NIFTY & BANK NIFTY VIEW FOR 19/02/2016

THROUGHOUT DAY BULLS & BEARS TRIED TO PROVE THEIR DOMINANCE AND IT RESULTED INTO DILEMMA FOR TRADERS TO TRADE ON WHICH SIDE...!!!  

WE HAD SAID CLEARLY IN OUR LAST POST THAT ADDITIONS IN 7200 CE & PE SHALL MAKE INTERESTING MOVES AHEAD.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Highest OI tag is still with 7400 CE but additions in 7300 CE & 7200 PE is also interesting. Deep ITM options have undergone liquidations. 

Bank Nifty options range remains same. 

Highest OI tag for Nifty is with 7000 PE & 7400 CE. 

Highest OI tag for Bank Nifty is with 14000 PE & 15000 CE. 

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

RESISTANCE LEVELS:- 7235, 7321 & 7427
SUPPORT LEVELS:- 7148, 7041, 6975 & 6869

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

RESISTANCE LEVELS:- 14526 & 14747 
SUPPORT LEVELS:- 14252, 14084 & 13811

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.44
PE RATIO FOR BANK NIFTY STANDS AT 15.85

NIFTY PCR ON BASIS OF OI IS 0.85
BANK NIFTY PCR ON BASIS OF OI IS 0.69

FINAL CONCLUSION

Looking at option chain we feel that tomorrow Bears shall try their best to close below 7200 also if we see flashes till 7100-7120 we would not be surprise. Somehow we feel in session or two highest OI tag for CE front may get shifted to 7300. 

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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.

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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.