www.angelbroking.com
June 10, 2021
Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty
Bank Out
look
-
(
34800)
The banking index opened flat yesterday and after some initial
indecisive swings, started moving northwards. In the first hour itself,
the sharp uptick in the banking space pushed it higher towards
35400, nearly 500 points higher from the initial low. It was well
poised for a pleasant day yesterday but all of a sudden post the mid-
session, the market took a nosedive and banking being the high beta
space, was off nearly 700 points from day high before any could
realise it. Since there was no major recovery seen in the remaining
part of the day, the BANKNIFTY ended with eight tenths of a percent
loss.
The financial space has been the weakest link of late and if we talk
about levels, 35500 – 36000 has been acting as a sturdy wall. It made
several attempts to go beyond it but every time it reaches closer to it,
some sort supply tends to come. Finally, this failure resulted in a
sharp decline as we saw BANKNIFTY closing below 35000 after 10
trading sessions. With yesterday’s move, it has challenged it’s ’20-day
EMA’ level of 34600 and if it sustains below it in the forthcoming
session, we may see this profit booking move extending towards
34200 – 34000. On the flipside, 35000 – 35200 are to be seen as
immediate resistances. Traders are advised to stay light and should
avoid aggressive longs till the time we do not surpass 36000
convincingly.
Key Levels
Support 1 – 34600 Resistance 1 – 35000
Support 2 – 34200 Resistance 2 – 35200
Exhibit 2: Nifty Bank Daily Chart
With spike in intraday volatility, it could be difficult for day traders to
gauge the direction on the weekly expiry day and hence one should
avoid aggressive positions. The immediate support for Nifty is placed
in the range of 15500-15450 while resistances will be seen around
15700 and 15800.
Key Levels
Support 1 – 15500 Resistance 1 – 15700
Support 2 – 15450 Resistance 2 – 15800
Sensex (51942) / Nifty (15635)
Nifty started the session marginally positive and inched higher towards
the 15800 mark around noon. The market breadth was positive and just
when it looked that the index is geared to surpass that hurdle, it took a
U-turn and declined sharply. Before anyone could realize, Nifty
corrected almost 200 points from the high and then even entered sub-
15600 level. With a mild recovery from intraday low, Nifty ended the
day with a loss of over 100 points at 15635.
The markets looked quite firm till noon, as the breadth was firmly
positive with a broad market participation. However, it witnessed some
shakeout post mid-session as some profit booking led to a sharp
decline from the highs. In our recent market outlook, we have been
mentioning about the importance of the resistance zone of 15770-
15800 for Nifty as it is the 127% retracement of the recent corrective
phase. Market have rallied one way in last three weeks and hence, some
profit booking around such important resistances are generally
encountered. Also, recently the hourly ‘20 EMA’ was acting as a support
on intraday declines in Nifty and the prices breached that support and
ended below it yesterday. However, this should not be taken a sign of
any trend reversal and it should be read just a correction within an
uptrend
.
www.angelbroking.com
Technical & Derivatives Report
June 10, 2021
Nifty Vs OI
14900
15000
15100
15200
15300
15400
15500
15600
15700
15800
15900
,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 6/7 6/9
(`000)
Openinterest Nifty
View
We began the session marginally in green and saw
index clocking fresh record highs of 15800.45. Things
looked posied for a breakout but all of a surden we
witnessed sharp selling pressure to drag index below
15600. Due to some respite in the end; Nifty concluded
the day with a cut of 0.67%.
FIIs were net sellers in the cash segment to the tune of
Rs. 846 crores. In index futures front, they bought worth
Rs. 537 crores with some rise in open interest;
suggesting blend of long formation and short covering
in yesterday’s session.
Despite, sharp sell-off we hardly saw any relevant open
interest activity in both the indices. In options front, put
writers of 15600-15750 strikes ran for shelter seeing the
selling pressure. On the other side, 15700-15800 call
strikes added huge positions and we believe these are
short trades. Due to unwinding in puts the highest open
interest concentration for the weekly series has now
shifted lower to 15500 put strike; whereas, in call
options remains intact in 15800 strike. As mentioned in
our previous commentary, we expected index sliding
below 15700 and market also behaved in line to our
expectation. Going ahead, as we haven’t seen any
relevant short addition yesterday and at the same time
the volatility index which is now hovering on the lower
side of the range; we dont see any major correction
from hereon.
C
o
mme
n
t
s
The Nifty futures open interest has decreased by 1.68%.
Bank Nifty futures open interest has decreased by 0.09%
as market closed at 15635.35 levels.
The Nifty June future closed with a premium of 24.90
point against a premium of 28.50 point in last trading
session. The July series closed at a premium of 77.05
point.
The INDIA VIX decreased from 15.22 to 14.75.
At the same time, the PCR-OI of Nifty decreased from
1.30 to 1.12.
Few of the liquid counters where we have seen high cost
of carry are MFSL, NMDC, IGL, FEDERALBNK and
CONCOR
.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPOWER 4447500 60.62 474.70 1.46
PETRONET 29793000 42.91 228.30 -7.86
RECLTD 18372000 18.22 163.95 6.09
AARTIIND 1341300 12.88 1813.40 0.86
VOLTAS 2721500 12.76 1046.00 -2.41
POWERGRID 18848000 8.40 242.10 3.32
GAIL 32744800 8.27 162.40 -2.91
MGL 1951200 7.72 1182.45 -0.26
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
COFORGE 706625 -14.94 3848.50 0.72
IBULHSGFIN 27059900 -13.31 262.15 4.58
SRF 314500 -12.94 6983.50 -0.36
BATAINDIA 1035650 -12.09 1557.85 -0.97
LALPATHLAB 427000 -10.62 2994.50 -0.18
NAUKRI 1397875 -9.36 4677.35 0.07
BOSCHLTD 90600 -8.72 15826.80 -0.71
BHARATFORG 7416000 -8.50 756.25 -0.32
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.12 0.95
BANKNIFTY 0.54 0.93
RELIANCE 0.47 0.40
ICICIBANK 0.51 0.50
INFY 0.50 0.37
Historical Volatility
SCRIP HV
PETRONET 39.65
RECLTD 47.02
TATAPOWER 53.00
POWERGRID 37.85
PFC 48.17
www.angelbroking.com
Technical & Derivatives Report
June 10, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (June Series) are given as an information and not as a recommendation.
Nifty Spot =
15635.35
FII Statistics for June 09, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4868.60 4332.05 536.55
119785 13271.85 0.36
INDEX
OPTIONS
639065.54 646887.03 (7821.49) 1005333 103317.51 (6.23)
STOCK
FUTURES
17080.24 17149.84 (69.60) 1379564 109900.36 0.83
STOCK
OPTIONS
23888.48 24229.10 (340.62) 300547 23241.08 5.25
Total 684902.86
692598.02
(7695.16) 2805229
249730.80
(1.41)
Turnover on June 09, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,46,677 34307.16 70.26
Index Options
5,68,02,404 55,55,197.03 79.62
Stock Futures
10,39,146 85446.79 33.36
Stock Options
31,37,414 2,65,290.84 26.16
Total 6,13,25,641 59,40,241.82 75.25
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15600 204.95
55.00 45.00 15655.00
Sell 15700 149.95
Buy 15600 204.95
99.35 100.65 15699.35
Sell 15800 105.60
Buy 15700 149.95
44.35 55.65 15744.35
Sell 15800 105.60
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15600 141.70
36.55 63.45 15563.45
Sell 15500 105.15
Buy 15600 141.70
63.00 137.00 15537.00
Sell 15400 78.70
Buy 15500 105.15
26.45 73.55 15473.55
Sell 15400 78.70
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300 16400 16500
Call Put
www.angelbroking.com
Technical & Derivatives Report
June 10, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
792
822
862
892
931
ASIANPAINT 2,897 2,920
2,943
2,966
2,988
AXISBANK
718
728
739
749
760
BAJAJ-AUTO 4,161 4,193
4,233
4,264
4,304
BAJFINANCE 5,531 5,603
5,699
5,771
5,867
BAJAJFINSV 11,202
11,380
11,609
11,788
12,017
BPCL
474
480
487
492
499
BHARTIARTL
526
533
542
549
558
BRITANNIA 3,529 3,552
3,580
3,603
3,631
CIPLA
936
948
961
972
986
COALINDIA
151
154
158
160
164
DIVISLAB 4,186 4,227
4,271
4,312
4,356
DRREDDY 5,145 5,184
5,247
5,286
5,349
EICHERMOT 2,684 2,707
2,741
2,763
2,797
GRASIM 1,459 1,475
1,502
1,518
1,545
HCLTECH
954
963
974
983
994
HDFCBANK 1,455 1,468
1,485
1,498
1,515
HDFCLIFE
672
679
688
694
703
HDFC 2,515 2,530
2,555
2,569
2,594
HEROMOTOCO 2,962 2,993
3,041
3,072
3,121
HINDALCO
377
380
385
389
394
HINDUNILVR 2,332 2,344
2,358
2,370
2,384
ICICIBANK
620
628
637
645
654
IOC
112
114
116
117
119
INDUSINDBK
974
989
1,012
1,027
1,051
INFY 1,395 1,405
1,415
1,425
1,435
ITC
210
211
213
214
216
JSW STEEL
682
690
702
710
721
KOTAKBANK 1,753 1,768
1,790
1,805
1,827
LT 1,488 1,503
1,529
1,545
1,571
M&M
792
798
807
814
823
MARUTI 7,120 7,180
7,259
7,319
7,399
NESTLEIND 17,355
17,456
17,541
17,642
17,727
NTPC
113
116
118
121
124
ONGC
120
122
125
127
130
POWERGRID
229
235
240
247
252
RELIANCE 2,122 2,148
2,185
2,211
2,248
SBILIFE
966
982
995
1,011
1,023
SHREECEM 27,943
28,175
28,532
28,764
29,121
SBIN
410
416
424
430
438
SUNPHARMA
658
665
675
683
692
TCS 3,168 3,184
3,202
3,218
3,236
TATACONSUM
692
697
706
712
720
TATAMOTORS
328
336
347
355
366
TATASTEEL 1,074 1,087
1,108
1,121
1,142
TECHM 1,036 1,044
1,054
1,062
1,073
TITAN 1,679 1,705
1,722
1,748
1,766
ULTRACEMCO 6,626 6,675
6,731
6,781
6,837
UPL
825
835
849
859
873
WIPRO
536
540
547
551
558
www.angelbroking.com
Technical & Derivatives Report
June 10, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
DISCLAIMER
Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited,
Bombay Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL
and Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel
Broking Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide
registration number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory
authority for accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed
or co-managed public offering of securities of the company covered by Analyst during the past twelve months.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate
the contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way
responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this
report. Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we
cannot testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this
document. While Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there
may be regulatory, compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
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
