OUR VIEW DO NOT JUMP INTO TRADE IN INITIAL TRADES YESTERDAY WAS REWARDED GOOD AS 1st HALF MARKET REMAINED CHOPPY AND WAS MOVING IN TIGHT RANGE...!!!
NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Nifty
July Series
CE Front no much additions were seen. 8400 & 8600 CE together added more than 350k shares in OI but on PE front 8200-8300 PE added more than 550k shares in OI.
Highest OI tag is with 8200 PE & 8500 CE.
Bank Nifty
14th July 2016 Option chain (Weekly Expiry)
Sudden spurt in volumes part can be seen in 18300 CE which has resulted in highest OI too. Spike in 18000 PE OI is also seen.
Highest OI tag is with 18000 PE & 18300 CE
July Series
Below 18000 PE very less additions can be seen infact looking at 18000 PE additions and co-relating it with weekly expiry it seems that though we may see spot Bank Nifty flashes below 18000 but closing basis it will be tough for Bears to have close below that. OI basis no big difference between 18500 & 19000 CE so if highest OI tag gets shifted to 19000 we won't be surprised.
14th July 2016 Option chain (Weekly Expiry)
Sudden spurt in volumes part can be seen in 18300 CE which has resulted in highest OI too. Spike in 18000 PE OI is also seen.
Highest OI tag is with 18000 PE & 18300 CE
July Series
Below 18000 PE very less additions can be seen infact looking at 18000 PE additions and co-relating it with weekly expiry it seems that though we may see spot Bank Nifty flashes below 18000 but closing basis it will be tough for Bears to have close below that. OI basis no big difference between 18500 & 19000 CE so if highest OI tag gets shifted to 19000 we won't be surprised.
Highest OI tag is with 17500 PE & 18500 CE
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 26.02
JULY SERIES
NIFTY PCR ON BASIS OF OI IS 1.13
BANK NIFTY PCR ON BASIS OF OI IS 1.21
FINAL CONCLUSION
Nifty & Bank Nifty
Lets first see Nifty.
Looking at additions in 8400 & 8600 CE we feel that Bulls are in strong position at present than Bears. Infact additions mammoth additions in 8200-8300 indicates sudden flashes below 8300 til 8220-8230 (if any) but bears may not be able to sustain below that.
Now Lets see Bank Nifty.
As discussed in Options chain analysis below 18000 Spot Bank Nifty may be just flashes and more downside should not be expected.
Open position is in 8200 PE bought around 100-105 level. Exit on this shall be informed on whatsapp. We are holding this from last 4-5 sessions and we may exit in it by today EOD if it does not move in our favour.
2-3 people have asked/shared their trading strategy on IndusInd Bank Basis on our chart and OI data which we had shared with you during last trading session. We had tried to give due logic behind that as per our view.
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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.
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
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