NIFTY & BANK NIFTY VIEW FOR 28/01/2016

ONLY 2 SESSIONs WERE LEFT BEFORE TODAY'S TRADING SESSION AND STILL OPTION CHAIN ANALYSIS ROCKED...!!!

7300 PE & 7500 CE ACTED SUPPORT & RESISTANCE...!!! THOUGH LOWER LEVEL WAS NOT TOUCHED BUT STILL UPSIDE CAP ACTED AS STIFF RESISTANCE.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

7400 PE is highest PE OI (earlier it was 7300 PE) and 7500 CE is as it is...!!!

Now if we see changes in CE front in January series Nifty options chain then we feel 7600 will not be crossed under any circumstances in next trading session. 

Next series options chain is very much interesting to watch  and analyse. As because 7200 PE is having highest OI and total OI in 7600 CE & 8000 CE is in cut throat competition (to act as resistance) (Another important and interesting moves already taken place February series which we cannot disclose to protect interest of our Technical Analysis students)  

Highest OI tag for Nifty is with 7400 PE & 7500 CE. (January series) 

Highest OI tag for Nifty is with 7200 PE & 8000 CE. (February series) 

Highest OI tag for Bank Nifty is with 15000 PE & 16000 CE. (January series)

Highest OI tag for Bank Nifty is with 15000 PE & 16000 CE. (February series) 

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

RESISTANCE LEVELS:- 7520, 7607 & 7693
SUPPORT LEVELS:- 7414, 7348 & 7241

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

RESISTANCE LEVELS:- 15638, 15911 & 16183
SUPPORT:- 15300, 15092 & 14754

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.05
PE RATIO FOR BANK NIFTY STANDS AT 16.15 (as on 25/01/2016)

JANUARY SERIES
NIFTY PCR ON BASIS OF OI IS 0.84
BANK NIFTY PCR ON BASIS OF OI IS 0.86

FEBRUARY SERIES

NIFTY PCR ON BASIS OF OI IS 1.04

BANK NIFTY PCR ON BASIS OF OI IS 0.92

FINAL CONCLUSION

In our last post we had said that we expect Nifty to expire around 7540-7580 zone but now looking at change in option chain we feel that it will be tough for bulls to cross 7500 too...!!!

Infact next series option chain changes reflects tough days ahead for Bulls...!!! 

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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.

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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.