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Technical &
Derivatives Report
September 30, 2020
Nifty
look
-
(
21411
)
Yesterday, Bank Nifty started on a flat to mild positive note
however from the word go it started to come down. Subsequently,
the bank index then traded choppy within a range and ended with
a loss of 1.17% at 21411.
In our yesterday's outlook, we had clearly stated that the recent
upmove is just a bounce after the sharp fall and is likely to fizzle
out soon. Yesterday there was no follow-up move to the previous
two session's upmove and the bank index again underperformed
similar to the recent times. Going ahead we reiterate our view on
the bank index that any upmove is likely to face selling pressure
and the trend remains weak. As far as levels are concerned,
immediate resistance is placed around 21650 - 21900 levels
whereas support is placed around 21440 and 21000 levels.
Key Levels
Support 1 – 21440 Resistance 1 – 21650
Support 2 – 21000 Resistance 2 – 21900
Exhibit 1: Nifty Daily Chart
Sensex (37973) / Nifty (11222)
For the third straight session, our markets opened with an upside
gap owing to favorable cues from the global bourses. In the initial
trade, Nifty reclaimed the 11300 mark which was broken severely
last week. However, unlike the last couple of sessions, the bulls
looked a bit tentative at higher levels, which resulted in a healthy
intraday correction around the mid session. This was followed by
almost complete recovery in the penultimate hour, which again got
sold into to conclude the day on a flat note.
After two days of spectacular recovery, the market took a breather
yesterday; however, the volatility was slightly on the higher side.
Technically there is a reason for this tentativeness around the 11300
mark.The previous breakdown point of the 'Triangle' is placed
around it and importantly, the 61.8% retracement of the recent fall
from 11618.10 to 10790.20 precisely coincides around the same
mark. Hence, we continue to consider 11250-11350 as a sturdy wall
for a time being. For the coming session, we are likely to see further
weakness once Nifty sustains below 11180 to retest 11100 - 11000
levels. Hence, it's better to stay light and avoid getting carried away
by such intermediate recoveries.
Exhibit 2: Nifty Bank Daily Chart
On the sectoral front, the IT showed some strength yesterday along
with Metal counters and mighty RELIANCE. They helped NIfty
defend its key support yesterday; whereas the dragger banking
space provided selling pressure at higher levels. Although, individual
themes are playing out well but we still advocate refraining from
creating aggressive bets (overnight).
.Key Levels
Support 1 – 11180 Resistance 1 – 11300
Support 2 – 11100 Resistance2 – 11350
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Technical & Derivatives Report
September 30, 2020
Nifty Vs OI
10400
10600
10800
11000
11200
11400
11600
11800
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
9/16 9/17 9/18 9/21 9/23 9/24 9/25 9/28 9/29
(`000)
Openinterest Nifty
View
s
The indices started the session on a positive note
yesterday. However, Nifty resisted around the 11300
mark and then corrected led by the banking space.
FIIs sold worth Rs. 1457 crores in cash market segment
whereas in index future segment the sold worth Rs. 644
crores with increase in open interest indicating long
unwinding and short position created yesterday.
Marginal open interest increase was seen in both the
indices and FII's formed some short positions in index
futures. As per the options segment, 11300 was the
resistance as it had decent amount of open interest and
further addition was seen in 11300 and 11400 strikes
yesterday. The options segment indicates probability
of some consolidation in a broad range of 11000-11300
and thus, traders are advised to look for stock specific
trading opportunities.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.80%
Bank Nifty futures open interest has increased by 2.62%
as market closed at 11222.40 levels.
The Nifty October future closed with a premium of 12.3
point against a premium of 10.45 point in last trading
session. The November series closed at a premium of
33.35 point.
The INDIA VIX has increased from 19.57 to 19.77.
At the same time, the PCR-OI of Nifty decreased from
1.37 to 1.28.
Few of the liquid counters where we have seen high cost
of carry are IDEA, HDFCLIFE, ADANIENT, GMRINFRA,
AND ONGC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BAJAJ-AUTO 1938250 17.61 2897.50 -2.31
IGL 6825500 15.95 391.25 -3.39
TECHM 12416400 13.67 768.15 -1.28
TATACHEM 6370000 13.43 299.95 0.87
BATAINDIA 1804550 11.52 1347.55 0.14
SRF 606250 10.63 4135.45 -1.15
HEROMOTOCO 2023500 10.37 3174.95 2.56
IDEA 366520000 9.45 9.80 -4.81
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BALKRISIND 1788000 -7.87 1481.50 2.01
TCS 5549100 -7.56 2488.40 2.32
COFORGE 517875 -6.75 2330.75 -2.06
VOLTAS 1689000 -6.43 683.60 -0.87
ESCORTS 2410100 -6.33 1313.65 1.17
PVR 1553926 -5.38 1198.05 -3.02
HAVELLS 5268000 -5.01 666.60 -2.55
SHREECEM 171600 -4.85 19834.60 1.47
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.28 0.95
BANKNIFTY 0.84 0.86
RELIANCE 0.57 0.37
ICICIBANK 0.72 0.62
INFY 0.52 0.30
Historical Volatility
SCRIP HV
PAGEIND 48.56
BANKBARODA 59.06
ULTRACEMCO 45.33
HINDALCO 64.89
POWERGRID 38.07
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Technical & Derivatives Report
September 30, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (October Series) are given as an information and not as a recommendation.
Nifty Spot =
11222.40
FII Statistics for September 29, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3146.54
3790.30
(643.76) 101832
7440.38
4.75
INDEX
OPTIONS
189169.89
190260.09
(1090.20) 782598
59963.68
1.34
STOCK
FUTURES
14470.76
14337.78
132.98
1119137
75687.67
1.25
STOCK
OPTIONS
3573.01
3573.65
(0.64) 54068
3899.31
8.79
Total 210360.20
211961.82
(1601.62) 2057635
146991.04
1.64
Turnover on September 29, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 5,05,361 32812.98 6.57
Index Options
2,54,12,581 16,86,136.29 36.42
Stock Futures
7,47,224 56687.85 6.15
Stock Options
7,86,408 63403.32 5.47
Total 2,74,51,574 18,39,040.44 33.24
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11200 251.00
53.60 46.40 11253.60
Sell 11300 197.40
Buy 11200 251.00
101.45 98.55 11301.45
Sell 11400 149.55
Buy 11300 197.40
47.85 52.15 11347.85
Sell 11400 149.55
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11200 215.70
37.20 62.80 11162.80
Sell 11100 178.50
Buy 11200 215.70
69.15 130.85 11130.85
Sell 11000 146.55
Buy 11100 178.50
31.95 68.05 11068.05
Sell 11000 146.55
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
10500 10600 10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800
Call Put
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Technical & Derivatives Report
September 30, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
332
336
341
346
351
ASIANPAINT 1,932 1,946
1,968
1,982
2,004
AXISBANK
413
420
432
439
450
BAJAJ-AUTO 2,812 2,855
2,933
2,976
3,054
BAJFINANCE 3,190 3,242
3,307
3,360
3,425
BAJAJFINSV 5,703 5,790
5,920
6,007
6,137
BPCL
370
378
386
394
402
BHARTIARTL
422
429
437
444
452
BRITANNIA 3,650 3,694
3,745
3,788
3,839
CIPLA
742
752
769
779
796
COALINDIA
114
116
119
120
123
DIVISLAB 2,993 3,027
3,083
3,118
3,174
DRREDDY 5,013 5,049
5,102
5,137
5,190
EICHERMOT 2,161 2,180
2,199
2,218
2,238
GAIL
86
87
88
89
90
GRASIM
701
711
725
736
750
HCLTECH
790
802
821
833
852
HDFCBANK 1,042 1,052
1,061
1,071
1,080
HDFCLIFE
551
561
574
584
597
HDFC 1,667 1,690
1,705
1,728
1,743
HEROMOTOCO 3,050 3,112
3,167
3,230
3,285
HINDALCO
165
171
174
180
183
HINDUNILVR 1,998 2,016
2,042
2,060
2,087
ICICIBANK
349
353
358
362
368
IOC
73
74
75
76
77
INDUSINDBK
509
523
542
556
575
INFY
990
999
1,014
1,023
1,038
ITC
165
167
171
173
177
JSW STEEL
272
278
282
289
293
KOTAKBANK 1,238 1,251
1,272
1,284
1,306
LT
880
888
900
908
921
M&M
591
602
614
625
638
MARUTI 6,600 6,671
6,742
6,814
6,885
NESTLEIND 15,406
15,514
15,682
15,790
15,958
NTPC
82
84
86
88
90
ONGC
66
68
70
72
74
POWERGRID
158
161
165
168
172
RELIANCE 2,194 2,220
2,242
2,267
2,290
SBILIFE
785
797
814
826
844
SHREECEM 19,100
19,467
19,719
20,086
20,337
SBIN
180
183
186
188
191
SUNPHARMA
496
501
510
515
523
TCS 2,391 2,439
2,475
2,524
2,560
TATAMOTORS
128
130
133
135
138
TATASTEEL
358
364
368
374
378
TECHM
748
758
774
784
800
TITAN 1,125 1,146
1,160
1,181
1,195
ULTRACEMCO 3,893 3,978
4,028
4,112
4,163
UPL
476
484
499
508
523
WIPRO
305
308
314
317
322
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Technical & Derivatives Report
September 30, 2020
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalresearch-[email protected]
For Derivatives Queries E-mail: [email protected]angelbroking.com
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.cha[email protected]roking.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