Technical and Derivatives Reports - November 18, 2022

NOV 18, 2022

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Technical & Derivatives Report

xOOOOOOOO

Nifty Bank

Outlook (

458

)

Bank Nifty started the day on a mild negative note this was

followed by a recent trend of sideways consolidation for the

intraday. Subsequently, during the penultimate hour, there were

some signs of strength that pushed prices beyond the previous

day's high however during the last half an hour there was again

some weakness to eventually end with a loss of 0.18% tad below

42500 levels.

Despite being a weekly expiry there was no major traction and this

has been the case throughout this week. The undertone remains

bullish however we are now seeing some signs of fatigue in the

bull's camp. In such a scenario, the apt strategy would be

considering dips as a buying opportunity and booking profits at

higher levels. Along with it, individual counters from the basket as

well is likely to give out performing opportunities. In such a

scenario, levels to watch as key support is seen around 42250

followed by 42000. On the flip side, 42750 - 43000 remains an

immediate resistance.

Key Levels

Support 1 – 42250 Resistance 1 – 42750

Support 2 – 42000 Resistance 2 – 43000

Exhibit 1: Nifty Daily Chart

Exhibit 2: Nifty Bank

Daily

Chart

Sensex (61751) / Nifty (18344)

The global cues were a bit on the sluggish side to start the day.

However, we began the session on a flat note by shrugging off these

developments. For the most part of the session, index consolidated

in a slender range. But unlike previous sessions, the end was

certainly not the same. We witnessed a nosedive in last 30 minutes

of trade to conclude the session tad below the 18350 mark.

Although the tail end decline was a bit unpleasant for many traders,

we must consider this as a weekly expiry adjustment. If it’s a

genuine selling, the follow through needs be seen in coming session

to break the support zone of 18300 - 18260. However if this doesn’t

happen, then this move should only be construed as a running

correction. The structure remains very much intact and hence, we

will not be surprised to see some buying emerging at lower levels.

As far as resistance levels are concerned, 18400-18450-18525

should be seen as cluster for the coming session.

Key Levels

Support 1 – 18300 Resistance 1 – 18450

Support 2 – 18260 Resistance 2 – 18525

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View

 The Indian equity market witnessed a lackluster day of

trade, wherein the benchmark index Nifty50 shed

nearly 0.40 percent due to the fag end sell-off and

settled a tad below the 18350 level.

 FIIs were net buyers in the cash market segment to

the tune of Rs. 618 crores. Simultaneously, in Index

futures, they sold worth Rs. 408 crores with a

decrease in open interest, indicating long unwinding.

 Looking at the overall F&O data, we have witnessed a

mixed trade in both indices. On the options front, the

piling up of OI is visible in the 18300 put strike,

indicating nearby support. While on the higher end, the

piling up of positions could be seen at 18400-18500 call

strikes, suggesting the intermediate resistances for

the index. Meanwhile, the stronger hands remained

steady with their bullish bets as the ‘Long Short Ratio’

stood at 64%. Considering recent price action, we

advocate traders to continue with the buy on decline

approach.

Comments

 The Nifty futures open interest has increased by

0.69%. and Bank Nifty futures open interest has

decreased by 4.78% as the market closed at 18343.90.

 The Nifty November future closed with a premium of

34.50 point against a premium of 42.20 point in the

last trading session. The December series closed at

a premium of 126.75 point.

 The INDIA VIX decreased from 15.10 to 14.87. At the

same time, the PCR-OI of Nifty has decreased from

1.14 to 0.98.

 Few of the liquid counters where we have seen high

cost of carry are NAUKRI, SRTRANSFIN, EXIDEIND,

DIXON and MPHASIS.

Historical Volatility

SCRIP HV

GNFC 60.28

HDFCBANK 30.71

HDFC 34.71

INDHOTEL 46.35

NAUKRI 50.45

Nifty Vs OI

17600

17700

17800

17900

18000

18100

18200

18300

18400

18500

18600

8,000

9,000

10,000

11,000

12,000

13,000

14,000

15,000

16,000

10/31 11/2 11/4 11/8 11/10 11/15 11/17

Openinterest Nifty

OI Gainers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

AARTIIND 3852200 26.13 655.60 -2.89

METROPOLIS 1349800 25.75 1431.80 -0.29

AMARAJABAT 8420000 17.52 634.05 -0.17

NAUKRI 1944375 12.20 3907.55 -5.48

MUTHOOTFIN 8801225 10.43 1083.20 -0.13

MFSL 3027050 9.94 650.05 -0.65

NMDC 32738600 7.68 105.65 -1.39

PVR 3164018 7.48 1752.40 -0.13

OI Losers

SCRIP OI

CHG. (%)

PRICE

CHG. (%)

SRTRANSFIN 3429600 -6.17 1275.70 3.86

CUMMINSIND 2277600 -5.83 1380.75 0.99

BALRAMCHIN 10430400 -5.82 346.95 -1.40

PERSISTENT 669175 -5.72 3775.95 -1.07

IBULHSGFIN 44580000 -5.64 125.85 0.92

POWERGRID 36026100 -5.51 218.30 0.53

HINDALCO 24653975 -5.22 440.45 -1.68

APOLLOTYRE 17724000 -4.97 276.70 -0.36

Put-Call Ratio

SCRIP PCR (OI) PCR (VOL)

NIFTY 0.98 0.97

BANKNIFTY 1.12 1.01

RELIANCE 0.57 0.43

ICICIBANK 0.52 0.49

INFY 0.67 0.87

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Technical & Derivatives Report

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Note: Above mentioned Bullish or Bearish Spreads in Nifty (Nov Series) are given as an information and not as a recommendation.

Nifty Spot =

343

FII Statistics for

November

, 2022

Detail Buy

Contracts

Open

Interest

Value

(in Cr.)

Sell

Net

CHANGE

INDEX

FUTURES

2494.65 2902.77 (408.12) 182501 17419.94 (1.01)

INDEX

OPTIONS

1745300.38 1738438.40 6861.98

1367611 128513.64 (30.86)

STOCK

FUTURES

11061.76 10474.47 587.29

2169770 148572.44 0.10

STOCK

OPTIONS

10821.44 10684.91 136.53

165263 11718.12 (1.57)

Total 1769678.23

1762500.55

7177.68

3885145

306224.14

(13.62)

Turnover on

November

, 2022

Instrumen

No. of

Contracts

Turnover

( in Cr. )

Change

(%)

Index

Futures

243117 2379587.00

-19.51

Index

Options

258202241 3704948.14

-6.18

Stock

Futures

830244 5751894.60

-15.93

Stock

Options

3828230 314098.02 -25.88

Total

38,28,230 314098.02 -14.26

Bull-Call Spreads

Action Strike Price Risk Reward BEP

Buy

18300 167.10

58.65

41.35

18358.65

Sell

18400 108.45

Buy

18300 167.10

102.95

97.05

18402.95

Sell

18500 64.15

Buy

18400 108.45

44.30 55.70 18444.30

Sell 18500 64.15

Bear

Put Spreads

Action Strike Price Risk Reward BEP

Buy 18300 91.10

30.10

69.90

18269.90

Sell

18200 61.00

Buy 18300 91.10

50.80

149.20

18249.20

Sell 18100 40.30

Buy

18200 61.00

20.70 79.30 18179.30

Sell 18100 40.30

Nifty Put

Call Analysis

2000,000

4000,000

6000,000

8000,000

10000,000

12000,000

17700 17800 17900 18000 18100 18200 18300 18400 18500 18600 18700 18800 18900 19000

Call Put

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Technical & Derivatives Report

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Daily Pivot Levels for Nifty Constituents

Scrips

PIVOT

R1 R2

ADANIENT

3,851

3,934

3,984 4,067

4,117

ADANIPORTS

872

882

890

899

907

APOLLOHOSP 4,284 4,342

4,429 4,487

4,574

ASIANPAINT 3,040 3,056

3,076

3,092

3,113

AXISBANK

849

853

857

862

866

BAJAJ-AUTO 3,624 3,659

3,713

3,748 3,802

BAJFINANCE

6,774

6,835

6,892

6,953

7,010

BAJAJFINSV

1,635

1,650

1,675

1,690

1,715

BPCL

303

304

306

307

309

BHARTIARTL

834

840

845

851

856

BRITANNIA 4,082 4,104

4,127

4,148

4,172

CIPLA 1,107 1,113

1,123 1,129

1,139

COALINDIA 229 231

233

234

236

DIVISLAB 3,254 3,272

3,290 3,308

3,326

DRREDDY 4,325 4,373

4,431

4,479 4,537

EICHERMOT 3,375 3,409

3,454

3,488 3,533

GRASIM

1,684

1,697

1,711

1,724

1,737

HCLTECH

1,083

1,088

1,094

1,099

1,106

HDFCBANK

1,604

1,611

1,621 1,629

1,639

HDFCLIFE

520

526

531 536 541

HDFC

2,618

2,639

2,672

2,692

2,725

HEROMOTOCO 2,708 2,726

2,745

2,764

2,783

HINDALCO

433

437

440

444

448

HINDUNILVR 2,427 2,444

2,471

2,487

2,515

ICICIBANK

906

913

917

925

929

INDUSINDBK 1,130 1,138

1,146

1,154

1,161

INFY 1,571 1,579

1,591 1,599

1,611

ITC

340

342

345

347

349

JSW STEEL

691

700

706

715

722

KOTAKBANK 1,931 1,941

1,953

1,963

1,975

1,972

2,001

2,030 2,059

2,088

M&M

1,235

1,247

1,266

1,278

1,297

MARUTI 8,842 8,914

9,042 9,114 9,242

NESTLEIND

19,747

19,869

20,004

20,126 20,262

NTPC

166

167

169

170

172

ONGC

141

142

143 144 145

POWERGRID 214 216

218 220

223

RELIANCE 2,564 2,582

2,597

2,615 2,630

SBILIFE

1,236

1,245

1,253

1,262

1,270

SBIN

593

596

599

602

606

SUNPHARMA

998

1,006

1,018

1,026

1,038

TCS 3,300 3,325

3,342

3,367

3,385

TATACONSUM

757 772

780

795

804

TATAMOTORS 415 419

423

427 431

TATASTEEL 103 105

106

107

108

TECHM 1,041 1,050

1,056

1,065

1,070

TITAN 2,532 2,557

2,601

2,626

2,670

ULTRACEMCO 6,784 6,828

6,894 6,938 7,003

UPL

755

763

770

778

784

WIPRO

394

395

397

398

400

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Technical & Derivatives Report

NOV 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.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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