NIFTY & BANK NIFTY VIEW FOR 28/02/2016

AS IT HAPPENS...!!!

AFTER EVERY EXPIRY BEARS TAKE REST AND BULLS TRY TO DOMINATE...!!!

NOW WE HAVE BIG EVENT ON MONDAY (UNION BUDGET) VOLATILITY WILL BE OBVIOUS FOR WHOLE TRADING SESSION.

ALSO OPTION CHAIN IS YET TO GIVE CLEAR PICTURE WE FEEL SAFE TRADERS SHOULD AVOID TRADING ON MONDAY.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Mammoth additions were made in 7500 CE which shall act as resistance (we have already made in clear via our last post incase if you have missed it then please click here http://goo.gl/oFcRvs)

Also good built-up can be seen in other OTM CE from 7100 to 7400 (as we are on start of series this is regular phenomenon) on PE front highest additions were seen in 6500 PE...!!!  

Highest OI tag is with 7000 PE & 7500 CE. 

Bank Nifty ~ Good quantum of additions were seen in 13000 PE & 15000 (both far OTM) 

Highest OI tag is with 13500 PE & 15000 CE. (CE from shifted to 15000 fro 14500)

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

RESISTANCE LEVELS:- 7061, 7106 & 7161
SUPPORT LEVELS:- 7015, 6960, 6925 & 6869

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

RESISTANCE LEVELS:- 13892, 13976, 14028 & 14111
SUPPORT LEVELS:- 13756, 13672, 13604 & 13536

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 19.01
PE RATIO FOR BANK NIFTY STANDS AT 15.33

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 0.90
BANK NIFTY PCR ON BASIS OF OI IS 0.94

FINAL CONCLUSION

Quarterly close (Jan-March) below 7500 shall make Bear more powerful. Weekly (till March expiry) close above 7300 can give some hope of pull back till 7500...!!!

Further after budget in 2-3 sessions we can see change in highest OI tag for Nifty & Bank Nifty. But still option chain is yet to give full picture so exact inference out of it will be bit difficult. 

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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.