NIFTY & BANK NIFTY VIEW FOR 13/04/2016

CHANGE WHICH WE WERE EXPECTING IN BANK NIFTY OPTION CHAIN TOOK PLACE TODAY...!!!

WILL THE NEXT CHANGE BE IN NIFTY..???

AT PRESENT WE SEE NIFTY FUTURE CHART AS UNDER:-

2 different patterns can be seen in this chart . 1st is Symmetrical Triangle and 2nd is Channel Pattern. Looking at today's close we feel both pattern have given breakout on upside but still we would like to take caution at present stage and shall wait for one more session.

NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Nifty

From 5450 to 7850 CE all CE undergone liquidation today (Total of about 370k shares) Whereas from 7900 to 9500 CE net additions of more than 340k shares can be seen.  8100 & 8200 CE together added about 450k shares in today's session. 

Mammoth additions can be seen in 7900 PE (More than 1040k shares) From 7700 to 8000 PE more than 2625k shares were added in today's session. 

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

Bank Nifty 
More than 90k shares were liquidated today from 16000 to 17000 CE.  Where OTM strike prices from 17100 to 17500 CE witnessed net additions of more than 70k shares. 

On PE from about 235k shares were in different strike prices from 16000 to 17000. 

But as expected highest OI tag shifted to 17500 from 17000 which we were hinting from last couple of posts. 

Also when Bank Nifty was hovering near to 16950 we had given hint for it on our Twitter ID after which Bulls managed to lift about 65 points to make new intraday high. 

Highest OI tag is with 16000 PE & 17500 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.19
PE RATIO FOR BANK NIFTY STANDS AT 18. 38
(Both ratio are as on 11/05/2016) 

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.96
BANK NIFTY PCR ON BASIS OF OI IS 1.05

FINAL CONCLUSION

Nifty & Bank Nifty
Looking at additions from in 8100 & 8200 CE we feel that highest OI tag on CE front shall change very soon. Mammoth additions in 7900 PE indicates some volatile or downside sudden moves but we feel that could be buying opportunity.   

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

Shift in Highest OI with additions in nearby OTM CE strike hints of more upside. 

Bank Nifty Future Resistance at 17055, 17243 & 17475
Bank Nifty Support at 16868 & 16636

IN END WE WOULD LIKE 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.

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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