NIFTY & BANK NIFTY VIEW FOR 18/07/2016

8500 ACTED AS STRONG SUPPORT FOR SPOT NIFTY IN LAST TRADING SESSION CAN WE EXPECT SAME THING TO CONTINUE IN NEXT FEW SESSION TOO...???

BANK NIFTY IS FACING RESISTANCE AT 19000 MARK SO GOING FORWARD THAT MAY CREATE SOME ISSUE TO BULLS.

NOW LETS TRY TO MOVE FORWARD TO OPTION CHAIN ANALYSIS.

Nifty

July Series

Nothing major can be found on shifting of OI but yes 8800-8900 CE are still matter of attraction to many. Liquidations in 8100-8200-8300 indicates whatever aggression/frustration that was seen via huge additions is getting melted. ITM CE additions and OTM CE Additions still makes Bulls powerful.

Highest OI tag is with 8400 PE & 8700 CE.

Bank Nifty 
21st July 2016 Option chain (Weekly Expiry)

As it was First day additions on both side can be seen. Though 18000 PE is having highest OI 18500-18700 PE may play major role in forming support. 

Highest OI tag is with 18000 PE & 19000 CE. 

July Series
Except 17800 PE all PE From 17500-18400 undergone liquidation (Similar to Nifty PE Front) Additions in 19000-19500 CE are good but probably not good enough to continue Bullish momentum.

Highest OI tag is with 18000 PE & 19000 CE 

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.43
PE RATIO FOR BANK NIFTY STANDS AT 27.16

JULY SERIES
NIFTY PCR ON BASIS OF OI IS 1.42
BANK NIFTY PCR ON BASIS OF OI IS 1.16

FINAL CONCLUSION

Nifty & Bank Nifty
Lets first see Nifty.
ITM liquidation and OTM additions is regular phenomenon of recent past in Nifty CE Front (Repeat comment). 8500 PE if get highest OI tag we shall not be surprised. 8800-8900 CE OI and additions in OI is playing vital role for Bullish momentum. 

Now Lets see Bank Nifty.
Though Bulls managed to close Bank Nifty in green but 19000 CE shall play vital role. Even if 19500 CE does not get highest OI but if difference between 19000-19500 goes less than 50k shares (monthly expiry on closing basis) we can expect more upside. 

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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

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