NIFTY & BANK NIFTY VIEW FOR 24/12/2015

IN OUR LAST POST WE HAD SAID CLEARLY THAT BULL SHALL TRY TO CONQUER 7850-7900 ZONE AND TODAY IT HAPPENED TOO...!!!

TO SUPPORT OUR VIEW WE ALWAYS GIVE OUR OPTIONS DATA ANALYSIS TOO.

NOW LETS DISCUSS OPTIONS DATA FOR NIFTY & BANK NIFTY

Huge liquidation was seen in 7800 CE whereas 7800 PE too undergone huge addition. Now again trendline resistance at 7865-7880 zone is strong resistance. Highest OI tag remains with 7500 PE & 8000 CE. (Almost same OI for 7500 PE & 7800 PE)

Also if we next series option chain then again 8000 CE is having highest OI.

So same both option chain tells same story that 8000 shall act as stiff resistance. 

If we talk about Bank Nifty options then 17500 CE witnessed some liquidation whereas minor addition can be seen in 17000 CE. Further to add 16500 to 17000 PE undergone additions in OI. 

So in this way we can say that road ahead for BULL may be easy...!!!

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...!!!

LETS HAVE LOOK AT NIFTY CHART TOO...!!!

Above chart is showing trendline resistance and Nifty closed near to that zone only...!!!

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

RESISTANCE LEVELS:- 7878, 7916 & 7979

SUPPORT LEVELS:- 7815, 7765, 7714 & 7652

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

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

NOW LETS SEE SOME IMPOTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.27
PUT CALL RATIO ON BASIS OF OI IS 0.95

FINAL CONCLUSION

NIFTY

AS DISCUSSED IN OPTIONS DATA ANALYSIS WE FEEL THAT IF WE SEE AGAIN RED OR FLAT CLOSE IN NEXT SESSION WE MAY NOT BE SURPRISED. 

CLOSED POSITIONS

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

MARUTI 4800 CE (ENTERED AT 19-21 RANGE EXITED AT 5-7 PROFIT OF ABOUT 14-16 POINTS) 

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

MARUTI 
WRITE/SELL 4500 PE (ENTERED IN RANGE OF 19-21)
4700 CE (ENTERED AT RANGE OF 23)

LUPIN 
WRITE/SELL 1850 CE AT 12.40

ASHOK LEYLAND
WRITE/SELL 90 CE AT 0.70

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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.