July 29, 2022
www.angelone.in
Technical & Derivatives Report
OOOOOOOO
Nifty Bank Outlook - (37378)
Bank Nifty as well started the expiry session with a huge gap up
opening, and with positive momentum throughout the day ended with
gains of over 1.50% at 37378.
The bank nifty has witnessed a remarkable run for the July series as it
rallied more than 11% and has been the charioteer of the recent up
move. During this run, bulls broke above crucial resistance one by one
and are now placed in a very strong position. With a day to go for the
weekly candle to complete, prices have already broken above a trend
line resistance formed by joining all-time high to the recent lower tops;
confirmation of this breakout can fuel a rally in August month as well.
Having said that, traders are advised not to be complacent and keep
booking timely profits as the oscillators have entered the overbought
zone and inbetween bouts of profit booking cannot be ruled out. The
ideal strategy would be to have a stock-specific approach and for
index-specific trades, they should prefer dips to add longs. As far as
levels are concerned, immediate support is placed at 37000 - 36800
levels whereas resistance is at 37500 - 38000 levels.
Key Levels
Support 1 – 37000 Resistance 1 – 37500
Support 2 – 36800 Resistance 2 – 38000
Exhibit 2: Nifty Bank Daily Chart
Sensex (56858) / Nifty (16930)
US Fed chairman did not shock the markets this time as they announced
a rate hike of 75 bps which was very much in line with expectations. In
fact, the dovish commentary lifted the overall sentiments in US
markets, which had a favorable rub off effect in our markets at the
opening yesterday. We started the session with a decent bump up
above the 16750 mark, which kept on accelerating as the day
progressed. Eventually, the benchmark index Nifty managed to close at
3-month high by adding more than 1.70% to the previous close.
Our market had shown a glimpse of some strength during Wednesday’s
session and with global market boost, we managed to extend the move
beyond the 16900 mark. With yesterday’s strong rally, 17000 is very
much in sight now which is also closer to the ‘200-SMA’ level of 17030.
Most likely, we would see index hastening towards this junction in the
coming session as well and then we’ll have to see whether market
participants opts to take some money there or they continue to move
towards 17200. In our sense, the bias remains strongly bullish and any
decline towards 16830 – 16750 should be used to go long. However
having said that, it’s advisable not to get too complacent at this
juncture and hence, one needs to follow one step at a time strategy.
Key Levels
Support 1 – 16830 Resistance 1 – 17030
Support 2 – 16750 Resistance 2 – 17200
Apart from this, we witnessed a good broad based participation in
last couple of days and hence, one should keep focusing on such
potential candidates who are likely to outperform the key indices
going forward.
www.angelone.in
Technical & Derivatives Report
July 29, 2022
View
Our market has seen a strong day of trade on the
expiry session amid favorable global conditions. The
benchmark index Nifty50 gained over 1.70 percent to
close a tad above 16900 levels.
FIIs were net buyers in the cash market segment to
the tune of Rs. 1638 crores. Simultaneously, in Index
futures, they bought worth Rs. 1797 crores with a
decrease in open interest, indicating short covering.
Looking at the F&O data, we have witnessed short
covering in both indices on the expiry day. Rollover for
Nifty stood at 76%; which is higher than previous series
and in case of banking index it’s slightly lower at 82%.
In NIFTY options, the concentration of OI is seen at the
16800-16700 put strikes, which is likely to be seen as
immediate support. While on the contrary, a
considerable OI concentration is built on the 17000 call
strike, which is expected to act as the primary
resistance for the index. Considering the recent
developments and price action, our market is likely to
remain upbeat, wherein any minor correction could be
utilized to add long positions. Also, it is advisable to
look for opportunities outside the index and stay
abreast with global developments.
Comments
The Nifty futures open interest has decreased by
15.76%. and BANK Nifty futures open interest has
decreased by 25.8% as the market closed at 16929.60.
The Nifty Aug future closed with a premium of 25.60
point against a premium of 11.50 point in the last
trading session. The Sep series closed at a premium
of 70.45 point.
The INDIA VIX decreased from 18.13 to 17.01. At the
same time, the PCR-OI of Nifty has increased from
1.24 to 1.43.
Few of the liquid counters where we have seen high
cost of carry are BAJFINANCE, BAJAJFINSV,
IBULHSGFIN, BIOCON and NESTLEIND.
Historical Volatility
SCRIP HV
IDEA 86.03
IBULHSGFIN 76.66
RBLBANK 73.37
ZEEL 66.70
HINDCOPPER 66.47
Nifty Vs OI
15200
15400
15600
15800
16000
16200
16400
16600
16800
17000
17200
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
7/12 7/14 7/18 7/20 7/22 7/26 7/28
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
BIOCON 17231600 19.47 306.75 -5.03
SBICARD 6996000 15.37 929.20 4.52
DIXON 744375 6.78 3578.50 -3.57
LAURUSLABS 6621300 5.51 525.25 2.15
ASTRAL 691075 5.06 1791.85 0.29
HDFCLIFE 30991400 4.29 531.65 2.35
M&MFIN 24760000 3.43 197.20 -0.58
BALRAMCHIN 6507200 2.34 383.80 2.27
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
IBULHSGFIN 21360000 -48.29 114.75 12.08
ONGC 45957450 -39.24 130.25 1.59
CUB 5240000 -38.28 161.15 0.28
CONCOR 4008000 -32.93 686.05 0.79
COALINDIA 31941000 -31.01 202.85 -0.37
M&M 10845100 -29.90 1149.15 1.21
ACC 2077000 -29.42 2180.80 -0.42
DELTACORP 13751700 -27.89 193.25 0.34
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.43 1.00
BANKNIFTY 1.09 0.90
RELIANCE 0.58 0.38
ICICIBANK 0.72 0.46
INFY 0.66 0.40
www.angelone.in
Technical & Derivatives Report
July 29, 2022
Note: Above mentioned Bullish or Bearish Spreads in Nifty (Aug Series) are given as an information and not as a recommendation.
Nifty Spot = 16
,
929
.
6
0
FII Statistics for
July
2
8
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
8437.42 6640.09 1797.33
115923 10094.20 (26.80)
INDEX
OPTIONS
1838280.83 1835046.14 3234.69
761561 65914.09 (53.52)
STOCK
FUTURES
25745.50 24731.94 1013.56
2127195 141436.39 (6.27)
STOCK
OPTIONS
5513.41 5581.54 (68.13) 35764 2413.83 (75.41)
Total 1877977.16
1871999.71
5977.45
3040443
219858.51
(27.81)
Turnover on
July
2
8
, 2022
Instrument
No. of
Contracts
Turnov
er
( in Cr.
)
Change
(%)
Index Futures
643627 56453.94 37.98
Index Options
252822959 22543435.75 120.73
Stock Futures
2381818 156274.27 12.61
Stock Options
3659778 252825.95 -8.49
Total
36,59,778 252825.95 115.66
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
16900 323.15
53.60
46.40
16953.60
Sell
17000 269.55
Buy
16900 323.15
100.10
99.90
17000.10
Sell
17100 223.05
Buy
17000 269.55
46.50 53.50 17046.50
Sell
17100 223.05
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 16900 273.10
37.95
62.05
16862.05
Sell
16800 235.15
Buy 16900 273.10
73.45
126.55
16826.55
Sell 16700 199.65
Buy
16800 235.15
35.50 64.50 16746.50
Sell
16700 199.65
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
16200 16300 16400 16500 16600 16700 16800 16900 17000 17100 17200 17300 17400 17500
Call Put
www.angelone.in
Technical & Derivatives Report
July 29, 2022
`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIPORTS
753
759
764
770
775
APOLLOHOSP
4,106
4,148
4,177
4,219
4,248
ASIANPAINT
3,147
3,210
3,245 3,308 3,343
AXISBANK
717
721
728
732
738
BAJAJ-AUTO 3,806 3,832
3,873 3,899
3,940
BAJFINANCE
6,315
6,696
6,903 7,284
7,491
BAJAJFINSV 12,741 13,692
14,457
15,408
16,174
BPCL
319
322
326
329
333
BHARTIARTL
655
661
670
676
685
BRITANNIA
3,817
3,843
3,863 3,889 3,908
CIPLA
955
961
970
976
985
COALINDIA
199
201
203
205
207
DIVISLAB 3,743 3,797
3,828
3,881
3,913
DRREDDY
4,137
4,198
4,257
4,318
4,377
EICHERMOT 3,006 3,030
3,055
3,079
3,104
GRASIM
1,523
1,537
1,552
1,566
1,581
HCLTECH 926 936
943
953
959
HDFCBANK
1,404
1,411
1,417
1,424
1,430
HDFCLIFE 513 522
529
539
545
HDFC
2,307
2,323
2,334 2,349
2,361
HEROMOTOCO
2,725
2,753
2,782
2,810
2,840
HINDALCO
382
387
391
396 401
HINDUNILVR 2,570 2,595
2,610
2,635
2,650
ICICIBANK
802
808
812 818
822
INDUSINDBK
978
998
1,009
1,029
1,040
INFY
1,476
1,497
1,511
1,531
1,545
ITC 301 302
304
305
306
JSW STEEL
592
604
616
628
639
KOTAKBANK
1,742
1,785
1,808
1,852
1,875
LT
1,772
1,787
1,801
1,816
1,830
M&M 1,129 1,139
1,146
1,156
1,162
MARUTI 8,565 8,643
8,707 8,785
8,848
NESTLEIND
18,087
18,600
18,972
19,485
19,857
NTPC 148 149
150 151
152
ONGC
127
129
130 131
132
POWERGRID
208
211
213
216
218
RELIANCE 2,402 2,429
2,449
2,476
2,496
SBILIFE 1,130 1,161
1,178
1,208
1,225
SHREECEM
19,110
19,763
20,692
21,345
22,275
SBIN
525
529
533
537 541
SUNPHARMA
872
883
890
902
908
TCS
3,180
3,220
3,242 3,282
3,304
TATACONSUM
794
800
805
811 816
TATAMOTORS 418 430
440
452 461
TATASTEEL 95 98
100 103 105
TECHM
1,004
1,021
1,032
1,049
1,060
TITAN
2,291
2,313
2,327
2,349 2,364
ULTRACEMCO
6,377
6,424
6,492
6,539
6,607
UPL
715
721
726
733
737
WIPRO
409
412
415 418 421
www.angelone.in
Technical & Derivatives Report
July 29, 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 (Extn. 6844) Website: www.angelone.in
For Technical Queries E-mail: technicalresearch-cso@angelone.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.