December 03, 2021
www.angelone.in
Technical & Derivatives Report
Nifty Bank Outlook - (36508)
We had a slightly negative start for the weekly expiry day. Index
witnessed some hiccups to hit day’s lows below 35200 but recovered
to soon enter positive terrain. However, with no major action in the
remaining part of the day we concluded tad above 36500.
The banking index clearly looked reluctant showcase any excitement
despite the benchmark index showed a fabulous recovery to rally near
1.40%. If we consider the recent price action, this would look as a
normal practice. Hence, until we don’t see a sustainable move beyond
37000-37200 we would just avoid any aggressive bullish bets in this
space. Going ahead, 36000-37000 shall we the range and violation of
this in either direction shall dictate for future move; till then trader’s’
are advised to stay light specifically in BankNifty.
Key Levels
Support 1 – 36000 Resistance 1 – 37000
Support 2 – 35700 Resistance 2 – 37200
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (58461) / Nifty (17402)
US markets had a massive volatility during the previous night and
towards the end they took a nosedive from the day high. As a result of
this, yesterday early morning the SGX Nifty was first indicating a
massive gap down. But as we came closer to our opening point, the
global picture changed. Our markets started the day on a positive note;
courtesy to some relief in the global peers. In fact as the day
progressed, the buying momentum kept accelerating to conclude the
weekly expiry precisely at 17400 by adding nearly 1.40% to the previous
close.
The kind of price development we had in the previous session, the
possibility of some recovery was on cards. But honestly speaking, Nifty
has clearly over surpassed our expectations after extending the relief
move beyond 17350. Now looking at the individual stocks, we may see
Nifty heading towards 17500 – 17600; but we reiterate, markets are
not completely out of the woods yet and hence, it’s advisable to stay
light after nearing this zone. On the flipside, 17300 – 17200 are to be
seen as intraday supports.
For
today’s
session, if Nifty continues with the bounce back mode,
one can look to identify potential candidates that are trading at key
supports and are likely to provide good buying opportunity. But we
reiterate, our positional view remains bearish and hence, it’s
advisable to book intraday profits if Nifty enters the above
mentioned resistance zone.
Key Levels
Support 1 – 17300 Resistance 1 – 17500
Support 2 – 17200 Resistance 2 – 17600
www.angelone.in
Technical & Derivatives Report
December 03, 2021
View
On the weekly expiry day, Nifty started on a positive
note and post an immediate dip in the initial hour
started moving higher gradually throughout the
session. Eventually, the benchmark ended tad at
17400 with gains of 1.37%
FIIs were net sellers in the cash market segment to
the tune of Rs. 907 crores. In index futures, they
bought worth Rs. 153 crores with a marginal increase
in open interest.
Nifty witnessed some long formations in yesterday’s
upmove whereas there was marginal upmove in the
bank nifty due to short covering. Strong hands
continue to be sellers in the cash market whereas in
Index futures they were marginal buyers. With
yesterday’s upmove the call writers ran to cover
whereas now for the coming weekly series highest
build up is seen at 18000 call. Before that 17500 and
17700 call strikes aswell has a decent build up. On the
flip side, 17300 put have a good build up and highest
build up is at 17000 put. With the above data it seems,
this bounce may extend further however we are still
not out of woods and hence traders should avoid
aggressive bets.
Comments
The Nifty futures open interest has increased by 1.18%.
and BANK Nifty futures open interest has decreased by
3.78% as market closed at 17401.65 levels.
The Nifty December future closed with a premium of 31
point against a premium of 55 point in last trading
session. The January series closed at a premium of 83.4
point.
The INDIA VIX decreased from 19.44 to 18.09. At the
same time, the PCR-OI of Nifty has increased from 1.01
to 1.31.
Few of the liquid counters where we have seen high
cost of carry are IDEA, CONCOR, NAM-INDIA,
WHIRLPOOL, AND GAIL
Historical Volatility
SCRIP HV
GMRINFRA
52.46
HDFC
37.42
PERSISTENT
45.35
POWERGRID
35.05
ADANIPORTS
48.79
Nifty Vs OI
16400
16600
16800
17000
17200
17400
17600
17800
18000
18200
10,000
10,500
11,000
11,500
12,000
12,500
13,000
11-15 11-17 11-22 11-24 11-26 11-30 12-2
(`000)
Openinterest
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CROMPTON
1831500 35.92 433.70 -0.99
GUJGASLTD
2618750 26.20 686.65 3.66
MCX
1752450 17.42 1643.00 3.52
GMRINFRA
137655000 14.04 41.30 7.12
PERSISTENT
262200 11.05 4392.50 4.62
COFORGE
1052600 10.75 5413.95 1.87
POWERGRID
22510593 9.41 214.50 3.48
TORNTPOWER
3162000 9.11 562.05 2.27
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
MPHASIS
1968700 -9.49 3107.00 3.07
IBULHSGFIN
45442900 -6.25 256.40 2.57
COALINDIA
53600400 -6.04 159.30 2.24
GODREJPROP
3247725 -5.65 2020.75 2.32
CHAMBLFERT
2143500 -4.61 397.25 0.05
SBILIFE
7422750 -4.56 1188.05 1.98
TCS
11988450 -4.49 3642.80 1.75
APLLTD
1820850 -3.78 803.60 -1.36
Put-Call Ratio
SCRIP PCR-OI PCR-VOL
NIFTY
1.31 1.07
BANKNIFTY
0.95 0.89
RELIANCE
0.58 0.40
ICICIBANK
0.48 0.43
INFY
0.63 0.60
www.angelone.in
Technical & Derivatives Report
December 03, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (December Series) are given as an information and not as a recommendation.
Nifty Spot = 17401.65
FII Statistics for December 02, 2021
Detail Buy
Net Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3862.21 3708.76 153.45
184191 16229.93 0.76
INDEX
OPTIONS
979402.71 976896.27 2506.44
1265342 110930.05 (31.37)
STOCK
FUTURES
12627.15 12578.17 48.98
1861824 133969.23 0.62
STOCK
OPTIONS
9545.18 9391.18 154.00
196948 14544.92 4.15
Total
1005437.25
1002574.38
2862.87
3508305
275674.13
(13.71)
Turnover on December 02, 2021
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
315530 27903.39 -16.99
Index Options
144230638 12842719.36
74.04
Stock Futures
672552 50919.42 -8.38
Stock Options
1768237 138383.97 -8.18
Total
14,69,86,957 13059926.14
71.41
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
17400 196.85
-33.15 133.15 17366.85
Sell
17500 230.00
Buy
17400 196.85
-69.50 269.50 17330.50
Sell
17600 266.35
Buy
17500 230.00
-36.35 136.35 17463.65
Sell
17600 266.35
Bear-Put Spreads
Action Strike Price Risk Reward BEP
Buy
17400 266.35
36.35 63.65 17363.65
Sell
17300 230.00
Buy
17400 266.35
69.50 130.50 17330.50
Sell
17200 196.85
Buy
17300 230.00
33.15 66.85 17266.85
Sell
17200 196.85
Nifty Put-Call Analysis
,0
1000,000
2000,000
3000,000
4000,000
5000,000
6000,000
16700 16800 16900 17000 17100 17200 17300 17400 17500 17600 17700 17800 17900 18000
Call Put
www.angelone.in
Technical & Derivatives Report
December 03, 2021
`
Daily Pivot Levels for Nifty Constituents
Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 688 714
728 754 768
ASIANPAINT 3,134 3,157
3,176 3,199 3,217
AXISBANK 664 670
674 681 685
BAJAJ-AUTO 3,200 3,264
3,301 3,365 3,402
BAJFINANCE 6,950 7,065
7,138 7,253 7,325
BAJAJFINSV 17,024 17,391
17,641 18,008 18,257
BPCL 365 372
376 383 387
BHARTIARTL 706 719
727 741 749
BRITANNIA 3,495 3,537
3,572 3,614 3,649
CIPLA 905 913
926 934 946
COALINDIA 154 156
158 161 162
DIVISLAB 4,715 4,746
4,785 4,817 4,856
DRREDDY 4,587 4,625
4,647 4,685 4,707
EICHERMOT 2,411 2,431
2,447 2,468 2,484
GRASIM 1,639 1,682
1,716 1,758 1,792
HCLTECH 1,141 1,163
1,175 1,196 1,208
HDFCBANK 1,489 1,508
1,518 1,536 1,547
HDFCLIFE 689 697
702 710 715
HDFC 2,661 2,734
2,775 2,848 2,889
HEROMOTOCO 2,381 2,427
2,455 2,501 2,529
HINDALCO 416 424
429 437 442
HINDUNILVR 2,329 2,356
2,372 2,399 2,415
ICICIBANK 710 716
722 728 733
IOC 117 119
120 122 123
INDUSINDBK 916 931
940 955 965
INFY 1,698 1,723
1,737 1,762 1,776
ITC 219 222
224 227 229
JSW STEEL 624 635
642 653 660
KOTAKBANK 1,928 1,946
1,964 1,982 1,999
LT 1,751 1,770
1,782 1,801 1,813
M&M 823 836
848 861 873
MARUTI 7,199 7,262
7,309 7,372 7,418
NESTLEIND 19,037 19,270
19,460 19,693 19,883
NTPC 125 127
129 130 132
ONGC 139 141
143 146 147
POWERGRID 203 209
212 218 222
RELIANCE 2,446 2,464
2,480 2,499 2,515
SBILIFE 1,145 1,167
1,178 1,200 1,211
SHREECEM 25,624 25,957
26,353 26,686 27,082
SBIN 468 473
475 480 483
SUNPHARMA 736 751
761 776 786
TCS 3,548 3,595
3,622 3,669 3,696
TATACONSUM
755 764
773 782 790
TATAMOTORS 468 474
477 482 486
TATASTEEL 1,059 1,086
1,101 1,128 1,143
TECHM 1,562 1,596
1,614 1,648 1,667
TITAN 2,327 2,357
2,390 2,419 2,452
ULTRACEMCO 7,198 7,260
7,325 7,387 7,452
UPL 682 690
695 703 709
WIPRO 622 635
641 654 660
www.angelone.in
Technical & Derivatives Report
December 03, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelone.in
For Technical Queries E-mail: technicalresearch-cso@angelbroking.com
For Derivatives Queries E-mail: derivatives.desk@angelbroking.com
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.
Neither Angel Broking 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.
Technical and Derivatives Team:
Sameet Chavan Chief Analyst – Technical & Derivatives sameet.chavan@angelone.in
Rajesh Bhosale Technical Analyst rajesh.bhosle@angelone.in
Sneha Seth Derivatives Analyst sneha.seth@angelone.in
