NIFTY & BANK NIFTY VIEW FOR 11/11/2015

HAPPY DIWALI & HAPPY NEW YEAR TO ALL...!!!

DURING LAST TRADING SESSION WE HAD GIVEN ALERT ON OUR FACEBOOK PAGE ABOUT HUGE ADDITION IN 7700 PE SO TRADER NEEDS TO BE CAUTIOUS ON LONG SIDE AND THEREAFTER BEARS MANAGED TO HIT CENTURY...!!!

NOW AGAIN LETS START OUR DISCUSSION WITH NIFTY OPTION CHAIN.

7700 PE UNDERGONE HUGE ADDITION WHEREAS ALMOST SAME QUANTUM OF ADDITION IS SEEN IN 8000 CE BUT STILL HIGHEST CE OI TAG REMAINS WITH 8200 CE.  BUT WE FEEL SLOWLY SLOWLY HIGHEST CE OI TAG SHALL SHIFT TO 8000 CE WHICH IN COMING TIME SHALL ACT AS STRONG WALL OF RESISTANCE.

NOW LETS DISCUSS NIFTY CHART.

WE HAVE ALREADY SAID ONCE AND REPEATING SAME THING AGAIN THAT IN EARLIER POST BY MISTAKE WE HAD GIVEN WRONG TARGET FOR NIFTY AS PER INVERTED FLAG AND POLE PATTERN WHICH WE HAVE RECTIFIED NOW.

NOW WITH 7700 PE TOO GETTING HIGHEST OI TAG, LOOKING AT OPTIONS CHAIN & CHART FORMATION, WE FEEL 7700 MAY ACT AS STRONG SUPPORT ON IMMEDIATE BASIS. (LEVERAGE OF 0.5% ON INDEX VALUE IS TO BE TAKEN)

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

RESISTANCE LEVELS:- 7844, 7938 & 8032

SUPPORT LEVELS:- 7727 & 7540 (PREVIOUS LOW) 

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

RESISTANCE LEVELS:- 16896, 17163 & 17494.

SUPPORT LEVELS:- 16628 & 15762

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 0.60 (OVERSOLD ZONE ~ ON TRADING PRESPECTIVE) 
PE RATIO FOR NIFTY STANDS AT 21.05 

FINAL CONCLUSION

NIFTY & BANK NIFTY

NOW AS WE HAVE ALREADY SEEN THAT OUR PATTERN TARGET IS 7765 AND LAST 2 TRADING SESSIONS LOW IS 7772 WE FEEL SOMEWHERE ON IMMEDIATE BASIS LOW IS MADE AS WE FEEL ON ACCOUNT OF MAHURAT SESSION WE FEEL IGNORING GLOBAL MARKET CUES WE MAY OPEN UPSIDE AND CLOSING MAY BE NEARBY TO PREVIOUS CLOSE ONLY. BUT STILL WE HAVE FRIDAY'S SESSION FOR CLOSING OF THIS WEEK. 

FOR BANK NIFTY TRADE PLEASE STAY AWAY FOR TIME BEING. 

OPEN POSITIONS
NONE

TO GET LIVE MARKET CALLS ON NIFTY/BANKNIFTY ON YOUR WHATSAPP SEND MESSAGE 'NIFTY50STRIKER' ON 08866145155. CALLS SHALL BE GIVEN VIA WHATSAPP ONLY 

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.

WE REQUEST ALL READERS TO GIVE THEIR FEEDBACK ON NIFTY50STRIKER@GMAIL.COM OR BY COMMENTING ON THIS BLOG POST.

ABOUT AUTHOR ~ MANUSH VADHER

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