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June 25, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
-
(
34827)
The BANKNIFTY kick-started the session higher in tandem with
the benchmark. The index extended its gains in the initial hour
and then slipped into a consolidation mode for the remaining
part of the first half. Post the mid-session, the buying resumed in
some of the marquee banking names, which pushed the index
higher towards 34900. However, the expiry factor played out in
the last hour as we saw range bound movement around
important levels.
Although the monthly expiry ended on a positive note, the real
momentum was clearly missing from this high beta space. In
technical terms, the ‘Inside Day’ is visible on the daily chart as the
entire day’s price action was confined to Wednesday’s range.
Now the monthly expiry is over and from hereon we would see
markets building their trend for the new series. For the coming
session, 35000 35100 remains a sturdy wall and a sustainable
move beyond this would trigger some momentum in the banking
space. On the lower side, 34750 34650 34550 has become a
cluster of supports.
Key Levels
Support 1 – 34750 Resistance 1 – 35000
Support 2 – 34550 Resistance 2 – 35100
Exhibit 2: Nifty Bank Daily Chart
Sensex (52699) / Nifty (15790)
Nifty opened marginally higher and traded with a positive bias
during the day. The index managed to end tad below 15800 with
gains of over 100 points.
Although Nifty posted gains of 100 points, it was more of a day of
consolidation with the range of 15700-15800. The index was
managed by the IT stocks which posted good outperformance,
while the heavyweight RIL witnessed some pressure ahead of its
AGM. It seems that it was more due to the F&O expiry that the
indices were locked within a range and there was no major move in
yesterday’s session. In last couple of weeks, we had initially seen a
price wise correction in Nifty where it corrected from 15900 to
15450; and now the index seem to be going a time-wise correction.
It just seems to be a corrective phase within an uptrend and unless
any negative development seen, our market should be geared for a
resumption of the uptrend soon. The IT heavyweights have shown
good strength yesterday but all eyes would now be on the banking
space which could play a pivotal role in driving the index. After a
sharp upmove at the start of the week, the Bank Nifty has
consolidated for three sessions, and if the momentum resumes at
the close of the week then it could result into a resumption of the
momentum in the market.
The immediate support for Nifty is placed in the range of 15700-
15670 while resistance is around 15900 mark. A breakout beyond
these boundaries would then lead to a directional move and hence,
trader should be vigilant on the mentioned levels.
Key Levels
Support 1 – 15700 Resistance 1 – 15870
Support 2 – 15670 Resistance 2 – 15900
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Nifty Vs OI
15200
15300
15400
15500
15600
15700
15800
15900
16000
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
5/28 6/1 6/3 6/7 6/9 6/11 6/15 6/17 6/21 6/23
(`000)
Openinterest Nifty
View
We started-off the monthly expiry session marginally
higher and witnessed decent strength to slowly inch
towards 15800 mark. Eventually, we concluded the day
with the gains of more than 100 points
FIIs were net sellers in the cash segment to the tune of
Rs. 2890 crores. In index futures front, they bought
worth Rs 1780 crores with rise in open interest
indicating long formation.
During the series, we hardly saw any meaningful open
interest activity in Nifty and hence we saw open interest
reduction series on series. Rollover in Nifty and
BankNifty stood at 85% and 84% respectively; which is
above the three month averages. The banking index
underperformed the benchmark and we believe decent
short positions have been rolled over too. Stronger
hands rolled over mixed positions resulting their ‘Long
Short Ratio’ decreasing from 89% to 82% MoM. For the
July series, 16000 call and 15500 puts strikes are
attracting traders attention. At current juncture, 15900-
16000 is a sturdy hurdle; whereas, immediate support is
placed around 15600. Traders are advised trading light
in index and preferring stock specific approach for the
time being.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 6.76%.
Bank Nifty futures open interest has decreased by 8.32%
as market closed at 15790.45 levels.
The Nifty July future closed with a premium of 42.00
point against a premium of 55.40 point in last trading
session. The August series closed at a premium of 88.65
point.
The INDIA VIX decreased from 15.36 to 15.09.
At the same time, the PCR-OI of Nifty increased from
0.96 to 1.21.
Few of the liquid counters where we have seen high cost
of carry are July, IDEA, PNB, ADANIPORTS and
RELIANCE
.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LALPATHLAB 389250 15.59 3194.05 -2.24
RELIANCE 39996250 10.66 2153.50 -2.33
APOLLOTYRE 14515000 7.40 219.85 -1.94
MCDOWELL-N 10933750 4.79 675.15 1.68
SIEMENS 1079925 2.13 2025.45 0.05
MFSL 2249000 1.23 1027.40 1.31
IBULHSGFIN 30420300 0.95 264.45 -1.48
GODREJCP 3676000 0.80 870.40 -1.17
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IDEA 460530000 -42.04 9.55 -3.48
NTPC 48678000 -36.57 118.00 -0.30
SUNTV 10041000 -26.98 535.05 0.57
POWERGRID 16580000 -26.36 231.15 -0.30
VOLTAS 2737000 -23.55 1023.65 -0.89
CHOLAFIN 6163750 -23.15 530.05 -1.03
BANDHANBNK 11232000 -22.47 333.40 0.07
BAJAJ-AUTO 1304500 -20.70 4226.90 0.69
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 0.96 0.89
BANKNIFTY 0.68 0.97
RELIANCE 0.47 0.38
ICICIBANK 0.46 0.45
INFY 0.85 0.61
Historical Volatility
SCRIP HV
TCS 33.09
INFY 35.94
MGL 42.97
TECHM 38.91
RELIANCE 41.12
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Technical & Derivatives Report
June 25, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot =
15790.45
FII Statistics for June 24, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
9059.99 7280.05 1779.94
140389 11378.18 13.26
INDEX
OPTIONS
729209.51 738020.99 (8811.48) 575901 54323.30 (56.63)
STOCK
FUTURES
28766.02 28789.32 (23.30) 1316744 104616.70 (6.90)
STOCK
OPTIONS
8471.12 7079.26 1391.86
64567 4940.19 (76.30)
Total 775506.64
781169.62
(5662.98) 2097601
175258.37
(33.17)
Turnover on June 24, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
4,71,286 42969.37 22.60
Index
Options
7,98,30,456 77,52,781.00 57.56
Stock Futures
17,83,173 1,37,288.81 -1.11
Stock
Options
21,97,889 1,66,862.19 -5.12
Total 8,42,82,804 80,99,901.37 53.69
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15800 289.15
56.30 43.70 15856.30
Sell 15900 232.85
Buy 15800 289.15
104.85 95.15 15904.85
Sell 16000 184.30
Buy 15900 232.85
48.55 51.45 15948.55
Sell 16000 184.30
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15800 254.90
37.00 63.00 15763.00
Sell 15700 217.90
Buy 15800 254.90
71.40 128.60 15728.60
Sell 15600 183.50
Buy 15700 217.90
34.40 65.60 15665.60
Sell 15600 183.50
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300
Call Put
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Technical & Derivatives Report
June 25, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
689
699
712
723
736
ASIANPAINT 2,949 2,996
3,023
3,070
3,097
AXISBANK
726
733
738
744
750
BAJAJ-AUTO 4,127 4,177
4,207
4,256
4,286
BAJFINANCE 5,957 6,000
6,054
6,097
6,151
BAJAJFINSV 12,067
12,200
12,298
12,431
12,529
BPCL
462
464
467
469
473
BHARTIARTL
522
526
531
534
539
BRITANNIA 3,628 3,658
3,682
3,712
3,736
CIPLA
937
944
951
958
966
COALINDIA
144
145
147
148
150
DIVISLAB 4,170 4,210
4,235
4,275
4,300
DRREDDY 5,216 5,247
5,281
5,312
5,346
EICHERMOT 2,671 2,689
2,712
2,730
2,753
GRASIM 1,478 1,489
1,498
1,508
1,517
HCLTECH
959
974
984
1,000
1,010
HDFCBANK 1,477 1,492
1,503
1,517
1,528
HDFCLIFE
708
714
718
724
728
HDFC 2,466 2,477
2,496
2,507
2,526
HEROMOTOCO 2,867 2,887
2,913
2,933
2,960
HINDALCO
363
366
369
372
376
HINDUNILVR 2,459 2,475
2,490
2,505
2,520
ICICIBANK
620
627
632
639
643
IOC
109
110
112
113
115
INDUSINDBK
990
995
1,002
1,007
1,013
INFY 1,489 1,524
1,546
1,582
1,604
ITC
201
202
203
204
206
JSW STEEL
659
669
675
685
692
KOTAKBANK 1,720 1,729
1,736
1,745
1,752
LT 1,469 1,486
1,500
1,518
1,531
M&M
773
783
788
798
803
MARUTI 7,356 7,442
7,496
7,582
7,636
NESTLEIND 17,190
17,405
17,537
17,752
17,885
NTPC
115
116
117
119
120
ONGC
120
121
123
124
126
POWERGRID
226
229
231
233
236
RELIANCE 2,095 2,124
2,169
2,199
2,244
SBILIFE
990
996
1,001
1,007
1,011
SHREECEM 28,294
28,483
28,789
28,978
29,284
SBIN
412
415
419
421
425
SUNPHARMA
656
661
666
670
675
TCS 3,241 3,307
3,345
3,412
3,450
TATACONSUM
749
753
758
763
768
TATAMOTORS
331
333
335
337
339
TATASTEEL 1,089 1,101
1,111
1,123
1,133
TECHM 1,042 1,061
1,072
1,091
1,101
TITAN 1,755 1,768
1,780
1,793
1,806
ULTRACEMCO 6,854 6,908
6,943
6,997
7,033
UPL
790
802
809
820
827
WIPRO
535
542
546
553
558
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Technical & Derivatives Report
June 25, 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]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