BEFORE CLOSE OF LAST TRADING SESSION WE HAD INFORMED THAT WE HAVE EXITED IN NIFTY 8200 PE AND LOOKING AT ASIAN MARKETS IT SEEMS THOUGH WE HAD BOKED LOSS BUT DECISION IN IT WAS NOT WRONG. PRIME REASON TO EXIT WAS 8200 PE WAS HAVING HIGHEST OI MARK AND HENCE IT MAKES NO SENSE TO HOLD IT.
COUPLE OF POSTS BEFORE WE HAD TRIED TO SHARE NIFTY CHART AND HAD TRIED TO EXPLAIN THAT NIFTY INDEED IN IS UPSIDE MOVE.ALSO FEW OF YOU HAD TRADED IN INDUSIND BANK VIEW AND IF WE CONSIDER HOLDING PERIOD IT WAS GOOD PROFIT MADE. AFTER MARKET OPENS TODAY WE SHALL TRY TO SHARE UPDATED NIFTY CHART AS SGX REFLECTS MASSIVE GAP UP AND IT MAKES NO SENSE TO STUDY OLD CHART.
NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Nifty
July Series
More and more additions can be seen in 8200 PE Front and liquidations can be seen in 8300 to 8500 PE which can clearly be considered traders are booking profit or may be trade taken was not in their favour. Mammoth additions can be seen in 8300-8400-8500 CE. Only surprise if liquidations in 8600 CE but that surprise is balanced by additions with minor additions in 8700 CE. In 2-3 trading sessions we can expect shift in OI to 8700 CE which can be sensed as more upside.
Highest OI tag is with 8200 PE & 8500 CE.
Bank Nifty
14th July 2016 Option chain (Weekly Expiry)
Even after additions in OTM PE strike prices below 18000 PE we can see that 18000 PE has not lost highest OI tag. Further to add that 18200 CE has good highest additions but as per charts 18500 CE needs to be given more importance.
Highest OI tag is with 18000 PE & 18300 CE
July Series
Mammoth additions can be seen in total from 17000 to 18000 PE but at the same time it must be understood that 19000 CE is also be considered as it as also got considerable OI and if within 4-5 sessions if this strike price get highest OI tag we shall not be surprised.
14th July 2016 Option chain (Weekly Expiry)
Even after additions in OTM PE strike prices below 18000 PE we can see that 18000 PE has not lost highest OI tag. Further to add that 18200 CE has good highest additions but as per charts 18500 CE needs to be given more importance.
Highest OI tag is with 18000 PE & 18300 CE
July Series
Mammoth additions can be seen in total from 17000 to 18000 PE but at the same time it must be understood that 19000 CE is also be considered as it as also got considerable OI and if within 4-5 sessions if this strike price get highest OI tag we shall not be surprised.
Highest OI tag is with 17000 PE & 18500 CE
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 25.92
JULY SERIES
NIFTY PCR ON BASIS OF OI IS 1.15
BANK NIFTY PCR ON BASIS OF OI IS 1.12
FINAL CONCLUSION
Nifty & Bank Nifty
Lets first see Nifty.
In our last post we had said clearly that if we get any fall then it will be temporary only. Infact in last trading session only nifty closed with gains over 35 points from low point of day.
Now Lets see Bank Nifty.
Bank Nifty closed with gains over 100 points from low of day.
Any way looking as indicative moves of SGX Nifty we feel it will not be any worth to give any view. Infact we feel we must wait for opening today to take any new trade.
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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