Technical & Derivatives Report

July 21, 2020

Sensex (37419) / Nifty (11022) Exhibit 1: Nifty Daily Chart

Nifty started trading for the week with a gap up opening around
the 11000 mark. This was much expected as Nifty gave a breakout
from a consolidation on Friday and ended above its resistance level.
After a gap up opening, index consolidated with a range and traded
with a positive bias to end the day with gains of over a percent.

Yesterday’s positive move in the indices was on the expected lines

and the Nifty finally surpassed the 11000 mark. The upmove was
supported by a broader market participation with leadership seen
from the Banking and Financial stocks at the start of the day, and
then supported by the IT heavyweights in the closing hour. As
mentioned in our weekly update, this upmove should ideally extend
towards the 78.6 percent retracement zone at 11100-11200.
Hence, traders are advised to continue to trade with a positive bias
and avoid taking any contra trades. Around 11200, traders can look
to book profits and take some money off the table. On the flipside,
10920-10900 is the immediate support range and traders should
look for buying opportunities in any intraday declines towards the
support.

Key Levels
Support 1 – 10920 Resistance 1 – 11100
Support 2 – 10900 Resistance 2 – 11200

Nifty Bank Outlook - (22322) Exhibit 2: Nifty Bank Daily Chart

Due to Friday’s late surge in banking conglomerates, the stage was
all set for a bump up opening to start the new trading week. The
stellar Q1 numbers from the banking giant, HDFC Bank became
the catalyst for this head start. However, in the absence of follow
up buying, the banking index slipped into a consolidation mode
and remained range bound to conclude the session almost near
the opening point.

The Bank Nifty is now convincingly above it’s recent hurdle of

22000, which is a sign of strength. In our sense, any decline
towards 22150-22000 is likely to get bought into and the moment
it surpasses 22450-22500, we may see an extension towards
22800-23000 levels. Traders are advised to stay positive and try
to identify potential movers within this space, which are likely to
provide better trading opportunities.

Key Levels
Support 1 – 22150 Resistance 1 – 22500
Support 2 – 22000 Resistance 2 – 23000

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Comments Nifty Vs OI
 The Nifty futures open interest has increased by 3.83% (`000) Openinterest Nifty
Bank Nifty futures open interest has increased by 1.98% 14,000 11000

as market closed at 11022.20 levels. 13,500 10900

 The Nifty July future closed with a discount of 13.6 point
10800
against a premium of 3.35 point in last trading session. 13,000

The August series closed at a discount of 5.1 point.

10700
12,500
 The INDIA VIX has increased from 24.15 to 24.71 10600
12,000
At the same time, the PCR-OI of Nifty decreased from 10500
1.76 to 1.75. 11,500
10400
 Few of the liquid counters where we have seen high cost
11,000
of carry are L&TFH, CENTURYTEX, CANBK, NCC, AND 10300

ESCORTS 10,500 10200

10,000 10100
7/1 7/2 7/3 7/6 7/7 7/8 7/9 7/107/137/147/157/167/17

Views
The week started on a strong note with a gap up
OI Gainers

opening. Subsequently, Index traded within a range for
OI PRICE
the major part and ended with gains of 1.11% at 11022. SCRIP OI PRICE
CHG. (%) CHG. (%)
M&MFIN 21863100 90.02 229.60 6.74
 FIIs were net buyers in the cash market segment to the
KOTAKBANK 9666400 12.14 1319.05 -1.05
tune of Rs. 1710 crores. In index futures, the activity was
ADANIENT 21768000 11.88 160.70 6.04
muted as they sold worth 68.11 crores with increase in
EQUITAS 11825600 10.51 58.35 5.88
open interest.
CHOLAFIN 6822500 6.64 215.20 4.16
HDFCBANK 44255200 6.62 1133.05 2.89
 Nifty started trading for the week on a positive note,
ZEEL 24903000 6.59 154.75 -1.90
long formation was seen in the index wherein open
UPL 14671800 6.23 453.65 3.94
interest increased by about 4 percent along with price
upmove. FII's bought equities in the cash segment
which supported the upmove. In options segment, in-
the-money call options of 10800 and 10900 strikes saw OI Losers
OI PRICE
unwinding of positions whereas OI addition was seen in SCRIP OI PRICE
CHG. (%) CHG. (%)
11200-11500 strikes. On the flipside, 11000-10800 put
BRITANNIA 1612000 -24.16 3982.65 5.05
options added fresh open interest indicating support
RBLBANK 20514000 -11.00 174.70 3.12
shifting higher. We continue with our advice for traders
GLENMARK 6904600 -9.61 418.65 -2.54
to trade with a positive bias and look for buying
TATACHEM 3298000 -8.74 306.30 1.81
opportunities in intraday declines.
DIVISLAB 4403200 -8.34 2298.80 1.19
MFSL 1591200 -7.76 569.15 -1.08
FEDERALBNK 57349500 -6.72 53.70 2.96
CANBK 11470000 -5.98 103.00 0.68

Historical Volatility Put-Call Ratio

SCRIP HV SCRIP PCR-OI PCR-VOL
M&MFIN 82.41 NIFTY 1.75 0.91
BRITANNIA 50.92 BANKNIFTY 0.92 0.79
ADANIENT 61.66 RELIANCE 0.63 0.41
SUNPHARMA 46.89 ICICIBANK 0.47 0.39
HCLTECH 47.36 INFY 1.58 0.83

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FII Statistics for July 20, 2020 Turnover on July 20, 2020
Open Interest
No. of Turnover Change
Detail Buy Sell Net Instrument
Value Change Contracts ( in Cr. ) (%)
Contracts
(in Cr.) (%)
INDEX
4151.75 4219.86 (68.11) 117969 8533.91 3.82 Index Futures 4,49,467 29561.75 -10.53
FUTURES
INDEX
189941.86 190240.88 (299.02) 782308 58335.52 6.42 Index Options 1,63,68,040 10,03,760.61 14.79
OPTIONS
STOCK
14904.96 15179.98 (275.02) 1308733 90326.78 0.47 Stock Futures 8,72,341 59006.44 -5.15
FUTURES
STOCK
4591.02 4613.13 (22.11) 113445 7866.17 (0.63) Stock Options 12,96,022 95044.31 -9.88
OPTIONS

Total 213589.59 214253.85 (664.26) 2322455 165062.38 2.51 Total 1,89,85,870 11,87,373.11 10.44

Nifty Spot = 11022.20

Bull-Call Spreads Bear-Put Spreads

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

Buy 11000 159.05 Buy 11000 151.95

48.80 51.20 11048.80 38.15 61.85 10961.85
Sell 11100 110.25 Sell 10900 113.80

Buy 11000 159.05 Buy 11000 151.95

88.15 111.85 11088.15 68.10 131.90 10931.90
Sell 11200 70.90 Sell 10800 83.85

Buy 11100 110.25 Buy 10900 113.80

39.35 60.65 11139.35 29.95 70.05 10870.05
Sell 10800 83.85
Sell 11200 70.90

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

3000,000

Call Put
2500,000

2000,000

1500,000

1000,000

500,000

,0
10400 10500 10600 10700 10800 10900 11000 11100 11200 11300 11400 11500 11600 11700

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Daily Pivot Levels for Nifty Constituents

Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 307 312 315 321 324
ASIANPAINT 1,706 1,729 1,743 1,766 1,780
AXISBANK 422 428 435 441 449
BAJAJ-AUTO 2,953 2,978 2,999 3,024 3,045
BAJFINANCE 3,267 3,354 3,404 3,491 3,541
BAJAJFINSV 6,290 6,455 6,545 6,710 6,800
BPCL 427 432 440 445 453
BHARTIARTL 560 568 575 583 590
INFRATEL 186 195 202 210 217
BRITANNIA 3,742 3,862 3,928 4,048 4,113
CIPLA 661 668 679 686 698
COALINDIA 130 132 133 135 136
DRREDDY 4,025 4,058 4,106 4,140 4,188
EICHERMOT 18,565 18,876 19,078 19,389 19,591
GAIL 99 99 101 101 102
GRASIM 585 594 603 612 621
HCLTECH 617 633 642 658 668
HDFCBANK 1,108 1,121 1,137 1,149 1,165
HDFC 1,774 1,790 1,817 1,833 1,860
HEROMOTOCO 2,694 2,777 2,825 2,908 2,957
HINDALCO 158 159 161 163 164
HINDUNILVR 2,282 2,307 2,325 2,349 2,368
ICICIBANK 350 357 362 368 373
IOC 85 87 88 89 90
INDUSINDBK 511 520 531 540 551
INFY 890 912 929 951 967
ITC 190 192 193 195 196
JSW STEEL 202 204 207 209 211
KOTAKBANK 1,294 1,306 1,322 1,334 1,349
LT 905 912 922 929 939
M&M 576 585 591 600 607
MARUTI 5,748 5,808 5,872 5,932 5,996
NESTLEIND 16,930 17,088 17,229 17,388 17,529
NTPC 86 86 88 88 90
ONGC 78 79 80 81 82
POWERGRID 161 162 163 164 165
RELIANCE 1,885 1,902 1,917 1,935 1,950
SHREECEM 21,832 22,049 22,224 22,442 22,617
SBIN 186 189 191 193 195
SUNPHARMA 469 476 489 497 509
TCS 2,172 2,190 2,209 2,226 2,245
TATAMOTORS 103 104 105 106 108
TATASTEEL 343 348 351 356 359
TECHM 588 606 616 633 643
TITAN 974 988 1,000 1,014 1,027
ULTRACEMCO 3,798 3,831 3,861 3,894 3,924
UPL 433 443 450 460 466
VEDANTA 106 107 109 110 111
WIPRO 253 262 268 277 282
ZEEL 151 153 156 158 161

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 Technical & Derivatives Report
July 21, 2020

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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