NIFTY & BANK NIFTY VIEW FOR 29/12/2015

7850 TO 7950 WAS THE RANGE GIVEN BY US IN OUR LAST POST FOR LAST TRADING AND IT WAS WELL RESPECTED BY BULLS & BEARS...!!! (PLEASE NOTE THAT WAS ON BASIS ONLY OPTION CHAIN AND NOT EVEN CHARTS WERE CONSIDERED)

ALSO IF WE CONSIDER CHARTS THEN IMPORTANCE OF OUR LEVELS WE HAVE PROVED SO MANY TIMES IN PAST...!!!

ANYWAY NOW WE HAVE 3 SESSIONS LEFT FOR DECEMBER SERIES EXPIRY AND NOW WE FEEL OPTIONS DATA MAY NOT GIVE TRUE RANGE AS EVEN NEXT SERIES OPTIONS DATA ARE YET TO UPDATED AS TRADERS MAY NOT HAVE BUILT POSITION IN THAT...!!!

NOW LETS DISCUSS OPTIONS DATA FOR NIFTY & BANK NIFTY

Huge liquidation was seen in ITM call options where OTM put options too had undergone same story but 7900 PE undergone highest addition in last trading session and highest OI tag on PE front shifted to 7500 to 7800 PE, whereas on 8000 CE remained as it is...!!!

Next series highest OI tag remains with 7500 PE & 8200 CE. So looking at this we feel that next series range shall be between these 2 levels only. (Repeat comment)

Now if we see Bank Nifty then highest OI tag is with 16500 PE & 17000 CE (but 17500 CE is almost neck to neck with 17000 CE)

Next series Bank Nifty option chain gives hint to range of 15500 to 17500. 

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

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

RESISTANCE LEVELS:- 7979, 8042 & 8080

SUPPORT LEVELS:- 7916, 7878 & 7815

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 21.43
PUT CALL RATIO ON BASIS OF OI IS 1.01

FINAL CONCLUSION

NIFTY

DECEMBER SERIES OPTIONS DATA GIVES HINT TOWARDS MOVES BETWEEN 7800 TO 8000 BUT LATEST ADDITION IN 7900 PE HINTS FOR SOME VOLATILE MOVES IN NIFTY. ALSO NEXT SERIES 8200 CE MAY PLAY CRUCIAL ROLE. 

BANK NIFTY IS INCHING ON HIGHER SIDE FOR CROSSING 17000 BARRIER ON CLOSING BASIS.

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STANDARD DISLCOSURE:-

PLEASE NOTE THESE MOVES ARE AS PER CHARTS AND OPTIONS CHAIN WHICH 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. WHILE UTMOST CARE HAS BEEN TAKEN WHILE ANALYSING CHARTS 7 OPTIONS DATA BUT IF INCASE THERE IS ANY HUMAN ERROR WE ARE APOLOGISE FOR IT.

WE REQUEST ALL READERS TO GIVE THEIR FEEDBACK ON NIFTY50STRIKER@GMAIL.COM OR BY CALLING/WHATSAPP MESSAGE ON 08866145155 OR BY COMMENTING ON THIS BLOG POST.

ABOUT AUTHOR ~ MANUSH VADHER

WORKING AS SHAREKHAN SUB BROKER AND HOLDING MASTER DEGREE IN FINANCE HAVING EXPERIENCE OVER 10 YEARS IN CAPITAL MARKET.