AFTER VERY LONG TIME BULLS SHOWED THEIR STRENGTH TODAY AND 7800 WAS CLEARED IN EASILY...!!!
BUT DURING TRADING HOURS WE HAD GIVEN GIVEN 7840 AS TOUGH RESISTANCE TO ONE OF PAID SUBSCRIBER AND IT WAS WELL RESPECTED. BELOW CHART SHALL BE GIVING CLEAR IDEA ABOUT IT.
NOW LETS SEE SOME IMPORTANT NIFTY RATIOBUT DURING TRADING HOURS WE HAD GIVEN GIVEN 7840 AS TOUGH RESISTANCE TO ONE OF PAID SUBSCRIBER AND IT WAS WELL RESPECTED. BELOW CHART SHALL BE GIVING CLEAR IDEA ABOUT IT.
NOW AT FIRST LETS ANALYSE OPTION CHAIN CHANGES.
Again huge unwinding seen in 7800 CE so it whatever positions which were built yesterday were liquidated today. But surprisingly 7800 PE undergone huge additions in OI so we feel it will be tough for bears to crack it on closing basis though highest OI tag on PE front is with 7700 PE.
As only 4 sessions are left for expiry so we feel that options data for this series may not reveal true picture. Majority of OTM CE undergone liquidation so we feel somehow it will be bit tough for bulls to cross 7950 levels till expiry session.
Only surprising thing is 8000 PE December series is having OI of more than 40 lakh shares.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
Again huge unwinding seen in 7800 CE so it whatever positions which were built yesterday were liquidated today. But surprisingly 7800 PE undergone huge additions in OI so we feel it will be tough for bears to crack it on closing basis though highest OI tag on PE front is with 7700 PE.
As only 4 sessions are left for expiry so we feel that options data for this series may not reveal true picture. Majority of OTM CE undergone liquidation so we feel somehow it will be bit tough for bulls to cross 7950 levels till expiry session.
Only surprising thing is 8000 PE December series is having OI of more than 40 lakh shares.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
RESISTANCE LEVELS:- 7861 & 7952
SUPPORT LEVELS:- 7804 & 7714
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-
RESISTANCE LEVELS:- 17138 & 17308
SUPPORT:- 16927, 16798 & 16587
SUPPORT:- 16927, 16798 & 16587
PUT CALL RATIO ON BASIS OF OI IS 0.81
PE RATIO FOR NIFTY STANDS AT 21.20
FINAL CONCLUSION
NIFTY
IGNORING 8000 PE OI OF DECEMBER EXPIRY TIME BEING WE FEEL THAT DUE TO HIGH LIQUIDATION SEEN IN MAJOR CE WE FEEL THAT MORE UPSIDE IN NIFTY FOR NEXT SESSION IS LIMITED.
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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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.
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
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