NIFTY & BANK NIFTY VIEW FOR 16/03/2016

NIFTY IN RED BUT BANK NIFTY IN GREEN...!!!

ONCE AGAIN TODAY'S MOVE WAS AS PER OUR VIEW THAT WE HAD SHARED IN OUR LAST BLOG POST.

QUICK LINK TO THAT POST IS AS UNDER:-

http://nifty50view.blogspot.in/2016/03/nifty-bank-nifty-view-for-15032016.html

NOW LETS TRY TO SEE DAILY CHART (IT IS WITH SAME STUDIES)

SO AS PER ABOVE 89 EMA RESISTANCE ZONE COMES AT 7545-7550 AND THEN SHORT TERM TRENDLINE RESISTANCE AT 7565-7570. AFTER TO THAT IF WE CONSIDER 7700 CE (ASSUMING THAT IT MAY TAKE HIGHEST OI TAG) WITH 144 EMA RESISTANCE LEVEL AT 7705-7710. LASTLY MEDIUM TERM TRENDLINE AND 233 EMA RESISTANCE ZONE COMES AT 7810-7820 LEVEL. 

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Huge unwinding can be seen  in 7200 PE. Also mammoth additions can  be seen 7500, 7600 & 7700 in today's session in 7500, 7700 & 7800 CE so that again gives hint for upside if immediate previous high of 7584 is cleared. 

Highest OI tag is with 7200 PE & 7500 CE. 

Bank Nifty ~ Good additions can  be seen in 14500, 15000 & 15500 PE but additions in Bank Nifty 16000 CE should not be ignored. 

Highest OI tag is with 14000 PE & 16000 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.14
PE RATIO FOR BANK NIFTY STANDS AT 16.98
(As per 14/03/2016)

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 1.10
BANK NIFTY PCR ON BASIS OF OI IS 1.07

FINAL CONCLUSION

Nifty
Huge additions in 7500 CE gives hint for strong resistance at 7500 levels but after to that previous high of 7583 shall also play crucial role. But we feel if on closing basis this is cleared then Bulls may be able to conquer 7650+ levels also. 

Bank Nifty
Bank Nifty data suggests some upside moves with some volatility. (Repeat comment)

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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.

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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