OCT 18, 2022
www.angelone.in
Technical & Derivatives Report
xOOOOOOOO
Nifty Bank Outlook (39921)
Bank Nifty started the week on a flat note and witnessed some
weakness during the first half an hour. The bulls then latched onto
this morning dip as there was a strong positive momentum that
continued throughout the session. The bank nifty ended at the
highest point with gains of 1.56% at 39921.
Despite being an indecisive market last week, we remained
optimistic about the bank index and expected outperformance
which is exactly what we saw yesterday. We mentioned a key level
of 39600 and by breaking above the same we are witnessing a
positive price structure both on the hourly as well as on the daily
chart. Going with this momentum and the way individual stocks
buzzed yesterday we expect this northward journey to continue in
the near term. Traders are hence advised to keep a positive bias
and use any dips as a buying opportunity. As far as levels are
concerned, 39600 and 39200 are the immediate support whereas,
on the flip side, 40140 and 40500 are immediate resistance.
Key Levels
Support 1 – 39600 Resistance 1 – 40140
Support 2 – 39200 Resistance 2 – 40500
Daily
Chart
Exhibit 2: Nifty Bank Daily Chart
Sensex (58411) / Nifty (17312)
Our markets once again shrugged of negativity from the global
peers as we started the week on a flat note (with mild losses)
yesterday morning. After the initial trades, a strong buying emerged
across the board to enter the positive terrain first. The banking
space led from the front as they not only managed to pull markets
from key supports but also kept propelling higher as the day
progressed. With some sustained buying throughout the remaining
part of the session, Nifty eventually concluded the session tad
above 17300 by adding more than seven tenths of a percent to the
bulls’ kitty.
Unlike Friday, this time gains were here to stay and hence, bulls
seem to have made a strong statement by giving smart rally on the
first day of the new trading week. The global environment was not
supportive at the start of the session; but it also improved as we
moved forward. With reference to our previous commentary, we
remained optimistic despite challenging global cues and were
hopeful of market making a comeback ahead of the festive season.
Now with yesterday’s rally, the base shifts higher towards 17100
17000 and Nifty confirming a close above 17300 in an indication of
good times for our markets. For the coming session, we would see
index challenging the next resistance zone of 17350 17430 which
we believe is likely to surpass in a day or two.
Traders should now gear up for a move towards 17500 17700
and we will not be surprised to see higher levels in the near term
as well. Hopefully, global markets do not play a spoilsport here,
in fact, a small positivity from there would provide the impetus
for a strong up- move in our markets. Traders are advised to
continue with a positive bias and try to identify apt themes which
are likely to emerge as the week progresses.
Key Levels
Support 1 17170 Resistance 1 – 17430
Support 2 – 17100 Resistance 2 – 17500
www.angelone.in
Technical & Derivatives Report
OCT 18, 2022
View
We had a flat to negative start for the week and as
we progressed buying interest got accelerated to
slowly inch higher to reclaim 17300 on the closing
basis.
FIIs were net sellers in the cash market segment to
the tune of Rs. 372 crores. Simultaneously, in Index
futures, they bought worth Rs. 416 crores with a
decrease in open interest, indicating continuation of
short covering.
In derivatives front, we observed fresh longs in both
the key indices in yesterday’s upmove; however, the
quantum remained insignificant. Put writers added
good amount of positions in 17000-17300 put strikes.
On the contrary, 17300 call strike added some fresh
positions which looks to be on long side; followed by
unwinding in 17350 call option. Stronger hands
continue to cover bearish bets in index and stock
futures segment. Considering the above data points,
we expect continuation of yesterday upmove going
ahead and hence, would advocate capitalizing any
intraday declines to add fresh longs in system.
Comments
The Nifty futures open interest has increased by
2.65%. and Bank Nifty futures open interest has
increased by 1.69% as the market closed at 17311.80.
The Nifty October future closed with a discount of
11.50 point against a premium of 9.80 point in the last
trading session. The November series closed at a
premium of 27.85 point.
The INDIA VIX increased from 18.25 to 18.41. At the
same time, the PCR-OI of Nifty has increased from
0.91 to 1.11.
Few of the liquid counters where we have seen high
cost of carry are IDEA, ALKEM, IOC, L&TFH and BEL.
Historical Volatility
SCRIP HV
OBEROIRLTY 49.20
NAVINFLUOR 45.18
CUB 42.80
CANBK 52.36
AMBUJACEM 41.57
Nifty Vs OI
16400
16600
16800
17000
17200
17400
17600
,0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
9/29 10/3 10/6 10/10 10/12 10/14
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
CUB 10030000 30.60 193.10 4.23
SYNGENE 2711000 19.53 538.20 -2.31
SHREECEM 406900 13.15 20831.00 -1.88
INDIAMART 316950 11.98 4373.10 1.35
CANFINHOME 7795125 11.13 502.20 -0.38
GNFC 6381700 10.99 710.50 1.45
CANBK 42376500 7.88 237.40 4.73
BANKBARODA 105300000 7.78 136.15 4.35
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
AARTIIND 2764200 -20.18 788.05 0.96
BAJAJ-AUTO 2593250 -9.79 3628.60 1.85
INDIACEM 16196500 -6.29 233.40 1.89
INFY 39399000 -5.75 1489.95 0.95
MFSL 2315300 -4.40 713.70 0.13
ZYDUSLIFE 12409200 -3.65 418.85 1.31
HEROMOTOCO 2988300 -3.58 2553.70 0.76
MARUTI 3131800 -3.45 8723.85 1.20
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.11 0.81
BANKNIFTY 1.39 0.84
RELIANCE 0.60 0.43
ICICIBANK 0.56 0.41
INFY 0.46 0.48
www.angelone.in
Technical & Derivatives Report
OCT 18, 2022
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Oct Series) are given as an information and not as a recommendation.
Nifty Spot =
1
7
311.80
FII Statistics for
October
1
7
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
3888.35 3472.05 416.30
166561 14902.11 (1.05)
INDEX
OPTIONS
783803.91 783305.47 498.44
1808328 163100.72 19.14
STOCK
FUTURES
14385.74 12095.27 2290.47
2143349 144873.32 (0.21)
STOCK
OPTIONS
8625.01 8224.17 400.84
145370 10218.35 (0.90)
Total 810703.01
807096.96
3606.05
4263608
333094.50
7.11
Turnover on
October
1
7
, 2022
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index Futures
409340 37995.42 -18.15
Index Options
110242718 10213416.30
30.53
Stock Futures
833565 58322.29 -3.55
Stock Options
3118245 228087.99 -5.70
Total
31,18,245 228087.99 28.93
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
17300 267.15
60.65
39.35
17360.65
Sell
17400 206.50
Buy
17300 267.15
109.95
90.05
17409.95
Sell
17500 157.20
Buy
17400 206.50
49.30 50.70 17449.30
Sell 17500 157.20
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 17300 210.10
43.75
56.25
17256.25
Sell
17200 166.35
Buy 17300 210.10
77.45
122.55
17222.55
Sell 17100 132.65
Buy
17200 166.35
33.70 66.30 17166.30
Sell 17100 132.65
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
4500,000
5000,000
16700 16800 16900 17000 17100 17200 17300 17400 17500 17600 17700 17800 17900 18000
Call Put
www.angelone.in
Technical & Derivatives Report
OCT 18, 2022
`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIENT 3,096 3,154
3,195
3,253
3,293
ADANIPORTS
764
775
783
794 801
APOLLOHOSP 4,191 4,241
4,271
4,321
4,350
ASIANPAINT
3,147
3,172
3,195
3,220 3,243
AXISBANK
790
802
809
822
829
BAJAJ-AUTO 3,530 3,580
3,627
3,677
3,724
BAJFINANCE
7,160
7,257
7,315
7,413 7,470
BAJAJFINSV
1,655
1,687
1,706
1,738
1,757
BPCL
288
292
296
300
304
BHARTIARTL
754
760
766
771
777
BRITANNIA 3,728 3,753
3,777
3,802 3,827
CIPLA
1,092
1,100
1,107
1,115
1,121
COALINDIA
231
234
236
240
242
DIVISLAB 3,524 3,551
3,577
3,604 3,630
DRREDDY 4,239 4,287
4,331
4,379
4,422
EICHERMOT 3,442 3,478
3,502 3,538
3,561
GRASIM
1,658
1,675
1,692
1,708
1,726
HCLTECH
982
988
998
1,004
1,013
HDFCBANK 1,413 1,430
1,444
1,460
1,474
HDFCLIFE 515 520
523
527
530
HDFC 2,302 2,326
2,346
2,370
2,391
HEROMOTOCO 2,500 2,527
2,548
2,575
2,597
HINDALCO 381 384
390
394
400
HINDUNILVR 2,548 2,569
2,590 2,611
2,631
ICICIBANK 861 873
880
892
899
INDUSINDBK 1,149 1,175
1,189
1,214
1,229
INFY
1,467
1,479
1,487
1,498
1,506
ITC 327 330
332
335
337
JSW STEEL 618 625
631
637
643
KOTAKBANK
1,805
1,832
1,847
1,873
1,889
LT
1,856
1,870
1,892
1,905
1,927
M&M 1,180 1,205
1,222
1,247
1,264
MARUTI 8,498 8,611
8,680
8,793
8,863
NESTLEIND
18,656
18,788
18,924
19,056
19,192
NTPC
162
165
167
170
172
ONGC
125
126
127
129
130
POWERGRID
209
210
213
214
217
RELIANCE
2,318
2,364
2,389 2,434 2,459
SBILIFE 1,154 1,172
1,185
1,203
1,216
SBIN
517
530
538
551
558
SUNPHARMA
968
974
979
986
991
TCS 3,047 3,079
3,104
3,136
3,161
TATACONSUM
749
756
764
771
779
TATAMOTORS
389
393
396
399
402
TATASTEEL 97 98
99
101 102
TECHM 999 1,011
1,020
1,032
1,040
TITAN 2,588 2,607
2,621
2,639
2,653
ULTRACEMCO
6,012
6,142
6,212
6,341
6,411
UPL 666 672
678
684
690
WIPRO 369 372
375
379
382
www.angelone.in
Technical & Derivatives Report
OCT 18, 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[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: technicalresearch[email protected]ngelone.in
For Derivatives Queries E-mail: derivatives.desk@angelone.in
DISCLAIMER
Angel One Limited (hereinafter referred to as Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay
Stock Exchange Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and
Portfolio Manager and investment advisor with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel One
Limited is a registered entity with SEBI for Research Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration
number INH000000164. Angel or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for
accessing /dealing in securities Market.
This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment
decision. Nothing in this document should be construed as investment or financial advice. Each recipient of this document should
make such investigations as they deem necessary to arrive at an independent evaluation of an investment in the securities of the
companies referred to in this document (including the merits and risks involved), and should consult their own advisors to determine
the merits and risks of such an investment.
Angel or its associates or research analyst or his relative may have actual/beneficial ownership of 1% or more in the securities of
the subject company at the end of the month immediately preceding the date of publication of the research report. Neither Angel or
its associates nor Research Analysts or his relative has any material conflict of interest at the time of publication of research report.
Angel or its associates might have received any compensation from the companies mentioned in the report during the period
preceding twelve months from the date of this report for services in respect of managing or co-managing public offerings, corporate
finance, investment banking or merchant banking, brokerage services or other advisory service in a merger or specific transaction
in the normal course of business. Angel or its associates did not receive any compensation or other benefits from the companies
mentioned in the report or third party in connection with the research report. Neither Angel nor its research analyst entity has been
engaged in market making activity for the subject company.
Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and
trading volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's
fundamentals. Investors are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate
the contrary view, if any.
The information in this document has been printed on the basis of publicly available information, internal data and other reliable
sources believed to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this
document is for general guidance only. Angel One Limited or any of its affiliates/ group companies shall not be in any way responsible
for any loss or damage that may arise to any person from any inadvertent error in the information contained in this report. Angel One
Limited has not independently verified all the information contained within this document. Accordingly, we cannot testify, nor make
any representation or warranty, express or implied, to the accuracy, contents or data contained within this document. While Angel
One Limited endeavors to update on a reasonable basis the information discussed in this material, there may be regulatory,
compliance, or other reasons that prevent us from doing so.
This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced,
redistributed or passed on, directly or indirectly.
Neither Angel One Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in
connection with the use of this information. Angel or its associates or Research Analyst or his relative might have financial interest
in the subject company. Research analyst has not served as an officer, director or employee of the subject company.