YESTERDAY AGAIN SUPPORT & RESISTANCE ZONE GIVEN BY US WERE RESPECTED IN BOTH THE INDICES. THIS WEEK NIFTY IS MOVING IN TIGHT RANGE AND SOME HOW PROPER TRADING OPPORTUNITY IS NOT GETTING GENERATED AT PRESENT.
ANYWAY LETS TRY TO UNDERSTAND/STUDY OPTIONS DATA.
Nifty
August Series
Mammoth additions in 8600-8700-8800 CE indicates big move coming but at the same time liquidations in 8400-8500-8600 PE indicates chances for upside is more than downside.
If we consider on valuation front then PE front is over valued than CE front which can be considered traders are biased for downside.
Highest OI tag is with 8500 PE & 8800 CE.
(Shift from 9000 CE to 8800 CE)
Bank Nifty
18th August 2016 Option chain (Weekly Expiry)
More than 150k shares were liquidated in 18000 to 18400 PE range. But on CE front very minor liquidations took place in ITM strike prices. Today is expiry for this contract so at present nothing can be discussed due to huge volatility seen in last few sessions.
Highest OI tag is with 18800 PE & 19300 CE.
(Shift from 18500 to 18800 PE & 19400 to 19300 CE)
Highest OI tag is with 18800 PE & 19300 CE.
(Shift from 18500 to 18800 PE & 19400 to 19300 CE)
August Series (Monthly Expiry)
Mixed cues can be seen on both sides. But importantly huge additions in 18900 PE indicates traders are betting for small downside. Nothing much can be inferred out of this at present due.Highest OI tag is with 18500 PE & 19500 CE.
NOW LETS SEE SOME IMPORTANT NIFTY RATIO
PE RATIO FOR BANK NIFTY STANDS AT 26.94
AUGUST SERIES
NIFTY PCR ON BASIS OF OI IS 0.92
BANK NIFTY PCR ON BASIS OF OI IS 1.07
FINAL CONCLUSION
Nifty & Bank Nifty
Due to liquidation on PE front and additions on CE front we have taken risk of buying 8600 CE in small quantity at present. Another important thing is that PCR is in favour of Bulls at present. Also to add as said during last trading session we feel that big move is coming in 2-4 sessions and we feel that it may be on upside only.
Now Lets see Bank Nifty.
As discussed already nothing much can be inferred about Bank Nifty and also due to unclear trend we are in no trade zone at present.
Due to liquidation on PE front and additions on CE front we have taken risk of buying 8600 CE in small quantity at present. Another important thing is that PCR is in favour of Bulls at present. Also to add as said during last trading session we feel that big move is coming in 2-4 sessions and we feel that it may be on upside only.
Now Lets see Bank Nifty.
As discussed already nothing much can be inferred about Bank Nifty and also due to unclear trend we are in no trade zone at present.
FURTHER SUPPORT AND RESISTANCE LEVELS SHALL ALSO BE SHARED VIA WHATSAPP BEFORE MARKET OPENS.
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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
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