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Technical & Derivatives Report
February 27, 2020
Sensex (
39889)
(1
1678
)
Following the negative global cues, the Nifty started trading for
the day with another gap down opening. The index showed
recovery from its 200 DMA support during the day; however it
again witnessed a sharp selloff in the last hour of the trade to end
with a loss of a percent.
The spike in the volatility in the global markets kept the traders on
toes yesterday as at one point of time, it seemed that the 200
DMA support has played its role and the index was all set for the
much required pullback. However, the index again corrected
sharply in the last hour of the trade and has ended around the
mentioned average. In last few sessions, Nifty has already seen a
sharp correction of about 600 points and is now trading in the
vicinity of its support zone of the 200 DMA support and the swing
low which is in the range of 11685-11615. The momentum
reading (RSI Smoothened) on the hourly chart also is in oversold
zone and such scenarios usually lead to the pullback moves.
Hence, we could see some relief in the near term on the indices if
we manage to hold the above mentioned support. An up move, if
any, could pull the index towards 11800 and 11885 which would
be the levels to watch out. However, the volatility is expected to
remain high in the near term and hence, traders are advised to
focus on stock specific moves and trade with a proper risk
management strategy.
Nifty Bank Outlook
-
(
30307
)
Bank Nifty as well started with a gap down opening and for the
first few hours traded in a range. In the second half, the volatility
kicked in as the bank Index after a strong bounce to test 30500
witnessed a sharp sell off to mark intraday low of 30131 before
ending tad above 30300 with loss of around half a percent.
As highlighted above, in the last couple of sessions, the bank
index has shown some relative strength to the Nifty as this index is
trading near its 200DMA support which coincides with a bullish
gap. On the F&O expiry session, it would be crucial how this
index hold this support in range 30023 30252 as a bounce
from the same can push prices towards 30700 and 30830
whereas a break may open doors for further weakness towards
29750 levels.
Key Levels
Support 1 – 30131 Resistance 1 – 30700
Support 2 – 30023 Resistance 2 – 30830
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
In last couple of sessions, the Bank Nifty index has shown some
relative strength to the Nifty and this index too is trading near its
200 DMA support. Thus, this index could play a pivotal role
during any pullback move and hence, one should keep a tab on
the index heavyweights from this sector if the above scenario
turns out in line of our anticipation.
Key Levels
Support 1 – 11685 Resistance 1 – 11800
Support 2 – 11615 Resistance 2 – 11880
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Technical & Derivatives Report
February 27, 2020
Nifty Vs OI
11300
11400
11500
11600
11700
11800
11900
12000
12100
12200
12300
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
20,000
2-1 2-4 2-6 2-10 2-12 2-14 2-18 2-20 2-25
(`000)
Openinterest Nifty
V
iews
The Nifty index opened on a negative note
yesterday. Although it recovered from the lows
during the day, it again witnessed selling pressure in
the lalt hour and ended the session below the 11700
mark.
FIIs were net sellers in the cash market segment to the
tune of Rs. 3337 crores. In index futures, they sold
worth Rs. 1262 crores with a rise in open interest,
indicating fresh shorts created in yesterday’s session.
In yesterday's session, 11700 put option witnessed
fresh open interest addition during the day, but as the
index breached the 11700 mark in the last hour, much
of those positions were squared off in the closing hour.
As per options data, 11700 put has the highest open
interest whereas fresh addition was seen in 11750-
11800 call options. Hence, if we do not see any
unwinding in the mentioned put open interest, then
there could be some pullback move in today's session
towards 11750 mark.
Comments
The Nifty futures open interest has increased by 10.26%
Bank Nifty futures open interest has decreased by 1.25%
as market closed at 11678 levels.
The Nifty February future closed with a premium of 19.5
points against a premium of 36.1 points in last trading
session. The March series closed at a premium of 17.6
points.
The INDIA VIX has increased from 16.89 to 18.26.
At the same time, the PCR-OI of Nifty has decreased
from 1.06 to 1.01.
Few of the liquid counters where we have seen high cost
of carry are OIL, MOTHERSUMI, PVR, NMDC,
CHOLAFIN.
OI
Gaine
rs
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
WIPRO 29260800 13.44 239.90 -1.88
PAGEIND 197450 13.14 22119.65 -2.41
INDUSINDBK 17404400 12.28 1135.00 -1.59
MGL 2740800 11.91 1075.35 -2.07
IOC 59704000 11.27 108.35 -1.85
HINDPETRO 23196600 10.61 208.85 -1.02
YESBANK 371940800 10.16 36.55 3.84
DLF 46572900 8.77 212.45 -2.10
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CHOLAFIN 7302500 -22.99 318.10 -2.04
NIITTECH 745125 -17.89 1889.85 -0.10
IGL 12947000 -17.58 455.90 0.33
RAMCOCEM 1128800 -15.20 790.60 -0.41
L&TFH 24640000 -11.49 115.00 -1.24
AMBUJACEM 21327500 -9.85 213.60 1.02
JUSTDIAL 3434200 -8.78 487.35 -0.97
BALKRISIND 1743200 -7.75 1186.30 -2.41
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.01 0.82
BANKNIFTY 0.77 0.86
RELIANCE 0.43 0.61
ICICIBANK 0.57 0.56
INFY 0.66 0.96
Historical Volatility
SCRIP HV
CONCOR 41.80
TATAPOWER 41.00
SUNPHARMA 30.72
CADILAHC 32.20
GAIL 51.53
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Technical & Derivatives Report
February 27, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (February Series) are given as an information and not as a recommendation.
Nifty Spot
=
11678.50
Lot Size = 75
FII
Statistics for
Februa
ry
26
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
7733.35
8995.41
(1262.06) 245129
20483.08
18.41
INDEX
OPTIONS
348709.12
346968.55
1740.57
760006
63154.01
6.74
STOCK
FUTURES
34192.46
35669.84
(1477.38) 1661142
104664.80
2.54
STOCK
OPTIONS
3465.87
3241.34
224.53
61120
3965.18
(12.18)
Total 394100.80
394875.14
(774.34) 2727397
192267.07
4.55
Turnover
on February
26
,
20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 490218 37492.30 22.01
Index Options 23732930 1690236.62 40.75
Stock Futures 1814651 115902.31 1.39
Stock Options 902170 63178.87 -9.34
Total 2,69,39,969
1906810.10 34.70
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
11700 43.25
32.20 67.80 11732.20
Sell 11800 11.05
Buy 11700 43.25
40.35 159.65 11740.35
Sell 11900 2.90
Buy 11800 11.05
8.15 91.85 11808.15
Sell 11900 2.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11700 49.40
32.25 67.75 11667.75
Sell 11600 17.15
Buy 11700 49.40
42.40 157.60 11657.60
Sell 11500 7.00
Buy 11600 17.15
10.15 89.85 11589.85
Sell 11500 7.00
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
4500,000
5000,000
11200
11300
11400
11500
11600
11700
11800
11900
12000
12100
12200
12300
12400
12500
Call Put
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Technical & Derivatives Report
February 27, 2020
Da
ily
Pivot
Levels for
Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 348 353
358 363 368
ASIANPAINT 1,806 1,816
1,831 1,841 1,856
AXISBANK 715 722
729 736 743
BAJAJ-AUTO 2,893 2,920
2,947 2,974 3,001
BAJFINANCE 4,735 4,772
4,805 4,843 4,876
BAJAJFINSV 9,279 9,333
9,414 9,468 9,549
BPCL 434 441
451 458 467
BHARTIARTL 513 524
532 543 551
INFRATEL 207 213
217 223 227
BRITANNIA 2,989 3,015
3,043 3,069 3,096
CIPLA 398 410
418 430 437
COALINDIA 170 172
175 177 180
DRREDDY 3,029 3,052
3,084 3,107 3,139
EICHERMOT 16,700 16,928
17,264 17,493 17,829
GAIL 103 106
110 112 116
GRASIM 686 694
708 717 731
HCLTECH 569 576
583 590 596
HDFCBANK 1,177 1,188
1,197 1,207 1,216
HDFC 2,226 2,254
2,282 2,309 2,337
HEROMOTOCO 2,099 2,121
2,158 2,180 2,217
HINDALCO 165 167
170 173 176
HINDUNILVR 2,178 2,207
2,231 2,260 2,285
ICICIBANK 518 521
525 528 532
IOC 106 107
109 110 113
INDUSINDBK 1,112 1,123
1,137 1,148 1,162
INFY 767 775
788 796 809
ITC 193 196
199 202 205
JSW STEEL 252 256
260 264 268
KOTAKBANK 1,646 1,656
1,667 1,677 1,688
LT 1,186 1,199
1,218 1,231 1,250
M&M 493 498
505 510 518
MARUTI 6,080 6,158
6,263 6,340 6,446
NESTLEIND 15,917 16,078
16,312 16,473 16,707
NTPC 106 108
110 111 113
ONGC 94 95
97 98 100
POWERGRID 182 184
186 188 191
RELIANCE 1,372 1,382
1,397 1,407 1,422
SBIN 321 325
328 331 334
SUNPHARMA 364 369
378 384 393
TCS 2,083 2,103
2,133 2,154 2,184
TATAMOTORS 141 143
145 147 150
TATASTEEL 408 412
416 420 424
TECHM 798 805
815 822 832
TITAN 1,234 1,244
1,256 1,266 1,278
ULTRACEMCO 4,213 4,277
4,350 4,415 4,488
UPL 549 556
563 570 577
VEDANTA 127 129
131 133 135
WIPRO 236 238
241 243 246
YESBANK 33 35
36 38 39
ZEEL 244 248
251 254 257
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Technical & Derivatives Report
February 27, 2020
*
Research Team Tel: 022
-
39357800
Website:
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For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.[email protected]angelbroking.com
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