PREVIOUS TRADING SESSION 2nd HALF CE ADDITIONS THEN TODAY 1st HALF SOME LIQUIDATIONS IN CE WITH MAMMOTH ADDITIONS ON PE FRONT AND THEN AGAIN 2nd HALF NIFTY DOWN AND LIQUIDATIONS IN PE...!!!
WELL WE HAD TRIED TO GIVE ALERT ON TWITTER AND THEREAFTER BULLS MANAGED LIFT NIFTY MORE THAN 40 POINTS FROM PREVIOUS CLOSE BUT THEN SUDDENLY BEARS CAME IN DRIVER SEAT AND AT THE END MANAGED TO CLOSE IN MINOR RED MARK..!!!
PLEASE NOTE OUR BLOG POSTS ARE AS PER EOD DATA AND UPDATE ON TWITTER AND/OR FACEBOOK ARE ON LIVE BASIS DURING MARKET HOURS.
NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Nifty
May Series
About 1885k shares were liquidated from 7900 to 8000 CE but mammoth additions of 2440k in 7700 to 7850 CE resulted into net additions of 424k CE shares from 7500 to 8000. Also mammoth liquidations in different strike prices from 8000 to 8500 was also seen which over all resulted in shedding of 2034k shares.
From 7500 to 8000 PE minor liquidation of 324k shares can be seen. Liquidation in 7500-7600 PE indicates very thin chances of Nifty closing around 7600 level. Mammoth additions in 7650 & 7750 PE indicates strong based in this zone for next upmove. Liquidation of 746k shares in 7800-8000 PE also confirms this.
Highest OI tag is with 7700 PE & 8000 CE.
June Series
About 1300 shares were added today n different strike prices from 7500 to 8000 CE. On PE front 1061k shares were added today in different strike prices from 7500-8000 PE.
Highest OI tag is with 7500 PE & 8000 CE.
Bank Nifty
Highest OI tag is with 16000 PE & 17000 CE.
May Series
About 490k shares were added in different strike prices from 16000 to 17000 CE Except 16000 & 16800 CE. Mammoth additions about 300k shares in 16500 to 16700 CE is good sign for bulls.
From 16500 to 17000 PE about 33k shares were liquidated today. Whereas 16000 to 16500 PE total 79k shares were added today.
June Series
About 80k shares were added on CE front in different strike prices from 16000-17000 CE.
More than 48k shares were added in different strikes from 16000-17000 PE.
Highest OI tag is with 15500 PE & 17000 CE
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 18.88
(As on 20/05/2016)
MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.76
BANK NIFTY PCR ON BASIS OF OI IS 0.69
JUNE SERIES
NIFTY PCR ON BASIS OF OI IS 1.07
BANK NIFTY PCR ON BASIS OF OI IS 1.33
FINAL CONCLUSION
Nifty & Bank Nifty
Looking at changes in both side of option chain of May series we feel that some bounce cannot be ruled out in next trading session. Now again question arises whether that bounce will sustain or not will be purely on the basis of changes in options chain.
Nifty Future Resistance at 7760-7800-7830-7860
Nifty Future Support 7720-7690
Bank Nifty options chain also says same story.
Bank Nifty Future Resistance at 16450-16580-16670-16735-16800
Bank Nifty Support at 16375-16320-16260
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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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