Technical & Derivatives Report

FEB 17, 2023

Sensex (61320) / Nifty (18036) Exhibit 1: Nifty Daily Chart

Wednesday’s tail end upsurge was followed by a good bump up at

the opening yesterday. The benchmark index Nifty continued its
march beyond 18100 in the initial hour. However, once again the
struggle continues at higher levels. Our key indices kept drifting
lower in a gradual manner. Eventually, with banking sulking again,
Nifty ended the penultimate weekly expiry with negligible gains
above the 18000 mark.

Very much on expected lines, we had a gap up opening yesterday

owing to favorable global cues. However, we failed to capitalize on
this head-start. Since there was no sustenance from most of the
heavyweight constituents, we pared down almost all initial gains.
Ideally, our market had all the ingredients yesterday to surpass the
sturdy wall of 18200 – 18250; but as always, market has its own
plans. Nevertheless, the Nifty has managed to hold important level
of 18000 convincingly, we consider this as an encouraging sign.
Key Levels
Yesterday’s move could only be a breather before market takes
its leap higher. In our sense, till the time Nifty remains above
17950 – 17900 on a closing basis, there is no reason to worry for.
In fact, soon we would see Nifty challenging the recent hurdles
of 18200 – 18250. Before this, 18100 – 18140 are to be seen as
immediate resistances. Traders are advised to continue with a
positive bias and should focus on stock specific actions.

Support 1 – 17950 Resistance 1 – 18140

Support 2 – 17900 Resistance 2 – 18200

Nifty Bank Outlook (41631) Exhibit 2: Nifty Bank Daily Chart

We had a very strong opening for the bank index on the weekly
expiry day however there was no follow-up buying and as the day
progressed prices slipped lower throughout the session. During the
fag end the selling augmented to eventually end with a loss of
0.24% at 41631.

It was a disappointing day for the bulls as after the strong move on
Wednesday it seemed prices would break above the 42000
resistance with ease however prices exactly took resistance around
it. Once again, this key resistance which coincides with the budget
session high becomes a pivotal point and for the momentum to
trigger prices need to sustain about it. In our sense market is still in
a consolidation phase with an undertone of bullish hence dips
should be considered as a buying opportunity. In such a scenario,
immediate support is seen in the zone of 41150 - 41000. With the
lack of trending moves in the index, traders should ideally opt for
stock-specific action that continues to give outperforming
opportunities.

Key Levels
Support 1 – 41150 Resistance 1 – 42000
Support 2 – 41000 Resistance 2 – 42200

www.angelone.in
 Technical & Derivatives Report
FEB 17, 2023

Comments Nifty Vs OI
 The Nifty futures open interest has decreased by 0.80%
and Bank Nifty futures open interest has increased by 16,000 Openinterest Nifty 18200
5.85% as the market closed at 18035.85. 18100
14,000
 The Nifty FEB future closed with a premium of 27.00 18000
point against a premium of 19.30 point in the last 12,000
17900
trading session. The MARCH series closed at a premium 10,000 17800
of 129.60 point.
17700
 The INDIA VIX increased from 12.86 to 12.89. At the 8,000
17600
same time, the PCR-OI of Nifty has decreased from 1.39 6,000
17500
to 1.03.
 Few of the liquid counters where we have seen high 4,000 17400
1/25 1/30 2/2 2/7 2/9 2/13 2/15
cost of carry are PIIND, HAL, TECHM, ONGC and
NAVINFLUOR.

OI Gainers
View OI PRICE
SCRIP OI PRICE
CHG. (%) CHG. (%)
 Our market had a promising start to the day but
CROMPTON 6693000 20.14 299.95 -1.59
failed to capitalize upon it. The benchmark index
ONGC 44640750 20.09 155.90 5.58
Nifty50 pared down the initial gains but managed to
AARTIIND 5727300 15.24 550.15 2.18
withhold the 18000 mark with mere gains.
INDIGO 4684500 13.46 1897.30 -3.40
 FIIs were net buyers in the cash market segment to DIXON 1310375 13.15 2726.25 0.85
the tune of Rs. 1571 crores. Simultaneously, in Index MGL 2764000 12.25 920.85 2.13
futures, they sold worth Rs. 351 crores with an PIIND 2495250 10.37 3376.95 7.87
increase in open interest, indicating short addition. HINDUNILVR 9255000 9.19 2527.10 -0.87

 In the F&O space, we saw a mixed trade in the key

indices on the weekly expiry session. On the options
front, the highest OI concentration at 18000 put OI Losers
strike, followed by some piling around 17800 PE, OI PRICE
SCRIP OI PRICE
indicating nearby support for Nifty. On the flip side, CHG. (%) CHG. (%)
the 18100-18200 call strikes have a decent OI CUB 13520000 -6.11 141.20 2.06
concentration, suggesting immediate resistance in a LUPIN 8691250 -5.83 681.75 2.17
comparable period. Simultaneously, the ‘Long Short MCX 1209600 -5.79 1388.10 2.87
ratio’ remains unchanged at 26%. Considering the RELIANCE 38692250 -5.52 2430.00 -0.09
recent developments, the undertone is likely to TORNTPOWER 4240500 -4.97 509.50 0.94
remain upbeat, wherein any dip towards the support BAJAJFINSV 10354000 -4.95 1428.20 0.42
zone could be utilized to add long in the system. BHARATFORG 8240000 -4.92 856.00 2.70
PVR 2396009 -4.91 1711.05 -0.26

Historical Volatility Put-Call Ratio

SCRIP PCR (OI) PCR (VOL)
SCRIP HV
ADANIENT 87.90 NIFTY 1.03 1.03

IDEA 72.23 BANKNIFTY 0.72 0.90

IBULHSGFIN 68.35 RELIANCE 0.68 0.58

RBLBANK 65.06 ICICIBANK 0.59 0.52

ADANIPORTS 59.27 INFY 0.63 0.49

www.angelone.in
 Technical & Derivatives Report
FEB 17, 2023

FII Statistics for February 16, 2023 Turnover on February 16, 2023
Open
No. of Turnover Change
Interest Instrument
Detail Buy Net Contracts Contracts ( in Cr. ) (%)
Value
Sell CHANGE
(in Cr.)
Index Futures 279092 27238.63 0.61
INDEX
2675.91 3026.64 (350.73) 142770 13508.69 4.24
FUTURES Index Options 339006498 48206.38 13.82
INDEX
2045625.91 2025664.32 19961.59 1846348 173663.69 (21.88)
OPTIONS Stock Futures 981204 65372.78 15.52
STOCK
12300.20 11426.72 873.48 2202257 147752.48 0.60 Stock Options 4550975 3598.96 -3.55
FUTURES
STOCK Total 45,50,975 3598.96 11.30
13144.75 13095.76 48.99 235121 15543.86 0.72
OPTIONS

Total 2073746.77 2053213.44 20533.33 4426496 350468.72 (10.09)

Nifty Spot = 18035.85

0900 Lot Size = 75
Bull-Call Spreads Bear-Put Spreads
Action Strike Price Risk Reward BEP Action Strike Price Risk Reward BEP

Buy 18000 136.60 53.70 46.30 18053.70 Buy 18000 76.30 30.90 69.10 17696.10

Sell 18100 82.90 Sell 17900 45.40

Buy 18000 136.60 92.60 107.40 18092.60 Buy 18000 76.30 48.90 151.10 17951.10
Sell 18200 44.00 17800 27.40
Sell
Buy 18100 82.90 38.90 61.10 18138.90 Buy 17900 45.40 18.00 82.00 17882.00

Sell 18200 44.00 Sell 17800 27.40

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

Nifty Put-Call Analysis

7000,000

Call Put
6000,000

5000,000

4000,000

3000,000

2000,000

1000,000

,0
17400 17500 17600 17700 17800 17900 18000 18100 18200 18300 18400 18500 18600 18700

www.angelone.in
 Technical & Derivatives Report
FEB 17, 2023

Daily Pivot Levels for Nifty Constituents

`
Scrips S2 S1 PIVOT R1 R2
ADANIENT 1,736 1,766 1,821 1,851 1,905
ADANIPORTS 563 570 580 588 598
APOLLOHOSP 4,436 4,540 4,604 4,707 4,772
ASIANPAINT 2,766 2,786 2,810 2,830 2,854
AXISBANK 855 860 867 872 879
BAJAJ-AUTO 3,871 3,889 3,910 3,928 3,949
BAJFINANCE 6,356 6,397 6,461 6,501 6,565
BAJAJFINSV 1,403 1,416 1,425 1,438 1,447
BPCL 318 322 328 331 337
BHARTIARTL 775 780 785 790 795
BRITANNIA 4,535 4,553 4,586 4,604 4,637
CIPLA 1,024 1,030 1,034 1,040 1,044
COALINDIA 212 214 215 217 218
DIVISLAB 2,804 2,840 2,863 2,900 2,922
DRREDDY 4,486 4,503 4,526 4,543 4,567
EICHERMOT 3,224 3,257 3,300 3,333 3,376
GRASIM 1,604 1,617 1,630 1,643 1,656
HCLTECH 1,107 1,117 1,135 1,146 1,163
HDFCBANK 1,648 1,656 1,669 1,677 1,690
HDFCLIFE 507 511 516 520 526
HDFC 2,675 2,688 2,706 2,719 2,737
HEROMOTOCO 2,521 2,539 2,564 2,582 2,608
HINDALCO 430 432 435 437 440
HINDUNILVR 2,498 2,513 2,537 2,552 2,576
ICICIBANK 858 864 871 877 884
INDUSINDBK 1,137 1,143 1,149 1,155 1,162
INFY 1,588 1,595 1,605 1,612 1,621
ITC 379 381 383 385 387
JSW STEEL 720 724 728 732 735
KOTAKBANK 1,771 1,780 1,792 1,800 1,812
LT 2,154 2,166 2,184 2,197 2,215
M&M 1,342 1,355 1,376 1,389 1,410
MARUTI 8,735 8,770 8,825 8,860 8,915
NESTLEIND 18,863 19,246 19,523 19,906 20,183
NTPC 165 166 167 168 169
ONGC 146 151 154 159 162
POWERGRID 212 213 215 216 218
RELIANCE 2,401 2,415 2,440 2,454 2,478
SBILIFE 1,160 1,167 1,177 1,184 1,193
SBIN 533 537 542 545 550
SUNPHARMA 980 988 999 1,006 1,018
TCS 3,505 3,532 3,553 3,580 3,601
TATACONSUM 725 729 732 736 739
TATAMOTORS 436 439 443 446 451
TATASTEEL 110 111 112 113 113
TECHM 1,048 1,089 1,115 1,156 1,182
TITAN 2,501 2,512 2,529 2,539 2,556
ULTRACEMCO 7,072 7,122 7,158 7,208 7,244
UPL 764 767 770 774 777
WIPRO 406 408 411 413 415

www.angelone.in
 Technical & Derivatives Report
FEB 17, 2023

Technical and Derivatives Team:

Sameet Chavan Chief Analyst – Technical & Derivatives sameet.chavan@angelone.in

Sneha Seth Senior Analyst – Technical & Derivatives sneha.seth@angelone.in

Rajesh Bhosale Technical Analyst rajesh.bhosle@angelone.in

Osho Krishan Senior Analyst – Technical & Derivatives osho.krishan@angelone.in

Research Team Tel: 022 – 39357600 Website: www.angelone.in

For Technical Queries E-mail: technicalresearch-cso@angelone.in

For Derivatives Queries E-mail: derivatives.desk@angelone.in

*

DISCLAIMER

Angel One Limited (hereinafter referred to as “Angel”) is a registered Member of National Stock Exchange of India Limited, Bombay Stock Exchange
Limited and Metropolitan Stock Exchange Limited. It is also registered as a Depository Participant with CDSL and Portfolio Manager and investment
advisor with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel One Limited is a registered entity with SEBI for Research
Analyst in terms of SEBI (Research Analyst) Regulations, 2014 vide registration number INH000000164. Angel or its associates has not been
debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in securities Market.

This document is solely for the personal information of the recipient, and must not be singularly used as the basis of any investment decision.
Nothing in this document should be construed as investment or financial advice. Each recipient of this document should make such investigations
as they deem necessary to arrive at an independent evaluation of an investment in the securities of the companies referred to in this document
(including the merits and risks involved), and should consult their own advisors to determine the merits and risks of such an investment.

Angel or its associates or research analyst or his relative may have actual/beneficial ownership of 1% or more in the securities of the subject
company at the end of the month immediately preceding the date of publication of the research report. Neither Angel or its associates nor
Research Analysts or his relative has any material conflict of interest at the time of publication of research report.

Angel or its associates might have received any compensation from the companies mentioned in the report during the period preceding twelve
months from the date of this report for services in respect of managing or co-managing public offerings, corporate finance, investment banking or
merchant banking, brokerage services or other advisory service in a merger or specific transaction in the normal course of business. Angel or its
associates did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with the
research report. Neither Angel nor its research analyst entity has been engaged in market making activity for the subject company.

Reports based on technical and derivative analysis center on studying charts of a stock's price movement, outstanding positions and trading
volume, as opposed to focusing on a company's fundamentals and, as such, may not match with a report on a company's fundamentals. Investors
are advised to refer the Fundamental and Technical Research Reports available on our website to evaluate the contrary view, if any.

The information in this document has been printed on the basis of publicly available information, internal data and other reliable sources believed
to be true, but we do not represent that it is accurate or complete and it should not be relied on as such, as this document is for general guidance
only. Angel One Limited or any of its affiliates/ group companies shall not be in any way responsible for any loss or damage that may arise to any
person from any inadvertent error in the information contained in this report. Angel One Limited has not independently verified all the information
contained within this document. Accordingly, we cannot testify, nor make any representation or warranty, express or implied, to the accuracy,
contents or data contained within this document. While Angel One Limited endeavors to update on a reasonable basis the information discussed
in this material, there may be regulatory, compliance, or other reasons that prevent us from doing so.

This document is being supplied to you solely for your information, and its contents, information or data may not be reproduced, redistributed or
passed on, directly or indirectly.

Neither Angel One Limited, nor its directors, employees or affiliates shall be liable for any loss or damage that may arise from or in connection
with the use of this information. Angel or its associates or Research Analyst or his relative might have financial interest in the subject company.
Research analyst has not served as an officer, director or employee of the subject company.

www.angelone.in