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April 09, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
-
(
32783)
Post Wednesday’s outperformance, the BankNifty began
yesterday’s session on a positive note and gain some strength in
the initial half an hour of trade to surpass 33300 mark. However,
these gains were short lived as we saw decent selling pressure at
the higher levels which pulled index towards sub-33000 levels. In
the midst, one more attempt of pullback was seen which got sold
into in the final hour. Eventually, we concluded the weekly expiry
day tad below 32800 with the loss of 0.63%. In our previous couple
of articles, we have been mentioning that if Nifty has to gain further
strength BankNifty should also participate. Seeing Wednesday’s
outperformance from banking space, things looked quite
optimistic but we weren’t sure and hence opted to wait for follow-
up buying. Despite decent opening, the follow-up buying was
really missing yesterday and every attempt of recovery got failed.
Considering yesterday’s development, we are still uncertain about
the trend reversal in BankNifty and hence, would maintain our
cautious stance on same. Traders are advised to stay light
particularly in this space now and should rather focus on other
individual names that are really doing great. For the coming
session, 33300-33500 remains a study hurdle; whereas, 32300-
32000 are the immediate support zone.
Key Levels
Support 1 – 32300 Resistance 1 – 33300
Support 2 – 32000 Resistance 2 – 33500
Sensex (49746) / Nifty (14874)
We had a gap up opening yesterday owing to favourable cues from
the global peers. Since we kick-started the session beyond the recent
hurdle of 14900, the lead extended in the following hours. Things
were looking extremely rosy for the major part of the session and lot
of individual themes did extremely well. But all of a sudden at the
stroke of the penultimate hour, the Nifty nosedived towards 14800
before anyone could realise. Fortunately, the fall restricted around
the psychological mark and we had a modest recovery in last few
minutes of trade to regain the positive terrain at the close.
Since last twelve trading sessions, we were unable to go beyond the
sturdy wall of 14900. Yesterday, at the opening we managed to
conquer it and for the major part of the day, we maintained a good
positive posture to extend gains at the mid-session. However, we
were a bit sceptical of this up move during the day and did not get
carried away by this. This strategy played out well as we witnessed a
sudden correction in the last hour to refuse the daily close above
14900. For the coming session. 14900 – 15000 remains to be a key
resistance zone and till the time we do not confirm a convincing
close above it, we would avoid aggressive bets on the long side,
especially in sensitive names. On the downside, 14800 followed by
14750 would be seen as immediate supports.
Exhibit 2: Nifty Bank Daily Chart
Traders are advised to keep a close tab on above mentioned levels
and should continue with a stock centric approach; because still
there are bunch of interesting themes that are doing exceedingly
well in the market.
Key Levels
Support 1 – 14800 Resistance 1 – 14950
Support 2 – 14750 Resistance2 – 15000
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April 09, 2021
Nifty Vs OI
13800
14000
14200
14400
14600
14800
15000
15200
15400
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
3/10 3/16 3/18 3/22 3/24 3/26 3/31 4/5 4/7
(`000)
Openinterest Nifty
View
Nifty traded with a positive bias for most part of the
weekly expiry session. However, the index gave up
much of the intraday gains in the last hour and ended
the day below 14900 mark
.
FIIs were net buyers in the cash segment to the tune
of Rs. 111 crores. In index futures front, they bought
worth Rs. 262 crores with decrease in open interest
indicating short covering in yesterday’s session.
In both Nifty as well as Bank Nifty, we witnessed
unwinding of positions as the open interest declined
in both indices. FII's covered some more short
positions and their 'Long Short Ratio' in the index
futures is now tad above 60 percent. The coming
weekly series indicates resistance around the 15000
mark. Further build up of positions in options segment
will give more clarity for trading range of next few
sessions. Hence, traders are advised to trade with a
stock specific approach
.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 2.19%.
Bank Nifty futures open interest has decreased by 8.18%
as market closed at 14873.80 levels.
The Nifty April future closed with a premium of point 50.6
against a premium of 68.95 point in last trading session.
The May series closed at a premium of 102 point.
The INDIA VIX increased from 20.24 to 20.31.
At the same time, the PCR-OI of Nifty decreased from
1.29 to 1.20.
Few of the liquid counters where we have seen high cost
of carry are IDEA, ULTRACEMCO, RAMCOCEM,
GRANULES AND IRCTC.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
NAM-INDIA 1499200 48.73 358.05 5.32
AMARAJABAT 4422000 35.81 816.15 -2.55
HDFCAMC 619800 15.42 3005.40 3.53
APLLTD 930600 13.03 973.00 -0.41
MPHASIS 768300 10.99 1760.20 1.59
SHREECEM 154800 10.14 31585.00 4.29
AMBUJACEM 17511000 9.08 320.80 3.95
IBULHSGFIN 35470200 9.06 191.25 -2.33
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
SRTRANSFIN 3043200 -13.33 1494.20 0.18
PIIND 391000 -12.28 2520.60 3.62
ESCORTS 2107600 -9.45 1270.75 2.48
SAIL 134539000 -6.85 95.60 5.92
AARTIIND 553775 -6.12 1421.40 0.82
PIDILITIND 1882000 -5.88 1905.60 0.78
CUB 8118900 -5.76 166.10 0.60
IDEA 678230000 -5.53 9.40 -3.55
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.20 1.03
BANKNIFTY 0.73 0.93
RELIANCE 0.54 0.52
ICICIBANK 0.50 0.40
INFY 0.51 0.38
Historical Volatility
SCRIP HV
JSWSTEEL 53.81
SHREECEM 42.57
LALPATHLAB 49.26
ACC 38.28
JINDALSTEL 72.50
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Technical & Derivatives Report
April 09, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (April Series) are given as an information and not as a recommendation.
Nifty Spot =
14873.80
FII Statistics for April 08, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4850.18
4588.04
262.14
102643
10906.45
(1.40)
INDEX
OPTIONS
978584.32
973450.25
5134.07
659924
69726.00
(30.41)
STOCK
FUTURES
12113.05
12168.56
(55.51) 1070113
94193.84
(0.25)
STOCK
OPTIONS
10885.37
11006.65
(121.28) 150976
13748.49
5.33
Total 1006432.92
1001213.50
5219.42
1983656
188574.78
(12.56)
Turnover on April 08, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,33,668 31775.43 -11.77
Index Options
8,93,76,673 82,48,046.48 99.22
Stock Futures
6,50,022 68382.53 2.22
Stock Options
14,03,244 1,56,101.04 8.99
Total 9,17,63,607 85,04,305.48 93.88
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14900 288.15
54.20 45.80 14954.20
Sell 15000 233.95
Buy 14900 288.15
103.70 96.30 15003.70
Sell 15100 184.45
Buy 15000 233.95
49.50 50.50 15049.50
Sell 15100 184.45
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14900 264.80
38.20 61.80 14861.80
Sell 14800 226.60
Buy 14900 264.80
73.65 126.35 14826.35
Sell 14700 191.15
Buy 14800 226.60
35.45 64.55 14764.55
Sell 14700 191.15
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
14000 14100 14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300
Call Put
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Technical & Derivatives Report
April 09, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
790
807
822
839
854
ASIANPAINT 2,615 2,633
2,646
2,663
2,676
AXISBANK
669
675
685
692
702
BAJAJ-AUTO 3,611 3,630
3,665
3,684
3,719
BAJFINANCE 4,953 4,991
5,053
5,091
5,153
BAJAJFINSV 9,495 9,575
9,655
9,735
9,815
BPCL
425
428
432
435
439
BHARTIARTL
536
539
544
548
552
BRITANNIA 3,731 3,774
3,804
3,847
3,877
CIPLA
832
837
844
849
856
COALINDIA
130
131
132
133
135
DIVISLAB 3,614 3,664
3,732
3,783
3,851
DRREDDY 4,607 4,648
4,702
4,743
4,797
EICHERMOT 2,518 2,536
2,565
2,583
2,612
GRASIM 1,418 1,433
1,448
1,463
1,478
HCLTECH 1,018 1,028
1,041
1,051
1,064
HDFCBANK 1,411 1,422
1,441
1,452
1,472
HDFCLIFE
693
697
702
706
710
HDFC 2,461 2,482
2,506
2,527
2,552
HEROMOTOCO 2,867 2,897
2,944
2,974
3,021
HINDALCO
345
355
365
375
384
HINDUNILVR 2,371 2,391
2,415
2,434
2,458
ICICIBANK
566
571
579
584
591
IOC
92
92
93
94
94
INDUSINDBK
916
925
942
951
968
INFY 1,407 1,423
1,438
1,454
1,468
ITC
211
212
214
215
217
JSW STEEL
530
572
605
648
681
KOTAKBANK 1,750 1,767
1,795
1,812
1,840
LT 1,397 1,408
1,421
1,433
1,446
M&M
782
788
800
806
818
MARUTI 6,725 6,776
6,858
6,908
6,990
NESTLEIND 17,160
17,425
17,592
17,857
18,024
NTPC
104
104
105
106
107
ONGC
102
103
104
105
107
POWERGRID
205
207
210
212
215
RELIANCE 1,978 1,992
2,007
2,021
2,036
SBILIFE
895
902
912
918
928
SHREECEM 29,509
30,546
31,297
32,334
33,085
SBIN
349
352
358
361
367
SUNPHARMA
605
610
618
622
631
TCS 3,237 3,277
3,306
3,346
3,375
TATACONSUM
661
666
672
676
682
TATAMOTORS
301
308
314
320
326
TATASTEEL
847
883
918
954
989
TECHM
983
1,006
1,028
1,051
1,073
TITAN 1,505 1,538
1,559
1,592
1,612
ULTRACEMCO 6,667 6,819
6,936
7,088
7,205
UPL
641
646
655
661
670
WIPRO
437
439
443
445
449
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Technical & Derivatives Report
April 09, 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]om
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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