NIFTY & BANK NIFTY VIEW FOR 13/11/2015

WISHING YOU ALL VERY HAPPY & PROSPEROUS NEW YEAR.

LAST TRADING SESSION WAS VERY SMALL AND VOLUMES WERE ALSO VERY LOW & TODAY WE HAVE LAST TRADING SESSION OF WEEK SO TODAY WE MAY SEE SOME VOLATILE MOVES.

AT FIRST WE ARE TRADING TO PRESENT LONG TERM CHART FOR SPOT NIFTY.

PLEASE NOTE THIS CHART WAS STUDIED AT FIRST ON MONTHLY CHART THEN REFINED TO DAILY CHART. SO LOOKING AT THIS IT IS VERY MUCH CLEAR THAT WE ARE IN DOWNTREND AND IF THIS MOVES ARE CONTINUED THAEN WE MAY SEE NEW LOW BELOW 7500 VERY SOON...!!!

NOW LETS COME BACK TO OPTIONS DATA.

DURING LAST TRADING SESSION AGAIN ADDITIONS WERE SEEN IN 7700 & 7800 PE. ON CE FRONT HUGE ADDITIONS WERE MADE IN 8000 & 8100 CE SO AS PER LAST VIEW WE STILL FEEL THAT SLOWLY SLOWLY 8000 CE WITH GET TAG OF HIGHEST CE AND THAT MAY ACT AS RESISTANCE. 

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:- 17163 & 17494.

SUPPORT LEVELS:- 16896, 16628 & 15
762

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 0.69 (OVERSOLD ZONE ~ ON TRADING PERSPECTIVE) 
PE RATIO FOR NIFTY STANDS AT 21.17

FINAL CONCLUSION

NIFTY & BANK NIFTY

ALREADY OUR TARGET OF 7765 HAS BEEN ACHIEVED WITH LEVERAGE OF 10-15 POINTS. NOW AS LAST TRADING SESSION WAS VERY SMALL AND OPTION DATA IS STILL NEGATIVELY POISED WE FEEL WE CAN SEE MOVES TILL 7720-7750 ZONE EASILY. 

ALSO TO SAY IF WE CONSIDER BANK NIFTY OPTION CHAIN THAN IT SEEMS THAT MOVES BEYOND 17500 IS VERY TOUGH AND WE CAN SEE SOME DOWNSIDE FLASHES TILL 16500 OR EVEN BELOW THAT . 

OPEN POSITIONS
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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.