NIFTY & BANK NIFTY VIEW FOR 18/01/2016

IN OUR LAST DAILY VIEW BLOG POST WE HAD SAID THAT THOUGH CE ADDITIONS TOOK PLACE DURING THURSDAY'S SESSION; ADDITIONS IN 7500 PE LEADS TO SOME DOUBT OVER FURTHER UPSIDE AND WE ARE EXPECTING NIFTY SUSTAINING BELOW 7500...!!!

THOSE WHO ARE READING OUR BLOG FOR FIRST TIME WE REQUEST THEM TO READ OUR LAST BLOG POST FIRST SO THAT THEY CAN UNDERSTAND THAT WE TRY TO EXPLAIN NIFTY MOVES VIA SIMPLE OPTIONS DATA. QUICK LINK TO THAT POST IS AS UNDER:- 

http://goo.gl/rGLRZi

ALSO DURING LAST TRADING SESSION ANOTHER CHANGE TOOK PLACE WHICH WE WERE EXPECTING FROM LAST 2-3 SESSIONS WHICH WAS OF HIGHEST OI TAG (7700 CE TOOK AWAY 8000 CE)

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Good quantum of additions were seen in 7400 & 7700 CE; Also liquidation were seen in 7500 & 7600 PE in high quantum.  

Surprisingly Bank Nifty closed below highest PE Strike at close of last trading session which can be considered as surprise bY Bears and Bulls caught sleeping. Also 16000 CE took highest OI tag 17000 CE (change of 1000 points instead of 500 which we see usually) 

Highest OI tag for Nifty is with 7300 PE & 7700 CE. 

Highest OI tag for Bank Nifty is with 15500 PE & 16000 CE. 

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

RESISTANCE LEVELS:- 7452, 7489 & 7551
SUPPORT LEVELS:- 7390, 7340 & 7290

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

RESISTANCE LEVELS:- 15308, 15437, 15516 & 15644
SUPPORT:- 15501, 14972 & 14689

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.12
PUT CALL RATIO ON BASIS OF OI IS 0.87

FINAL CONCLUSION

We rarely discuss anything except Indian Market or Indian Indices. But if we see US Market deep red close then we feel our market may also open on lower side but if we see options data and daily indicators on chart then we feel that we can see some bounce back also in our bounce before we close. 

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TECHNICAL ANALYSIS WORKSHOP

WE ARE PLANNING TO CONDUCT TECHNICAL ANALYSIS WORKSHOP IN AHMEDABAD. THOSE WHO ARE INTERESTED ARE REQUESTED TO CONTACT US ON 08866145155.

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.

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.