Technical & Derivatives Report

August 26, 2020

Sensex (38844) / Nifty (11472) Exhibit 1: Nifty Daily Chart

Global markets are clearly enjoying their dream run and the winning
streak continued previous night and yesterday morning aswell. As a
result, despite SGX Nifty indicating a sluggish start, our markets
opened higher above the 11500 mark. However, Nifty failed to
extend the optimism as we saw couple of sharp swings of profit
booking from day’s high. Fortunately, we managed to defend key
levels and with the help of a gradual recovery towards the fag end,
the Nifty ended session with negligible gains.

Although we have been sounding a bit cautious since last week or

so, market didn’t look tired at any point; but yesterday for the first
day, we witnessed some fatigue in Nifty at higher levels. Technically
speaking, we observed a ‘Bearish Wolfe Wave’ on hourly chart and
The banking space has gained some strength in last 3-4 days and it
precisely from the Potential Reversal Zone of this pattern, we
is clearly not letting the market fall. Yesterday too, it managed to
witnessed some profit booking in the market. Till now, we were only
hold strong and has now reached it’s recent crucial high around
making our assumptions but now we can see a defined level on
23200-23250. Now going ahead, it would be interesting to see
chart, which can trigger some weakness in Nifty. This level is at
whether BankNifty still holds Nifty higher or a failure to surpass
11420, which is yesterday’s low as well. Going ahead, a sustainable
23250 triggers some correction. Apart from this, some profit taking
move below this point should be considered as an exit opportunity
was seen in the broader market and hence, one needs to be watchful
for existing longs and aggressive traders can opt to short as well.
there as well.
Below this, 11350-11300 are the next levels to watch out for. On the
upside, 11500-11525 remains to be an immediate hurdle and in
case if it extends further, we will still avoid participating in it.

.Key Levels
Support 1 – 11420 Resistance 1 – 11500
Support 2 – 11300 Resistance 2 – 11525

Nifty Bank Outlook - (23092) Exhibit 2: Nifty Bank Daily Chart

Following the breakout momentum from the previous session, the
bank index witnessed a gap up opening in yesterday's session, and
after witnessing swings within a range ended with gains of 1.13%
at 23092. In our yesterday's outlook, we had mentioned that the
bank index is likely to outperform and this is exactly what we saw
in yesterday's session. On the daily chart, the bank index has now
approached its previous swing high at 23211 that can be taken as
a make or break point. If prices manage to sustain or close above
23200 - 23250 zone then we may see outperformance of banking
stocks that can be taken as a catch-up move to its recent
underperformance. However, if it fails to break then it may lead
to correction in broader markets. As far as support levels are
concerned, immediate support is placed around 22830 followed
by 22500.

Key Levels
Support 1 – 22830 Resistance 1 – 23250
Support 2 – 22500 Resistance 2 – 23480

www.angelbroking.com
 Technical & Derivatives Report
August 26, 2020

Comments Nifty Vs OI
 The Nifty futures open interest has increased by 0.97% (`000) Openinterest Nifty
Bank Nifty futures open interest has increased by 11.15% 12,000 11500

as market closed at 11472.25 levels. 11,900 11450

 The Nifty August future closed with a discount of 0.6 11,800 11400

point against a premium of 7.7 point in last trading 11,700

11350

session. The September series closed at a premium of 11,600

11300

10.55 point. 11,500

11250

 The INDIA VIX has increased from 19.23 to 19.32 11200

11,400
At the same time, the PCR-OI of Nifty decreased from 11150
11,300
1.63 to 1.52. 11100

Few of the liquid counters where we have seen high cost

11,200 11050

of carry are SAIL, PNB, TORNTPOWER, TATACHEM AND 11,100 11000
GMRINFRA. 11,000 10950
8/10 8/11 8/12 8/13 8/14 8/17 8/18 8/19 8/20 8/21 8/24 8/25

Views
OI Gainers
 Nifty started on a positive note yesterday and
OI PRICE
surpassed the 11500 mark. However, we witnessed SCRIP OI PRICE
CHG. (%) CHG. (%)
some pullback during the day and the index ended with IBULHSGFIN 18181500 26.81 206.30 2.00
negligible gains. CANBK 17000000 26.11 106.70 2.54
M&MFIN 21469896 22.60 137.35 3.80
 FIIs were net buyers in the cash market segment to the
CHOLAFIN 6925000 15.75 242.15 4.53
tune of Rs. 1481 crores. In index futures, they sold worth
HAVELLS 6327000 15.60 663.05 3.24
144 crores with increase in open interest indicating
formation of mixed positions.
PVR 1858362 10.64 1322.20 0.95
INDIGO 3234500 9.57 1166.15 0.54
 While marginal open interest addition was seen in the LICHSGFIN 13988000 8.96 299.00 8.40
Nifty, the banking index saw formation of long positions
which led to the relative outperformance. FII's were net
buyers in the cash segment whereas they formed mixed OI Losers
positions yesterday in the index futures. In options OI PRICE
SCRIP OI PRICE
segment, inspite of the index surpassing the 11500 CHG. (%) CHG. (%)
mark, the call writers kept their positions intact and CENTURYTEX 1415400 -23.58 331.80 -1.13
infact good amount of build up is seen in that strike. ADANIENT 15072000 -20.36 307.60 20.64
This indicates that 11500 is a hurdle and may not be BATAINDIA 1858450 -18.60 1306.80 -1.65
crossed in this monthly expiry. On the flipside, 11400 is VOLTAS 2923000 -18.24 654.90 -0.92
the immediate support followed by 11300 mark. Since UJJIVAN 1196800 -18.20 252.10 1.00
the index is trading around the resistance, traders RAMCOCEM 1343850 -13.18 730.65 1.36
should avoid long bets in the Nifty at current levels and TVSMOTOR 5790400 -12.76 445.55 -0.75
rather focus on stock specific moves with opportunities EICHERMOT 2886800 -11.03 2217.25 1.76
on both the sides of the trade.

Historical Volatility Put-Call Ratio

SCRIP HV SCRIP PCR-OI PCR-VOL
ADANIENT 68.70 NIFTY 1.52 1.01
MFSL 80.14 BANKNIFTY 1.35 0.75
LICHSGFIN 63.39 RELIANCE 0.60 0.47
HAVELLS 44.55 ICICIBANK 0.72 0.43
TATACHEM 43.83 INFY 0.54 0.64

www.angelbroking.com
 Technical & Derivatives Report
August 26, 2020

FII Statistics for August 25, 2020 Turnover on August 25, 2020
Open Interest
No. of Turnover Change
Detail Buy Sell Net Instrument
Value Change Contracts ( in Cr. ) (%)
Contracts
(in Cr.) (%)
INDEX
6509.51 6653.87 (144.36) 142719 10937.87 10.05 Index Futures 4,87,095 33256.72 34.24
FUTURES
INDEX
202660.52 202152.29 508.23 751027 59720.07 5.80 Index Options 2,15,89,292 14,74,594.93 36.96
OPTIONS
STOCK
41097.03 41424.56 (327.53) 1279012 90996.33 (1.27) Stock Futures 17,04,306 1,21,322.66 17.25
FUTURES
STOCK
5670.23 5525.66 144.57 77697 5491.20 (10.34) Stock Options 16,51,944 1,22,357.56 -3.29
OPTIONS

Total 255937.29 255756.38 180.91 2250455 167145.47 1.30 Total 2,54,32,637 17,51,531.87 31.56

Nifty Spot = 11472.25

Bull-Call Spreads Bear-Put Spreads

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

Buy 11500 42.10 Buy 11500 70.85

30.00 70.00 11530.00 39.75 60.25 11460.25
Sell 11600 12.10 Sell 11400 31.10

Buy 11500 42.10 Buy 11500 70.85

38.85 161.15 11538.85 56.30 143.70 11443.70
Sell 11700 3.25 Sell 11300 14.55

Buy 11600 12.10 Buy 11400 31.10

8.85 91.15 11608.85 16.55 83.45 11383.45
Sell 11300 14.55
Sell 11700 3.25

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

5000,000

4500,000 Call Put

4000,000

3500,000

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

www.angelbroking.com
 Technical & Derivatives Report
August 26, 2020

Daily Pivot Levels for Nifty Constituents

Scrips S2 S1 PIVOT R1 R2
ADANIPORTS 335 341 346 352 357
ASIANPAINT 1,941 1,971 1,994 2,024 2,047
AXISBANK 442 447 452 456 461
BAJAJ-AUTO 2,956 2,983 3,019 3,045 3,081
BAJFINANCE 3,454 3,549 3,604 3,699 3,754
BAJAJFINSV 6,354 6,428 6,475 6,549 6,596
BPCL 402 408 414 419 425
BHARTIARTL 520 525 530 534 540
INFRATEL 194 196 198 201 203
BRITANNIA 3,846 3,871 3,901 3,926 3,956
CIPLA 738 743 750 755 763
COALINDIA 138 139 140 141 142
DRREDDY 4,374 4,401 4,447 4,473 4,519
EICHERMOT 2,149 2,183 2,216 2,251 2,284
GAIL 97 98 101 102 105
GRASIM 654 664 672 682 689
HCLTECH 686 694 703 711 719
HDFCBANK 1,097 1,108 1,118 1,129 1,138
HDFC 588 594 599 605 609
HEROMOTOCO 1,798 1,814 1,833 1,849 1,868
HINDALCO 2,898 2,934 2,994 3,029 3,089
HINDUNILVR 186 189 193 195 199
ICICIBANK 2,161 2,170 2,184 2,193 2,207
IOC 377 382 386 390 394
INDUSINDBK 87 88 88 89 90
INFY 522 529 538 545 554
ITC 925 932 940 947 955
JSW STEEL 193 194 196 197 199
KOTAKBANK 277 281 284 288 291
LT 1,371 1,385 1,395 1,410 1,420
M&M 964 972 986 994 1,008
MARUTI 597 603 608 614 619
NESTLEIND 7,020 7,065 7,120 7,165 7,220
NTPC 16,131 16,209 16,344 16,422 16,557
ONGC 101 102 105 106 109
POWERGRID 79 80 81 82 83
RELIANCE 181 183 185 187 189
SHREECEM 2,057 2,070 2,090 2,103 2,124
SBIN 21,162 21,487 21,974 22,298 22,786
SUNPHARMA 201 204 206 210 212
TCS 516 521 528 532 540
TATAMOTORS 2,226 2,234 2,242 2,251 2,259
TATASTEEL 118 123 126 130 133
TECHM 415 419 426 431 437
TITAN 705 722 731 748 757
ULTRACEMCO 1,117 1,127 1,133 1,143 1,149
UPL 4,114 4,143 4,171 4,200 4,228
VEDANTA 484 488 494 498 505
WIPRO 266 268 271 273 277
ZEEL 194 197 201 204 207

www.angelbroking.com
 Technical & Derivatives Report
August 26, 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

DISCLAIMER
*

Angel Broking 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 Adviser with SEBI. It also has registration with AMFI as a Mutual Fund Distributor. Angel Broking
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. Angel or its associates/analyst has not received any compensation / managed or co-managed
public offering of securities of the company covered by Analyst during the past twelve months.

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.

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 Broking 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 Broking 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 Broking 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.

www.angelbroking.com