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Technical & Derivatives Report
February 28, 2020
Sensex (
39746)
(1
1633
)
The index continued with the negative momentum post opening
and corrected during the day to breach the swing low of
11614.50. However, it recovered from the low of 11537 in the
later half and ended the session well above 11600 with a cut of
about four-tenths of a percent.
Our markets continued with the sell off recently seen and it
breached the swing low of 3rd February during the day.
However, it managed to find support around the lower end of a
channel and recovered much of the intraday losses. This tail end
recovery has led to formation of a ‘Hammer’ pattern on the daily
chart of Nifty as well as the Bank Nifty index. This pattern is
usually termed as a reversal pattern and a formation of the same
near the support after a corrective phase implies probability of an
up move in the near term. However, the SGX Nifty in the morning
trades is indicating a deep cuts and hence one should wait for the
above pattern to activate which technically will be done above
yesterday’s high of 11664. Till then traders are advised to keep
positions light and avoid undue risk. On the flipside, yesterday’s
low of 11536 will be seen as a sacrosanct support below which
index may test levels of around 11400.
Key Levels
Support 1 – 11536 Resistance 1 – 11664
Support 2 – 11400 Resistance 2 – 11700
Nifty Bank Outlook
-
(
30187
)
The Bank Nifty too continued with the negative momentum
yesterday and breached the 30000 mark during the day to
register intraday low of 29914. However, the tail end recovery
trimmed much of the losses and Bank Nifty ended the day tad
below 30200. Although the Bank Nifty has corrected along with
the broader markets in last few days, it has relatively
outperformed the Nifty index in last few sessions where the index
is comfortably trading above the swing low of 3rd February which
was breached in the Nifty yesterday.Yesterday’s recovery from the
lower levels has led to formation of a bullish hammer pattern in
the Bank Nifty on the daily chart and the formation of this pattern
around its 200 DMA support could augur well in the near term.
The pattern could play its role above the day’s high of 30272
however the global markets in the morning are indicating a deep
cuts and hence traders are advised to wait for the fresh technical
evidence before entering into long positions. Yesterday’s low of
29914 would be now seen as a key support.
Key Levels
Support 1 – 29914 Resistance 1 – 30250
Support 2 – 29800 Resistance 2 – 30480
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
February 28, 2020
Nifty Vs OI
V
i
e
ws
The Nifty index continued with the corrective pahse
yesterday and registered low of 11537. However, it
recovered from the low in the last hour of the day
and ended the session above 11600.
FIIs were net sellers in the cash market segment to the
tune of Rs. 3127 crores. In index futures, they sold
worth Rs. 2200 crores with a fall in open interest on the
expiry day.
FII’s contine to be net sellers in the cash segment as
well as the futures segment. During last series, they
were net short throughout the series in index futures
and they have rolled over much of their short positions
in March series as well. The rollover for Nifty stands at
78% whereas in BankNifty is at 75%. Being start of the
new series, the open interest data is scattered in
options front, but since there are no positive signs from
the stronger hands and global markets continue to
depict a negative momentum, we continue with our
advise for traders to stay light on positions.
Comments
The Nifty futures open interest has decreased by 14.92%
Bank Nifty futures open interest has decreased by
23.31% as market closed at 11633 levels.
The Nifty March future closed with a discount of 14.5
points against a premium of 17.6 points in last trading
session. The April series closed at a premium of 27.7
points.
The INDIA VIX has decreased from 18.26 to 17.59.
At the same time, the PCR-OI of Nifty has increased from
1.01 to 1.37.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GMRINFRA, MCDOWELL-N,
ULTRACEMCO and BOSCHLTD.
OI
Gain
e
rs
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MCDOWELL-N 14636250 2.74 686.35 -0.09
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
- - - - -
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
PETRONET 7902000 -61.40 260.65 -0.29
VEDL 43953000 -51.32 130.55 -0.55
TCS 6488750 -47.33 2105.45 -0.82
MFSL 3065400 -45.42 597.70 1.14
M&M 13898000 -39.96 493.50 -2.07
WIPRO 18201600 -37.80 231.60 -2.98
PVR 782000 -36.98 1972.45 -4.25
TATACHEM 2322900 -36.46 731.80 -1.63
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.37 0.77
BANKNIFTY 0.96 0.79
RELIANCE 0.58 0.61
ICICIBANK 0.51 0.61
INFY 0.63 0.83
Historical Volatility
SCRIP HV
ZEEL 63.21
YESBANK 104.67
TATAMOTORS 60.47
SUNTV 53.85
TORNTPHARM 41.51
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Technical & Derivatives Report
February 28, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (March Series) are given as an information and not as a recommendation.
Nifty Spot
=
11633.30
Lot Size = 75
FII
Statistics
fo
r
Februa
ry
27
, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
7137.36 9337.91 (2200.55) 188177 15552.77 (23.23)
INDEX
OPTIONS
459370.93 452489.31 6881.62
496005 41560.05 (34.74)
STOCK
FUTURES
26111.24 25384.92 726.32
1360101 85721.40 (18.12)
STOCK
OPTIONS
1815.54 1719.14 96.40
16116 1063.90 (73.63)
Total 494435.07
488931.28
5503.79
2060399
143898.12
(24.46)
Turnov
er
on
February 27
,
20
20
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 561002 42102.90 12.30
Index Options 47295676 3216318.13 90.29
Stock Futures 1826411 116552.79 0.56
Stock Options 812004 57338.86 -9.24
Total 5,04,95,093
3432312.68 80.00
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
11600 229.60
51.50 48.50 11651.50
Sell 11700 178.10
Buy 11600 229.60
95.00 105.00 11695.00
Sell 11800 134.60
Buy 11700 178.10
43.50 56.50 11743.50
Sell 11800 134.60
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11600 199.75
40.00 60.00 11560.00
Sell 11500 159.75
Buy 11600 199.75
72.60 127.40 11527.40
Sell 11400 127.15
Buy 11500 159.75
32.60 67.40 11467.40
Sell 11400 127.15
Nifty Put-Call Analysis
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February 28, 2020
Da
ily
Pivot
Levels
for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 346 350
355 359 365
ASIANPAINT 1,794 1,819
1,835 1,860 1,877
AXISBANK 708 722
731 745 754
BAJAJ-AUTO 2,884 2,910
2,940 2,967 2,996
BAJFINANCE 4,659 4,710
4,762 4,813 4,865
BAJAJFINSV 9,162 9,285
9,390 9,513 9,618
BPCL 433 438
444 450 455
BHARTIARTL 523 527
532 536 540
INFRATEL 211 217
221 227 231
BRITANNIA 2,889 2,957
3,029 3,097 3,169
CIPLA 403 412
418 427 433
COALINDIA 168 171
173 176 178
DRREDDY 2,998 3,033
3,063 3,098 3,128
EICHERMOT 16,727 16,890
17,069 17,232 17,411
GAIL 104 106
107 109 110
GRASIM 674 693
705 725 737
HCLTECH 560 567
574 581 589
HDFCBANK 1,173 1,186
1,194 1,208 1,216
HDFC 2,224 2,248
2,269 2,293 2,314
HEROMOTOCO 2,066 2,088
2,123 2,146 2,181
HINDALCO 164 166
168 170 172
HINDUNILVR 2,179 2,217
2,238 2,276 2,298
ICICIBANK 506 511
517 522 528
IOC 103 104
106 108 110
INDUSINDBK 1,080 1,098
1,119 1,136 1,157
INFY 768 773
777 782 785
ITC 194 196
198 199 201
JSW STEEL 242 247
253 258 264
KOTAKBANK 1,649 1,666
1,677 1,694 1,706
LT 1,191 1,200
1,208 1,217 1,225
M&M 479 486
495 502 511
MARUTI 6,096 6,197
6,267 6,368 6,439
NESTLEIND 15,924 16,074
16,208 16,358 16,491
NTPC 105 107
109 111 112
ONGC 90 91
94 95 98
POWERGRID 179 183
185 189 192
RELIANCE 1,358 1,372
1,383 1,397 1,408
SBIN 311 316
323 328 335
SUNPHARMA 362 375
383 396 404
TCS 2,070 2,088
2,104 2,122 2,138
TATAMOTORS 139 142
144 148 150
TATASTEEL 403 408
412 417 421
TECHM 790 800
810 819 829
TITAN 1,235 1,257
1,271 1,293 1,307
ULTRACEMCO 4,231 4,276
4,321 4,366 4,410
UPL 541 546
554 559 566
VEDANTA 124 127
129 132 134
WIPRO 225 228
234 237 242
YESBANK 35 36
37 38 39
ZEEL 236 240
248 252 259
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Technical & Derivatives Report
February 28, 2020
*
Research Team Tel: 022
-
39357800
Website:
www.angelbroking.co
m
For Technical Queries E-mail: technicalresearch[email protected]gelbroking.com
For Derivatives Queries E-mail: derivatives.[email protected]angelbroking.com
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