Technical & Derivatives Report

June 23, 2020

Sensex (34911) / Nifty (10311) Exhibit 1: Nifty Daily Chart

Nifty continued with the momentum seen in the tail end of last
week and began the week on a positive note. However, the index
oscillated within a range for rest of the session and ended around
the opening level, adding gains of 0.65 percent to the previous
close.

Inspite of the SGX Nifty hinting a marginal soft opening, our

markets opened gap up in yesterday’s session. Although the index
then consolidated within a range, the stock specific momentum
was robust and the broader markets provided good trading
opportunities for day traders. On the daily chart, the index has
been trading within a ‘Rising Wedge’ formation and the higher
end of the pattern is in the range of 10500-10600. Looking at the
overall momentum, we are of the opinion that the index would
move higher in the near term to test the above mentioned range.
Hence, momentum traders are advised to continue to trade with
a positive bias and look for stock specific opportunities on any
intraday dips. The intraday supports for the index are placed
around 10260 and 10210 whereas resistances are seen around
10440 and 10500.

Key Levels
Support 1 – 10260 Resistance 1 – 10440
Support 2 – 10210 Resistance 2 – 10500

Nifty Bank Outlook - (21708) Exhibit 2: Nifty Bank Daily Chart

Bank Nifty as well started on a positive note however it was
followed by an immediate dip. This dip got bought into as the
bank index advanced above the 22000 mark. Eventually, once
again some profit-booking was seen during the last hour to erase
some gains to end tad above 21700 adding 1.73%

On the daily chart, the bank index is trading in a 'Rectangular

Channel' formation and has now reached around the higher end
of this pattern. The said higher-end now coincides around 89EMA
placed around 22190 levels and hence yesterday twice we
witnessed some profit booking at higher levels. Looking at the way
some of the heavyweight banking stocks are structured up we
expect the bank index to surpass the 22200 levels and expect the
positive momentum to continue in the near term. Traders are
hence advised to use such intraday dips to creat stock-specific
long positions. In such a scenario, immediate support is placed
around 21425 - 21300.

Key Levels
Support 1 – 21425 Resistance 1 – 22080
Support 2 – 21300 Resistance 2 – 22200

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June 23, 2020

Comments Nifty Vs OI
 The Nifty futures open interest has increased by 2.82% (`000) Openinterest Nifty
12,500 10400
Bank Nifty futures open interest has decreased by 6.47%
as market closed at 10311.20 levels. 10300

 The Nifty June future closed with a discount of 23 point 12,000 10200
against a discount of 8.85 point in last trading session.
10100
The July series closed at a discount of 37.75 point. 11,500
The INDIA VIX has increased from 29.96 to 30.46
10000

At the same time, the PCR-OI of Nifty decreased from 9900
11,000
1.56 to 1.53. 9800
 Few of the liquid counters where we have seen high cost
9700
of carry are PNB, SAIL, ESCORTS, IDEA and GMRINFRA. 10,500
9600

10,000 9500
6/1 6/3 6/5 6/9 6/11 6/15 6/17 6/19
Views
 Nifty started the session on a positive note and then
consolidated in a range to end with gains of 0.65% at OI Gainers
10311.20. OI PRICE
SCRIP OI PRICE
CHG. (%) CHG. (%)
 FIIs were net buyers in the cash market segment to the IDEA 354732000 60.42 10.10 11.54
tune of Rs. 424 crores. In index futures, they bought CENTURYTEX 4471600 47.60 324.35 1.93

worth 76 crores with a increase in open interest. GLENMARK 6188200 26.50 519.75 26.73
LICHSGFIN 9893700 23.80 268.55 -5.79
 Nifty started trading on a positive note and then NIITTECH 608625 17.27 1336.55 0.16
traded within a range. FII's were net buyers in cash MRF 18330 16.53 64762.55 2.99
segment while they bought index futures too. In ONGC 62493900 15.11 84.85 -1.86
options segment, 10200-10100 put added good UJJIVAN 4317800 14.63 218.55 2.62
amount of open interest indicating support in this
range. On the flipside, open interest build up at 10500
call hints resistance. We continue with our advice for OI Losers
traders to use decline as buying opportunity and trade OI PRICE
SCRIP OI PRICE
with a positive bias. CHG. (%) CHG. (%)
SAIL 42228800 -14.43 31.20 4.31
BHEL 53041800 -13.58 33.65 3.85
IBULHSGFIN 14191500 -13.06 242.20 19.55
NCC 25983000 -13.05 31.00 -1.43
ESCORTS 2711500 -11.90 974.25 -1.62
ADANIENT 16068000 -11.21 154.65 1.45
JUSTDIAL 1909600 -9.43 363.30 -0.54
UBL 960400 -9.38 1035.45 1.06

Historical Volatility Put-Call Ratio

SCRIP HV SCRIP PCR-OI PCR-VOL
GLENMARK 71.02 NIFTY 1.53 0.86
IDFCFIRSTB 65.11 BANKNIFTY 1.16 0.70
IBULHSGFIN 128.04 RELIANCE 0.94 0.52
PAGEIND 50.45 ICICIBANK 0.83 0.53
BAJAJ-AUTO 48.49 INFY 0.62 0.93

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June 23, 2020

FII Statistics for June 22, 2020 Turnover on June 22, 2020
Open Interest
No. of Turnover Change
Detail Buy Sell Net Instrument
Value Change Contracts ( in Cr. ) (%)
Contracts
(in Cr.) (%)
INDEX
7553.14 7477.61 75.53 131419 8674.31 4.30 Index Futures 6,89,252 38464.47 -1.19
FUTURES
INDEX
196815.77 196982.64 (166.87) 855516 59460.72 4.60 Index Options 1,77,53,170 10,21,973.76 17.17
OPTIONS
STOCK
35248.25 36018.14 (769.89) 1553021 90400.82 (1.24) Stock Futures 18,12,264 1,04,351.15 28.25
FUTURES
STOCK
6941.82 6713.50 228.32 96969 5468.11 (8.87) Stock Options 16,44,179 1,01,961.98 -10.31
OPTIONS

Total 246558.98 247191.89 (632.91) 2636925 164003.96 0.54 Total 2,18,98,865 12,66,751.36 14.52

Nifty Spot = 10311.20

Bull-Call Spreads Bear-Put Spreads

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

Buy 10300 102.85 Buy 10300 116.25

43.65 56.35 10343.65 41.05 58.95 10258.95
Sell 10400 59.20 Sell 10200 75.20

Buy 10300 102.85 Buy 10300 116.25

71.25 128.75 10371.25 67.05 132.95 10232.95
Sell 10500 31.60 Sell 10100 49.20

Buy 10400 59.20 Buy 10200 75.20

27.60 72.40 10427.60 26.00 74.00 10174.00
Sell 10100 49.20
Sell 10500 31.60

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

Nifty Put-Call Analysis

5000,000
Call Put
4500,000

4000,000

3500,000

3000,000

2500,000

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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 Technical & Derivatives Report
June 23, 2020

Daily Pivot Levels for Nifty Constituents

Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 343 346 350 353 357
ASIANPAINT 1,600 1,626 1,650 1,676 1,699
AXISBANK 410 420 428 438 446
BAJAJ-AUTO 2,582 2,719 2,796 2,933 3,011
BAJFINANCE 2,675 2,758 2,811 2,893 2,946
BAJAJFINSV 5,775 5,979 6,165 6,369 6,555
BPCL 375 380 385 390 394
BHARTIARTL 562 572 580 589 597
INFRATEL 213 218 223 228 233
BRITANNIA 3,378 3,400 3,437 3,459 3,496
CIPLA 626 641 667 682 708
COALINDIA 135 139 142 146 148
DRREDDY 3,984 4,008 4,035 4,060 4,087
EICHERMOT 16,956 17,273 17,534 17,850 18,111
GAIL 96 97 99 100 102
GRASIM 569 593 611 635 653
HCLTECH 559 564 571 576 582
HDFCBANK 1,011 1,020 1,033 1,042 1,055
HDFC 1,774 1,797 1,836 1,858 1,897
HEROMOTOCO 2,321 2,367 2,407 2,453 2,493
HINDALCO 148 149 150 151 153
HINDUNILVR 2,070 2,086 2,102 2,117 2,134
ICICIBANK 359 363 369 373 379
IOC 84 86 87 89 90
INDUSINDBK 476 483 493 499 509
INFY 695 700 704 708 713
ITC 181 183 185 187 190
JSW STEEL 190 194 197 201 204
KOTAKBANK 1,256 1,306 1,345 1,395 1,434
LT 886 897 906 917 926
M&M 490 494 498 503 507
MARUTI 5,724 5,810 5,892 5,979 6,061
NESTLEIND 15,940 16,041 16,165 16,266 16,390
NTPC 92 94 95 96 97
ONGC 83 84 85 86 87
POWERGRID 167 173 176 182 185
RELIANCE 1,693 1,719 1,762 1,789 1,831
SHREECEM 21,246 21,632 21,916 22,302 22,586
SBIN 180 184 188 192 195
SUNPHARMA 478 486 493 501 509
TCS 2,000 2,014 2,033 2,047 2,066
TATAMOTORS 99 101 103 105 107
TATASTEEL 314 320 324 330 334
TECHM 532 540 547 555 562
TITAN 959 969 979 989 998
ULTRACEMCO 3,764 3,795 3,821 3,852 3,878
UPL 426 436 442 452 459
VEDANTA 102 106 109 113 116
WIPRO 214 216 219 221 224
ZEEL 171 174 177 180 183

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 Technical & Derivatives Report
June 23, 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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