September 15, 2021
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Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook - (36613)
Post the recent consolidation phase, the banking index showed a
positive momentum in yesterday’s session and managed to end
well above 36800.
The banking space has relatively underperformed the markets so
far and after some days of consolidation, this sector witnessed
some momentum today. The index has managed to hold above
its ‘20 DEMA’ in last few days and if the index manages to show a
follow up move above 37000, then we could see this sector
performing in the near term. In case this sector witnesses buying
interest, then one should focus on the PSU banking stocks which
could provide good trading opportunities. As far as levels are
concerned, 36600 and 36400 are to be seen as key supports;
whereas on the flipside, 37200 and 37550 will be seen as
intraday hurdles.
Key Levels
Support 1 – 36600z
Resistance 1 – 37200
Support 2 – 36400
Resistance 2 – 37550
Exhibit 2: Nifty Bank Daily Chart
an uncharted territory, it’s difficult to project the upside levels and
hence, just for understanding, every 100 points psychological level
can be considered as crucial points.
Today, fortunately banking did extremely well but it is still not
completely out of the congestion zone which is very important for
the market. Let’s see if it manages to have some follow up or it
continues with its recent trend of being a one day wonder.
Key Levels
Support 1 – 17450
Resistance 1 – 17600
Support 2 – 17350
Resistance 2 – 17700
Sensex (58723) / Nifty (17519)
We had a flat opening today in line with mixed global cues. Unlike
previous sessions, this time Nifty picked up the momentum right
from the word go and as the day progressed, it just kept
accelerating. In this course of action, Nifty went on to reach yet
another milestone of 17500.
Since last few days, Nifty was trapped in a small range and finally it
managed to find some momentum today. The trend is extremely
strong but honestly, the current move is not giving us comfort at all.
We reiterate that when things start to look hunky dory and there are
no signs of correction, market surprises. Yes, it’s difficult to predict
the precise time, but it’s always better safe than sorry. As of now, we
are not advising to short but at least one can choose to keep
booking profits on a regular interval and stay light on positions. One
can still continue with a stock centric approach by following strict
stop losses; because they are still providing better trading
opportunities. Now as far as immediate levels are concerned, 17450
– 17350 are to be seen as key supports. Since we are trading in
anuncharted territory, it’s difficult to project the upside levels
and hence, just for understanding, every 100 points
psychological level can be considered as crucial
points.
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Technical & Derivatives Report
September 15, 2021
Nifty Vs OI
16000
16200
16400
16600
16800
17000
17200
17400
17600
17800
,0
20,000
40,000
60,000
80,000
100,000
120,000
140,000
160,000
180,000
8/26 8/28 8/31 9/2 9/6 9/8 9/13 9/15
(`000)
Openinterest Nifty
View
◼ We had a flat start but smart buying interest was
observed right from the word go. This eventually
resulted in reaching and even surpassing the milestone
of 17500. The benchmark index clocked fresh record
highs of 17532.70 in the final hour of trade and
managed to close with handsome gains of over eighth
tenth of a percent.
◼ FIIs were net buyers in cash market segment to the tune
of Rs. 233 crores. In index futures, they bought worth
Rs. 171 crores with rise in open interest indicating blend
of long formation and short covering.
◼ Finally, we saw some fresh long formation in Nifty;
whereas, banking index witnessed some open interest
reduction. On the index options front, good amount of
writing was seen in 17400-17550 calls during the first
two sessions but seeing the strong move on
Wednesday, these call writers had to run for shelter as
they preferred covering their positions. Meanwhile, we
saw decent writing in 17600-17700 call strikes followed
by unwinding in 17900. On the flip side, put writers
added massive positions in 17400-17500 strikes; shifting
the base higher to 17400 now. Considering the overall
development in F&O space, we don’t see any sign of
caution as long as we sustain above 17300-17400.
However, it’s advisable to opt for stock specific
approach as they may provide better risk reward ratio.
Comments
◼ The Nifty futures open interest has increased by 4.41%.
Bank Nifty futures open interest has decreased by 1.92%
as market closed at 17519.45 levels.
◼ The Nifty September future closed with a premium of
16.00 point against a premium of 4.00 point in last
trading session. The October series closed at a premium
of 42.85 point.
◼ The INDIA VIX decreased from 14.02 to 13.73. At the
same time, the PCR-OI of Nifty has increased from 1.19
to 1.47.
◼ Few of the liquid counters where we have seen high cost
of carry are IDEA, ADANIENT, INDUSTOWER, STAR and
POWERGRID.
OI Gainers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IPCALAB
339300
34.04
2627.80
-0.56
TORNTPOWER
4200000
19.30
488.85
1.24
ADANIENT
21620000
18.81
1516.80
0.07
IEX
10402500
18.06
599.20
2.27
INDUSTOWER
15988000
14.89
244.50
-0.55
SRF
791375
13.22
11224.45
5.41
POWERGRID
35933754
12.02
177.90
2.38
STAR
2172150
11.04
622.10
3.61
OI Losers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IRCTC
1795950
-29.66
3682.30
-1.42
IDEA
792750000
-14.81
8.95
2.86
KOTAKBANK
15736400
-10.46
1871.70
0.25
NAM-INDIA
3934400
-7.42
441.25
0.55
GAIL
41797200
-7.15
157.15
0.87
SUNTV
14488500
-6.37
508.30
-0.58
CANBK
74260800
-6.17
161.60
3.59
LICHSGFIN
22656000
-5.94
420.50
0.22
Put-Call Ratio
SCRIP
PCR-OI
PCR-VOL
NIFTY
1.47
0.95
BANKNIFTY
0.93
0.76
RELIANCE
0.49
0.48
ICICIBANK
0.45
0.33
INFY
0.55
0.29
Historical Volatility
SCRIP
HV
NTPC
34.88
GMRINFRA
50.58
SRF
43.71
BHARTIARTL
40.71
TATAPOWER
48.57
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September 15, 2021
Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot = 17519.45
0900 Lot Size = 75
FII Statistics for September 15, 2021
Detail
Buy
Net
Contracts
Open Interest
Sell
Value
(in Cr.)
Change
Change
(%)
INDEX
FUTURES
2958.63
2787.97
170.66
179623
15940.39
2.90
4849.58
INDEX
OPTIONS
310257.42
308957.08
1300.34
1600401
142057.11
10.31
297314.41
STOCK
FUTURES
13645.39
13900.29
(254.90)
1483410
128855.92
0.35
18904.77
STOCK
OPTIONS
23429.75
23298.90
130.85
306289
26725.30
7.31
22378.01
Total
350291.19
348944.24
1346.95
3569723
313578.72
5.33
343446.77
Turnover on September 15, 2021
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
238688
21394.43
36.64
Index Options
61382827
5522722.47
59.01
Stock Futures
806136
71500.61
16.24
Stock Options
3394522
315017.35
19.65
Total
65,822,173
5930634.86
55.51
Bull-Call Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17500
175.50
51.00
49.00
17551.00
Sell
17600
124.50
Buy
17500
175.50
90.60
109.40
17590.60
Sell
17700
84.90
Buy
17600
124.50
39.60
60.40
17639.60
Sell
17700
84.90
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17500
140.15
37.70
62.30
17462.30
Sell
17400
102.45
Buy
17500
140.15
65.55
134.45
17434.45
Sell
17300
74.60
Buy
17400
102.45
27.85
72.15
17372.15
Sell
17300
74.60
Nifty Put-Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
16700 16800 16900 17000 17100 17200 17300 17400 17500 17600 17700 17800 17900 18000
Call Put
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September 15, 2021
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
747
756
763
772
779
ASIANPAINT
3,323
3,337
3,360
3,374
3,397
AXISBANK
782
787
792
797
803
BAJAJ-AUTO
3,739
3,764
3,783
3,808
3,827
BAJFINANCE
16,691
16,761
16,871
16,941
17,051
BAJAJFINSV
7,323
7,366
7,423
7,466
7,523
BPCL
681
704
720
743
758
BHARTIARTL
485
488
491
495
498
BRITANNIA
4,035
4,062
4,099
4,126
4,163
CIPLA
944
949
953
957
961
COALINDIA
151
156
159
164
167
DIVISLAB
5,055
5,095
5,130
5,170
5,205
DRREDDY
4,894
4,925
4,950
4,981
5,006
EICHERMOT
2,780
2,809
2,830
2,860
2,881
GRASIM
1,573
1,588
1,606
1,621
1,638
HCLTECH
1,205
1,239
1,264
1,298
1,323
HDFCBANK
2,770
2,794
2,818
2,842
2,866
HDFCLIFE
1,526
1,536
1,546
1,556
1,565
HDFC
735
741
747
753
759
HEROMOTOCO
2,847
2,860
2,872
2,885
2,897
HINDALCO
469
478
483
491
496
HINDUNILVR
2,734
2,756
2,770
2,792
2,806
ICICIBANK
702
708
712
717
721
IOC
1,015
1,038
1,050
1,072
1,084
INDUSINDBK
1,680
1,695
1,705
1,720
1,730
INFY
115
116
116
117
118
ITC
214
215
216
217
218
JSW STEEL
683
689
694
700
705
KOTAKBANK
1,836
1,855
1,876
1,895
1,917
LT
1,685
1,701
1,713
1,728
1,740
M&M
741
748
754
762
768
MARUTI
6,852
6,883
6,910
6,941
6,968
NESTLEIND
19,911
20,015
20,193
20,297
20,475
NTPC
113
119
122
128
131
ONGC
121
125
128
132
134
POWERGRID
172
175
177
180
182
RELIANCE
2,354
2,367
2,381
2,394
2,408
SBILIFE
1,161
1,166
1,171
1,177
1,182
SHREECEM
427
435
440
449
454
SBIN
30,221
30,612
31,041
31,432
31,861
SUNPHARMA
775
778
782
785
789
TCS
860
866
877
883
894
TATACONSUM
303
307
310
314
317
TATAMOTORS
1,434
1,444
1,454
1,463
1,473
TATASTEEL
3,818
3,884
3,932
3,998
4,046
TECHM
1,418
1,440
1,460
1,482
1,502
TITAN
2,031
2,074
2,104
2,147
2,177
ULTRACEMCO
7,711
7,770
7,850
7,909
7,989
UPL
748
755
759
766
770
WIPRO
664
669
675
680
685
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September 15, 2021
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Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelone.in
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Technical and Derivatives Team:
Sameet Chavan Chief Analyst - Technical & Derivatives sameet.chavan@angelbroking.com
Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com
Rajesh Bhosale Technical Analyst rajesh.bhosle@angelbroking.com
