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Technical & Derivatives Report

September 04, 2020

Nifty

Bank Out

look

(

23531

)

After a flat start, the bank index witnessed a gradually decline

throughout the session to end with loss of 1.44% at 23531.

Technically, not much has changed as the bank index continues to

consolidate around the lower end of Monday's bearish candle. For

the last four sessions, prices have managed to hold the levels

around 23400 and this has now become a sacrosanct point. On

the last session of the week, if prices break below 23400 and

sustains then we may see further weakness towards 23000 and

lower. On the flip side, 24000 and 24200 levels are acting as sturdy

wall. Traders are advised to keep a tab on the above levels and

have a stock specific approach.

Key Levels

Support 1 – 23400 Resistance 1 – 24000

Support 2 – 23000 Resistance 2 – 24200

Exhibit 1: Nifty Daily Chart

nsex

(

38991)

/ Nifty

(

11527

)

Yesterday, our markets opened on a flat to positive note despite US

markets registering handsome gains overnight. The benchmark

index then slipped into a consolidation mode and just remained

unmoved throughout the remaining part of the day. In between,

small swings on both sides were witnessed, but they were not at all

impactful as the overall intraday range for the day shrunk to merely

50-60 points.

Clearly, markets have become watchful after a solid knock on

Monday. Practically speaking, lot of uncertainties like, India-China

tension at the border, Supreme Court’s verdict with respect to

Interest waiver during the moratorium period and the introduction

of stringent margin systems are looming over. Till the time, market

do not get clarity on this front, the range bound movement is quite

evident. Technically speaking, a sharp sell off followed by such

uninterested trading sessions, generally does not bode well for the

bulls. Hence, next couple of sessions would be crucial for markets to

understand the next path of action. As far as levels are concerned,

11600-11650 remains to be a stiff hurdle; whereas on the lower

side, 11500-11400-11325 would be seen as cluster of supports. Let

see how things pan out and which way market decides to move.

.Key Levels

Support 1 – 11450 Resistance 1 – 11600

Support 2 – 11400 Resistance 2 – 11650

Exhibit 2: Nifty Bank Daily Chart

Sectorally, banking space was the major culprit yesterday as it

started sulking right from the word go. On the other hand, IT

provided the helping hand yesterday and did not allow bears to

dominate. So it was clearly a day of some tug of war between the

market participants. Apart from this, midcap stocks had a great

session and it provided very good opportunities yesterday. Going

ahead, one can look to follow such stock specific moves but do not

hold positions for higher returns, rather look to book timely profits.

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Nifty Vs OI

11100

11200

11300

11400

11500

11600

11700

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

8/20 8/21 8/24 8/25 8/26 8/27 8/28 8/31 9/1 9/2 9/3

(`000)

Openinterest Nifty

View



On the weekly expiry day, Nifty started on a flat note

and traded within a slender range throughout the

session to eventually end with maringal loss 11527.50.



FIIs were net buyers in the cash market segment to the

tune of Rs. 8 crores. In index futures, they sold worth

772 crores with decrease in open interest indicating

long unwinding in yesterday’s session



Nifty traded within a range on the weekly expiry day and

ended marginaly negative. However, the banking index

remained under pressure and underperformed due to

formation of short positions. FII's net activity was muted

in the cash segment while they unwound some of their

longs in index futures. The options segment indicate

resistance around 11600 while support is placed

around 11400. Being the start of new weekly series,

traders are advised to watch for developments in the

first hour of the session and trade accordingly.

mme



The Nifty futures open interest has increased by 1.77%

Bank Nifty futures open interest has increased by 6.58%

as market closed at 11527.45 levels.



The Nifty September future closed with a premium of

15.35 point against a premium of 26.5 point in last trading

session. The October series closed at a premium of 30.8

point.



The INDIA VIX has decreased from 21.10 to 20.50.

At the same time, the PCR-OI of Nifty decreased from

1.36 to 1.33.



Few of the liquid counters where we have seen high cost

of carry are IDEA, BHEL, COALINDIA, GMRINFRA, AND

MINDTREE.

OI Gainers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

PAGEIND 168420 35.18 19162.70 -2.98

IDEA 502040000 34.91 12.55 27.14

MINDTREE 1824000 30.96 1205.85 1.30

BATAINDIA 2044350 17.29 1374.40 3.12

TATACONSUM 12096000 14.58 578.50 5.13

POWERGRID 10840000 13.91 178.50 -1.35

BHEL 68754000 11.82 40.00 2.41

MUTHOOTFIN 3258750 11.50 1135.40 -1.17

OI Losers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

ESCORTS 2960100 -16.06 1224.60 0.02

APOLLOTYRE 12935000 -6.57 123.70 0.57

INFRATEL 14201600 -5.30 218.50 11.37

TORNTPHARM 1389000 -5.09 2797.45 1.27

MGL 2059800 -4.53 926.25 1.36

PNB 59388000 -3.85 34.50 -1.28

MCDOWELL-N 15130000 -3.60 580.20 1.59

EICHERMOT 2391550 -3.54 2231.05 2.52

Put-Call Ratio

SCRIP PCR-OI PCR-VOL

NIFTY 1.33 1.03

BANKNIFTY 0.70 0.87

RELIANCE 0.59 0.44

ICICIBANK 0.47 0.52

INFY 0.52 0.32

Historical Volatility

SCRIP HV

IDEA 143.16

INFRATEL 74.04

UBL 45.10

GRASIM 53.44

TITAN 50.13

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Technical & Derivatives Report

September 04, 2020

Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.

Nifty Spot =

11527.45

FII Statistics for September 03, 2020

Detail Buy

Sell Net

Open Interest

Contracts

Value

(in Cr.)

Change

(%)

INDEX

FUTURES

3634.25

4405.78

(771.53) 126061

10300.36

(3.91)

INDEX

OPTIONS

364913.04

362338.38

2574.66

627080

50411.57

(18.51)

STOCK

FUTURES

12442.65

13618.45

(1175.80) 1219414

88023.48

0.42

STOCK

OPTIONS

4133.30

4186.10

(52.80) 79128

5648.93

5.95

Total 385123.24

384548.71

574.53

2051683

154384.34

(6.30)

Turnover on September 03, 2020

Instrument

No. of

Contracts

Turnover

( in Cr. )

Change

(%)

Index Futures 3,52,280 24354.94 -17.10

Index Options

5,05,93,196

34,33,620.61

85.51

Stock Futures 6,94,162 53523.54 -5.02

Stock Options

9,11,486 74772.06 0.06

Total 5,25,51,124

35,86,271.15

78.30

Bull-Call Spreads

Action Strike Price Risk Reward BEP

Buy 11500 227.70

55.20 44.80 11555.20

Sell 11600 172.50

Buy 11500 227.70

100.95 99.05 11600.95

Sell 11700 126.75

Buy 11600 172.50

45.75 54.25 11645.75

Sell 11700 126.75

Bear-Put Spreads

Action Strike Price Risk Reward BEP

Buy 11500 185.15

36.10 63.90 11463.90

Sell 11400 149.05

Buy 11500 185.15

65.80 134.20 11434.20

Sell 11300 119.35

Buy 11400 149.05

29.70 70.30 11370.30

Sell 11300 119.35

Nifty Put-Call Analysis

500,000

1000,000

1500,000

2000,000

2500,000

3000,000

10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000

Call Put

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Daily Pivot Levels for Nifty Constituents

Scrips

PIVOT

ADANIPORTS

356

361

365

369

373

ASIANPAINT 1,927 1,953

1,970

1,996

2,013

AXISBANK

462

469

479

486

496

BAJAJ-AUTO 2,864 2,880

2,902

2,918

2,940

BAJFINANCE 3,562 3,591

3,634

3,663

3,706

BAJAJFINSV 6,215 6,285

6,370

6,440

6,525

BPCL

406

410

414

418

422

BHARTIARTL

525

531

542

549

559

INFRATEL

188

203

212

228

237

BRITANNIA 3,696 3,722

3,765

3,790

3,834

CIPLA

729

734

740

745

751

COALINDIA

132

134

136

138

140

DRREDDY 4,287 4,360

4,413

4,486

4,539

EICHERMOT 2,120 2,176

2,218

2,273

2,315

GAIL

100

GRASIM

664

694

712

742

760

HCLTECH

688

697

707

716

726

HDFCBANK 1,117 1,124

1,135

1,142

1,153

HDFC

574

578

583

588

593

HEROMOTOCO

1,779

1,794

1,818

1,833

1,858

HINDALCO 2,884 2,913

2,960

2,988

3,035

HINDUNILVR

189

190

193

195

198

ICICIBANK 2,114 2,127

2,141

2,153

2,167

IOC

374

378

385

390

397

INDUSINDBK

INFY

612

622

635

645

658

ITC

911

923

936

949

962

JSW STEEL

188

190

192

193

195

KOTAKBANK

288

291

293

296

298

LT 1,361 1,379

1,408

1,426

1,455

M&M

944

953

962

970

980

MARUTI

620

632

644

656

668

NESTLEIND 6,841 6,957

7,037

7,153

7,233

NTPC 15,733

16,063

16,252

16,582

16,770

ONGC

101

POWERGRID

RELIANCE

175

177

179

181

183

SHREECEM 2,082 2,097

2,118

2,133

2,154

SBIN 19,911

20,170

20,510

20,768

21,108

SUNPHARMA

209

211

215

217

221

TCS

507

515

521

529

535

TATAMOTORS 2,241 2,270

2,297

2,326

2,353

TATASTEEL

147

149

152

155

158

TECHM

431

435

439

443

447

TITAN

723

741

752

770

780

ULTRACEMCO 1,096 1,141

1,166

1,211

1,236

UPL 3,901 3,925

3,953

3,976

4,004

VEDANTA

495

508

518

531

540

WIPRO

268

276

282

289

295

ZEEL

210

215

220

225

231

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Technical & Derivatives Report

September 04, 2020

Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com

For Technical & Derivatives Queries E-mail: technicalresearch-cso@angelbroking.com

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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