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June 07, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
look
-
(
35292)
On Friday, we started-off the session almost flat and in line to last
couple of sessions the momentum was missing. In the initial hour of
trade, index inched towards 35800 but failed to sustain at higher levels
and soon we witnessed some fresh selling pressure post RBI governor
announced to keep the rates unchanged for sixth policy meet. As the
day progressed, the banking index slide below 35200 mark and finally
concluded the day with the cut of a percent.
It’s the second week of underperformance by the BankNifty, especially
the Friday’s fall ruined the overall gains and hence index concluded the
week with the marginal gains of 0.43%. Really speaking, the week was
full of boredom except for Friday’s move and there isn’t any major
change in the overall chart structure to be talked about. As far as levels
are concerned, around 35000 mark is the immediate demand zone;
whereas, on the higher side 35800-36000 shall be looked as resistance
area. The overall action still remains outside this basket; hence, would
advise traders’ focusing on same for the time being.
.
Key Levels
Support 1 – 35000 Resistance 1 – 35800
Support 2 – 34750 Resistance 2 – 36000
Exhibit 2: Nifty Bank Daily Chart
We reiterate when market moves in such typical manner, it’s better not
to get complacent and one should take one step at a time. Also, it would
be a prudent strategy to avoid aggressive leveraged bets (especially
overnight) because any in between hiccup may spoil your short term
trading journey.
Key Levels
Support 1 – 15600 Resistance 1 – 15800
Support 2 – 15525 Resistance 2 – 15870
Se
nsex
(
52100)
/ Nifty
(
15670
)
During last week, Market started flat on Monday and in fact, in the initial
trade, there was some mild negativity seen in the market. But similar to
the recent trend, market absorbed the pressure and then resumed its
upward momentum, once again led by the giant RELIANCE. As the day
progressed, the buying momentum continued to first reach the new
milestone of 15500 and in the final hour 15600 became the reality as
well. Eventually, the Nifty ended the session with nearly a percent gains.
After a brief pause on the subsequent day, the Nifty continued its
northward march to hit fresh record highs beyond 15700 during the
latter half of the week to conclude with one and half a percent gains.
The kind of price action we have been witnessing since few days, the
commentary would sound a bit repetitive because there is nothing
different to talk about. As we have been mentioning, every 100 points
upside level should be treated as an immediate resistance and now this
level comes at 15800. Ideally considering the Fibonacci ratios, we do not
see any major hurdle before 16000 and hence, even if this has to be met
in the near term, the move would continue to be slow and steady in
nature. One of the favourable factors is the significant drop in INDIA VIX
which is back to the pre-COVID levels; bodes well for the bulls. On the
flipside, 15600 – 15525 – 15450 are to be seen as key support levels.
Only a handful of index heavyweights are giving some notable moves,
otherwise the real action still continues in the broader end of the
spectrum. Stocks from the cash segment are literally roaring and thus it’s
advisable to stick to this approach.
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Nifty Vs OI
14900
15000
15100
15200
15300
15400
15500
15600
15700
15800
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
5/24 5/26 5/28 6/1 6/3
(`000)
Openinterest Nifty
View
Nifty stated the week on a positive note and surpassed
15600 mark. Post some consolidation for a couple of
sessions, the index resumed the momentum on the
upside and managed to end the week tad below 15700,
with weekly gains of one and a half percent.
FIIs were net buyers in the cash segment to the tune of
Rs. 1499 crores. In index futures front, they sold worth Rs.
614 crores with increase in open interest indicating long
unwinding and short formations on Friday.
During the week, both Nifty as well as Bank Nifty
witnessed some long formations. FII’s continue with their
bullish positions in the index futures and their ‘Long
Short Ratio’ currently stands at 82 percent. The options
data hints at a support in the range of 15500- 15400
while 15800 followed by 16000 would be the levels to
watch on the upside in the coming week. Hence, traders
are advised to continue to trade with a positive bias and
look for buying opportunities on declines.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 0.58%.
Bank Nifty futures open interest has increased by 7.79%
as market closed at 15670.25 levels.
The Nifty June future closed with a premium of 30.6 point
against a premium of 22.05 point in last trading session.
The July series closed at a premium of 84.4 point.
The INDIA VIX increased from 15.74 to 15.94.
At the same time, the PCR-OI of Nifty decreased from
1.35 to 1.30.
Few of the liquid counters where we have seen high cost
of carry are IDEA, AUBANK, LTTS, ASHOKLEY, AND
IBULHSGFIN.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IBULHSGFIN 39339000 42.07 261.35 14.33
LTTS 464400 24.84 2720.85 0.94
BHARATFORG 10201500 23.36 750.90 7.89
UBL 1477700 22.73 1337.15 5.83
RBLBANK 28417100 20.65 214.75 -1.85
LICHSGFIN 9064000 19.39 530.20 6.22
IGL 7781125 16.63 524.20 -0.42
ICICIGI 1252050 14.54 1447.55 -1.73
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MARICO 5692000 -14.02 486.90 -1.58
LTI 558900 -8.43 3856.60 0.37
DABUR 9801250 -7.51 544.05 0.53
TITAN 4261875 -7.46 1679.40 -0.62
COFORGE 917350 -7.04 3694.10 1.32
PNB 324080000 -6.92 43.10 -1.48
BAJAJ-AUTO 1590750 -5.11 4250.05 -0.52
BALKRISIND 1161200 -5.10 2213.20 -0.12
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.30 0.92
BANKNIFTY 0.69 0.87
RELIANCE 0.49 0.41
ICICIBANK 0.54 0.45
INFY 0.55 0.41
Historical Volatility
SCRIP HV
IBULHSGFIN 90.90
BHARATFORG 54.57
UBL 39.48
ADANIENT 65.35
LICHSGFIN 55.33
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Technical & Derivatives Report
June 07, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Spot =
15670.25
FII Statistics for June 04, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2773.37
3386.97
(613.60) 121203
13359.59
2.94
INDEX
OPTIONS
289445.48
286653.70
2791.78
897873
93648.29
34.47
STOCK
FUTURES
14296.72
14913.17
(616.45) 1373081
109635.54
(0.36)
STOCK
OPTIONS
15831.62
16092.30
(260.68) 246420
18907.93
11.37
Total 322347.19
321046.14
1301.05
2638577
235551.35
10.64
Turnover on June 04, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,43,269 23834.20 12.35
Index Options
2,39,34,467 23,81,322.25 -69.44
Stock Futures
8,28,266 69976.72 1.15
Stock Options
23,19,057 2,02,699.69 5.61
Total 2,73,25,059 26,77,832.86 -66.84
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15700 175.50
46.15 53.85 15746.15
Sell 15800 129.35
Buy 15700 175.50
84.15 115.85 15784.15
Sell 15900 91.35
Buy 15800 129.35
38.00 62.00 15838.00
Sell 15900 91.35
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15700 192.75
41.05 58.95 15658.95
Sell 15600 151.70
Buy 15700 192.75
73.40 126.60 15626.60
Sell 15500 119.35
Buy 15600 151.70
32.35 67.65 15567.65
Sell 15500 119.35
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
14700 14800 14900 15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000
Call Put
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Technical & Derivatives Report
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Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
814
824
833
843
852
ASIANPAINT 2,859 2,892
2,941
2,974
3,023
AXISBANK
728
735
747
755
767
BAJAJ-AUTO 4,206 4,228
4,262
4,284
4,317
BAJFINANCE 5,858 5,926
5,968
6,036
6,078
BAJAJFINSV 11,639
11,897
12,044
12,302
12,449
BPCL
470
474
478
483
487
BHARTIARTL
529
531
533
535
538
BRITANNIA 3,462 3,476
3,494
3,508
3,526
CIPLA
930
938
945
953
960
COALINDIA
146
149
152
156
158
DIVISLAB 4,192 4,227
4,252
4,287
4,313
DRREDDY 5,214 5,235
5,262
5,283
5,310
EICHERMOT 2,697 2,721
2,748
2,772
2,799
GRASIM 1,433 1,468
1,488
1,523
1,542
HCLTECH
929
933
939
942
948
HDFCBANK 1,485 1,493
1,507
1,515
1,528
HDFCLIFE
671
676
682
687
694
HDFC 2,568 2,593
2,610
2,635
2,652
HEROMOTOCO 2,986 3,017
3,036
3,067
3,086
HINDALCO
388
392
396
399
403
HINDUNILVR 2,313 2,327
2,349
2,363
2,385
ICICIBANK
630
636
646
652
661
IOC
111
113
114
116
117
INDUSINDBK
993
1,001
1,012
1,020
1,032
INFY 1,367 1,377
1,387
1,396
1,406
ITC
207
208
209
210
211
JSW STEEL
694
708
717
730
740
KOTAKBANK 1,786 1,798
1,810
1,822
1,834
LT 1,504 1,521
1,534
1,551
1,564
M&M
796
800
807
811
818
MARUTI 7,092 7,153
7,213
7,274
7,334
NESTLEIND 17,178
17,302
17,504
17,629
17,831
NTPC
110
111
112
113
114
ONGC
122
124
125
127
129
POWERGRID
223
225
226
228
230
RELIANCE 2,165 2,178
2,197
2,210
2,229
SBILIFE
978
984
989
995
1,000
SHREECEM 27,885
28,020
28,224
28,358
28,563
SBIN
426
430
436
440
446
SUNPHARMA
669
671
675
678
682
TCS 3,110 3,127
3,142
3,159
3,174
TATACONSUM
669
678
684
693
699
TATAMOTORS
319
327
332
340
345
TATASTEEL 1,097 1,109
1,119
1,131
1,141
TECHM 1,003 1,011
1,019
1,027
1,035
TITAN 1,638 1,659
1,686
1,707
1,735
ULTRACEMCO 6,586 6,625
6,655
6,694
6,724
UPL
825
830
838
844
851
WIPRO
537
539
542
544
547
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June 07, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
For Technical Queries E-mail: technicalresearch-cso@angelbroking.com
For Derivatives Queries E-mail: derivat[email protected]
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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