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January 20,
2021
Technical & Derivatives Report
Nifty
look
-
(
32425)
After two days of decent correction, markets surprised with a gap
up opening on the back of cheerful mood across the globe.
BANKNIFTY too started off higher and then continued with its
higher highs higher lows throughout the remaining part of the day
to recoup all of its previous day’s losses.
Honestly speaking, although there was a possibility of some
bounce yesterday, it exceeded our expectations by a fair margin.
We need to understand also the overall trend has been extremely
strong and the mega event ‘Union Budget’ is around the corner,
the corrections are likely to be short lived and will not be severe.
But having said that from hereon whether it will continue its
upward move to cross the record highs or not, we are unsure
about it. Till the time BANKNIFTY does not surpass 32700-33000,
the possibility of another leg of profit booking cannot be ruled
out. On the downside, 32000 - 31800 will be seen as key supports.
Key Levels
Support 1 – 32000 Resistance 1 – 32700
Support 2 – 31800 Resistance 2 – 33000
Exhibit 1: Nifty Daily Chart
Se
nsex
(
49399)
/ Nifty
(
14521
)
The Asian markets were trading with a positive bias and this led to a
gap up opening in Nifty around 14370. The minor dip in the first half
an hour got bought into and then it was no looking back for the
index. It crept higher throughout the day and ended the session
above 14500.
Post the previous sessions correction, it initially seemed that the
pullback move would again see some profit booking and the
volatility would continue in yesterday’s session as well. However, the
index breached its intraday resistances one after another and posted
decent gains at close. Most of the sectors participated in the upmove
yesterday while the broader markets gained back momentum.
Frankly speaking, yesterday’s move was certainly a bit unexpected
by us; but certainly the bulls have made a smart comeback supported
by the global optimism. Going ahead, 14450 and 14320 would now
be seen as immediate supports whereas 14600-14620 would be the
immediate range to watch. Traders are advised to focus on stock
specific moves and look for themes which are providing good
opportunities during the day.
Key Levels
Support 1 – 14450 Resistance 1 – 14600
Support 2 – 14320 Resistance2 – 14620
Exhibit 2: Nifty Bank Daily Chart
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January 20, 2021
Nifty Vs OI
13700
13800
13900
14000
14100
14200
14300
14400
14500
14600
14700
12,000
12,500
13,000
13,500
14,000
14,500
15,000
15,500
1/1 1/5 1/7 1/11 1/13 1/15 1/19
(`000)
Openinterest Nifty
View
Nifty started on a positive note on back of positive global
cues and rallied throughout the session to end above
14500.
FIIs were net buyers in the cash segment to the tune of
Rs. 258 crore. In index future segment, they bought worth
Rs. 509 crores with increase in open interest indicating long
formation in yesterday’s session.
The indices rallied in yesterday's session but no
relevant fresh positions were formed. However, FII's added
some longs in the index futures segment. In the options
segment, 14400 and 14500 call writers ran for cover as the
index rallied higher. The options data hints at resistance
around 14600 and 14700 while support is placed around
14400. Traders are advised to trade with a stock specific
approach and trade with proper risk management.
C
o
mme
n
t
s
The Nifty futures open interest has increased by 0.56%
Bank Nifty futures open interest has increased by 1.27%
as market closed at 14521.15 levels.
The Nifty January future closed with a premium of 48.85
point against a premium of 5.95 point in last trading
session. The February series closed at a premium of 84.15
point.
The INDIA VIX decreased from 24.39 to 22.90.
At the same time, the PCR-OI of Nifty increased from 1.12
to 1.36.
Few of the liquid counters where we have seen high cost
of carry are SUNPHARMA, MRF, SAIL VEDL , LUPIN AND
PAGEIND.
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ICICIGI 840650 20.17 1510.00 -0.82
BANDHANBNK 26717400 18.33 362.30 2.25
HAVELLS 4325000 11.33 1019.20 3.86
DLF 24423300 9.66 289.00 4.78
CHOLAFIN 5347500 8.91 437.95 7.45
SIEMENS 914100 8.56 1679.60 2.92
BOSCHLTD 134900 8.27 15182.00 5.00
ACC 2578000 8.18 1712.40 0.91
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
L&TFH 32536000 -11.03 107.10 8.73
APOLLOTYRE 13045000 -8.49 189.35 5.48
BAJAJFINSV 725250 -8.20 8924.10 7.01
ONGC 50196300 -6.24 98.10 1.34
TORNTPHARM 904000 -5.19 2750.90 4.03
BAJFINANCE 5911500 -5.15 4959.20 5.17
CADILAHC 10951600 -4.67 485.20 2.72
ZEEL 28344000 -4.51 225.05 3.51
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY 1.36 0.94
BANKNIFTY 0.94 0.91
RELIANCE 0.54 0.43
ICICIBANK 0.55 0.45
INFY 0.34 0.30
Historical Volatility
SCRIP HV
IDFCFIRSTB 62.02
BAJAJFINSV 58.32
L&TFH 66.30
APOLLOTYRE 52.47
BOSCHLTD 48.13
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Technical & Derivatives Report
January 20, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (January Series) are given as an information and not as a recommendation.
Nifty Spot =
14521.15
FII Statistics for January 19, 2020
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4254.89
3746.02
508.87
128640
12999.99
8.22
INDEX
OPTIONS
286355.23
286341.32
13.91
869455
87183.78
1.28
STOCK
FUTURES
12242.64
11265.39
977.25
1212133
100536.44
(0.59)
STOCK
OPTIONS
12156.20
11844.02
312.18
187057
15543.05
0.59
Total 315008.96
313196.75
1812.21
2397285
216263.26
0.62
Turnover on January 19, 2020
Instrume
nt
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures 4,25,349 39261.51 0.95
Index Options 2,66,17,450
24,54,777.17 24.48
Stock Futures 9,11,614 76355.94 -7.61
Stock Options 21,69,729 1,87,404.44 2.85
Total 3,01,24,142
27,57,799.06 21.18
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy 14500 207.05
58.15 41.85 14558.15
Sell 14600 148.90
Buy 14500 207.05
106.30 93.70 14606.30
Sell 14700 100.75
Buy 14600 148.90
48.15 51.85 14648.15
Sell 14700 100.75
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy 14500 135.15
33.15 66.85 14466.85
Sell 14400 102.00
Buy 14500 135.15
57.50 142.50 14442.50
Sell 14300 77.65
Buy 14400 102.00
24.35 75.65 14375.65
Sell 14300 77.65
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
13700 13800 13900 14000 14100 14200 14300 14400 14500 14600 14700 14800 14900 15000
Call Put
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January 20, 2021
Da
ily
Pivot Level
s for
Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
509
521
528
540
547
ASIANPAINT 2,551 2,598
2,637
2,684
2,724
AXISBANK
655
662
667
674
679
BAJAJ-AUTO 3,519 3,580
3,622
3,683
3,725
BAJFINANCE 4,659 4,809
4,902
5,052
5,145
BAJAJFINSV 8,189 8,557
8,767
9,135
9,345
BPCL
403
408
413
418
423
BHARTIARTL
581
587
592
598
603
BRITANNIA 3,550 3,576
3,613
3,638
3,676
CIPLA
794
808
817
831
840
COALINDIA
138
139
141
141
143
DIVISLAB 3,519 3,559
3,595
3,635
3,671
DRREDDY 5,008 5,049
5,077
5,117
5,145
EICHERMOT 2,811 2,847
2,888
2,924
2,965
GAIL
137
138
140
141
143
GRASIM
978
1,005
1,029
1,056
1,079
HCLTECH
969
976
987
994
1,004
HDFCBANK 1,450 1,477
1,494
1,521
1,539
HDFCLIFE
690
694
698
702
706
HDFC 2,532 2,594
2,638
2,700
2,743
HEROMOTOCO 3,144 3,189
3,215
3,259
3,285
HINDALCO
240
246
249
255
258
HINDUNILVR 2,297 2,330
2,356
2,389
2,415
ICICIBANK
529
538
543
552
557
IOC
97
98
99
100
101
INDUSINDBK
927
933
943
949
958
INFY 1,301 1,309
1,320
1,328
1,339
ITC
215
217
219
221
224
JSW STEEL
375
385
392
402
408
KOTAKBANK 1,828 1,858
1,875
1,904
1,922
LT 1,318 1,344
1,363
1,389
1,408
M&M
792
800
810
818
828
MARUTI 7,761 7,842
7,916
7,997
8,071
NESTLEIND 17,598
17,676
17,748
17,827
17,899
NTPC
96
98
99
101
103
ONGC
97
97
98
99
100
POWERGRID
194
197
198
201
203
RELIANCE 1,978 1,997
2,014
2,033
2,050
SBILIFE
877
891
904
918
932
SHREECEM 23,527
23,951
24,213
24,637
24,899
SBIN
293
296
299
302
305
SUNPHARMA
575
586
594
605
614
TCS 3,210 3,235
3,257
3,282
3,304
TATAMOTORS
247
253
257
263
268
TATASTEEL
634
657
671
694
708
TECHM
975
984
996
1,005
1,017
TITAN 1,492 1,506
1,515
1,529
1,538
ULTRACEMCO 5,332 5,411
5,473
5,552
5,614
UPL
546
555
563
572
580
WIPRO
421
425
433
437
444
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Technical & Derivatives Report
January 20, 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: derivatives.desk@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