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June 22, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
-
(
34871)
The massive correction in US markets on Friday was followed
by extremely negative cues early in the morning yesterday. As
a result, our markets opened with more than a percent cut and
banking was the weakest link as it slipped below the 34000
mark in the initial trades. However this was followed by a
remarkable recovery in the remaining part of the session. In
fact due to sharp surge in the latter half the banking index not
only recouped all losses but went on to close in the green by
gaining nearly a percent from the Friday’s level. The intimal
weakness was no surprise to us but what happened after that
was clearly unexpected. The market is clearly in no mood to
give up as they are showing tremendous resilience despite the
unfavourable global cues. Now for the coming session, 35000
followed by 35400 would be seen as immediate hurdles. The
recent cautious view may get negated once banking index
surpasses the higher range of 35400. Until then better not get
carried away by the momentum. As far as supports are
concerned, 34700 – 34500 are to be seen immediate levels.
Key Levels
Support 1 – 34700 Resistance 1 – 35000
Support 2 – 34500 Resistance 2 – 35400
Exhibit 2: Nifty Bank Daily Chart
Going ahead, it would be crucial to see the follow up moves in
both Nifty as well as Bank Nifty in the next couple of sessions
which could lead to the short term direction. Traders are
advised to focus on stock specific momentum and avoid
aggressive overnight positions.
Key Levels
Support 1 – 15700 Resistance 1 – 15800
Support 2 – 15600 Resistance 2 – 15880
Sensex (52574) / Nifty (15746)
The U.S. markets ended with deep cuts on Friday and the Asian
bourses too were trading in red ahead of our market opening. In
line with the global cues, the SGX Nifty hinted at a negative
opening and hence, Nifty started with a gap down of more than
150 points. However, indices recovered gradually throughout the
day and ended the day with gains of four-tenths of a percent
around 15750.
Our markets recovered from the lows in Friday session, which
led to some optimism amongst market participants. However,
the global sell-off resulted in a gap down opening to start the
week on a negative note. But again, the bulls were just not ready
to give up and hence, a smart recovery led to a positive close.
Post the recent all-time high posted on 15th June, the indices
have entered a corrective phase and in the last couple of
sessions, some buying interest has again been witnessed around
15500-15450 range. Many of the beaten down stocks during
last week recovered from the lows which led to a positive market
breadth. The banking space too saw some interest yesterday
after the recent underperformance. Now, the support base is
around 15500-15450 range while 15800 and 15880 are the
immediate resistances.
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June 22, 2021
Nifty Vs OI
14800
15000
15200
15400
15600
15800
16000
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
5/25 5/27 5/31 6/2 6/4 6/8 6/10 6/14 6/16 6/18
(`000)
Openinterest Nifty
View
We started-off the session with a downside gap tracking
nervousness from the global market. However, index
attracted fresh buying interest from the word go to
slowly inch higher to wipe-off all the early morning
losses. Infact, we saw index trading in green to finally
conclude the day with the gain over fourth tenth of
percent.
FIIs were net sellers in the cash segment to the tune of
Rs. 1245 crores. In index futures front, they sold worth
Rs 478 crores with increase open interest indicating
short positions formed on Monday.
Surprisingly, despite strong upmove post opening we
hardly saw any relevant longs in Nifty; however, banking
index added decent longs after quite some time. In call
options, we saw some build-up in 15900-16000 strikes.
On the flip side, put strikes of 15500, 15600 and 15750
added some fresh positions. The recovery seen post
opening was fabulous but few data points like Nifty
futures trading in discount, stronger hands not
participation and no long addition in Nifty is really not
giving us the comfort to getting carried away with
yesterday’s upmove. Hence, we would wait for today’s
follow-up activity before adding any directional bets.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.23%.
Bank Nifty futures open interest has increased by 5.38%
as market closed at 15746.50 levels.
The Nifty June future closed with a discount of 2.70
point against a premium of 13.35 point in last trading
session. The July series closed at a premium of 45.30
point.
The INDIA VIX increased from 14.80 to 15.06.
At the same time, the PCR-OI of Nifty increased from
1.18 to 1.22.
Few of the liquid counters where we have seen high cost
of carry are BHEL, IDEA, DABUR, UPL, AARTIIND.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
UBL 2842000 46.99 1419.55 3.82
BATAINDIA 1324950 17.40 1662.90 0.92
UPL 22972300 15.67 772.20 -4.44
AARTIIND 1340025 13.54 1771.90 0.58
CANBK 57537000 12.09 152.30 2.66
SRF 337000 10.63 6933.30 -1.64
ICICIPRULI 4479000 8.35 579.30 -0.15
COFORGE 793950 7.95 4008.70 0.64
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
PETRONET 26982000 -17.28 228.00 0.82
IDFCFIRSTB 129694000 -9.31 58.45 1.47
SUNTV 14391000 -8.66 551.05 -0.24
HDFCLIFE 9761400 -8.52 718.75 1.33
MFSL 2382250 -7.91 1019.50 3.71
BHEL 88735500 -7.56 67.75 6.07
ADANIENT 18653000 -7.25 1540.05 3.53
HEROMOTOCO 3968400 -7.21 2894.85 0.12
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.22 0.88
BANKNIFTY 1.08 0.91
RELIANCE 0.47 0.37
ICICIBANK 0.46 0.43
INFY 0.70 0.44
Historical Volatility
SCRIP HV
GMRINFRA 53.84
BANDHANBNK 68.15
ADANIPORTS 54.45
NTPC 37.31
UBL 39.23
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Technical & Derivatives Report
June 22, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Spot =
15746.50
FII Statistics for June 21, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4897.46 5375.91 (478.45) 121676 12357.53 4.47
INDEX
OPTIONS
359343.78 357609.84 1733.94
1024148 105581.41 21.53
STOCK
FUTURES
34895.78 34821.75 74.03
1453645 114897.74 0.71
STOCK
OPTIONS
14859.92 14408.84 451.08
341535 26531.50 7.05
Total 413996.94
412216.34
1780.60
2941004
259368.18
8.06
Turnover on June 21, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,45,153 32783.78 -15.64
Index Options
3,44,13,743 33,62,641.82 -3.51
Stock Futures
14,67,784 1,17,538.69 16.15
Stock
Options
27,31,710 2,27,256.39 -23.50
Total 3,89,58,390 37,40,220.68 -4.64
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15800 57.75
33.10 66.90 15833.10
Sell 15900 24.65
Buy 15800 57.75
48.50 151.50 15848.50
Sell 16000 9.25
Buy 15900 24.65
15.40 84.60 15915.40
Sell 16000 9.25
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15700 69.10
28.05 71.95 15671.95
Sell 15600 41.05
Buy 15700 69.10
43.65 156.35 15656.35
Sell 15500 25.45
Buy 15600 41.05
15.60 84.40 15584.40
Sell 15500 25.45
Nifty Put-Call Analysis
,0
1000,000
2000,000
3000,000
4000,000
5000,000
6000,000
15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300
Call Put
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June 22, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
661
696
720
755
780
ASIANPAINT 2,998 3,033
3,056
3,091
3,114
AXISBANK
713
726
734
747
754
BAJAJ-AUTO 4,072 4,127
4,162
4,217
4,251
BAJFINANCE 5,931 6,024
6,079
6,172
6,227
BAJAJFINSV 11,621
11,889
12,044
12,312
12,467
BPCL
466
470
473
478
480
BHARTIARTL
529
534
538
543
547
BRITANNIA 3,555 3,602
3,628
3,675
3,701
CIPLA
946
953
958
965
970
COALINDIA
142
145
146
149
151
DIVISLAB 4,133 4,181
4,210
4,258
4,287
DRREDDY 5,197 5,239
5,270
5,312
5,343
EICHERMOT 2,621 2,660
2,701
2,740
2,781
GRASIM 1,438 1,467
1,484
1,513
1,530
HCLTECH
953
968
976
990
998
HDFCBANK 1,447 1,468
1,480
1,501
1,513
HDFCLIFE
699
709
714
724
730
HDFC 2,424 2,470
2,497
2,543
2,570
HEROMOTOCO 2,843 2,869
2,891
2,917
2,939
HINDALCO
356
362
366
372
376
HINDUNILVR 2,441 2,478
2,503
2,540
2,565
ICICIBANK
610
621
627
637
644
IOC
109
111
112
114
115
INDUSINDBK
953
980
995
1,022
1,037
INFY 1,475 1,488
1,497
1,509
1,518
ITC
201
203
204
206
208
JSW STEEL
635
654
665
684
695
KOTAKBANK 1,714 1,743
1,760
1,789
1,806
LT 1,439 1,453
1,461
1,475
1,483
M&M
756
767
773
783
789
MARUTI 6,806 6,853
6,889
6,936
6,972
NESTLEIND 17,427
17,538
17,624
17,735
17,821
NTPC
111
115
117
120
122
ONGC
118
119
121
122
124
POWERGRID
226
230
233
237
240
RELIANCE 2,181 2,209
2,228
2,256
2,276
SBILIFE
958
970
980
992
1,002
SHREECEM 27,366
27,796
28,148
28,578
28,930
SBIN
393
407
414
427
434
SUNPHARMA
657
664
669
677
682
TCS 3,236 3,255
3,270
3,289
3,305
TATACONSUM
722
732
738
748
754
TATAMOTORS
323
328
332
338
342
TATASTEEL 1,048 1,077
1,093
1,122
1,138
TECHM 1,048 1,055
1,063
1,070
1,078
TITAN 1,670 1,707
1,727
1,763
1,784
ULTRACEMCO 6,428 6,602
6,696
6,870
6,964
UPL
748
760
780
792
812
WIPRO
531
537
541
546
550
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Technical & Derivatives Report
June 22, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalresearc[email protected]
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[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