NIFTY & BANK NIFTY VIEW FOR 18/04/2016

AGAIN BULLS SHOWED THEIR POWER AND WE HAD RALLY OF POWER AND WE HAD RALLY OF MORE THAN 140 POINTS IN NIFTY...!!!

WE HAVE ALREADY POSTED NIFTY & BANK NIFTY CHARTS ON OUR FB PAGE BUT WE ARE RE-POSTING SAME FOR EASY UNDERSTANDING. 

NIFTY CHART

As we can see that long term trendline for Nifty acted as resistance in last trading session but we feel some upside flashes even beyond this trendline but positive weekly close above this trendline can change whole momentum but we feel that needs to be correlated with Bank Nifty move. 

BANK NIFTY CHART

Bank Nifty trendline resistance comes at about 16700-16800 zone. So we feel positive weekly close above that trendline can only be confirmed as trend change. 

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

April Series 
Nifty ~ Mammoth liquidations were seen in 7700 CE infact more than 3300k shares were liquidated in  on CE front. Whereas if we talk about PE front about 5300k shares were added.  Huge additions were made in 8100 CE whereas on PE front 7800 & 7900 PE more than 3 times shares were added (comparison to 8100 CE) 

Highest OI tag is with 7000 PE & 8000 CE. 

Bank Nifty ~ Liquidations were seen in 16500 & 17000 CE. Huge additions were seen in 16000 PE. 

Highest OI tag is with 15500 PE & 17000 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.156
PE RATIO FOR BANK NIFTY STANDS AT 18.09

APRIL SERIES
NIFTY PCR ON BASIS OF OI IS 1.10
BANK NIFTY PCR ON BASIS OF OI IS 0.96

FINAL CONCLUSION

Nifty & Bank Nifty
First time in this series we have seen that PCR (OI basis) is above 1 which indicates overbought situation. Further spot Nifty has taken resistance at trendline so we feel that we can see some correction in coming week. 

Bank Nifty has not touched upside trendline but profit booking in higher strike price CE was also seen so we feel that downside move also cannot be ruled out. 

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TECHNICAL ANALYSIS TRAINING

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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 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