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Technical & Derivatives Report

Aug

ust 12, 2020

Nifty Bank Outlook - (22227)

Yesterday, Bank Nifty too started on a positive note however this

was followed by an intra-day dip. This dip got bought into in the

second half as bank nifty moved towards the high point of the day

to eventually end with gains of 1.49% at 22227.20

After a long time, Bank Nifty and banking stocks finally showed

outperformance in yesterday's session. On the daily chart, we are

witnessing a fresh buy crossover in RSI Smoothened

indicating that we may see some catch-up rally in bank nifty in the

near term after its recent underperformance. In such scenario, the

next resistance is placed around 22450 and 22670 levels whereas

support is placed around 22040 and 21922 levels. Traders can

have a stock-specific long approach from this basket however as

said above one should avoid aggressive bets.

Key Levels

Support 1 – 22040 Resistance 1 – 22450

Support 2 – 21922 Resistance 2 – 22670

Exhibit 1: Nifty Daily Chart

Sensex (38407) / Nifty (11323)

Similar to previous session, yesterday too we had a gap up opening

in the wake of relentless run in Global peers and this time it was on

account of Russia claiming the vaccine for COVID-19. Subsequently,

our markets cooled off a bit after the initial upmove; but once again

regained strength in the latter half. Eventually, the Nifty ended the

session above the 11300 mark.

In last couple of sessions, although the undercurrent has been

positive, index is clearly lacking the momentum; because the real

focus has shifted to the individual stocks, especially from the

broader market. In fact yesterday, the banking space was the real

charioteer as it kept showing sheer outperformance throughout the

day. With all due respect to such positivity, we still remain a bit

skeptical and would continue advocating caution around current

levels. In such kind of euphoric situation, it is hard to take such view

but the way overall things are panning out, does not give us comfort

at all. In last four months, we never sounded such cautious, in fact

strongly advised using all decline to go long; but we do not maintain

the similar opinion now.

Exhibit 2: Nifty Bank Daily Chart

As far as levels are concerned, Nifty is still finding it very difficult to

surpass 11350 convincingly and hence 11350-11400 remains to be

a sturdy wall. On the downside, 11300-11238 are the levels to watch

out for. At present, traders are advised to focus on individual stocks

but aggressive bets should ideally be avoided.

Key Levels

Support 1 – 11300 Resistance 1 – 11350

Support 2 – 11238 Resistance 2 – 11400

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Technical & Derivatives Report

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Nifty Vs OI

10600

10700

10800

10900

11000

11100

11200

11300

11400

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

7/20 7/22 7/24 7/28 7/30 8/3 8/5 8/7

(`000)

Openinterest Nifty

View



Quite similar to the previous session, Nifty after a gap

up opening witnessed a consolidation within a range

and ended with gains of 0.46% at 11322.50.



FIIs were net buyers in the cash market segment to the

tune of Rs. 1014 crores. In index futures, they bought

worth 106 crores with no relevant change in open

interest



Although no relevant change of open interest was seen

in Nifty, long formation was seen in the Bank Nifty index

as price upmove was supported by rise in open interest

of over 14 percent. FII's bought equities worth more

than 1000 crores while they added marginal longs in

the index futures segment. In options segment, 11400

call added open interest indicating immediate

resistance around this level, while supports are placed

at 11300 and 11200. Traders are advised to trade with

a stock specific approach from a near term perspective.

mme



The Nifty futures open interest has decreased by 0.12%

Bank Nifty futures open interest has increased by 14.11%

as market closed at 11322.70 levels.



The Nifty August future closed with a premium of 21.85

point against a premium of 23.2 point in last trading

session. The September series closed at a premium of

29.7 point.



The INDIA VIX has decreased from 22.51 to 21.36

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

1.59 to 1.43.



Few of the liquid counters where we have seen high cost

of carry are IDEA, DLF, MOTHERSUMI, SBIN AND

AUROPHARMA.

OI Gainers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

IBULHSGFIN 18407800 20.37 214.70 4.83

ZEEL 37875000 15.86 159.75 5.52

RAMCOCEM 2121600 13.76 698.95 1.91

GLENMARK 8204100 12.59 477.05 1.13

SUNTV 5830500 10.90 397.00 -0.26

JINDALSTEL 20420000 10.83 211.05 4.69

BEL 28279600 9.83 105.85 -2.21

NIITTECH 468750 8.98 1977.75 -1.04

OI Losers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

SHREECEM 150550 -9.66 21551.10 -3.99

CHOLAFIN 5097500 -9.62 207.15 -0.74

CENTURYTEX 2969400 -8.34 315.80 -2.31

TORNTPHARM 1555000 -8.02 2870.40 -4.46

PFC 48682400 -7.95 90.05 0.56

APOLLOHOSP 1228500 -6.90 1750.80 -1.28

HINDALCO 28027400 -6.71 178.95 0.20

AMARAJABAT 1420000 -6.52 742.70 -1.20

Put-Call Ratio

SCRIP PCR-OI PCR-VOL

NIFTY 1.43 0.90

BANKNIFTY 0.97 0.87

RELIANCE 0.75 0.42

ICICIBANK 0.53 0.49

INFY 0.65 0.46

Historical Volatility

SCRIP HV

IDFCFIRSTB 63.20

TORNTPHARM 48.53

SHREECEM 45.95

VOLTAS 45.79

TITAN 50.95

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Technical & Derivatives Report

August 12, 2020

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

Nifty Spot =

11322.50

FII Statistics for August 11, 2020

Detail Buy

Sell Net

Open Interest

Contracts

Value

(in Cr.)

Change

(%)

INDEX

FUTURES

2760.50

2654.30

106.20

109404

8474.96

0.13

INDEX

OPTIONS

153036.74

152878.47

158.27

644973

51216.07

6.91

STOCK

FUTURES

12187.69

14427.60

(2239.91) 1288525

90413.20

(0.63)

STOCK

OPTIONS

5598.83

5629.30

(30.47) 79720

5504.98

7.02

Total 173583.76

175589.67

(2005.91) 2122622

155609.21

1.87

Turnover on August 11, 2020

Instrument

No. of

Contracts

Turnover

( in Cr. )

Change

(%)

Index Futures 3,62,269 24266.43 3.63

Index Options 1,72,44,495

11,95,678.29

36.02

Stock Futures 7,96,201 57987.43 -3.02

Stock Options 11,66,142 90097.17 3.75

Total 1,95,69,107

13,68,029.32

30.40

Bull-Call Spreads

Action Strike Price Risk Reward BEP

Buy 11300 200.65

53.45 46.55 11353.45

Sell 11400 147.20

Buy 11300 200.65

97.85 102.15 11397.85

Sell 11500 102.80

Buy 11400 147.20

44.40 55.60 11444.40

Sell 11500 102.80

Bear-Put Spreads

Action Strike Price Risk Reward BEP

Buy 11300 155.55

36.80 63.20 11263.20

Sell 11200 118.75

Buy 11300 155.55

66.40 133.60 11233.60

Sell 11100 89.15

Buy 11200 118.75

29.60 70.40 11170.40

Sell 11100 89.15

Nifty Put-Call Analysis

500,000

1000,000

1500,000

2000,000

2500,000

3000,000

3500,000

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

328

332

334

338

340

ASIANPAINT 1,745 1,767

1,802

1,825

1,860

AXISBANK

430

439

444

454

459

BAJAJ-AUTO 2,957 2,982

3,021

3,0

3,085

BAJFINANCE 3,362 3,410

3,452

3,500

3,542

BAJAJFINSV 6,337 6,389

6,442

6,494

6,547

BPCL

409

419

426

436

443

BHARTIARTL

544

547

554

558

564

INFRATEL

188

191

195

198

202

BRITANNIA 3,800 3,840

3,905

3,945

4,010

CIPLA

750

764

797

816

COALINDIA

129

130

131

132

DRREDDY 4,460 4,528

4,633

4,701

4,807

EICHERMOT 21,034

21,238

21,454

21,658

21,874

GAIL

100

GRASIM

606

615

628

637

650

HCLTECH

669

677

689

696

708

HDFCBANK 1,040 1,053

1,062

076

1,085

HDFC

602

605

610

613

617

HEROMOTOCO

1,792

1,809

1,828

1,846

1,864

HINDALCO 2,660 2,686

2,731

2,757

2,802

HINDUNILVR

173

176

181

184

190

ICICIBANK 2,190 2,200

2,217

2,227

2,244

IOC

358

363

369

373

379

INDUSINDBK

INFY

503

513

519

528

534

ITC

936

942

952

958

968

JSW STEEL

196

199

204

207

211

KOTAKBANK

243

248

252

257

261

LT 1,341 1,353

1,369

1,381

1,397

M&M

944

953

966

975

989

MARUTI

613

621

631

639

649

NESTLEIND 6,555 6,602 6,65

6,705

6,760

NTPC 16,459

16,541

16,663

16,745

16,868

ONGC

POWERGRID

RELIANCE

171

174

178

181

185

SHREECEM 2,072 2,103

2,131

2,162

2,191

SBIN 20,953

21,252

21,621

21,920

22,289

SUNPHARMA

192

194

195

198

TCS

527

534

542

549

556

TATAMOTORS 2,253 2,266

2,289

2,303

2,326

TATASTEEL

119

121

123

125

128

TECHM

404

410

419

425

434

TITAN

658

667

680

688

702

ULTRACEMCO 1,028 1,047

1,068

1,086

1,107

UPL 3,886 3,927

4,002

4,044

4,119

VEDANTA

470

476

486

492

503

WIPRO

275

277

281

283

287

ZEEL

149

155

158

163

166

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Technical & Derivatives Report

August 12, 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