NIFTY & BANK NIFTY VIEW FOR 21/01/2016

UNEXPECTED FALL...!!!

TODAY'S FALL WAS TOTALLY UNEXPECTED...!!!

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Slowly slowly big traders are exiting from ITM contract in PE front whereas far OTM CE are also witnessing liquidation. 

Today 7300 PE acted as support but if we see additions in 6800 & 7100 PE then it gives hint that still more downside cannot be ruled out. 

If we see unwinding in 7700 & 7600 CE and compare it with additions in 7300 & 7400 CE then again we feel road ahead for bulls shall not be easy. 

After 1 day halt again Bank Nifty close below its highest PE OI.

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:- 
Will be posted on our FB page once market opens tomorrow.
SUPPORT LEVELS:- 
Will be posted on our FB page once market opens tomorrow.

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

RESISTANCE LEVELS:- 
Will be posted on our FB page once market opens tomorrow.
SUPPORT:- 
Will be posted on our FB page once market opens tomorrow.

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.74
PUT CALL RATIO ON BASIS OF OI IS 0.87

FINAL CONCLUSION

Looking at unwinding in ITM PE & OTM CE and additions in 7300, 7400 & 7500 CE leads to some doubt over upside now as huge additions were also seen 7100 & 6800 PE. 

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ABOUT AUTHOR ~ MANUSH VADHER

WORKING AS SHAREKHAN SUB BROKER AND HOLDING MASTER DEGREE IN FINANCE HAVING EXPERIENCE OVER 10 YEARS IN CAPITAL MARKET.