NIFTY & BANK NIFTY VIEW FOR 04/04/2016

BULLS AND BEARS GAVE THEIR BEST TODAY...!!!

OVERALL TODAY WE HAD RANGE OF MORE THAN 150 & 350 PLUS POINTS IN NIFTY & BANK NIFTY RESPECTIVELY...!!!

TODAY'S UPMOVE AND THEN SUDDEN DOWNSIDE WAS BIT SURPRISING BUT IN OUR LAST POST WE HAD TRIED TO GIVE CAUTION.

NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Nifty

Far OTM PE 7000 & 7200 PE together added more than 375k shares OI against with some liquidation was also seen in 7300 & 7400 PE. Good quantum of liquidation was seen in 7800 & 7900 PE (more than 700k shares) whereas 7600 & 7700 PE together added more than 800k shares in OI. On CE front right from 7800 to 8200 (not considered XX50 strike PE) added more than 3100k shares in OI. 

Highest OI tag is with 7700 PE & 8200 CE. (same) 

Bank Nifty 
15500 & 16000 PE together added more than 265k shares in OI. 16500, 17000 & 17500 CE together added more 140k shares in OI. 

Highest OI tag is with 16000 PE & 17500 CE. (same) 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.08
PE RATIO FOR BANK NIFTY STANDS AT 18.08
(as on 02/05/2016)

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.84
BANK NIFTY PCR ON BASIS OF OI IS 0.89

FINAL CONCLUSION

Nifty & Bank Nifty
Mammoth additions in 7600 & 7700 PE hints of strong base formation at those levels. Whereas if we talk about CE front additions then strong pull back cannot be ruled out in remaining sessions of this week. 

Bank Nifty options chain we can see that still additions are taking place at 16000 PE with additions in 16500 to 18000 CE we feel that come back of Bulls cannot be ruled out. Mammoth additions in 16000 PE indicates strong base/support.

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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