NIFTY & BANK NIFTY VIEW FOR 02/11/2015

JUST FIRST DAY OF NEW SERIES WITH INCREASE LOT SIZE AND PANIC SET MIND OF DERIVATIVE TRADERS...!!!

FRIDAY NIFTY OPENED ON FLAT TO POSITIVE BUT THEN AT END MIXED TREND WAS SEEN IN NIFTY & BANK NIFTY.

BEFORE WE DISCUSS ANYTHING LETS CONSIDER OPTIONS DATA FIRST.

NIFTY:-

LAST CLOSE 8065.80 (SPOT)

EXTREME ENDS 8000 PE & 8500 CE (ON OI BASIS) OF NIFTY OPTION CHAINS ADDED HIGHEST NUMBER OF SHARES IN OI IN THEIR RESPECTIVE CATEGORY DURING LAST TRADING SESSION. NOW IF WE SEE NIFTY PUT CALL RATIO THEN IT IS 0.94. 

BANK NIFTY:-

LAST CLOSE 17354.50 (SPOT)

EXTREME ENDS 17000 PE & 18000 CE (ON HIGHEST OI BASIS) OF BANK NIFTY OPTION CHAINS ADDED GOOD QUANTITY OF SHARES IN OI IN THEIR RESPECTIVE CATEGORY DURING LAST TRADING SESSION. BUT SURPRISING 18500 CE UNDERGONE HIGHEST ADDITION IN BANK NIFTY OPTIONS CHAIN.

NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-

IN OUR LAST COUPLE OF POSTS WE HAVE BEEN GIVING 8392 AS RESISTANCE AND LAST WEEK BULL MANAGED TO LIFT NIFTY UP ONLY TILL 8336 LEVELS...!!!

NOW LOOKING AT MOMENTUM AND OPTIONS DATA WE FEEL THAT SUPPORT ZONE OF 7935 TO 7965 MAY ACT AS GOOD SUPPORT FOR SPOT NIFTY. 

RESISTANCE LEVELS:- 8148 & 8130

SUPPORT LEVELS:- 8032 & 7938 

NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-

RESISTANCE LEVELS:- 17493 & 17696

SUPPORT LEVELS:- 17161 & 16894

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 0.94 
PE RATIO FOR NIFTY STANDS AT 22.06

FINAL CONCLUSION

NIFTY & BANK NIFTY

NIFTY IS SHOWING WEAKNESS IN COMPARISON TO BANK NIFTY AND NEAR IT IS NEAR TO SUPPORT ZONE, WHEREAS BANK NIFTY HAS TAKEN ALREADY TAKEN CRUCIAL SUPPORT NEAR TO 17162 LEVEL. 

WE MAY SEE FLASHES BELOW 8000 FOR SPOT NIFTY AND WHICH MAY ALSO LEAD BANK NIFTY TO COME NEAT TO 17000 ZONE IN COMING DAYS. 

OPEN POSITIONS
NONE

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ABOUT AUTHOR ~ MANUSH VADHER

WORKING AS SHAREKHAN SUB BROKER AND HOLDING MASTER DEGREE IN FINANCE HAVING EXPERIENCE OVER 10 YEARS IN CAPITAL MARKET.