SLOWLY SLOWLY OPTION CHAIN IS BUILT-UP IS TAKING PLACE AND EFFECT OF THAT CAN BE SEEN EASILY...!!!
SPOT NIFTY MADE HIGH OF 7600 AND THUS IT RESPECTED HIGHEST OI...!!!
PE RATIO FOR NIFTY STANDS AT 20.22SPOT NIFTY MADE HIGH OF 7600 AND THUS IT RESPECTED HIGHEST OI...!!!
ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Mammoth additions were seen in 7800 CE which can act as next hurdle if 7600 is crossed in coming days...!!!
Further if we see then again huge additions were seen in 7500 PE but tough fight is seen between 7500, 7300 & 7200 PE though 7400 PE is having highest OI at present.
Bank Nifty closed with loss of more than 1% over previous close. But as we have closed near to lower end or near to support as per option chain (in comparison to upper end) we feel that some bounce can be seen but again that shall be purely dependent on tomorrow's event.
Highest OI tag for Nifty is with 7400 PE & 7600 CE. (February series)
Highest OI tag for Bank Nifty is with 15000 PE & 16000 CE. (February series)
Further if we see then again huge additions were seen in 7500 PE but tough fight is seen between 7500, 7300 & 7200 PE though 7400 PE is having highest OI at present.
Bank Nifty closed with loss of more than 1% over previous close. But as we have closed near to lower end or near to support as per option chain (in comparison to upper end) we feel that some bounce can be seen but again that shall be purely dependent on tomorrow's event.
Highest OI tag for Nifty is with 7400 PE & 7600 CE. (February 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:- 7607, 7693 & 7800
SUPPORT LEVELS:- 7520, 7414 & 7348
SUPPORT LEVELS:- 7520, 7414 & 7348
NOW LETS TALK ABOUT RESISTANCE & SUPPORT LEVELS FOR BANK NIFTY:-
RESISTANCE LEVELS:- 15638, 15911 & 16183
SUPPORT LEVELS:- 15300, 15092, & 14754
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
SUPPORT LEVELS:- 15300, 15092, & 14754
PE RATIO FOR BANK NIFTY STANDS AT 16.11
(As on 29/01/2016)
NIFTY PCR ON BASIS OF OI IS 1.11
BANK NIFTY PCR ON BASIS OF OI IS 0.91
FINAL CONCLUSION
Both side built-up can be seen in options chain but looking at net addition in 7800 CE we feel upside for Nifty is capped. On downside 7400 may act as support but as we have event tomorrow and still option chain is yet to reflect true picture at present we can only say 7400 & 7600 may act as Support & Resistance.
Huge additions in 15000 PE & 16000 CE in Bank Nifty also to wait for sometime for exact built-up in option chain.
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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.
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ABOUT AUTHOR ~ MANUSH VADHER
Bank Nifty Tips
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