NIFTY & BANK NIFTY VIEW FOR 17/11/2015

TILL 12 PM TODAY BOTH INDICES RESPECTED OUR LEVELS IN ALMOST AS EXPECTED IN OUR LAST POST.

NOT ONLY THAT FROM LAST FEW POSTS WE HAVE BEEN TELLING ONE AND SAME THING THAT THOUGH 8200 CE IS HAVING HIGHEST OI TAG BUT SLOWLY SLOWLY THAT MY GET SHIFTED TO 8000 CE AND TO VALIDATE THAT WE HAVE BEEN GIVING DAILY UPDATE ON CHANGES IN NIFTY OPTION CHAIN TOO, 
TODAY OI IN BOTH THESE STRIKE PRICES (8000 & 8200) IS NOT HAVING BIG DIFFERENCE LOOKING AT NUMBER OF SESSIONS BEFORE EXPIRY...!!!

NOW AT FIRST LETS ANALYSE OPTION CHAIN CHANGES.

Today's session is having some different story. During today's session there were huge changes in options chain during trading hours and at one time 8000 CE also got highest OI tag surpassing 8200 CE.

Now again additions were seen from 7850 to 8150 CE and with some major additions in 7800 PE to 7900 PE. 

8300 CE undergone huge decrease in OI with 8200 CE. But surprisingly almost 4 lakhs shares were added in 7800 PE. 

So as per this we can say that 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:- 17308 & 17478
SUPPORT:- 17138, 16927 & 16798

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 0.70 (OVERSOLD ZONE ~ ON TRADING PERSPECTIVE) 
PE RATIO FOR NIFTY STANDS AT 21.19

FINAL CONCLUSION

NIFTY & BANK NIFTY

AS EXPIRY IS NEARBY PCR MAY NOT REFLECT TRUE VALUE SO IF ANY TRADER IS TRADING ON POSITIONAL BASIS THEN ONE MUST HAVE LOOK OVER NEXT SERIES OPTION CHAIN (WHICH ALSO MAY NOT REFLECT TRUE PICTURE) AND CHARTS (YES THEY ARE BEST ONE TO REFLECT TRUE PICTURE) 

COMING DAYS WE MAY SEE SOME VOLATILE AND UNDER CERTAIN MOVES BUT WE FEEL SOMEHOW BULLS SHALL BE ABLE TO MANAGE SPOT NIFTY TILL 7950 LEVEL BEFORE EXPIRY BUT SOME HOW IT WILL  BE TOUGH FOR THEM TO CROSS 8000 MARK. 

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.