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Monday 7 March 2016

NIFTY & BANK NIFTY VIEW FOR 08/03/2016

LAST TRADING SESSION NIFTY MOVED IN TIGHT RANGE OF ABOUT 60 POINTS AND CLOSED ALMOST FLAT BUT REAL SHOW STEALER WAS BANK NIFTY...!!!

NOT ONLY THAT FOR MOST OF THE BLOG POSTS FOR LAST WEEK WE HAD SAID CLEARLY THAT ONCE NIFTY CROSSED 7300 THEN 7500 WILL BE IMMEDIATE TARGET WHICH WAS ACHIEVED BY BULLS...!!!


ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.


March Series 
Nifty ~ Some additions were seen in nearby CE & PE. Mammoth liquidation in CE (from 6900 to 7300) but more additions were seen in 7400 to 7700 CE (wrt to number of shares additions) PE front good quantum of additions were seen in 7100 to 7500.

Highest OI tag is with 7000 PE & 7500 CE. 

Bank Nifty ~ Additions were seen in nearby CE & PE. But surprising action was seen in 16000 CE (as it went through some liquidation) 

Highest OI tag is with 14000 PE & 15500 CE. (16000 CE lost highest OI tag to 15500 due to liquidation)  

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

RESISTANCE LEVELS:- 7512 & 7600
SUPPORT LEVELS:- 7418, 7304 & 7213 

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

RESISTANCE LEVELS:- 15350, 15682 & 16015
SUPPORT LEVELS:- 15146, 14813 & 14545

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.24
PE RATIO FOR BANK NIFTY STANDS AT 17.05

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 1.14
BANK NIFTY PCR ON BASIS OF OI IS 1.11


FINAL CONCLUSION

Nifty
7500 is somehow is acting as strong hurdle and if in coming days highest OI tag for Nifty does not gets shifted to highest strike price then Bulls may find some difficulty as we feel that even Bank Nifty is losing its strength (as highest OI is shifted again to lower strike price) also we feel as PCR is in overbought zone hence bulls may have to face difficult time in coming days. 

Bank Nifty
Though Bank Nifty closed higher but as 16000 CE lost highest tag to 15500 we feel bulls may face some resistance at higher levels.
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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. 
NIFTY & BANK NIFTY VIEW FOR 04/03/2016

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