THOUGH IT WAS RANGE BOUND SESSION YESTERDAY WE HAD ENCASHED 20 POINTS EASILY IN 8700 CE. NOT ONLY THAT SPOT NIFTY RESPECTED OUR LEVEL OF SUPPORT & RESISTANCE GIVEN VIA WHATSAPP. LETS HAVE LOOK AT NIFTY SHORT TERM CHART AGAIN.
Above chart was shared with you all during last trading session. Support level still remain the same.
Support 8535-8540 and then 8515-8520 (Spot Nifty)
Resistance 8635-8640 (Spot Nifty)
ANYWAY LETS TRY TO UNDERSTAND/STUDY OPTIONS DATA.
Nifty
August Series
Mammoth additions can be seen in 8400 PE gives again some doubt that whether 8500 shall remain safe or not on closing basis. 8500 & 8600 CE undergone additions of more than 200k shares but from 8650 to 9000 CE about 500k shares were liquidated and only some additions can be seen in 8800 & 9000 CE.
Highest OI tag is with 8500 PE & 9000 CE.
Bank Nifty
18th August 2016 Option chain (Weekly Expiry)
Highest OI tag is with 18000 PE & 19500 CE.
18th August 2016 Option chain (Weekly Expiry)
Positions built-up can be seen on both side of option chain at present and here also we feel that 18500 & 19000 may act as strong support and resistance. (Repeat comment)
Highest OI tag is with 18500 PE & 19000 CE.
Highest OI tag is with 18500 PE & 19000 CE.
August Series (Monthly Expiry)
18000 & 18500 PE are giving tough fight to each other for gaining highest OI tag. (Repeat comment) 19500 CE is having highest OI tag at present which may act as resistance but weekly series clearly says that 19000 may act as strong resistance. (Repeat comment) Highest OI tag is with 18000 PE & 19500 CE.
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 26.38
AUGUST SERIES
NIFTY PCR ON BASIS OF OI IS 0.91
BANK NIFTY PCR ON BASIS OF OI IS 0.91
FINAL CONCLUSION
Nifty & Bank Nifty
CE front liquidation rises some doubt over any major upside in today's session. Further OTM additions also hints some volatility like we had in last trading session. We already have open Position in Nifty but we may book it early today.
Now Lets see Bank Nifty.
Uncertainty is still there in Bank Nifty which is causing pain in Nifty too. But to avoid any risk we are trading only in Nifty in last few sessions and getting rewarded also beautifully due to proper strategy. At present we are in no trade zone for Bank Nifty.
CE front liquidation rises some doubt over any major upside in today's session. Further OTM additions also hints some volatility like we had in last trading session. We already have open Position in Nifty but we may book it early today.
Now Lets see Bank Nifty.
Uncertainty is still there in Bank Nifty which is causing pain in Nifty too. But to avoid any risk we are trading only in Nifty in last few sessions and getting rewarded also beautifully due to proper strategy. At present we are in no trade zone for Bank Nifty.
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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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