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Technical & Derivatives Report
October 30, 2020
Nifty
Bank Out
look
(
24092
)
Bank Nifty started with a gap down opening however on the
October expiry session it traded choppy within a range and ended
tad near the opening levels with a loss of around 0.58% at 24092.
The bank nifty defended the key support of the bullish gap and
20EMA placed around 23750 levels to end with an
indecisive pattern known as 'Doji'. Despite of recent weakness, we
remain hopeful for the bulls, and going ahead a move beyond
yesterday's trading range will be crucial for the next directional
move. A break below yesterday's low around 23750 can violate
important support levels which can trigger further short-term
weakness whereas sustain trade above the high around 24440 can
push prices back towards 25000 levels. Traders are hence advised
to keep a tab on the above levels and trade accordingly.
Key Levels
Support 1 – 23900 Resistance 1 – 24440
Support 2 – 23750 Resistance 2 – 24750
Exhibit 1: Nifty Daily Chart
Se
nsex
(
39750)
/ Nifty
(
11671
)
Global markets witnessed a complete mayhem overnight and after
this, they took some breather in the morning as we saw Dow Futures
trading with a decent uptick over 250 points. Hence, the damage was
not that big at the open in our market. In the initial trades, Nifty
immediately slid towards the 11600 mark but all of a sudden, the
strong buying emerged at lower levels to reclaim 11700 around the
mid session. But since the volatility has increased drastically over the
past couple of days, this recovery got sold once again to test
morning's low. Fortunately, the key support was defended eventually
in this roller-coaster move to conclude the October series above
11600.
Since the last few days, almost all chartists are keeping a close eye
on 11660 and has been considered a strong as well as crucial
support. On several occasions, we also mentioned about staying
hopeful till the time this support is not violated convincingly.
Yesterday, despite global sell off, our markets successfully defended
this level on a closing basis. On the hourly we observed a 'Bullish
Wolfe wave' pattern early in the morning but refrained from taking
long to avoid the immense volatility and wild swings on the expiry
day. We still remain hopeful but the real conviction will now come
only after Nifty surpassing the intermediate hurdle of 11770 - 11800
and if this has to happen, globally we need to have some respite and
for us, the banking should resume the upward trajectory. For the
coming session, the intraday support is at 11600.
Exhibit 2: Nifty Bank Daily Chart
Yesterday, despite the index struggling for the most part of the day,
there were a bundle of stocks who were bucking the trend and have
shown some encouraging moves. Also, if we take a glance at the
midcap index, it is still interestingly poised. Let see how we tackle
this global volatility and let's hope for concerns to subside.
.Key Levels
Support 1 – 11600 Resistance 1 – 11770
Support 2 – 11540 Resistance2 – 11800
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Technical & Derivatives Report
October
30, 2020
Nifty Vs OI
11500
11600
11700
11800
11900
12000
12100
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
10/12 10/14 10/16 10/20 10/22 10/26 10/28
(`000)
Openinterest Nifty
Vie
w
s
Nifty started the session on a negative note owing to
the weak global cues. However, it defended the 11600
mark and oscillated within a broad range to end the
expiry day with a loss of about half a percent.
FIIs were net sellers in the cash segment to the tune of
Rs. 421 crores. In index future segment, they sold worth
Rs. 1659 crores with decrease in open interest.
The rollover in Nifty was at 77.45 percent which is
slightly above its 3-month average while that in Bank
Nifty was below its average. FII's now have about 53
percent of their positions in the index futures segment
on the short side indicating that they are cautious on
the market. India VIX ended around 24 which is at the
higher end of the recent range and hence, traders are
advised to keep a tab on the same. The immediate
supports for Nifty are placed around 11600 and 11500.
The volatility could continue to be high in the near term
and hence, traders are advised to look for stock specific
opportunities and avoid taking higher risk.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 20.54%
Bank Nifty futures open interest has decreased by 16.95%
as market closed at 11670.80 levels.
The Nifty November future closed with a discount of 2.90
point against a premium of 4.95 point in last trading
session. The December series closed at a premium of
13.05 point.
The INDIA VIX has increased from 23.28 to 24.02.
At the same time, the PCR-OI of Nifty increased from 1.25
to 1.68.
Few of the liquid counters where we have seen high cost
of carry are IDEA, FEDERALBNK, ADANIENT,
TORNTPOWER AND L&TFH .
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BAJAJFINSV 1206000 16.07 5623.90 -0.59
RBLBANK 14996800 5.58 174.75 -0.62
ESCORTS 2780800 5.47 1187.60 -1.57
ADANIENT 16936000 5.45 328.95 3.31
ASIANPAINT 2853000 3.72 2225.45 2.67
HINDPETRO 33763500 2.07 179.60 4.38
CANBK 12540000 1.87 85.70 -1.11
RAMCOCEM 1379550 1.76 788.70 2.25
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
COFORGE 335250 -51.70 2200.75 -1.80
PETRONET 6267000 -44.98 230.45 0.72
IDEA 233100000 -35.04 8.35 -4.55
NMDC 27684400 -26.98 80.80 -0.43
TCS 6089400 -25.82 2632.65 0.15
CUMMINSIND 1436400 -25.28 441.65 -0.01
ACC 1493000 -24.33 1651.95 1.14
LUPIN 6320600 -23.42 924.75 -1.91
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.65 1.03
BANKNIFTY 0.92 0.77
RELIANCE 0.58 0.47
ICICIBANK 0.57 0.49
INFY 0.70 0.63
Historical Volatility
SCRIP HV
LT 43.13
PIDILITIND 40.31
BERGEPAINT 42.23
PEL 70.48
ASIANPAINT 39.64
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Technical & Derivatives Report
October
30, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (November Series) are given as an information and not as a recommendation.
Nifty Spot =
11670.80
FII Statistics for October 29, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
7324.35
8983.53
(1659.18) 112188
8962.20
(30.74)
INDEX
OPTIONS
512602.86
506642.86
5960.00
524678
43498.15
(50.21)
STOCK
FUTURES
22229.27
20761.02
1468.25
1067765
75615.35
(2.84)
STOCK
OPTIONS
3028.68
2748.16
280.52
25119
1761.58
(69.19)
Total 545185.16
539135.57
6049.59
1729750
129837.28
(27.82)
Turnover on October 29, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
7,13,416 51386.16 5.81
Index
Options
7,46,87,056
51,92,993.39
99.56
Stock Futures
13,59,590 97365.93 -20.81
Stock
Options
11,33,980 86927.10 -31.90
Total 7,78,94,042
54,28,672.58
88.97
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 11700 284.20
50.45 49.55 11750.45
Sell 11800 233.75
Buy 11700 284.20
95.10 104.90 11795.10
Sell 11900 189.10
Buy 11800 233.75
44.65 55.35 11844.65
Sell 11900 189.10
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 11700 313.20
43.60 56.40 11656.40
Sell 11600 269.60
Buy 11700 313.20
86.15 113.85 11613.85
Sell 11500 227.05
Buy 11600 269.60
42.55 57.45 11557.45
Sell 11500 227.05
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000 12100 12200 12300
Call Put
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Technical & Derivatives Report
October
30, 2020
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
335
339
345
348
354
ASIANPAINT 2,134 2,180
2,207
2,252
2,279
AXISBANK
473
483
500
510
527
BAJAJ-AUTO 2,866 2,896
2,915
2,945
2,964
BAJFINANCE 3,284 3,332
3,382
3,430
3,480
BAJAJFINSV 5,559 5,591
5,640
5,672
5,721
BPCL
333
338
343
347
352
BHARTIARTL
439
445
451
457
463
BRITANNIA 3,471 3,502
3,529
3,560
3,587
CIPLA
747
755
765
772
782
COALINDIA
109
110
111
112
113
DIVISLAB 3,052 3,080
3,120
3,148
3,188
DRREDDY 4,814 4,878
4,959
5,023
5,104
EICHERMOT 2,082 2,110
2,127
2,155
2,172
GAIL
81
82
83
84
85
GRASIM
760
765
771
776
783
HCLTECH
810
825
834
849
857
HDFCBANK 1,164 1,176
1,190
1,202
1,216
HDFCLIFE
577
582
585
589
592
HDFC 1,901 1,918
1,944
1,960
1,987
HEROMOTOCO 2,836 2,865
2,914
2,943
2,991
HINDALCO
163
165
168
171
173
HINDUNILVR 2,089 2,105
2,133
2,149
2,177
ICICIBANK
384
392
397
405
411
IOC
75
77
78
79
81
INDUSINDBK
558
573
587
602
615
INFY 1,050 1,063
1,072
1,085
1,094
ITC
162
163
164
165
167
JSW STEEL
296
301
305
310
314
KOTAKBANK 1,498 1,534
1,562
1,598
1,625
LT
907
921
940
954
973
M&M
582
587
595
601
609
MARUTI 6,889 7,003
7,101
7,216
7,313
NESTLEIND 16,429
16,650
16,933
17,154
17,437
NTPC
85
86
87
88
90
ONGC
63
64
65
66
67
POWERGRID
169
170
172
173
175
RELIANCE 1,969 1,998
2,020
2,049
2,071
SBILIFE
746
754
763
771
781
SHREECEM 20,832
21,255
21,527
21,950
22,222
SBIN
184
186
188
191
193
SUNPHARMA
446
451
458
463
469
TCS 2,575 2,604
2,629
2,658
2,684
TATAMOTORS
129
130
132
133
135
TATASTEEL
391
396
401
406
410
TECHM
771
788
799
815
826
TITAN 1,133 1,156
1,178
1,201
1,224
ULTRACEMCO 4,369 4,473
4,544
4,648
4,719
UPL
439
444
450
456
461
WIPRO
327
332
336
341
345
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Technical & Derivatives Report
October
30, 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]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