NIFTY & BANK NIFTY VIEW FOR 17/11/2015

IN OUR LAST POST WE HAD SAID INDIRECTLY THAT WE ARE EXPECTING REVERSAL AS PER OPTIONS DATA AND ALSO AS PER LEVELS THAT WE GIVE THERE. NOT ONLY THAT FEW DAYS BACK WE HAD ALSO THAT WE ARE EXPECTING FLASHES NEAR TO 7700 AND THAT WAS ALSO WELL RESPECTED BY MARKET PARTICIPANTS.

NOW AT FIRST LETS ANALYSE OPTION CHAIN CHANGES.


Option data again reflecting almost similar story of last trading session. Except 7850 PE right from 7800 PE to 8300 PE all ITM PE undergone liquidation whereas on CE front 8100 CE to 8400 CE shed shares except for 8150 CE. So we can say that smart traders are exiting from ITM strike options on both sides.

But also important to say here that 7900 & 8000 CE added more than 13 lakhs in OI and from 7850 to 8150 CE if we club all these strike price options together then total about 18 lakh shares where added in OI. 

So as per per this we can say that 7900 & 8000 CE shall act wall of resistance in coming days though we have highest OI in 8200 CE but that too undergone huge liquidation today.


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

RESISTANCE LEVELS:- 7861, 7952 & 8025

SUPPORT LEVELS:- 7804 & 7714

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

RESISTANCE LEVELS:- 17307 & 17477
SUPPORT:- 17137, 16927 & 16798

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 0.68(OVERSOLD ZONE ~ ON TRADING PERSPECTIVE) 
PE RATIO FOR NIFTY STANDS AT 21.11

FINAL CONCLUSION

NIFTY & BANK NIFTY

IN CONTINUATION TO OUR LAST POST WE STILL HOLD SAME VIEW THAT 2-3 SESSIONS ARE IMPORTANT AND NEEDS TO BE STUDIED AND ANALYSED WITH FULL CARE AS WE MAY SEE SOME FAKE BOUNCE TO TRAP RETAIL TRADERS. 

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.