NIFTY & BANK NIFTY VIEW FOR 20/04/2016

DURING LAST SESSION WE HAD SEEN CONTRASTING MOVE BETWEEN NIFTY & BANK NIFTY...!!!

NIFTY IS FACING RESISTANCE AT HIGHER LEVELS BUT SOME HOW BULLS ARE MANAGING TO LIFT NIFTY TO HIGHER  LEVELS. 

BUT AT PRESENT LAST CLOSE FOR NIFTY IS OUTSIDE BOLLINGER BAND WHICH IS QUITE UNUSUAL MOVE THAT WE SEE. WE HAVE TRIED TO HIGHLIGHT THIS TYPE OF MOVE IN BELOW CHART.

ANYWAY IF WE TALK ABOUT OPTIONS CHAIN THEN WE HAVE STRONG RESISTANCE AT 8000 MARK..!!!

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

April Series 
Nifty ~ ITM CE options are witnessing regular liquidation and now we can see that we are having huge built-up at 8000 CE. Whereas strong base can be seen at 7800 & 7500 PE. 

Highest OI tag is with 7800 PE & 8000 CE. 

Bank Nifty ~ Good additions can be seen 16500 & 17000 CE. 

Highest OI tag is with 15500 PE & 17000 CE. 

May Series 
Nifty ~ If we talk about next series then good additions were seen in 8000 CE with 7600 & 7300 PE. 

Highest OI tag is with 7500 PE & 8000 CE. 

Bank Nifty ~ Surprisingly good OI is there  at 16600 CE with no trades in last trading session but nothing much can be seen in other than this.

Highest OI tag is with 16000 PE & 17000 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.68
PE RATIO FOR BANK NIFTY STANDS AT 18.03

APRIL SERIES
NIFTY PCR ON BASIS OF OI IS 1.23
BANK NIFTY PCR ON BASIS OF OI IS 0.94

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 1.06
BANK NIFTY PCR ON BASIS OF OI IS 0.67

FINAL CONCLUSION

Nifty & Bank Nifty
Nifty PCR is inching towards overbought zone. But somehow Bulls are managing to lift it up day by day. Now if we see Bollinger Band then some expansion can be be expected in this and that may bring inside Bollinger Band (yes, we are expecting 1st scenario in chart) but as we have high OI at 8000 but some how we feel that some flashes still above 8000 cannot be ruled out. 

Bank Nifty recovered sharply from lower levels which further confirms some upside steam left in it. 

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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.

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