www.angelbroking.com
Technical & Derivatives Report
June 29
, 2020
Nifty
look
-
(
21592
)
During last week, Bank Nifty resisted around 22500 and corrected
to breach the 21000 mark on Thursday. The index recovered
marginally and ended with gains of over a percent.
On the weekly chart, the Bank Nifty index has formed a 'Doji'
candle at its '20 EMA'. Thus, last week's high and low of 22480 and
20926 will be the important levels to watch for the near term. A
move beyond this range will then lead to some momentum. Until
then, traders are advised to trade with a stock specific approach.
The intraday supports for Bank Nifty are placed around 21350 and
21100 whereas resistances are seen around 22000 and 22250.
Key Levels
Support 1 – 21350 Resistance 1 – 22000
Support 2 – 21100 Resistance 2 – 22250
Exhibit 1: Nifty Daily Chart
Sensex (35171) / Nifty (10383)
The previous week’s tail end surge was followed by a good start
on Monday; but the overall trading range was extremely narrow.
We continued upward momentum on the following day as well, in
fact on Wednesday, markets started with a bang at three months
high. But all of a sudden, markets took a nosedive from higher
levels. This turned out to be a profit booking after a consistent
rally of nearly 800 points in a span of 5-6 days. Last couple of days’
price action was more of a range bound action with a positive bias.
Eventually, Nifty ended the week by adding over a percent from
the previous weekly close.
During the midst of the week, we witnessed a reality check at
10500 and fortunately, the profit booking did not extend too
long. In fact, prior to Friday’s session, we were hoping Nifty not to
close below 10300-10250 levels. Because this would have
resulted in a formation of ‘Shooting Star’ pattern that too near
‘200-SMA’ on the weekly chart. However, due to Friday’s close, we
can see a formation of Spinning Top’ pattern and this generally
indicates neutral bias i.e. neither the bulls dominated, nor the
bears had the upper hand. Ideally a close beyond 10500-10550
would have suggested a stronger closer but nevertheless bulls
somehow managed to defend their territory. Now, the week’s low
of 10194 would now be seen as a key support and as long as we
are above it, there is no reason to worry. So practically speaking,
traders are advised to trail stop losses higher at this level and a
breach of this would result in a strong bout of profit booking in
the market.
Exhibit 2: Nifty Bank Weekly Chart
On the flipside, we expect the rally to continue and a move beyond
10500 would certainly unfold the next leg towards 10700 - 10850
levels. Since, there is a cluster of resistance at every 200 points up
move from hereon, traders are advised to take one step at a time
and should ideally avoid carrying aggressive bets overnight.
Key Levels
Support 1 – 10200 Resistance 1 – 10370
Support 2 – 10100 Resistance 2 – 10450
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Technical & Derivatives Report
June 29
, 2020
Nifty Vs OI
9400
9600
9800
10000
10200
10400
10600
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
6/9 6/11 6/15 6/17 6/19 6/23 6/25
(`000)
Openinterest Nifty
View
s
On Friday, Nifty witnessed a gap up opening and was
followed by choppy moves within a 100 points range.
Nifty eventually ended with gains of 0.91% at 10383.
FIIs were net sellers in the cash market segment to the
tune of Rs. 753 crores. In index futures, they sold
worth 190 crores with a increase in open interest
indicating short formations created on Friday
.
As far as Nifty options activities for the week are
concerned, we witnessed open interest addition in
10500 call option. On the flipside, open interest
addition was seen in 10000 put option. Maximum
open interest for the weekly series is at 11000 call
option and 10000 put option. The weekly options data
indicates a probable trading range of 10000-10500 for
the coming week. Thus, there is possibility of some
consolidation and hence, traders are advised to trade
with a stock specific approach
.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 9.31%
Bank Nifty futures open interest has decreased by 5.32%
as market closed at 10383 levels.
The Nifty July future closed with a discount of 65 point
against a discount of 43.25 point in last trading session.
The August series closed at a discount of 67.6 point.
The INDIA VIX has decreased from 29.72 to 28.73
At the same time, the PCR-OI of Nifty dereased from 1.50
to 1.33.
Few of the liquid counters where we have seen high cost
of carry are IDEA, GMRINFRA, INDUSINDBNK, IDFCFIRSTB
AND SAIL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IDEA 365680000 111.33 10.40 5.53
MINDTREE 1749600 33.44 949.10 3.47
GLENMARK 4839200 28.45 466.70 0.96
JUSTDIAL 1384600 23.32 392.55 3.45
APOLLOHOSP 1380000 21.32 1388.15 -4.18
UBL 856100 18.62 1018.00 -3.36
UJJIVAN 2985400 17.69 237.60 5.73
CUMMINSIND 1434000 14.24 410.60 1.53
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MFSL 1236300 -17.66 515.55 -3.17
CANBK 9700000 -10.23 104.50 -0.86
IBULHSGFIN 11315000 -7.24 227.65 -0.15
GODREJPROP 386100 -7.04 868.25 -1.82
RECLTD 12858000 -5.88 112.65 -1.87
LICHSGFIN 7532000 -4.92 270.90 0.58
PEL 3769150 -4.43 1343.10 -0.17
HEROMOTOCO 2658900 -4.32 2540.45 -0.80
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.33 0.85
BANKNIFTY 0.78 0.83
RELIANCE 0.60 0.48
ICICIBANK 0.54 0.51
INFY 0.83 0.49
Historical Volatility
SCRIP HV
INFY 48.36
ITC 45.84
TCS 42.72
UJJIVAN 77.39
IOC 45.17
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Technical & Derivatives Report
June 29
, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot =
10383
FII Statistics for June 26, 2020
Detail Buy Sell Net
Open Interest
Contracts
Value
(in Cr.)
Change
(%)
INDEX
FUTURES
5797.58
5987.49
(189.91) 109015
7912.36
18.55
INDEX
OPTIONS
152369.78
151434.09
935.69
531878
37026.73
25.41
STOCK
FUTURES
16109.41
15746.50
362.91
1276258
82783.96
0.78
STOCK
OPTIONS
3437.43
3730.48
(293.05) 49098
3201.89
159.78
Total 177714.20
176898.56
815.64
1966249
130924.94
9.16
Turnover on June 26, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,74,849 36351.66 -39.85
Index Options 1,20,57,145
7,14,914.74 -81.89
Stock Futures 8,35,607 53803.86 -45.05
Stock Options 6,87,159 47885.76 -17.09
Total 1,41,54,760
8,52,956.02 -79.51
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 10400 284.60
46.15 53.85 10446.15
Sell 10500 238.45
Buy 10400 284.60
87.90 112.10 10487.90
Sell 10600 196.70
Buy 10500 238.45
41.75 58.25 10541.75
Sell 10600 196.70
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 10400 368.05
43.80 56.20 10356.20
Sell 10300 324.25
Buy 10400 368.05
87.35 112.65 10312.65
Sell 10200 280.70
Buy 10300 324.25
43.55 56.45 10256.45
Sell 10200 280.70
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
9700 9800 9900 10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000
Call Put
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Technical & Derivatives Report
June 29
, 2020
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
335
339
344
348
353
ASIANPAINT 1,650 1,668
1,689
1,708
1,729
AXISBANK
413
419
424
430
435
BAJAJ-AUTO 2,789 2,828
2,864
2,903
2,939
BAJFINANCE 2,758 2,831
2,945
3,018
3,132
BAJAJFINSV 5,720 5,833
5,983
6,097
6,247
BPCL
364
379
388
403
412
BHARTIARTL
552
556
561
565
571
INFRATEL
210
215
223
229
237
BRITANNIA 3,411 3,434
3,467
3,489
3,522
CIPLA
625
630
637
642
649
COALINDIA
138
140
142
144
145
DRREDDY 3,910 3,954
4,010
4,054
4,110
EICHERMOT 17,920
18,197
18,374
18,651
18,828
GAIL
102
103
104
106
107
GRASIM
601
609
618
62
5
634
HCLTECH
532
547
560
576
589
HDFCBANK 1,014 1,035
1,049
1,070
1,084
HDFC 1,726 1,748
1,774
1,795
1,821
HEROMOTOCO
2,494
2,517
2,554
2,577
2,614
HINDALCO
147
149
150
153
154
HINDUNILVR 2,116 2,135
2,157
2,177
2,199
ICICIBANK
339
344
351
356
364
IOC
84
87
88
91
92
INDUSINDBK
472
482
492
502
511
INFY
695
722
737
763
778
ITC
183
189
199
205
215
JSW STEEL
188
190
194
196
200
KOTAKBANK 1,294 1,317
1,350
1,373
1,406
LT
924
943
960
979
995
M&M
489
495
505
512
522
MARUTI 5,638 5,697
5,753
5,812
5,868
NESTLEIND 16,446
16,562
16,746
16,862
17,046
NTPC
95
96
97
98
99
ONGC
82
83
84
85
86
POWERGRID
176
178
180
181
184
RELIANCE 1,702 1,722
1,737
1,757
1,772
SHREECEM 21,526
22,025
22,362
22,861
23,199
SBIN
181
183
186
188
190
SUNPHARMA
462
471
481
490
500
TCS 1,978 2,049
2,090
2,161
2,202
TATAMOTORS
97
99
103
105
108
TATASTEEL
318
321
325
328
333
TECHM
540
551
563
573
585
TITAN
945
955
973
983
1,001
ULTRACEMCO 3,744 3,802
3,838
3,896
3,932
UPL
431
436
443
448
455
VEDANTA
107
108
111
112
115
WIPRO
213
219
225
231
236
ZEEL
170
173
177
180
184
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Technical & Derivatives Report
June 29
, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical & Derivatives Queries E-mail: [email protected]lbroking.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]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com