NIFTY & BANK NIFTY VIEW FOR 02/12/2015

STATUS QUO BY RBI IN KEY RATES AND IT WAS WELL DISCOUNTED BY OPTIONS DATA AS IN OUR POST WE HAD SAID CLEARLY THAT WE FEEL IT WILL BE TOUGH FOR BULLS TO CROSS 8000 MARK ON BASIS OF OPTIONS DATA AND LEVEL OF RESISTANCE AND IT WAS WELL RESPECTED...!!!

NOW LETS DISCUSS OPTIONS DATA FOR NIFTY & BANK NIFTY.

Before even this series started 8000 PE was having highest OI tag but it that got shifted to 7500 PE so by that we can say that 7500 can be considered as immediate bottom. 

Now on CE front if we see then 8000, 8300 & 8500 CE are having almost same number of shares in OI which can be interpreted as bulls may find it difficult to cross 8000 mark...!!! May be very soon we may see that either 8000 or 8300 may become highest OI CE in coming days. 

Now if we see Bank Nifty option chain then huge addition we seen in 17000 PE (highest OI already on PE front) whereas on CE side 17500 & 18000 CE added good number of shares in OI. (Which may become as resistance level)

MANY BANK NIFTY OPTION TRADERS DID NOT GOT THEIR EXPECTED PRICE THOUGH BANK NIFTY REGISTERED BIT DOWN SIDE THAT WAS MAINLY DUE TO HIGH IMPLIED VOLATILITY IN PUT OPTIONS. WHICH MEANS THEY WERE ALREADY TOO MUCH OVER PRICED DUE TO HIGH PREMIUM AND EVENT DAY EXPECTATIONS.

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

RESISTANCE LEVELS:- 8025 & 8099

SUPPORT LEVELS:- 7861 & 7804 
PLEASE NOTE 7952 IS IMPORTANT LEVEL FOR EITHER SIDE MOVE AND WE HAVE BEEN WITNESSING CONSOLIDATION IN THAT ZONE.

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

RESISTANCE LEVELS:- 17478 & 17689
SUPPORT:- 17308, 17138 &16927
PLEASE NOTE 17478 IS IMPORTANT LEVEL FOR EITHER SIDE MOVE AND WE HAVE BEEN WITNESSING CONSOLIDATION IN THAT ZONE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 1.00
PE RATIO FOR NIFTY STANDS AT 21.51

FINAL CONCLUSION

NIFTY

AS MENTIONED OPTION DATA ANALYSIS WE FEEL SOMEHOW IT WILL BE TOUGH FOR BULLS TO CROSS 8000 MARK. (SPOT NIFTY ALWAYS EXCEPT MENTIONED CLEARLY NIFTY FUTURE)

OPEN POSITIONS
IDFC

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.