NIFTY & BANK NIFTY VIEW FOR 05/02/2016

TODAY NIFTY RESPECTED OUR VIEW BY GIVING CLOSE IN GREEN MARKET...!!!

IN OUR LAST POST WE HAD SAID THAT WE EXPECT SOME BOUNCE BACK IN NIFTY BY LOOKING AT OPTION CHAIN CHANGES.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Huge additions were made 7400 to 7700 CE (Not considering xx50 CE) (Repeat comment from last 3 sessions) whereas on PE front highest OI tag is with 7400 PE (almost 7200 PE is head on head with it) 

Only issue is that Bank Nifty 14500 PE is having highest OI (surpassing 15000 PE) where on CE Front it is with 16000.  

Highest OI tag for Nifty is with 7400 PE & 7600 CE. (February series) but stiff competition between 7200 & 7400 PE for highest OI tag in their category.

Highest OI tag for Bank Nifty is with 14500 PE & 16000 CE. (February series) 

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

RESISTANCE LEVELS:- 7420, 7463 & 7515.
SUPPORT LEVELS:- 7378, 7326 & 7294

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

RESISTANCE LEVELS:- 14890, 14973 & 15109 
SUPPORT LEVELS:-  14754 & 14619

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.76
PE RATIO FOR BANK NIFTY STANDS AT 15.31
(As on 03/02/2016)

NIFTY PCR ON BASIS OF OI IS 0.93
BANK NIFTY PCR ON BASIS OF OI IS 0.80

FINAL CONCLUSION

Nifty closed near to highest OI PE but looking at number of sessions left for February series and OI gap between 7400 & 7200 PE we feel again more downside cannot be ruled out. This is also confirmed with change in highest OI tag for Bank Nifty (PE Front).

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TECHNICAL ANALYSIS WORKSHOP

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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.