NIFTY & BANK NIFTY VIEW FOR 03/12/2015

FROM OUR LAST 2 POSTS WE HAVE BEEN TELLING ONLY 1 THING ONLY THAT IT WILL BE TOUGH JOB FOR BULLS TO CROSS 8000 FOR SPOT NIFTY.

TODAY SPOT NIFTY MADE HIGH OF 7979 AND NIFTY FUTURE 8003..!!!

NOW LETS DISCUSS OPTIONS DATA FOR NIFTY & BANK NIFTY.

In our last post we had said that we are expecting 8000 or 8300 CE may take tag of highest OI and today 8000 CE respected our view...!!!

So with this change we can expect that 8000 may automatically act as wall of resistance...!!! 

Now if we see additions in 8000, 8100 & 8200 CE then huge additions are made which reflect some big moves in coming days. 

Whereas on PE side of option chain again 7500 & 8000 PE are having almost same OI. 

Bank Nifty option chain still reflects same positions on lower side and upper side on OI basis. (17000 on lower side and 18000 on upper side) 

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:- 17308, 17478 & 17689
SUPPORT:- 17138, 16927 & 16797
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 0.95
PE RATIO FOR NIFTY STANDS AT 21.51 
(AS ON 02/12/2015)

FINAL CONCLUSION

NIFTY

AS HUGE ADDITIONS AR MADE IN OTM CE WE FEEL SOME HUGH MOVE IS EXPECTED ON UPSIDE IN COME DAYS.

OPEN POSITIONS
IDFC

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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.