NIFTY & BANK NIFTY VIEW FOR 24/02/2016

JUST IN SINGLE SESSION ALL WORK DONE BY BULLS IN LAST 4 SESSIONS WASHED AWAY...!!!

INFACT OUR VIEW SHARED IN LAST BLOG POST ALSO FAILED.

HIGH ACCUMULATION MADE IN 7200 PE DURING LAST FEW SESSIONS PROVED ITS POWER TODAY.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

February Series 
Nifty ~ Huge unwinding was seen in 7200 PE whereas high additions were also seen in 7200 CE today. Infact huge additions were seen in 7050 PE too.

Highest OI tag is with 7000 PE but additions in 7050 PE is quite interesting. 

Highest OI tag is with 7000 PE & 7200 CE. 

Bank Nifty ~ Huge unwinding seen in all PE (from 14000 to 15000) 

Highest OI tag is with 13500 PE & 14500 CE. 

March Series 
Nifty ~ Good Additions are made all PE strike prices (except 9500) Significant additions were made in 7400 CE today. 

Highest OI tag is with 7700 CE & 7000 PE.

Bank Nifty ~ Small additions were seen in 13500 PE & 15000 CE during today's session. 

Highest OI tag is with 13500 PE & 15000 CE.

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

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

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

RESISTANCE LEVELS:- 14084, 14252, 14526 & 14747 
SUPPORT LEVELS:- 13811 & 13626

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.23
(as on 23/02/2016)
PE RATIO FOR BANK NIFTY STANDS AT 15.95
(as on 22/02/2016)

FEBRUARY SERIES

NIFTY PCR ON BASIS OF OI IS 0.69
BANK NIFTY PCR ON BASIS OF OI IS 0.57

MARCH SERIES

NIFTY PCR ON BASIS OF OI IS 0.84
BANK NIFTY PCR ON BASIS OF OI IS 1.45

FINAL CONCLUSION

Looking at additions in 7050 PE and OI highest shifting from 7200 to 7000 with change in Bank Nifty options chain (from 14000 to 13500) we feel that before expiry we may see some more downside moves till 7050 spot levels. For Bank Nifty range comes at 13600-13700 mark. 

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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.