NIFTY & BANK NIFTY VIEW FOR 20/01/2016

MOVES AS EXPECTED...!!!

NOT ONLY NIFTY BUT BANK NIFTY TOO...!!!

IN OUR LAST POST WE HAD SAID CLEARLY THAT WE ARE EXPECTING SOME PULL BACK IN NIFTY & BANK NIFTY AND TODAY BOTH MOVED AS PER OUR EXPECTATIONS...!!!

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Huge unwinding is seen in ITM PE and also on few OTM CE in Nifty. But good built up was seen in 7500 CE today. 

Bank Nifty option chain changes are as per our expectation that 15000 PE may overtake 15500 PE highest OI tag. 

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

Highest OI tag for Bank Nifty is with 15000 PE & 16000 CE. 

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

RESISTANCE LEVELS:- 7486 & 7579
SUPPORT LEVELS:- 7429, 7394 & 7335

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

RESISTANCE LEVELS:- 15455, 15763 & 16012
SUPPORT:- 15147 & 14965 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.86 (as on 19/01/2016)
PUT CALL RATIO ON BASIS OF OI IS 0.84

FINAL CONCLUSION

Looking at unwinding in ITM PE & OTM CE and addition in 7500 CE we feel that we can move some upside from here but upside OI in 7600 CE may play crucial role as we feel that coming days 7600 CE may take highest OI tag from 7700 CE.

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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.