NIFTY & BANK NIFTY VIEW FOR 23/11/2015

ALMOST 90 POINTS MOVE BUT CLOSING FLAT...!!!

NOTHING ELSE BUT OPTION PREMIUM CHEWING...!!!

RESULTED INTO RESPECTING OUR VIEW OF VOLATILE MOVES AND LIMITED UPSIDE...!!!

ANYWAY NOW IF WE MOVE AHEAD THEN SAME STORY OF OPTIONS CHAIN GIVE RANGE COMES BETWEEN 7700 TO 8000 BUT SOMEHOW 8000 PE OF DECEMBER SERIES GIVES COME CAUTION IN MOVES IN COMING DAYS.

WE FEEL NOTHING MUCH WE HAVE TO DISCUSS ABOUT NIFTY MOVES AND ALL; AS NEAR TO EXPIRY WE DO NOT HAVE MUCH TO DISCUSS ABOUT OPTION CHAIN OR LEVELS AS NIFTY CLOSED FLAT & OPTION CHAIN NEAR TO EXPIRY MAY NOT GIVE CLEAR INDICATION.

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:-

RESISTANCE LEVELS:- 17138 & 17307
SUPPORT:- 16927, 16798 & 16587

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 0.80
PE RATIO FOR NIFTY STANDS AT 21.24

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. (REPEAT COMMENT)

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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ABOUT AUTHOR ~ MANUSH VADHER

WORKING AS SHAREKHAN SUB BROKER AND HOLDING MASTER DEGREE IN FINANCE HAVING EXPERIENCE OVER 10 YEARS IN CAPITAL MARKET.