NIFTY & BANK NIFTY VIEW FOR 03/02/2016

7600 CE ROCKS...!!!

NOT ONLY THAT 15000 PE FOR BANK NIFTY ALSO ROCKS...!!!

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Except 7200 PE all major nearby ITM, ATM  & OTM undergone liquidation whereas 7500 CE  & above CE added shares in OI. 

Coming few sessions will be crucial for deicing further trend in the market. 

Also Bank Nifty closed near to highest OI PE. 

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:- 7520, 7607, 7693 & 7800
SUPPORT LEVELS:- 7414, 7348 & 7241

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

RESISTANCE LEVELS:- 15092, 15300 & 15638 
SUPPORT LEVELS:-  14963 & 14754

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.90
PE RATIO FOR BANK NIFTY STANDS AT 15.84 
(As on 01/02/2016)

NIFTY PCR ON BASIS OF OI IS 0.99

BANK NIFTY PCR ON BASIS OF OI IS 0.82

FINAL CONCLUSION

As Bank Nifty closed near to highest PE OI we feel some bounce from this level cannot be ruled out in coming days. This is also some what confirmed with liquidation in PE & additions in CE front in Nifty 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.

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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.