NIFTY & BANK NIFTY VIEW FOR 26/02/2016

YESTERDAY NIFTY DID OUR DOWNSIDE TARGET AND TODAY FOR BANK NIFTY ALSO IT IS DONE (BASED ON OPTION CHAIN FOR EXPIRY)...!!! 

BUT CLOSING LEVEL FOR NIFTY & BANK NIFTY ARE BEYOND OUR EXPECTATION.

BEFORE WE ANALYSE CHANGES IN OPTION CHAIN IF WE SEE HIGHEST OI IN MARCH SERIES THEN BEARS MANAGED TO GIVE CLOSE BELOW HIGHEST OI ON PE FRONT.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Huge additions were seen in on both side of options chains today but surprisingly 7500 CE took highest OI tag from 7700 CE (already said by us in last blog post) Further we feel in coming days it will be shifted to lower strike price CE. PE front it will be too tough to say at present. 

Highest OI tag is with 7000 PE & 7500 CE. 

Bank Nifty ~ Good quantum of additions were seen in Bank Nifty options chain too. 

Highest OI tag is with 13500 PE & 14500 CE. 

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

RESISTANCE LEVELS:- 7015, 7061 & 7106
SUPPORT LEVELS:- 6960, 6925 & 6869

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

RESISTANCE LEVELS:- 13623, 13695 & 13810
SUPPORT LEVELS:- 13508, 13414 & 13321 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 18.85
PE RATIO FOR BANK NIFTY STANDS AT 15.29
(as on 24/02/2016)

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 0.93
BANK NIFTY PCR ON BASIS OF OI IS 1.10

FINAL CONCLUSION

Looking option chain data we feel in coming days 7300 will act as strong resistance. But still option chain is yet to give full picture so exact inference out of it will be bit difficult. 

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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.