE 3,197 3,229
3,259
3,292
3,322
BAJAJFINSV 5,849 5,900
5,963
6,014
6,076
BPCL
337
340
345
348
353
BHARTIARTL
389
397
405
413
421
BRITANNIA 3,446 3,500
3,597
3,650
3,748
CIPLA
747
756
765
774
784
COALINDIA
111
112
114
116
117
DIVISLAB 3,037 3,062
3,095
3,119
3,153
DRREDDY 4,992 5,031
5,071
5,110
5,150
EICHERMOT 2,161 2,178
2,206
2,223
2,251
GAIL
84
85
86
87
88
GRASIM
758
768
774
783
789
HCLTECH
827
854
870
896
912
HDFCBANK 1,198 1,211
1,219
1,232
1,241
HDFCLIFE
559
565
573
579
587
HDFC 1,983 1,999
2,020
2,037
2,058
HEROMOTOCO 3,191 3,215
3,254
3,277
3,316
HINDALCO
177
179
181
183
185
HINDUNILVR 2,095 2,134
2,171
2,210
2,247
ICICIBANK
408
411
414
417
420
IOC
74
74
76
76
77
INDUSINDBK
611
618
624
631
636
INFY 1,096 1,117
1,131
1,151
1,165
ITC
166
167
167
168
169
JSW STEEL
305
312
316
323
327
KOTAKBANK 1,340 1,354
1,370
1,385
1,401
LT
899
908
922
931
944
M&M
582
592
601
611
619
MARUTI 6,729 6,787
6,868
6,926
7,007
NESTLEIND 15,611
15,932
16,171
16,492
16,731
NTPC
79
80
81
82
83
ONGC
66
67
68
69
71
POWERGRID
155
156
158
159
162
RELIANCE 2,126 2,141
2,167
2,182
2,208
SBILIFE
781
791
800
810
819
SHREECEM 20,828
21,007
21,278
21,457
21,728
SBIN
199
201
203
205
206
SUNPHARMA
477
482
485
490
493
TCS 2,697 2,718
2,739
2,760
2,781
TATAMOTORS
125
127
129
131
133
TATASTEEL
385
389
393
397
401
TECHM
807
829
841
862
874
TITAN 1,204 1,219
1,232
1,247
1,261
ULTRACEMCO 4,438 4,491
4,538
4,591
4,637
UPL
445
451
459
464
473
WIPRO
338
343
346
350
354
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Technical & Derivatives Report
October 21, 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 sameet.cha[email protected]g.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