NIFTY & BANK NIFTY VIEW FOR 16/04/2016

MAMMOTH ADDITIONS IN 7900 PE SEEN IN THURSDAY'S SESSION SHOWED ITS DURING FRIDAY'S SESSION...!!!

YES THAT WAS THE REASON THAT WE HAD GIVEN CAUTION IN OUR LAST POST THAT WE STILL NEED ONE MORE SESSION FOR CONFIRMATION OF BREAKOUT. FURTHER TO ADD DURING PAST WEEK WE HAD REQUEST/SUGGESTED TO KEEP TRADERS THEIR POSITIONS HEDGED IN CASE OF POSITIONAL TRADE. THAT WAS RESPECTED COMPLETELY BY NIFTY & BANK NIFTY.

ANYWAY LETS MOVE FORWARD AND CHECK NIFTY FUTURE CHART.

NAME OF PATTERN:- CHANNEL PATTERN

As per above pattern we can expect Nifty to take support below 7700 and probably at 7650-7680 zone. (levels valid for max to max 3 sessions) 

NAME OF PATTERN:- SYMMETRICAL PATTERN

As per this pattern we can see that Nifty may take support at 7750-7760 levels. 

NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Nifty

Liquidation of more than 950k shares can be seen against additions of 1040k shares made during Thursday session in 7900 PE. Moreover to another surprise 7700 PE also undergone liquidation during last trading session. Liquidation of more than 2700k shares can be seen in different strike prices from 7500 to 8000 PE. 

About 3700k shares were added during last trading session in different strike prices from 7800 to 8000. 

Highest OI tag is with 7800 PE & 8000 CE.

Bank Nifty 
Mammoth liquidation can be seen in 16500 PE (119k shares) whereas good additions can be seen in 17000 CE which can be considered as some pull back expectation which also resulted into change in highest OI tag. 

Highest OI tag is with 16000 PE & 17000 CE. 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.10
PE RATIO FOR BANK NIFTY STANDS AT 18. 34

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.82
BANK NIFTY PCR ON BASIS OF OI IS 0.90

FINAL CONCLUSION

Nifty & Bank Nifty
As per symmetrical triangle pattern support comes at 7750-7760 zone which is also some what confirmed by options chain data. Crucial support taken at 7787 during last trading session may play crucial role ahead. We can expect some pull back rally very soon.

Nifty Future Resistance at 7850-7885-7945
Nifty Future Support 7820-7785-7750

Good additions in 17000 indicates that may still act as resistance But again bounce till 16850-16870 zone in coming week. 

Bank Nifty Future Resistance at 16830-16970
Bank Nifty Support at 16710-16640-16550

-----------------------------------------------------------

TECHNICAL ANALYSIS TRAINING

WE ALSO CONDUCT TECHNICAL ANALYSIS WORKSHOP VIA ONLINE AS WELL AS ONE ON ONE ON PERSONAL BASIS. FOR DETAILS CONTACT US ON 08866145155 (PHONE CALL ONLY)

-------------------------------------------------------------

OUR FACEBOOK PAGE

https://www.facebook.com/nifty50striker/

-------------------------------------------------------------

OUR TWITTER HANDLE

https://www.twitter.com/nifty50striker/

-------------------------------------------------------------

STANDARD DISLCOSURE:-

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