NIFTY & BANK NIFTY VIEW FOR 02/03/2016

BIGGEST RALLY AFTER 2009...!!!

BUT DO NOT FORGET THAT ALMOST SIMILAR POINTS (NOT PERCENTAGE) FALL IS JUST ABOUT 12 SESSIONS BACK...!!! 

BEFORE START OF TRADING SESSION WE HAD CLEARLY SAID (ON OUR FACEBOOK PAGE) THAT WE EXPECT BOUNCE IN TODAY SESSION BUT THEN RANGE-BOUND SESSION BUT IT WAS ONCE SIDED SESSION TODAY BY BULLS VERY VERY LONG TIME.

ANOTHER SIMPLE LOGIC THAT WHEN EVERY ONE IS IN SELL MODE THEN ONE MUST BE CAUTIOUS. REST READER IS MORE WISE THEN WRITER/AUTHOR OF BLOG.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Mammoth additions were made in 7200 & 7400 CE. But surprisingly 7300 CE undergone liquidation during today's 200+ rally. Also no liquidation was seen in PE front (except 6600 PE very very minor) 

Also as per our expectation 7200 CE is has got almost same OI that of 7500 CE (difference of just 12k shares) 

Highest OI tag is with 7000 PE & 7500 CE. 

Bank Nifty ~ Additions in 13500 to 15000 PE (except for 13700, 14700 & 15000 PE) Though we had big bang rally in Bank Nifty additions were seen here too...!!!

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

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

RESISTANCE LEVELS:- 7304, 7417 & 7487
SUPPORT LEVELS:- 7213, 7122, 7009

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

RESISTANCE LEVELS:- 14545, 14813 & 15146
SUPPORT LEVELS:- 14276 & 13944

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 18.90
(as on 29/02/2016)
PE RATIO FOR BANK NIFTY STANDS AT 15.50
(as on 29/02/2016)

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 0.96
BANK NIFTY PCR ON BASIS OF OI IS 0.99

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...!!! (Valid till March series expiry)

Nifty
Though Bulls managed to lift Nifty above 7200 (near to 2nd highest OI) Bears did not liquidated their positions in PE infact more and more additions were seen. Somehow we feel this move can go further till 7300 or above. 

Bank Nifty
Liquidation in few ITM & ATM CE shows lack of strength by Bulls. But still move above 14500 (spot) cannot be ruled out in coming days. 

--------------------------------------------------------------------------------

TECHNICAL ANALYSIS WORKSHOP

WE ALSO CONDUCT TECHNICAL ANALYSIS WORKSHOP VIA ONLINE AS WELL AS ONE ON ONE ON PERSONAL BASIS. FOR DETAILS CONTACT US ON 08866145155 (PHONE CALL ONLY)

-------------------------------------------------------------

OUR FACEBOOK PAGE

https://www.facebook.com/nifty50striker/

-------------------------------------------------------------

WE HAVE STARTED TELEGRAM CHANNEL FOR UPDATES ON BASIS OF OUR TECHNICAL ANALYSIS WORK. ADDRESS OF THAT CHANNEL IS AS UNDER:- 

https://www.telegram.me/nifty50view

-------------------------------------------------------------

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.