September 17, 2021
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Technical & Derivatives Report
Exhibit 1: Nifty Daily Chart
Nifty Bank Outlook - (37669)
The BANKNIFTY started the day on a pleasant note in line with
the benchmark index. The banking space carried its positivity
from the previous session but this time it was gearing up for
some bigger reasons. As the day progressed, the buying
momentum accelerated in some of the banking stocks which
continued for the remainder of the day. Eventually, the
BANKNIFTY posted handsome gains over a couple of percent to
hasten slightly beyond its previous highs.
Taking a glance at the intraday charts, we can see banking index
literally taking off after sustaining beyond the strong barrier at
37000. There was no looking back then as it just kept ascending
with the series of higher highs and higher lows. The BANKNIFTY is
finally out of the slumber phase and the way it’s shaped up, it
should ideally lead the benchmarks to new highs.
Key Levels
Support 1 36600z
Resistance 1 37200
Support 2 36400
Resistance 2 37550
Sensex (59146) / Nifty (17630)
Nifty started the day on a positive note and kept the momentum
going to add another 100 points to the ongoing rally and end well
above 17600.
The upmove continues for Nifty and yesterday some of the recent
underperforming stocks showed a catch up move. The banking
index rallied sharply to cover some of its recent underperformance
and has marched towards its all-time highs. However, the broader
markets consolidated a bit and focus was clearly in selective
pockets. We continue with our advice for traders to be selective and
look for outperforming sectors/stocks and from a trading
perspective. With the index moving higher in an uncharted territory,
the immediate support base has shifted to 17500-17400 range while
17700-17800 would be seen as immediate levels on upside. We
reiterate traders to avoid aggressive overnight trades and trade with
proper risk management.
Key Levels
Support 1 17500
Resistance 1 17700
Support 2 17400
Resistance 2 17800
.
But now going back to our recent stance, we would certainly
be watchful of overall proceedings in the coming session
In the coming session, if we witness a sustainable breakout
beyond 37800 38000, we would see continuation of this
upward momentum in the banking space. However, if there is
no follow up to today’s spectacular move, the bulls would
certainly be disappointed.
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September 17, 2021
16200
16400
16600
16800
17000
17200
17400
17600
17800
125,000
130,000
135,000
140,000
145,000
150,000
155,000
160,000
165,000
170,000
8/27 8/30 9/1 9/3 9/7 9/9 9/14 9/16
(`000)
Openinterest Nifty
View
After Wednesday’s strong upmove, we began the
weekly expiry day on a cheerful note and extended the
upmove to almost touch 17650 mark.
FIIs were net buyers in cash market segment to the tune
of Rs. 1622 crores. In index futures, they bought worth
Rs. 235 crores with fall in open interest indicating short
covering.
It’s the second consecutive sessions wherein Nifty
added longs (quantum wasn’t significant on Thursday).
At the same time, we also saw good amount of long
addition in banking index after quite some time.
Surprisingly, the Nifty futures traded in discount which
is certainly not a good indications. In options front,
good amount of unwinding was seen in 17500-17600
call strikes; followed by build-up in 17650 strike. On the
flip side, fresh writing was seen in 17600 put option. As
we haven’t seen any relevant build-up in Nifty despite
sharp upmove along with futures trading in discount is
not giving the comfort to get carried away with the rally
seen. We would advise traders to keep booking profits
in index and prefer trading in individual counters
especially from banking space.
Comments
The Nifty futures open interest has increased by 1.11%.
Bank Nifty futures open interest has increased by 5.89%
as market closed at 17629.50 levels.
The Nifty September future closed with a discount of
18.25 point against a premium of 16.00 point in last
trading session. The October series closed at a premium
of 32.10 point.
The INDIA VIX increased from 13.73 to 14.41. At the
same time, the PCR-OI of Nifty has increased from 1.47
to 1.51.
Few of the liquid counters where we have seen high cost
of carry are LUPIN, CUB, ADANIENT, TVSMOTOR and
BIOCON.
OI Gainers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LUPIN
11609300
21.12
968.10
-2.57
CUB
9076800
16.84
157.70
1.15
ADANIENT
24625000
13.90
1503.20
-0.88
TVSMOTOR
5901000
12.10
544.70
-0.55
BIOCON
19763900
11.50
376.75
5.57
COLPAL
3095750
10.38
1716.50
-0.73
GODREJPROP
1771900
10.01
1640.40
0.22
ITC
188764800
9.21
230.75
6.88
OI Losers
SCRIP
OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IDEA
617750000
-22.08
11.25
26.11
BOSCHLTD
145400
-12.80
15279.45
4.48
CANBK
65674800
-11.56
166.75
3.22
ZEEL
58821000
-9.50
247.15
-3.14
COFORGE
823400
-8.53
5465.40
1.37
LICHSGFIN
20728000
-8.51
416.95
1.47
HEROMOTOCO
4086600
-7.90
2920.40
1.40
INDUSTOWER
14837200
-7.20
269.35
9.81
Put-Call Ratio
SCRIP
PCR-OI
PCR-VOL
NIFTY
1.33
0.95
BANKNIFTY
0.77
0.93
RELIANCE
0.47
0.41
ICICIBANK
0.44
0.54
INFY
0.51
0.31
Historical Volatility
SCRIP
HV
IDEA
111.03
ITC
32.48
INDUSTOWER
57.35
PNB
53.27
BIOCON
47.06
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Note: Above mentioned Bullish or Bearish Spreads in Nifty (September Series) are given as an information and not as a recommendation.
Nifty Spot = 17629.50
0900 Lot Size = 75
FII Statistics for September 16, 2021
Detail
Buy
Net
Contracts
Open Interest
Sell
Value
(in Cr.)
Change
Change
(%)
INDEX
FUTURES
5491.92
5257.17
234.75
174029
15536.99
(3.11)
4849.58
INDEX
OPTIONS
759235.47
758203.20
1032.27
1165140
104054.80
(27.20)
297314.41
STOCK
FUTURES
15061.86
16939.81
(1877.95)
1496574
130412.68
0.89
18904.77
STOCK
OPTIONS
27272.49
27487.45
(214.96)
336771
29624.28
9.95
22378.01
Total
807061.74
807887.63
(825.89)
3172514
279628.75
(11.13)
343446.77
Turnover on September 16, 2021
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
326364
29732.10
38.97
Index Options
131720015
12072799.61
118.60
Stock Futures
902826
76906.24
7.56
Stock Options
3754115
326171.08
3.54
Total
136,703,320
12505609.03
110.86
Bull-Call Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17600
166.95
47.65
52.35
17647.65
Sell
17700
119.30
Buy
17600
166.95
84.40
115.60
17684.40
Sell
17800
82.55
Buy
17700
119.30
36.75
63.25
17736.75
Sell
17800
82.55
Bear-Put Spreads
Action
Strike
Price
Risk
Reward
BEP
Buy
17600
153.90
41.20
58.80
17558.80
Sell
17500
112.70
Buy
17600
153.90
72.80
127.20
17527.20
Sell
17400
81.10
Buy
17500
112.70
31.60
68.40
17468.40
Sell
17400
81.10
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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`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1
R2
ADANIPORTS
1,014
1,073
1,130
1,188
1,245
ASIANPAINT
754
761
767
774
780
AXISBANK
3,313
3,326
3,349
3,362
3,385
BAJAJ-AUTO
782
793
800
811
818
BAJFINANCE
3,754
3,783
3,808
3,837
3,862
BAJAJFINSV
16,437
16,575
16,763
16,900
17,088
BPCL
7,282
7,349
7,397
7,463
7,511
BHARTIARTL
701
708
723
730
744
BRITANNIA
432
436
439
442
445
CIPLA
3,998
4,037
4,079
4,117
4,159
COALINDIA
942
948
956
962
971
DIVISLAB
155
159
161
164
166
DRREDDY
5,106
5,135
5,155
5,184
5,204
EICHERMOT
4,864
4,892
4,944
4,972
5,024
GRASIM
2,823
2,842
2,863
2,882
2,903
HCLTECH
1,546
1,562
1,590
1,606
1,634
HDFCBANK
1,231
1,248
1,272
1,288
1,312
HDFCLIFE
2,789
2,804
2,814
2,830
2,839
HDFC
1,526
1,543
1,554
1,571
1,582
HEROMOTOCO
739
747
752
760
764
HINDALCO
2,867
2,896
2,911
2,940
2,955
HINDUNILVR
476
480
484
487
491
ICICIBANK
2,725
2,744
2,771
2,790
2,816
IOC
707
717
723
733
740
INDUSINDBK
1,676
1,689
1,704
1,717
1,732
INFY
115
117
118
120
121
ITC
209
220
227
237
244
JSW STEEL
680
685
693
698
706
KOTAKBANK
1,853
1,879
1,895
1,921
1,937
LT
1,700
1,711
1,720
1,730
1,739
M&M
747
752
756
761
766
MARUTI
6,837
6,884
6,916
6,963
6,995
NESTLEIND
19,807
19,915
20,079
20,187
20,350
NTPC
122
123
124
125
127
ONGC
125
127
129
131
133
POWERGRID
176
178
180
181
183
RELIANCE
2,340
2,382
2,409
2,452
2,479
SBILIFE
1,160
1,172
1,179
1,191
1,198
SHREECEM
29,793
30,222
30,734
31,162
31,675
SBIN
435
450
458
473
481
SUNPHARMA
775
778
781
784
788
TCS
3,836
3,870
3,926
3,959
4,015
TATACONSUM
865
870
876
882
888
TATAMOTORS
304
307
311
315
319
TATASTEEL
1,406
1,421
1,447
1,462
1,487
TECHM
1,423
1,435
1,452
1,464
1,481
TITAN
2,074
2,090
2,112
2,128
2,150
ULTRACEMCO
7,652
7,713
7,791
7,852
7,931
UPL
742
748
759
765
776
WIPRO
656
662
671
678
687
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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
Sneha Seth Derivatives Analyst [email protected]m