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Technical & Derivatives Report

August 27, 2020

Nifty Bank Outlook - (23414)

Bank Nifty too started on a positive note and the undertone

remained positive throughout the session. During the last hour,

the bank index extended the morning gains to end at 23414 with

1.39%. Even though we sounded skeptical for the benchmark

index during the last few sessions we remained upbeat for the

bank index outperformance. The same has been seen in the last

few sessions. On the daily chart, the bank index has now closed

above previous swing high and the way some of the heavy weight

banking space are placed we expect positive momentum can

continue on the F&O expiry day. Traders are henced advised to

have stock specific appoach from the basket that are likely to give

outperforming opportunites. As far as levels are concerned

previous resistance around 23200 and 23000 can act as support

whereas on the higher side the rising channel (as seen in chart)

higher range at 23800 - 24000 can act as immediate resistance.

Key Levels

Support 1 – 23200 Resistance 1 – 23800

Support 2 – 23000 Resistance 2 – 24000

Exhibit 1: Nifty Daily Chart

Sensex (39074) / Nifty (11550)

Despite sluggish global cues, our markets started the day marginally

higher above the 11500 mark. Subsequently, index remained in a

slender range for the major part of the day. However, all of a sudden,

strong buying momentum triggered at the stroke of the penultimate

hour in some of the banking heavyweights, resulting in a spike of

50-60 points in Nifty to post the highest close beyond 11500 in the

last six months.

Clearly, the market is in a beast mode at present and is in no mood

to correct. Since the last few days, we have not been

participating actively in index on the long side. Although it has

strongly maintained its positive posture, the real momentum is

clearly lacking. But yes this cannot be the excuse of letting this move

go. There are times in the market, when things do not go as per the

expectation and this is exactly the same. But we do not want to get

carried away by this, because it's not giving us any comfort and

sometimes there is absolutely no harm in avoiding extended moves.

For the coming session, 11575-11625 would be seen as immediate

upside levels and it coincides with one of the clusters of resistances.

On the downside, intraday support is placed at 11500 - 11440 and

with reference to previous commentary, if any weakness has to

trigger, the Nifty should break and sustain below 11440.

.Key Levels

Support 1 – 11500 Resistance 1 – 11575

Support 2 – 11440 Resistance 2 – 11625

Exhibit 2: Nifty Bank Daily Chart

The banking continues to be in the driving seat and one after

another, banking and financial stocks are giving some decent moves.

Apart from this, recently, we actively participated in Mid Caps and

although, the aggression has reduced a bit, we are still

following stock specific midcaps. Traders can continue with this

approach but need to manage risk properly and booking timely

profits is also advocated.

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Technical & Derivatives Report

August 27

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Nifty Vs OI

10900

11000

11100

11200

11300

11400

11500

11600

10,000

10,500

11,000

11,500

12,000

12,500

13,000

13,500

14,000

8/108/118/128/138/148/178/188/198/208/218/248/258/26

(`000)

Openinterest Nifty

View



Nifty started on a marginal positive note and traded in

a range for the major part. However, in the last hour

strong upomve was seen as Nifty ended with gains of

0.67% at 11550.



FIIs were net buyers in the cash market segment to the

tune of Rs. 1581 crores. In index futures, they bought

worth 360 crores with increase in open interest

indicating formation of mixed positions



In yesterday's session, Nifty consolidated around the

11500 mark for most part of the session wherein we

saw open interest addition during the first half in 11500

call and 11400 put. However, in the last hour of trade,

Nifty surpassed the 11500 mark due to which, the call

writers unwound some of their positions and the index

ended around 11550 mark. Infact, in the last hour

upmove, 11500 put options witnessed good amount of

open interest addition, thus making it support now for

the expiry day. On the flipside, 11600 is seen as the

immediate resistance today. FII's bought good amount

of equities in cash segment for the second consecutive

session whereas they formed mixed positions in index

futures. It is advisable for traders to continue to trade

with a stock specific approach.

mme



The Nifty futures open interest has increased by 14.82%

Bank Nifty futures open interest has increased by 4.71%

as market closed at 11549.60 levels.



The Nifty August future closed with a discount of 1.4

point against a discount of 0.6 point in last trading

session. The September series closed at a premium of

15.3 point.



The INDIA VIX has decreased from 19.32 to 19.30

At the same time, the PCR-OI of Nifty increased from 1.52

to 1.69.



Few of the liquid counters where we have seen high cost

of carry are LICHSGFIN, PNB, IDEA, MARICO AND

MANAPPURAM.

OI Gainers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

RBLBANK 23613200 28.99 200.40 5.89

SRTRANSFIN 4855093 23.98 726.35 4.46

IBULHSGFIN 20928100 15.11 217.75 5.44

BANKBARODA 58843200 11.76 48.45 -0.61

L&TFH 41446000 10.74 71.70 5.50

TVSMOTOR 6326600 9.26 467.50 4.37

NMDC 36642300 8.77 96.20 1.85

MGL 1345200 7.07 1015.10 -2.13

OI Losers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

EQUITAS 6133200 -40.75 55.15 -0.90

UJJIVAN 734800 -38.60 255.25 1.19

CENTURYTEX 1054200 -25.52 340.15 2.55

VOLTAS 2224000 -23.91 648.80 -1.22

APOLLOTYRE 15935000 -13.75 132.00 3.94

PNB 60578000 -11.84 35.40 0.56

MINDTREE 1192000 -11.41 1171.80 2.50

JUBLFOOD 2918500 -9.74 2077.05 -1.15

Put-Call Ratio

SCRIP PCR-OI PCR-VOL

NIFTY 1.69 1.01

BANKNIFTY 1.37 0.86

RELIANCE 0.71 0.47

ICICIBANK 0.77 0.47

INFY 0.52 0.50

Historical Volatility

SCRIP HV

HEROMOTOCO 52.48

TATAMOTORS 73.16

ADANIENT 69.26

TVSMOTOR 51.66

TATAPOWER 53.62

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Technical & Derivatives Report

August 27

, 2020

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

Nifty Spot =

11549.60

FII Statistics for August 26, 2020

Detail Buy

Sell Net

Open Interest

Contracts

Value

(in Cr.)

Change

(%)

INDEX

FUTURES

6623.64

6263.24

360.40

184827

14542.13

29.50

INDEX

OPTIONS

205617.83

205857.35

(239.52) 822060

66443.86

9.46

STOCK

FUTURES

27327.83

28105.77

(777.94) 1279271

91241.36

0.02

STOCK

OPTIONS

5289.83

5184.77

105.06

65674

4530.88

(15.47)

Total 244859.13

245411.13

(552.00) 2351832

176758.23

4.50

Turnover on August 26, 2020

Instrument

No. of

Contracts

Turnover

( in Cr. )

Change

(%)

Index Futures 4,51,863 32166.41 -3.28

Index Options

2,31,12,971

15,98,435.56

8.40

Stock Futures 14,73,018

1,07,539.40 -11.36

Stock Options

13,83,983

1,09,440.82 -10.56

Total 2,64,21,835

18,47,582.19

5.48

Bull-Call Spreads

Action Strike Price Risk Reward BEP

Buy 11600 18.50

15.95 84.05 11615.95

Sell 11700 2.55

Buy 11600 18.50

17.50 182.50 11617.50

Sell 11800 1.00

Buy 11700 2.55

1.55 98.45 11701.55

Sell 11800 1.00

Bear-Put Spreads

Action Strike Price Risk Reward BEP

Buy 11500 24.15

14.90 85.10 11485.10

Sell 11400 9.25

Buy 11500 24.15

19.10 180.90 11480.90

Sell 11300 5.05

Buy 11400 9.25

4.20 95.80 11395.80

Sell 11300 5.05

Nifty Put-Call Analysis

500,000

1000,000

1500,000

2000,000

2500,000

3000,000

3500,000

4000,000

4500,000

11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000 12100 12200 12300

Call Put

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Technical & Derivatives Report

August 27

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Daily Pivot Levels for Nifty Constituents

Scrips

PIVOT

ADANIPORTS

335

345

356

365

376

ASIANPAINT 1,925 1,948

1,979

2,002

2,032

AXISBANK

443

453

459

469

475

BAJAJ-AUTO 3,030 3,056

3,097

3,123

3,164

BAJFINANCE 3,585 3,615

3,661

3,691

3,737

BAJAJFINSV 6,416 6,490

6,595

6,669

6,774

BPCL

405

407

412

414

418

BHARTIARTL

502

508

518

525

535

INFRATEL

194

197

200

204

207

BRITANNIA 3,770 3,8

3,829

3,858

3,887

CIPLA

739

743

749

753

759

COALINDIA

138

140

142

144

146

DRREDDY 4,376 4,406

4,429

4,458

4,482

EICHERMOT 2,204 2,227

2,257

2,280

2,310

GAIL

100

101

102

GRASIM

648

658

668

678

688

HCLTECH

688

701

709

721

730

HDFCBANK 1,098 1,108

1,120

1,130

1,142

HDFC

580

586

595

600

609

HEROMOTOCO

1,785

1,800

1,819

1,835

1,853

HINDALCO 3,026 3,093

3,137

3,205

3,249

HINDUNILVR

190

192

193

195

197

ICICIBANK 2,150 2,167

2,176

2,193

2,202

IOC

381

388

393

396

INDUSINDBK

INFY

526

547

559

580

593

ITC

932

941

948

957

964

JSW STEEL

192

194

195

196

198

KOTAKBANK

282

284

285

288

289

LT 1,389 1,413

1,427

1,451

1,466

M&M

951

960

974

983

997

MARUTI

601

607

616

622

631

NESTLEIND 6,860 6,934

7,046

7,120

7,232

NTPC 16,058

16,124

16,236

16,302

16,414

ONGC

100

101

103

104

106

POWERGRID

RELIANCE

181

183

186

189

192

SHREECEM 2,010 2,074

2,111

2,175

2,212

SBIN 21,371

21,541

21,770

21,940

22,169

SUNPHARMA

205

207

209

211

213

TCS

518

522

526

529

534

TATAMOTORS 2,200 2,227

2,243

2,270

2,287

TATASTEEL

124

131

135

142

146

TECHM

419

422

425

428

431

TITAN

720

726

734

740

748

ULTRACEMCO 1,114 1,124

1,137

1,147

1,160

UPL 3,999 4,039

4,110

4,151

4,222

VEDANTA

485

489

493

497

501

WIPRO

265

268

272

275

278

ZEEL

192

202

208

217

223

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Technical & Derivatives Report

August 27

, 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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contrary view, if any.

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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