SEPT 14, 2022
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xOOOOOOOO
Nifty Bank Outlook (40873)
Once again, the Bank Index started on a positive note however
there was no major traction after opening gains. Eventually,
after trading in a slender range the bank index ended with gains
of 0.74% at 40873.
The bulls continue with their bull run as for the fourth
consecutive session markets ended higher however if we
consider the index-specific action then there's no major action
for the intraday traders. The major action continues outside the
Index as individual stocks continue to give mesmerizing moves.
Traders are hence advised to focus on such outperforming
opportunities. We expect the bank index to move towards all-
time high levels and hence one should avoid contra bets and
rather any dip should be considered as a buying opportunity. As
mentioned above, we are likely to see a gap down opening in
such scenario, immediate support is seen at 40250 - 40000
whereas resistance is at 40600 - 40800 levels.
Key Levels
Support 1 – 40250 Resistance 1 – 40600
Support 2 – 40000 Resistance 2 – 40800
Daily
Chart
Exhibit 2: Nifty Bank
Daily
Chart
Sensex (60571) / Nifty (18070)
The global set up was positive yesterday morning and as a result,
the Nifty started the session with a decent gap above the
psychological mark of 18000. However, the follow up buying was
clearly missing like the previous session in most of the
heavyweight index movers. In fact, the range shrunk to merely
30 points during the latter half. Eventually, the Nifty concluded
the session convincingly above 18000, first time in last seven
months.
Nifty surpassing 18000 this time wasn’t a surprise, because the
way our market behaved in last week or so, things were pretty
evident. Additionally, the global markets have been supportive
since last 4 5 days, which provided the much needed push.
Now, heavyweight constituents seem to have slipped into a
consolidation mode and hence, we are not seeing the follow the
momentum in key indices. However, market is not at all short of
any action if we take a glance at the broader market. We
reiterate that one can continue to remain bullish and focus more
on stock specific movements, which are likely to provide better
trading opportunities.
The SGX Nifty is indicating a big gap down opening and we are
likely to start around the strong support levels at 17800 -
17700 levels. In the recent past, it has been observed of such
openings getting bought into, and hence it would be crucial to
see how our markets react post the opening. On the flip side,
18000 - 18100 will be seen as immediate resistance.
Key Levels
Support 1 – 17800 Resistance 1 – 18000
Support 2 – 17700 Resistance 2 – 18100
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Our market has witnessed a gap up opening amid
favorable global bourses, wherein the benchmark
index Nifty50 saw a decisive closure above the
psychological mark of 18000 with gains of 0.75%.
FIIs were net buyers in the cash market segment to
the tune of Rs. 1957 crores. Simultaneously, in Index
futures, they bought worth Rs. 2936 crores with a
decrease in open interest, indicating short covering.
Looking at the overall F&O data, we have witnessed a
long formation in the banking index while a short
covering rally in the benchmark index. On the options
front, piling up of positions is visible in the 18000-17900
put strikes, indicating a shift in the support base. While
on the higher end, the 18200 call strike has a decent
piling in the OI concentration. Considering the recent
price action, the undertone is likely to remain bullish,
and any intraday dip could be seen as an opportunity
to add longs in the indices. Meanwhile, we advocate
keeping a close tab on global developments and
looking for opportunities in the broader market.
Comments
The Nifty futures open interest has decreased by
1.31%. and Bank Nifty futures open interest has
increased by 4.00% as the market closed at 18070.05.
The Nifty Sep future closed with a premium of 35.45
point against a premium of 28.00 point in the last
trading session. The Oct series closed at a premium
of 85.25 point.
The INDIA VIX decreased from 17.93 to 17.47. At the
same time, the PCR-OI of Nifty has increased from
1.18 to 1.39.
Few of the liquid counters where we have seen high
cost of carry are TRENT, BAJAJFINSV, SIEMENS, ACC
and BRITANNIA.
Historical Volatility
SCRIP HV
IDEA 81.92
RBLBANK 72.95
IBULHSGFIN 72.90
ZEEL 64.19
HINDCOPPER 63.10
Nifty Vs OI
17300
17400
17500
17600
17700
17800
17900
18000
18100
18200
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
17,000
18,000
8/24 8/30 9/2 9/6 9/8 9/12
Openinterest Nifty
OI
Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ABBOTINDIA 62360 14.80 17920.70 -1.41
POLYCAB 942600 11.97 2638.50 3.38
MFSL 2237950 11.50 795.75 1.05
VOLTAS 6091500 10.51 970.15 0.26
LALPATHLAB 1634000 9.02 2434.70 -2.52
JKCEMENT 423250 8.87 2858.05 0.15
SUNTV 11745000 8.15 531.65 2.16
CROMPTON 4282500 7.98 412.40 -2.17
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
AARTIIND 2955450 -8.23 894.55 0.41
LTTS 862400 -7.74 3840.60 0.54
NAVINFLUOR 581850 -7.64 4719.05 1.21
CUB 8405000 -6.25 181.65 -0.66
IBULHSGFIN 47392000 -5.52 135.75 0.67
AXISBANK 41065200 -5.22 805.55 0.55
AMBUJACEM 72135000 -5.22 486.50 2.29
AUBANK 6289000 -5.09 674.80 2.05
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.39 0.95
BANKNIFTY 1.20 0.96
RELIANCE 0.58 0.40
ICICIBANK 0.79 0.83
INFY 0.45 0.40
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Technical & Derivatives Report
SEPT 14, 2022
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Sep Series) are given as an information and not as a recommendation.
Nifty Spot =
1
8
,
070
.
0
5
FII Statistics for
September
1
3
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
4745.03 1808.78 2936.25
115503 10999.38 (13.88)
INDEX
OPTIONS
179808.29 182042.55 (2234.26) 1361515 127607.14 (0.16)
STOCK
FUTURES
10816.17 12060.88 (1244.71) 2091527 150517.76 (0.63)
STOCK
OPTIONS
6969.77 7168.59 (198.82) 180024 13243.22 5.26
Total 202339.26
203080.80
(741.54) 3748569
302367.50
(0.67)
Turnover on
September
1
3
, 2022
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index
Futures
248149 23631.96 -0.94
Index
Options
83437223
7659192.60 21.88
Stock
Futures
818662 61902.63 6.06
Stock
Options
3332189 263023.77 11.42
Total
33,32,189 263023.77 21.28
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
18000 296.15
57.70
42.30
18057.70
Sell
18100 238.45
Buy
18000 296.15
110.10
89.90
18110.10
Sell
18200 186.05
Buy
18100 238.45
52.40 47.60 18152.40
Sell 18200 186.05
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 18000 193.25
34.90
65.10
17965.10
Sell
17900 158.35
Buy 18000 193.25
63.55
136.45
17936.45
Sell 17800 129.70
Buy
17900 158.35
28.65 71.35 17871.35
Sell 17800 129.70
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
17400 17500 17600 17700 17800 17900 18000 18100 18200 18300 18400 18500 18600 18700
Call Put
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`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIPORTS
924
937
945
957
966
APOLLOHOSP 4,438 4,464
4,492
4,518
4,546
ASIANPAINT 3,388 3,405
3,432 3,449 3,476
AXISBANK
800
803
806
809 812
BAJAJ-AUTO 3,836 3,851
3,871
3,886 3,906
BAJFINANCE 7,255 7,329
7,387
7,461
7,518
BAJAJFINSV
1,699
1,742
1,793
1,836
1,887
BPCL 337 339
342
344
348
BHARTIARTL 762 773
781 792
800
BRITANNIA
3,629
3,693
3,729
3,793
3,829
CIPLA
1,048
1,053
1,058
1,064
1,069
COALINDIA
228
230
232
234
237
DIVISLAB
3,617
3,642
3,675
3,700
3,733
DRREDDY
4,196
4,224
4,266 4,294 4,336
EICHERMOT 3,467 3,494
3,538
3,566
3,610
GRASIM
1,752
1,771
1,790
1,809
1,827
HCLTECH
946
951
955
960
965
HDFCBANK
1,492
1,502
1,509
1,520
1,527
HDFCLIFE 572 579
593
600 614
HDFC
2,419
2,435
2,446 2,463 2,474
HEROMOTOCO
2,797
2,834
2,868 2,905
2,939
HINDALCO
429
433
436
440
443
HINDUNILVR
2,562
2,574
2,592
2,604
2,622
ICICIBANK
901
906
910
914 918
INDUSINDBK 1,127 1,145
1,155
1,174
1,184
INFY
1,535
1,540
1,546
1,552
1,558
ITC 329 332
333
336
338
JSW STEEL 681 686
692
697
703
KOTAKBANK
1,908
1,916
1,928
1,936
1,948
LT 1,951 1,971
1,983
2,003
2,015
M&M 1,281 1,291
1,300
1,310
1,319
MARUTI 8,864 8,895
8,942 8,973 9,020
NESTLEIND
18,804
18,934
19,100
19,230
19,397
NTPC 164 166
167
169
171
ONGC
133
133
134 135
136
POWERGRID 222 225
226
228
230
RELIANCE 2,588 2,604
2,617
2,633
2,646
SBILIFE
1,299
1,312
1,323
1,336
1,347
SHREECEM
23,145
23,539
24,243
24,637
25,341
SBIN 551 555
557
561
564
SUNPHARMA
879
885
889
894
899
TCS
3,201
3,215
3,239
3,254 3,278
TATACONSUM
821 835
844
857
866
TATAMOTORS 451 454
456
459
462
TATASTEEL
107
107
108 108
109
TECHM 1,130 1,139
1,152 1,160
1,173
TITAN 2,649 2,677
2,700
2,728
2,751
ULTRACEMCO
6,792
6,844
6,907
6,959
7,022
UPL
744
750
759
765
774
WIPRO 419 421
423
425
428
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Technical & Derivatives Report
SEPT 14, 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 raje[email protected]angelone.in
Osho Krishan Senior Analyst – Technical & Derivatives osho.krishan@angelone.in
Research Team Tel: 022 – 39357600 Website: www.angelone.in
For Technical Queries E-mail: technicalresear[email protected]gelone.in
For Derivatives Queries E-mail: derivatives.d[email protected]lone.in
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