NIFTY & BANK NIFTY VIEW FOR 10/03/2016

TODAY'S OPENING WAS AS PER OUR EXPECTATION BUT IN SECOND HALF BULLS MADE ROCKING COMING BACK AND WHAT HAPPENED THEREAFTER IS HISTORY.

WE HAD EXPECTED DOWNSIDE IN NIFTY TILL 7400 LEVELS AND TODAY'S LOW IS 7424. HOW EVER BANK NIFTY MOVED IN DIFFERENT WAY THAN OUR EXPECTATION.

ANYWAY LETS CHECK UPDATED NIFTY CHART WITH CHANNEL PATTERN.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Huge additions were seen in 7300 to 7600 PE whereas 7000 PE witnessed liquidation of almost 400k shares in OI which resulted in almost same OI in 7200 PE & 7000 PE.

On CE frony not much additions were in 7600 & 7700 but 7500 & 7800 CE undergone good additions.   

Highest OI tag is with 7000 PE & 7500 CE. 

Bank Nifty ~ Overall Bank Nifty CE witnessed good quantum of liquidations with some additions in 15400 CE & 16000 CE. (not considered 16500 CE) 

Highest OI tag is with 14000 PE & 15500 CE. 

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

SHALL BE UPDATED ON OUR FACEBOOK PAGE BEFORE TRADING SESSION STARTS TOMORROW. 

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

SHALL BE UPDATED ON OUR FACEBOOK PAGE BEFORE TRADING SESSION STARTS TOMORROW. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.20
(as per 08/03/2016)
PE RATIO FOR BANK NIFTY STANDS AT 16.83
(as per 08/03/2016)

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 1.16
BANK NIFTY PCR ON BASIS OF OI IS 1.10

FINAL CONCLUSION

Nifty
Addition in PE front leads to some doubt over more upside in coming session. Also 7500 CE is having highest OI tag so till the time it is not shifted to higher strike price some volatile moves near to 7500 cannot be ruled out. 

Bank Nifty
Near by OTM CE strike price has undergone liquidation which can be considered as profit booking by traders.Some consolidation can be expected in Bank Nifty within range of 200 points (spot basis 15150-15350)

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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