NIFTY & BANK NIFTY VIEW FOR 04/04/2016

BEFORE WE DO ANYTHING LETS TRY TO SEE NIFTY & BANK NIFTY DAILY CHARTS ON MEDIUM TERM PERSPECTIVE.

ABOVE IS NIFTY CHART FROM LAST MARCH TO TILL DATE WE CAN SEE AS PER TRENDLINE WE CAN SEE RESISTANCE AT NEAR TO 7900. AFTER TO THAT CONNECTING PREVIOUS HIGHS WE CAN SEE RESISTANCE AT 8000 LEVELS TOO.

NOW LETS TRY TO SEE BANK NIFTY CHART

HERE WE CAN SEE BANK NIFTY MAY FACE RESISTANCE AT 16800-16900 ZONE.

WE ALSO HAVE EVENT ON TUESDAY AND IT IS WELL KNOW FACT THAT MARKET RUNS ON EXPECTATION SO IF WE SEE SUDDEN JUMP IN NIFTY BANK & NIFTY THEN WE MAY NOT BE SURPRISED. SUSTAINING ABOVE THOSE LEVELS FOR FEW SESSIONS CAN GIVE MORE CONFIDENCE FOR UPSIDE. BUT AGAIN CORPORATE EARNING SEASON SHALL START AND WE CAN SEE STOCK SPECIFIC MOVEMENTS.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

April Series 
Nifty ~ Good additions were seen in last trading session on both side of options chain. More than 1300k shares were added in 7500 PE & 8000 CE which indirectly may act as support & resistance for couple of session. 

Highest OI tag is with 7500 PE & 8000 CE. 

Bank Nifty ~ Huge additions were seen in 16500 & 17000 CE. Far OTM 15000 PE witnessed addition of 90k shares in single session is some odd to see.

Highest OI tag is with 15000 PE & 17000 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.19
PE RATIO FOR BANK NIFTY STANDS AT 17.98

APRIL SERIES
NIFTY PCR ON BASIS OF OI IS 0.96
BANK NIFTY PCR ON BASIS OF OI IS 0.83

FINAL CONCLUSION

Nifty & Bank Nifty
Due to start of series both side volatility was seen which was used very well by traders to built positions. Nothing big is expected in next trading session but yes we are positively biased for RBI event. 

--------------------------------------------------------------------------------

TECHNICAL ANALYSIS TRAINING

WE ALSO CONDUCT TECHNICAL ANALYSIS WORKSHOP VIA ONLINE AS WELL AS ONE ON ONE ON PERSONAL BASIS. FOR DETAILS CONTACT US ON 08866145155 (PHONE CALL ONLY)

-------------------------------------------------------------

OUR FACEBOOK PAGE

https://www.facebook.com/nifty50striker/

-------------------------------------------------------------

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

https://www.telegram.me/nifty50view

-------------------------------------------------------------

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 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