NIFTY & BANK NIFTY VIEW FOR 17/12/2015

AGAIN BULLS MANAGED TO PROVED THEIR DOMINANCE IN MARKET.

NOW LETS DISCUSS OPTIONS DATA FOR NIFTY & BANK NIFTY.

Almost 19 lakh shares were added in 8000 CE so we feel that some how traders are betting on upside on account of Fed event. Also more than 8 lakh shares were in 7800 CE that also reflects more chances of upside than on downside though almost 5 lakh shares were added in 7600 PE.

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

RESISTANCE LEVELS:- 7765, 7815 & 7878

SUPPORT LEVELS:- 7715, 7652 & 7613


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

RESISTANCE LEVELS:- 16689, 16843 & 16998
SUPPORT:- 16497, 16379 & 16188

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PUT CALL RATIO ON BASIS OF OI IS 0.89
PE RATIO FOR NIFTY STANDS AT 20.96

FINAL CONCLUSION

NIFTY

THOUGH TRADERS ARE BETTING ON FED EVENT WE FEEL NIFTY & BANK NIFTY HAVE ALREADY GIVEN REVERSAL AND WE FEEL BULLS MAY CONTINUE THEIR UPSIDE MOVEMENT IN COMING SESSIONS.


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.