NIFTY & BANK NIFTY VIEW FOR 26/07/2016

LAST TRADING SESSION WENT COMPLETELY OPPOSITE THAN OUR VIEW POSTED/SHARED HERE ON BLOG POST BUT STILL WE WERE ABLE TO MAKE SOME GOOD MONEY IN AXIS BANK AND BANK OF BARODA IN INTRADAY TRADES. ALSO POSITIONAL CALL ON LIC HOUSING 1st TARGET WAS ACHIEVED.

AS DISCUSSED WITH YOU ALL ON FRIDAY IN WHATSAPP CHAT CHANGE IN OI WAS EXPECTED WHICH ALSO HAPPENED IN NIFTY BUT STILL SAME IS PENDING IN BANK NIFTY.

ANYWAY LETS TRY TO UNDERSTAND/STUDY OPTIONS DATA.

Nifty

July Series

More than 3175k shares were liquidated in different strike prices from 7000 to 8600 CE. Except 8800 CE all other CE from 8650 to 8900 undergone additions during last trading session (about 1040k shares) From 8500 to 8800 PE about 4300k shares were added. 

Highest OI tag is with 8500 PE & 8700 CE.

August Series

More than 425k shares were added only in 8500 PE gives more confirmation of strong base formation. 8800 CE is having OI more than 200k shares but 9000 CE is having good OI so 8800 CE though may act as resistance but that will be some time being pause only...!!!

Highest OI tag is with 8500 PE & 9000 CE.

Bank Nifty 
4th August 2016 Option chain (Weekly Expiry)

Prior to last trading session 19000 CE was having OI of about 10k shares but in last trading session 19500 CE undergone additions of about 9.5k shares which indicates that 19000 will be crossed on closing basis very soon. 

Highest OI tag is with 18500 PE & 19000 CE.

July Series

Highest OI of 19000 CE acted as resistance again  on closing basis. More than 830k shares were added in 18700-19000 PE. Right from 14700 to 19000 CE one sided liquidation took place. Still 19500 CE is not able to gain highest OI tag so 19000 CE may still act as resistance. Difference between 18000 & 18500 PE is less than 25k shares which is not big deal. 

Highest OI tag is with 18000 PE & 19000 CE. 
(But 18500 PE OI suggests it may take highest OI tag) 

August Series
Still there is no big difference in OI in 19000-19500-20000 CE but yes at present 19500 CE has got highest OI. 

Highest OI tag is with 18000 PE & 19500 CE.  

NOW LETS SEE SOME IMPORTANT NIFTY RATIO

PE RATIO FOR NIFTY STANDS AT 23.69
PE RATIO FOR BANK NIFTY STANDS AT 27.21

JULY SERIES
NIFTY PCR ON BASIS OF OI IS 1.25
BANK NIFTY PCR ON BASIS OF OI IS 1.44

AUGUST SERIES
NIFTY PCR ON BASIS OF OI IS 0.92
BANK NIFTY PCR ON BASIS OF OI IS 0.81

FINAL CONCLUSION

Nifty & Bank Nifty
Lets first see Nifty.
We have open position in in Nifty in August series. Near to expiry and way move came in last trading session some consolidation or some downside moves cannot be ruled out. 

Now Lets see Bank Nifty.
Till the time 19000 CE is having high OI closing above that level is bit tough. Once some change (if any before expiry) that that will be boost for Bulls. 

Dr Reddy trade is on basis of OC and chart (Chart already shared) (CALL CLOSED WITH MINOR LOSS) 

LIC Housing trade is on basis of OC and chart. (Cash open ~ CE call closed) (1st TARGET DONE) 

Lupin trade is on basis of OC and chart. (CLOSED WITH TRAIL SL HIT C2C) 

AXIS Bank CE trade was on basis of OC, chart & VWAP. (7200/lot gains ~ CALL CLOSED) 

Bank of Baroda trade is on basis of OC & VWAP. (1st TARGET DONE)

NIFTY trade is on basis of OC and chart.

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STANDARD DISLCOSURE:-

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

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