NIFTY & BANK NIFTY VIEW FOR 05/11/2015

8032 WAS SUPPORT GIVEN BY FOR SPOT NIFTY IN OUR LAST POST AND LAST TRADING SESSION LOW IS 8027 NOT ONLY THAT ONE STAGE NIFTY ALSO TOOK FEW POINTS REVERSAL FORM 8032.40...!!!

WE HAVE BEEN TELLING ONE AND SAME THING IN OUR LAST 2 POSTS THAT THOUGH MONDAY'S CANDLE WAS OF REVERSAL KIND OF CANDLE WE NEED 2-3 SESSIONS FOR CONFIRMATION OF REVERSAL IN TREND.

NOW LETS TRY TO SEE NIFTY DAILY CHART.

NOW IF WE SEE 2 SHADED AREA THEN BOTH ARE OF SIMILAR PATTERN AND IF TODAY'S CANDLE MOVE IS ALSO SAME AS PREVIOUS MOVE THEN WE CAN EXPECT NIFTY TO BREACH 7900 LEVELS TOO..!!!

NIFTY:-

LAST CLOSE 8040.20 (SPOT)
CONTINUOUS ADDITIONS ARE SEEN IN 7800 PE WHERE ON CALL SIDE RIGHT FROM 8100 TO 8550 ADDITIONS MADE DURING LAST TRADING SESSION. ALSO SIGNIFICANT ADDITIONS WERE SEEN IN 8100, 8200, 8300 & 8400 STRIKE PRICES.  

BANK NIFTY:-

LAST CLOSE 17221.05 (SPOT)

GOOD ADDITION WERE MADE IN 16500 PE AND 17500 CE. THOUGH HIGH OI TAG REMAINS WITH 17000 PE & 18000 CE RESPECTIVELY. 

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

SLOWLY SLOWLY NIFTY IS MELTING WITH NEGATIVE BIAS. WE HAVE MAJOR EVENT ON SUNDAY SO IT SEEMS THAT TRADERS ARE MAKING POSITION ON BOTH SIDE. 

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 0.99
PE RATIO FOR NIFTY STANDS AT 21.87 

FINAL CONCLUSION

NIFTY & BANK NIFTY

DURING LAST TRADING SESSION BANK NIFTY SHOWED MORE WEAKNESS NIFTY AND IT IS NEAR TO SUPPORT ZONE.

LOOKING POLITICAL EVENT IN NEAR FUTURE IT SEEMS INDICES MAY REMAIN RANGE BOUND WITH STOCK SPECIFIC MOVES. 

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.