September 07, 2021
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Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook - (36592)
We had a cheerful start for the week; but in absence of follow-up
buying the banking index witnessed some profit taking in the initial
two hours of trade. As we progressed, index made an attempt to
recovery in the midst but once again failed to hit fresh intraday low
of 36554.45 and then concluded the day with a cut of almost half a
percent. It’s the fourth consecutive session wherein the BankNifty has
been witnessing strong selling pressure as it approaches 36900-
37200 zone. But, this is certainly nothing new as we have been
observing such underperformance by this space since quite some
time despite the benchmark has been clocking fresh record highs
every day since last six trading sessions. As far as levels are
concerned, the immediate support zone is placed around 36400-
36500; whereas, 37000-37200 is the sturdy wall now. Until we don’t
see a strong move beyond this range, trades are advised focusing on
individual counters that has been showing strength.
Key Levels
Support 1 – 36500
Resistance 1 – 37000
Support 2 – 36400
Resistance 2 – 37200
Exhibit 2: Nifty Bank Daily Chart
Sensex (58297) / Nifty (17378)
Our markets had a pleasant start to the new week owing to favourable
global cues. In the course of action, Nifty reached yet another milestone
of 17400. However due to lack of follow up buying, the up move got
restricted for the day. Market didn’t correct either, in fact it remained in
a slender range of nearly 60 – 70 points throughout the remaining part
of the session.
There has been no stopping for benchmark index and every day we are
seeing new milestones being achieved. Before anyone could realise, we
have conquered 17400 as well. The rally has been steady in nature but
the kind of elevated levels we have reached now, it’s too fast too
furious. Hence, although the trend is extremely strong, we remain a bit
sceptical and continue to advise booking profits in the rally at least with
a short term view. As far as levels are concerned, 17450 – 17500 would
be seen as immediate hurdles and the moment we slide below 17340,
we may see some decent profit booking towards 17250 – 17200.
Key Levels
Support 1 – 17340
Resistance 1 – 17450
Support 2 – 17200
Resistance 2 – 17500
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September 07, 2021
Nifty Vs OI
View
Nifty started the day on a positive note and surpassed
the 17400 mark. It then consolidated within a range for
most part of the day and ended with gains of three-
tenths of a percent.
FIIs were net sellers in cash market segment to the tune
of Rs. 589 crores. In index futures, they bought to the
tune of Rs. 347 crores with rise in open interest
indicating long formations in yesterday’s session.
The benchmark hit another milestone of 17400
yesterday, but it then consolidated in a range and we
did not see any addition of fresh positions. However,
the existing longs are still intact. FII's added some fresh
longs in the index futures and their 'Long Short Ratio' is
currently above 65 percent. The data hints at a
resistance around 17500 and support around 17300. We
expect the index to trade within this range in next two-
three sessions and hence, traders should look to buy if
index approaches support and lighten up longs if
market reaches around the mentioned resistance.
Comments
The Nifty futures open interest has increased by 0.68%.
Bank Nifty futures open interest has increased by 3.17%
as market closed at 17377.80 levels.
The Nifty September future closed with a premium of
26.85 point against a premium of 5.75 point in last
trading session. The October series closed at a premium
of 52.90 point.
The INDIA VIX decreased from 14.54 to 14.05. At the
same time, the PCR-OI of Nifty has decreased from 1.35
to 1.29.
Few of the liquid counters where we have seen high cost
of carry are IDEA, INDIAMART, PEL, SIEMENS, AND
CANFINHOME
OI Gainers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
INDIAMART
218475
42.44
8920.40
10.05
OFSS
324750
21.97
4818.05
1.57
NATIONALUM
129778000
21.72
99.20
5.53
PVR
2477002
19.15
1377.05
2.89
MCX
2033850
16.01
1643.65
3.03
HAL
1508125
15.62
1361.20
-2.48
CANFINHOME
1976325
15.11
591.95
1.16
SYNGENE
963900
14.43
628.80
0.17
OI Losers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
UBL
1619100
-6.20
1581.10
0.36
ONGC
55247500
-5.05
121.65
-1.40
M&MFIN
28996000
-4.83
168.25
1.69
BALKRISIND
1378400
-4.73
2454.15
1.69
HDFCLIFE
20135500
-4.57
736.05
0.23
SUNPHARMA
33896800
-4.35
784.25
-0.71
LUPIN
9886350
-4.28
981.95
1.52
BPCL
40917600
-3.93
490.80
-0.46
Put-Call Ratio
SCRIP
PCR-OI
PCR-VOL
NIFTY
1.29
0.99
BANKNIFTY
0.67
0.89
RELIANCE
0.55
0.33
ICICIBANK
0.50
0.48
INFY
0.56
0.34
Historical Volatility
SCRIP
HV
INDIAMART
57.43
WIPRO
38.30
IRCTC
46.54
ESCORTS
46.58
ICICIGI
40.62
www.angelone.in
September 07, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot = 17377.80
FII Statistics for September 06, 2021
Detail
Buy
Net
Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
2862.88
2515.79
347.09
182954
16115.00
2.00
INDEX
OPTIONS
261073.15
256207.46
4865.69
1559789
137803.09
16.78
STOCK
FUTURES
12929.80
13133.03
(203.23)
1454297
124709.71
0.18
STOCK
OPTIONS
15918.99
16129.45
(210.46)
235156
20027.24
7.98
Total
292784.82
287985.73
4799.09
3432196
298655.04
7.78
Turnover on September 06, 2021
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
1,90,396
17033.09
-40.32
Index Options
3,53,87,845
31,88,904.61
-38.97
Stock Futures
6,76,256
57659.65
-21.76
Stock Options
27,60,028
2,38,752.17
1.43
Total
3,90,14,525
35,02,349.52
-37.04
Bull-Call Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17400
223.50
49.00
51.00
17449.00
Sell
17500
174.50
Buy
17400
223.50
88.65
111.35
17488.65
Sell
17600
134.85
Buy
17500
174.50
39.65
60.35
17539.65
Sell
17600
134.85
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17400
222.00
44.30
55.70
17355.70
Sell
17300
177.70
Buy
17400
222.00
79.40
120.60
17320.60
Sell
17200
142.60
Buy
17300
177.70
35.10
64.90
17264.90
Sell
17200
142.60
Nifty Put-Call Analysis
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September 07, 2021
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
737
744
754
762
772
ASIANPAINT
3,281
3,298
3,323
3,340
3,365
AXISBANK
790
795
801
806
811
BAJAJ-AUTO
3,734
3,758
3,793
3,817
3,852
BAJFINANCE
7,406
7,456
7,535
7,586
7,665
BAJAJFINSV
16,503
16,625
16,797
16,919
17,091
BPCL
486
488
492
495
499
BHARTIARTL
646
650
658
662
670
BRITANNIA
4,008
4,044
4,096
4,132
4,185
CIPLA
935
943
950
958
966
COALINDIA
143
144
146
148
150
DIVISLAB
5,148
5,176
5,212
5,241
5,276
DRREDDY
4,838
4,877
4,910
4,949
4,982
EICHERMOT
2,760
2,802
2,845
2,888
2,931
GRASIM
1,482
1,506
1,537
1,561
1,592
HCLTECH
1,159
1,179
1,195
1,216
1,231
HDFCBANK
1,551
1,558
1,570
1,577
1,589
HDFCLIFE
721
729
736
744
751
HDFC
2,725
2,745
2,761
2,782
2,798
HEROMOTOCO
2,787
2,802
2,816
2,831
2,845
HINDALCO
455
462
469
476
482
HINDUNILVR
2,744
2,762
2,794
2,812
2,843
ICICIBANK
715
718
723
726
731
IOC
110
111
112
113
115
INDUSINDBK
980
986
997
1,003
1,014
INFY
1,688
1,709
1,721
1,742
1,753
ITC
208
209
210
211
212
JSW STEEL
673
680
688
695
704
KOTAKBANK
1,746
1,760
1,784
1,798
1,822
LT
1,674
1,684
1,700
1,710
1,726
M&M
741
748
754
761
767
MARUTI
6,764
6,805
6,880
6,921
6,996
NESTLEIND
20,056
20,139
20,244
20,327
20,432
NTPC
115
116
117
117
118
ONGC
119
120
122
124
126
POWERGRID
171
173
174
176
178
RELIANCE
2,371
2,398
2,439
2,466
2,507
SBILIFE
1,228
1,236
1,242
1,251
1,257
SHREECEM
29,874
30,205
30,731
31,062
31,588
SBIN
428
429
432
433
435
SUNPHARMA
772
778
786
792
799
TCS
3,784
3,818
3,848
3,882
3,911
TATACONSUM
856
863
870
877
885
TATAMOTORS
295
296
297
299
300
TATASTEEL
1,409
1,423
1,437
1,452
1,466
TECHM
1,423
1,442
1,455
1,474
1,487
TITAN
1,993
2,007
2,020
2,034
2,047
ULTRACEMCO
7,860
7,906
7,976
8,022
8,092
UPL
745
750
755
760
764
WIPRO
645
666
677
698
709
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September 07, 2021
*
Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelone.in
For Technical Queries E-mail: technic[email protected]
For Derivatives Queries E-mail: derivatives.desk@angelbroking.com
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