LAST FEW POSTS WE HAVE BEEN TELLING ONE AND SAME THING THAT THERE HAS BEEN SLIGHT MISMATCH IN BANK NIFTY WEEKLY & MONTHLY OPTION CHAIN AND TODAY WE CAN SEE ITS EFFECT.
ALSO WE HAVE BEEN TELLING YOU ALL THAT TILL THE TIME 8600 CE IS HAVING HIGHEST OI TAG RANGE BOUND MOVES CAN BE EXPECTED IN NIFTY.
ACTUALLY 19000 CE FOR BANK NIFTY MONTHLY OPTION CHAIN HAS SPOILED BULL PARTY AND INVITED BEARISH MOVES.
Nifty
July Series
Whatever accumulation which was seen on PE front in last few days resulted to downside move today. On PE front more than 2100k shares were liquidated in different strikes from 8400 to 8600.
From 8400 to 8700 CE about 2200k shares were added.
Highest OI tag is with 8400 PE & 8600 CE.
Bank Nifty
4th August 2016 Option chain (Weekly Expiry)
4th August 2016 Option chain (Weekly Expiry)
Nothing much exciting (no built-up yet)
July Series
Some liquidation can be seen in 18900 & 19000 PE. From 18000 to 18400 PE more thaan 145k shares were added but on CE front mammoth additions can be seen in 18700 to 19200 CE (About 650k)
Highest OI tag is with 18000 PE & 19000 CE. (But 18500 PE OI suggests it may take highest OI tag)
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
July Series
Some liquidation can be seen in 18900 & 19000 PE. From 18000 to 18400 PE more thaan 145k shares were added but on CE front mammoth additions can be seen in 18700 to 19200 CE (About 650k)
Highest OI tag is with 18000 PE & 19000 CE. (But 18500 PE OI suggests it may take highest OI tag)
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 26.76
JULY SERIES
NIFTY PCR ON BASIS OF OI IS 1.09
BANK NIFTY PCR ON BASIS OF OI IS 1.04
FINAL CONCLUSION
Nifty & Bank Nifty
Lets first see Nifty.
High PCR and high OI at 8600 PE resulted into some downside moves but still close below 8500 spot Nifty for 3 sessions is bit tough. (Already disclosed reason to you via whatsapp) Liquidations in PE of current series indicates no major downside from current levels.
Additions in CE front indicates some bounce back in coming sessions.
August series OC we are not discussing because we have already made our view clear for support levels via whatsapp.
Now Lets see Bank Nifty.
If 18500 PE gains highest OI tag from 18000 PE then good bounce can be expected in current series otherwise still looking at OI built-up close above 19000 is bit tough for next session.
Dr Reddy trade is on basis of OC and chart (Chart already shared)
LIC Housing trade is on basis of OC and chart. (both cash and option)
TATA Motors trade is on basis of OC and chart.
Sun Pharma trade is on basis of OC and chart. (chart already shared)
Lupin trade is on basis of OC and chart.
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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
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