NIFTY & BANK NIFTY VIEW FOR 09/03/2016

THANK YOU NIFTY...!!!

WE ARE THANKFUL TO AS NIFTY OBLIGED OUR VIEW WHICH WE HAD SHARED IN OUR LAST BLOG POST AND ALSO DURING TRADING HOURS TODAY...!!!

VIEW GIVEN FOR TODAY'S SESSION AS WAS UNDER:-

DURING TRADING HOURS WE HAD ALSO SHARED OUR VIEW ON OUR TELEGRAM CHANNEL.

WHEN THIS WAS SHARED POST NIFTY WAS HOVERING AT 7450 AND THEREAFTER LOW OF 7442 WAS MADE AND THEN AT END NIFTY CLOSED FLAT.

ALSO TODAY DURING TRADING HOURS WE HAD SHARED OUR VIEW ON MARUTI WITH ONE OF OUR PROSPECTIVE STUDENT.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Huge additions were seen in 7600 to 7800 CE (not considered xx50 strike price) Also liquidations were seen in ITM CE strike prices. If we talk about PE front then mammoth additions were made in 7200 PE which may take highest OI tag from 7000 PE in coming 2-3 sessions. Also additions in 7300 to 7500 PE were significant today (which can  be considered in direct relation with additions in OTM CE too) 

Highest OI tag is with 7000 PE & 7500 CE. 

Bank Nifty ~ Additions were seen 14700, 14500 & 14000 PE. On CE front huge additions were seen in 15500 & 16000 CE. 

Highest OI tag is with 14000 PE & 15500 CE. 

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:- 14813 & 14545

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.20
PE RATIO FOR BANK NIFTY STANDS AT 16.83

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

FINAL CONCLUSION

Nifty
As per option chain changes we expect 7200 PE shall take highest OI tag from 7000 PE. Also on CE front additions in OTM CE looks like shifting may take place there too...!!! 

PCR being again in over bought zone we feel correction till 7400 levels for spot Nifty cannot be ruled out. 

Bank Nifty
If we talk about Bank Nifty then downside level of 14800 can be seen in coming 2-3 sessions (as we expect change of highest OI tag there also on PE front) 

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

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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