NIFTY MOVING EXACTLY AS PER OUR PREDICTION MADE BASED ON OPTION CHAIN ANALYSIS...!!!
WE HAD SPECIFICALLY SAID IN OUR LAST POST THAT THOUGH 7500 PE IS HAVING HIGHEST OI BUT ADDITIONS MADE IN 7300 & 7400 PE DURING MONDAY'S SESSION SAYS DIFFERENT STORY ALTOGETHER...!!!
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
PE RATIO FOR NIFTY STANDS AT 20.31WE HAD SPECIFICALLY SAID IN OUR LAST POST THAT THOUGH 7500 PE IS HAVING HIGHEST OI BUT ADDITIONS MADE IN 7300 & 7400 PE DURING MONDAY'S SESSION SAYS DIFFERENT STORY ALTOGETHER...!!!
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
High OI in 7500 PE acted as support but MAMMOTH addition in 7300 PE creates some doubt over highest OI tag of 7500 PE.
High additions in 7500 to 7800 CE leads to some expectations for minor pull back in Nifty.
Highest OI tag remains with 8000 CE & 7500 PE for Nifty.
If we look at option chain for Bank Nifty then in coming days we feel 16500 CE may take highest OI tag from 17000 CE.
Highest OI tag for Bank Nifty is with 15500 PE & 17000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
High additions in 7500 to 7800 CE leads to some expectations for minor pull back in Nifty.
Highest OI tag remains with 8000 CE & 7500 PE for Nifty.
If we look at option chain for Bank Nifty then in coming days we feel 16500 CE may take highest OI tag from 17000 CE.
Highest OI tag for Bank Nifty is with 15500 PE & 17000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
RESISTANCE LEVELS:- 7551, 7612 & 7651
SUPPORT LEVELS:- 7490, 7452 & 7390
SUPPORT LEVELS:- 7490, 7452 & 7390
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-
RESISTANCE LEVELS:- 15748, 15852 & 15981
SUPPORT:- 15645, 15516 & 15437
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
SUPPORT:- 15645, 15516 & 15437
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PUT CALL RATIO ON BASIS OF OI IS 0.84
FINAL CONCLUSION
Highest OI high in Nifty 7500 PE act as support (as last 2 days) but at mammoth addition in 7300 PE it seems coming days for BULLS shall not be easy. Further to add 16500 CE for Bank Nifty may take over 17000 CE (which again lead to limited upside) So over all we feel that though we may see some pull back in Nifty but road ahead for bulls shall not be easy.
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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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