BEING ON NO TRADE ZONE WAS GOOD DECISION AS DISCUSSED BY US IN LAST POST.
ALSO TO EVERYONE'S SURPRISE DURING THURSDAY'S SESSION HIGHEST OI WAS SHIFTED TO 8100 FROM 8000 DUE LIQUIDATION IN 8000 & 8200 CE. BUT DURING LAST TRADING SESSION 8000 CE REGAINED IT.
NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Bank Nifty
Mammoth additions in 17000 CE added almost 70k shares during last trading session which indicates strong resistance.
Liquidations were minor on PE front.
Highest OI tag is with 16000 PE & 17500 CE. (same)
PE RATIO FOR NIFTY STANDS AT 20.91ALSO TO EVERYONE'S SURPRISE DURING THURSDAY'S SESSION HIGHEST OI WAS SHIFTED TO 8100 FROM 8000 DUE LIQUIDATION IN 8000 & 8200 CE. BUT DURING LAST TRADING SESSION 8000 CE REGAINED IT.
NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Nifty
Mammoth additions 8000 CE indicates strong resistance, further to add that from December 2015 Nifty future is not able to cross 8000 convincingly.
On PE front from 7500 to 7700 PE added almost 600k shares during last session. Mammoth liquidation in 7400 PE indicates very low chances of Nifty Futures slipping below 7400.
On CE front from 7700 to 8000 CE about 3000k shares were added during last trading session.
Highest OI tag is with 7700 PE & 8000 CE.
Bank Nifty
Mammoth additions in 17000 CE added almost 70k shares during last trading session which indicates strong resistance.
Liquidations were minor on PE front.
Highest OI tag is with 16000 PE & 17500 CE. (same)
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 17.88
MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.73
BANK NIFTY PCR ON BASIS OF OI IS 0.76
FINAL CONCLUSION
Nifty & Bank Nifty
Additions in nearby ATM & ITM CE hints some upside in next 1-2 sessions till 7810-7825 (Nifty Future) above that we can see it till 7850. Downside is limited till 7700-7710.
Last 3 sessions Bank Nifty Future is closing in zone of 16350-16400, Whereas strong support can be seen 16250-16300 zone. So we feel somehow if bulls able to manage Bank Nifty Future above that zone and able to clear 16450-16500 zone then we can expect flashes upto 16600 too.
Overall if we see options data and correlate with charts we feel that Bulls have upper hand.
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ABOUT AUTHOR ~ MANUSH VADHER
Sir if possible please post charts, i read your blog every morning before trading, like your OI analysis.
ReplyDeleteS@ndY sir we do post chart whenever it is required still shall try to share as much as possible. Thank you.
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