TIMELY CAUTION GIVEN WORKED...!!!
NOT ONLY THAT IN OUR LAST POST WE HAD SAID CLEARLY THAT ONCE NIFTY FUTURE CLOSES ABOVE 7940 AND WITH ADDITIONS 8000 & ABOVE CE THEN ONLY MORE UPSIDE CAN EXPECTED...!!!
Bank Nifty
On CE Front about 71k shares were added also interesting thing is from 16500 to 17500 CE about 100k shares were added.
On PE front good additions can be seen. From 16000 to 17000 PE more than 100k shares were added.
Highest OI tag is with 16000 PE & 17000 CE.
PE RATIO FOR NIFTY STANDS AT 21.62NOT ONLY THAT IN OUR LAST POST WE HAD SAID CLEARLY THAT ONCE NIFTY FUTURE CLOSES ABOVE 7940 AND WITH ADDITIONS 8000 & ABOVE CE THEN ONLY MORE UPSIDE CAN EXPECTED...!!!
NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Nifty
May Series
Additions in 7800 to 8000 PE gives hint that for next 2-3 sessions market may show sudden moves on downside like it did today. More than 2400k shares were added today on PE front.
On CE front about 1130k shares were liquidated. Except 7950 CE all CE from 7500-8000 undergone liquidation today.
Highest OI tag is with 7800 PE & 8000 CE.
Bank Nifty
On CE Front about 71k shares were added also interesting thing is from 16500 to 17500 CE about 100k shares were added.
On PE front good additions can be seen. From 16000 to 17000 PE more than 100k shares were added.
Highest OI tag is with 16000 PE & 17000 CE.
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 19.17
(Bank Nifty ratio as on 16/05/2016)
MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.94
BANK NIFTY PCR ON BASIS OF OI IS 0.90
FINAL CONCLUSION
Nifty & Bank Nifty
Contrasting changes can be seen in Nifty & Bank Nifty. Moreover today's candle is also reversal kind of candle on daily charts.
Nifty Future Resistance at 7945-8000
Nifty Future Support 7900-7845-7820-7792
Bank Nifty Future Resistance at 16830-16970
Bank Nifty Support at 16710-16640-16550
WE ARE IN NO TRADE ZONE FOR NIFTY & BANK NIFTY FOR REMAINING SESSION OF THE WEEK.
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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
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