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March 31, 2021

Technical & Derivatives Report

Exhibit 1: Nifty Daily Chart

Nifty

Bank Out

look

(

33875)

After an extended weekend, our markets opened with a good

bump up on the back of favourable cues from the global bourses.

The banking too had a great start in tandem with benchmark to

surpass the immediate hurdle of 33500. During the remaining

part of the day, we witnessed a range bound action in most of the

banking counters, but the bias remained strongly bullish.

Eventually, the penultimate session of the financial year ended

with slightly less than two percent gains for the banking index.

In last couple of sessions, BANKNIFTY has come off its lows quite

swiftly after precisely testing the key support of ’89-EMA’ on daily

chart. Now it has reached its cluster of resistance and hence, it

would be interesting to see how it behaves here. As far as levels

are concerned, 34000 – 34400 are to be seen as immediate

hurdles; whereas yesterday’s lower range of 33600 – 33400

should act as intraday support. The real momentum would only

be seen outside this range and hence, traders should focus on

individual stocks till the time index remains in a consolidation

zone.

Key Levels

Support 1 – 33600 Resistance 1 – 34000

Support 2 – 33400 Resistance 2 – 34400

Sensex (50137) / Nifty (14845)

Post the extended weekend, our markets started the session on an

optimistic note with a gap up above 14600 mark. The momentum

continued throughout the day supported by participation from

index heavyweights and Nifty ended the session around 14850,

with gains of over a couple of percent.

The global markets traded with a positive bias which had a positive

impact on our markets at opening. We then witnessed a good

buying interest in the benchmark and some of the index

heavyweights which propelled the market higher. If we look at the

chart, we had seen a pullback from a ‘Rising Trendline’ support in

Nifty during last week. A follow up buying yesterday with a broad

market participation is certainly an encouraging sign and hints at a

probability of resumption of the broader uptrend. However, we are

now at an important juncture in the index at 14875-14900 and

15050 which are resistances on short term charts. The index needs

to surpass these with an authority which would then build a greater

confidence going ahead. Hence, taking one step at a time and

avoiding aggressive bets would be the advice for traders at these

levels. A lot of sector/stock specific momentum could clearly be

seen and hence, capitalizing on such ideas would be a better

approach to ride this momentum. As far as index levels are

concerned, 14700 would be seen as an immediate support while

14900 and 15050 are the resistances to watch out for.

Exhibit 2: Nifty Bank Daily Chart

A lot of sector specific movement was seen yesterday wherein the

IT, Pharma, Metals and FMCG pack saw good buying interest along

with the heavyweights HDFC twins. Traders are advised to look for

such thematic opportunities and trade with proper risk

management.

Key Levels

Support 1 – 14750 Resistance 1 – 14900

Support 2 – 14700 Resistance2 – 15050

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Technical & Derivatives Report

March 31, 2021

Nifty Vs OI

13800

14000

14200

14400

14600

14800

15000

15200

15400

20,000

40,000

60,000

80,000

100,000

120,000

140,000

160,000

3/9 3/12 3/17 3/19 3/23 3/25

(`000)

Openinterest Nifty

View



We had a cheerful start for the week tad above

14600 post Friday’s strong upmove

. As the day

progressed, we witnessed follow-up buying any dips

was being bought and hence we concluded the day on

a strong note tad above 14800 mark with the gains over

two percent.



FIIs were net buyers in the cash segment to the tune

of Rs. 769 crores.



Nifty has started the April series with a low open

interest base and has added some long positions on

Friday. But surprisingly, despite yesterday’s strong

rally we hardly saw any fresh build-up. The Banking

index underperformed the benchmark but added

decent amount of longs. As we have been

mentioning, the BankNifty had huge short rollovers

and these positions are still intact in the system. In

options front, we saw good amount of writing in

14500-14800 put strikes; suggesting the immediate

support shiting higher to 14700-14800 now. On the

other side, we saw some build-up in OTM call strikes;

but the quantum wasn’t significant. The open interest

concentration in 15000 call hints resistance is now

placed around 15000-15050.

mme



The Nifty futures open interest remains unchanged.

Bank Nifty futures open interest has increased by 5.95%

as market closed at 14845.10 levels.



The Nifty April future closed with a premium of point

64.45 against a premium of 101.20 point in last trading

session. The May series closed at a premium of 107.35

point.



The INDIA VIX remains unchanged at 20.65.

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

1.14 to 1.32.



Few of the liquid counters where we have seen high cost

of carry are NAUKRI, IDEA, PFC, BANKBARODA and

HDFCAMC.

OI Gainers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

GAIL 48190000 91.47 132.35 0.64

NAUKRI 1427250 48.79 4158.65 -6.40

TATACONSUM 15792300 42.48 628.90 -0.23

MINDTREE 1959200 34.56 2130.05 6.76

TVSMOTOR 3540600 32.13 575.20 -0.65

PFC 38427600 23.59 111.10 -2.78

POWERGRID 17520000 23.14 221.35 3.48

RECLTD 18300000 22.44 128.55 -2.38

OI Losers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

IBULHSGFIN 30166100 0.38 196.05 -1.10

BALKRISIND 1731200 0.46 1658.05 0.34

SUNTV 12063000 0.47 463.85 2.11

DRREDDY 3271000 0.50 4518.20 2.46

AUROPHARMA 8616400 0.69 870.40 2.21

ADANIPORTS 59345000 1.11 710.50 1.17

MRF 42060 1.13 83186.20 1.19

SUNPHARMA 41907600 1.13 597.70 1.74

Put-Call Ratio

SCRIP PCR-OI PCR-VOL

NIFTY 1.32 0.83

BANKNIFTY 0.95 0.81

RELIANCE 0.60 0.42

ICICIBANK 0.68 0.43

INFY 0.61 0.40

Historical Volatility

SCRIP HV

MINDTREE 54.00

NAUKRI 57.93

UPL 57.26

HDFCBANK 38.98

HINDUNILVR 33.43

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Technical & Derivatives Report

March 31, 2021

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

Nifty Spot =

14845.10

FII Statistics for March 26, 2021

Detail Buy

Net Contracts

Open Interest

Sell

Value

(in Cr.)

Change

INDEX

FUTURES

6398.84

4519.05

1879.79

111491

11505.81

4.36

INDEX

OPTIONS

272377.69

272936.75

(559.06) 724605

74085.24

24.53

STOCK

FUTURES

12195.50

11477.33

718.17

1054276

89168.34

1.19

STOCK

OPTIONS

9798.68

10156.10

(357.42) 86598

7209.82

53.13

Total 300770.71

299089.23

1681.48

1976970

181969.21

10.62

Turnover on March 30, 2021

Instrum

ent

No. of

Contracts

Turnover

( in Cr. )

Change

(%)

Index Futures

3,95,991 38897.89 10.09

Index Options

2,69,30,036 26,15,278.51 33.78

Stock Futures

6,21,243 56467.49 1.15

Stock Options

9,35,864 86814.69 -12.19

Total 2,88,83,134 27,97,458.58 30.42

Bull-Call Spreads

Action Strike Price Risk Reward BEP

Buy 14800 408.00

59.00 41.00 14859.00

Sell 14900 349.00

Buy 14800 408.00

112.15 87.85 14912.15

Sell 15000 295.85

Buy 14900 349.00

53.15 46.85 14953.15

Sell 15000 295.85

Bear-Put Spreads

Action Strike Price Risk Reward BEP

Buy 14800 292.90

40.45 59.55 14759.55

Sell 14700 252.45

Buy 14800 292.90

73.50 126.50 14726.50

Sell 14600 219.40

Buy 14700 252.45

33.05 66.95 14666.95

Sell 14600 219.40

Nifty Put-Call Analysis

500,000

1000,000

1500,000

2000,000

2500,000

3000,000

3500,000

14000 14100 14200 14300 14400 14500 14600 14700 14800 14900 15000 15100 15200 15300

Call Put

Note

FIIs data for 30

2021 is yet to be pulished by NSE

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Technical & Derivatives Report

March 31, 2021

ily

Pivot Level

s for

Nifty Constituents

Scrips

PIVOT

ADANIPORTS

688

699

709

720

729

ASIANPAINT 2,499 2,539

2,561

2,601

2,623

AXISBANK

678

686

700

709

722

BAJAJ-AUTO 3,548 3,607

3,641

3,701

3,734

BAJFINANCE 5,091 5,142

5,201

5,252

5,311

BAJAJFINSV 9,324 9,413

9,529

9,618

9,734

BPCL

416

424

429

436

441

BHARTIARTL

510

516

522

528

534

BRITANNIA 3,469 3,542

3,584

3,657

3,699

CIPLA

780

796

806

822

832

COALINDIA

128

131

133

135

137

DIVISLAB 3,435 3,510

3,555

3,629

3,675

DRREDDY 4,383 4,450

4,489

4,557

4,595

EICHERMOT 2,526 2,583

2,618

2,675

2,711

GAIL

127

130

133

136

140

GRASIM 1,374 1,398

1,420

1,444

1,466

HCLTECH

951

973

987

1,010

1,023

HDFCBANK 1,478 1,516

1,539

1,577

1,600

HDFCLIFE

667

677

685

696

704

HDFC 2,531 2,568

2,593

2,630

2,654

HEROMOTOCO 2,893 2,928

2,952

2,988

3,012

HINDALCO

320

323

328

331

336

HINDUNILVR 2,296 2,347

2,377

2,428

2,458

ICICIBANK

578

585

589

596

600

IOC

INDUSINDBK

941

951

965

975

988

INFY 1,310 1,348

1,374

1,411

1,438

ITC

209

212

213

216

218

JSW STEEL

445

456

463

474

481

KOTAKBANK 1,759 1,770

1,786

1,797

1,813

LT 1,383 1,403

1,416

1,436

1,448

M&M

772

783

795

806

817

MARUTI 6,687 6,770

6,822

6,905

6,957

NESTLEIND 16,366

16,765

17,010

17,409

17,653

NTPC

103

105

107

109

111

ONGC

100

102

104

106

108

POWERGRID

212

217

220

225

228

RELIANCE 1,966 1,998

2,023

2,055

2,081

SBILIFE

861

866

874

879

887

SHREECEM 27,767

28,431

28,965

29,629

30,164

SBIN

352

357

360

365

368

SUNPHARMA

583

590

595

602

606

TCS 3,008 3,083

3,136

3,211

3,264

TATAMOTORS

288

293

297

301

306

TATASTEEL

764

782

796

814

828

TECHM

981

999

1,009

1,027

1,038

TITAN 1,489 1,520

1,542

1,573

1,595

ULTRACEMCO 6,673 6,729

6,802

6,858

6,931

UPL

574

601

618

645

662

WIPRO

399

409

415

424

430

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Technical & Derivatives Report

March 31, 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