Aug 04, 2022
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Technical & Derivatives Report
OOOOOOOO
Nifty Bank Outlook (37989)
Once again the BANKNIFTY had a sluggish start in tandem with
benchmark. Unlike Nifty, the banking index kept sulking for the major
part of the session. During the first half, it remained under pressure
and in the latter one, we saw some modest recovery to conclude tad
below the 38000 mark.
The benchmark Nifty had other components to pull it higher;
meanwhile the banking space looked a bit nervous. For the coming
session, 38200 followed by 38500 remains a sturdy wall and as of now
there are no indication of it surpassing the same on the expiry day.
Hence, traders are advised to take some money off the table at higher
levels. On the flipside, 37850 and 37700 are to be seen as immediate
supports.
Key Levels
Support 1 – 37850 Resistance 1 – 38200
Support 2 – 37700 Resistance 2 – 38500
Exhibit 2: Nifty Bank
Daily
Chart
Sensex (58351) / Nifty (17388)
Our market has seen a mild start tracking the mixed global cues and
followed a sluggish move for most of the trading session. The
benchmark index witnessed a lackluster day of trade until the fag end
buying interest boosted the sentiments and soared the index to test
the 17400 odd zone. With all such actions, the index maintained its
positive stature for the sixth consecutive session and concluded the day
a tad below 17400 levels by procuring another 0.25 percent.
Technically, the index continued its northwards journey with a smart
recovery from the intraday dip that augurs well for the bulls of D-Street.
However, the hint of tentativeness at higher levels should not be
overlooked at all. On the technical front, 17450-17500 still holds the
sturdy wall for the bulls, and a decisive closure above the same could
only trigger fresh longs in the system. Meanwhile, any dip towards the
17200 zone is likely to get bought into, while the sacrosanct support
lies around the unfilled gap and psychological mark of the 17000.
Hence, looking at index placements and the recent price action that
construes the undertone to favor the bulls, participants are advised to
avoid aggressive bets and stay abreast with global and domestic
developments. Also, we advocate continuing with a stock-centric
approach for better trading opportunities.
Key Levels
Support 1 – 17200 Resistance 1 – 17450
Support 2 – 17000 Resistance 2 – 17500
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On Wednesday, we had a soft opening which was then
followed by some profit booking to drag index towards
17200. Like the previous session, fresh buying
emerged at the lower levels to not only recoup all the
losses but also close on the positive note. Eventually,
we settled the day at the highest point around 17400
with the gains of three tenth of the percent.
FIIs were net buyers in the cash market segment to
the tune of Rs. 765 crores. Simultaneously, in Index
futures, they sold worth Rs. 575 crores with a
decrease in open interest, indicating long unwinding.
As far as derivatives segment is concerned, we saw
mixed activity in both the key indices in last three
sessions; wherein majority of them were on long side.
Stronger hands continued to pump in liquidity in
equities but preferred exiting long from index futures
segment. On index options front, we saw some fresh
build-up in 17400-17600 call options. On the contrary,
some unwinding was observed in 16200 but as market
rebounded in the final hour, meaningful shorts got
added in 17300 put strike. Despite this, we still remain
a bit skeptical of this last hour surge and hence, would
like to observe the overall developments in today’s
session. As of now, traders are advised not to get
carried away and should avoid aggressive bets in key
indices.
Comments
The Nifty futures open interest has decreased by
3.93%. and BANK Nifty futures open interest has
increased by 0.70% as the market closed at 17388.15.
The Nifty Aug future closed with a premium of 19.00
point against a premium of 0.85 point in the last
trading session. The Sep series closed at a premium
of 82.55 point.
The INDIA VIX decreased from 18.53 to 18.48. At the
same time, the PCR-OI of Nifty has decreased from
1.38 to 1.28.
Few of the liquid counters where we have seen high
cost of carry are IDEA, UPL, PNB, ABB and
INDHOTEL.
Historical Volatility
SCRIP HV
SIEMENS 35.39
INDUSTOWER 51.59
ALKEM 29.66
NAM-INDIA 44.71
CONCOR 42.32
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. (%)
INDUSTOWER 17729600 33.19 206.45 -6.18
ALKEM 344000 31.40 3105.90 -3.38
CHAMBLFERT 8224500 16.56 320.45 -3.18
BOSCHLTD 197950 14.36 17299.75 -2.99
SYNGENE 2605000 14.30 557.75 -0.88
DALBHARAT 1178000 13.54 1547.30 -2.11
NAM-INDIA 2454400 11.32 298.75 4.24
EICHERMOT 3875550 10.91 3138.20 0.43
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
SIEMENS 1900800 -8.81 2614.60 -4.75
PERSISTENT 605850 -8.20 3721.75 2.70
POWERGRID 45643500 -7.19 223.60 0.45
MFSL 1519050 -6.82 828.45 -2.40
VOLTAS 4079500 -6.47 982.20 -1.82
FSL 21668400 -5.66 103.65 -0.67
MRF 71300 -5.45 88737.45 0.79
AARTIIND 3291200 -4.84 810.70 -0.02
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.28 0.91
BANKNIFTY 1.04 0.95
RELIANCE 0.60 0.42
ICICIBANK 0.74 0.49
INFY 0.78 0.41
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Technical & Derivatives Report
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (Aug Series) are given as an information and not as a recommendation.
Nifty Spot =
17,
388.15
FII Statistics for
August
0
3
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
2843.08 3418.55 (575.47) 135933 12210.56 (3.03)
INDEX
OPTIONS
1042656.96 1046418.09 (3761.13) 1329613 118871.48 2.80
STOCK
FUTURES
11035.81 12003.13 (967.32) 2131729 145033.31 0.17
STOCK
OPTIONS
7984.16 7885.52 98.64
96155 6677.27 6.30
Total 1064520.01
1069725.29
(5205.28) 3693430
282792.62
1.13
Turnover on
August
0
3
, 2022
Instrument
No. of
Contracts
Turnov
er
( in Cr.
)
Change
(%)
Index Futures
364538 32837.06 -14.49
Index Options
135617560 12325757.01 12.51
Stock Futures
855666 57979.08 -8.54
Stock Options
3051777 215465.30 -10.91
Total
3,051,777 215465.30 11.80
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
17300 346.05
57.35
42.65
17357.35
Sell
17400 288.70
Buy
17300 346.05
110.35
89.65
17410.35
Sell
17500 235.70
Buy
17400 288.70
53.00 47.00 17453.00
Sell
17500 235.70
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 17300 239.75
36.25
63.75
17263.75
Sell
17200 203.50
Buy 17300 239.75
68.65
131.35
17231.35
Sell 17100 171.10
Buy
17200 203.50
32.40 67.60 17167.60
Sell
17100 171.10
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
16700 16800 16900 17000 17100 17200 17300 17400 17500 17600 17700 17800 17900 18000
Call Put
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`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIPORTS
790
798
804
813 819
APOLLOHOSP
4,219
4,265
4,326 4,371
4,432
ASIANPAINT 3,343 3,391
3,420 3,468 3,496
AXISBANK
721
726
732
737
743
BAJAJ-AUTO 3,945 3,974
3,992
4,021
4,039
BAJFINANCE
7,139
7,217
7,297
7,376
7,455
BAJAJFINSV
15,010
15,127
15,232
15,349
15,455
BPCL 327 330
334
337 341
BHARTIARTL
682
688
692
698
702
BRITANNIA
3,696
3,733
3,763
3,800
3,830
CIPLA
991
1,001
1,015
1,026
1,039
COALINDIA
206
209
212
215
218
DIVISLAB 3,738 3,779
3,822 3,863 3,906
DRREDDY
4,016
4,056
4,080
4,120
4,144
EICHERMOT
3,027
3,083
3,126
3,182
3,226
GRASIM
1,549
1,568
1,586
1,605
1,623
HCLTECH
945
951
956
963
968
HDFCBANK 1,410 1,422
1,429
1,441
1,448
HDFCLIFE
520
528
534
542
548
HDFC
2,307
2,338
2,356
2,387
2,405
HEROMOTOCO
2,728
2,765
2,786
2,823
2,845
HINDALCO
403
408
415 421
428
HINDUNILVR
2,563
2,595
2,629
2,661
2,696
ICICIBANK
805
815
821 831
838
INDUSINDBK
1,042
1,050
1,060
1,068
1,078
INFY
1,529
1,547
1,559
1,577
1,589
ITC
300
304
308
311 315
JSW STEEL 637 645
653
661
669
KOTAKBANK 1,817 1,834
1,857
1,874
1,897
LT
1,758
1,774
1,789
1,805
1,820
M&M 1,219 1,236
1,248
1,265
1,277
MARUTI
8,697
8,828
8,987 9,118
9,276
NESTLEIND
18,824
19,095
19,321
19,591
19,817
NTPC
156
158
159
161
163
ONGC
131
133
136
138
141
POWERGRID 218 221
223
226
228
RELIANCE 2,552 2,579
2,595
2,622
2,637
SBILIFE
1,248
1,266
1,277
1,295
1,306
SHREECEM
20,571
20,764
21,027
21,220
21,483
SBIN
529
535
541 547
552
SUNPHARMA
879
888
903
912
927
TCS 3,250 3,295
3,322
3,367
3,394
TATACONSUM
796 804
810 818
824
TATAMOTORS 451 460
468
476
485
TATASTEEL 105 106
107
108
110
TECHM 1,012 1,033
1,045
1,065
1,077
TITAN 2,328 2,372
2,399
2,443 2,470
ULTRACEMCO 6,423 6,513
6,604 6,694 6,785
UPL 714 723
734
742
753
WIPRO
425
429
431 434
436
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Technical & Derivatives Report
Aug 04, 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 rajesh.bhosle@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-cso@angelone.in
For Derivatives Queries E-mail: derivatives.desk@angelone.in
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