NIFTY & BANK NIFTY VIEW FOR 20/10/2015

PAST RESISTANCE BECOMES SUPPORT THIS IS WELL KNOWN FACT FOR ALL THOSE WHO TRADE/INVEST IN STOCK MARKET.

TAKING LEVERAGE OF 5-10 POINTS IF WE SEE TODAY'S SPOT NIFTY LOW THEN OUT LEVEL OF 8228/8229 WAS PERFECTLY RESPECTED BY NIFTY.

NOW IF TALK ABOUT OPTIONS DATA THEN EXPECTED RANGE HAS MOVED TO 8200-8300. (THOUGH HIGHEST OI IN PE FRONT IS AT 8000 PE BUT LOOKING AT 8200 PE ADDITIONS IT SEEMS THAT IT WILL BE VERY TOUGH FOR BEARS TO BREAK 8200 MARK) 

ALSO AT PRESENT UPSIDE RESISTANCE COMES AT 8391.55 LEVELS (AS SPOT NIFTY CLOSED  ABOVE 8228 MARK) SO IN COMING DAYS WE MAY SEE THAT HIGHEST OI TAG MAY GET CHANGED FROM 8300 CE TO 8400 CE AND WE MAY SEE EXPIRY IN ZONE OF 8300-8400. 

NOW LETS TALK ABOUT BANK NIFTY

BANK NIFTY CALL OPTIONS DATA HAS CHANGED DRAMATICALLY IN LAST 2-3 SESSIONS AS 18000 CE HAS BEEN REPLACED BY 18500 CE ON HIGHEST OI BASIS AND THIS HAS LEAD TO CHANGE IN MOMENTUM. (REPEAT COMMENT) 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 1.27
PE RATIO FOR NIFTY STANDS AT 22.61

FINAL CONCLUSION

NIFTY

NOW AS WE KNOW GAP IS FILLED BY NIFTY AND ALREADY NEAR TO UPSIDE OPTIONS DATA RESISTANCE LEVEL AT 8300 BUT CLOSE LOOK TOWARDS 8400 CE IS  REQUIRED. (REPEAT COMMENT) AS WE FEEL 8200 PE ARE WRITTEN BY BIG TRADERS AND SLOWLY SLOWLY MOMENTUM IS SHIFTING TOWARDS 8300 & 8300 CALL OPTIONS. 

NEXT SERIES HIGHEST OI IS AT 8500 CE SO AS DISCUSSED EARLIER WE MAY SEE SOME FLASHES ABOVE 8400 TOO IN THIS SERIES. 

NIFTY
BANK NIFTY OPTIONS DATA GIVES HINT THAT WE MAY SUDDEN UPSIDE FLASHES ABOVE 18000 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.