TODAY'S MOVE IN NIFTY WAS NOTHING LESS THAN TRAP FOR RETAIL TRADERS FOR TRADING...!!!
NIFTY FUTURE OPENED WITH GAP OF MORE THAN 30 POINTS THEREAFTER BULLS MANAGED TO LIFT IT NEAR TO 7600 MARK THEN LOW OF 7432 WAS RECORDED BEFORE BULLS MANAGED TO CLOSE AT 7572 MARK...!!! THUS INTRADAY SWING OF MORE THAN 150 POINTS WAS RECORDED IN NIFTY FUTURE...!!!
THUS NIFTY OBLIGED OUR VIEW THAT ROAD AHEAD FOR BULLS SHALL NOT EASY DUE TO OI IN 7500 & 7300 PE (GIVEN IN LAST BLOG POST)
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
PE RATIO FOR NIFTY STANDS AT 20.45NIFTY FUTURE OPENED WITH GAP OF MORE THAN 30 POINTS THEREAFTER BULLS MANAGED TO LIFT IT NEAR TO 7600 MARK THEN LOW OF 7432 WAS RECORDED BEFORE BULLS MANAGED TO CLOSE AT 7572 MARK...!!! THUS INTRADAY SWING OF MORE THAN 150 POINTS WAS RECORDED IN NIFTY FUTURE...!!!
THUS NIFTY OBLIGED OUR VIEW THAT ROAD AHEAD FOR BULLS SHALL NOT EASY DUE TO OI IN 7500 & 7300 PE (GIVEN IN LAST BLOG POST)
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Except 7800 CE; 7600, 7700, 7900 to 8600 CE (not considered xx50 strike price CE ) all undergone liquidation whereas on PE front 7500 PE too shed more than 300k shares in OI.
Highest OI tag remains with 8000 CE & 7500 PE for Nifty. But looking at liquidation in 7500 PE if 7300 PE or 7400 PE takes away highest OI tag from 7500 PE we shall not be surprised.
Highest OI tag for Bank Nifty is with 15500 PE & 17000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
Highest OI tag remains with 8000 CE & 7500 PE for Nifty. But looking at liquidation in 7500 PE if 7300 PE or 7400 PE takes away highest OI tag from 7500 PE we shall not be surprised.
Highest OI tag for Bank Nifty is with 15500 PE & 17000 CE.
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR NIFTY:-
RESISTANCE LEVELS:- 7612 & 7651
SUPPORT LEVELS:- 7551, 7490, 7452 & 7390
SUPPORT LEVELS:- 7551, 7490, 7452 & 7390
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-
RESISTANCE LEVELS:- 15981, 16060 & 16188
SUPPORT:- 15748, 15852, 15645 & 15516
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
SUPPORT:- 15748, 15852, 15645 & 15516
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PUT CALL RATIO ON BASIS OF OI IS 0.86
FINAL CONCLUSION
Mammoth additions took place in 7300 PE on Tuesday which lead to dramatic fall in today's session. Also if we see liquidation took place in today CE then we feel upside in current series is bit reserved. Also if we see net additions in 7400 PE then we feel that in coming days we can see flashes below 7500 Nifty again.
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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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