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July 14, 2021
Technical & Derivatives Report
Nifty Bank Outlook
(3
5674
)
Post last two choppy sessions, we kick started the yesterday’s
session on a cheerful note almost towards 35500 mark. We
witnessed some hiccup in the initial hour of trade and then the
banking index attracted fresh buying to reclaim 35700 plus
levels. Finally, we concluded the day with the handsome gains
of 1.35% to previous day’s close.
Yesterday’s recovery was indeed a sigh of relief for Bulls as
index was hovering near the important make or break level of
35000 mark for last two trading sessions. Recently, due to
absent of major triggers in the domestic market the global
factors has been directing our market to great extend as the fall
seen on the last weekly expiry day was mainly due to the
nervousness seen across the globe. This fall was very well
compensated by yesterday’s strong opening to reclaim 35700
mark. Considering yesterday’s strength, we expect continuation
of this optimism towards the 35800-36000 and sustainable
move beyond this shall open doors for next leg of rally towards
life time high. Hence, we would advise traders to trade with a
positive biasness and buy ATM call strikes in case of any
intraday declines.
Key Levels
Support 1 – 35400 Resistance 1 – 35800
Support 2 – 35250 Resistance 2 – 36000
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (52770) / Nifty (15812)
Since last few days global markets have become a spoilsport and
yesterday, the gap up opening in our market was provided by the
global optimism only to compensate the recent damage. After
some initial pause, Nifty continued its northward march to first
challenge the 15800 mark and then eventually to conquer it
successfully. With this, Nifty reclaimed the first bullish territory
beyond 15800 to make it a bit interesting for the forthcoming
session.
After Monday’s hiccup, yesterday’s positive start beyond 15750
was a bit pleasant surprise for most of the participants.
Fortunately it did not struggle there; in fact the bulls managed to
extend this rally beyond a key barrier of 15800. Although, recently
lot of such attempts have failed, we hope the benchmark index to
surpass the sturdy wall of 15900 convincingly to reach the
milestone of 16000. As we have been reiterating, if this
achievement has to happen, the banking space needs to step in
and yesterday lot of marquee names showed some promising
signs. Let’s see how things pan out in the today’s session.
As far as supports are concerned,
15750
–
15700
are to be seen
as immediate supports whereas the first sign of weakness would
come only below 15600. Till then better to stay positive and
focus on individual themes which are doing extremely well since
last couple of days.
Key Levels
Support 1 – 15750 Resistance 1 – 15880
Support 2 – 15700 Resistance 2 – 15915
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Technical & Derivatives Report
July 14, 2021
Nifty Vs OI
15550
15600
15650
15700
15750
15800
15850
15900
15950
96,000
97,000
98,000
99,000
100,000
101,000
102,000
103,000
104,000
6/25 6/29 7/1 7/5 7/7 7/9 7/13
(`000)
Openinterest Nifty
View
Nifty started the day on a positive note led by the positive
cues from the global markets. The index surpassed the
hurdle of 15800 and ended the day comfortably above it.
FIIs were net buyers in the cash segment to the tune of
Rs. 114 crores. In index futures front, they bought worth
Rs 2573 crores with fall in open interest indicating short
covering and long formations in yesterday’s session.
Nifty surpassed the hurdle of 15800 led by the banking
space, which rallied due to short covering. Both FII's as
well as DII's bought equities while FII's covered some
shorts and formed longs in the index futures. The call
writers were quite active on Monday but as the Nifty
surpassed 15800 mark, they ran to cover their positions
and good amount of writing was seen in put options. The
data indicates that support base has now shifted higher
to 15700 and index seems geared up to rally towards the
16000 mark. Hence, traders are advised to trade with a
positive bias and look for buying opportunities.
Comments
The Nifty futures open interest has increased by 0.32%.
Bank Nifty futures open interest has decreased by 7.01%
as market closed at 15812.35 levels.
The Nifty July future closed with a premium of 21.45 point
against a premium of 19.35 point in last trading session.
The August series closed at a premium of 57.4 point.
The INDIA VIX decreased from 12.99 to 12.62. At the
same time, the PCR-OI of Nifty increased from 0.87 to
1.10.
Few of the liquid counters where we have seen high cost
of carry are NMDC, ITC, IGL, TATAPOWER, AND PIIND.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ABFRL 7779200 31.57 229.45 7.69
COROMANDEL 927500 16.94 877.60 -0.66
RAMCOCEM 1870850 10.33 1110.45 0.36
APLLTD 1534500 8.86 965.00 -0.96
LTTS 510400 7.68 2829.35 -3.24
TRENT 1158550 7.03 926.80 3.01
NTPC 48883200 6.14 119.90 1.91
ICICIGI 1005550 5.02 1543.20 -2.38
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IRCTC 1724775 -15.72 2274.45 0.45
TVSMOTOR 6027000 -8.66 610.00 1.56
MGL 2023200 -6.83 1186.30 0.51
GRANULES 15165200 -6.15 369.05 -0.80
NMDC 87481900 -5.60 171.80 2.99
MPHASIS 696475 -5.34 2191.05 -1.16
HDFCLIFE 20761400 -5.21 693.40 1.38
RECLTD 22842000 -5.20 148.65 0.98
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.10 0.89
BANKNIFTY 1.10 0.87
RELIANCE 0.43 0.48
ICICIBANK 0.81 0.45
INFY 0.50 0.46
Historical Volatility
SCRIP HV
ABFRL 49.12
MRF 35.77
NAUKRI 53.36
LTTS 48.21
ICICIGI 41.60
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Technical & Derivatives Report
July 14, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot = 15812.45
FII Statistics for July 13, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4788.25
2215.51
2572.74
134626
10981.27
(3.55)
INDEX
OPTIONS
340138.72
346462.18
(6323.46) 1193783
106204.93
(1.46)
STOCK
FUTURES
10913.40
10119.27
794.13
1401273
111539.52
0.27
STOCK
OPTIONS
12114.96
12111.39
3.57
284557
23099.98
2.26
Total 367955.33
370908.35
(2953.02) 3014239
251825.70
(0.41)
Turnover on July 13, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,69,997 22762.71 3.68
Index
Options
3,76,81,031 37,04,765.45
6.06
Stock Futures
5,49,475 44902.21 -4.88
Stock
Options
16,50,682 1,38,902.33 -6.35
Total 4,01,51,185 39,11,332.70
5.41
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15800 168.80
52.55 47.45 15852.55
Sell 15900 116.25
Buy 15800 168.80
93.90 106.10 15893.90
Sell 16000 74.90
Buy 15900 116.25
41.35 58.65 15941.35
Sell 16000 74.90
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15800 136.70
35.95 64.05 15764.05
Sell 15700 100.75
Buy 15800 136.70
62.75 137.25 15737.25
Sell 15600 73.95
Buy 15700 100.75
26.80 73.20 15673.20
Sell 15600 73.95
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
15000 15100 15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300
Call Put
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July 14, 2021
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
690
697
709
716
728
ASIANPAINT 2,964 2,979
3,000
3,015
3,036
AXISBANK
748
760
766
778
784
BAJAJ-AUTO 3,915 3,941
3,980
4,006
4,045
BAJFINANCE 6,088 6,121
6,173
6,206
6,258
BAJAJFINSV 12,711
12,810
12,904
13,004
13,098
BPCL
446
448
452
454
457
BHARTIARTL
524
527
531
534
539
BRITANNIA 3,456 3,471
3,480
3,495
3,504
CIPLA
950
958
964
972
978
COALINDIA
146
147
148
149
150
DIVISLAB 4,545 4,576
4,597
4,628
4,649
DRREDDY 5,362 5,399
5,467
5,504
5,572
EICHERMOT 2,672 2,690
2,717
2,734
2,762
GRASIM 1,521 1,549
1,566
1,593
1,610
HCLTECH
953
960
972
979
991
HDFCBANK 1,475 1,489
1,497
1,511
1,519
HDFCLIFE
680
686
691
697
702
HDFC 2,465 2,505
2,528
2,567
2,590
HEROMOTOCO 2,884 2,894
2,906
2,917
2,929
HINDALCO
387
390
392
395
397
HINDUNILVR 2,415 2,426
2,441
2,452
2,466
ICICIBANK
648
657
661
670
675
IOC
106
107
108
108
109
INDUSINDBK 1,037 1,047
1,053
1,063
1,069
INFY 1,526 1,535
1,546
1,555
1,566
ITC
201
201
202
202
203
JSW STEEL
690
696
700
705
709
KOTAKBANK 1,712 1,730
1,741
1,759
1,770
LT 1,496 1,505
1,510
1,519
1,524
M&M
770
776
779
784
788
MARUTI 7,329 7,380
7,455
7,505
7,580
NESTLEIND 17,543
17,618
17,675
17,750
17,807
NTPC
116
118
120
122
124
ONGC
118
119
120
121
122
POWERGRID
226
227
230
231
233
RELIANCE 2,082 2,091
2,097
2,106
2,112
SBILIFE 1,028 1,040
1,048
1,061
1,069
SHREECEM 27,481
27,776
28,095
28,389
28,708
SBIN
426
428
430
431
433
SUNPHARMA
660
672
680
692
701
TCS 3,153 3,170
3,192
3,209
3,231
TATACONSUM
759
766
773
780
788
TATAMOTORS
306
309
310
313
315
TATASTEEL 1,211 1,220
1,232
1,240
1,252
TECHM 1,039 1,045
1,053
1,059
1,067
TITAN 1,708 1,716
1,726
1,734
1,743
ULTRACEMCO 7,044 7,087
7,123
7,166
7,202
UPL
819
825
830
836
840
WIPRO
519
522
526
529
533
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Technical & Derivatives Report
July 14, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.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