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May 26, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
-
(
34662)
Yesterday, too the banking index started the day on a positive
note in tandem with the benchmark. However it was merely a
formality as we saw BNAKNIFTY not only erasing early gains but
also slipped well inside the negative territory. During the
remaining part of the day, index remained under pressure with
some hint of recovery towards the end. Due to this, the daily loss
was restricted to 0.81% only.
The magnitude at which the BANKNIFTY took off on Friday to
surpass the 34000 mark convincingly, we should have moved
towards 36000 by now. But clearly there is something that is
holding it back, may be because we are approaching the monthly
expiry. Since the follow up buying is missing, 35000 - 35200 are
acting as stiff hurdles; whereas the overall strength is not letting it
fall below key supports as well. Hence, we are seeing index
trapped in a range where the lower side support is visible around
34400 - 34000. Traders are still advised to remain upbeat as long
as we trade convincingly above 34000 and on the higher side, a
breakout beyond the higher range should trigger some
momentum.
Key Levels
Support 1 – 34400 Resistance 1 – 35000
Support 2 – 34000 Resistance 2 – 35200
Exhibit 2: Nifty Bank Daily Chart
Sensex (50638) / Nifty (15208)
Nifty started the day on a positive note and it initially seemed that
the index was all set to surpass the 15300 mark and continue the
rally. However, the banking space did not extend the support due to
which the Nifty consolidated within a narrow range and ended the
day with negligible gains.
It was a day of consolidation for our market as we saw some
tentativeness at higher levels. However, there was no selling
pressure as well and thus, the near term trend continues to be
positive. Hence, traders should continue to trade with a positive bias
and look for buying opportunities on intraday declines. The intraday
supports for the index are placed around 15165 and 15135 whereas
resistances are around 15300 and 15335. We expect the market to
gradually move higher and surpass the resistances to march toward
new highs in the near term. Hence, buying on dips and having stock
specific trades remains a pragmatic approach.
Key Levels
Support 1 – 15165 Resistance 1 – 15300
Support 2 – 15135 Resistance 2 – 15335
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May 26, 2021
Nifty Vs OI
14000
14200
14400
14600
14800
15000
15200
15400
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
4/28 4/30 5/4 5/6 5/10 5/12 5/17 5/17 5/24
(`000)
Openinterest Nifty
View
We kick started the day with an upside gap to almost
touch 15300 mark. But, in absence of follow-up buying
index consolidated around 15250 in the initial couple of
hours. In latter half, we witnessed some selling to drag
index lower to hit intraday lows of 15163; due to some
respite in the final hour we ended yet another session
almost flat.
FIIs were net buyers in the cash segment to the tune of
Rs. 960 crores. In index futures front, they bought worth
Rs. 1477 crores with meaningful in open interest
indicating long formation in yesterday’s session.
In F&O space, we saw fresh build-up in both the indices
and considering yesterday’s price action we believe
mixed position were formed. In index options front, we
saw fresh writing in 15300 and 15350 call options. On
the other side, 15200 put added some fresh trades.
Stronger hands seem adding positive bets in this
consolidation as they were net buyers in equities and
index futures. We observed that the premiums of Nifty
futures jumped up slightly and the volatility index
continued to decline; this is certainly an encouraging
sign. Hence, we maintain our optimistic stance on
market and would advise adding longs incase of any
dips towards 15100-15150.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 3.52%.
Bank Nifty futures open interest has increased by 6.51%
as market closed at 15208.45 levels.
The Nifty May future closed with a premium of 9.55
point against a premium of 4.95 point in last trading
session. The June series closed at a premium of 39.65
point.
The INDIA VIX decreased from 19.13 to 18.84.
At the same time, the PCR-OI of Nifty has decreased
from 1.30 to 1.22.
Few of the liquid counters where we have seen high cost
of carry are BHEL, UBL, IDFCFIRSTB, BEL and AARTIIND.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
AMARAJABAT 11805000 70.69 733.55 -6.02
SAIL 153577000 14.57 123.95 -0.92
NATIONALUM 87125000 13.01 72.60 -1.43
HDFCLIFE 15403300 12.28 659.15 -1.85
ONGC 53083800 10.13 114.60 1.06
L&TFH 57042208 8.82 88.25 -2.91
TVSMOTOR 5950000 8.45 633.90 1.94
ESCORTS 3721850 8.19 1150.80 -1.73
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
M&M 9365300 -13.06 811.25 -0.08
GMRINFRA 123232500 -11.12 26.95 0.56
POWERGRID 18032000 -10.63 232.90 0.87
BRITANNIA 1985600 -10.39 3439.50 2.18
CANBK 60615000 -10.01 150.45 -2.50
SBIN 108307500 -7.68 412.35 0.27
HEROMOTOCO 3625800 -7.60 2929.70 0.90
RBLBANK 24676100 -7.36 206.10 -1.86
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.22 0.95
BANKNIFTY 0.75 0.97
RELIANCE 0.39 0.43
ICICIBANK 0.87 0.64
INFY 0.62 0.48
Historical Volatility
SCRIP HV
AMARAJABAT 41.27
COLPAL 32.39
CONCOR 51.38
BEL 52.88
CUMMINSIND 43.88
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Technical & Derivatives Report
May 26, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (May Series) are given as an information and not as a recommendation.
Nifty Spot =
15208.45
FII Statistics for May 25, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
7165.26 5688.76 1476.50
147048 15710.72 24.14
INDEX
OPTIONS
374417.54 372231.84 2185.70
1189092 125084.86 6.68
STOCK
FUTURES
43780.82 45740.75 (1959.93) 1468924 112694.28 (1.63)
STOCK
OPTIONS
18095.32 18447.37 (352.05) 236414 18353.37 (7.00)
Total 443458.94
442108.72
1350.22
3041478
271843.23
2.04
Turnover on May 25, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,61,074 35537.34 9.77
Index Options
3,56,15,225 34,26,904.80 10.01
Stock Futures 18,92,533 1,47,639.39 3.09
Stock Options
24,49,689 1,96,041.46 -17.74
Total 4,03,18,521 38,06,122.99 7.86
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15200 83.85
46.95 53.05 15246.95
Sell 15300 36.90
Buy 15200 83.85
70.90 129.10 15270.90
Sell 15400 12.95
Buy 15300 36.90
23.95 76.05 15323.95
Sell 15400 12.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15200 65.75
32.65 67.35 15167.35
Sell 15100 33.10
Buy 15200 65.75
49.75 150.25 15150.25
Sell 15000 16.00
Buy 15100 33.10
17.10 82.90 15082.90
Sell 15000 16.00
Nifty Put-Call Analysis
,0
1000,000
2000,000
3000,000
4000,000
5000,000
6000,000
14500 14600 14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700 15800
Call Put
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Technical & Derivatives Report
May 26, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
749
756
767
774
784
ASIANPAINT 2,787 2,851
2,887
2,950
2,987
AXISBANK
715
723
734
742
753
BAJAJ-AUTO 4,113 4,132
4,159
4,178
4,205
BAJFINANCE 5,543 5,581
5,620
5,658
5,697
BAJAJFINSV 11,124
11,250
11,327
11,453
11,531
BPCL
464
469
474
479
484
BHARTIARTL
521
523
527
530
533
BRITANNIA 3,362 3,401
3,424
3,463
3,486
CIPLA
925
930
935
940
945
COALINDIA
145
146
148
149
151
DIVISLAB 4,054 4,076
4,107
4,129
4,159
DRREDDY 5,230 5,271
5,295
5,336
5,360
EICHERMOT 2,539 2,582
2,608
2,651
2,677
GRASIM 1,331 1,353
1,376
1,398
1,421
HCLTECH
931
936
940
945
949
HDFCBANK 1,444 1,462
1,488
1,505
1,531
HDFCLIFE
647
653
663
670
680
HDFC 2,495 2,513
2,541
2,559
2,588
HEROMOTOCO 2,890 2,910
2,927
2,947
2,965
HINDALCO
383
387
393
397
403
HINDUNILVR 2,319 2,331
2,351
2,363
2,382
ICICIBANK
639
645
648
654
658
IOC
108
109
111
112
113
INDUSINDBK
966
980
996
1,010
1,027
INFY 1,348 1,355
1,361
1,368
1,375
ITC
208
210
212
213
215
JSW STEEL
675
688
701
714
728
KOTAKBANK 1,718 1,734
1,754
1,770
1,790
LT 1,432 1,441
1,452
1,461
1,472
M&M
796
804
816
823
836
MARUTI 6,856 6,884
6,916
6,944
6,976
NESTLEIND 17,229
17,373
17,566
17,709
17,902
NTPC
112
113
114
114
116
ONGC
112
113
115
117
119
POWERGRID
230
231
233
235
236
RELIANCE 1,936 1,950
1,973
1,987
2,010
SBILIFE
958
961
967
971
976
SHREECEM 26,657
26,849
27,092
27,284
27,527
SBIN
405
409
412
416
419
SUNPHARMA
688
692
695
699
701
TCS 3,062 3,088
3,108
3,134
3,154
TATACONSUM
637
643
648
654
659
TATAMOTORS
311
313
316
318
321
TATASTEEL 1,084 1,095
1,110
1,121
1,136
TECHM
975
984
993
1,002
1,011
TITAN 1,520 1,544
1,560
1,584
1,600
ULTRACEMCO 6,464 6,510
6,574
6,620
6,684
UPL
781
789
797
805
814
WIPRO
510
514
519
523
529
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Technical & Derivatives Report
May 26, 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