DEC 15, 2022
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Technical & Derivatives Report
xOOOOOOOO
Nifty Bank Outlook (44049)
Bank Nifty index started the day with a decent gap up and
continued its northward journey consecutively for the fifth trading
session. The index remained in a slender range throughout the
trading session and settled with mere gains of 0.23 percent, a tad
above the 44000 mark.
The ongoing price action construes a robust setup for the index and
is highly anticipated to continue the same in a comparable period.
At present, the unfilled gap around the 43750 odd zone is likely to
cushion any blip, while the 43500 mark is likely to act as the sheet
anchor. On the flip side, the fresh breakout has opened the
potential for the index to march toward the 44350-44600 zone in
the coming period. The overall structure is buoyant, where any
minor correction could be seen as an opportunity to add fresh
longs in the index.
Key Levels
Support 1 – 43750 Resistance 1 – 44350
Support 2 – 43500 Resistance 2 – 44600
Exhibit 1: Nifty
Daily
Chart
Exhibit 2: Nifty Bank
Daily
Chart
Sensex (62678) / Nifty (18660)
Once again, we witnessed positive traction in U.S. markets
overnight and this time it was after the cooling down numbers of
CPI. Following this, the Asian markets and SGX Nifty were in a
cheerful mood. Despite this we had a gradual start for the day and
as we moved ahead, the benchmark remained within a range to
eventually end near the opening levels with gains of around 0.28%
at 18660.
Technically, prices have closed above 18650 which we felt was
crucial to trigger back momentum in the bulls’ camp however not
much has changed. It seems traders opted to keep positions light
ahead of the key FOMC meet. We continue to remain upbeat on the
markets and sense that the higher bottom is in place around 18350
levels. In such a scenario, one should continue with the recent
stance of buying on dips with immediate support seen in the range
of 18540 - 18500 levels. On the higher side, 18780 - 18840 can be
considered as immediate resistance on the weekly expiry day. Even
though there was no major action on the Index front, mesmerizing
moves were seen in individual counters as the NIFTY MIDCAP 100
broke above the recent congestion zone and is trading at a fresh 52-
week high. Traders should continue to focus on this basket as
trading opportunities from this basket can give staggering returns in
the near term.
Key Levels
Support 1 – 18540 Resistance 1 – 18780
Support 2 – 18500 Resistance 2 – 18840
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Technical & Derivatives Report
DEC 15, 2022
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Our market soared over the positive global
developments, wherein the benchmark index Nifty50
witnessed a range-bound session ahead of the FOMC
meet and settled a tad above the 18650 zone, procuring
0.28 percent.
FIIs were net buyers in the cash market segment to
the tune of Rs. 372 crores. Simultaneously, in Index
futures, they sold worth Rs. 636 crores with an
increase in open interest, indicating a short buildup.
Looking at the F&O data, we witnessed long addition
in Bank Nifty and a subdued build-up in Nifty. On the
options front, the fresh build-up is now seen in the
18600-18650 put strike, hinting upward shift in the
support base. On the flip side, the nearest piling of
OI concentration is seen at the 18700-call strike,
followed by 19000 CE, signifying a bullish setup.
Meanwhile, the ‘Long Short Ratio’ saw some cool-
off to 59% from 61%. 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 increased by
0.07% and Bank Nifty futures open interest has
increased by 1.71% as the market closed at 18660.30.
The Nifty December future closed with a premium of
88.60 point against a premium of 95.85 point in the
last trading session. The January series closed at a
premium of 194.90 point.
The INDIA VIX increased from 12.81 to 12.88. At the
same time, the PCR-OI of Nifty has decreased from
1.05 to 1.02.
Few of the liquid counters where we have seen high
cost of carry are COLPAL, IDEA, CUB, PAGEIND and
RBLBANK.
Historical Volatility
SCRIP HV
IDEA 73.00
IBULHSGFIN 69.32
RBLBANK 67.89
GNFC 58.59
HINDCOPPER 58.13
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
11/25 11/29 12/1 12/5 12/8 12/12 12/14
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IBULHSGFIN 52744000 17.08 144.85 5.08
HAVELLS 5548500 16.25 1155.25 0.34
CUB 10840000 13.93 203.10 3.78
COLPAL 2850750 12.78 1571.50 -4.46
PERSISTENT 640800 12.61 4197.15 2.17
COFORGE 784350 11.73 3985.30 1.65
METROPOLIS 1385200 11.71 1372.20 0.80
CANFINHOME 5002725 9.08 546.70 1.54
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
DALBHARAT 1437500 -9.73 1890.70 1.91
ASTRAL 1672825 -7.02 2135.20 1.30
INDHOTEL 32084254 -5.79 333.50 1.35
TATACOMM 2664500 -5.75 1359.55 -0.85
EICHERMOT 3058650 -5.57 3369.50 1.34
MFSL 5486650 -5.17 705.10 0.06
BPCL 19472400 -4.88 348.75 0.44
RAMCOCEM 3778250 -4.39 722.45 -0.53
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.02 1.04
BANKNIFTY 1.20 1.01
RELIANCE 0.45 0.42
ICICIBANK 0.44 0.51
INFY 0.43 0.39
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Technical & Derivatives Report
DEC 15, 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
6
60
.
3
0
FII Statistics for
December
1
4
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
2907.33 3543.28 (635.95) 173936 17271.26 2.34
INDEX
OPTIONS
801524.28 805766.61 (4242.33) 2113411 207822.59 (5.97)
STOCK
FUTURES
9063.71 8504.37 559.34
1955173 137049.82 0.07
STOCK
OPTIONS
8741.83 8905.61 (163.78) 157999 11357.68 1.92
Total 822237.15
826719.87
(4482.72) 4400519
373501.35
(2.78)
Turnover on
December
1
4
, 2022
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index
Futures
222837 2247039.94
4.93
Index
Options
113646267 3028121.58
-6.21
Stock
Futures
688933 4926246.05
12.95
Stock
Options
3125683 362523.66 16.85
Total
31,25,683 362523.66 5.20
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
18600 259.30
63.75
36.25
18663.75
Sell
18700 195.55
Buy
18600 259.30
118.35
81.65
18718.35
Sell
18800 140.95
Buy
18700 195.55
54.60 45.40 18754.60
Sell 18800 140.95
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 18600 111.30
27.65
72.35
18572.35
Sell
18500 83.65
Buy 18600 111.30
49.20
150.80
18550.80
Sell 18400 62.10
Buy
18500 83.65
21.55 78.45 18478.45
Sell 18400 62.10
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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Technical & Derivatives Report
DEC 15, 2022
`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIENT 4,011 4,033
4,063 4,085
4,115
ADANIPORTS
883
892
900
909
917
APOLLOHOSP 4,623 4,645
4,678 4,700
4,734
ASIANPAINT 3,085 3,116
3,155
3,186 3,225
AXISBANK 932 937
944
949
955
BAJAJ-AUTO
3,627
3,639
3,654
3,666
3,681
BAJFINANCE 6,595 6,625
6,657
6,687
6,719
BAJAJFINSV
1,607
1,615
1,621 1,630
1,636
BPCL
343
346
348
351
354
BHARTIARTL 819 824
833
838
847
BRITANNIA 4,359 4,385
4,415
4,440
4,471
CIPLA 1,100 1,106
1,113
1,119
1,125
COALINDIA
230
231
232
233
234
DIVISLAB
3,332
3,363
3,381
3,412
3,431
DRREDDY 4,428 4,466
4,490
4,528
4,552
EICHERMOT 3,300 3,335
3,360 3,395
3,420
GRASIM
1,800
1,811
1,822
1,833
1,845
HCLTECH 1,041 1,048
1,053
1,061
1,065
HDFCBANK
1,644
1,653
1,659
1,669
1,675
HDFCLIFE
575
578
582
584
588
HDFC
2,693
2,711
2,723
2,741
2,753
HEROMOTOCO
2,697
2,722
2,753
2,778
2,808
HINDALCO
457
463
467
473
477
HINDUNILVR 2,643 2,664
2,692
2,713
2,741
ICICIBANK
910
916
926
932
942
INDUSINDBK
1,224
1,238
1,248
1,262
1,272
INFY
1,565
1,572
1,580
1,588
1,596
ITC
342
344
346
347
349
JSW STEEL 741 749
754
763
768
KOTAKBANK
1,859
1,866
1,871 1,878
1,883
LT
2,159
2,177
2,194
2,212 2,228
M&M
1,270
1,278
1,285
1,293
1,299
MARUTI 8,557 8,599
8,638
8,681
8,720
NESTLEIND
19,730
19,897
20,174
20,341
20,618
NTPC
167
169
172
174
176
ONGC 142 145
147 149
151
POWERGRID 214 217
219
221
223
RELIANCE 2,594 2,605
2,622
2,633
2,650
SBILIFE
1,255
1,262
1,274
1,282
1,294
SBIN 614 620
623
629
633
SUNPHARMA
991
996
999
1,004
1,008
TCS 3,325 3,345
3,361
3,381
3,397
TATACONSUM
804
810
813 819
823
TATAMOTORS 415 416
419 420
423
TATASTEEL
110
112
112
114
115
TECHM
1,044
1,055
1,061 1,072
1,078
TITAN
2,561
2,576
2,586 2,601
2,611
ULTRACEMCO 7,113 7,155
7,217
7,259
7,321
UPL 756 768
775
788
795
WIPRO 396 398
401 403
407
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Technical & Derivatives Report
DEC 15, 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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