NIFTY & BANK NIFTY VIEW FOR 06/04/2016

FLASHES NEAR TO HIGHEST OI THEN REVERSAL...!!!

IN OUR LAST POST WE HAD HINTED THAT SOME BOUNCE BACK CANNOT BE RULED OUT.

NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Nifty

ITM PE liquidation is in continuation to previous sessions. 7800 to 8400 PE together undergone liquidation of more than 300k n today's session. But surprisingly more than 800k shares were added in 7500 to 7700 PE. 8000 & 8200 CE together undergone liquidation of about 300k which resulted into change in highest OI tag from 8000 to 8100 which we feel is temporary. 7800 & 7900 CE together added about 900k shares in OI. 

Highest OI tag is with 7700 PE & 8100 CE. 

Bank Nifty 
15000 & 1500 PE together added more than 60k shares in OI whereas on CE front 16600 to 17000 together added more than 100k 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 20.96
PE RATIO FOR BANK NIFTY STANDS AT 17.91
(as on 04/05/2016)

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.79
BANK NIFTY PCR ON BASIS OF OI IS 0.78

FINAL CONCLUSION

Nifty & Bank Nifty
Mammoth addition in nearby ATM & ITM PE hints more pain by Bears as today from higher levels Nifty slipped. Though 8000 CE lost highest OI tag to 8100 CE but we feel it may continue to act as resistance. 

Now if we talk about Bank Nifty additions in 15500 PE hints shifting of highest OI tag which shall make Bear more powerful. Addition in 16600 to 17000 CE hints some more upside if 16500 is crossed. 

OVERALL WE ARE IN NO TRADE ZONE FOR NIFTY & BANK NIFTY .

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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