September 08, 2021
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Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook - (36469)
We started-off the session slightly lower and then similar to previous
trading session saw selling pressure from the word go to tank below
36200. However, smart recovery from the subsequent hour followed
by one more round of profit resulted the bank index to conclude the
volatile day tad below 36500 with the loss of 0.34%.Throughout the
August series, the banking index struggle to surpass the sturdy wall
placed around 36200-36300 and yesterday this same levels acted as
a support zone. If we look at the hourly chart, the 89 EMA also
coincides with the above mentioned levels and considering the
recovery seen it has certainly gained more importance. Going ahead,
until we manage to sustain above 36000-36200 on the closing basis
there isn’t anything to be worried above but any fall below this shall
be a sign of caution. On the higher side, 37000-37200 shall be
looked as strong resistance zone.
Key Levels
Support 1 – 36500
Resistance 1 – 37000
Support 2 – 36400
Resistance 2 – 37200
Exhibit 2: Nifty Bank Daily Chart
Going ahead, 17450 is to be seen as immediate hurdle and the
moment we close below 17300, we would see some immediate profit
booking in the market. Hence, traders are advised to stay light and
avoid taking aggressive bets for a while. Apart from the benchmark
index, the banking space continues to sulk; but yesterday surprisingly,
the IT basket was also applying some pressure, which could be the
space to watch going ahead.
Key Levels
Support 1 – 17300
Resistance 1 – 17450
Support 2 – 17200
Resistance 2 – 17500
Sensex (58279) / Nifty (17362)
The benchmark index started the session with marginal upside gap
precisely at 17400. However due to some profit booking in the initial
hours, Nifty came off sharply to slide tad below the 17300 mark.
Fortunately no further damage done as bulls once again defended the
key support and thereafter lifted the Nifty back above the 17400
terrain. Towards the end, sceptical traders used this bounce back to
lighten up longs, which resulted in a small decline to conclude the
session with a negligible loss.
We witnessed a see-saw like price movement during the session, but
the overall range was not very wide as index kept vacillating within the
boundaries of not even a percent. At the end, Nifty managed to close
slightly below 17400 with some hint of profit booking at higher levels.
Price-wise, there is no damage visible yet but we continue with our
cautious stance on the index. Also, in our previous commentary, we had
mentioned about Nifty confirming first sign of weakness if starts trading
below previous week’s high of 17340. Yesterday it did trade below this
point but rebounded sharply from the key support of 17300. In
practical terms, we reckon this development as good enough evidence
for early sign of weakness/ profit booking.
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Technical & Derivatives Report
September 08, 2021
Nifty Vs OI
View
Nifty witnessed some volatile moves in yesterday's
session wherein the index corrected post opening and
entered sub 17300 zone. However, it immediately
witnessed buying interest around this support and
rallied to surpass 17400. It gave up the gains at the end
and closed with marginal loss around 17360.
FIIs were net sellers in cash market segment to the tune
of Rs. 145 crores. In index futures, they bought to the
tune of Rs. 433 crores with decrease in open interest
indicating short covering in yesterday’s session.
The intraday volatility did not lead to any change in
open interest in Nifty, but the Banking index shed open
interest by 9 percent which indicates long unwinding,
Recently, some hopes were built for an upmove in the
BankNifty as the short positions were not rolled over
over and fresh longs were seen post expiry. But as there
was no follow up move in prices, traders seem to be
unwinding their longs, leading to uncertainty over the
short term. In options segment, 17400 and 17500 calls
have decent positions indicating resistance zone. On the
flipside, 17300 is the immediate support and a breach
below the same could lead to profit booking in next
couple of sessions..
Comments
The Nifty futures open interest has decreased by 0.04%.
Bank Nifty futures open interest has decreased by 9.51%
as market closed at 17362.10 levels.
The Nifty September future closed with a premium of
13.7 point against a premium of 26.85 point in last
trading session. The October series closed at a premium
of 44.25 point.
The INDIA VIX increased from 14.05 to 14.90. At the
same time, the PCR-OI of Nifty has decreased from 1.29
to 1.20.
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. (%)
CANFINHOME
2848950
44.15
615.70
3.91
POLYCAB
611700
33.79
2405.35
3.74
IDEA
732270000
24.23
8.25
14.38
IRCTC
2120625
14.15
3287.00
8.82
INDIAMART
240150
9.92
8752.45
-2.06
TATACONSUM
8715600
8.91
868.25
-0.25
MANAPPURAM
27240000
7.81
163.90
-2.40
GUJGASLTD
3387500
7.63
695.85
1.27
OI Losers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
VOLTAS
3104000
-11.86
1187.25
5.64
NATIONALUM
119238000
-8.12
96.30
-2.95
NAM-INDIA
3470400
-7.27
420.05
-0.53
SUNPHARMA
31612000
-6.74
769.90
-1.84
DLF
38936700
-5.66
336.05
-3.08
HINDALCO
35907150
-4.96
462.30
-1.49
COFORGE
834200
-4.60
5179.45
-2.26
LTI
755850
-4.58
5404.70
-0.92
Put-Call Ratio
SCRIP
PCR-OI
PCR-VOL
NIFTY
1.20
0.93
BANKNIFTY
0.69
0.89
RELIANCE
0.58
0.36
ICICIBANK
0.49
0.52
INFY
0.53
0.41
Historical Volatility
SCRIP
HV
IRCTC
47.81
VOLTAS
39.03
INDUSTOWER
56.27
IDEA
106.94
LICHSGFIN
50.10
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Technical & Derivatives Report
September 08, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot = 17362.10
FII Statistics for September 07, 2021
Detail
Buy
Net
Contracts
Open Interest
Sell
Value
(in Cr.)
Change
INDEX
FUTURES
4316.03
3883.08
432.95
169964
14906.52
(7.10)
INDEX
OPTIONS
362079.02
360114.38
1964.64
1603879
141410.27
2.83
STOCK
FUTURES
12476.54
13567.58
(1091.04)
1447600
123793.90
(0.46)
STOCK
OPTIONS
18279.95
18309.58
(29.63)
248096
21108.63
5.50
Total
397151.54
395874.62
1276.92
3469539
301219.32
1.09
Turnover on September 07, 2021
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
3,26,765
29164.06
71.22
Index Options
5,71,27,063
51,34,177.72
61.00
Stock Futures
7,02,868
59529.20
3.24
Stock Options
27,52,542
2,41,919.47
1.33
Total
6,09,09,238
54,64,790.45
56.03
Bull-Call Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17400
200.35
47.95
52.05
17447.95
Sell
17500
152.40
Buy
17400
200.35
86.05
113.95
17486.05
Sell
17600
114.30
Buy
17500
152.40
38.10
61.90
17538.10
Sell
17600
114.30
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17400
225.75
46.60
53.40
17353.40
Sell
17300
179.15
Buy
17400
225.75
82.50
117.50
17317.50
Sell
17200
143.25
Buy
17300
179.15
35.90
64.10
17264.10
Sell
17200
143.25
Nifty Put-Call Analysis
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September 08, 2021
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
734
740
747
753
761
ASIANPAINT
3,281
3,309
3,352
3,379
3,422
AXISBANK
772
780
790
797
807
BAJAJ-AUTO
3,739
3,755
3,778
3,794
3,816
BAJFINANCE
7,318
7,388
7,477
7,547
7,636
BAJAJFINSV
16,472
16,627
16,786
16,940
17,099
BPCL
473
477
485
490
498
BHARTIARTL
634
652
666
685
699
BRITANNIA
4,052
4,074
4,102
4,123
4,151
CIPLA
937
944
951
957
964
COALINDIA
144
146
147
148
150
DIVISLAB
5,153
5,182
5,208
5,237
5,263
DRREDDY
4,823
4,860
4,893
4,930
4,963
EICHERMOT
2,762
2,793
2,836
2,867
2,910
GRASIM
1,499
1,527
1,542
1,570
1,586
HCLTECH
1,158
1,170
1,192
1,205
1,227
HDFCBANK
1,542
1,556
1,569
1,582
1,596
HDFCLIFE
723
729
736
742
749
HDFC
2,710
2,773
2,814
2,877
2,917
HEROMOTOCO
2,771
2,784
2,805
2,818
2,839
HINDALCO
454
458
465
470
477
HINDUNILVR
2,747
2,762
2,785
2,801
2,824
ICICIBANK
706
712
717
722
728
IOC
110
111
112
113
113
INDUSINDBK
971
986
999
1,014
1,027
INFY
1,684
1,695
1,715
1,726
1,746
ITC
208
210
212
214
216
JSW STEEL
673
678
688
694
703
KOTAKBANK
1,730
1,747
1,763
1,781
1,797
LT
1,663
1,672
1,689
1,698
1,714
M&M
743
748
753
759
764
MARUTI
6,811
6,844
6,887
6,920
6,963
NESTLEIND
20,083
20,226
20,309
20,452
20,536
NTPC
114
115
116
117
118
ONGC
118
119
121
122
124
POWERGRID
172
172
173
174
175
RELIANCE
2,391
2,416
2,437
2,462
2,483
SBILIFE
1,215
1,227
1,240
1,252
1,265
SHREECEM
29,983
30,318
30,596
30,931
31,208
SBIN
422
426
429
432
435
SUNPHARMA
757
763
773
780
790
TCS
3,770
3,793
3,831
3,854
3,893
TATACONSUM
850
859
874
883
898
TATAMOTORS
288
291
294
298
301
TATASTEEL
1,398
1,413
1,436
1,452
1,474
TECHM
1,406
1,421
1,447
1,461
1,487
TITAN
2,002
2,018
2,029
2,045
2,056
ULTRACEMCO
7,851
7,939
7,999
8,087
8,148
UPL
739
745
753
759
767
WIPRO
662
668
679
685
696
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Technical & Derivatives Report
September 08, 2021
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Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelone.in
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