Aug 02, 2022
www.angelone.in
Technical & Derivatives Report
OOOOOOOO
Nifty Bank Outlook - (37903)
The BANKNIFTY too started the day on a positive note in tandem with
benchmark. After stabilising from the initial mix-up, the banking index
resumed its northward journey. It wasn’t the similar kind of
flamboyant session for this high beta space, but slowly and steadily, it
certainly kept moving higher to conclude at 37900 by adding another
percent to the Friday’s close.
We can now see this index reaching it’s cluster of resistance around
37900-37950 which almost coincides with the psychological barrier of
38000 as well. Hence, from hereon if we have to see next leg of the
rally getting unfolded, the BANKNIFTY needs to surpass 38000 with
some authority. In this case, 38500 38800 can be retested soon.
However, considering the recent run up, we may have a muted session
for the banking stocks in coming session. In our sense, if we see any
gap up today, the possibility of some profit booking cannot be ruled
out. Hence, traders are advised not to initiate aggressive long in case
of a positive opening in the coming session. By saying this, we do not
mean the trend is going to change completely, rather it should be
construed as a small profit taking after a strong one way rally. The
undertone remains strongly bullish and one should continue with a
buy on decline strategy.
Key Levels
Support 1 – 37590 Resistance 1 – 38150
Support 2 – 37400 Resistance 2 – 38500
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank
Daily
Chart
Sensex (58115) / Nifty (17340)
We have witnessed a promising start for the new week, wherein the
initial hiccup got decisively bought into by the bulls, and the uptrend
continued. The optimism across the global bourses has spread
buoyancy to our market, resulting in broad-based buying interest. The
benchmark index Nifty50 surged upwards for the fourth consecutive
session to reclaim the 17300 level by procuring over a percent gain.
The bulls have taken complete control of the market, which is quite
evident on the technical chart with its higher highs – higher lows
formation. The outburst seen after the breach of the 16800 zone
depicts the impeccable strength of the bulls when the scenario turns
favorable. But also, in the meantime, one should not rule out the factor
of profit booking as the Nifty heads towards the crucial resistance gap
of the 17450 odd zone. Hence, it is advisable to monitor the profits and
regularly trail them for better returns. On the flip side, 17200 is
expected to cushion any minor correction, while the unfilled gap
around the 17000 mark holds the sacrosanct support zone for the
index.
Key Levels
Support 1 – 17200 Resistance 1 – 17450
Support 2 – 17000 Resistance 2 – 17600
There have been contributions across the board, wherein the
significant benefactors that boosted the bullish sentiments were
from the Auto and Banking space. Looking at the recent
development, the undertone is likely to remain upbeat,
with significant traction seen outside the indices. Hence it is
advisable to keep Identifying apt themes and potential movers
within the same, which are likely to provide better trading
opportunities. Meanwhile, staying abreast with the global market is
advisable.
www.angelone.in
Technical & Derivatives Report
Aug 02, 2022
View
Our market has started the week on a strong note,
wherein the bulls got adamant as any minor dip was
bought into. The benchmark index Nifty50 surged more
than a percent to settle above the 17300 level.
FIIs were net buyers in the cash market segment to
the tune of Rs. 2320 crores. Simultaneously, in Index
futures, they bought worth Rs. 2095 crores with an
increase in open interest, indicating long formation.
The benchmark index continues to inch higher with
addition of decent positions in both Nifty as well as
BankNifty. Stronger hands too participated by addition
bullish bets not only in equities but also in index
futures segment. Now, their index futures ‘Long Short
Ratio’ has surged to 67%, which clearly hints they have
majority of longs in system. In options front, we saw
massive writing in 17200 puts due to which the base
has shifted higher to 17100-17200 now. On the contrary,
some build-up was observed in 17400 and 17500. The
data remains strong, but certainly the risk-reward at
current levels is not favorable specifically of index
trade. Hence, we would advise to keep booking profit
in index and opt for stock specific trades.
Comments
The Nifty futures open interest has increased by
13.95%. and BANK Nifty futures open interest has
increased by 11.02% as the market closed at 17340.05.
The Nifty Aug future closed with a premium of 38.25
point against a premium of 43.60 point in the last
trading session. The Sep series closed at a premium
of 101.05 point.
The INDIA VIX increased from 16.55 to 17.48. At the
same time, the PCR-OI of Nifty has increased from
1.36 to 1.49.
Few of the liquid counters where we have seen high
cost of carry are IDEA, UPL, PNB, ABB and
INDHOTEL.
Historical Volatility
SCRIP HV
IDFCFIRSTB 52.11
M&M 39.36
PNB 50.71
RAIN 62.99
MCX 47.37
Nifty Vs OI
15600
15800
16000
16200
16400
16600
16800
17000
17200
17400
17600
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
7/14 7/18 7/20 7/22 7/26 7/28 7/1
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CHAMBLFERT 6811500 22.53 335.65 4.14
BOSCHLTD 151450 19.91 17648.80 3.12
VOLTAS 4030500 19.14 999.25 -0.52
IOC 71019000 16.08 71.10 -2.61
ABBOTINDIA 43400 13.85 20543.30 2.55
SYNGENE 1745000 12.51 574.90 0.56
UPL 23396100 11.75 767.40 3.81
AARTIIND 3479900 11.71 802.25 3.07
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
GUJGASLTD 3253750 -10.58 469.25 5.45
PNB 196672000 -10.36 33.40 7.00
NAM-INDIA 2163200 -9.93 281.00 1.75
BANKBARODA 97303050 -8.25 116.30 -0.26
HINDALCO 28381075 -8.18 424.00 2.13
CHOLAFIN 8177500 -7.91 733.85 4.64
RELIANCE 33962250 -4.74 2574.85 2.28
TVSMOTOR 8806000 -4.64 926.65 1.90
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.49 0.91
BANKNIFTY 1.26 0.92
RELIANCE 0.64 0.34
ICICIBANK 0.80 0.50
INFY 0.76 0.50
www.angelone.in
Technical & Derivatives Report
Aug 02, 2022
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Aug Series) are given as an information and not as a recommendation.
Nifty Spot =
17,
340.05
FII Statistics for
August
01
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
5105.27 3010.29 2094.98
154851 13809.11 21.13
INDEX
OPTIONS
561275.24 561943.72 (668.48) 1265132 112336.02 10.33
STOCK
FUTURES
12599.97 12003.10 596.87
2126262 144904.10 (0.26)
STOCK
OPTIONS
7212.25 7283.51 (71.26) 78114 5462.94 17.14
Total 586192.73
584240.62
1952.11
3624359
276512.17
4.36
Turnover on
August
01
, 2022
Instrument
No. of
Contracts
Turnov
er
( in Cr.
)
Change
(%)
Index Futures
307441 27626.45 -13.34
Index Options
77495669 6994798.25 4.54
Stock Futures
914580 63910.87 -11.68
Stock Options
3321152 242680.74 -1.94
Total
3,321,152 242680.74 4.07
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
17300 131.65
51.95
48.05
17351.95
Sell
17400 79.70
Buy
17300 131.65
88.25
111.75
17388.25
Sell
17500 43.40
Buy
17400 79.70
36.30 63.70 17436.30
Sell
17500 43.40
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 17300 86.85
33.70
66.30
17266.30
Sell
17200 53.15
Buy 17300 86.85
53.95
146.05
17246.05
Sell 17100 32.90
Buy
17200 53.15
20.25 79.75 17179.75
Sell
17100 32.90
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
16700 16800 16900 17000 17100 17200 17300 17400 17500 17600 17700 17800 17900 18000
Call Put
www.angelone.in
Technical & Derivatives Report
Aug 02, 2022
`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIPORTS
751
776
790
815
829
APOLLOHOSP
4,154
4,221
4,257 4,325
4,361
ASIANPAINT
3,291
3,308
3,331
3,348
3,372
AXISBANK
716
723
728
735
740
BAJAJ-AUTO 3,886 3,929
3,959
4,003
4,032
BAJFINANCE
7,136
7,199
7,254 7,317
7,372
BAJAJFINSV
14,766
14,919
15,085
15,238
15,404
BPCL
325
330
332
337
340
BHARTIARTL 669 682
690
702
711
BRITANNIA
3,792
3,824
3,870 3,902
3,948
CIPLA
965
985
1,008
1,028
1,051
COALINDIA
208
210
212
214
216
DIVISLAB
3,737
3,766
3,812
3,841
3,887
DRREDDY 4,078 4,094
4,117
4,133
4,156
EICHERMOT 3,009 3,049
3,112 3,152
3,215
GRASIM
1,543
1,556
1,573
1,585
1,602
HCLTECH
940
946
951
957
963
HDFCBANK
1,423
1,435
1,442
1,453
1,460
HDFCLIFE
534
540
550
556
566
HDFC 2,346 2,365
2,381
2,400
2,416
HEROMOTOCO
2,768
2,805
2,856 2,893
2,944
HINDALCO 414 419
424
428
433
HINDUNILVR 2,546 2,569
2,604
2,627
2,662
ICICIBANK 814 819
822
827
830
INDUSINDBK 1,014 1,027
1,038
1,051
1,061
INFY
1,525
1,538
1,551
1,564
1,577
ITC 301 304
306
310
312
JSW STEEL 623 631
636
644
649
KOTAKBANK
1,793
1,825
1,843
1,875
1,893
LT
1,780
1,797
1,808
1,825
1,835
M&M 1,159 1,198
1,224
1,263
1,288
MARUTI 8,708 8,856
8,970 9,118
9,233
NESTLEIND
18,892
19,073
19,287
19,468
19,682
NTPC 148 152
155
159
162
ONGC
131
135
137
141 143
POWERGRID
212
215
218
221
224
RELIANCE
2,477
2,526
2,557
2,606
2,637
SBILIFE
1,276
1,295
1,306
1,325
1,336
SHREECEM 20,392 20,670
20,827 21,105
21,263
SBIN
523
528
532
537
540
SUNPHARMA
893
906
923
936
953
TCS 3,243 3,271
3,299
3,327
3,355
TATACONSUM
793 802
808
817
823
TATAMOTORS
440
460
470
490
500
TATASTEEL 103 106
109
111
114
TECHM
1,028
1,039
1,049
1,060
1,070
TITAN
2,323
2,350
2,365
2,392
2,407
ULTRACEMCO
6,523
6,590
6,627
6,694
6,731
UPL
728
747
764
784
800
WIPRO 419 424
428
432
436
www.angelone.in
Technical & Derivatives Report
Aug 02, 2022
*
Technical and Derivatives Team:
Sameet Chavan Chief Analyst – Technical & Derivatives sameet.chavan@angelone.in
Sneha Seth Senior Analyst – Technical & Derivatives sneha.seth@angelone.in
Rajesh Bhosale Technical Analyst raje[email protected]angelone.in
Osho Krishan Senior Analyst – Technical & Derivatives osho.krishan@angelone.in
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelone.in
For Technical Queries E-mail: technicalresearch-c[email protected]gelone.in
For Derivatives Queries E-mail: derivatives.d[email protected]one.in
DISCLAIMER
Angel One 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 advisor with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel One
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.
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.
Angel or its associates or research analyst or his relative may have actual/beneficial ownership of 1% or more in the securities of
the subject company at the end of the month immediately preceding the date of publication of the research report. Neither Angel or
its associates nor Research Analysts or his relative has any material conflict of interest at the time of publication of research report.
Angel or its associates might have received any compensation from the companies mentioned in the report during the period
preceding twelve months from the date of this report for services in respect of managing or co-managing public offerings, corporate
finance, investment banking or merchant banking, brokerage services or other advisory service in a merger or specific transaction
in the normal course of business. Angel or its associates did not receive any compensation or other benefits from the companies
mentioned in the report or third party in connection with the research report. Neither Angel nor its research analyst entity has been
engaged in market making activity for the subject company.
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 One 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 One
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
One 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.
Neither Angel One Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information. Angel or its associates or Research Analyst or his relative might have financial interest
in the subject company. Research analyst has not served as an officer, director or employee of the subject company.