NIFTY & BANK NIFTY VIEW FOR 25/05/20164

TOUGH FIGHT BETWEEN BULLS & BEARS BUT IN THE END BULLS MANAGED TO HAVE THE UPPER HAND MARGINALLY...!!!

NOW BEFORE WE MOVE AHEAD LETS TRY TO CHECK NIFTY FUTURE DAILY CHART...!!!

As we can see that today's low is almost near to the rising trendline. Also as per options data we have strong support at 7700 level.

NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Nifty

May Series

More than 1450k shares were liquidated from 7500 to 8000 CE. Except 7650 CE all CE undergone liquidation during today's session.  On PE front more than 900k shares were added during session but majority additions are done in 7550 to 7750 PE which is about  1837k shares. 

Highest OI tag is with 7700 PE & 8000 CE.

June Series

More than 890k shares were added during today's session in different strike prices from 7500-8000. Majority of additions can be seen in 7700 to 8000 CE. 

On PE front more than 617k shares were added during today's session out of which about 265k shares were added in 7500 & 7600 alone. 

Highest OI tag is with 7500 PE & 8000 CE.

Bank Nifty 

May Series

About 93k shares were added in different strike prices from 16000 to 17000 CE but major additions can be seen 16400 CE which is more than 100k shares. 

More than 319k shares were added during today's session in different strike prices from 16000-17000 but about 250k shares were added in 16300-16400 PE together. 

Highest OI tag is with 16000 PE & 17000 CE.

June Series

Minor additions of 35k shares can be seen in different strike prices from 16000 to 17000 CE. 

PE front too just little above 28.5k shares were added during today's session. 

Highest OI tag is with 15500 PE & 17000 CE 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 21.16
PE RATIO FOR BANK NIFTY STANDS AT 18.74
(As on 23/05/2016)

MAY SERIES
NIFTY PCR ON BASIS OF OI IS 0.83
BANK NIFTY PCR ON BASIS OF OI IS 0.76

JUNE SERIES
NIFTY PCR ON BASIS OF OI IS 1.02
BANK NIFTY PCR ON BASIS OF OI IS 1.30

FINAL CONCLUSION

Nifty & Bank Nifty
Today at about 1.40 pm when Nifty Future was trading at 7760 more than 2175k shares were added in 7700 PE then we had seen drop in Nifty Future till 7737 but surprisingly at end of the day about 586k shares were added in OI. 

Volumes were lower in Nifty Future also Bulls failed to make Bullish Reversal pattern known as Piercing pattern. 

Changes in today's options chain reflects consolidation based mix based moves. 

Nifty Future Resistance at 7800-7830-7860
Nifty Future Support 7720-7690


Bank Nifty options chain also says same story. 

Bank Nifty Future Resistance at 16580-16670-16735-16800
Bank Nifty Support at 16450-16375-16320-16260

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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