WHAT A COME BACK BY BULLS...!!!
PE RATIO FOR NIFTY STANDS AT 20.88
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
March Series
Nifty ~ Due to nearby expiry we can see liquidations in ITM CE and far OTM PE too. But important thing is that Bulls managed to shift highest OI by liquidation in 7700 CE and thus 7800 CE became highest OI which gives hint for more upside.
Highest OI tag is with 7600 PE & 7800 CE.
Bank Nifty ~ Though close is above highest OI for Bank Nifty but we can see that additions in 16200 & 16300 are in good quantum.
Highest OI tag is with 15000 PE & 16000 CE.
NOW WE HAVE 1 SESSION LEFT FOR MARCH EXPIRY WE FEEL WE SHOULD ALSO START STUDYING APRIL SERIES OPTION CHAIN.
April Series
Nifty ~ Huge additions can be seen in nearby CE strike options. On PE front huge additions 7500 & 7600 PE gives hint of strong base built-up.
Highest OI tag is with 7500 PE & 8000 CE.
Bank Nifty ~ Huge additions were seen in 16500 & 17000 CE. PE front additions are not much exciting.
Highest OI tag is with 15000 PE & 17000 CE.
Nifty ~ Due to nearby expiry we can see liquidations in ITM CE and far OTM PE too. But important thing is that Bulls managed to shift highest OI by liquidation in 7700 CE and thus 7800 CE became highest OI which gives hint for more upside.
Highest OI tag is with 7600 PE & 7800 CE.
Bank Nifty ~ Though close is above highest OI for Bank Nifty but we can see that additions in 16200 & 16300 are in good quantum.
Highest OI tag is with 15000 PE & 16000 CE.
NOW WE HAVE 1 SESSION LEFT FOR MARCH EXPIRY WE FEEL WE SHOULD ALSO START STUDYING APRIL SERIES OPTION CHAIN.
April Series
Nifty ~ Huge additions can be seen in nearby CE strike options. On PE front huge additions 7500 & 7600 PE gives hint of strong base built-up.
Highest OI tag is with 7500 PE & 8000 CE.
Bank Nifty ~ Huge additions were seen in 16500 & 17000 CE. PE front additions are not much exciting.
Highest OI tag is with 15000 PE & 17000 CE.
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 17.93
MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 1.47
BANK NIFTY PCR ON BASIS OF OI IS 1.37
APRIL SERIES
NIFTY PCR ON BASIS OF OI IS 0.86
BANK NIFTY PCR ON BASIS OF OI IS 0.68
FINAL CONCLUSION
Nifty
Though high PCR is very high we feel bulls still shall be able to lift upside momentum. Additions in April series CE gives hint of still upside left.
Bank Nifty
Additions in 16200-16300 CE gives hint of more upside and we may see 16500 may become highest OI tag and thus it may act as resistance.
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PLEASE NOTE THESE MOVES ARE AS PER CHARTS AND OPTIONS CHAIN WHICH MAY REVERSE ANYTIME. THIS POST IS FOR EDUCATION PURPOSE ONLY AND NOT TO BE CONSIDERED AS BUYING OR SELLING RECOMMENDATION. WE ARE NOT SEBI REGISTERED RESEARCH ANALYST. WE ARE NOT RESPONSIBLE FOR ANY PROFIT OR LOSS FOR ANY TRADES EXECUTED ON BASIS OF THIS POST. WHILE UTMOST CARE HAS BEEN TAKEN WHILE ANALYSING CHARTS & OPTIONS DATA BUT IF INCASE THERE IS ANY HUMAN ERROR WE ARE APOLOGISE FOR IT.
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ABOUT AUTHOR ~ MANUSH VADHER