www.angelbroking.com

Technical & Derivatives Report

July 30, 2020

Nifty Bank Outlook - (22077)

Bank Nifty opened on a flat note and showed some

positive momentum to rally towards 22350. However, it gave up

the gains in the later part of the day and ended the session

marginally negative.

The index continues to trade in a Rising Channel and it has

pulled back higher from the support end in Tuesday's session.

Hence, till the Tuesday's low of 21600 is intact, we remain hopeful

of some pullback move within the channel. Thus traders are

advised to look for stock specific opportunities within this space.

The intraday supports are placed around 21870 and 21600

whereas resistances are seen around 22355 and 22550.

Key Levels

Support 1 – 21870 Resistance 1 – 22355

Support 2 – 21600 Resistance 2 – 22550

Exhibit 1: Nifty Daily Chart

Sensex (38071) / Nifty (11203)

Tuesday's tail end surge was followed by a flat start yesterday. As

expected, in the initial trades, we witnessed a strong optimism to

head towards the 11350 mark. Subsequently, the index

consolidated with a hint of mild profit booking throughout the first

half. However, post the mid-session, the selling aggravated in some

of the heavyweights like Reliance, HDFC Bank, ICICI Bank and

selective IT names. This resulted in a sharp decline to sneak below

the 11200 mark. Due to some modest recovery at the end, the Nifty

ended the session with a cut of nearly 100 points.

Till the first half, things were very much on expected lines and

importantly, the banking space looked a bit firm. However, a strong

bout of profit taking in the latter half poured complete water on

Tuesday's smart move. Practically the 'Bullish Flag' mentioned

yesterday is still intact; but theoretically this price configuration does

not see any pull back move immediately. It is known for it's one way

move post the breakout. Hence, we do not want to give much

weightage to this pattern now. Yesterday, although the key levels

are still unbroken, but the way market dipped, it has shaken the

confidence of the bulls and we need to pay attention to this

behaviour now. Nifty has reached a cluster of resistance and hence

aggressive longs here are strictly avoided.

Key Levels

Support 1 – 11100 Resistance 1 – 11300

Support 2 – 11050 Resistance 2 – 11350

Exhibit 2: Nifty Bank Daily Chart

Going ahead, traders are advised to take one step at a time and

should follow strict stop losses for existing trades. Now, as far as

levels are concerned, for the coming session, 11150 followed by

11100 would be seen as a strong support zone and just to highlight,

a move below 11050 should be treated as a short term trend

reversal. On the flipside, 11300-11350 has become a strong

resistance zone. Only a move beyond these hurdles would extend

the rally in coming days. But for it to happen, banking space needs

to contribute heavily, otherwise, the possibility is very low. The only

encouraging thing in yesterday's session was the outperformance of

the midcap basket. Hence, one should focus on such potential

candidates.

www.angelbroking.com

Technical & Derivatives Report

July 30, 2020

Nifty Vs OI

10200

10400

10600

10800

11000

11200

11400

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

7/10 7/14 7/16 7/20 7/22 7/24 7/28

(`000)

Openinterest Nifty

View



Nifty opened marginally lower but rallied from the

opening ticks in the first half an hour of trade. However,

it cooled off from the high of 11340 and corrected for

rest of the session to end tad above 11200.



FIIs were net sellers in the cash market segment to the

tune of Rs. 353 crores. In index futures, they sold worth

819 crores with rise in open interest by 23%, which

means mixed positions formed with more of shorts



Although Bank Nifty showed a relative outperformance,

it too gave up its intraday gains towards the end. Some

open interest addition was seen in both indices ahead

of the monthly expiry. FII's were net sellers in cash

segment while they formed mixed positions in index

futures. As the index failed to sustain above 11300,

writers added positions there thus forming resistance

for the expiry day. On the flip side, open interest

unwinding was seen in put options as the index

corrected. We may see some range bound activity on

the expiry day and hence, traders are advised to trade

according to intraday momentum.

mme



The Nifty futures open interest has increased by 6.97%

Bank Nifty futures open interest has increased by 5.34%

as market closed at 11202.85 levels.



The Nifty July future closed with a premium of 19.6 point

against a premium of 5.15 point in last trading session.

The August series closed at a premium of 18.45 point.



The INDIA VIX has increased from 23.64 to 24.11

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

1.83 to 1.41.



Few of the liquid counters where we have seen high cost

of carry are IDEA, EQUITAS, PNB, ZEEL and M&MFIN.

OI Gainers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

SAIL 44061000 17.60 35.45 -0.28

COLPAL 3160500 14.10 1447.75 4.00

SRF 778000 13.45 3934.80 4.32

NMDC 40193300 9.43 87.15 2.58

UBL 1304100 9.01 960.90 -0.95

APOLLOHOSP 1387500 7.73 1641.30 2.75

SRTRANSFIN 3074870 7.43 724.60 4.24

CUMMINSIND 2056800 6.26 400.65 -0.59

OI Losers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

JUSTDIAL 910000 -19.65 370.75 -0.21

DABUR 13485000 -16.47 489.60 3.00

CANBK 11235000 -15.49 100.25 -0.94

INDUSINDBK 26532000 -14.49 550.50 3.36

NCC 11781000 -13.02 30.05 -0.17

BATAINDIA 2586100 -12.85 1263.40 1.02

ASHOKLEY 48213000 -12.54 51.20 -0.19

KOTAKBANK 9782400 -11.47 1389.45 0.11

Put-Call Ratio

SCRIP PCR-OI PCR-VOL

NIFTY 1.41 0.95

BANKNIFTY 0.66 0.90

RELIANCE 0.84 0.70

ICICIBANK 0.41 0.29

INFY 1.27 0.72

Historical Volatility

SCRIP HV

DRREDDY 37.78

TATACHEM 44.64

COLPAL 42.93

GMRINFRA 54.41

DABUR 34.17

www.angelbroking.com

Technical & Derivatives Report

July 30, 2020

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

Nifty Spot =

11202.85

FII Statistics for July 29, 2020

Detail Buy Sell Net

Open Interest

Contracts

Value

(in Cr.)

Change

(%)

INDEX

FUTURES

6791.93

7610.94

(819.01) 178649

13734.16

23.38

INDEX

OPTIONS

311578.03

311014.17

563.86

846441

65393.98

2.73

STOCK

FUTURES

31535.72

31828.10

(292.38) 1287335

89974.19

(1.59)

STOCK

OPTIONS

6088.68

6116.02

(27.34) 67201

4631.03

(11.02)

Total 355994.36

356569.23

(574.87) 2379626

173733.36

1.16

Turnover on July 29, 2020

Instrument

No. of

Contracts

Turnover

( in Cr. )

Change

(%)

Index Futures 6,52,483 45070.91 12.81

Index Options 2,94,17,932

19,93,876.20 35.80

Stock Futures 16,36,902 1,16,406.10 -2.54

Stock Options 13,71,283 1,07,583.74 -16.04

Total 3,30,78,600

22,62,936.95 28.88

Bull-Call Spreads

Action Strike Price Risk Reward BEP

Buy 11200 64.80

41.75 58.25 11241.75

Sell 11300 23.05

Buy 11200 64.80

57.30 142.70 11257.30

Sell 11400 7.50

Buy 11300 23.05

15.55 84.45 11315.55

Sell 11400 7.50

Bear-Put Spreads

Action Strike Price Risk Reward BEP

Buy 11200 40.40

25.85 74.15 11174.15

Sell 11100 14.55

Buy 11200 40.40

33.95 166.05 11166.05

Sell 11000 6.45

Buy 11100 14.55

8.10 91.90 11091.90

Sell 11000 6.45

Nifty Put-Call Analysis

1000,000

2000,000

3000,000

4000,000

5000,000

6000,000

10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000

Call Put

www.angelbroking.com

Technical & Derivatives Report

July 30, 2020

Daily Pivot Levels for Nifty Constituents

Scrips

PIVOT

ADANIPORTS

306

310

317

321

328

ASIANPAINT 1,700 1,720

1,750

1,770

1,800

AXISBANK

428

434

441

447

453

BAJAJ-AUTO 3,042 3,070

3,110

3,139

3,178

BAJFINANCE 3,195 3,240

3,284

3,329

3,374

BAJAJFINSV 6,216 6,272

6,349

6,405

6,481

BPCL

435

445

456

465

477

BHARTIARTL

556

561

565

570

574

INFRATEL

186

191

195

201

205

BRITANNIA 3,736 3,765

3,809

3,838

3,882

CIPLA

654

667

676

690

699

COALINDIA

128

130

131

133

134

DRREDDY 3,977 4,140

4,238

4,400

4,498

EICHERMOT 20,634

21,017

21,284

21,667

21,933

GAIL

100

101

GRASIM

590

603

613

626

635

HCLTECH

681

688

699

706

717

HDFCBANK 1,037 1,051

1,070

1,084

1,103

HDFC 1,836 1,857

1,888

1,908

1,939

HEROMOTOCO

2,698

2,739

2,810

2,851

2,922

HINDALCO

160

162

165

167

170

HINDUNILVR 2,189 2,210

2,236

2,257

2,283

ICICIBANK

343

347

352

356

362

IOC

INDUSINDBK

517

534

549

566

582

INFY

936

945

953

962

969

ITC

191

194

196

199

201

JSW STEEL

210

214

217

221

225

KOTAKBANK 1,326 1,358

1,378

1,410

1,430

903

913

927

936

950

M&M

586

596

610

620

634

MARUTI 6,024 6,104

6,200

6,280

6,376

NESTLEIND 16,081

16,339

16,769

17,028

17,458

NTPC

ONGC

POWERGRID

178

180

182

184

186

RELIANCE 2,004 2,050

2,117

2,163

2,229

SHREECEM 21,280

21,512

21,856

22,088

22,432

SBIN

183

187

191

195

199

SUNPHARMA

479

486

491

498

503

TCS 2,192 2,234

2,288

2,330

2,384

TATAMOTORS

103

104

106

108

110

TATASTEEL

347

360

369

383

392

TECHM

657

667

681

691

705

TITAN 1,017 1,029

1,048

1,059

1,078

ULTRACEMCO 4,075 4,128

4,208

4,261

4,340

UPL

443

453

458

468

473

VEDANTA

107

109

111

112

115

WIPRO

270

274

276

279

281

ZEEL

138

140

144

146

149

www.angelbroking.com

Technical & Derivatives Report

July 30, 2020

Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com

For Technical & Derivatives Queries E-mail: technicalrese[email protected]

DISCLAIMER

Angel Broking Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay

Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and

Portfolio Manager and Investment Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking

Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration

number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for

accessing /dealing in securities Market. Angel or its associates/analyst has not received any compensation / managed or co-managed

public offering of securities of the company covered by Analyst during the past twelve months.

This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment

decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make

such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies

referred to in this document (including the merits and risks involved), and should consult their own advisors to determine the merits

and risks of such an investment.

Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and

trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's

fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the

contrary view, if any.

The information in this document has been printed on the basis of publicly available information, internal data and other reliable

sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this

document is for general guidance only. Angel Broking Limited or any of its affiliates/ group companies shall not be in any way

responsible for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report.

Angel Broking Limited has not independently verified all the information contained within this document. Accordingly, we cannot

testify, nor make any representation or warranty, express or implied, to the accuracy, contents or data contained within this document.

While Angel Broking Limited endeavors to update on a reasonable basis the information discussed in this material, there may be

regulatory, compliance, or other reasons that prevent us from doing so.

This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,

redistributed or passed on, directly or indirectly.

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