NIFTY & BANK NIFTY VIEW FOR 22/04/2016

FROM OUR LAST 2-3 POSTS WE HAVE BEEN TRYING TO SAY THAT WE STILL EXPECT SOME UPSIDE IN NIFTY & BANK NIFTY AND RESULT IS IN FRONT OF US..!!!

ANYWAY LET'S TRY TO STUDY NIFTY & BANK NIFTY CHARTS AGAIN.

IN ABOVE CHART WE CAN SEE THAT BOLLINGER BAND IS ADJUSTED AS DISCUSSED IN POST

NOW IF WE TALK ABOUT NIFTY THEN WE CAN SEE THAT BULLS ARE MANAGING TO KEEP ABOVE TRENDLINE (BELOW CHART)

NOW LETS SEE BANK NIFTY CHART

BULLS HAVE MANAGED TO GIVE MASSIVE GAP UP BUT TRENDLINE AND AS PER CONCLUSION IN LAST POST 16700-16800 ACTED AS HURDLE. 

ANYWAY LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

April Series 
Nifty ~ Huge liquidations can be seen in ITM CE with nearby OTM PE. Good additions can be seen in 7800 & 7950 PE with 8000, 8050 & 8200  CE. 

Highest OI tag is with 7800 PE & 8000 CE. 

Bank Nifty ~ Additions can be seen 16500 & 16000 PE. Liquidations in ITM CE with some shedding 17000 CE gives hint of some consolidated to bearish moves. 

Highest OI tag is with 16000 PE & 17000 CE. 

May Series 

Nifty ~ Along with April series some built-up can be seen in May series 8000 CE too. Infact additions were also seen 8200 & 8300 CE. 

Highest OI tag is with 7500 PE & 8300 CE. 

Bank Nifty ~ Surprisingly good OI is there  at 16600 CE. Infact this is seen very rarely that inbetween CE this much high OI (repeat comment) But wth today's rally some additions were also seen in 17000 & 17500 CE. 

Highest OI tag is with 16500 PE & 17500 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.59
PE RATIO FOR BANK NIFTY STANDS AT 18.17
(as on 20/04/2016)

APRIL SERIES
NIFTY PCR ON BASIS OF OI IS 1.22
BANK NIFTY PCR ON BASIS OF OI IS 1.18

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.89
BANK NIFTY PCR ON BASIS OF OI IS 0.78

FINAL CONCLUSION

Nifty & Bank Nifty
Additions in 8000 CE IN April Series gives hint of strong resistance but we feel that high OI at 8300 CE in May series shall play crucial role and we can see Bulls shall try to cross 8000 mark in April series.

If we talk about Bank Nifty then again 16700-16800 shall act as stiff resistance but again here also additions in 17000 & 17500 CE (May series) hints of more upside left after some consolidation to some downside moves. 

BUT WE ARE NO TRADE ZONE ATLEAST FOR NEXT TRADING SESSION. 

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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