DEC 14, 2022
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Technical & Derivatives Report
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Nifty Bank Outlook (43947)
Bank Nifty as well started on a positive note, and as the day
progressed prices extended the up move. The second half was
however range-bound but prices ended up at the highest point
with gains of half a percent tad below 44000 levels.
The merry run continues for the banking space as they continue to
create new milestones. If we consider the price change within the
index not much seems to have changed however there was strong
traction within many banking space counters. Going ahead as well
we continue to remain upbeat, but the focus would remain on
individual counters. As far as levels are concerned, 44350 - 44600
seems to be immediate resistance, and the higher range if
approached before weekly expiry then traders can look to book
some profits ahead of the key event. On the flip side, immediate
support is seen at 43700 - 43500 levels. We reiterate to use dips to
go longs whereas it would be advised to book longs at higher levels.
Key Levels
Support 1 – 43700 Resistance 1 – 44350
Support 2 – 43500 Resistance 2 – 44600
Daily
Chart
Exhibit 2: Nifty Bank
Daily
Chart
Sensex (62533) / Nifty (18608)
Despite US markets rallying overnight, our domestic markets
started the session on a flat note yesterday morning. However, it
was merely a formality as we witnessed Nifty resuming its upward
momentum in the initial hours. The benchmark index successfully
maintained its positive posture throughout the session. With a
gradual surge, Nifty eventually reclaimed the 18600 mark on a
closing basis. The banking had a lion share in yesterday’s move as
BANKNIFTY clocked new high in the latter half and is now within the
touching distance of yet another magical figure of 44000.
Monday’s sharp recovery from the midpoint of the sacrosanct
support range (18400 – 18300) was quite crucial for our markets.
With global peers supporting in the morning, we were all poised for
the continuation of the up move. For the coming session, 18650 is
the level to watch out for. Once we see Nifty surpassing this, the
bulls would become stronger and then we can expect the rally to
unfold towards the next milestone of 19000. As far as support level
is concerned, 18500 is to be considered as an intraday level. Traders
are advised to focus on stock specific actions; because even if we
are not witnessing bigger moves in key indices, a lot of thematic
moves have started to cut loose.
In fact, taking a glance at the NIFTY MIDCAP50 index, we reiterate
that stocks from the cash segment are providing excellent
opportunities. Hence, identifying such key movers is the key for
momentum traders.
Key Levels
Support 1 – 18500 Resistance 1 – 18650
Support 2 – 18430 Resistance 2 – 18780
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DEC 14, 2022
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Our market witnessed a stellar move, wherein the
benchmark index Nifty reclaimed the 18600 amid the
positive global cues. The banking space being the
charioteer to uplift the market sentiments.
FIIs were net buyers in the cash market segment to
the tune of Rs. 620 crores. Simultaneously, in Index
futures, they bought worth Rs. 557 crores with a minor
rise in open interest, indicating long addition.
Looking at the F&O data, we witnessed long addition
in Bank Nifty and short covering in Nifty. On the
options front, the piling up of positions is visible at
the 18500-18600 put strike, indicating a shift in
support for Nifty. On the flip side, the nearest piling
of OI concentration is seen at the 18700-call strike,
followed by 18800 CE, signifying intermediate
resistance. Meanwhile, the stronger hands have
added some longs in the system resulting in the
expansion of ‘Long Short Ratio’ to 61% from 60%.
Considering the recent price action, we would
advocate traders to utilise intraday declines to add
fresh longs in the system.
Comments
The Nifty futures open interest has decreased by
1.04% and Bank Nifty futures open interest has
increased by 6.17% as the market closed at 18608.
The Nifty December future closed with a premium of
95.85 point against a premium of 108.05 point in the
last trading session. The January series closed at a
premium of 205.75 point.
The INDIA VIX decreased from 13.31 to 12.88. At the
same time, the PCR-OI of Nifty has increased from
0.91 to 1.05.
Few of the liquid counters where we have seen high
cost of carry are TATACOMM, POLYCAB,
LALPATHLAB, MCX and LAURUSLABS.
Historical Volatility
SCRIP HV
IDEA 72.02
IBULHSGFIN 69.17
RBLBANK 67.60
GNFC 58.74
HINDCOPPER 58.17
Nifty
Vs OI
17800
18000
18200
18400
18600
18800
19000
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
11/24 11/28 11/30 12/2 12/6 12/9 12/13
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LALPATHLAB 1365500 35.74 2358.85 -4.43
POLYCAB 1092600 22.58 2942.05 4.50
LAURUSLABS 11015100 16.35 391.00 -3.24
CHAMBLFERT 9559500 15.24 313.95 0.86
ASTRAL 1799050 12.75 2099.50 2.56
ABBOTINDIA 45800 10.41 20837.65 1.31
CUB 9515000 10.13 195.80 0.56
METROPOLIS 1240000 9.80 1356.45 -0.99
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
PNB 212128000 -7.79 59.90 3.00
HCLTECH 11340700 -6.33 1044.70 1.27
NAUKRI 1185625 -5.88 4159.90 2.51
SIEMENS 1902175 -5.83 2990.15 -1.72
WHIRLPOOL 802900 -4.77 1515.05 0.58
ALKEM 263000 -4.08 3104.00 0.33
TATASTEEL 187587750 -3.75 111.20 -0.58
DIVISLAB 2879400 -3.66 3355.55 0.38
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.05 0.93
BANKNIFTY 1.41 0.90
RELIANCE 0.45 0.34
ICICIBANK 0.50 0.40
INFY 0.42 0.43
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Technical & Derivatives Report
DEC 14, 2022
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Dec Series) are given as an information and not as a recommendation.
Nifty Spot =
1
8
608
.
00
FII Statistics for
December
1
3
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
2963.74 2406.91 556.83
169967 16786.06 0.13
INDEX
OPTIONS
859924.78 864958.93 (5034.15) 2247653 221501.75 (1.44)
STOCK
FUTURES
6760.01 8433.71 (1673.70) 1953864 136762.94 0.32
STOCK
OPTIONS
8171.40 8107.50 63.90
155018 11091.27 1.64
Total 877819.93
883907.05
(6087.12) 4526502
386142.02
(0.53)
Turnover on
December
1
3
, 2022
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index
Futures
214881 2141558.98
-13.27
Index
Options
153102566 3228474.59
-13.40
Stock
Futures
609103 4361403.96
-3.37
Stock
Options
2811690 310241.84 6.19
Total
28,11,690 310241.84 -8.74
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
18500 303.10
68.40
31.60
18568.40
Sell
18600 234.70
Buy
18500 303.10
129.80
70.20
18629.80
Sell
18700 173.30
Buy
18600 234.70
61.40 38.60 18661.40
Sell 18700 173.30
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 18500 98.95
24.35
75.65
18475.65
Sell
18400 74.60
Buy 18500 98.95
42.60
157.40
18457.40
Sell 18300 56.35
Buy
18400 74.60
18.25 81.75 18381.75
Sell 18300 56.35
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
17900 18000 18100 18200 18300 18400 18500 18600 18700 18800 18900 19000 19100 19200
Call Put
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DEC 14, 2022
`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIENT 3,988 4,024
4,048
4,084
4,108
ADANIPORTS
875
885
891
901
908
APOLLOHOSP 4,600 4,640
4,701
4,740
4,801
ASIANPAINT
3,126
3,152
3,169
3,195
3,211
AXISBANK
931
938
944
950
956
BAJAJ-AUTO 3,573 3,605
3,623
3,655 3,674
BAJFINANCE
6,451
6,535
6,592
6,676
6,733
BAJAJFINSV 1,581 1,596
1,607
1,622
1,632
BPCL
343
345
347
348 351
BHARTIARTL 815 827
833
845 851
BRITANNIA 4,388 4,407
4,430
4,449 4,472
CIPLA
1,079
1,095
1,104
1,119
1,128
COALINDIA 229 230
232
234
236
DIVISLAB
3,318
3,337
3,351
3,370
3,384
DRREDDY 4,424 4,441
4,458
4,475
4,492
EICHERMOT 3,278 3,295
3,319
3,336
3,360
GRASIM 1,791 1,801
1,813
1,823
1,835
HCLTECH
1,025
1,035
1,041
1,051
1,057
HDFCBANK
1,638
1,643
1,650
1,655
1,662
HDFCLIFE
575
579
581 585
588
HDFC 2,683 2,693
2,700 2,710
2,717
HEROMOTOCO
2,707
2,733
2,774
2,800
2,841
HINDALCO
452
455
460
464
469
HINDUNILVR
2,687
2,699
2,709
2,721
2,732
ICICIBANK
924
929
932
937
940
INDUSINDBK 1,197 1,216
1,228
1,247
1,260
INFY
1,527
1,550
1,564
1,586
1,600
ITC 341 343
345
347
348
JSW STEEL 732 738
742
748
752
KOTAKBANK
1,853
1,861
1,866
1,874
1,880
LT
2,144
2,158
2,167
2,182
2,190
M&M
1,260
1,272
1,279
1,291
1,298
MARUTI 8,555 8,588
8,643 8,675 8,730
NESTLEIND
20,145
20,267
20,451
20,573 20,757
NTPC
167
168
169
170
171
ONGC 142 143
144 145 146
POWERGRID
212
214
215
218
219
RELIANCE 2,595 2,610
2,622
2,636
2,648
SBILIFE 1,251 1,265
1,272
1,286
1,294
SBIN
611
614
616
619
620
SUNPHARMA
974
984
990
1,001
1,007
TCS 3,243 3,288
3,312
3,356
3,381
TATACONSUM
799 803
809
813 819
TATAMOTORS 415 417
419 421
423
TATASTEEL
110
110
112
112
114
TECHM
1,024
1,035
1,041
1,052
1,058
TITAN 2,545 2,561
2,580
2,596
2,615
ULTRACEMCO
7,120
7,173
7,208
7,260
7,296
UPL 756 762
769
775
782
WIPRO
394
396
398
399 401
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Technical & Derivatives Report
DEC 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 rajesh.bhosle@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: technicalresearch-cso@angelone.in
For Derivatives Queries E-mail: derivatives.desk@angelone.in
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