September 06, 2021
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Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook - (36761)
On Friday, Bank Nifty started on a flat to positive note and made an
attempt to sustain above the 37000 levels. However, this attempt
once again got failed and the bank index eventually ended the
session with minor loss at 36761. Even though the bank index ended
with handsome gains during the week and managed to close above
the recent hurdle of 36200 - 36300 the follow up move post
breakout is missing. Now in the last few sessions, we have seen
37000 - 37300 acting as a resistance. Going ahead, we sense the
previous resistance around 36000 - 36300 will now act as support
whereas 37000 - 37300 may continue to act as resistance. As long
the bank nifty holds in this range one should continue with stock
specific approach and a momentum move can only be expected on a
breakout from this range.
Key Levels
Support 1 – 36300
Resistance 1 – 37000
Support 2 – 36000
Resistance 2 – 37300
Exhibit 2: Nifty Bank Daily Chart
To be on the safer side, we advise traders to keep booking profits in
the rally and avoid taking aggressive longs for a while. Yes, momentum
traders can still continue with their stock specific trades; but needs to
follow strict stop losses and booking timely profit is advocated. As far
as levels are concerned, 17400 – 17500 are to be considered
immediate hurdles; where we would certainly avoid being complacent.
On the flipside, 17200 – 17050 are to be seen as key supports for this
week. The first sign of weakness would start below 17000 after which
the crucial make or break support zone of 16700 – 16600 would be
tested.
Key Levels
Support 1 – 17200
Resistance 1 – 17400
Support 2 – 17050
Resistance 2 – 17500
Sensex (58130) / Nifty (17324)
During the last week, we had a bumper opening on Monday at new
record highs citing to cheerful mood across the globe. This head start
certainly set up the tone for the entire week as markets didn’t look back
from thereon. Everyday our benchmark index was making new high and
in the process even reached the millstone of 17000. In fact it didn’t stop
there as we witnessed a continuation of the upward trajectory in last
couple of sessions; courtesy to stellar comeback from heavyweight
RELIANCE who single-handedly propelled Nifty beyond 17300.
Eventually, it happened to be yet another spectacular week for our
markets as the bulls added another 3.70% to their kitty.
Nifty has been enjoying a strong Bull Run since last 16 – 17 months and
in last few weeks also, it gave some mesmerizing moves. Although the
recent momentum has been exceptionally strong, we can see some
extreme levels in benchmark index now. If we take a broader view, we
can see Nifty reaching the 200% ‘Fibonacci Retracement’ of the last
year’s massive decline from Jan’20 high to March’20 low. Also time-
wise, Nifty has entered 7th zone as per ‘Fibonacci Time Series’ on the
monthly time frame chart. We do not want to sound pessimistic but
since couple of important key ratios are coinciding at current juncture; it
will be unfair to overlook them.
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September 06, 2021
Nifty Vs OI
View
The opening on the weekly expiry was slightly positive.
As we progressed, post some consolidation index
regained strength to surpass 17200 and then hits fresh
record highs of 17245.50.
FIIs were net buyers in cash market segment to the tune
of Rs. 349 crores. In index futures, they bought to the
tune of Rs. 1228 crores with fall in open interest
suggesting short covering in yesterday’s session.
In F&O space, Nifty added fresh longs whereas, short
covering was observed in banking index. In index
options segment, we saw good amount of writing in
17150-17200 puts. On the other side, good amount of
unwinding was seen in 17100-17500 calls except for
17250 strike which added fresh positions. FIIs too
continued adding longs in equites and stock futures;
while, short coverering was seen index futures.
Considering the above data point, we maintain our
optimistic stance on market.
Comments
The Nifty futures open interest has increased by 4.01%.
Bank Nifty futures open interest has decreased by 3.55%
as market closed at 17234.15 levels.
The Nifty September future closed with a premium of
22.75 point against a premium of 20.70 point in last
trading session. The October series closed at a premium
of 36.90 point.
The INDIA VIX increased from 14.18 to 14.24. At the
same time, the PCR-OI of Nifty has increased from 1.17
to 1.32.
Few of the liquid counters where we have seen high cost
of carry are IDEA, BATAINDIA, AMBUJACEM,
KOTAKBANK and BHARATFORG.
OI Gainers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
AARTIIND
3359200
22.92
920.70
0.40
IDEA
528920000
20.01
7.15
17.89
COFORGE
853600
13.87
5157.95
0.03
EXIDEIND
32540400
12.65
178.20
4.89
ICICIPRULI
7231500
12.17
676.10
2.82
CONCOR
7868142
11.69
735.70
7.02
UBL
1820000
11.06
1563.35
1.00
ESCORTS
7195100
11.01
1311.35
-2.91
OI Losers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
DLF
40580100
-6.23
338.90
1.82
BHARTIARTL
74935884
-6.07
666.50
-0.03
VOLTAS
3211500
-5.68
1085.35
3.54
SHREECEM
185225
-3.49
30321.90
6.41
APOLLOHOSP
2125500
-3.02
5043.50
0.24
HINDALCO
34920300
-2.84
456.95
0.00
CIPLA
11417900
-2.64
955.20
3.50
AUROPHARMA
15863250
-2.63
746.85
1.94
Put-Call Ratio
SCRIP
PCR-OI
PCR-VOL
NIFTY
1.32
0.91
BANKNIFTY
1.16
0.95
RELIANCE
0.48
0.32
ICICIBANK
0.55
0.43
INFY
0.53
0.29
Historical Volatility
SCRIP
HV
SHREECEM
39.07
IDEA
106.18
HDFCLIFE
38.51
CONCOR
47.30
EXIDEIND
34.08
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Technical & Derivatives Report
September 06, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot = 17234.15
FII Statistics for September 02, 2021
Detail
Buy
Net
Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
3825.56
2597.10
1228.46
171395
14975.32
(1.12)
INDEX
OPTIONS
667319.47
670700.51
(3381.04)
1079032
93951.43
(34.36)
STOCK
FUTURES
12857.23
12395.30
461.93
1448054
123027.23
0.32
STOCK
OPTIONS
15191.82
15178.44
13.38
197766
17121.35
6.84
Total
699194.08
700871.35
(1677.27)
2896247
249075.33
(15.95)
Turnover on September 03, 2021
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
2,90,486
25969.46
29.39
Index Options
4,01,21,163
36,12,327.60
-64.44
Stock Futures
8,03,484
66017.59
11.34
Stock Options
30,10,984
2,48,569.74
17.34
Total
4,42,26,117
39,52,884.39
-62.17
Bull-Call Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17200
244.30
54.15
45.85
17254.15
Sell
17300
190.15
Buy
17200
244.30
98.75
101.25
17298.75
Sell
17400
145.55
Buy
17300
190.15
44.60
55.40
17344.60
Sell
17400
145.55
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17200
199.95
41.35
58.65
17158.65
Sell
17100
158.60
Buy
17200
199.95
73.80
126.20
17126.20
Sell
17000
126.15
Buy
17100
158.60
32.45
67.55
17067.55
Sell
17000
126.15
Nifty Put-Call Analysis
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September 06, 2021
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
737
746
754
763
771
ASIANPAINT
3,265
3,302
3,323
3,360
3,382
AXISBANK
776
787
799
809
821
BAJAJ-AUTO
3,680
3,719
3,764
3,803
3,849
BAJFINANCE
7,420
7,472
7,513
7,565
7,607
BAJAJFINSV
16,418
16,576
16,718
16,876
17,018
BPCL
475
483
489
497
502
BHARTIARTL
645
652
661
667
676
BRITANNIA
4,049
4,087
4,111
4,148
4,172
CIPLA
913
927
945
959
977
COALINDIA
140
143
145
148
150
DIVISLAB
5,075
5,142
5,203
5,270
5,331
DRREDDY
4,843
4,871
4,890
4,918
4,937
EICHERMOT
2,647
2,725
2,791
2,869
2,935
GRASIM
1,480
1,495
1,508
1,523
1,535
HCLTECH
1,149
1,162
1,171
1,184
1,194
HDFCBANK
1,551
1,564
1,581
1,593
1,610
HDFCLIFE
716
725
736
746
757
HDFC
2,720
2,739
2,762
2,781
2,804
HEROMOTOCO
2,700
2,750
2,782
2,832
2,864
HINDALCO
444
453
459
467
473
HINDUNILVR
2,724
2,746
2,777
2,798
2,830
ICICIBANK
715
720
726
730
736
IOC
109
111
112
114
116
INDUSINDBK
978
991
1,010
1,023
1,042
INFY
1,675
1,688
1,697
1,710
1,719
ITC
209
210
211
211
212
JSW STEEL
677
684
690
697
702
KOTAKBANK
1,760
1,776
1,794
1,810
1,828
LT
1,657
1,674
1,689
1,707
1,722
M&M
739
744
751
756
763
MARUTI
6,651
6,757
6,858
6,964
7,064
NESTLEIND
19,995
20,131
20,237
20,373
20,479
NTPC
116
116
117
118
119
ONGC
117
120
122
125
127
POWERGRID
173
174
176
177
178
RELIANCE
2,270
2,329
2,362
2,422
2,455
SBILIFE
1,214
1,229
1,241
1,257
1,269
SHREECEM
29,703
30,072
30,331
30,700
30,960
SBIN
425
428
431
434
437
SUNPHARMA
777
783
790
796
803
TCS
3,782
3,812
3,835
3,864
3,887
TATACONSUM
857
863
869
875
880
TATAMOTORS
290
293
295
297
299
TATASTEEL
1,401
1,422
1,438
1,459
1,474
TECHM
1,414
1,428
1,439
1,453
1,464
TITAN
1,950
1,985
2,005
2,039
2,059
ULTRACEMCO
7,786
7,858
7,944
8,016
8,101
UPL
740
747
753
760
766
WIPRO
647
651
654
658
661
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Technical & Derivatives Report
September 06, 2021
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Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelone.in
For Derivatives Queries E-mail: derivatives.desk@angelbroking.com
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