Technical & Derivatives Report

August 10, 2020

Sensex (38041) / Nifty (11214) Exhibit 1: Nifty Daily Chart

We inaugurated the week on Monday on a flat note; however, right

from the word go, markets looked a bit depressed and as a result,
we witnessed sustained selling throughout the day. Eventually, the
Nifty marked the weakest session in the recent past. However, the
‘200-SMA’ level of 10870 acted as a sheet anchor for the bulls and
despite the strong selling momentum there, Nifty managed to hold
this sacrosanct support. The optimist traders somehow managed to
sail through this difficult session and hence, with the help of
positivity across the globe, our markets too started rebounding
sharply. Post the smart recovery on Tuesday, the index consolidated
by maintaining its positive posture to conclude the action-packed
week tab above the 11200 mark.
Markets were on recovery mode first and then remained in a slender
In our opinion, the way markets are placed, this week would be quite range of 150 points for three sessions. Looking at the benchmark
crucial and hence, one should be keeping a close eye on few key index, it might appear a boring week (especially the second half); but
levels. Although the market has managed to recover well, it would if we meticulously observe the price action in the broader markets,
be a daunting task surpassing the sturdy wall of 11300-11350. Till we would rate it as one of the finest weeks for individual stocks in
the time it is not conquered successfully, we advocate some caution. the last few weeks. Finally, on Friday, the NIFTY MIDCAP 50 index
Let’s understand, technically, why this should be considered an posted a smart rally to surpass its recent hurdles. Hence, traders are
important junction. Firstly, the 78.6% retracement of the entire fall advised to stay focused on individual stocks in this week; but the
from 12430.50 to 7511.10 comes around it. Secondly, the 100% aggressive positions should be avoided till the time important levels
‘Price Extension’ of the first up leg (7511.10 - 9889.05) from are not surpassed convincingly.
8806.75 precisely coincides around 11300-11350. And now we are
standing at the pullback level of the ‘Parabolic SAR’ which has been
following the entire uptrend, has finally given some sign of weakness Key Levels

(due to Monday’s negative close) for the first time in the entire up Support 1 – 11127 Resistance 1 – 11300

move. Considering all these observations, we advise traders to stay Support 2 – 11100 Resistance 2 – 11350
light and should ideally take some money off the table. On the
downside, a move below 11100 would lead to immediate correction
towards 10950 - 10880.

Nifty Bank Outlook - (21754) Exhibit 2: Nifty Bank Daily Chart

On Friday, Bank nifty started on a positive note and then traded in

a range throughout the session to eventually end with half a
percent gains tad above 21750 levels.

During the last week, the bank nifty started on a strong negative
note however on our expected line it respected the support of
swing low at 21000 that triggered a smart bounce back. In the
second half of the week, the bank nifty traded within a range with
the levels around 22000 acted as a stiff resistance. In this week,
Bank Nifty may remain in the range of 21000 - 22000 and the next
directional move can only be seen on a range breakout from the
above levels. Traders are advised to keep a tab on the above levels
and trade accordingly.

Key Levels
Support 1 – 21370 Resistance 1 – 21936
Support 2 – 21000 Resistance 2 – 22000

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August 10, 2020

Comments Nifty Vs OI
 The Nifty futures open interest has increased by 1.72% (`000) Openinterest Nifty
Bank Nifty futures open interest has increased by 4.36% 16,000 11400

as market closed at 11214.05 levels. 14,000 11300

 The Nifty August future closed with a premium of 12.15
point against a discount of 0.65 point in last trading 12,000 11200

session. The September series closed at a premium of 10,000 11100

21.45 point.
 The INDIA VIX has decreased from 23.15 to 22.58 8,000 11000

At the same time, the PCR-OI of Nifty increased from 1.49 6,000 10900
to 1.60.
Few of the liquid counters where we have seen high cost
4,000 10800

of carry are PNB, GMRINFRA, BHEL, L&TFH AND 2,000 10700
BANKBARODA. 7/20 7/22 7/24 7/28 7/30 8/3 8/5 8/7
,0 10600

Views
The indices started the week on a negative note, but it
OI Gainers

recovered in Tuesday’s session due to long formation in
OI PRICE
Nifty and short covering in Bank Nifty. For the rest of SCRIP OI PRICE
CHG. (%) CHG. (%)
the week, both the indices consolidated within a range. TORNTPOWER 2823000 105.46 337.10 3.13
RBLBANK 25979200 43.38 191.30 10.15
 FIIs were net buyers in the cash market segment to the
CENTURYTEX 3836000 42.56 323.70 6.69
tune of Rs. 397 crores. In index futures, the activity was
IDEA 423220000 33.70 8.85 7.23
muted as they sold worth 63 crores with increase in
TVSMOTOR 6382600 19.60 421.50 1.06
open interest. TITAN 7836000 15.05 1091.05 -2.64
MGL 1148400 15.02 969.00 -1.09
 FII’s started this series with long positions in index
SRF 751750 14.29 4081.30 6.48
futures; however they unwound some of their longs in
this week and their ‘Long Short Ratio’ now stands at
58.4 percent. Inspite of some consolidation in the
indices, there was good stock specific action during the OI Losers
OI PRICE
week. The data indicates continuation of a trading SCRIP OI PRICE
CHG. (%) CHG. (%)
range of 11000-11300 for this week and thus, traders
CANBK 14255000 -12.47 101.90 1.09
are advised to trade with a stock specific approach..
MANAPPURAM 20328000 -10.58 161.60 4.57
NIITTECH 450000 -8.40 1988.75 -1.71
CADILAHC 9369800 -7.89 390.90 0.33
PIDILITIND 3765500 -6.64 1378.25 3.30
TORNTPHARM 1658500 -5.39 2941.05 -0.84
UPL 14086800 -5.15 480.30 3.48
CHOLAFIN 5665000 -4.99 208.75 1.38

Historical Volatility Put-Call Ratio

SCRIP HV SCRIP PCR-OI PCR-VOL
LUPIN 45.64 NIFTY 1.60 0.94
APOLLOTYRE 52.47 BANKNIFTY 0.97 0.84
TATACONSUM 58.81 RELIANCE 0.76 0.55
SRF 56.54 ICICIBANK 0.50 0.47
ASIANPAINT 41.20 INFY 0.72 0.67

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August 10, 2020

FII Statistics for August 07, 2020 Turnover on August 07, 2020
Open Interest
No. of Turnover Change
Detail Buy Sell Net Instrument
Value Change Contracts ( in Cr. ) (%)
Contracts
(in Cr.) (%)
INDEX
2947.29 3010.61 (63.32) 110519 8473.56 7.56 Index Futures 3,97,038 25743.18 -25.52
FUTURES
INDEX
134408.89 134993.59 (584.70) 597338 47267.57 15.10 Index Options 1,21,11,054 8,33,467.03 -78.19
OPTIONS
STOCK
13071.09 14380.81 (1309.72) 1276881 88952.01 (0.05) Stock Futures 7,77,771 57051.60 -2.03
FUTURES
STOCK
3991.66 4007.78 (16.12) 69683 4737.16 4.32 Stock Options 9,53,281 75046.42 2.04
OPTIONS

Total 154418.93 156392.79 (1973.86) 2054421 149430.30 4.49 Total 1,42,39,144 9,91,308.23 -75.15

Nifty Spot = 11214.05

Bull-Call Spreads Bear-Put Spreads

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

Buy 11200 220.55 Buy 11200 194.20

51.75 48.25 11251.75 39.75 60.25 11160.25
Sell 11300 168.80 Sell 11100 154.45

Buy 11200 220.55 Buy 11200 194.20

95.85 104.15 11295.85 74.35 125.65 11125.65
Sell 11400 124.70 Sell 11000 119.85

Buy 11300 168.80 Buy 11100 154.45

44.10 55.90 11344.10 34.60 65.40 11065.40
Sell 11000 119.85
Sell 11400 124.70

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

Nifty Put-Call Analysis

3500,000

Call Put
3000,000

2500,000

2000,000

1500,000

1000,000

500,000

,0
10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700 11800 11900 12000

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Daily Pivot Levels for Nifty Constituents

Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 319 323 326 329 332
ASIANPAINT 1,692 1,749 1,783 1,840 1,874
AXISBANK 423 428 432 438 442
BAJAJ-AUTO 2,955 2,978 2,999 3,022 3,043
BAJFINANCE 3,247 3,356 3,419 3,527 3,590
BAJAJFINSV 6,156 6,311 6,406 6,561 6,656
BPCL 407 413 417 424 428
BHARTIARTL 547 554 559 565 570
INFRATEL 186 189 191 195 197
BRITANNIA 3,815 3,875 3,910 3,970 4,005
CIPLA 716 722 731 737 746
COALINDIA 128 129 130 131 131
DRREDDY 4,467 4,520 4,614 4,667 4,760
EICHERMOT 21,254 21,531 21,837 22,113 22,420
GAIL 95 96 97 98 98
GRASIM 622 629 636 643 649
HCLTECH 677 684 692 698 707
HDFCBANK 1,011 1,027 1,037 1,054 1,064
HDFC 600 604 609 612 617
HEROMOTOCO 1,755 1,767 1,774 1,785 1,793
HINDALCO 2,649 2,678 2,699 2,727 2,749
HINDUNILVR 174 176 177 179 181
ICICIBANK 2,187 2,199 2,217 2,229 2,247
IOC 350 354 357 361 363
INDUSINDBK 84 85 87 88 90
INFY 483 496 505 518 526
ITC 936 943 956 964 977
JSW STEEL 193 194 196 197 199
KOTAKBANK 234 237 239 242 244
LT 1,313 1,328 1,338 1,352 1,362
M&M 906 911 919 924 932
MARUTI 587 594 605 612 623
NESTLEIND 6,369 6,524 6,637 6,792 6,904
NTPC 16,405 16,597 16,748 16,940 17,091
ONGC 85 85 86 87 87
POWERGRID 77 78 79 79 80
RELIANCE 174 175 176 178 179
SHREECEM 2,104 2,125 2,141 2,163 2,179
SBIN 21,416 21,663 21,869 22,116 22,321
SUNPHARMA 188 189 191 192 193
TCS 515 521 528 533 541
TATAMOTORS 2,262 2,279 2,303 2,320 2,344
TATASTEEL 115 117 118 121 122
TECHM 388 396 401 409 415
TITAN 648 655 662 669 675
ULTRACEMCO 1,057 1,074 1,103 1,120 1,148
UPL 3,930 3,967 4,020 4,057 4,109
VEDANTA 458 469 477 488 496
WIPRO 273 275 279 281 284
ZEEL 148 149 150 151 153

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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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