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Technical & Derivatives Report
April 28, 2020
Sensex (31743) / Nifty (9282)
Yesterday, our markets kickstarted the new trading week with a
good bump up of more than 100 points in Nifty. In fact, the
buying momentum accelerated right from the word go and
during the first half, Nifty hastened beyond the 9350 mark.
However, once again the Nifty struggled to pass through the stiff
hurdle of 9400 and hence, due to some profit taking, the index
closed tad below 9300.
We have been mentioning since last few days that the market
has slipped into a consolidation mode and hence, despite valiant
attempts around 9400, the Nifty is unable to traverse this sturdy
wall. It appears that the market is awaiting for some strong
trigger to come out of this recent congestion. In our sense, if
Nifty has to give a breakout, it should happen in next 2-3
sessions. If it fails to do so we may see long consolidation (due
to lower market participation) or it would result into a decline
towards 9000-8900 levels. Thus next couple of sessions would
be quite crucial for our markets.
Now as far as support levels are concerned for the coming
session, traders should keep a close eye on 9250-9200 levels. At
present, the pragmatic approach would be to stick to a stock
centric approach.
Key Levels
Support 1 – 9250 Resistance 1 – 9400
Support 2 – 9200 Resistance 2 – 9500
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook - (20081)
Bank Nifty as well started with a gap up opening, however, after
the initial upmove, it consolidated in a range for the major part
and ended with gains of 2.52% at 20081.
On the daily chart, the bank index continues to trade within the
triangle pattern and has now approached near the apex point.
The higher end of the pattern is placed around 21125 whereas
the lower end is placed around 19050. A breakout from the
mentioned levels can trigger a directional move. Traders are
advised to trade in the direction of the breakout and till then
have a stock-specific approach.
Key Levels
Support 1 – 19280 Resistance 1 – 20850
Support 2 – 19050 Resistance 2 – 21125
Exhibit 2: Nifty Bank Daily Chart
Technical & Derivatives Report
April 28,
2020
Nifty Vs OI
7400
7600
7800
8000
8200
8400
8600
8800
9000
9200
9400
9600
10,200
10,400
10,600
10,800
11,000
11,200
11,400
11,600
11,800
12,000
12,200
4/1 4/7 4/9 4/15 4/17 4/21 4/23 4/27
(`000)
Openinterest Nifty
View
s
The week started with a gap up opening and after
consolidating in a range Nifty ended with gains of
1.40% at 9282.30.
FIIs were net sellers in the cash market segment to the
tune of Rs. 916 crores. In index futures, they bought
worth 1548 crores with decrease in open interest
indicating short covering and longs created in
yesterday’s session.
FII's were net sellers in the cash segment yesterday.
However, they covered some of their short positions
and formed fresh longs as well in the index futures
segment. Overall, the open interest decreased in both
the indices along with price upmove indicating short
covering in yesterday's session. In options segment,
9000-9300 put options added fresh open interest
indicating a positive sign for this expiry. A move
beyond 9400 could lead to a continued upmove and
hence, traders are advised to trade with a positive bias
till the above mentioned support is intact.
C
o
m
me
n
t
s
The Nifty futures open interest has decreased by 7.06%
Bank Nifty futures open interest has decreased by 8.00
% as market closed at 9282.30 levels.
The Nifty April future closed with a premium of 12.85
point against a discount of 16.15 point in last trading
session. The May series closed at a premium of 28.95
points.
The INDIA VIX has decreased from 39.12 to 38.04.
At the same time, the PCR-OI of Nifty increased from
1.34 to 1.36.
Few of the liquid counters where we have seen high cost
of carry are, IDEA, IDFCFIRSTB, RBLBANK, MFSL,
BANDHANBNK and NCC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MFSL 2332200 51.39 451.95 7.78
SUNTV 4640400 19.17 378.15 0.48
TATACHEM 1593900 18.22 278.25 3.60
JINDALSTEL 16210000 16.83 82.25 3.97
IDEA 501564000 16.61 4.10 3.75
ESCORTS 1821600 16.29 709.10 -0.93
JUSTDIAL 1660400 15.93 348.65 5.95
BIOCON 16024100 15.39 363.15 1.44
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
L&TFH 30704800 -13.15 61.35 8.83
UJJIVAN 4003500 -9.84 164.95 1.07
OIL 3718506 -8.22 86.20 2.68
NATIONALUM 25880400 -8.18 30.95 -1.44
YESBANK 45381600 -6.85 27.05 1.88
GODREJPROP 133900 -6.79 660.15 -0.88
INDIGO 3762300 -6.52 871.10 -2.13
INFRATEL 8442000 -6.18 157.40 3.68
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.36 0.88
BANKNIFTY 1.06 0.78
RELIANCE 0.94 0.56
ICICIBANK 0.72 0.55
INFY 0.66 0.48
Historical Volatility
SCRIP HV
MINDTREE 107.14
ICICIPRULI 130.79
TATACONSUM 90.39
BRITANNIA 84.15
COLPAL 60.13
Technical & Derivatives Report
April 28,
2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot = 9282
.30
FII Statistics for April 27, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
7020.11
5471.62
1548.49
146585
9134.16
(2.57)
INDEX
OPTIONS
98239.94
97736.53
503.41
532383
35187.20
5.64
STOCK
FUTURES
26126.84
26425.00
(298.16) 1527428
76576.07
1.87
STOCK
OPTIONS
3005.35
2931.67
73.68
50685
2468.33
(3.79)
Total 134392.24
132564.82
1827.42
2257081
123365.76
2.29
Turnover on April 27, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,54,197 30097.90 0.00
Index Options 1,07,15,874
5,63,181.85 16.84
Stock Futures 14,35,805 71436.95 19.83
Stock Options 9,56,208 51262.09 -21.58
Total 1,36,62,084
7,15,978.79 12.38
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 9300 123.30
46.20 53.80 9346.20
Sell 9400 77.10
Buy 9300 123.30
79.30 120.70 9379.30
Sell 9500 44.00
Buy 9400 77.10
33.10 66.90 9433.10
Sell 9500 44.00
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 9300 125.75
42.15 57.85 9257.85
Sell 9200 83.60
Buy 9300 125.75
71.35 128.65 9228.65
Sell 9100 54.40
Buy 9200 83.60
29.20 70.80 9170.80
Sell 9100 54.40
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
8700 8800 8900 9000 9100 9200 9300 9400 9500 9600 9700 9800 9900 10000
Call Put
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Technical & Derivatives Report
April 28,
2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
265
268
273
276
280
ASIANPAINT 1,801 1,826
1,843
1,868
1,885
AXISBANK
402
414
422
435
442
BAJAJ-AUTO 2,405 2,455
2,504
2,554
2,602
BAJFINANCE 1,846 1,945
2,015
2,114
2,184
BAJAJFINSV 4,143 4,380
4,525
4,762
4,907
BPCL
344
350
358
363
371
BHARTIARTL
484
489
496
501
508
INFRATEL
151
154
157
161
164
BRITANNIA 2,981 3,111
3,201
3,331
3,421
CIPLA
581
595
614
628
646
COALINDIA
136
137
138
139
141
DRREDDY 3,890 3,935
4,000
4,045
4,110
EICHERMOT 13,620
13,810
14,005
14,195
14,390
GAIL
79
81
82
84
86
GRASIM
482
490
500
509
519
HCLTECH
460
472
479
490
497
HDFCBANK
907
918
938
949
969
HDFC 1,543 1,567
1,610
1,634
1,676
HEROMOTOCO
1,876
1,905
1,927
1,957
1,979
HINDALCO
103
106
108
110
112
HINDUNILVR 2,265 2,293
2,311
2,339
2,357
ICICIBANK
331
340
346
355
361
IOC
80
81
82
83
84
INDUSINDBK
378
393
402
417
426
INFY
649
657
669
677
689
ITC
177
179
180
182
183
JSW STEEL
152
155
158
160
163
KOTAKBANK 1,220 1,262
1,293
1,335
1,366
LT
838
847
861
869
883
M&M
319
325
334
340
349
MARUTI 4,858 4,957
5,091
5,190
5,324
NESTLEIND 17,207
17,579
17,797
18,169
18,387
NTPC
90
91
93
94
95
ONGC
67
68
69
69
70
POWERGRID
156
158
160
162
163
RELIANCE 1,391 1,410
1,443
1,462
1,495
SHREECEM 18,414
18,718
18,959
19,263
19,504
SBIN
179
180
182
183
185
SUNPHARMA
476
483
494
501
512
TCS 1,796 1,816
1,846
1,866
1,896
TATAMOTORS
74
75
75
76
77
TATASTEEL
267
269
273
276
279
TECHM
500
506
512
518
525
TITAN
900
914
926
940
952
ULTRACEMCO 3,295 3,328
3,349
3,382
3,403
UPL
333
341
349
357
364
VEDANTA
77
78
79
80
81
WIPRO
173
177
180
185
188
ZEEL
144
147
150
153
156
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Technical & Derivatives Report
April 28,
2020
*
Research Team Tel: 022 - 39357800 Website: www.angelbroking.com
For Technical Queries E-mail: [email protected]lbroking.com
For Derivatives Queries E-mail: derivative[email protected]
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