NIFTY & BANK NIFTY VIEW FOR 06/04/2016

AGAIN TUESDAY SHOWED ITS EFFECT AND BEARS MANAGED TO PROVE THEIR DOMINANCE...!!!

BEFORE WE MOVE AHEAD LETS SEE DAILY CHART.

AS WE CAN SEE THAT ABOVE IS MEDIUM TERM CHART AND BULLS WERE NOT ABLE TO CROSS TRENDLINE CONVINCINGLY AND REST WHAT HAPPENED AFTER RBI POLICY IS HISTORY...!!!

TODAY'S LOW AND 21 EMA ARE ALMOST THE SAME SO NOW NEXT 1-2 SESSIONS SHALL PLAY CRUCIAL ROLE.

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

April Series 
Nifty ~ Almost all ITM PE undergone liquidation. Good additions were seen in 7300 to 7600 PE. Now if we see additions in 7700 to 8000 CE are also in good quantum. 

Highest OI tag is with 7500 PE & 8000 CE. 

Bank Nifty ~ Huge additions were seen in 16500 & 17000 CE with 15000 & 15500 PE. (repeat comment)

Highest OI tag is with 15000 PE & 17000 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 20.88
PE RATIO FOR BANK NIFTY STANDS AT 17.99
(as on 04/04/2016)

APRIL SERIES
NIFTY PCR ON BASIS OF OI IS 0.84
BANK NIFTY PCR ON BASIS OF OI IS 0.96

FINAL CONCLUSION

Nifty & Bank Nifty
It was obvious that due to good downside came in today's session and traders managed book profit in Nifty ITM PE but Bank Nifty liquidations are below expectation also there is a huge difference between highest OI (quantity base) in Nifty & Bank Nifty so that gives hint of some more downside. Also many stocks have closed below their highest OI (PE Front). 

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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.

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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