Technical & Derivatives Report

July 17, 2020

Sensex (36472) / Nifty (10740) Exhibit 1: Nifty Hourly Chart

Wednesday’s tail end correction was followed by yet another gap

up opening in our markets; courtesy to bumper opening in IT
Giant, Infy post its stellar quarterly numbers. However, once again
this hollow opening got sold into as markets cooled off in initial
trades. For the major part of the day, index traded on a flat to
positive note. All of a sudden, at the stroke of the penultimate
hour, the buying momentum accelerated to conclude the weekly
expiry well above 10700 mark by recouping major portion of
previous day’s losses.

Yesterday’s decent recovery from lower level was no surprise to us

as we had clearly advised staying hopeful as long as Nifty defends
a key support of 10550. Technically speaking, we were observing
a positive divergence in hourly time frame RSI-Smoothened
oscillator in Bank Nifty early in the morning. This became one of
the major catalysts in driving yesterday’s recovery. Now price-
wise, the hourly time frame chart exhibits a ‘Triangle’ pattern and
a move beyond 10775-10800 would lead to a breakout from this
price configuration.

Hence with continuation with our recent stance, we expect the

Nifty to surpass the 10850 quite soon. On the flipside, 10650
followed by 10550 has become a strong support zone. Traders
are advised to keep following individual stocks and trade with a
positive bias as long as 10550 remains intact.

Key Levels
Support 1 – 10650 Resistance 1 – 10800
Support 2 – 10550 Resistance 2 – 10850

Nifty Bank Outlook - (21597)

Exhibit 2: Nifty Bank Hourly Chart
Bank Nifty started trading on a positive note yesterday, however,
within a few minutes the index corrected and almost tested the
21000 mark. Fortunately, it then recovered slowly and rallied in
the later part to end the day with gains of over one percent.

The index had support around the 21000 mark and the same was
defended on the weekly expiry session. Also, a positive divergence
was seen on the hourly charts which led to this pullback move. As
of now, we expected the index to trade in the range of 21000-
22000 and hence, traders are advised to trade with a stock specific
approach. The intraday supports for the index are placed around
21200 and 21000 whereas resistances are seen around 21835 and
22000.

Key Levels
Support 1 – 21200 Resistance 1 – 21835
Support 2 – 21000 Resistance 2 – 22000

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Comments Nifty Vs OI
 The Nifty futures open interest has increased by 8.69% (`000) Openinterest Nifty
14,000 10900
Bank Nifty futures open interest has decreased by 4.57%
as market closed at 10739.95 levels. 13,500 10800
 The Nifty July future closed with a discount of 26.1 point
13,000
against a premium of 10.05 point in last trading session. 10700

The August series closed at a discount of 17.7 point. 12,500

10600
 The INDIA VIX has decreased from 26.29 to 25.36 12,000
At the same time, the PCR-OI of Nifty increased from 1.15 10500
to 1.35. 11,500

 Few of the liquid counters where we have seen high cost 11,000
10400

of carry are L&TFH, ESCORTS, NCC, IDEA, AND

10300
NATIONALUM.
10,500

10,000 10200
7/1 7/2 7/3 7/6 7/7 7/8 7/9 7/10 7/13 7/14 7/15

Views
 Nifty started on a positive note yesterday led by the IT
space. The index traded in a range and ended the OI Gainers
OI PRICE
session at the high point of the day. SCRIP OI PRICE
CHG. (%) CHG. (%)
 FIIs were net sellers in the cash market segment to the BRITANNIA 2052600 21.44 3854.70 3.48

tune of Rs. 1091 crores. In index futures, they sold MFSL 1716000 15.49 580.95 8.37

worth 644 crores with increase in open interest JINDALSTEL 19385000 14.20 177.00 6.48

indicating short positions and long unwinding in INFRATEL 14238000 11.00 190.00 -6.85

yesterday’s session. M&MFIN 10686900 10.87 201.70 4.74

APOLLOTYRE 10805000 10.48 109.45 -2.01
 In last three trading sessions, 10550-10600 range has MRF 17060 8.25 63536.20 -0.19
acted as a support for the index. Nifty saw MUTHOOTFIN 4471500 7.70 1131.65 5.17
formation of long positions along with price upmove
yesterday. While FII's continued to sell in the cash
segment, they formed marginal shorts yesterday in the OI Losers
index futures segment too. Since last few sessions, OI PRICE
SCRIP OI PRICE
Nifty has consolidated within the range of 10550- CHG. (%) CHG. (%)

10900 and traders are advised to look for intraday NIITTECH 453750 -15.38 1652.75 -2.34

opportunities only and avoid aggressive trades in this L&TFH 36658800 -11.56 59.75 -0.25

consolidation. IDEA 323260000 -8.92 7.85 -8.67

INDIGO 2788000 -8.18 989.65 3.81
MINDTREE 1690400 -7.85 1008.85 2.16
LUPIN 8569700 -7.74 879.55 2.41
CHOLAFIN 6522500 -7.52 209.65 4.73
TATACHEM 3694000 -7.23 298.45 0.72

Historical Volatility Put-Call Ratio

SCRIP HV SCRIP PCR-OI PCR-VOL
INFY 49.79 NIFTY 1.35 0.83
CIPLA 43.70 BANKNIFTY 0.94 0.72
BPCL 60.76 RELIANCE 0.52 0.45
MFSL 83.36 ICICIBANK 0.45 0.46
INFRATEL 77.66 INFY 1.51 1.01

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July 17, 2020

FII Statistics for July 16, 2020 Turnover on July 16, 2020
Open Interest
No. of Turnover Change
Detail Buy Sell Net Instrument
Value Change Contracts ( in Cr. ) (%)
Contracts
(in Cr.) (%)
INDEX
4390.95 5035.19 (644.24) 114554 8161.28 1.70 Index Futures 5,15,349 32750.05 -14.51
FUTURES
INDEX
541090.45 537122.05 3968.40 637399 47332.29 (23.90) Index Options 6,43,28,464 34,59,327.29 79.35
OPTIONS
STOCK
17245.77 16530.64 715.13 1300759 87480.15 (0.93) Stock Futures 8,74,246 62694.51 -7.48
FUTURES
STOCK
5201.09 5241.86 (40.77) 115335 7875.73 (4.03) Stock Options 12,13,023 95446.82 -17.31
OPTIONS

Total 567928.26 563929.74 3998.52 2168047 150849.45 (9.04) Total 6,69,31,082 36,50,218.67 69.76

Nifty Spot = 10739.95

Bull-Call Spreads Bear-Put Spreads

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

Buy 10800 145.25 Buy 10700 180.50

42.25 57.75 10842.25 40.55 59.45 10659.45
Sell 10900 103.00 Sell 10600 139.95

Buy 10800 145.25 Buy 10700 180.50

74.40 125.60 10874.40 74.10 125.90 10625.90
Sell 11000 70.85 Sell 10500 106.40

Buy 10900 103.00 Buy 10600 139.95

32.15 67.85 10932.15 33.55 66.45 10566.45
Sell 10500 106.40
Sell 11000 70.85

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

4000,000

Call Put
3500,000

3000,000

2500,000

2000,000

1500,000

1000,000

500,000

,0
10000 10100 10200 10300 10400 10500 10600 10700 10800 10900 11000 11100 11200 11300

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Daily Pivot Levels for Nifty Constituents

Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 305 308 313 316 321
ASIANPAINT 1,626 1,660 1,678 1,712 1,730
AXISBANK 412 423 430 441 447
BAJAJ-AUTO 2,879 2,911 2,930 2,962 2,982
BAJFINANCE 3,061 3,133 3,174 3,246 3,287
BAJAJFINSV 5,988 6,127 6,203 6,342 6,418
BPCL 348 371 383 407 419
BHARTIARTL 548 555 561 568 574
INFRATEL 177 184 195 201 213
BRITANNIA 3,617 3,736 3,808 3,927 3,999
CIPLA 621 648 663 689 704
COALINDIA 123 125 126 128 130
DRREDDY 3,957 4,055 4,109 4,206 4,261
EICHERMOT 17,954 18,297 18,668 19,011 19,382
GAIL 93 95 96 98 100
GRASIM 572 578 585 591 598
HCLTECH 584 606 629 651 674
HDFCBANK 1,023 1,043 1,054 1,074 1,085
HDFC 1,733 1,760 1,778 1,805 1,822
HEROMOTOCO 2,572 2,644 2,684 2,756 2,796
HINDALCO 159 162 165 168 170
HINDUNILVR 2,219 2,253 2,272 2,307 2,326
ICICIBANK 337 341 345 349 352
IOC 81 83 84 86 87
INDUSINDBK 479 499 510 530 542
INFY 859 885 920 946 982
ITC 188 191 195 198 202
JSW STEEL 189 195 199 205 208
KOTAKBANK 1,245 1,284 1,306 1,345 1,367
LT 889 905 915 931 940
M&M 531 551 563 583 595
MARUTI 5,681 5,778 5,849 5,946 6,017
NESTLEIND 16,335 16,916 17,340 17,920 18,345
NTPC 84 86 87 88 90
ONGC 74 75 76 77 78
POWERGRID 157 160 162 165 167
RELIANCE 1,785 1,814 1,842 1,871 1,898
SHREECEM 20,889 21,310 21,671 22,092 22,453
SBIN 180 183 185 188 190
SUNPHARMA 483 492 499 507 514
TCS 2,150 2,192 2,263 2,305 2,376
TATAMOTORS 99 101 103 104 106
TATASTEEL 325 333 340 348 355
TECHM 558 579 609 630 660
TITAN 928 944 959 976 990
ULTRACEMCO 3,696 3,756 3,795 3,855 3,894
UPL 415 424 433 442 451
VEDANTA 104 106 108 111 113
WIPRO 248 255 262 269 275
ZEEL 151 154 158 161 165

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 Technical & Derivatives Report
July 17, 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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