NOV 30, 2022
www.angelone.in
Technical & Derivatives Report
xOOOOOOOO
Nifty Bank Outlook (43053)
Bank Nifty as well started on a flat note and as the day progressed,
we witnessed positive traction during the first couple of hours. The
momentum, however, started to cool down, and eventually, during
the penultimate hour, we saw profit booking that erased a major
part of morning gains to end flat a tad above 43000.
In our yesterday's outlook, we mentioned the overbought
conditions and the scenario of booking profits at higher levels.
Going ahead as well we may see some consolidation where dips
should be taken as buying opportunities whereas on the higher
side one can keep booking profit until the indicators cool down
back to the normal zone. The primary trend remains positive, and
we expect a further extension of this bull run and hence one should
avoid contra bets and focus on stock-specific opportunities that
can give outperforming moves. As far as levels are concerned,
immediate support is at 42740 followed by 42600 whereas
resistance is seen at 43350 and 43500 levels.
Key Levels
Support 1 – 42740 Resistance 1 – 43350
Support 2 – 42600 Resistance 2 – 43500
Exhibit 1: Nifty
Daily
Chart
Exhibit 2: Nifty Bank
Daily
Chart
Sensex (62682) / Nifty (18618)
The global markets continues to sulk; but despite SGX indicated a
sluggish start, we completely shrugged off this negativity to kick off
the session on a flat note. In the initial hours, the buying reinforced
in some of the heavyweight names, which pushed index at new
highs. We were about to reach yet another milestone of 18700, but
all of a sudden the traders started feeling a bit nervous. This
resulted in a modest profit booking to trim some portion of gains.
Eventually, Nifty logs highest ever close above the 18600 mark.
In last couple of sessions, although the benchmark index made new
highs, the real action has not been that pleasing. Generally, when
benchmark index makes a new high, we get to see flamboyant
moves in most of the heavyweight as well as mid and small cap
counters. But this time, such convincing moves are clearly missing.
Hence, in our sense, if broader market has to shine, we must surpass
18700 with some authority and ideally the close has to be at the
highest point of the session; which is an indication of a strong buying
interest. Hence, for the coming session, it’s important to keep a
close tab on this scenario. As far as levels are concerned, 18700
18750 are to be seen as immediate junctions; whereas on the
flipside, 18500 followed by 18400 becomes a strong demand zone.
Traders are advised to continue with an optimistic approach and
should look to identify potential themes which are likely to
provide better trading opportunities.
Key Levels
Support 1 – 18500 Resistance 1 – 18700
Support 2 – 18400 Resistance 2 18750
www.angelone.in
Technical & Derivatives Report
NOV 30, 2022
View
Our market maintained its winning streak for the sixth
consecutive session, wherein the benchmark index
Nifty50 logs a fresh high to settle above the 18600 zone
with a mere gain of 0.30 percent.
FIIs were net buyers in the cash market segment to
the tune of Rs. 1241 crores. Simultaneously, in Index
futures, they bought worth Rs. 340 crores with an
increase in open interest, indicating long addition.
Looking at the overall F&O data, we have witnessed a
long addition in both indices. On the options front, the
huge concentration of OI is visible in the 18500 put
strike, followed by 18400 PE, indicating nearby
support. On the higher end, the piling up of positions
could be seen at 18700-18800 call strikes, suggesting
the intermediate resistance for the index. Also, the
stronger hands have remained steady with their
bullish bets as the ‘Long Short Ratio’ remained
unchanged at 73%. Considering the recent price action,
the undertone is likely to remain upbeat, and any intra-
day dip could be seen as an opportunity to add longs in
the index.
Comments
The Nifty futures open interest has increased by
7.55% and Bank Nifty futures open interest has
increased by 6.79% as the market closed at 18618.05.
The Nifty December future closed with a premium of
115.55 point against a premium of 131.35 point in the
last trading session. The January series closed at a
premium of 215.65 point.
The INDIA VIX increased from 13.56 to 13.61. At the
same time, the PCR-OI of Nifty remains unchanged
at 1.28.
Few of the liquid counters where we have seen high
cost of carry are DABUR, LAURUSLAB, HINDUNILVR,
MARICO and ABCAPITAL.
Historical Volatility
SCRIP HV
IDEA 73.64
IBULHSGFIN 70.54
RBLBANK 69.12
GNFC 60.00
HINDCOPPER 59.27
Nifty Vs OI
17800
17900
18000
18100
18200
18300
18400
18500
18600
18700
18800
8,000
9,000
10,000
11,000
12,000
13,000
14,000
15,000
16,000
11/9 11/14 11/16 11/18 11/23 11/25 11/29
Openinterest Nifty
OI Gainers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
LAURUSLABS 9594100 38.50 408.60 -9.33
BANDHANBNK 65374200 14.97 234.15 4.42
UBL 908000 12.99 1680.15 0.10
ABCAPITAL 34862400 12.24 144.10 5.10
ABB 1657500 11.17 3015.20 -2.69
SRTRANSFIN 5429400 10.21 1270.30 -0.33
COALINDIA 30567600 8.06 227.20 -1.42
LALPATHLAB 832500 7.59 2413.90 -0.63
OI Losers
SCRIP OI
OI
CHG. (%)
PRICE
PRICE
CHG. (%)
ALKEM 209600 -8.15 3121.75 1.40
DELTACORP 18426800 -6.82 228.45 -1.82
VEDL 32621600 -5.41 301.85 2.60
JKCEMENT 482500 -4.93 3051.55 1.12
BHEL 125191500 -4.89 81.05 -0.12
GAIL 51688350 -4.66 94.15 1.39
MARICO 8934000 -4.49 502.40 2.92
PERSISTENT 520075 -3.51 4034.75 0.13
Put-Call Ratio
SCRIP PCR (OI) PCR (VOL)
NIFTY 1.28 1.06
BANKNIFTY 0.83 0.88
RELIANCE 0.64 0.41
ICICIBANK 0.75 0.54
INFY 0.64 0.51
www.angelone.in
Technical & Derivatives Report
NOV 30, 2022
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
618
.
0
5
FII Statistics for
November
2
9
, 2022
Detail Buy
Contracts
Open
Interest
Value
(in Cr.)
Sell
Net
CHANGE
INDEX
FUTURES
2932.22 2592.24 339.98
198956 19432.09 3.31
INDEX
OPTIONS
801503.19 806830.79 (5327.60) 1883481 185917.59 (4.30)
STOCK
FUTURES
8025.20 8324.26 (299.06) 1975576 137697.25 0.65
STOCK
OPTIONS
6776.36 6892.00 (115.64) 96393 6974.28 13.64
Total 819236.97
824639.29
(5402.32) 4154406
350021.21
(1.28)
Turnover on
November
2
9
, 2022
Instrument
No. of
Contracts
Turnover
( in Cr. )
Change
(%)
Index
Futures
210170 2092418.03
-4.37
Index
Options
148564771 3088302.92
-3.25
Stock
Futures
648745 4489699.00
-7.74
Stock
Options
2527057 356157.81 -7.53
Total
25,27,057 356157.81 -5.69
Bull-Call Spreads
Action Strike Price Risk Reward BEP
Buy
18500 392.35
68.00
32.00
18568.00
Sell
18600 324.35
Buy
18500 392.35
129.85
70.15
18629.85
Sell
18700 262.50
Buy
18600 324.35
61.85 38.15 18661.85
Sell 18700 262.50
Bear
-
Put Spreads
Action Strike Price Risk Reward BEP
Buy 18500 156.50
27.85
72.15
18472.15
Sell
18400 128.65
Buy 18500 156.50
49.85
150.15
18450.15
Sell 18300 106.65
Buy
18400 128.65
22.00 78.00 18378.00
Sell 18300 106.65
Nifty Put
-
Call Analysis
,0
500,000
1000,000
1500,000
2000,000
2500,000
3000,000
3500,000
4000,000
4500,000
18000 18100 18200 18300 18400 18500 18600 18700 18800 18900 19000 19100 19200 19300
Call Put
www.angelone.in
Technical & Derivatives Report
NOV 30, 2022
`
Daily Pivot Levels for Nifty Constituents
Scrips
S2
S1
PIVOT
R1 R2
ADANIENT 3,835 3,857
3,886 3,908
3,937
ADANIPORTS
864
871
882
888
899
APOLLOHOSP 4,622 4,671
4,756 4,805
4,891
ASIANPAINT
3,102
3,118
3,144
3,160
3,186
AXISBANK
883
888
895
900
907
BAJAJ-AUTO
3,625
3,642
3,670
3,687
3,715
BAJFINANCE
6,667
6,700
6,755 6,788
6,843
BAJAJFINSV 1,616 1,624
1,638
1,647
1,661
BPCL
333
336
339
342
345
BHARTIARTL
829
832
839
842
848
BRITANNIA
4,194
4,240
4,271
4,317
4,348
CIPLA
1,096
1,109
1,117
1,130
1,138
COALINDIA 223 225
228
230
233
DIVISLAB 3,346 3,359
3,377
3,390
3,408
DRREDDY
4,371
4,412
4,445
4,487
4,520
EICHERMOT
3,369
3,392
3,429 3,452
3,488
GRASIM
1,705
1,712
1,722
1,729
1,739
HCLTECH 1,108 1,118
1,129 1,139
1,149
HDFCBANK
1,582
1,590
1,601 1,609
1,621
HDFCLIFE
580
582
585
587
590
HDFC 2,628 2,647
2,664 2,683 2,700
HEROMOTOCO 2,748 2,788
2,813
2,853 2,878
HINDALCO
428
432
436
440
445
HINDUNILVR 2,488 2,561
2,600
2,674
2,713
ICICIBANK 927 937
943
953
960
INDUSINDBK 1,165 1,173
1,186
1,194
1,208
INFY
1,604
1,616
1,628
1,640
1,651
ITC 337 340
342
345
347
JSW STEEL
705
719
727
741
749
KOTAKBANK 1,914 1,920
1,929
1,935
1,945
LT 2,020 2,035
2,054
2,069
2,087
M&M
1,240
1,249
1,257
1,265
1,273
MARUTI 8,804 8,857
8,941
8,994 9,078
NESTLEIND
19,430
19,776
20,075
20,421
20,720
NTPC 168 169
170
171
173
ONGC
139
139
140 141 142
POWERGRID
216
218
220
222
224
RELIANCE
2,675
2,694
2,713
2,731 2,750
SBILIFE
1,235
1,246
1,260
1,272
1,285
SBIN
604
607
609
611 614
SUNPHARMA
1,028
1,039
1,045
1,056
1,062
TCS 3,357 3,377
3,403 3,423
3,449
TATACONSUM
798
801
807
810 816
TATAMOTORS
425
429
434
438
442
TATASTEEL 104 105
106
108
109
TECHM
1,065
1,070
1,078
1,082
1,090
TITAN
2,571
2,593
2,616
2,637
2,661
ULTRACEMCO 6,833 6,881
6,943 6,991 7,053
UPL 765 770
777
782
790
WIPRO
400
402
406
408 412
www.angelone.in
Technical & Derivatives Report
NOV 30, 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
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.