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December 29, 2020
Technical & Derivatives Report
Nifty
Bank Out
-
(
30
881
)
The week started on a positive note for the bank index and similar
to the last few sessions it witnessed a steady and gradual upmove
throughout the session to end with gains of 1.57% at 30881.
After struggling to surpass 31000, we witnessed a sharp
correction during the initial part of last week and now prices are
back towards this supply zone. Definitely, the momentum is
gripped by bulls however we will closely watch how the bank nifty
reacts around these levels. As mentioned above if the bank index
breaks above 31000 it can result in the next leg of upmove in the
market. In such a scenario, 31000 is a key pivotal point above that
prices can extend towards 31450 - 31600 levels. On the flip side,
immediate support levels shift higher towards 30538 - 30400
levels. Traders are advised to focus on the stock-specific approach
that are likely to provide trading opportunities on both sides of
the trend.
Key Levels
Support 1 – 30538 Resistance 1 – 31000
Support 2 – 30400 Resistance 2 – 31450
Exhibit 1: Nifty Daily Chart
Sensex (47354) / Nifty (13873)
After giving a spectacular recovery from last Monday's chaos, our
markets managed to reclaim the 13700 mark on a weekly closing
basis. Yesterday morning, the global set up was just perfect to have
a head start in the last week of the current calendar year. Our markets
opened higher at fresh record highs as indicated by the SGX Nifty
and then resumed its upward trajectory after a brief pause.
Eventually, the Nifty closed at fresh record high, tad below 13900.
Market needed some correction or a profit booking for the
gigantic rally, started in November. Last Monday's sharp decline
seemed to have that much needed retracement. The overall
undertone has been so strong, the correction did not even extend
beyond one and half days. Yesterday, the Nifty has once again
entered an uncharted territory and the next milestone of 14000 is
very much in sight now. For the coming trading session, 13800
followed by 13750 should be treated as immediate supports;
whereas on the higher side, 13950 - 14000 are the levels to watch
out for.
Key Levels
Support 1 – 13800 Resistance 1 – 13950
Support 2 – 13750 Resistance2 – 14000
.
Going ahead, it would be interesting to see how BANKNIFTY tackles
it's stiff hurdle of 31000. If it manages to conquer this wall, it will
certainly lead the benchmark to 14000 and beyond levels. It would
be very difficult for index specific traders to find trades for next few
days. Hence, it's better to focus on individual stocks which may
provide opportunities on both sides.
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
December 29, 2020
Nifty Vs OI
13000
13100
13200
13300
13400
13500
13600
13700
13800
13900
14000
12,500
13,000
13,500
14,000
14,500
15,000
15,500
12/15 12/17 12/21 12/24 12/28
(`000)
Openinterest Nifty
View
Our markets started the week on a positive note and
continued the momentum to end the day above 13850.
FIIs were net buyers in the cash segment to the tune of
Rs. 1589 crore. In index future segment, they bought
worth Rs. 433 cr with rise in open interest indicating
fresh longs added in yesterday’s session.
We witnessed price upmove in indices backed by
formation of fresh longs. Fii's bought equities in cash
segment as well as in index futures. In options segment,
we saw open interest addition in 14000-14200 call
options and in 13800 put option. The above data is
positive and hence we expect the index to head
towards the historical mark of 14000. On the flipside,
13800 is likely to act as support and hence, traders are
advised to trade with a positive bias
.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 2.77%
Bank Nifty futures open interest has increased by 9.42%
as market closed at 13873.20 levels.
The Nifty December future closed with a premium 17.35
point against a premium of 14.50 point in last trading
session. The January series closed at a premium of 66.40
point.
The INDIA VIX increased from 19.96 to 20.43.
At the same time, the PCR-OI of Nifty increased from 1.58
to 1.69.
Few of the liquid counters where we have seen high cost
of carry are SAIL, IDEA, CUMMINSIND, SUNPHARMA
AND MRF.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IBULHSGFIN 30848100 21.99 216.90 5.95
GODREJPROP 1669850 18.22 1424.30 4.71
GAIL 26858300 17.88 122.65 2.07
SAIL 121429000 16.26 63.95 6.54
VOLTAS 2862000 12.68 816.00 0.71
CUMMINSIND 2362800 12.07 569.00 -0.83
GMRINFRA 81382500 11.57 25.95 1.17
CHOLAFIN 5300000 11.40 386.40 2.76
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
PNB 155446000 -11.84 32.40 2.54
KOTAKBANK 20058000 -8.98 1988.80 1.52
L&TFH 24229800 -7.76 93.80 4.28
ONGC 53053000 -6.83 93.80 0.70
SRTRANSFIN 4895395 -6.00 1016.05 1.97
PVR 1995521 -5.66 1310.35 2.61
ACC 3223000 -5.64 1622.40 0.41
CIPLA 16276000 -5.55 830.15 -0.21
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.69 1.03
BANKNIFTY 1.15 0.95
RELIANCE 0.50 0.45
ICICIBANK 0.74 0.54
INFY 0.83 0.47
Historical Volatility
SCRIP HV
JSWSTEEL 54.30
SAIL 64.45
TATAMOTORS 67.68
NATIONALUM 53.44
UBL 42.95
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Technical & Derivatives Report
December 29, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot =
13
873.20
FII Statistics for December 28, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4235.55
3803.09
432.46
177550
17380.75
8.77
INDEX
OPTIONS
155724.66
152912.62
2812.04
899893
89022.25
14.67
STOCK
FUTURES
32209.28
33233.93
(1024.65) 1268203
102236.89
(0.44)
STOCK
OPTIONS
6309.14
6155.42
153.72
104080
8477.76
(3.69)
Total 198478.63
196105.06
2373.57
2449726
217117.65
5.15
Turnover on December 28, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,76,146 24645.71 -24.03
Index
Options
1,57,36,36013,74,875.02
-76.51
Stock Futures
12,48,087
1,02,937.17
28.65
Stock
Options
15,95,769
1,37,427.11
-9.17
Total 1,88,56,36216,39,885.01
-73.19
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 13900 83.65
42.75 57.25 13942.75
Sell 14000 40.90
Buy 13900 83.65
67.45 132.55 13967.45
Sell 14100 16.20
Buy 14000 40.90
24.70 75.30 14024.70
Sell 14100 16.20
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 13900 91.75
38.45 61.55 13861.55
Sell 13800 53.30
Buy 13900 91.75
60.60 139.40 13839.40
Sell 13700 31.15
Buy 13800 53.30
22.15 77.85 13777.85
Sell 13700 31.15
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
13200 13300 13400 13500 13600 13700 13800 13900 14000 14100 14200 14300 14400 14500
Call Put
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December 29, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
473
478
486
491
498
ASIANPAINT 2,608 2,646
2,668
2,706
2,728
AXISBANK
611
614
617
621
624
BAJAJ-AUTO 3,356 3,385
3,404
3,433
3,452
BAJFINANCE 5,138 5,171
5,208
5,241
5,278
BAJAJFINSV 8,875 8,935
9,025
9,085
9,175
BPCL
376
379
382
385
388
BHARTIARTL
511
516
522
527
532
BRITANNIA 3,568 3,586
3,616
3,634
3,664
CIPLA
818
824
831
838
845
COALINDIA
136
137
138
139
141
DIVISLAB 3,717 3,742
3,762
3,787
3,808
DRREDDY 5,160 5,181
5,208
5,229
5,256
EICHERMOT 2,410 2,431
2,446
2,467
2,483
GAIL
120
121
122
124
125
GRASIM
890
898
905
914
921
HCLTECH
907
914
921
928
935
HDFCBANK 1,396 1,404
1,413
1,421
1,430
HDFCLIFE
650
664
672
687
694
HDFC 2,418 2,447
2,466
2,495
2,514
HEROMOTOCO 3,028 3,056
3,090
3,117
3,151
HINDALCO
236
238
240
241
243
HINDUNILVR 2,353 2,371
2,394
2,412
2,435
ICICIBANK
511
515
518
523
526
IOC
90
91
92
92
93
INDUSINDBK
846
856
864
874
882
INFY 1,229 1,235
1,241
1,247
1,253
ITC
207
208
209
211
212
JSW STEEL
361
374
381
394
402
KOTAKBANK 1,948 1,969
1,982
2,003
2,016
LT 1,258 1,274
1,282
1,298
1,307
M&M
701
706
712
717
724
MARUTI 7,404 7,444
7,493
7,533
7,582
NESTLEIND 18,330
18,464
18,654
18,788
18,978
NTPC
99
100
101
101
102
ONGC
92
93
94
95
96
POWERGRID
189
190
191
193
194
RELIANCE 1,983 1,993
2,006
2,016
2,028
SBILIFE
868
885
895
912
922
SHREECEM 23,260
23,488
23,799
24,027
24,338
SBIN
265
270
273
278
281
SUNPHARMA
575
581
590
596
605
TCS 2,879 2,904
2,927
2,952
2,975
TATAMOTORS
176
181
184
190
193
TATASTEEL
623
628
632
636
640
TECHM
937
942
949
954
961
TITAN 1,478 1,511
1,529
1,562
1,581
ULTRACEMCO 5,015 5,078
5,119
5,183
5,224
UPL
448
450
454
457
460
WIPRO
379
381
384
386
388
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Technical & Derivatives Report
December 29, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]oking.com
Ruchit Jain Senior Analyst - Technical & Derivatives [email protected]king.com
Rajesh Bhosale Technical Analyst rajesh.bh[email protected]roking.com
Sneha Seth Derivatives Analyst [email protected]angelbroking.com