July 08, 2022
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Technical & Derivatives
Report
Nifty Bank Outlook
-
(34920)
The stage was set on Wednesday the way market closed around
crucial levels and global market didn’t pour water on this. We
had a gap up opening in banking index too and then continued
its northward move in the initial hours. Around the midsession,
it came off a bit but some of the banking counters just picked
the momentum from there. Eventually, the BANKNIFTY ended
the weekly expiry session at day’s high and is now about the
knock the door at 35000.
Our market participants finally had something to cheer for. Last
month and a half has been a slumber phase, which prima facie
appears to have ended for a while. For the coming session, we
expect the momentum to continue towards 35400 - 35600 once
we see banking index surpassing the crucial zone of 35000-
35100. On the flipside, 34700 followed by 34500 are to be
considered as immediate supports. We advise momentum
traders not to get complacent and look to take some money off
the table around the higher trading range.
Key Levels
Support 1 – 34700 Resistance 1 – 35100
Support 2 – 34500 Resistance 2 – 35400
Exhibit 1: Nifty Daily Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (54178) / Nifty (16133)
The positive global cues had led to a promising start to our
market on the weekly expiry session. The initial gap up in the
benchmark index was sustained throughout the day, suggesting
an encouraging sign for the market participants. The rub-off
effect of the positivity was visible across the board as the index
decisively leaped over the psychological mark. By the end of the
session, the Nifty maintained its gain and concluded the day on a
positive note at the 16133 level, procuring near a percent.
Technically, the short-term structure seems bullish as the index
authoritatively reclaimed the psychological mark. Also, the
buying interest towards the fag end augurs well for the market
participants, with the Nifty closing near the day’s high. From here
on, the unfilled gap on the downside of the 16000-16045 odd level
should act as the demand zone and cushion any minor blips.
While on the flip side, the 16200 sub-level is likely to be seen as
the immediate resistance, breaching which the next potential
hurdle could be seen around the 16325-16400 zone.
Key Levels
Support 1 – 16045 Resistance 1 – 16200
Support 2 – 16000 Resistance 2 – 16325
Going forward, our
market is likely to remain upbeat in the
near term, wherein any minor dip could be seen as an
opportunity for the bulls to add long positions. From here on,
we may expect gradual moves in key indices, but individual
pockets are now likely to outshine. Hence, it’s advisable to
keep focusing on such potential movers, which are likely to
provide better trading opportunities. Also, we would like to
reiterate not being complacent with the gains and to stay
abreast with daily developments across the globe.
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July 08, 2022
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We began the weekly expiry session with an upside
gap tad above 16100. However, we observed some
consolidation thereafter; in the latter half the Nifty
slide below 16050 but sharp recovery was seen in the
final hour of trade to reclaim 16150 to close with a
handsome gains of almost a percent.
FIIs were net sellers in the cash market segment to
the tune of Rs. 925 crores. Simultaneously, in Index
futures, they bought worth Rs. 1263 crores with
decrease in open interest, indicating short covering.
Looking at the F&O data, we have observed short
covering in both the indices. Since last three session
stronger hands had been covering their bearish bets
in index futures and stock futures segment. On the
options front, we have observed piling up of positions
in 15900-16100 put strikes, which clearly hints the
immediate support has now shifted higher to 15900-
16000 zone. On the flip side, a considerable OI
concentration is visible at 16200 call strike. Global
set-up suggests positive opening and any sustainable
close beyond 16200 shall boost the overall sentiment
of market participants.
Comments
The Nifty futures open interest has decreased by 6.47%.
and BANK Nifty futures open interest has decreased by
5.11% as the market closed at 16132.90.
The Nifty July future closed with a premium of 15.25
point against a premium of 0.65 point in the last trading
session. The Aug series closed at a premium of 35.50
point.
The INDIA VIX decreased from 20.26 to 19.20. At the
same time, the PCR-OI of Nifty has decreased from 1.27
to 1.26.
Few of the liquid counters where we have seen high
cost of carry are IDEA, INDIACEM, RAIN, NATIONALUM
and RBLBANK.
Historical Volatility
SCRIP HV
NBCC 55.96
TITAN 39.68
CANBK 54.53
SYNGENE 38.62
HINDALCO 53.67
Nifty Vs OI
15000
15200
15400
15600
15800
16000
16200
16400
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
6-20 6-22 6-24 6-28 6-30 7-4 7-7
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ABB 778250 25.42 2562.50 0.63
GUJGASLTD 4625000 19.09 456.35 1.69
BSOFT 4020900 13.38 340.50 0.24
HAL 1704300 12.58 1735.75 -0.79
BALRAMCHIN 7356800 11.76 345.70 -0.52
INDIAMART 349050 9.20 3911.80 4.59
APOLLOTYRE 15445500 8.75 202.05 3.10
INDIACEM 11022900 7.25 165.20 1.68
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
DALBHARAT 1037000 -13.15 1453.10 5.20
BAJFINANCE 5586375 -6.52 5860.65 -0.89
FEDERALBNK 66630000 -6.34 97.00 1.65
CROMPTON 3949500 -5.90 367.35 1.80
RECLTD 34974000 -5.02 129.95 0.16
PETRONET 13749000 -4.96 220.65 0.20
COALINDIA 35338800 -4.66 186.00 2.90
WHIRLPOOL 552650 -4.53 1664.40 2.29
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.26 1.04
BANKNIFTY 1.36 1.01
RELIANCE 0.50 0.56
ICICIBANK 0.82 0.62
INFY 0.62 0.45
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Technical & Derivatives Report
July 08, 2022
Note: Above mentioned Bullish or Bearish Spreads in Nifty (July Series) are given as an information and not as a recommendation.
Nifty Spot =
16132.90
FII Statistics for
July 0
7
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
3280.71 2017.47 1263.24
146412 12170.92 (8.10)
INDEX
OPTIONS
1631697.13 1626179.57 5517.56
1035476 84985.22 (32.15)
STOCK
FUTURES
9793.97 9660.99 132.98
2282012 144966.62 (0.53)
STOCK
OPTIONS
6140.96 6138.76 2.20
109041 7035.84 6.69
Total
1650912.77
1643996.79
6915.98
3572941
249158.60
(12.47)
Turnover
on
July
07
, 2022
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index
Futures
423085 35296.05 -20.51
Index
Options
252794234 21231700.09 69.30
Stock
Futures
828396 51021.65 -2.09
Stock
Options
2522491 162469.84 0.15
Total
25,22,491 162469.84 67.82
Bull
-
Call Spreads
Action Strike Price Risk Reward BEP
Buy
16100 310.00
58.80
41.20
16158.80
Sell
16200 251.20
Buy
16100 310.00
108.10
91.90
16208.10
Sell
16300 201.90
Buy
16200 251.20
49.30 50.70 16249.30
Sell 16300 201.90
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy
16100 256.60
37.65
62.35
16062.35
Sell
16000 218.95
Buy
16100 256.60
71.35
128.65
16028.65
Sell
15900 185.25
Buy
16000 218.95
33.70 66.30 15966.30
Sell
15900 185.25
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
15400 15500 15600 15700 15800 15900 16000 16100 16200 16300 16400 16500 16600 16700
Call Put
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`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS 687 691
699 703 711
APOLLOHOSP 3,832 3,858
3,894 3,920 3,956
ASIANPAINT 2,835 2,848
2,890 2,903 2,945
AXISBANK 645 651
658 664 671
BAJAJ-AUTO 3,747 3,760
3,798 3,811 3,849
BAJFINANCE 5,736 5,826
5,907 5,997 6,077
BAJAJFINSV 11,676 11,852
12,026 12,202 12,376
BPCL 318 320
325 327 332
BHARTIARTL 681 687
692 698 703
BRITANNIA 3,755 3,793
3,838 3,875 3,920
CIPLA 926 936
943 953 960
COALINDIA 178 180
183 185 188
DIVISLAB 3,542 3,593
3,652 3,703 3,762
DRREDDY 4,272 4,331
4,387 4,446 4,502
EICHERMOT 2,887 2,898
2,928 2,938 2,968
GRASIM 1,353 1,361
1,377 1,385 1,400
HCLTECH 975 981
991 997 1,007
HDFCBANK 1,358 1,364
1,381 1,388 1,405
HDFCLIFE 544 551
558 565 573
HDFC 2,215 2,222
2,236 2,243 2,257
HEROMOTOCO 2,798 2,815
2,842 2,859 2,886
HINDALCO 326 333
349 357 372
HINDUNILVR 2,433 2,466
2,498 2,531 2,564
ICICIBANK 723 725
734 736 745
INDUSINDBK 824 830
847 853 870
INFY 1,482 1,487
1,500 1,505 1,519
ITC 286 287
290 292 295
JSW STEEL 535 545
561 571 588
KOTAKBANK 1,694 1,699
1,722 1,727 1,749
LT 1,530 1,543
1,579 1,592 1,627
M&M 1,095 1,100
1,119 1,124 1,144
MARUTI 8,512 8,571
8,635 8,695 8,759
NESTLEIND 17,994 18,192
18,371 18,568 18,747
NTPC 137 138
140 141 144
ONGC 119 120
122 123 125
POWERGRID 209 210
213 213 216
RELIANCE 2,348 2,380
2,407 2,438 2,465
SBILIFE 1,100 1,108
1,119 1,127 1,138
SHREECEM 19,775 19,883
20,028 20,136 20,281
SBIN 477 478
483 485 490
SUNPHARMA 834 836
844 846 855
TCS 3,227 3,244
3,282 3,298 3,336
TATACONSUM
744 747
753 756 763
TATAMOTORS 409 413
423 426 437
TATASTEEL 826 842
874 890 922
TECHM 1,007 1,008
1,018 1,019 1,029
TITAN 2,027 2,020
2,096 2,089 2,165
ULTRACEMCO 5,723 5,776
5,824 5,876 5,924
UPL 650 656
671 677 691
WIPRO 412 414
419 421 426
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Technical & Derivatives Report
July 08, 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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