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December 30, 2020
Technical & Derivatives Report
Nifty
Bank Out
-
(
31323)
Once again, Bank Nifty started with a gap up opening and with
positive momentum through the session ended with gains of
1.43% at 31323.
For the last few weeks, 31000 acted as a stiff resistance, and
yesterday after breaking this hurdle we witnessed outperformance
from the banking space. Going ahead the way some of the private
banks performed and are placed we sense the outperformance can
continue in the near term. In such a scenario, previous resistance
around 31000 is likely to act as support whereas on the flip side
31650 - 31800 will be the next immediate resistance. Traders are
advised to have a stock-specific long approach.
Key Levels
Support 1 – 31000 Resistance 1 – 31650
Support 2 – 30880 Resistance 2 – 31800
Exhibit 1: Nifty Daily Chart
Sensex (47613) / Nifty (13933)
For the second consecutive session of the week, our markets opened
with an upside gap to hit a new milestone of 13900. There was some
hint of profit booking witnessed in the first half; but market managed
to stabilise at intraday supports and then resumed upward bias in
the concluding hour to end with nearly half a percent gains.
It is quite impressive to see how our markets found their mojo back
after last Monday’s mayhem. Before anyone could realise, we not
only recouped all losses but surpassed previous high with an ease.
Now, 14000 is merely a formality and looks like we are going to end
this year around this magical figure. For the coming session, 13975
- 14050 are the levels to watch out for; whereas on the lower side,
supports are placed at 13900 - 13850.
Yesterday although broader market saw some profit booking; it was
good to see strong participation from the banking space. If this move
has to continue from here on, the banking index should continue its
upward march towards its record high. Traders are advised to
concentrate on individual stocks but needs to be very fussy, because
going ahead it would become very difficult to pick right trades.
Key Levels
Support 1 – 13900 Resistance 1 – 13975
Support 2 – 13850 Resistance2 – 14050
Exhibit 2: Nifty Bank Daily Chart
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Technical & Derivatives Report
December 30, 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
Nifty continued its momentum to register new records
and ended the session well above 13900. BankNifty
surpassed its hurdle of 31000 and outperformed the
benchmark.
FIIs were net buyers in the cash segment to the tune of
Rs. 2350 crore. In index future segment, they sold worth
Rs. 287 cr with no relevant change in open interest.
In last couple of sessions, Bank Nifty has seen fresh
long formation which is a positive sign. In options
segment, 14000 call continued to attract fresh open
interest and has highest positions outstanding for the
coming expiry. As the index is approaching this
historical mark, it would be crucial to see how call
writers behave in next couple of sessions. A move
above 14000 could lead to unwinding by writers and
add further momentum to the ongoing rally. On the
flipside, 13800 is the immediate support. Traders are
advised to keep a tab on the open interest data and
trade accordingly for the day.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 1.00%
Bank Nifty futures open interest has increased by 3.24%
as market closed at 13932.60 levels.
The Nifty December future closed with a premium 2.45
point against a premium of 17.35 point in last trading
session. The January series closed at a premium of 56.25
point.
The INDIA VIX increased from 20.43 to 20.79.
At the same time, the PCR-OI of Nifty decreased from
1.69 to 1.55.
Few of the liquid counters where we have seen high cost
of carry are GMRINFRA, CANBK, IDEA, PNB, AND SAIL.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MINDTREE 1688800 17.67 1621.70 0.75
IGL 7771500 15.94 511.10 4.33
BANKBARODA 65598700 14.45 62.35 -0.24
BIOCON 12284300 13.40 460.50 -1.01
RBLBANK 20683200 11.81 232.80 1.59
GAIL 30018100 11.76 123.75 0.89
UBL 1640800 8.72 1147.25 -0.96
IDEA 1029700000 6.73 10.30 -0.96
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LICHSGFIN 7402000 -15.56 363.40 -0.99
PNB 133614000 -14.04 33.20 3.25
SAIL 109250000 -10.03 64.50 0.62
ICICIGI 663000 -9.98 1510.30 0.41
GODREJPROP 1525550 -8.64 1405.05 -1.48
VOLTAS 2618000 -8.53 814.35 -0.28
RECLTD 15426000 -7.88 135.15 -0.48
COFORGE 400875 -7.61 2680.50 -0.40
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.55 1.13
BANKNIFTY 1.22 0.90
RELIANCE 0.52 0.57
ICICIBANK 0.84 0.47
INFY 0.83 0.42
Historical Volatility
SCRIP HV
IGL 46.11
EXIDEIND 40.19
MGL 47.00
INDUSINDBK 85.71
PNB 59.24
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Technical & Derivatives Report
December 30, 2020
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot =
13932.60
FII Statistics for December 29, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4954.21
5241.11
(286.90) 178290
17493.08
0.42
INDEX
OPTIONS
247962.12
247968.97
(6.85) 1015474
100390.34
12.84
STOCK
FUTURES
39369.02
40388.48
(1019.46) 1263791
101678.22
(0.35)
STOCK
OPTIONS
6201.16
6560.47
(359.31) 102850
8305.13
(1.18)
Total 298486.51
300159.03
(1672.52) 2560405
227866.77
4.52
Turnover on December 29, 2020
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 3,59,992 32248.69 30.85
Index
Options
2,38,91,476
21,07,308.12
53.27
Stock Futures 14,42,232
1,16,014.35
12.70
Stock
Options
16,20,864
1,36,347.10
-0.79
Total
2,73,14,564
23,91,918.26
45.86
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 13900 95.55
49.70 50.30 13949.70
Sell 14000 45.85
Buy 13900 95.55
78.65 121.35 13978.65
Sell 14100 16.90
Buy 14000 45.85
28.95 71.05 14028.95
Sell 14100 16.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 13900 59.10
29.15 70.85 13870.85
Sell 13800 29.95
Buy 13900 59.10
42.30 157.70 13857.70
Sell 13700 16.80
Buy 13800 29.95
13.15 86.85 13786.85
Sell 13700 16.80
Nifty Put-Call Analysis
,0
1000,000
2000,000
3000,000
4000,000
5000,000
6000,000
7000,000
13200 13300 13400 13500 13600 13700 13800 13900 14000 14100 14200 14300 14400 14500
Call Put
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December 30, 2020
Da
ily
Pivot
Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
472
478
484
489
495
ASIANPAINT 2,655 2,676
2,694
2,715
2,734
AXISBANK
613
622
627
636
641
BAJAJ-AUTO 3,397 3,414
3,437
3,454
3,477
BAJFINANCE 5,126 5,163
5,205
5,243
5,285
BAJAJFINSV 8,818 8,897
8,977
9,056
9,135
BPCL
374
378
382
386
390
BHARTIARTL
510
515
520
525
530
BRITANNIA 3,549 3,571
3,597
3,619
3,645
CIPLA
809
818
827
837
845
COALINDIA
131
133
136
138
141
DIVISLAB 3,728 3,756
3,793
3,821
3,858
DRREDDY 5,070 5,118
5,193
5,241
5,317
EICHERMOT 2,399 2,430
2,466
2,497
2,534
GAIL
121
122
123
125
126
GRASIM
896
903
913
919
929
HCLTECH
916
926
935
946
955
HDFCBANK 1,413 1,420
1,427
1,435
1,442
HDFCLIFE
660
667
677
683
693
HDFC 2,460 2,489
2,510
2,539
2,560
HEROMOTOCO 3,035 3,055
3,080
3,100
3,125
HINDALCO
230
233
237
240
245
HINDUNILVR 2,332 2,358
2,381
2,407
2,429
ICICIBANK
513
521
526
534
539
IOC
89
90
91
92
93
INDUSINDBK
857
885
901
929
946
INFY 1,227 1,239
1,247
1,258
1,266
ITC
208
210
212
213
215
JSW STEEL
372
377
383
388
395
KOTAKBANK 1,966 1,983
2,000
2,017
2,034
LT 1,255 1,270
1,283
1,297
1,310
M&M
696
702
709
715
722
MARUTI 7,345 7,399
7,472
7,525
7,599
NESTLEIND 17,855
18,059
18,379
18,583
18,904
NTPC
96
97
99
100
102
ONGC
91
92
93
95
96
POWERGRID
187
188
190
192
194
RELIANCE 1,965 1,978
1,995
2,007
2,025
SBILIFE
881
890
900
909
918
SHREECEM 23,582
23,711
23,809
23,938
24,036
SBIN
272
275
278
280
283
SUNPHARMA
577
584
590
597
603
TCS 2,902 2,916
2,934
2,948
2,966
TATAMOTORS
177
180
184
188
192
TATASTEEL
612
622
631
641
650
TECHM
935
950
959
975
984
TITAN 1,513 1,527
1,542
1,555
1,570
ULTRACEMCO 5,043 5,095
5,134
5,186
5,225
UPL
439
447
453
461
467
WIPRO
379
382
386
389
394
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Technical & Derivatives Report
December 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]g.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
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Sneha Seth Derivatives Analyst [email protected]angelbroking.com