LAST TRADING SESSION WAS NIGHTMARE FOR US BUT STILL WE HAVE NOT BOOK LOSS IN OUR NIFTY TRADE. WE NEED TO RE-ANALYSE WHOLE STRUCTURE ONCE NIFTY CLOSES BELOW 8520-8500 ZONE.
ANYWAY LETS TRY TO UNDERSTAND/STUDY OPTIONS DATA.
Nifty
August Series
Still heavy additions can be seen in different strike prices from 8500 to 9000 (5125k shares). Net Net about 254k shares were added from 8500 to 9000 PE. Some good sign is that minor liquidations can be seen in 8650 & 8800 PE. (Our view is still intact for 8500 shall remain safe on closing basis)
Highest OI tag is with 8500 PE & 9000 CE.
Bank Nifty
4th August 2016 Option chain (Weekly Expiry)
4th August 2016 Option chain (Weekly Expiry)
Huge liquidations can be seen from 18400 to 19500 PE at the same time mammoth additions can be seen in 18500-19200 CE. Nothing much needs to be analysed as we have expiry for this contract today.
Highest OI tag is with 18500 PE & 19000 CE.
11th August 2016 Option chain (Weekly Expiry)
Highest OI tag is with 18500 PE & 19500 CE.
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
Highest OI tag is with 18500 PE & 19000 CE.
11th August 2016 Option chain (Weekly Expiry)
Strong support and resistance be found at 18500 & 19000 levels (highest OI)
Highest OI tag is with 18500 PE & 19000 CE.
Highest OI tag is with 18500 PE & 19000 CE.
August Series (Monthly Expiry)
Some liquidations can be seen at 18500 PE with additions at 18000 PE some doubt arises whether 18500 shall remain safe or not. Similar to weekly expiry additions can be seen in strike prices above 18500 CE. Highest OI tag is with 18500 PE & 19500 CE.
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 26.32
AUGUST SERIES
NIFTY PCR ON BASIS OF OI IS 0.76
BANK NIFTY PCR ON BASIS OF OI IS 0.94
FINAL CONCLUSION
Nifty & Bank Nifty
Lets first see Nifty.
Though we got close below 8575 in last trading session but we feel that it was dramatic move on account of GST. Also on EOD charts 21 EMA (8520) remained safe. So today we need to watch closing level for proper exit in Nifty trade.
Now Lets see Bank Nifty.
Till the time 18500 is safe we can expect bounce till 19100 but close above 19000 may lead doors open for 19400 levels too. But as discussed earlier we are in no trade zone for Bank Nifty at present.
Index based Open Position at Present (Confirmed with you all)
NIFTY trade is on basis of OC and chart. (8500 CE)
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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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