NIFTY & BANK NIFTY VIEW FOR 08/02/2016

LAST TRADING SESSION BULLS MADE SURPRISE COME BACK BUT THAT WAS ALSO PROPERLY DEFENDED BY BEARS AND AT POINT OF TIME POST NIFTY WAS ALMOST FLAT TO PREVIOUS CLOSE BUT AGAIN AT CLOSE BULLS MANAGED COUNTER ATTACKED WHICH RESULTED INTO GREEN CLOSING.

BEFORE WE START OPTIONS DATA ANALYSIS LETS TRY TO SEE NIFTY DAILY CHART.

We can see that Spot Nifty faced resistance at 21 EMA. Coming 2-3 sessions will be difficult for Bulls if this 21 EMA hurdle is not crossed convincingly. 

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Now we feel proper positions are built in options chain. But we feel highest OI gap of just 200 points is not exact picture which is getting reflected...!!!

Daily basis OI change is not enough to know exact trend but total OI on daily basis is also to be studied. (We have already passed on our view to Technical Analysis students about it)

Now if we see net changes in option chain then during last trading session some liquidation took place in ITM CE (7200 to 7550 CE) against which we feel that huge addition in 7500 to 7200 PE (no considered xx50 PE strike prices)

Tough fighte between 7500, 7700 & 7800 CE for 2nd highest OI tag...!!!

On PE front good position builtup is seen till 7000 PE (except unwinding in 7200 PE)

Now if we talk about Bank Nifty then there is tough fight between 15000 & 14500 PE for highest OI. But looking at mammoth built up at 16000 CE we feel that it will be difficult task for bulls to cross it. 

Highest OI tag for Nifty is with 7400 PE & 7600 CE. 

Highest OI tag for Bank Nifty is with 15000 PE & 16000 CE. 

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

RESISTANCE & SUPPORT LEVELS SHALL BE POSTED ON OUR FACEBOOK PAGE ONCE MARKET OPENS ON MONDAY. 

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

RESISTANCE & SUPPORT LEVELS SHALL BE POSTED ON OUR FACEBOOK PAGE ONCE MARKET OPENS ON MONDAY. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.99
PE RATIO FOR BANK NIFTY STANDS AT 15.64

NIFTY PCR ON BASIS OF OI IS 0.99
BANK NIFTY PCR ON BASIS OF OI IS 0.80

FINAL CONCLUSION

Generally we neither correlate our Market/ Indices with US Markets/Indices nor we do it with developments across the globe but we feel that some minor red opening cannot be ruled out for our market tomorrow. 

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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.

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.