NIFTY & BANK NIFTY VIEW FOR 17/03/2016

BEARS ATTACKED BUT GOOD COME BACK BY BULLS AND AT THE END 7500 PROVING ITS WORTH...!!!

IN OUR LAST POST WE HAD SAID CLEARLY THAT 7500 IS TOUGH TO CLEAR ON CLOSING BASIS AND IT IS HAS BEEN RESPECTED...!!!

QUICK LINK TO THAT POST IS AS UNDER:-

http://nifty50view.blogspot.in/2016/03/nifty-bank-nifty-view-for-16032016.html



NOT ONLY THAT TODAY BANK NIFTY ALSO MANAGED TO CLOSE AT ITS HIGHEST POINT AFTER 8 DAYS OF CONSOLIDATION...!!!

LETS HAVE LOOK AT BANK NIFTY DAILY CHART.

LOOKING AT CHART AND OPTION CHAIN WE SAY THAT AT FIRST 15700-15800 WILL BE HURDLE FOR BANK NIFTY TO WATCH OUT THEN ONLY WE CAN THINK ABOUT HIGHER TARGET. (VIEW ON BASIS OF 100 EMA AND TRENDLINE)

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

March Series 
Nifty ~ Huge additions can  be seen in 7600 & 7700 infact if we take leverage of 5% then we can say that 7700 CE has taken away highest OI tag from 7500 CE. On PE front still strong base can be seen at 7000 & 7200 PE but mammoth additions were seen 7400 PE. 

Highest OI tag is with 7200 PE & 7500 CE. 

Bank Nifty ~ Strong base can be seen at 14500 PE but OI in 15500 CE may created some hurdle for Bulls but then 16000 CE also gives hint of some upside. 

Highest OI tag is with 14500 PE & 16000 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.24
PE RATIO FOR BANK NIFTY STANDS AT 17.03
(As per 15/03/2016)

MARCH SERIES
NIFTY PCR ON BASIS OF OI IS 1.13
BANK NIFTY PCR ON BASIS OF OI IS 1.08

FINAL CONCLUSION

Nifty
Liquidation in 7500 CE with addition in 7600 & 7700 CE gives hint of more upside in coming days but additions in 7500 PE may also ruin Bull party. Further to add additions in 7400 PE can  be considered as strong base at 7400 now.

Bank Nifty
Bank Nifty data suggests some upside moves with some volatility. (Repeat comment) but huge OI at 15500 CE may create some hurdle but still we feel that Bulls may conquer 15700-15800 mark in coming sessions easily. 

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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