NIFTY & BANK NIFTY VIEW FOR 23/12/2015

IN OUR LAST POST WE HAD SAID THAT MONDAY'S OPTIONS DATA ARE MIRROR IMAGE OF LAST THURSDAY. RESULT IS IN FRONT OF US...!!! 

THURSDAY WE HAD RALLY IN NIFTY THEN DOWN ON FRIDAY AGAIN RALLY ON MONDAY AND YESTERDAY DOWNFALL...!!!


NOW LETS DISCUSS OPTIONS DATA FOR NIFTY.

Huge liquidation was seen in 7800 PE and 8000 CE during last trading session. But highest OI tag remains with 7500 PE & 8000 CE.

Now if we consider additions then 7900 CE undergone addition of more than 600k shares during last trading session which can help bulls ot conquer 7850-7900 zone in coming days. 

If we talk about Bank Nifty then highest OI tag remains with 16500 PE & 17500 CE which shall act as support and resistance in coming days...!!!

Please note this analysis may change with change in option chain. 

Next few sessions shall be critical for Bulls & Bears...!!! We are on wait and watch mode for Nifty trading...!!!

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

RESISTANCE LEVELS:- 7815 & 7878

SUPPORT LEVELS:- 7765, 7714 & 7652

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

RESISTANCE LEVELS:- 16843, 16997 & 17189
SUPPORT:- 16688 & 16498 

NOW LETS SEE SOME IMPOTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.06
PUT CALL RATIO ON BASIS OF OI IS 0.89

FINAL CONCLUSION

NIFTY

AS DISCUSSED IN OPTIONS DATA ANALYSIS WE FEEL THAT BULLS SHALL TRY TO CONQUER 7800-7900 ZONE DUE TO ADDITION IN 7900 CE & 8000 PE. 

CLOSED POSITIONS

BANK NIFTY NIFTY 16000 PE & 17200 CE. (ENTERED AT 120 NOW CLOSED AT GAINS OF 80 POINTS )

OPEN POSITIONS
ENTERED IN 16400 PE & 17000 CE (BANK NIFTY) COMBINED PREMIUM 100

MARUTI 4500 PE & 4800 CE (ENTERED AT 40 NOW BELOW 25/-)

WRITE/SELL LUPIN 1850 CE AT 12.40


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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.