NIFTY & BANK NIFTY VIEW FOR 04/12/2015

8000 PE SHOWING ITS POWER...!!!

CALL OPTIONS DATA IS TOO MUCH VOLATILE AND SHOWS UNCERTAINTY. LAST 3 DAY  HIGHEST OI TAG IS CHANGING DRASTICALLY WHICH GIVES SOME DOUBT OVER STRONG UPSIDE EXPECTATION IN COMING DAYS...!!!

AGAIN IN LAST TRADING SESSION HIGHEST CE TAG WAS GRABBED BY 8200 CE.

NOW LETS DISCUSS OPTIONS DATA FOR NIFTY & BANK NIFTY.

Again additions were made in 7900 to 8300 CE. Especially 8100 to 8300 Strike CE total added more than 40 lakh in OI which gives some expectation of relief rally in coming days. 

At present it seems 7500 PE shall act as strong support and also important thing is no much big additions were seen in OTM strike price CE. But still 8000 PE is having substantial OI which gives limited upside room for bull party.  

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:-

TODAY IS LAST TRADING SESSION OF WEEK AND WE FEEL SOMEHOW FRESH POSITIONS SHOULD BE AVOIDED IF YOU ARE SAFE TRADER IN INDEX.
RESISTANCE LEVELS:- 7952 & 8025

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

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

RESISTANCE LEVELS:- 17138, 17308 & 17478
SUPPORT:- 16927 & 16797
PLEASE NOTE 17138 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 0.86 (INCHING TOWARDS OVERSOLD ZONE)
PE RATIO FOR NIFTY STANDS AT 21.26

FINAL CONCLUSION

NIFTY

AS NIFTY IS COMING TO OVERSOLD ZONE SLOWLY SLOWLY AS PER PCR AND NEAR TO STRONG SUPPORT SAFE POSITIONAL TRADER MUST AVOID TAKING EITHER SIDE POSITION TODAY. 

OPEN POSITIONS
DOT LOW OF SL WAS MADE IN IDFC SO WE HAVE EXITED.

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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.

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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.