NIFTY & BANK NIFTY VIEW FOR 01/12/2015

INDECISIVENESS OR CONSOLIDATION IN MOVES AND ULTIMATELY OPTION WRITERS EMERGING AS WINNERS...!!!

BUT IDEALLY WE HAVE SEEN THAT BEFORE RBI POLICY THERE IS ALWAYS SUCH CONSOLIDATED MOVES.

NOW LETS DISCUSS OPTIONS DATA FOR NIFTY & BANK NIFTY.

In our last few posts we had given caution on 8000 PE OI for December series but somehow just at the start of series 7500 PE took top spot (highest OI on PE front) whereas on CE front 8500 CE is having highest OI. So in simple meaning we can say that this series range at present is 7500-8500 which may change with time.

During last trading session highest additions were seen in 8000 CE so we feel somehow that may act as immediate hurdle but after that 8100, 8200 & 8300 CE are having high OI. 

Now if we see 7600 PE then more than 268k shares were added in OI.

PCR stands at 1.06 which gives bit caution at present and trades on long side at present should be avoided strictly.

If we see Bank option chain then range comes between 17000-18000.

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

RESISTANCE LEVELS:- 7952 & 8025

SUPPORT LEVELS:- 7861 & 7804 

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

RESISTANCE LEVELS:- 17478 & 17689
SUPPORT:- 17308, 17138 &16927

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 1.06
PE RATIO FOR NIFTY STANDS AT 21.45

FINAL CONCLUSION

NIFTY

LOOKING AT EVENT TODAY AND OPTION CHAIN WITH PCR WE FEEL SOME TIME 8000 WILL NOT CROSSED TODAY AS WE FEEL THERE SHALL BE NO CHANGE IN POLICY RATES. (DUE TO MACRO ECONOMIC DATA)

OPEN POSITIONS
NONE

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STANDARD DISLCOSURE:-

PLEASE NOTE THESE MOVES ARE AS PER CHARTS AND IT 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.

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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.