LAST TRADING SESSION BULLS MANAGED TO CLOSE TRADING SESSION WITH MINOR GAINS BUT VERY FEW OPTIONS BUYERS CLOSED THEIR DAY WITH PROFIT...!!!
BELOW IS THE PROOF FOR IT.
STILL TRADERS ARE IN FEAR THAT NIFTY MAY MELT BELOW 7500 IN COMING SESSIONS BUT WE DO NOT THINK SO, BUT MARKET IS SUPREME AND WE ARE TOO SMALL TO CHALLENGE IT.
INFACT IN OUR LAST POST WE HAD TRIED TO EXPLAIN IN VIA SIMPLE CHART THAT WE SEE TRIPLE BOTTOM FORMATION IN ZONE OF 7500-7600 FOR SPOT NIFTY.
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
PE RATIO FOR NIFTY STANDS AT 20.56BELOW IS THE PROOF FOR IT.
STILL TRADERS ARE IN FEAR THAT NIFTY MAY MELT BELOW 7500 IN COMING SESSIONS BUT WE DO NOT THINK SO, BUT MARKET IS SUPREME AND WE ARE TOO SMALL TO CHALLENGE IT.
INFACT IN OUR LAST POST WE HAD TRIED TO EXPLAIN IN VIA SIMPLE CHART THAT WE SEE TRIPLE BOTTOM FORMATION IN ZONE OF 7500-7600 FOR SPOT NIFTY.
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Most of ITM as well as OTM PE undergone liquidation in OI (from 7450 to 8000).
Whereas on CE front most of ATM and OTM options witnessed addition in OI.
Highest OI tag remains with 8000 CE & 7500 PE for Nifty, whereas for Bank Nifty it is with 15500 PE & 17000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
Whereas on CE front most of ATM and OTM options witnessed addition in OI.
Highest OI tag remains with 8000 CE & 7500 PE for Nifty, whereas for Bank Nifty it is with 15500 PE & 17000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
RESISTANCE LEVELS:- 7654, 7715 & 7765
SUPPORT LEVELS:- 7594 & 7557
SUPPORT LEVELS:- 7594 & 7557
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-
RESISTANCE LEVELS:- 16198, 16289 & 16439
SUPPORT:- 16106 & 16050
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
SUPPORT:- 16106 & 16050
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PUT CALL RATIO ON BASIS OF OI IS 0.88
FINAL CONCLUSION
Due to high volatility options premium eroded during last trading session. Now looking at option chain we feel that we may see Nifty inching upwards but few hiccups cannot be ruled out.
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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 & OPTIONS DATA BUT IF INCASE THERE IS ANY HUMAN ERROR WE ARE APOLOGISE FOR IT.
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 & 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
Bank Nifty Tips
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