NIFTY & BANK NIFTY VIEW FOR 18/11/2015

ONE BAD NEWS AND ALL GAINS FLUSHED AWAY IN SINGLE TRADING SESSION.

ONLY GOOD NEWS IN TODAY'S SESSION IS THAT WE HAVE NOT BROKEN MONDAY'S LOW IN TODAY'S BEAR ATTACK.

NOW AT FIRST LETS ANALYSE OPTION CHAIN CHANGES.

Atlast 8000 CE got tag of highest OI which we have been discussing from very long time. 

Important thing which we must notice is that 7700 PE still retained high OI label though we have more than 100 points fall in single session and also at the same time huge unwinding is seen in ITM puts whereas more than 14 lakh shares were added in 7800 CE during today's session so whether bulls will able to cross 7800 or not should be watched out.

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

RESISTANCE LEVELS:- 7804, 7861 & 7952 

SUPPORT LEVELS:- 7714

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

RESISTANCE LEVELS:- 16927, 17138 & 17308 
SUPPORT:- 16798 & 16587

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 20.90

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

CALL GIVEN TODAY 
RISKY TRADE. BUY BANK NIFTY 17000 CE AT 168-173 SL 135. TRGT 225-250-275
RESULT SL HIT.

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:-

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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.