NIFTY & BANK NIFTY VIEW FOR 11/04/2016

FIRST HALF WAS RANGE BOUND AND IT WAS ALMOST IMPOSSIBLE TO TRADE FOR INTRADAY IN NIFTY & BANK NIFTY AS EXPECTED BY US IN OUR LAST POST.

ALSO AT ABOUT 12.30 PM WE HAD POSTED NIFTY CHART ON OUR FACEBOOK PAGE & TWITTER IN WHICH WE HAD EXPECTED SOME MOVE AND THEREAFTER NIFTY REACTED AS EXPECTED...!!!

NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Nifty

As Nifty is inching towards 8000 (which has been acting as resistance for quite long time) ITM CE liquidation was seen. About 750k shares were added in today's session from 8000 to 8200 CE. Additions in 8100 CE are 375k which indicates some expectations of more upside. 

On PE front mammoth additions of more than 1000k shares can be seen in 7600 to 7700 PE alone which is quite surprising. 7800 to 8100 PE added about 1273k shares in OI.  

Highest OI tag is with 7700 PE & 8000 CE. (same) 

Bank Nifty 
Liquidation of about 64k shares can be seen on CE from 16500 to 17000. Almost 80k shares were added in 17400 CE. But still overall on CE front about  34k shares were added today.

If we talk on PE front then about 250k shares were added in today's session. From 16000 to 17500 PE about 289k shares were added but major additions can be seen in 16000 to 16200 PE (195k shares)  

Highest OI tag is with 16000 PE & 17000 CE. But 17500 CE is short of just 35760 shares to regain highest OI tag on CE front. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.24
PE RATIO FOR BANK NIFTY STANDS AT 18. 31
(Both ratio are as on 09/05/2016) 

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.90
BANK NIFTY PCR ON BASIS OF OI IS 0.99

FINAL CONCLUSION

Nifty & Bank Nifty
Mammoth additions in 7600 PE is quite surprising. Additions in 8000 to 8200 indicates some bounce till 8030-8060 level in coming days. 

Nifty Future Resistance at 7935, 7989 & 8057
Nifty Future Support 7879, 7811 & 7770-7765 (zone)

Additions in strike price  above highest CE indicates possibility of change in highest OI from 17000 to 175000. 

Bank Nifty Future Resistance at 17055, 17243 & 17475
Bank Nifty Future Support 16700, 16610 & 16462

IN END WE WOULD LKE TO SAY ONLY ONE THING FOR NEXT 3 SESSIONS THAT IF YOU ARE RISK AVERSE TRADER AND CARRY FORWARDING ANY POSITION THEN TRY TO HEDGE YOUR POSITION. 

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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