NOV 25, 2022
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xOOOOOOOO
Nifty Bank Outlook (43075)
On the expiry day, Bank Nifty started with a gap-up opening and
then for the major part remained within a range with a strong
positive bias. During the final hour, there was one more round of
buying that pushed prices higher to eventually end with gains of
0.81% at 43075.
After breaking above a consolidation range in the previous session
the bank nifty is back in momentum and yesterday created one
more milestone by crossing the 43000 mark. The Bank Nifty is in
uncharted territory and many more such milestones are just a
formality; traders should hence continue with the positive bias and
dips should be taken as a buying opportunity. As far as levels
are concerned, 42950 - 42800 are likely to act as immediate
support whereas 43250 - 43400 may act as resistance. After two
days of strong upmove the action may switch back to the individual
counters and hence traders can ideally focus on such counters that
are showing signs of outperforming opportunities.
Key Levels
Support 1 – 42950 Resistance 1 – 43250
Support 2 – 42800 Resistance 2 – 43400
Daily
Chart
Exhibit 2: Nifty Bank
Daily
Chart
Sensex (62273) / Nifty (18484)
The positive global developments led to a firm start in our equity
market, and gradually the benchmark index kept surging upward on
the expiry session. The broad-based buying has uplifted the overall
market sentiments, which certainly portrays the urge of the bulls of
D-Street while favorable conditions. The Nifty50 index finally
concluded the day at a 52-week high with gains of 1.19 percent, a
tad below the 18500 level.
Technically, the index has maintained its cycle of higher highs
higher lows and decisively breached its previous swing high on the
daily chart. Simultaneously, the strong bullish candle formation and
the buoyant market participation on the expiry day construe an
encouraging sign for the market. On the level front, the 18200-
18300 level is expected to provide a cushion to any minor decline
from the ongoing up move. At the same time, the index is well-
versed to reclaim the lifetime high zone and enter uncharted
territory in a comparable period.
Key Levels
Support 1 – 18300 Resistance 1 – 18600
Support 2 – 18200 Resistance 2 – 18680
There have been contributions across the board, wherein the
significant benefactors that boosted the bullish sentiments were
from the Technology and BFSI space. Also, the broader end of the
spectrum did exceptionally well, which we believe to continue in
the coming sessions. Ideally, we expect the index to keep up its
momentum and any sort of blip to be considered as a buying
opportunity for the coming sessions.
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Our market witnessed a gap up opening but unlike
Wednesday’s session the index kept soaring
throughout the day to conclude at 52-weeks high.
FIIs were net buyers in the cash market segment to
the tune of Rs. 1232 crores. Simultaneously, in Index
futures, they bought worth Rs. 3226 crores with
meaningful decline in open interest, indicating addition
of mixed bets with majority on the long side.
Rollover in Nifty and BankNifty stood at 82% and 88%
respectively, During the series we observed decent
longs especially in banking index and looking at the
rollover figures it seem majority of them are still intact
in the system. Meanwhile, stronger hands to rolled
over bullish bets to December series, their Long Short
Ratio’ now stands at 77%. Considering the above
development, we expect continuation of rally towards
the record high.
Comments
The Nifty futures open interest has decreased by
13.90%. and Bank Nifty futures open interest has
decreased by 3.17% as the market closed at 18484.10.
The Nifty December future closed with a premium of
142.05 point against a premium of 129.60 point in the
last trading session. The January series closed at a
premium of 232.20 point.
The INDIA VIX decreased from 14.04 to 13.49. At the
same time, the PCR-OI of Nifty has increased from
0.92 to 1.38.
Few of the liquid counters where we have seen high
cost of carry are IDEA, ICICIPRULI, AMBUJACEM, IEX
and HINDCOPPER.
Historical Volatility
SCRIP HV
PFC 33.52
HDFCLIFE 34.12
RECLTD 33.31
APOLLOHOSP 42.39
BPCL 34.04
Nifty Vs OI
17600
17800
18000
18200
18400
18600
18800
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
11/4 11/8 11/10 11/15 11/17 11/22 11/24
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
HONAUT 31785 11.94 42316.05 3.80
RECLTD 49536000 11.45 103.30 3.73
NESTLEIND 264920 3.99 19735.85 0.91
PERSISTENT 576525 3.79 3888.20 4.18
ABB 1455000 2.43 3124.95 0.64
BSOFT 10029600 2.41 292.30 5.30
ICICIPRULI 13284000 1.18 462.00 0.64
PFC 43989000 1.07 129.10 5.61
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
TORNTPOWER 2910000 -33.08 538.10 0.07
ALKEM 228200 -30.85 3100.00 -1.72
ESCORTS 996325 -25.25 2185.45 -1.34
NMDC 28513300 -25.17 117.05 -1.05
GUJGASLTD 3242500 -24.64 493.95 -0.58
LICHSGFIN 10506000 -24.42 371.30 0.99
IDEA 530600000 -22.98 8.05 -2.98
HDFCLIFE 16397700 -21.97 572.55 4.33
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.38 0.93
BANKNIFTY 1.31 1.06
RELIANCE 0.62 0.50
ICICIBANK 0.70 0.53
INFY 0.84 0.41
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Technical & Derivatives Report
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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
484.10
FII Statistics for
November
2
4
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
8950.00 5723.63 3226.37
165156 16164.43 (10.34)
INDEX
OPTIONS
1587496.09 1578968.54 8527.55
1235139 118088.17 (46.20)
STOCK
FUTURES
26581.22 24332.38 2248.84
1980716 137330.74 (4.71)
STOCK
OPTIONS
4853.67 4514.56 339.11
24735 1947.15 (79.16)
Total 1627880.98
1613539.11
14341.87
3405746
273530.49
(27.19)
Turnover on
November
2
4
, 2022
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index
Futures
334168 3257793.44
36.91
Index
Options
81802337 3277597.29
-11.53
Stock
Futures
1126272 7841218.67
36.32
Stock
Options
4683853 306222.32 -2.51
Total
46,83,853 306222.32 20.84
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
18500 346.15
61.00
39.00
18561.00
Sell
18600 285.15
Buy
18500 346.15
115.05
84.95
18615.05
Sell
18700 231.10
Buy
18600 285.15
54.05 45.95 18654.05
Sell 18700 231.10
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 18500 215.35
31.25
68.75
18468.75
Sell
18400 184.10
Buy 18500 215.35
61.90
138.10
18438.10
Sell 18300 153.45
Buy
18400 184.10
30.65 69.35 18369.35
Sell 18300 153.45
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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`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIENT
3,778
3,850
3,892 3,964
4,006
ADANIPORTS
862
869
876
883
890
APOLLOHOSP 4,535 4,675
4,754 4,894 4,973
ASIANPAINT
3,081
3,098
3,109
3,126
3,137
AXISBANK
870
874
877
882
885
BAJAJ-AUTO 3,585 3,603
3,616
3,634 3,647
BAJFINANCE 6,680 6,726
6,783 6,828
6,885
BAJAJFINSV
1,606
1,620
1,634
1,648
1,661
BPCL
306
314
318 325
329
BHARTIARTL
832
840
846
854
859
BRITANNIA 4,131 4,161
4,185
4,215
4,240
CIPLA
1,077
1,086
1,102 1,111
1,127
COALINDIA
225
227
229
231
234
DIVISLAB 3,282 3,294
3,305 3,317 3,328
DRREDDY 4,346 4,380
4,410
4,444
4,474
EICHERMOT
3,319
3,348
3,376
3,405 3,432
GRASIM
1,683
1,703
1,718 1,739
1,754
HCLTECH 1,091 1,110
1,123 1,142
1,154
HDFCBANK
1,586
1,606
1,619 1,638
1,652
HDFCLIFE
542
557
565
581
589
HDFC
2,619
2,654
2,677
2,712
2,735
HEROMOTOCO
2,632
2,652
2,667
2,687
2,701
HINDALCO
430
434
437
441
444
HINDUNILVR
2,491
2,520
2,540
2,569
2,589
ICICIBANK 923 931
936
944
949
INDUSINDBK 1,157 1,166
1,177 1,186
1,196
INFY
1,566
1,598
1,617 1,649
1,668
ITC
335
338
340
343
345
JSW STEEL
712
719
724
731
735
KOTAKBANK 1,921 1,933
1,945
1,956
1,968
LT
2,015
2,034
2,047 2,065 2,078
M&M
1,232
1,243
1,250
1,261
1,268
MARUTI 8,887 8,927
8,961
9,001 9,035
NESTLEIND
19,273
19,419
19,647
19,793
20,020
NTPC
167
168
169
170
171
ONGC 134 137
138 141 143
POWERGRID
213
217
219
223
225
RELIANCE 2,528 2,554
2,574
2,599
2,620
SBILIFE 1,210 1,225
1,235
1,251
1,261
SBIN
603
606
609
612
614
SUNPHARMA
1,005
1,020
1,029
1,044
1,052
TCS
3,276
3,328
3,360 3,413
3,445
TATACONSUM
776 784
790
798
803
TATAMOTORS 419 421
423
426
428
TATASTEEL 104 105
105
106
107
TECHM
1,037
1,053
1,062
1,078
1,087
TITAN
2,581
2,596
2,607
2,622
2,633
ULTRACEMCO
6,801
6,831
6,860 6,890
6,919
UPL 762 768
774
780
786
WIPRO
385
392
396
402
406
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Technical & Derivatives Report
NOV 25, 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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