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Technical & Derivatives Report
November 27, 2020
Nifty
Bank Out
look
-
(
29550
)
After a positive start, the rub-off effect from the previous session
pulled the bank index lower to test the sub-29000 levels. However,
since the undertone is strong bullish this dip got bought into and
positive momentum throughout the remaining part of the day
resulted in Bank Nifty ending with gains of 1.21% at 29550.
The last one month has been spectacular for the banking space as
the bank nifty rallied more than 22% in the November series. With
such a stupendous move prices are now moved away from their
short term moving averages and oscillators are in deep
overbought territory. Hence, despite a strong uptrend, we may see
some in-between dips as we saw in the previous session. Traders
are hence advised to focus on a stocks specific approach that is
likely to give opportunities on both sides of the trend. As far as
levels are concerned, immediate support is placed around 29130
- 28950 whereas resistance is placed around 29880 - 30200.
Key Levels
Support 1 – 29130 Resistance 1 – 29880
Support 2 – 28950 Resistance 2 – 30200
Exhibit 1: Nifty Daily Chart
Sensex (44260) / Nifty (12987)
Markets had a positive start yesterday owing to favourable cues.
However, this was merely a formality as we saw index immediately
surrendering gains to slide inside the negative territory. In this
process, Nifty went on to sneak below 12800 as the banking index
too tested sub-29000 levels. Since the undertone is still strongly
bullish, the mighty bulls once again pounced on this decline. In fact,
the buying momentum accelerated towards the fag end to conclude
the expiry day with yet another percent gains.
The November series has been the historical one for our markets as
we saw two key indices, Nifty and Bank Nifty clocking sizable gains
over 11% and 22%, respectively. In the midst of all this, Nifty
surpassed it's previous record high and reached the milestone of
13000. Clearly, FIIs have been the charioteer of this mesmerizing rally
as they relentlessly pumped money into our market to mark the
biggest single month inflows over Rupees 50000 crores. Now,
coming back to the levels, 13040 - 13146 remains to be an
immediate resistance zone; whereas on the lower side, 12900 -
12868 - 12790 can be seen as a cluster of supports. With yesterday's
move, 12790 - 12730 has become a sacrosanct support, till the time
it is not breached convincingly, one should trade with a positive
bias.
Although the overall trend has been strongly up, we still believe that
one should avoid aggressive bets, rather focus on individual stocks
with proper risk management. The ideal range for coming sessions
would be 13150 - 12730 and till the time we do not breakout
outside this range, we are likely to see trades on both sides,
especially in indices.
.Key Levels
Support 1 – 12900 Resistance 1 – 13040
Support 2 – 12868 Resistance2 – 13146
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
November 27, 2020
Nifty Vs OI
10500
11000
11500
12000
12500
13000
13500
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
10/30 11/3 11/5 11/9 11/11 11/13 11/19 11/23 11/25
(`000)
Openinterest Nifty
View
Our markets started the expiry session marginally positive,
but it corrected upto the support of 12800 till noon. The
support played its role on the expiry day and then, we
witnessed a sharp surge in the end to close tad below the
13000 mark.
FIIs were net buyers in the cash segment to the tune of Rs.
2027 crores. In index future segment, they sold worth Rs.
117 crores with decrease in open interest on the F&O
expiry session.
It was a fabulous series for traders as Nifty clocked gains
of over 11 percent in the November series and tested the
13000 mark for the first time ever. Bank Nifty too
witnessed good amount of longs and outperformed with
gains of over 22 percent. The rollover in Nifty is at 78.68
percent which is above its average of 75.59 percent while
rollover in Bank Nifty too is above its average. It indicates
that long positions in indices have been rolled to the
December series. FII's have continuously pumped in
money in the last one month while in index futures too
they have been bullish. They have rolled their long
positions and their 'Long Short Ratio' at the start of new
series is at 76.6 percent. For the near term, 13100-13200 is
the immediate resistance while 12800 and 12700 are
supports. We may see some consolidation within this
range in the short term and hence, traders are advised to
trade with a stock specific approach and book timely
profits as well.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 15.46%
Bank Nifty futures open interest has decreased by 16.5%
as market closed at 12987 levels.
The Nifty November future closed with a premium of
35.55 point against a premium of 30.95 point in last
trading session. The January series closed at a premium
of 54.60 point.
The INDIA VIX has decreased from 23.12 to 20.02.
At the same time, the PCR-OI of Nifty increased from 1.27
to 1.48.
Few of the liquid counters where we have seen high cost
of carry are TATAMOTORS, SAIL, ASHOKLEY, IBULHSGFIN
AND CADILAHC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HDFCLIFE 13120800 12.68 660.80 -0.99
ICICIGI 642175 12.68 1457.10 5.18
BATAINDIA 1034550 12.37 1525.45 2.82
LT 14320025 7.34 1118.85 0.35
HINDUNILVR 6909600 5.39 2154.20 0.86
PIDILITIND 3075000 5.11 1533.60 -0.54
BOSCHLTD 286900 5.09 12776.40 -1.65
TATASTEEL 39339700 4.74 568.40 5.00
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NATIONALUM 25517000 -49.36 37.70 5.92
PFC 30609400 -35.40 109.10 3.21
TATAMOTORS 58128600 -34.08 173.75 2.36
SAIL 43016000 -33.78 46.55 6.47
PVR 1211232 -32.09 1311.85 0.77
NESTLEIND 225600 -28.97 17742.35 1.23
CANBK 14456800 -28.28 100.00 3.45
ONGC 39562600 -26.84 80.20 -0.74
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.48 0.89
BANKNIFTY 0.91 0.79
RELIANCE 0.65 0.53
ICICIBANK 0.53 0.48
INFY 0.45 0.38
Historical Volatility
SCRIP HV
SIEMENS 41.19
NATIONALUM 52.14
JSWSTEEL 55.74
ICICIGI 51.28
SAIL 64.87
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Technical & Derivatives Report
November 27, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot =
12987
FII Statistics for November 26, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
7282.49
7399.95
(117.46) 134752
12738.34
(23.99)
INDEX
OPTIONS
767041.66
764708.06
2333.60
604327
56989.30
(45.80)
STOCK
FUTURES
24890.22
22352.74
2537.48
1269642
94996.60
(2.30)
STOCK
OPTIONS
2315.16
1840.95
474.21
22910
1733.74
(70.62)
Total 801529.53
796301.70
5227.83
2031631
166457.98
(23.90)
Turnover on November 26, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
7,39,279 61352.15 -15.37
Index Options
8,70,52,922
70,01,971.90
96.24
Stock Futures
14,00,191
1,06,599.39 -19.95
Stock Options
10,96,479
87575.65 -25.80
Total
9,02,88,871
72,57,499.09
86.49
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 13000 279.30
48.55 51.45 13048.55
Sell 13100 230.75
Buy 13000 279.30
97.35 102.65 13097.35
Sell 13200 181.95
Buy 13100 230.75
48.80 51.20 13148.80
Sell 13200 181.95
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 13000 256.40
39.30 60.70 12960.70
Sell 12900 217.10
Buy 13000 256.40
75.55 124.45 12924.45
Sell 12800 180.85
Buy 12900 217.10
36.25 63.75 12863.75
Sell 12800 180.85
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
12500 12600 12700 12800 12900 13000 13100 13200 13300 13400 13500 13600 13700 13800
Call Put
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November 27, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
389
400
406
417
424
ASIANPAINT 2,090 2,122
2,150
2,183
2,210
AXISBANK
584
598
608
622
632
BAJAJ-AUTO 3,014 3,071
3,111
3,168
3,208
BAJFINANCE 4,558 4,690
4,772
4,904
4,986
BAJAJFINSV 8,602 8,704
8,773
8,875
8,944
BPCL
370
374
379
384
389
BHARTIARTL
457
462
466
472
476
BRITANNIA 3,454 3,502
3,537
3,584
3,620
CIPLA
721
730
735
744
750
COALINDIA
123
124
125
126
127
DIVISLAB 3,425 3,485
3,525
3,585
3,625
DRREDDY 4,713 4,807
4,868
4,963
5,024
EICHERMOT 2,471 2,510
2,562
2,601
2,652
GAIL
101
102
103
104
104
GRASIM
835
856
868
890
902
HCLTECH
810
826
836
852
861
HDFCBANK 1,370 1,398
1,415
1,443
1,460
HDFCLIFE
648
654
665
671
682
HDFC 2,166 2,202
2,224
2,260
2,281
HEROMOTOCO 2,943 2,984
3,017
3,057
3,090
HINDALCO
216
223
227
234
238
HINDUNILVR 2,107 2,131
2,146
2,170
2,186
ICICIBANK
461
468
473
480
484
IOC
84
85
85
86
87
INDUSINDBK
823
837
849
863
875
INFY 1,089 1,101
1,110
1,123
1,132
ITC
191
193
194
196
198
JSW STEEL
326
343
352
369
379
KOTAKBANK 1,830 1,859
1,880
1,909
1,930
LT 1,085 1,102
1,118
1,135
1,152
M&M
712
720
728
737
745
MARUTI 6,803 6,899
6,998
7,094
7,193
NESTLEIND 17,061
17,402
17,620
17,961
18,179
NTPC
93
93
94
95
96
ONGC
78
79
80
81
82
POWERGRID
190
194
197
200
203
RELIANCE 1,914 1,933
1,949
1,968
1,984
SBILIFE
842
847
853
857
863
SHREECEM 23,327
23,854
24,227
24,754
25,127
SBIN
238
242
244
248
250
SUNPHARMA
498
505
509
516
520
TCS 2,660 2,690
2,711
2,741
2,761
TATAMOTORS
169
172
173
175
177
TATASTEEL
530
549
560
579
590
TECHM
836
847
857
868
878
TITAN 1,298 1,313
1,323
1,338
1,348
ULTRACEMCO 4,751 4,793
4,833
4,875
4,916
UPL
411
416
419
424
427
WIPRO
344
349
353
358
362
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Technical & Derivatives Report
November 27, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalresearc[email protected]
For Derivatives Queries E-mail: [email protected].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