MOVES IN LAST TRADING SESSION WERE AS PER OUR EXPECTATION...!!!
LETS TRY TO SEE UPDATED CHART FOR NIFTY ON EOD TIMEFRAME.
THIS IS CHART WE HAVE BEEN SHARING FROM START OF THIS SERIES AND AS WE CAN SEE THAT AT PRESENT NIFTY IS FACING RESISTANCE AT UPPER TRENDLINE.
NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.
Nifty
July Series
About 4000k shares were added in 8500 to 9000 CE zone. Interestingly 8900 CE got mammoth addition in OI (1600k shares). If we talk about additions on PE front then from 8200 to 8500 PE just little above 250k shares were added. Still OI in 8400 PE is significant it will be tough job for any other strike price to take highest OI tag. On CE front we feel that 8700 CE may take highest OI tag from 8600 CE. May be few traders are playing fluke with 8900 CE till expiry.
Highest OI tag is with 8400 PE & 8600 CE.
Bank Nifty
14th July 2016 Option chain (Weekly Expiry)
More than 175k shares were added in 18500-18700 PE zone. But at the same time more than 350k shares were added in 18600-19000 CE zone. Today is expiry for this option series.
Highest OI tag is with 18000 PE & 18700 CE
21st July 2016 Option chain (Weekly Expiry)
Strong base can be found at 18500 PE (highest OI) On CE front highest OI tag is at 19000 CE.
Highest OI tag is with 18500 PE & 18700 CE.
July Series
Not even single strike price undergone liquidation from 17500-19000 PE this show how much frustrated Bears are and this shows their desperation to bring Bank Nifty down.
Some additions can be seen even above 19000 CE.
Highest OI tag is with 18000 PE & 19000 CE
14th July 2016 Option chain (Weekly Expiry)
More than 175k shares were added in 18500-18700 PE zone. But at the same time more than 350k shares were added in 18600-19000 CE zone. Today is expiry for this option series.
Highest OI tag is with 18000 PE & 18700 CE
21st July 2016 Option chain (Weekly Expiry)
Strong base can be found at 18500 PE (highest OI) On CE front highest OI tag is at 19000 CE.
Highest OI tag is with 18500 PE & 18700 CE.
Not even single strike price undergone liquidation from 17500-19000 PE this show how much frustrated Bears are and this shows their desperation to bring Bank Nifty down.
Some additions can be seen even above 19000 CE.
Highest OI tag is with 18000 PE & 19000 CE
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 26.68
JULY SERIES
NIFTY PCR ON BASIS OF OI IS 1.14
BANK NIFTY PCR ON BASIS OF OI IS 1.30
FINAL CONCLUSION
Nifty & Bank Nifty
Lets first see Nifty.
Still highest OI tag is between 8400 PE & 8600 CE. So this again signals tight range in the market but 8700 CE OI is very close to 8600 CE. Further to add that as per chart (already explained) we are at rising trendline resistance zone with highest OI tag (CE Front) so some consolidation is going to take place. Infact this may act as accumulation time for option traders. As per our understanding this is just pause for further upmove.
Now Lets see Bank Nifty.
Looking at weekly expiry option chain (14/07 & 21/07) we feel that 18500 PE is strong base and even if we get any flashes below 18500 then one can enter in buying side for nearby ATM CE of monthly contracts with stoploss condition of 2 consecutive close below 18500 or 18350 even in intraday flashes.
Sun Pharma & Indusind Bank trades were shared were on basis of highest OI on PE front and VWAP levels on intraday.
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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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