Technical & Derivatives Report

June 29, 2020

Sensex (35171) / Nifty (10383) Exhibit 1: Nifty Daily Chart

The previous week’s tail end surge was followed by a good start
on Monday; but the overall trading range was extremely narrow.
We continued upward momentum on the following day as well, in
fact on Wednesday, markets started with a bang at three months
high. But all of a sudden, markets took a nosedive from higher
levels. This turned out to be a profit booking after a consistent
rally of nearly 800 points in a span of 5-6 days. Last couple of days’
price action was more of a range bound action with a positive bias.
Eventually, Nifty ended the week by adding over a percent from
the previous weekly close.

During the midst of the week, we witnessed a reality check at

On the flipside, we expect the rally to continue and a move beyond
10500 and fortunately, the profit booking did not extend too
10500 would certainly unfold the next leg towards 10700 - 10850
long. In fact, prior to Friday’s session, we were hoping Nifty not to
levels. Since, there is a cluster of resistance at every 200 points up
close below 10300-10250 levels. Because this would have
move from hereon, traders are advised to take one step at a time
resulted in a formation of ‘Shooting Star’ pattern that too near
and should ideally avoid carrying aggressive bets overnight .
‘200-SMA’ on the weekly chart. However, due to Friday’s close, we
can see a formation of ‘Spinning Top’ pattern and this generally
indicates neutral bias i.e. neither the bulls dominated, nor the
Key Levels
bears had the upper hand. Ideally a close beyond 10500-10550
Support 1 – 10200 Resistance 1 – 10370
would have suggested a stronger closer but nevertheless bulls
Support 2 – 10100 Resistance 2 – 10450
somehow managed to defend their territory. Now, the week’s low
of 10194 would now be seen as a key support and as long as we
are above it, there is no reason to worry. So practically speaking,
traders are advised to trail stop losses higher at this level and a
breach of this would result in a strong bout of profit booking in
the market.

Nifty Bank Outlook - (21592)

Exhibit 2: Nifty Bank Weekly Chart
During last week, Bank Nifty resisted around 22500 and corrected
to breach the 21000 mark on Thursday. The index recovered
marginally and ended with gains of over a percent.

On the weekly chart, the Bank Nifty index has formed a 'Doji'
candle at its '20 EMA'. Thus, last week's high and low of 22480 and
20926 will be the important levels to watch for the near term. A
move beyond this range will then lead to some momentum. Until
then, traders are advised to trade with a stock specific approach.
The intraday supports for Bank Nifty are placed around 21350 and
21100 whereas resistances are seen around 22000 and 22250.

Key Levels
Support 1 – 21350 Resistance 1 – 22000
Support 2 – 21100 Resistance 2 – 22250

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June 29, 2020

Comments Nifty Vs OI
 The Nifty futures open interest has increased by 9.31% (`000) Openinterest Nifty
16,000 10600
Bank Nifty futures open interest has decreased by 5.32%
as market closed at 10383 levels. 14,000
10400
 The Nifty July future closed with a discount of 65 point 12,000
against a discount of 43.25 point in last trading session. 10200
The August series closed at a discount of 67.6 point. 10,000

 The INDIA VIX has decreased from 29.72 to 28.73 8,000 10000
At the same time, the PCR-OI of Nifty dereased from 1.50
6,000
to 1.33. 9800
 Few of the liquid counters where we have seen high cost 4,000
of carry are IDEA, GMRINFRA, INDUSINDBNK, IDFCFIRSTB 2,000
9600

AND SAIL. 6/9 6/11 6/15 6/17 6/19 6/23 6/25

,0 9400

Views
 On Friday, Nifty witnessed a gap up opening and was
followed by choppy moves within a 100 points range. OI Gainers
Nifty eventually ended with gains of 0.91% at 10383. OI PRICE
SCRIP OI PRICE
CHG. (%) CHG. (%)
 FIIs were net sellers in the cash market segment to the IDEA 365680000 111.33 10.40 5.53
tune of Rs. 753 crores. In index futures, they sold MINDTREE 1749600 33.44 949.10 3.47
worth 190 crores with a increase in open interest GLENMARK 4839200 28.45 466.70 0.96

indicating short formations created on Friday. JUSTDIAL 1384600 23.32 392.55 3.45
APOLLOHOSP 1380000 21.32 1388.15 -4.18
 As far as Nifty options activities for the week are UBL 856100 18.62 1018.00 -3.36
concerned, we witnessed open interest addition in UJJIVAN 2985400 17.69 237.60 5.73
10500 call option. On the flipside, open interest CUMMINSIND 1434000 14.24 410.60 1.53
addition was seen in 10000 put option. Maximum
open interest for the weekly series is at 11000 call
option and 10000 put option. The weekly options data OI Losers
indicates a probable trading range of 10000-10500 for OI PRICE
SCRIP OI PRICE
the coming week. Thus, there is possibility of some CHG. (%) CHG. (%)
consolidation and hence, traders are advised to trade MFSL 1236300 -17.66 515.55 -3.17
with a stock specific approach. CANBK 9700000 -10.23 104.50 -0.86
IBULHSGFIN 11315000 -7.24 227.65 -0.15
GODREJPROP 386100 -7.04 868.25 -1.82
RECLTD 12858000 -5.88 112.65 -1.87
LICHSGFIN 7532000 -4.92 270.90 0.58
PEL 3769150 -4.43 1343.10 -0.17
HEROMOTOCO 2658900 -4.32 2540.45 -0.80

Historical Volatility Put-Call Ratio

SCRIP HV SCRIP PCR-OI PCR-VOL
INFY 48.36 NIFTY 1.33 0.85
ITC 45.84 BANKNIFTY 0.78 0.83
TCS 42.72 RELIANCE 0.60 0.48
UJJIVAN 77.39 ICICIBANK 0.54 0.51
IOC 45.17 INFY 0.83 0.49

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FII Statistics for June 26, 2020 Turnover on June 26, 2020
Open Interest
No. of Turnover Change
Detail Buy Sell Net Instrument
Value Change Contracts ( in Cr. ) (%)
Contracts
(in Cr.) (%)
INDEX
5797.58 5987.49 (189.91) 109015 7912.36 18.55 Index Futures 5,74,849 36351.66 -39.85
FUTURES
INDEX
152369.78 151434.09 935.69 531878 37026.73 25.41 Index Options 1,20,57,145 7,14,914.74 -81.89
OPTIONS
STOCK
16109.41 15746.50 362.91 1276258 82783.96 0.78 Stock Futures 8,35,607 53803.86 -45.05
FUTURES
STOCK
3437.43 3730.48 (293.05) 49098 3201.89 159.78 Stock Options 6,87,159 47885.76 -17.09
OPTIONS

Total 177714.20 176898.56 815.64 1966249 130924.94 9.16 Total 1,41,54,760 8,52,956.02 -79.51

Nifty Spot = 10383

Bull-Call Spreads Bear-Put Spreads

Action Strike Price Risk Reward BEP Action Strike Price Risk Reward BEP

Buy 10400 284.60 Buy 10400 368.05

46.15 53.85 10446.15 43.80 56.20 10356.20
Sell 10500 238.45 Sell 10300 324.25

Buy 10400 284.60 Buy 10400 368.05

87.90 112.10 10487.90 87.35 112.65 10312.65
Sell 10600 196.70 Sell 10200 280.70

Buy 10500 238.45 Buy 10300 324.25

41.75 58.25 10541.75 43.55 56.45 10256.45
Sell 10200 280.70
Sell 10600 196.70

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

Nifty Put-Call Analysis

2500,000
Call Put

2000,000

1500,000

1000,000

500,000

,0
9700 9800 9900 10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000

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Daily Pivot Levels for Nifty Constituents

Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 335 339 344 348 353
ASIANPAINT 1,650 1,668 1,689 1,708 1,729
AXISBANK 413 419 424 430 435
BAJAJ-AUTO 2,789 2,828 2,864 2,903 2,939
BAJFINANCE 2,758 2,831 2,945 3,018 3,132
BAJAJFINSV 5,720 5,833 5,983 6,097 6,247
BPCL 364 379 388 403 412
BHARTIARTL 552 556 561 565 571
INFRATEL 210 215 223 229 237
BRITANNIA 3,411 3,434 3,467 3,489 3,522
CIPLA 625 630 637 642 649
COALINDIA 138 140 142 144 145
DRREDDY 3,910 3,954 4,010 4,054 4,110
EICHERMOT 17,920 18,197 18,374 18,651 18,828
GAIL 102 103 104 106 107
GRASIM 601 609 618 625 634
HCLTECH 532 547 560 576 589
HDFCBANK 1,014 1,035 1,049 1,070 1,084
HDFC 1,726 1,748 1,774 1,795 1,821
HEROMOTOCO 2,494 2,517 2,554 2,577 2,614
HINDALCO 147 149 150 153 154
HINDUNILVR 2,116 2,135 2,157 2,177 2,199
ICICIBANK 339 344 351 356 364
IOC 84 87 88 91 92
INDUSINDBK 472 482 492 502 511
INFY 695 722 737 763 778
ITC 183 189 199 205 215
JSW STEEL 188 190 194 196 200
KOTAKBANK 1,294 1,317 1,350 1,373 1,406
LT 924 943 960 979 995
M&M 489 495 505 512 522
MARUTI 5,638 5,697 5,753 5,812 5,868
NESTLEIND 16,446 16,562 16,746 16,862 17,046
NTPC 95 96 97 98 99
ONGC 82 83 84 85 86
POWERGRID 176 178 180 181 184
RELIANCE 1,702 1,722 1,737 1,757 1,772
SHREECEM 21,526 22,025 22,362 22,861 23,199
SBIN 181 183 186 188 190
SUNPHARMA 462 471 481 490 500
TCS 1,978 2,049 2,090 2,161 2,202
TATAMOTORS 97 99 103 105 108
TATASTEEL 318 321 325 328 333
TECHM 540 551 563 573 585
TITAN 945 955 973 983 1,001
ULTRACEMCO 3,744 3,802 3,838 3,896 3,932
UPL 431 436 443 448 455
VEDANTA 107 108 111 112 115
WIPRO 213 219 225 231 236
ZEEL 170 173 177 180 184

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Technical and Derivatives Team:

Sameet Chavan Chief Analyst - Technical & Derivatives sameet.chavan@angelbroking.com

Ruchit Jain Senior Analyst - Technical & Derivatives ruchit.jain@angelbroking.com

Rajesh Bhosale Technical Analyst rajesh.bhosle@angelbroking.com

Sneha Seth Derivatives Analyst sneha.seth@angelbroking.com

Research Team Tel: 022 – 39357600 (Extn. 6844) Website: www.angelbroking.com

For Technical & Derivatives Queries E-mail: technicalresearch-cso@angelbroking.com

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