NIFTY & BANK NIFTY VIEW FOR 14/03/2016

WITH FEW MISSES NIFTY ACTED ALMOST IN SIMILAR WAY AS IT WAS EXPECTED BY US IN OUR LAST POST.

DURING LAST TRADING SESSION THOUGH BULLS MANAGED TO  LIFT NIFTY UP INITIAL TRADES BUT THEN SUDDEN ATTACK BY BEARS SHOCKED TRADERS AND THEREAFTER AT CLOSE AGAIN BULLS MANAGED TO CLOSE NIFTY ABOVE HIGHEST CE OI.

AT PRESENT IF WE ANALYSE NIFTY THEN IT IS AT CRITICAL STAGE EITHER NIFTY CAN TAKE 'U' TURN FROM HERE OR IT MAY GO TILL 7700-7800 IN CURRENT SERIES. FOR THAT LETS TRY TO ANALYSE WEEKLY & DAILY CHARTS FIRST.

BELOW IS WEEKLY CHART WITH TRENDLINE WITH 21 EMA.

SO AS PER ABOVE 21 EMA RESISTANCE COMES AT 7600 AND THEN TRENDLINE RESISTANCE AT 7800 OR SO.

NOW LETS TRY TO SEE DAILY CHART.

SO AS PER ABOVE 89 EMA RESISTANCE COMES AT 7540-7550 AND THEN SHORT TERM TRENDLINE RESISTANCE AT 7620-7630 WHEREAS LONG TERM TRENDLINE (SAME TRENDLINE OF WEEKLY) RESISTANCE COMES AT 7800 ZONE. 

FURTHER TO ADD IF WE TRY TO CORRELATE CHANNEL PATTERN ON DAILY CHART THEN TARGET IS AS UNDER:-

SO AS PER ABOVE CHART TARGET COMES AT 7870...!!! BUT WE PREFER TO TAKE LEVERAGE OF 1% IN TARGET SO ROUGH ROUGH TARGET COMES AT 7800. 

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Huge liquidations were seen in 7400 CE and below that all ITM CE. But at the same time huge additions were also seen in 7700 & 7800 CE. PE front now we can see strong support at 7200 PE (Additions were seen in 7200 PE with mammoth liquidations in 7100 & 7000 PE) But surprisingly mammoth additions in 7500 PE were also seen. 

Highest OI tag is with 7200 PE & 7500 CE. 

Bank Nifty ~ Good additions were seen in 14000 & 14500 PE but OI in 15000 PE should not be ignored. Whereas 15500 & 16000 CE also says depicts scenario. 

Highest OI tag is with 14000 PE & 15500 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.27
PE RATIO FOR BANK NIFTY STANDS AT 16.86


MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 1.12
BANK NIFTY PCR ON BASIS OF OI IS 1.05

FINAL CONCLUSION

Nifty
Highest OI tag is with 7500 but comes days it may change to 7700 or 78000 and in that scenario we feel that resistances based on 21 EMA (weekly) and 89 EMA (daily) shall be crossed. But weekly trendline resistance at 7800 will play crucial role. Please note today this view/conclusion is valid for next 8-10 trading sessions.

Bank Nifty
Bank Nifty data suggests some upside moves with some volatility. 

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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