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July 16, 2021
Technical & Derivatives Report
Nifty Bank Outlook
(3
5908
)
Despite no major clues for global market, the BankNifty managed
to start the weekly expiry day on a cheerful note. Post some hiccups
in the early morning trade, the index regained strength to surpass
the much awaited levels of 35800 with an ease. In fact, the banking
index almost touched the psychological level of 36000 and then
consolidated a the higher levels for the remaining part of the day.
Eventually, we concluded the day with the gains of 0.67% tad above
35900.
Since June series, the banking index made couple of attempts to
breach 35810 levels but failed. Finally, yesterday we not only
outshined this level but also managed to close above same. For the
forthcoming session, all eyes would be on the magical figure of
36000 mark; as any uptick beyond this we propel the next leg of
rally towards the life time highs. For traders, yesterday’s strategy of
buying ATM call when the BankNifty surpasses 35800 played well
and similarly for today any move beyond 36000 shall be an
opportunity to buy slightly Out-the-money call strikes.
Key Levels
Support 1 – 35800 Resistance 1 – 36000
Support 2 – 35500 Resistance 2 – 36250
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (53159) / Nifty (15924)
The day started slightly higher despite mixed global cues. In the initial
trades, market had some tentativeness which resulted in a small
downtick. However this didn’t last too long as the buyers latched on
to this opportunity to not only reclaim the positive territory but also
went on to surpass the sturdy wall of 15910 with some authority.
There was no bigger extended move after this but Nifty managed to
close at record highs by adding nearly half a percent to the bulls’ kitty.
There were several attempts made in last month or so to go pass the
level of 15910; but every time markets were struggling to do this.
Yesterday, finally this level is breached and that too on a closing basis,
bodes well for the bulls. Although the stellar move in IT basket
initiated the up move in last couple of days, the real push from the
financial space was needed to surpass the sturdy wall. In line with this,
the BANKNIFTY managed to traverse 35810, which led to a breakout
beyond 15910 for Nifty. The way we closed yesterday, 16000 is
merely a formality now. If there is no aberration on the global front,
we are likely to continue this optimism. So let’s keep our fingers
crossed and hope to reach the milestone in the forthcoming session
only.
As far as supports are concerned, 15900 followed by 15850 are to
be seen as immediate levels. For the coming session, keep your eyes
on the psychological level of 36000 for BANKNIFTY. The moment we
stay beyond it, banking could easily start leading from the front.
Key Levels
Support 1 – 15900 Resistance 1 – 16000
Support 2 – 15850 Resistance 2 – 16080
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July 16, 2021
Nifty Vs OI
15550
15600
15650
15700
15750
15800
15850
15900
15950
95,000
96,000
97,000
98,000
99,000
100,000
101,000
102,000
103,000
104,000
105,000
6/25 6/29 7/1 7/5 7/7 7/9 7/13
(`000)
Openinterest Nifty
View
The indices rallied on the weekly expiry day to mark new
highs led by some of the index heavyweights.
FIIs were net sellers in the cash segment to the tune of
Rs. 265 crores. In index futures front, they bought worth
Rs 706 crores with increase in open interest indicating
long formations and short covering in yesterday’s
session.
As the market hit new high, we saw fresh longs in both
Nifty as well as Bank Nifty. FII's formed fresh longs in
index futures and thier 'Long Short Ratio' is now around
73 percent. For the coming weekly series, 15900 and
15800 puts were attracting option writers and hence,
downside seems to be limited. Hence, traders are advised
to trade with a positive bias in both Nifty as well as Bank
Nifty.
Comments
The Nifty futures open interest has increased by 4.08%.
Bank Nifty futures open interest has increased by 4.16%
as market closed at 15924.90 levels.
The Nifty July future closed with a premium of 13.1 point
against a premium of 15.1 point in last trading session.
The August series closed at a premium of 47.95 point.
The INDIA VIX decreased from 12.59 to 12.27. At the
same time, the PCR-OI of Nifty increased from 1.23 to
1.29.
Few of the liquid counters where we have seen high cost
of carry are NMDC, GMRINFRA, IDFCFIRSTB, ACC, AND
WIPRO.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LTTS 807600 45.93 3461.45 18.66
NAM-INDIA 2577600 21.95 396.35 2.74
RBLBANK 28852100 19.69 214.95 -1.80
MARICO 7366000 16.51 534.30 0.25
LTI 829650 15.88 4420.10 4.71
HDFCAMC 801600 11.30 3086.25 4.61
ACC 3649500 10.67 2112.45 1.67
HINDALCO 30396700 10.35 401.45 2.42
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LALPATHLAB 483500 -9.24 3428.25 -1.00
VOLTAS 2992500 -8.99 1042.70 1.46
PFIZER 322375 -8.29 5653.65 -1.74
GRANULES 13068050 -7.83 370.05 -0.94
INDHOTEL 7757100 -5.33 149.90 0.57
MINDTREE 2799600 -5.32 2732.10 0.79
ASHOKLEY 34173000 -5.18 128.80 0.66
MANAPPURAM 23988000 -4.42 188.80 1.45
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.29 1.04
BANKNIFTY 1.05 0.92
RELIANCE 0.43 0.30
ICICIBANK 0.77 0.56
INFY 0.51 0.45
Historical Volatility
SCRIP HV
LTTS 53.40
HCLTECH 37.48
HDFCAMC 39.86
LT 37.70
LTI 45.90
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Technical & Derivatives Report
July 16, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot = 15924.90
FII Statistics for July 15, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3349.44
2643.92
705.52
143337
11749.73
3.43
INDEX
OPTIONS
763407.61
760891.74
2515.87
864900
73251.53
(29.60)
STOCK
FUTURES
11418.40
11264.42
153.98
1411097
112973.37
0.24
STOCK
OPTIONS
16458.23
16469.16
(10.93) 295523
24075.23
1.70
Total 794633.68
791269.24
3364.44
2714857
222049.86
(11.44)
Turnover on July 15, 2021
Instru
ment
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 2,14,807 18214.66 0.10
Index
Options
9,26,43,524 90,58,237.45
98.36
Stock
Futures
6,30,908 51268.09 9.10
Stock
Options
22,74,167 1,90,180.14 16.58
Total 9,57,63,406 93,17,900.34
94.33
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 15900 155.60
53.15 46.85 15953.15
Sell 16000 102.45
Buy 15900 155.60
93.80 106.20 15993.80
Sell 16100 61.80
Buy 16000 102.45
40.65 59.35 16040.65
Sell 16100 61.80
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 15900 119.25
34.90 65.10 15865.10
Sell 15800 84.35
Buy 15900 119.25
60.25 139.75 15839.75
Sell 15700 59.00
Buy 15800 84.35
25.35 74.65 15774.65
Sell 15700 59.00
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
15200 15300 15400 15500 15600 15700 15800 15900 16000 16100 16200 16300 16400 16500
Call Put
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Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
689
694
700
705
711
ASIANPAINT 2,949 2,966
2,989
3,006
3,028
AXISBANK
761
768
773
779
785
BAJAJ-AUTO 3,907 3,924
3,947
3,963
3,986
BAJFINANCE 6,061 6,095
6,136
6,171
6,212
BAJAJFINSV 12,809
12,884
12,997
13,072
13,185
BPCL
442
444
448
450
453
BHARTIARTL
520
523
528
530
535
BRITANNIA 3,426 3,443
3,473
3,491
3,521
CIPLA
967
970
976
979
985
COALINDIA
144
145
147
148
150
DIVISLAB 4,565 4,586
4,619
4,641
4,674
DRREDDY 5,334 5,364
5,401
5,431
5,468
EICHERMOT 2,618 2,643
2,677
2,702
2,736
GRASIM 1,537 1,547
1,563
1,574
1,590
HCLTECH
966
1,003
1,028
1,065
1,089
HDFCBANK 1,489 1,505
1,516
1,532
1,543
HDFCLIFE
682
688
694
699
705
HDFC 2,498 2,519
2,537
2,558
2,576
HEROMOTOCO 2,862 2,873
2,893
2,905
2,925
HINDALCO
385
393
398
406
411
HINDUNILVR 2,389 2,401
2,413
2,425
2,437
ICICIBANK
658
663
666
671
675
IOC
105
106
107
107
108
INDUSINDBK 1,040 1,048
1,058
1,065
1,075
INFY 1,537 1,559
1,578
1,600
1,619
ITC
200
203
206
209
211
JSW STEEL
689
694
701
706
713
KOTAKBANK 1,732 1,741
1,749
1,758
1,766
LT 1,520 1,565
1,595
1,640
1,670
M&M
771
775
780
784
788
MARUTI 7,221 7,264
7,311
7,354
7,401
NESTLEIND 17,369
17,495
17,577
17,703
17,784
NTPC
118
119
120
121
122
ONGC
114
116
118
119
121
POWERGRID
228
229
230
231
233
RELIANCE 2,069 2,076
2,085
2,092
2,102
SBILIFE 1,040 1,047
1,056
1,062
1,071
SHREECEM 28,091
28,259
28,420
28,588
28,748
SBIN
428
430
431
433
435
SUNPHARMA
677
680
684
687
691
TCS 3,172 3,187
3,210
3,225
3,247
TATACONSUM
759
766
770
777
781
TATAMOTORS
305
308
310
313
315
TATASTEEL 1,225 1,241
1,253
1,269
1,281
TECHM 1,060 1,086
1,103
1,129
1,146
TITAN 1,682 1,692
1,704
1,714
1,727
ULTRACEMCO 7,052 7,121
7,170
7,239
7,289
UPL
812
824
832
844
852
WIPRO
551
563
572
584
592
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Technical & Derivatives Report
July 16, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com
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For Derivatives Queries E-mail: derivat[email protected]m
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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