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June 03, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
look
-
(
35374
)
Yesterday, the Bank Nifty index started on a mild negative note,
and then it remained in a range amidst stock-specific action. In
the penultimate hours however a strong upmove was seen to
eventually end at the highest point of the day with marginal
gains at 35374.
Technically not much has changed and it seems the key indices
have entered into a consolidation phase. As mentioned in our
previous outlook as well, the Bank Nifty has been inconsistent
recently but we remain upbeat and expect outperformance in
the near term. Yesterday, we witnessed a mixed bag of pictures
as some stocks seemed under pressure while some stocks
outperformed especially the PSU space. Going ahead, the
approach will remain to have stock-specific trades within this
basket as they are likely to give outperforming opportunities.
As far as levels are concerned, 35800 followed by 36200 is the
immediate resistance whereas support is placed around 35000
- 34600.
Key Levels
Support 1 – 35000 Resistance 1 – 35800
Support 2 – 34500 Resistance 2 – 36000
Exhibit 2: Nifty Bank Daily Chart
As far as support levels are concerned,
15430
–
15400
has now
become a sacrosanct zone; whereas on the flip side, 15660 –
15700 are the immediate levels to watch out for. From here on,
index specific trades are not going to be smooth and in fact, one
needs to be very selective when it comes to stock specific trades
as well. We reiterate on avoiding aggressive bets and it’s
advisable to follow a proper risk management.
Key Levels
Support 1 – 15430 Resistance 1 – 15660
Support 2 – 15400 Resistance 2 – 15700
Se
nsex
(
51849
)
/ Nifty
(
15576
)
Yesterday’s session started on a sluggish note owing to mixed
global cues. As the day progressed, the index extended its losses
a bit due to some profit booking in the few heavyweights.
However post the mid-session, the sudden buying emerged at
lower levels which pulled the index higher to conclude the session
with a negligible gain in Nifty.
The kind of corrective move we were witnessing in the first half
yesterday, by no means it should be considered a major fall or a
sign of caution. The market has seen a steady up move recently
and in the process has managed to clock fresh record highs, so
such in between breathers are very much evident. Rather it should
be considered a healthy sign. In our previous commentary, we had
mentioned a key support around 15430 – 15400 and if we look
at yesterday’s recovery, it has come precisely after nearing this
support zone. We continue to remain upbeat as long as we do not
witness a major trend reversal and until then one should use
intraday dips to go long in the market.
.
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Technical & Derivatives Report
June 03, 2021
Nifty Vs OI
13800
14000
14200
14400
14600
14800
15000
15200
15400
15600
15800
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
4/30 5/4 5/6 5/10 5/12 5/17 5/17 5/24 5/26 5/28 6/1
(`000)
Openinterest Nifty
View
The benchmark indices consolidated in a range in
yesterday's session, but it recovered from the lows and
ended the day on a flat note.
FIIs were net buyers in the cash segment to the tune of
Rs. 921 crores. In index futures front, they sold worth Rs.
1107 crores with decrease in open interest indicating
long unwinding in yesterday’s session.
The open interest in Nifty declined by 5% yesterday, but
still majority of long positions in both indices are intact.
FII's too continue with their longs in index futures and
their 'Long Short Ratio' is at 85 percent which is a good
sign. In options segment, put option of 15500 strike
attracted sellers and hence, we do not expect any
significant price wise correction on the expiry day. On the
higher side, maximum open interest is at 15700 call.
Options data indicate 15500-14550 as a support range
for expiry day and resistance around 15700. Traders
should look to buy at-the-money call on the expiry day
and trade with a positive bias.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 5.39%.
Bank Nifty futures open interest has decreased by 1.61%
as market closed at 15576.20 levels.
The Nifty June future closed with a premium of 40.55
point against a premium of 43.3 point in last trading
session. The July series closed at a premium of 93 point.
The INDIA VIX decreased from 17.39 to 17.21.
At the same time, the PCR-OI of Nifty decreased from
1.32 to 1.27.
Few of the liquid counters where we have seen high cost
of carry are IDEA, SUNTV, GMRINFRA, MOTHERSUMI
AND VEDL
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
AARTIIND 1020850 26.09 1669.65 -2.61
MUTHOOTFIN 3093000 23.10 1414.85 8.43
MOTHERSUMI 33495000 15.89 269.10 13.57
BHARATFORG 7863000 14.93 697.50 4.56
GUJGASLTD 1995000 13.92 566.50 5.02
MANAPPURAM 30024000 12.50 164.00 2.15
ITC 177792000 11.90 209.00 -3.85
PNB 329360000 11.87 44.00 5.73
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BANDHANBNK 18592200 -12.89 311.70 2.86
ASIANPAINT 4467300 -8.83 2903.75 -0.83
CHOLAFIN 9327500 -7.36 557.30 2.24
BPCL 37348200 -7.05 474.65 0.79
TITAN 4128750 -6.77 1585.70 -0.31
BEL 39356600 -6.43 150.35 2.34
IRCTC 1007825 -6.37 1917.85 0.92
JUBLFOOD 1227000 -5.92 3042.95 -0.54
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.27 0.91
BANKNIFTY 0.76 0.82
RELIANCE 0.54 0.36
ICICIBANK 0.60 0.50
INFY 0.58 0.53
Historical Volatility
SCRIP HV
MOTHERSUMI 66.67
MUTHOOTFIN 51.79
ADANIENT 64.88
GUJGASLTD 46.08
IDFCFIRSTB 59.71
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Technical & Derivatives Report
June 03, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Spot =
15576.20
FII Statistics for June 02, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2730.62
3837.85
(1107.23) 112549
12355.29
(7.91)
INDEX
OPTIONS
435858.84
436405.45
(546.61) 1017000
105329.96
2.08
STOCK
FUTURES
17264.80
17199.81
64.99
1374980
109035.00
(2.88)
STOCK
OPTIONS
13730.64
13739.34
(8.70) 193370
14856.04
14.48
Total 469584.90
471182.45
(1597.55) 2697899
241576.29
(0.20)
Turnover on June 02, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,12,410 21244.85 -17.39
Index Options
4,05,26,338 40,55,422.78 10.07
Stock Futures
8,78,882 71675.39 11.29
Stock Options
21,24,284 1,79,680.24 13.55
Total 4,37,41,914 43,28,023.26 10.05
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15600 225.75
54.05 45.95 15654.05
Sell 15700 171.70
Buy 15600 225.75
99.45 100.55 15699.45
Sell 15800 126.30
Buy 15700 171.70
45.40 54.60 15745.40
Sell 15800 126.30
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15600 210.85
37.70 62.30 15562.30
Sell 15500 173.15
Buy 15600 210.85
69.60 130.40 15530.40
Sell 15400 141.25
Buy 15500 173.15
31.90 68.10 15468.10
Sell 15400 141.25
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000
Call Put
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Technical & Derivatives Report
June 03, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
792
802
813
823
834
ASIANPAINT 2,848 2,876
2,905
2,933
2,961
AXISBANK
728
732
739
743
750
BAJAJ-AUTO 4,161 4,228
4,267
4,334
4,373
BAJFINANCE 5,696 5,752
5,799
5,855
5,901
BAJAJFINSV 11,637
11,730
11,795
11,889
11,954
BPCL
467
471
473
477
479
BHARTIARTL
524
527
531
533
537
BRITANNIA 3,429 3,452
3,469
3,492
3,509
CIPLA
940
947
954
961
968
COALINDIA
146
147
149
150
152
DIVISLAB 4,169 4,192
4,224
4,246
4,278
DRREDDY 5,245 5,279
5,316
5,350
5,387
EICHERMOT 2,614 2,646
2,670
2,702
2,726
GRASIM 1,412 1,427
1,441
1,456
1,470
HCLTECH
931
937
944
950
957
HDFCBANK 1,485 1,495
1,502
1,512
1,520
HDFCLIFE
657
667
672
682
687
HDFC 2,508 2,535
2,558
2,586
2,609
HEROMOTOCO 2,918 2,945
2,969
2,996
3,020
HINDALCO
383
391
397
405
411
HINDUNILVR 2,337 2,348
2,361
2,372
2,384
ICICIBANK
638
643
646
651
655
IOC
109
110
111
112
112
INDUSINDBK
994
1,011
1,021
1,038
1,047
INFY 1,352 1,365
1,379
1,392
1,405
ITC
206
208
210
211
214
JSW STEEL
691
699
704
711
716
KOTAKBANK 1,759 1,771
1,782
1,794
1,805
LT 1,447 1,459
1,467
1,479
1,486
M&M
797
802
807
811
817
MARUTI 7,014 7,100
7,149
7,234
7,283
NESTLEIND 17,356
17,505
17,659
17,808
17,962
NTPC
110
110
111
112
112
ONGC
114
116
118
119
121
POWERGRID
223
225
227
229
231
RELIANCE 2,137 2,169
2,189
2,222
2,242
SBILIFE
950
967
980
997
1,010
SHREECEM 27,364
27,629
27,818
28,084
28,273
SBIN
422
428
431
436
439
SUNPHARMA
667
672
675
680
683
TCS 3,090 3,110
3,135
3,154
3,179
TATACONSUM
655
664
669
679
684
TATAMOTORS
312
318
321
326
330
TATASTEEL 1,093 1,109
1,119
1,135
1,145
TECHM
981
999
1,012
1,030
1,043
TITAN 1,550 1,568
1,582
1,600
1,615
ULTRACEMCO 6,488 6,541
6,606
6,659
6,723
UPL
799
818
830
849
860
WIPRO
528
536
540
548
552
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Technical & Derivatives Report
June 03, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cso@angelbroking.com
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trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.chavan@angelbroking.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bhosle@angelbroking.com
Sneha Seth Derivatives Analyst sneha.seth@angelbroking.com
