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Technical & Derivatives Report
April 23, 2020
Sensex (
31380)
/ Nifty
(
9187
)
Despite SGX Nifty indicating a sluggish start, we began half a
percent higher; courtesy to a bumper opening in heavyweight
RELIANCE INDUSTRIES after the announcement of Facebook-Jio
deal. However, similar to previous session, the index declined
after the opening ticks in first half an hour of trade. But this time,
the dip had come not to extend the correction but to rally
higher. Post the initial hour, we saw strong buying emerging
across the board, mainly in financial stocks, which accelerated as
the day progressed to recoup major chunk of previous day’s
losses.
One day up one day down, is clearly a sign of lack of direction
and market is clueless which way to move. In a technical term,
this phase is known as a consolidation. But within this
consolidation, Nifty surpassing 9100 immediately is a sign of
strength and hence, 9100-9000 now becomes a sacrosanct
support zone. On the upside, we will not be surprised to see this
rally getting extended towards 9275 - 9350. But if some strong
directional move has to trigger, Nifty has to surpass the upper
range of 9350 convincingly. In this case, it unfolds the next leg
to head towards 9500-9700.
Considering recent price behaviour, it’s better not to pre-empt
anything, rather it’s better to take one step at a time. Yesterday,
it was a day of good stock specific moves and hence, one needs
to keep identifying such potential movers.
Key Levels
Support 1 – 9100 Resistance 1 – 9275
Support 2 – 9000 Resistance 2 – 9300
Nifty Bank Outlook - (19702)
Bank Nifty witnessed some pressure in the first hour of the trade
post opening. However, post some consolidation the index
rallied in the last couple of hours and ended the session with
gains of about one and a half percent. Although the index
underperformed the Nifty index in terms of percentage gains,
the pullback move in last couple of hours led to some gains in
the index and its components. For today's session, 19500
followed by 19250 would be seen as support whereas 20250
and 20400 would be seen as resistances. Traders are advised to
take a stocks specific approach and trade with the momentum.
Key Levels
Support 1 – 19500 Resistance 1 – 20250
Support 2 – 19250 Resistance 2 – 20400
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
April 23, 2020
Nifty Vs OI
7400
7600
7800
8000
8200
8400
8600
8800
9000
9200
9400
10,200
10,400
10,600
10,800
11,000
11,200
11,400
11,600
11,800
12,000
12,200
4/1 4/3 4/7 4/8 4/9 4/13 4/15 4/16 4/17 4/20 4/21 4/22
(`000)
Openinterest Nifty
V
iew
s
Nifty started with a gap up opening however it
immediately gave away this gains in the first half an
hour. This dip got bought into as Nifty ended with
gains of 2.29% at 9187.30.
FIIs were net sellers in the cash market segment to the
tune of Rs. 1326 crores. In index futures, they bought
worth 417 crores with decreased in open interest
indicating short covering and longs created in
yesterday’s upmove.
FII's were net sellers in the cash segment whereas
they covered some of their short positions in index
futures. In Tuesday's session, we witnessed short
formations in the banking index. In yesterday's
upmove, open interest decline of just 1.48% was seen
in the Bank Nifty which indicates short positions are
still intact. In options segment, 9000 put options
witnessed open interest addition yesterday and thus it
is now seen as the immediate support. On the flipside,
9300 followed by 9500 would be the immediate levels
to watch.
C
om
me
n
t
s
The Nifty futures open interest has increased by 1.54%
Bank Nifty futures open interest has decreased by 1.48
% as market closed at 9187.30 levels.
The Nifty April future closed with a premium of 1 point
against a discount of 9.85 points in last trading session.
The May series closed at a premium of 29.2 points.
The INDIA VIX has decreased from 45.20 to 42.82.
At the same time, the PCR-OI of Nifty increased from
1.22 to 1.37.
Few of the liquid counters where we have seen high cost
of carry are, IDEA, UPL, NCC, CENTURYTEX and
JINDALSTEL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GODREJPROP 94900 31.53 667.60 -2.50
COLPAL 2171400 25.03 1507.90 7.81
ESCORTS 1838100 21.79 749.75 3.48
CENTURYTEX 2218800 20.53 285.25 -8.22
HEROMOTOCO 2669200 18.93 1887.70 3.71
VOLTAS 1945000 17.74 503.35 0.83
ACC 1685200 16.83 1229.60 8.66
UBL 572600 16.19 924.25 0.45
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CUMMINSIND 1192500 -4.74 411.55 3.03
IBULHSGFIN 9457200 -3.98 115.50 2.17
YESBANK 47520000 -2.95 29.60 -0.17
BIOCON 12640800 -2.76 360.60 0.74
SRF 522750 -2.52 3443.15 3.80
PEL 3178374 -2.18 839.85 1.85
SBIN 87678000 -2.04 188.70 2.17
PVR 1461600 -1.67 992.15 -2.05
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.37 0.92
BANKNIFTY 0.81 0.73
RELIANCE 1.11 0.53
ICICIBANK 0.63 0.63
INFY 0.73 0.63
Historical Volatility
SCRIP HV
COLPAL 61.90
ZEEL 153.64
ACC 81.75
AMARAJABAT 95.85
RELIANCE 107.31
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Technical & Derivatives Report
April 23, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty
Spot = 9187.30
FII Statistics for April 22, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
6678.20
6260.71
417.49
155656
9555.80
(0.42)
INDEX
OPTIONS
200121.95
200320.24
(198.29) 539012
34954.61
1.30
STOCK
FUTURES
16350.06
15773.31
576.75
1478170
73788.55
1.09
STOCK
OPTIONS
3910.78
3956.50
(45.72) 48756
2352.50
5.12
Total 227060.99
226310.76
750.23
2221594
120651.46
1.12
Turnover on April 22, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 6,69,527 34238.34 16.87
Index Options 1,90,60,607
9,65,768.03 46.63
Stock Futures 10,46,251 52802.16 13.93
Stock Options 9,43,474 53073.38 23.87
Total 2,17,19,859
11,05,881.91 42.30
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9200 211.30
48.75 51.25 9248.75
Sell 9300 162.55
Buy 9200 211.30
88.85 111.15 9288.85
Sell 9400 122.45
Buy 9300 162.55
40.10 59.90 9340.10
Sell 9400 122.45
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9200 222.55
43.05 56.95 9156.95
Sell 9100 179.50
Buy 9200 222.55
80.15 119.85 9119.85
Sell 9000 142.40
Buy 9100 179.50
37.10 62.90 9062.90
Sell 9000 142.40
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700 9800 9900 10000
Call Put
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Technical & Derivatives Report
April 23, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
253
262
268
278
283
ASIANPAINT 1,673 1,743
1,782
1,853
1,892
AXISBANK
403
417
426
440
448
BAJAJ-AUTO 2,247 2,313
2,363
2,429
2,479
BAJFINANCE 1,966 2,057
2,114
2,205
2,261
BAJAJFINSV 4,361 4,569
4,692
4,899
5,023
BPCL
328
343
351
365
374
BHARTIARTL
479
490
504
515
529
INFRATEL
162
165
167
169
171
BRITANNIA 2,774 2,864
2,917
3,006
3,059
CIPLA
576
582
591
596
605
COALINDIA
133
137
139
143
145
DRREDDY 3,904 3,981
4,037
4,114
4,171
EICHERMOT 12,871
13,287
13,616
14,032
14,361
GAIL
78
81
83
86
88
GRASIM
498
504
509
515
520
HCLTECH
441
452
461
471
480
HDFCBANK
897
913
923
939
949
HDFC 1,604 1,634
1,656
1,687
1,709
HEROMOTOCO
1,755
1,821
1,863
1,929
1,971
HINDALCO
101
104
107
110
113
HINDUNILVR 2,230 2,308
2,354
2,432
2,478
ICICIBANK
317
327
332
342
347
IOC
77
80
82
85
87
INDUSINDBK
371
394
407
429
443
INFY
621
632
638
649
655
ITC
173
178
181
185
188
JSW STEEL
152
157
160
164
167
KOTAKBANK 1,084 1,118
1,142
1,177
1,201
LT
827
840
863
875
898
M&M
310
325
336
350
361
MARUTI 4,883 5,032
5,140
5,289
5,397
NESTLEIND 16,504
17,073
17,386
17,956
18,269
NTPC
93
95
97
99
101
ONGC
59
62
64
68
70
POWERGRID
154
158
161
164
167
RELIANCE 1,265 1,314
1,350
1,399
1,434
SHREECEM 18,142
18,679
19,150
19,687
20,158
SBIN
178
184
187
192
195
SUNPHARMA
462
468
475
482
489
TCS 1,689 1,729
1,760
1,800
1,830
TATAMOTORS
71
73
75
77
79
TATASTEEL
255
262
266
272
277
TECHM
501
510
516
524
531
TITAN
910
931
943
964
976
ULTRACEMCO 3,343 3,392
3,425
3,474
3,507
UPL
327
340
350
363
372
VEDANTA
72
74
76
78
79
WIPRO
173
176
178
180
182
ZEEL
121
136
146
161
171
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Technical & Derivatives Report
April 23, 2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: techni[email protected]king.com
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